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, Raleigh, Roanoke Rapids, Shelby, and Henderson among others. We have data for 9 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. They have an above average pick rate when compared to similar 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

    115

    Origination Dollar Volume (All Markets)

    $17,465,000

    Employee count

    121

    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 53 $8,385,000 $158,208 $0 0.00%
    RICHMOND, VA (FHA|USDA|VA) 43 $5,815,000 $135,233 $0 0.00%
    RALEIGH-CARY, NC (FHA|USDA|VA) 4 $1,270,000 $317,500 $0 0.00%
    Roanoke Rapids, NC (FHA|USDA|VA) 9 $1,075,000 $119,444 $0 0.00%
    Shelby, NC (FHA|USDA|VA) 1 $455,000 $455,000 $0 0.00%
    Henderson, NC (FHA|USDA|VA) 2 $260,000 $130,000 $0 0.00%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $95,000 $95,000 $0 0.00%
    Kill Devil Hills, NC (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.00%
    Touchstone Bank's top markets include Richmond, Raleigh, Roanoke Rapids, Shelby, and Henderson 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 115 $17,465,000 $151,870 $0 0.00%

    For 2019, Touchstone Bank's most frequently originated type of loan was Conventional, with 115 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 56 $9,500,000 $169,643 $0 0.00%
    Refi 44 $6,490,000 $147,500 $0 0.00%
    Cash Out Refi 8 $1,080,000 $135,000 $0 0.00%
    Home Improvement 6 $300,000 $50,000 $0 0.00%
    Other 1 $95,000 $95,000 $0 0.00%

    For 2019, Touchstone Bank's most frequently cited loan purpose was Home Purchase, with 56 originations. The 2nd most popular reason was Refi, with 44 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 115 $17,465,000 $151,870 $0 0.00%

    For 2019, Touchstone Bank's most frequently cited loan duration was Other, with 115 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 58 $3,510,000 $60,517 $0 0.00%
    $200k-400k 30 $8,300,000 $276,667 $0 0.00%
    $100k-200k 23 $3,105,000 $135,000 $0 0.00%
    $400k-600k 2 $870,000 $435,000 $0 0.00%
    $600k-1MM 2 $1,680,000 $840,000 $0 0.00%

    2019 saw Touchstone Bank place emphasis on $100,000 or less loans with 58 originations, totaling $3,510,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 17 $1,695,000 $99,706 $0 0.00%
    $100k-150k 15 $2,025,000 $135,000 $0 0.00%
    $50k-75k 15 $1,825,000 $121,667 $0 0.00%
    $150k-250k 14 $3,130,000 $223,571 $0 0.00%
    $250k+ 11 $2,155,000 $195,909 $0 0.00%
    $75k-100k 11 $1,595,000 $145,000 $0 0.00%

    Touchstone Bank lent most frequently to those with incomes in the $50k or less range, with 17 originations. The second most popular income band? $100k-150k, with 15 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 115 $17,465,000 $151,870 $0 0.00%

    Touchstone Bank lent most frequently to those with DTI ratios of Exempt%, with 115 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 76 $11,970,000 $157,500 $0 0.00%
    Not applicable 32 $5,040,000 $157,500 $0 0.00%
    Asian 2 $240,000 $120,000 $0 0.00%
    Black 5 $215,000 $43,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.18%

    Touchstone Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    93.04%

    Touchstone Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 115 $17,465,000 $151,870

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $1,200,000 $600,000
    Single Family (1-4 Units):Manufactured 18 $2,190,000 $121,667
    Single Family (1-4 Units):Site-Built 95 $14,075,000 $148,158

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Touchstone Bank 13812 Boydton Plank Road Dinwiddie, VA 23841 Full Service B&M $38,938
    Touchstone Bank 200 Johnson Creek Drive Chester, VA 23836 Full Service B&M $7,449
    Touchstone Bank 202 N. Main Street Louisburg, NC 27549 Full Service B&M $15,531
    Touchstone Bank 23315 Airport Street Petersburg, VA 23803 Full Service B&M $38,165
    Touchstone Bank 3115 Boulevard Colonial Heights, VA 23834 Full Service B&M $34,994
    Touchstone Bank 4200 Gasburg Road Gasburg, VA 23857 Full Service B&M $24,565
    Touchstone Bank 4300 Crossings Boulevard Prince George, VA 23875 Full Service B&M $29,930
    Touchstone Bank 4700 Owens Way Prince George, VA 23875 Full Service B&M $18,083
    Touchstone Bank 581 Madison Street Boydton, VA 23917 Full Service B&M $23,172
    Touchstone Bank 6300 River Road South Chesterfield, VA 23803 Full Service B&M $29,532
    Touchstone Bank 701 Virginia Ave Clarksville, VA 23927 Full Service B&M $2,482
    Touchstone Bank 778 Old Farm Road South Roanoke Rapids, NC 27870 Full Service B&M $26,893
    Touchstone Bank 800 North Mecklenburg Avenue South Hill, VA 23970 Full Service B&M $84,143

    For 2019, Touchstone Bank had 13 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $20,552
    Net interest income $17,146
    Total noninterest income $2,882
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $765
    Trading account gains and fees $0
    Additional Noninterest Income $2,117
    Pre-tax net operating income $3,923
    Securities gains (or losses, -) $106
    Income before extraordinary items $3,286
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,286
    Minority interest net income $0
    Net income $3,286
    Sale, conversion, retirement of capital stock, net $103
    Net operating income $3,199

    Touchstone Bank's gross interest income from loans was $20,552,000.
    Touchstone Bank's net interest income from loans was $17,146,000.
    Touchstone Bank's fee based income from loans was $765,000.
    Touchstone Bank's net income from loans was $3,286,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,406
    Provision for credit losses $63
    Total noninterest expense $16,042
    Salaries and employee benefits $8,705
    Premises and equipment expense $2,051
    Additional noninterest expense $5,286
    Applicable income taxes $743
    Net charge-offs $52
    Cash dividends $938

    Touchstone Bank's interest expense for loans was $3,406,000.
    Touchstone Bank's payroll and benefits expense were $8,705,000.
    Touchstone Bank's property, plant and equipment expenses $2,051,000.

    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 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    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 $382,924
    Deposits held in domestic offices $382,924
    Deposits by Individuals, partnerships, and corporations $371,298
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $11,378
    Deposits by Commercial banks and other depository institutions in U.S. $248
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $154,232
    Demand deposits $102,993
    Nontransaction accounts $228,692
    Money market deposit accounts (MMDAs) $57,577
    Other savings deposits (excluding MMDAs) $46,485
    Total time deposits $124,630
    Total time and savings deposits $279,931
    Noninterest-bearing deposits $102,993
    Interest-bearing deposits $279,931
    Retail deposits $356,289
    IRAs and Keogh plan accounts $16,082
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $468,080
    Cash & Balances due from depository institutions $22,088
    Interest-bearing balances $13,474
    Total securities $60,239
    Federal funds sold & reverse repurchase $984
    Net loans and leases $347,996
    Loan and leases loss allowance $2,280
    Trading account assets $0
    Bank premises and fixed assets $15,703
    Other real estate owned $82
    Goodwill and other intangibles $1,434
    All other assets $19,554

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $468,080
    Total Liabilities $420,861
    Total deposits $382,924
    Interest-bearing deposits $279,931
    Deposits held in domestic offices $382,924
    % insured (estimated) $85
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $30,000
    Subordinated debt $3,542
    All other liabilities $4,395

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $347,996
    Loan and leases loss allowance $2,280
    Total loans and leases (domestic) $350,276
    All real estate loans $312,391
    Real estate loans in domestic offices $312,391
    Construction and development loans $30,553
    Residential 1-4 family construction $15,112
    Other construction, all land development and other land $15,441
    Loans secured by nonfarm nonresidential properties $142,486
    Nonfarm nonresidential secured by owner-occupied properties $74,054
    Commercial real estate & other non-farm, non-residential $68,432
    Multifamily residential real estate $7,362
    1-4 family residential loans $121,873
    Farmland loans $10,117
    Loans held in foreign offices $0
    Farm loans $965
    Commercial and industrial loans $29,751
    To non-U.S. addressees $0
    Loans to individuals $4,466
    Credit card loans $0
    Related Plans $216
    Consumer Auto Loans $2,283
    Other loans to individuals $1,967
    All other loans & leases $2,702
    Loans to foreign governments and official institutions $0
    Other loans $701
    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 $1,472
    Non 1-4 family restructured loans & leases $696
    Total loans and leases (foreign) $0

    Touchstone Bank had $347,996,000 of loans outstanding in 2019. $312,391,000 of loans were in real estate loans. $30,553,000 of loans were in development loans. $7,362,000 of loans were in multifamily mortgage loans. $121,873,000 of loans were in 1-4 family mortgage loans. $965,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,283,000 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 365 $77,163 $211,405
    Nonfarm, nonresidential loans - <$100k 86 $3,761 $43,733
    Nonfarm, nonresidential loans - $100-250k 123 $16,393 $133,276
    Nonfarm, nonresidential loans - $250k-1MM 156 $57,009 $365,442
    Commercial & Industrial, US addressed loans - <$1MM 485 $29,047 $59,891
    Commercial & Industrial, US addressed loans - <$100k 346 $8,561 $24,743
    Commercial & Industrial, US addressed loans - $100-250k 96 $9,158 $95,396
    Commercial & Industrial, US addressed loans - $250k-1MM 43 $11,328 $263,442
    Farmland loans - <$1MM 75 $7,377 $98,360
    Farmland loans - <$100k 38 $1,721 $45,289
    Farmland loans - $100-250k 29 $3,516 $121,241
    Farmland loans - $250k-1MM 8 $2,140 $267,500
    Agriculture operations loans - <$1MM 21 $965 $45,952
    Agriculture operations loans - <$100k 12 $242 $20,167
    Agriculture operations loans - $100-250k 8 $565 $70,625
    Agriculture operations loans - $250k-1MM 1 $158 $158,000