Virginia National Bank Mortgage Rates, Fees & Info
Charlottesville, VALEI: 549300XE6SNRPD2GUD44
Tax ID: 54-1902129
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Mortgage Data
Bank Data
Review & Overview
Virginia National Bank is a smaller bank specializing in Home Purchase and Refi loans. Virginia National Bank has a high proportion of conventional loans. Their top markets by origination volume include: Richmond, Charlottesville, Hagerstown, Washington, and Winchester among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)Virginia National Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
113Origination Dollar Volume (All Markets)
$77,165,000Employee count
84Top 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) | 62 | $42,960,000 | $692,903 | $0 | 0.00% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 23 | $15,435,000 | $671,087 | $0 | 0.00% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 1 | $7,805,000 | $7,805,000 | $0 | 0.00% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 2 | $3,280,000 | $1,640,000 | $0 | 0.00% |
| Outside of Metro Areas | 9 | $2,755,000 | $306,111 | $0 | 0.00% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 4 | $1,250,000 | $312,500 | $0 | 0.00% |
| HARRISONBURG, VA (FHA|USDA|VA) | 1 | $715,000 | $715,000 | $0 | 0.00% |
| BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $0 | 0.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $535,000 | $535,000 | $0 | 0.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $0 | 0.00% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 0.00% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 0.00% |
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
| ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
| Mount Airy, NC (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 113 | $77,165,000 | $682,876 | $0 | 0.00% |
For 2020, Virginia National Bank's most frequently originated type of loan was Conventional, with 113 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 63 | $41,695,000 | $661,825 | $0 | 0.00% |
| Refi | 50 | $35,470,000 | $709,400 | $0 | 0.00% |
For 2020, Virginia National Bank's most frequently cited loan purpose was Home Purchase, with 63 originations. The 2nd most popular reason was Refi, with 50 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 113 | $77,165,000 | $682,876 | $0 | 0.00% |
For 2020, Virginia National Bank's most frequently cited loan duration was Other, with 113 originations.
Loan Sizing
2020 saw Virginia National Bank place emphasis on $100k-200k loans with 35 originations, totaling $4,885,000 in origination value.
Applicant Income
Virginia National Bank lent most frequently to those with incomes in the $250k+ range, with 16 originations. The second most popular income band? $150k-250k, with 12 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 113 | $77,165,000 | $682,876 | $0 | 0.00% |
Virginia National Bank lent most frequently to those with DTI ratios of Exempt%, with 113 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications86.79%
Virginia National Bank has an average approval rate.
Pick Rate
Approvals leading to origination77.88%
Virginia National Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 113 | $77,165,000 | $682,876 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| VIRGINIA HOUSING DEVELOPMENT AUTHORITY | FHA mortgage | Struggling to pay mortgage | 1 | 100.0% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Virginia National Bank | 1580 Seminole Trail Charlottesville, VA 22901 | Full Service B&M | $31,053 |
| Virginia National Bank | 1900 Arlington Blvd. Charlottesville, VA 22903 | Full Service B&M | $169,187 |
| Virginia National Bank | 222 East Main Street Charlottesville, VA 22902 | Full Service B&M | $176,914 |
| Virginia National Bank | 301 East Water Street Charlottesville, VA 22902 | Limited, Drive-thru | $0 |
| Virginia National Bank | 3119 Valley Avenue #102 Winchester, VA 22601 | Full Service B&M | $31,586 |
| Virginia National Bank | 404 People Place Charlottesville, VA 22911 | Full Service B&M | $307,256 |
For 2020, Virginia National Bank had 6 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $27,230 |
| Net interest income | $23,879 |
| Total noninterest income | $5,411 |
| Gross Fiduciary activities income | $722 |
| Service charges on deposit accounts | $651 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $4,038 |
| Pre-tax net operating income | $10,818 |
| Securities gains (or losses, -) | $744 |
| Income before extraordinary items | $9,260 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $9,260 |
| Minority interest net income | $0 |
| Net income | $9,260 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $8,664 |
Virginia National Bank's gross interest income from loans was $27,230,000.
Virginia National Bank's net interest income from loans was $23,879,000.
Virginia National Bank's fee based income from loans was $651,000.
Virginia National Bank's net income from loans was $9,260,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $3,351 |
| Provision for credit losses | $1,622 |
| Total noninterest expense | $16,850 |
| Salaries and employee benefits | $8,924 |
| Premises and equipment expense | $2,341 |
| Additional noninterest expense | $5,585 |
| Applicable income taxes | $2,302 |
| Net charge-offs | $376 |
| Cash dividends | $4,400 |
Virginia National Bank's interest expense for loans was $3,351,000.
Virginia National Bank's payroll and benefits expense were $8,924,000.
Virginia National Bank's property, plant and equipment expenses $2,341,000.
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 | $732,624 |
| Deposits held in domestic offices | $732,624 |
| Deposits by Individuals, partnerships, and corporations | $684,889 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $45,251 |
| Deposits by Commercial banks and other depository institutions in U.S. | $2,484 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $78,242 |
| Demand deposits | $57,418 |
| Nontransaction accounts | $654,382 |
| Money market deposit accounts (MMDAs) | $552,669 |
| Other savings deposits (excluding MMDAs) | $2,611 |
| Total time deposits | $99,102 |
| Total time and savings deposits | $675,206 |
| Noninterest-bearing deposits | $211,632 |
| Interest-bearing deposits | $520,992 |
| Retail deposits | $698,162 |
| IRAs and Keogh plan accounts | $7,829 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $848,730 |
| Cash & Balances due from depository institutions | $34,695 |
| Interest-bearing balances | $26,579 |
| Total securities | $174,085 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $603,951 |
| Loan and leases loss allowance | $5,455 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $8,734 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $713 |
| All other assets | $26,552 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $848,730 |
| Total Liabilities | $766,811 |
| Total deposits | $732,624 |
| Interest-bearing deposits | $520,992 |
| Deposits held in domestic offices | $732,624 |
| % insured (estimated) | $69 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $33,589 |
| Subordinated debt | $0 |
| All other liabilities | $598 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $603,951 |
| Loan and leases loss allowance | $5,455 |
| Total loans and leases (domestic) | $609,406 |
| All real estate loans | $432,584 |
| Real estate loans in domestic offices | $432,584 |
| Construction and development loans | $22,509 |
| Residential 1-4 family construction | $2,238 |
| Other construction, all land development and other land | $20,271 |
| Loans secured by nonfarm nonresidential properties | $233,619 |
| Nonfarm nonresidential secured by owner-occupied properties | $95,551 |
| Commercial real estate & other non-farm, non-residential | $138,068 |
| Multifamily residential real estate | $43,490 |
| 1-4 family residential loans | $127,294 |
| Farmland loans | $5,672 |
| Loans held in foreign offices | $0 |
| Farm loans | $62 |
| Commercial and industrial loans | $113,574 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $58,135 |
| Credit card loans | $0 |
| Related Plans | $17,624 |
| Consumer Auto Loans | $16 |
| Other loans to individuals | $40,495 |
| All other loans & leases | $5,051 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $5,051 |
| 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 | $1,265 |
| Non 1-4 family restructured loans & leases | $1,156 |
| Total loans and leases (foreign) | $0 |
Virginia National Bank had $603,951,000 of loans outstanding in 2020. $432,584,000 of loans were in real estate loans. $22,509,000 of loans were in development loans. $43,490,000 of loans were in multifamily mortgage loans. $127,294,000 of loans were in 1-4 family mortgage loans. $62,000 of loans were in farm loans. $0 of loans were in credit card loans. $16,000 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 | 152 | $47,163 | $310,283 |
| Nonfarm, nonresidential loans - <$100k | 7 | $306 | $43,714 |
| Nonfarm, nonresidential loans - $100-250k | 30 | $3,310 | $110,333 |
| Nonfarm, nonresidential loans - $250k-1MM | 115 | $43,547 | $378,670 |
| Commercial & Industrial, US addressed loans - <$1MM | 668 | $54,043 | $80,903 |
| Commercial & Industrial, US addressed loans - <$100k | 419 | $8,639 | $20,618 |
| Commercial & Industrial, US addressed loans - $100-250k | 137 | $13,326 | $97,270 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 112 | $32,078 | $286,411 |
| Farmland loans - <$1MM | 11 | $2,411 | $219,182 |
| Farmland loans - <$100k | 2 | $160 | $80,000 |
| Farmland loans - $100-250k | 4 | $442 | $110,500 |
| Farmland loans - $250k-1MM | 5 | $1,809 | $361,800 |
| Agriculture operations loans - <$1MM | 1 | $62 | $62,000 |
| Agriculture operations loans - <$100k | 1 | $62 | $62,000 |