Bank Of The James Mortgage Rates, Fees & Info

Lynchburg, VA

LEI: 549300XV8D5BHDJZY155

Tax ID: 54-1918361

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    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. They have a low ratio of USDA loans. Their top markets by origination volume include: Lynchburg, Staunton, Charlottesville, Danville, and Harrisonburg 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.

    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.

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    Originations

    118

    Origination Dollar Volume (All Markets)

    $31,460,000

    Employee count

    155

    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) 82 $16,590,000 $202,317 $0 0.00%
    STAUNTON, VA (FHA|USDA|VA) 2 $4,860,000 $2,430,000 $0 0.00%
    Outside of Metro Areas 10 $3,200,000 $320,000 $0 0.00%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 9 $2,465,000 $273,889 $0 0.00%
    Danville, VA (FHA|USDA|VA) 3 $1,675,000 $558,333 $0 0.00%
    HARRISONBURG, VA (FHA|USDA|VA) 1 $1,345,000 $1,345,000 $0 0.00%
    ROANOKE, VA (FHA|USDA|VA) 8 $1,030,000 $128,750 $0 0.00%
    RICHMOND, VA (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $95,000 $95,000 $0 0.00%
    Martinsville, VA (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.00%
    Bank Of The James's top markets include Lynchburg, Staunton, Charlottesville, Danville, and Harrisonburg among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 117 $31,385,000 $268,248 $0 0.00%
    USDA 1 $75,000 $75,000 $0 0.00%

    For 2019, Bank Of The James's most frequently originated type of loan was Conventional, with 117 originations. Their 2nd most popular type was USDA, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 66 $22,380,000 $339,091 $0 0.00%
    Home Purchase 32 $7,590,000 $237,188 $0 0.00%
    Home Improvement 14 $910,000 $65,000 $0 0.00%
    Other 6 $580,000 $96,667 $0 0.00%

    For 2019, Bank Of The James's most frequently cited loan purpose was Refi, with 66 originations. The 2nd most popular reason was Home Purchase, with 32 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 118 $31,460,000 $266,610 $0 0.00%

    For 2019, Bank Of The James's most frequently cited loan duration was Other, with 118 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 53 $3,025,000 $57,075 $0 0.00%
    $100k-200k 30 $3,940,000 $131,333 $0 0.00%
    $200k-400k 20 $5,330,000 $266,500 $0 0.00%
    $1MM+ 6 $12,970,000 $2,161,667 $0 0.00%
    $600k-1MM 6 $4,540,000 $756,667 $0 0.00%
    $400k-600k 3 $1,655,000 $551,667 $0 0.00%

    2019 saw Bank Of The James place emphasis on $100,000 or less loans with 53 originations, totaling $3,025,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 19 $1,375,000 $72,368 $0 0.00%
    $150k-250k 12 $2,790,000 $232,500 $0 0.00%
    $100k-150k 11 $1,155,000 $105,000 $0 0.00%
    $75k-100k 10 $1,090,000 $109,000 $0 0.00%
    $50k-75k 5 $405,000 $81,000 $0 0.00%
    $250k+ 1 $125,000 $125,000 $0 0.00%

    Bank Of The James lent most frequently to those with incomes in the $50k or less range, with 19 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% 118 $31,460,000 $266,610 $0 0.00%

    Bank Of The James lent most frequently to those with DTI ratios of Exempt%, with 118 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 40 $19,710,000 $492,750 $0 0.00%
    White 70 $11,220,000 $160,286 $0 0.00%
    Black 7 $415,000 $59,286 $0 0.00%
    Not provided 1 $115,000 $115,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    89.68%

    Bank Of The James has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.05%

    Bank Of The James has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 118 $31,460,000 $266,610

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $1,305,000 $1,305,000
    Multifamily:Site-Built 7 $9,485,000 $1,355,000
    Single Family (1-4 Units):Manufactured 7 $535,000 $76,429
    Single Family (1-4 Units):Site-Built 103 $20,135,000 $195,485

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    BANK OF THE WEST Conventional home mortgage Struggling to pay mortgage 1 7.1%
    BANK OF THE WEST Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 7.1%
    BANK OF THE WEST Other type of mortgage Trouble during payment process 1 7.1%
    BANK OF THE WEST Other type of mortgage Closing on a mortgage 1 7.1%
    BANK OF THE WEST Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 7.1%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Trouble during payment process 2 14.3%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 7.1%
    BANK OF THE WEST Conventional home mortgage Trouble during payment process 6 42.9%

    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 $46,901
    Bank of the James 1391 South High Street Harrisonburg, VA 22801 Full Service B&M $21,545
    Bank of the James 1405 Old Dominion Blvd Bedford, VA 24523 Full Service B&M $45,364
    Bank of the James 164 South Main Street Amherst, VA 24521 Full Service B&M $40,384
    Bank of the James 17000 Forest Road Forest, VA 24551 Full Service B&M $90,284
    Bank of the James 1745 Confederate Blvd Appomattox, VA 24522 Full Service B&M $27,579
    Bank of the James 2101 Electric Rd Roanoke, VA 24018 Full Service B&M $12
    Bank of the James 225 Merchant Walk Ave Charlottesville, VA 22902 Full Service B&M $19,075
    Bank of the James 250 Pantops Mountain Road Charlottesville, VA 22911 Full Service Retail $3,567
    Bank of the James 3562 Electric Road Roanoke, VA 24018 Full Service Retail $11,987
    Bank of the James 45 South Main St Lexington, VA 24450 Full Service B&M $1
    Bank of the James 4698 S. Amherst Highway Madison Heights, VA 24572 Full Service B&M $47,658
    Bank of the James 4935 Boonsboro Road, Suite C Lynchburg, VA 24503 Full Service B&M $46,916
    Bank of the James 501 Ves Road Lynchburg, VA 24503 Limited, Mobile/Seasonal Office $16,304
    Bank of the James 5204 Fort Avenue Lynchburg, VA 24502 Full Service B&M $52,813
    Bank of the James 550 Water Street Charlottesville, VA 22902 Full Service B&M $1,121
    Bank of the James 615 Church Street Lynchburg, VA 24504 Full Service B&M $62,922
    Bank of the James 828 Main Street Lynchburg, VA 24504 Full Service B&M $83,520

    For 2019, Bank Of The James had 18 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $29,823
    Net interest income $24,832
    Total noninterest income $6,663
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $501
    Trading account gains and fees $0
    Additional Noninterest Income $6,162
    Pre-tax net operating income $7,055
    Securities gains (or losses, -) $394
    Income before extraordinary items $6,010
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $6,010
    Minority interest net income $0
    Net income $6,010
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $5,690

    Bank Of The James's gross interest income from loans was $29,823,000.
    Bank Of The James's net interest income from loans was $24,832,000.
    Bank Of The James's fee based income from loans was $501,000.
    Bank Of The James's net income from loans was $6,010,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,991
    Provision for credit losses $523
    Total noninterest expense $23,917
    Salaries and employee benefits $13,086
    Premises and equipment expense $2,959
    Additional noninterest expense $7,872
    Applicable income taxes $1,439
    Net charge-offs $275
    Cash dividends $1,800

    Bank Of The James's interest expense for loans was $4,991,000.
    Bank Of The James's payroll and benefits expense were $13,086,000.
    Bank Of The James's property, plant and equipment expenses $2,959,000.

    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 $650,009
    Deposits held in domestic offices $650,009
    Deposits by Individuals, partnerships, and corporations $634,568
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $15,441
    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 $309,426
    Demand deposits $100,090
    Nontransaction accounts $340,583
    Money market deposit accounts (MMDAs) $59,661
    Other savings deposits (excluding MMDAs) $88,219
    Total time deposits $192,702
    Total time and savings deposits $549,919
    Noninterest-bearing deposits $94,484
    Interest-bearing deposits $555,525
    Retail deposits $610,758
    IRAs and Keogh plan accounts $28,051
    Brokered deposits $10,020
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $725,686
    Cash & Balances due from depository institutions $39,451
    Interest-bearing balances $25,856
    Total securities $63,344
    Federal funds sold & reverse repurchase $126
    Net loans and leases $577,495
    Loan and leases loss allowance $4,829
    Trading account assets $0
    Bank premises and fixed assets $16,297
    Other real estate owned $2,339
    Goodwill and other intangibles $0
    All other assets $26,634

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $725,686
    Total Liabilities $659,429
    Total deposits $650,009
    Interest-bearing deposits $555,525
    Deposits held in domestic offices $650,009
    % insured (estimated) $85
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $9,420

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $577,495
    Loan and leases loss allowance $4,829
    Total loans and leases (domestic) $582,324
    All real estate loans $478,479
    Real estate loans in domestic offices $478,479
    Construction and development loans $42,682
    Residential 1-4 family construction $38,332
    Other construction, all land development and other land $4,350
    Loans secured by nonfarm nonresidential properties $194,287
    Nonfarm nonresidential secured by owner-occupied properties $115,044
    Commercial real estate & other non-farm, non-residential $79,243
    Multifamily residential real estate $55,899
    1-4 family residential loans $180,139
    Farmland loans $5,472
    Loans held in foreign offices $0
    Farm loans $1,095
    Commercial and industrial loans $85,462
    To non-U.S. addressees $0
    Loans to individuals $17,289
    Credit card loans $0
    Related Plans $3,298
    Consumer Auto Loans $2,082
    Other loans to individuals $11,909
    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 $8,885
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $410
    Non 1-4 family restructured loans & leases $410
    Total loans and leases (foreign) $0

    Bank of the James had $577,495,000 of loans outstanding in 2019. $478,479,000 of loans were in real estate loans. $42,682,000 of loans were in development loans. $55,899,000 of loans were in multifamily mortgage loans. $180,139,000 of loans were in 1-4 family mortgage loans. $1,095,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,082,000 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 487 $89,656 $184,099
    Nonfarm, nonresidential loans - <$100k 135 $5,578 $41,319
    Nonfarm, nonresidential loans - $100-250k 160 $17,657 $110,356
    Nonfarm, nonresidential loans - $250k-1MM 192 $66,421 $345,943
    Commercial & Industrial, US addressed loans - <$1MM 552 $38,207 $69,216
    Commercial & Industrial, US addressed loans - <$100k 356 $5,985 $16,812
    Commercial & Industrial, US addressed loans - $100-250k 94 $7,353 $78,223
    Commercial & Industrial, US addressed loans - $250k-1MM 102 $24,869 $243,814
    Farmland loans - <$1MM 10 $1,243 $124,300
    Farmland loans - <$100k 4 $256 $64,000
    Farmland loans - $100-250k 5 $821 $164,200
    Farmland loans - $250k-1MM 1 $166 $166,000
    Agriculture operations loans - <$1MM 3 $531 $177,000
    Agriculture operations loans - <$100k 1 $25 $25,000
    Agriculture operations loans - $250k-1MM 2 $506 $253,000