Touchstone Bank Mortgage Rates, Fees & Info

Prince George, VA

LEI: 549300VZ3M0323R12653

Tax ID: 54-0132540

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Touchstone Bank is a smaller bank specializing in Home Purchase and Refi loans. Touchstone Bank has a high proportion of conventional loans. Their top markets by origination volume include: Richmond, Henderson, Morehead City, Raleigh, and Roanoke Rapids among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Touchstone Bank has an above average approval rate when compared to the average across all lenders.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    Originations

    48

    Origination Dollar Volume (All Markets)

    $7,270,000

    Employee count

    133

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    Outside of Metro Areas 18 $3,190,000 $177,222 $0 0.00%
    RICHMOND, VA (FHA|USDA|VA) 21 $2,965,000 $141,190 $0 0.00%
    Henderson, NC (FHA|USDA|VA) 2 $410,000 $205,000 $0 0.00%
    Morehead City, NC (FHA|USDA|VA) 2 $370,000 $185,000 $0 0.00%
    RALEIGH-CARY, NC (FHA|USDA|VA) 3 $215,000 $71,667 $0 0.00%
    Roanoke Rapids, NC (FHA|USDA|VA) 2 $120,000 $60,000 $0 0.00%
    Touchstone Bank's top markets include Richmond, Henderson, Morehead City, Raleigh, and Roanoke Rapids among others.

    Their top states include:
  • Virginia (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 48 $7,270,000 $151,458 $0 0.00%

    For 2018, Touchstone Bank's most frequently originated type of loan was Conventional, with 48 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 22 $3,150,000 $143,182 $0 0.00%
    Refi 16 $3,000,000 $187,500 $0 0.00%
    Cash Out Refi 10 $1,120,000 $112,000 $0 0.00%

    For 2018, Touchstone Bank's most frequently cited loan purpose was Home Purchase, with 22 originations. The 2nd most popular reason was Refi, with 16 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 48 $7,270,000 $151,458 $0 0.00%

    For 2018, Touchstone Bank's most frequently cited loan duration was Other, with 48 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 22 $1,510,000 $68,636 $0 0.00%
    $100k-200k 15 $2,075,000 $138,333 $0 0.00%
    $200k-400k 10 $2,880,000 $288,000 $0 0.00%
    $600k-1MM 1 $805,000 $805,000 $0 0.00%

    2018 saw Touchstone Bank place emphasis on $100,000 or less loans with 22 originations, totaling $1,510,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 10 $1,520,000 $152,000 $0 0.00%
    $100k-150k 8 $1,250,000 $156,250 $0 0.00%
    $250k+ 8 $1,360,000 $170,000 $0 0.00%
    $50k or less 8 $800,000 $100,000 $0 0.00%
    $50k-75k 6 $480,000 $80,000 $0 0.00%
    $150k-250k 4 $410,000 $102,500 $0 0.00%

    Touchstone Bank lent most frequently to those with incomes in the $75k-100k range, with 10 originations. The second most popular income band? $100k-150k, with 8 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 48 $7,270,000 $151,458 $0 0.00%

    Touchstone Bank lent most frequently to those with DTI ratios of Exempt%, with 48 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 41 $5,525,000 $134,756 $0 0.00%
    Not applicable 4 $1,450,000 $362,500 $0 0.00%
    Black 2 $250,000 $125,000 $0 0.00%
    Native Hawaiian or Islander 1 $45,000 $45,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.96%

    Touchstone Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 48 $7,270,000 $151,458

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $805,000 $805,000
    Single Family (1-4 Units):Manufactured 8 $620,000 $77,500
    Single Family (1-4 Units):Site-Built 39 $5,845,000 $149,872

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Touchstone Bank 13812 Boydton Plank Road Dinwiddie, VA 23841 Full Service B&M $38,596
    Touchstone Bank 200 Johnson Creek Drive Chester, VA 23836 Full Service B&M $7,782
    Touchstone Bank 202 N. Main Street Louisburg, NC 27549 Full Service B&M $12,795
    Touchstone Bank 23315 Airport Street Petersburg, VA 23803 Full Service B&M $36,928
    Touchstone Bank 3115 Boulevard Colonial Heights, VA 23834 Full Service B&M $33,324
    Touchstone Bank 4200 Gasburg Road Gasburg, VA 23857 Full Service B&M $22,342
    Touchstone Bank 4300 Crossings Boulevard Prince George, VA 23875 Full Service B&M $31,786
    Touchstone Bank 4700 Owens Way Prince George, VA 23875 Full Service B&M $17,539
    Touchstone Bank 581 Madison Street Boydton, VA 23917 Full Service B&M $20,133
    Touchstone Bank 6300 River Road South Chesterfield, VA 23803 Full Service B&M $33,339
    Touchstone Bank 701 Virginia Ave Clarksville, VA 23927 Full Service B&M $89
    Touchstone Bank 778 Old Farm Road South Roanoke Rapids, NC 27870 Full Service B&M $25,320
    Touchstone Bank 800 North Mecklenburg Avenue South Hill, VA 23970 Full Service B&M $83,090
    Touchstone Bank 851 South Beckford Drive, Suite A Henderson, NC 27536 Full Service B&M $9,609

    For 2018, Touchstone Bank had 14 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $18,842
    Net interest income $16,691
    Total noninterest income $2,983
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $596
    Trading account gains and fees $0
    Additional Noninterest Income $2,387
    Pre-tax net operating income $1,552
    Securities gains (or losses, -) $-19
    Income before extraordinary items $1,247
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,247
    Minority interest net income $0
    Net income $1,247
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,262

    Touchstone Bank's gross interest income from loans was $18,842,000.
    Touchstone Bank's net interest income from loans was $16,691,000.
    Touchstone Bank's fee based income from loans was $596,000.
    Touchstone Bank's net income from loans was $1,247,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,151
    Provision for credit losses $1,000
    Total noninterest expense $17,122
    Salaries and employee benefits $9,031
    Premises and equipment expense $1,917
    Additional noninterest expense $6,174
    Applicable income taxes $286
    Net charge-offs $341
    Cash dividends $938

    Touchstone Bank's interest expense for loans was $2,151,000.
    Touchstone Bank's payroll and benefits expense were $9,031,000.
    Touchstone Bank's property, plant and equipment expenses $1,917,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 1.0%
    Multifamily residential loans 1.0%
    1-4 family residential loans 0.0%
    HELOC loans 1.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $370,147
    Deposits held in domestic offices $370,147
    Deposits by Individuals, partnerships, and corporations $358,266
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $11,133
    Deposits by Commercial banks and other depository institutions in U.S. $748
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $148,770
    Demand deposits $99,677
    Nontransaction accounts $221,377
    Money market deposit accounts (MMDAs) $63,128
    Other savings deposits (excluding MMDAs) $44,534
    Total time deposits $113,715
    Total time and savings deposits $270,470
    Noninterest-bearing deposits $99,677
    Interest-bearing deposits $270,470
    Retail deposits $351,436
    IRAs and Keogh plan accounts $15,095
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $426,280
    Cash & Balances due from depository institutions $15,765
    Interest-bearing balances $6,011
    Total securities $38,233
    Federal funds sold & reverse repurchase $0
    Net loans and leases $335,747
    Loan and leases loss allowance $2,269
    Trading account assets $0
    Bank premises and fixed assets $16,341
    Other real estate owned $319
    Goodwill and other intangibles $1,808
    All other assets $18,067

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $426,280
    Total Liabilities $381,937
    Total deposits $370,147
    Interest-bearing deposits $270,470
    Deposits held in domestic offices $370,147
    % insured (estimated) $86
    Federal funds purchased and repurchase agreements $467
    Trading liabilities $0
    Other borrowed funds $3,996
    Subordinated debt $3,579
    All other liabilities $3,748

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $335,747
    Loan and leases loss allowance $2,269
    Total loans and leases (domestic) $338,016
    All real estate loans $306,194
    Real estate loans in domestic offices $306,194
    Construction and development loans $24,737
    Residential 1-4 family construction $13,291
    Other construction, all land development and other land $11,446
    Loans secured by nonfarm nonresidential properties $136,875
    Nonfarm nonresidential secured by owner-occupied properties $72,742
    Commercial real estate & other non-farm, non-residential $64,133
    Multifamily residential real estate $5,956
    1-4 family residential loans $126,344
    Farmland loans $12,282
    Loans held in foreign offices $0
    Farm loans $2,263
    Commercial and industrial loans $23,279
    To non-U.S. addressees $0
    Loans to individuals $4,113
    Credit card loans $0
    Related Plans $66
    Consumer Auto Loans $2,160
    Other loans to individuals $1,887
    All other loans & leases $2,167
    Loans to foreign governments and official institutions $0
    Other loans $863
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $1,779
    Non 1-4 family restructured loans & leases $950
    Total loans and leases (foreign) $0

    Touchstone Bank had $335,747,000 of loans outstanding in 2018. $306,194,000 of loans were in real estate loans. $24,737,000 of loans were in development loans. $5,956,000 of loans were in multifamily mortgage loans. $126,344,000 of loans were in 1-4 family mortgage loans. $2,263,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,160,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 367 $76,525 $208,515
    Nonfarm, nonresidential loans - <$100k 90 $4,079 $45,322
    Nonfarm, nonresidential loans - $100-250k 124 $15,573 $125,589
    Nonfarm, nonresidential loans - $250k-1MM 153 $56,873 $371,719
    Commercial & Industrial, US addressed loans - <$1MM 465 $22,353 $48,071
    Commercial & Industrial, US addressed loans - <$100k 357 $8,810 $24,678
    Commercial & Industrial, US addressed loans - $100-250k 82 $6,984 $85,171
    Commercial & Industrial, US addressed loans - $250k-1MM 26 $6,559 $252,269
    Farmland loans - <$1MM 82 $8,177 $99,720
    Farmland loans - <$100k 42 $2,081 $49,548
    Farmland loans - $100-250k 32 $3,854 $120,438
    Farmland loans - $250k-1MM 8 $2,242 $280,250
    Agriculture operations loans - <$1MM 32 $1,444 $45,125
    Agriculture operations loans - <$100k 23 $568 $24,696
    Agriculture operations loans - $100-250k 8 $718 $89,750
    Agriculture operations loans - $250k-1MM 1 $158 $158,000