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, Fayetteville, Roanoke Rapids, and Rocky Mount among others. We have data for 14 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

    198

    Origination Dollar Volume (All Markets)

    $76,400,000

    Employee count

    109

    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
    RICHMOND, VA (FHA|USDA|VA) 80 $29,800,000 $372,500 $0 0.00%
    Outside of Metro Areas 75 $24,305,000 $324,067 $0 0.00%
    RALEIGH-CARY, NC (FHA|USDA|VA) 13 $5,745,000 $441,923 $0 0.00%
    FAYETTEVILLE, NC (FHA|USDA|VA) 1 $4,405,000 $4,405,000 $0 0.00%
    Roanoke Rapids, NC (FHA|USDA|VA) 8 $4,330,000 $541,250 $0 0.00%
    ROCKY MOUNT, NC (FHA|USDA|VA) 8 $3,950,000 $493,750 $0 0.00%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 5 $1,565,000 $313,000 $0 0.00%
    Kill Devil Hills, NC (FHA|USDA|VA) 2 $610,000 $305,000 $0 0.00%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $535,000 $535,000 $0 0.00%
    Henderson, NC (FHA|USDA|VA) 1 $485,000 $485,000 $0 0.00%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $215,000 $215,000 $0 0.00%
    Wilson, NC (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
    Touchstone Bank's top markets include Richmond, Raleigh, Fayetteville, Roanoke Rapids, and Rocky Mount among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 198 $76,400,000 $385,859 $0 0.00%

    For 2021, Touchstone Bank's most frequently originated type of loan was Conventional, with 198 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 103 $38,075,000 $369,660 $0 0.00%
    Home Purchase 85 $34,905,000 $410,647 $0 0.00%
    Home Improvement 8 $3,250,000 $406,250 $0 0.00%
    Other 2 $170,000 $85,000 $0 0.00%

    For 2021, Touchstone Bank's most frequently cited loan purpose was Refi, with 103 originations. The 2nd most popular reason was Home Purchase, with 85 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 198 $76,400,000 $385,859 $0 0.00%

    For 2021, Touchstone Bank's most frequently cited loan duration was Other, with 198 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 57 $7,935,000 $139,211 $0 0.00%
    $100,000 or less 52 $4,030,000 $77,500 $0 0.00%
    $200k-400k 41 $10,765,000 $262,561 $0 0.00%
    $400k-600k 21 $10,505,000 $500,238 $0 0.00%
    $1MM+ 17 $35,695,000 $2,099,706 $0 0.00%
    $600k-1MM 10 $7,470,000 $747,000 $0 0.00%

    2021 saw Touchstone Bank place emphasis on $100k-200k loans with 57 originations, totaling $7,935,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 26 $11,160,000 $429,231 $0 0.00%
    $100k-150k 25 $6,315,000 $252,600 $0 0.00%
    $150k-250k 23 $8,995,000 $391,087 $0 0.00%
    $50k or less 23 $2,915,000 $126,739 $0 0.00%
    $75k-100k 19 $2,455,000 $129,211 $0 0.00%
    $50k-75k 16 $2,280,000 $142,500 $0 0.00%

    Touchstone Bank lent most frequently to those with incomes in the $250k+ range, with 26 originations. The second most popular income band? $100k-150k, with 25 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 198 $76,400,000 $385,859 $0 0.00%

    Touchstone Bank lent most frequently to those with DTI ratios of Exempt%, with 198 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 65 $42,205,000 $649,308 $0 0.00%
    White 117 $29,305,000 $250,470 $0 0.00%
    Not provided 5 $2,015,000 $403,000 $0 0.00%
    Black 9 $1,365,000 $151,667 $0 0.00%
    Chinese 1 $1,355,000 $1,355,000 $0 0.00%
    Guamanian 1 $155,000 $155,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.55%

    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
    99.49%

    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 198 $76,400,000 $385,859

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    198 $76,400,000 $385,859

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Touchstone Bank 13812 Boydton Plank Road Dinwiddie, VA 23841 Full Service B&M $55,828
    Touchstone Bank 200 Johnson Creek Drive Chester, VA 23836 Full Service B&M $23,840
    Touchstone Bank 202 N. Main Street Louisburg, NC 27549 Full Service B&M $25,080
    Touchstone Bank 23315 Airport Street Petersburg, VA 23803 Full Service B&M $49,858
    Touchstone Bank 3115 Boulevard Colonial Heights, VA 23834 Full Service B&M $48,437
    Touchstone Bank 4200 Gasburg Road Gasburg, VA 23857 Full Service B&M $31,940
    Touchstone Bank 4300 Crossings Boulevard Prince George, VA 23875 Full Service B&M $40,388
    Touchstone Bank 4700 Owens Way Prince George, VA 23875 Full Service B&M $27,332
    Touchstone Bank 6300 River Road South Chesterfield, VA 23803 Full Service B&M $40,485
    Touchstone Bank 701 Virginia Ave Clarksville, VA 23927 Full Service B&M $30,268
    Touchstone Bank 778 Old Farm Road South Roanoke Rapids, NC 27870 Full Service B&M $35,923
    Touchstone Bank 800 North Mecklenburg Avenue South Hill, VA 23970 Full Service B&M $93,158

    For 2021, Touchstone Bank had 12 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $21,011
    Net interest income $19,344
    Total noninterest income $3,644
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $693
    Trading account gains and fees $0
    Additional Noninterest Income $2,951
    Pre-tax net operating income $5,424
    Securities gains (or losses, -) $218
    Income before extraordinary items $4,472
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,472
    Minority interest net income $0
    Net income $4,472
    Sale, conversion, retirement of capital stock, net $66
    Net operating income $4,299

    Touchstone Bank's gross interest income from loans was $21,011,000.
    Touchstone Bank's net interest income from loans was $19,344,000.
    Touchstone Bank's fee based income from loans was $693,000.
    Touchstone Bank's net income from loans was $4,472,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,667
    Provision for credit losses $0
    Total noninterest expense $17,564
    Salaries and employee benefits $8,572
    Premises and equipment expense $2,089
    Additional noninterest expense $6,903
    Applicable income taxes $1,170
    Net charge-offs $-18
    Cash dividends $1,000

    Touchstone Bank's interest expense for loans was $1,667,000.
    Touchstone Bank's payroll and benefits expense were $8,572,000.
    Touchstone Bank's property, plant and equipment expenses $2,089,000.

    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 $521,016
    Deposits held in domestic offices $521,016
    Deposits by Individuals, partnerships, and corporations $508,331
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $12,685
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $264,313
    Demand deposits $174,705
    Nontransaction accounts $256,703
    Money market deposit accounts (MMDAs) $80,775
    Other savings deposits (excluding MMDAs) $65,486
    Total time deposits $110,442
    Total time and savings deposits $346,311
    Noninterest-bearing deposits $174,705
    Interest-bearing deposits $346,311
    Retail deposits $498,229
    IRAs and Keogh plan accounts $15,819
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $580,910
    Cash & Balances due from depository institutions $25,615
    Interest-bearing balances $18,451
    Total securities $95,082
    Federal funds sold & reverse repurchase $28,509
    Net loans and leases $398,480
    Loan and leases loss allowance $4,375
    Trading account assets $0
    Bank premises and fixed assets $13,678
    Other real estate owned $0
    Goodwill and other intangibles $815
    All other assets $18,731

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $580,910
    Total Liabilities $525,396
    Total deposits $521,016
    Interest-bearing deposits $346,311
    Deposits held in domestic offices $521,016
    % insured (estimated) $81
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $4,380

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $398,480
    Loan and leases loss allowance $4,375
    Total loans and leases (domestic) $402,855
    All real estate loans $352,352
    Real estate loans in domestic offices $352,352
    Construction and development loans $27,698
    Residential 1-4 family construction $14,897
    Other construction, all land development and other land $12,801
    Loans secured by nonfarm nonresidential properties $167,066
    Nonfarm nonresidential secured by owner-occupied properties $85,225
    Commercial real estate & other non-farm, non-residential $81,841
    Multifamily residential real estate $14,535
    1-4 family residential loans $135,952
    Farmland loans $7,101
    Loans held in foreign offices $0
    Farm loans $981
    Commercial and industrial loans $44,624
    To non-U.S. addressees $0
    Loans to individuals $3,347
    Credit card loans $0
    Related Plans $206
    Consumer Auto Loans $2,018
    Other loans to individuals $1,123
    All other loans & leases $1,551
    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 $933
    Non 1-4 family restructured loans & leases $28
    Total loans and leases (foreign) $0

    Touchstone Bank had $398,480,000 of loans outstanding in 2021. $352,352,000 of loans were in real estate loans. $27,698,000 of loans were in development loans. $14,535,000 of loans were in multifamily mortgage loans. $135,952,000 of loans were in 1-4 family mortgage loans. $981,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,018,000 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 363 $79,706 $219,576
    Nonfarm, nonresidential loans - <$100k 81 $3,466 $42,790
    Nonfarm, nonresidential loans - $100-250k 120 $16,079 $133,992
    Nonfarm, nonresidential loans - $250k-1MM 162 $60,161 $371,364
    Commercial & Industrial, US addressed loans - <$1MM 539 $33,477 $62,109
    Commercial & Industrial, US addressed loans - <$100k 396 $10,176 $25,697
    Commercial & Industrial, US addressed loans - $100-250k 95 $9,649 $101,568
    Commercial & Industrial, US addressed loans - $250k-1MM 48 $13,652 $284,417
    Farmland loans - <$1MM 60 $5,454 $90,900
    Farmland loans - <$100k 32 $1,395 $43,594
    Farmland loans - $100-250k 23 $2,491 $108,304
    Farmland loans - $250k-1MM 5 $1,568 $313,600
    Agriculture operations loans - <$1MM 21 $981 $46,714
    Agriculture operations loans - <$100k 15 $361 $24,067
    Agriculture operations loans - $100-250k 5 $517 $103,400
    Agriculture operations loans - $250k-1MM 1 $103 $103,000