Bank Of The James Mortgage Rates, Fees & Info

Lynchburg, VA

LEI: 549300XV8D5BHDJZY155

Tax ID: 54-1918361

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Mortgage Data

Bank Data

Review & Overview

Bank Of The James is a smaller bank specializing in Refi and Home Purchase loans. Bank Of The James has a high proportion of conventional loans. Their top markets by origination volume include: Lynchburg, Charlottesville, Harrisonburg, Roanoke, and Staunton among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

Bank Of The James 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

160

Origination Dollar Volume (All Markets)

$61,790,000

Employee count

150

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
LYNCHBURG, VA (FHA|USDA|VA) 122 $48,470,000 $397,295 $0 0.00%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 11 $6,545,000 $595,000 $0 0.00%
HARRISONBURG, VA (FHA|USDA|VA) 8 $2,210,000 $276,250 $0 0.00%
ROANOKE, VA (FHA|USDA|VA) 6 $2,060,000 $343,333 $0 0.00%
Outside of Metro Areas 5 $1,745,000 $349,000 $0 0.00%
STAUNTON, VA (FHA|USDA|VA) 2 $270,000 $135,000 $0 0.00%
BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 2 $180,000 $90,000 $0 0.00%
RICHMOND, VA (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
Danville, VA (FHA|USDA|VA) 2 $90,000 $45,000 $0 0.00%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.00%
Bank Of The James's top markets include Lynchburg, Charlottesville, Harrisonburg, Roanoke, and Staunton among others.

Their top states include:
  • Virginia (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 160 $61,790,000 $386,188 $0 0.00%

    For 2018, Bank Of The James's most frequently originated type of loan was Conventional, with 160 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 79 $25,655,000 $324,747 $0 0.00%
    Home Purchase 59 $34,935,000 $592,119 $0 0.00%
    Home Improvement 14 $630,000 $45,000 $0 0.00%
    Other 8 $570,000 $71,250 $0 0.00%

    For 2018, Bank Of The James's most frequently cited loan purpose was Refi, with 79 originations. The 2nd most popular reason was Home Purchase, with 59 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 160 $61,790,000 $386,188 $0 0.00%

    For 2018, Bank Of The James's most frequently cited loan duration was Other, with 160 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 64 $3,350,000 $52,344 $0 0.00%
    $200k-400k 30 $7,970,000 $265,667 $0 0.00%
    $100k-200k 27 $3,745,000 $138,704 $0 0.00%
    $400k-600k 14 $6,620,000 $472,857 $0 0.00%
    $600k-1MM 13 $9,985,000 $768,077 $0 0.00%
    $1MM+ 12 $30,120,000 $2,510,000 $0 0.00%

    2018 saw Bank Of The James place emphasis on $100,000 or less loans with 64 originations, totaling $3,350,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 19 $3,855,000 $202,895 $0 0.00%
    $100k-150k 17 $3,755,000 $220,882 $0 0.00%
    $50k-75k 15 $1,365,000 $91,000 $0 0.00%
    $50k or less 14 $740,000 $52,857 $0 0.00%
    $75k-100k 10 $1,420,000 $142,000 $0 0.00%
    $250k+ 5 $1,935,000 $387,000 $0 0.00%

    Bank Of The James lent most frequently to those with incomes in the $150k-250k range, with 19 originations. The second most popular income band? $100k-150k, with 17 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 160 $61,790,000 $386,188 $0 0.00%

    Bank Of The James lent most frequently to those with DTI ratios of Exempt%, with 160 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 60 $41,560,000 $692,667 $0 0.00%
    White 89 $19,725,000 $221,629 $0 0.00%
    Black 9 $405,000 $45,000 $0 0.00%
    Asian Indian 1 $65,000 $65,000 $0 0.00%
    Asian 1 $35,000 $35,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    88.06%

    Bank Of The James has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.38%

    Bank Of The James has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 160 $61,790,000 $386,188

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 2 $750,000 $375,000
    Multifamily:Site-Built 21 $31,675,000 $1,508,333
    Single Family (1-4 Units):Manufactured 4 $250,000 $62,500
    Single Family (1-4 Units):Site-Built 133 $29,115,000 $218,910

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    BANK OF THE WEST FHA mortgage Closing on a mortgage 1 3.7%
    BANK OF THE WEST Conventional home mortgage Trouble during payment process 1 3.7%
    BANK OF THE WEST Conventional home mortgage Struggling to pay mortgage 1 3.7%
    BANK OF THE WEST Conventional home mortgage Closing on a mortgage 2 7.4%
    BANK OF THE WEST Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 4 14.8%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Incorrect information on your report 2 7.4%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Closing on a mortgage 1 3.7%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 4 14.8%
    BANK OF THE WEST VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 3.7%
    BANK OF THE WEST Other type of mortgage Trouble during payment process 3 11.1%
    BANK OF THE WEST Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 3.7%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Trouble during payment process 5 18.5%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 3.7%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Bank of the James 1110 Main Street Altavista, VA 24517 Full Service B&M $45,578
    Bank of the James 1391 South High Street Harrisonburg, VA 22801 Full Service B&M $15,236
    Bank of the James 1405 Old Dominion Blvd Bedford, VA 24523 Full Service B&M $40,750
    Bank of the James 1430 Rolkin Court, Suite 203 Charlottesville, VA 22911 Limited, Administrative $0
    Bank of the James 164 South Main Street Amherst, VA 24521 Full Service B&M $38,570
    Bank of the James 17000 Forest Road Forest, VA 24551 Full Service B&M $88,090
    Bank of the James 1745 Confederate Blvd Appomattox, VA 24522 Full Service B&M $22,227
    Bank of the James 225 Merchant Walk Ave Charlottesville, VA 22902 Full Service B&M $13,479
    Bank of the James 250 Pantops Mountain Road Charlottesville, VA 22911 Full Service Retail $3,014
    Bank of the James 3562 Electric Road Roanoke, VA 24018 Full Service Retail $9,736
    Bank of the James 4698 S. Amherst Highway Madison Heights, VA 24572 Full Service B&M $46,830
    Bank of the James 4935 Boonsboro Road, Suite C Lynchburg, VA 24503 Full Service B&M $62,187
    Bank of the James 501 Ves Road Lynchburg, VA 24503 Limited, Mobile/Seasonal Office $11,611
    Bank of the James 5204 Fort Avenue Lynchburg, VA 24502 Full Service B&M $57,137
    Bank of the James 615 Church Street Lynchburg, VA 24504 Full Service B&M $55,891
    Bank of the James 828 Main Street Lynchburg, VA 24504 Full Service B&M $86,296

    For 2018, Bank Of The James had 16 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $27,127
    Net interest income $23,531
    Total noninterest income $5,080
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $500
    Trading account gains and fees $0
    Additional Noninterest Income $4,580
    Pre-tax net operating income $7,154
    Securities gains (or losses, -) $0
    Income before extraordinary items $5,713
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,713
    Minority interest net income $0
    Net income $5,713
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $5,713

    Bank Of The James's gross interest income from loans was $27,127,000.
    Bank Of The James's net interest income from loans was $23,531,000.
    Bank Of The James's fee based income from loans was $500,000.
    Bank Of The James's net income from loans was $5,713,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,596
    Provision for credit losses $717
    Total noninterest expense $20,740
    Salaries and employee benefits $11,273
    Premises and equipment expense $2,545
    Additional noninterest expense $6,922
    Applicable income taxes $1,441
    Net charge-offs $888
    Cash dividends $800

    Bank Of The James's interest expense for loans was $3,596,000.
    Bank Of The James's payroll and benefits expense were $11,273,000.
    Bank Of The James's property, plant and equipment expenses $2,545,000.

    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 1.0%
    Commercial & industrial loans 1.0%
    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 $612,802
    Deposits held in domestic offices $612,802
    Deposits by Individuals, partnerships, and corporations $602,000
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $10,802
    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 $261,306
    Demand deposits $92,050
    Nontransaction accounts $351,496
    Money market deposit accounts (MMDAs) $62,066
    Other savings deposits (excluding MMDAs) $100,041
    Total time deposits $189,389
    Total time and savings deposits $520,752
    Noninterest-bearing deposits $92,050
    Interest-bearing deposits $520,752
    Retail deposits $566,779
    IRAs and Keogh plan accounts $28,309
    Brokered deposits $20,064
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $675,259
    Cash & Balances due from depository institutions $50,253
    Interest-bearing balances $36,595
    Total securities $56,428
    Federal funds sold & reverse repurchase $132
    Net loans and leases $531,686
    Loan and leases loss allowance $4,581
    Trading account assets $0
    Bank premises and fixed assets $13,232
    Other real estate owned $2,431
    Goodwill and other intangibles $0
    All other assets $21,097

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $675,259
    Total Liabilities $615,449
    Total deposits $612,802
    Interest-bearing deposits $520,752
    Deposits held in domestic offices $612,802
    % insured (estimated) $86
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $2,647

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $531,686
    Loan and leases loss allowance $4,581
    Total loans and leases (domestic) $536,267
    All real estate loans $454,563
    Real estate loans in domestic offices $454,563
    Construction and development loans $34,589
    Residential 1-4 family construction $31,023
    Other construction, all land development and other land $3,566
    Loans secured by nonfarm nonresidential properties $184,076
    Nonfarm nonresidential secured by owner-occupied properties $103,359
    Commercial real estate & other non-farm, non-residential $80,717
    Multifamily residential real estate $47,017
    1-4 family residential loans $183,889
    Farmland loans $4,992
    Loans held in foreign offices $0
    Farm loans $679
    Commercial and industrial loans $72,054
    To non-U.S. addressees $0
    Loans to individuals $8,970
    Credit card loans $139
    Related Plans $4,575
    Consumer Auto Loans $1,939
    Other loans to individuals $2,317
    All other loans & leases $0
    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 $4,217
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $424
    Non 1-4 family restructured loans & leases $424
    Total loans and leases (foreign) $0

    Bank of the James had $531,686,000 of loans outstanding in 2018. $454,563,000 of loans were in real estate loans. $34,589,000 of loans were in development loans. $47,017,000 of loans were in multifamily mortgage loans. $183,889,000 of loans were in 1-4 family mortgage loans. $679,000 of loans were in farm loans. $139,000 of loans were in credit card loans. $1,939,000 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 476 $87,130 $183,046
    Nonfarm, nonresidential loans - <$100k 133 $5,629 $42,323
    Nonfarm, nonresidential loans - $100-250k 155 $17,366 $112,039
    Nonfarm, nonresidential loans - $250k-1MM 188 $64,135 $341,144
    Commercial & Industrial, US addressed loans - <$1MM 553 $41,208 $74,517
    Commercial & Industrial, US addressed loans - <$100k 354 $5,904 $16,678
    Commercial & Industrial, US addressed loans - $100-250k 97 $8,427 $86,876
    Commercial & Industrial, US addressed loans - $250k-1MM 102 $26,877 $263,500
    Farmland loans - <$1MM 8 $928 $116,000
    Farmland loans - <$100k 3 $184 $61,333
    Farmland loans - $100-250k 4 $562 $140,500
    Farmland loans - $250k-1MM 1 $182 $182,000
    Agriculture operations loans - <$1MM 3 $675 $225,000
    Agriculture operations loans - $100-250k 1 $116 $116,000
    Agriculture operations loans - $250k-1MM 2 $559 $279,500