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 Refi and Home Purchase loans. Touchstone Bank has a high proportion of conventional loans. Their top markets by origination volume include: Richmond, Raleigh, Roanoke Rapids, Durham, and Virginia Beach 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

    134

    Origination Dollar Volume (All Markets)

    $37,110,000

    Employee count

    107

    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 49 $17,785,000 $362,959 $0 0.00%
    RICHMOND, VA (FHA|USDA|VA) 60 $12,200,000 $203,333 $0 0.00%
    RALEIGH-CARY, NC (FHA|USDA|VA) 9 $3,095,000 $343,889 $0 0.00%
    Roanoke Rapids, NC (FHA|USDA|VA) 9 $1,965,000 $218,333 $0 0.00%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 3 $735,000 $245,000 $0 0.00%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $455,000 $455,000 $0 0.00%
    Kill Devil Hills, NC (FHA|USDA|VA) 1 $455,000 $455,000 $0 0.00%
    Morehead City, NC (FHA|USDA|VA) 1 $355,000 $355,000 $0 0.00%
    ROCKY MOUNT, NC (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
    Touchstone Bank's top markets include Richmond, Raleigh, Roanoke Rapids, Durham, and Virginia Beach 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 134 $37,110,000 $276,940 $0 0.00%

    For 2020, Touchstone Bank's most frequently originated type of loan was Conventional, with 134 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 77 $15,295,000 $198,636 $0 0.00%
    Home Purchase 39 $19,785,000 $507,308 $0 0.00%
    Cash Out Refi 17 $1,655,000 $97,353 $0 0.00%
    Home Improvement 1 $375,000 $375,000 $0 0.00%

    For 2020, Touchstone Bank's most frequently cited loan purpose was Refi, with 77 originations. The 2nd most popular reason was Home Purchase, with 39 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 134 $37,110,000 $276,940 $0 0.00%

    For 2020, Touchstone Bank's most frequently cited loan duration was Other, with 134 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 65 $4,455,000 $68,538 $0 0.00%
    $100k-200k 32 $4,580,000 $143,125 $0 0.00%
    $200k-400k 17 $5,105,000 $300,294 $0 0.00%
    $400k-600k 13 $6,515,000 $501,154 $0 0.00%
    $600k-1MM 5 $3,615,000 $723,000 $0 0.00%
    $1MM+ 2 $12,840,000 $6,420,000 $0 0.00%

    2020 saw Touchstone Bank place emphasis on $100,000 or less loans with 65 originations, totaling $4,455,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 20 $13,680,000 $684,000 $0 0.00%
    $100k-150k 14 $3,250,000 $232,143 $0 0.00%
    $75k-100k 14 $2,090,000 $149,286 $0 0.00%
    $250k+ 11 $3,985,000 $362,273 $0 0.00%
    $50k-75k 11 $985,000 $89,545 $0 0.00%
    $150k-250k 10 $2,150,000 $215,000 $0 0.00%

    Touchstone Bank lent most frequently to those with incomes in the $50k or less range, with 20 originations. The second most popular income band? $100k-150k, with 14 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 134 $37,110,000 $276,940 $0 0.00%

    Touchstone Bank lent most frequently to those with DTI ratios of Exempt%, with 134 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 74 $25,510,000 $344,730 $0 0.00%
    Not applicable 54 $10,970,000 $203,148 $0 0.00%
    Black 5 $485,000 $97,000 $0 0.00%
    Asian 1 $145,000 $145,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.83%

    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
    99.25%

    Touchstone Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 134 $37,110,000 $276,940

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $225,000 $225,000
    Multifamily:Site-Built 6 $3,240,000 $540,000
    Single Family (1-4 Units):Manufactured 12 $12,670,000 $1,055,833
    Single Family (1-4 Units):Site-Built 115 $20,975,000 $182,391

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Touchstone Bank 13812 Boydton Plank Road Dinwiddie, VA 23841 Full Service B&M $48,633
    Touchstone Bank 200 Johnson Creek Drive Chester, VA 23836 Full Service B&M $19,137
    Touchstone Bank 202 N. Main Street Louisburg, NC 27549 Full Service B&M $17,754
    Touchstone Bank 23315 Airport Street Petersburg, VA 23803 Full Service B&M $41,562
    Touchstone Bank 3115 Boulevard Colonial Heights, VA 23834 Full Service B&M $43,005
    Touchstone Bank 4200 Gasburg Road Gasburg, VA 23857 Full Service B&M $28,259
    Touchstone Bank 4300 Crossings Boulevard Prince George, VA 23875 Full Service B&M $30,999
    Touchstone Bank 4700 Owens Way Prince George, VA 23875 Full Service B&M $23,318
    Touchstone Bank 581 Madison Street Boydton, VA 23917 Full Service B&M $23,763
    Touchstone Bank 6300 River Road South Chesterfield, VA 23803 Full Service B&M $37,905
    Touchstone Bank 701 Virginia Ave Clarksville, VA 23927 Full Service B&M $3,973
    Touchstone Bank 778 Old Farm Road South Roanoke Rapids, NC 27870 Full Service B&M $30,896
    Touchstone Bank 800 North Mecklenburg Avenue South Hill, VA 23970 Full Service B&M $81,382

    For 2020, Touchstone Bank had 13 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $20,948
    Net interest income $18,061
    Total noninterest income $2,384
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $652
    Trading account gains and fees $0
    Additional Noninterest Income $1,732
    Pre-tax net operating income $2,973
    Securities gains (or losses, -) $113
    Income before extraordinary items $2,575
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,575
    Minority interest net income $0
    Net income $2,575
    Sale, conversion, retirement of capital stock, net $78
    Net operating income $2,481

    Touchstone Bank's gross interest income from loans was $20,948,000.
    Touchstone Bank's net interest income from loans was $18,061,000.
    Touchstone Bank's fee based income from loans was $652,000.
    Touchstone Bank's net income from loans was $2,575,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,887
    Provision for credit losses $2,250
    Total noninterest expense $15,222
    Salaries and employee benefits $8,203
    Premises and equipment expense $1,846
    Additional noninterest expense $5,173
    Applicable income taxes $511
    Net charge-offs $173
    Cash dividends $1,000

    Touchstone Bank's interest expense for loans was $2,887,000.
    Touchstone Bank's payroll and benefits expense were $8,203,000.
    Touchstone Bank's property, plant and equipment expenses $1,846,000.

    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 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 $450,880
    Deposits held in domestic offices $450,880
    Deposits by Individuals, partnerships, and corporations $436,874
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $13,758
    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 $216,875
    Demand deposits $149,053
    Nontransaction accounts $234,005
    Money market deposit accounts (MMDAs) $64,019
    Other savings deposits (excluding MMDAs) $56,562
    Total time deposits $113,424
    Total time and savings deposits $301,827
    Noninterest-bearing deposits $149,053
    Interest-bearing deposits $301,827
    Retail deposits $430,567
    IRAs and Keogh plan accounts $15,830
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $532,662
    Cash & Balances due from depository institutions $24,235
    Interest-bearing balances $16,544
    Total securities $93,840
    Federal funds sold & reverse repurchase $19,611
    Net loans and leases $358,672
    Loan and leases loss allowance $4,357
    Trading account assets $0
    Bank premises and fixed assets $15,333
    Other real estate owned $22
    Goodwill and other intangibles $1,102
    All other assets $19,847

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $532,662
    Total Liabilities $478,817
    Total deposits $450,880
    Interest-bearing deposits $301,827
    Deposits held in domestic offices $450,880
    % insured (estimated) $83
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $21,000
    Subordinated debt $3,506
    All other liabilities $3,431

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $358,672
    Loan and leases loss allowance $4,357
    Total loans and leases (domestic) $363,029
    All real estate loans $311,069
    Real estate loans in domestic offices $311,069
    Construction and development loans $28,030
    Residential 1-4 family construction $11,649
    Other construction, all land development and other land $16,381
    Loans secured by nonfarm nonresidential properties $142,013
    Nonfarm nonresidential secured by owner-occupied properties $77,856
    Commercial real estate & other non-farm, non-residential $64,157
    Multifamily residential real estate $7,926
    1-4 family residential loans $124,428
    Farmland loans $8,672
    Loans held in foreign offices $0
    Farm loans $746
    Commercial and industrial loans $45,769
    To non-U.S. addressees $0
    Loans to individuals $3,752
    Credit card loans $0
    Related Plans $177
    Consumer Auto Loans $2,142
    Other loans to individuals $1,433
    All other loans & leases $1,693
    Loans to foreign governments and official institutions $0
    Other loans $0
    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 $756
    Non 1-4 family restructured loans & leases $1
    Total loans and leases (foreign) $0

    Touchstone Bank had $358,672,000 of loans outstanding in 2020. $311,069,000 of loans were in real estate loans. $28,030,000 of loans were in development loans. $7,926,000 of loans were in multifamily mortgage loans. $124,428,000 of loans were in 1-4 family mortgage loans. $746,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,142,000 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 373 $77,713 $208,346
    Nonfarm, nonresidential loans - <$100k 92 $4,099 $44,554
    Nonfarm, nonresidential loans - $100-250k 122 $16,093 $131,910
    Nonfarm, nonresidential loans - $250k-1MM 159 $57,521 $361,767
    Commercial & Industrial, US addressed loans - <$1MM 747 $43,552 $58,303
    Commercial & Industrial, US addressed loans - <$100k 573 $13,583 $23,705
    Commercial & Industrial, US addressed loans - $100-250k 118 $11,664 $98,847
    Commercial & Industrial, US addressed loans - $250k-1MM 56 $18,305 $326,875
    Farmland loans - <$1MM 70 $6,382 $91,171
    Farmland loans - <$100k 35 $1,661 $47,457
    Farmland loans - $100-250k 29 $3,465 $119,483
    Farmland loans - $250k-1MM 6 $1,256 $209,333
    Agriculture operations loans - <$1MM 20 $746 $37,300
    Agriculture operations loans - <$100k 15 $269 $17,933
    Agriculture operations loans - $100-250k 3 $299 $99,667
    Agriculture operations loans - $250k-1MM 2 $178 $89,000