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. Their top markets by origination volume include: Lynchburg, Virginia Beach, Harrisonburg, Roanoke, and Charlottesville among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Bank Of The James has an above 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

    81

    Origination Dollar Volume (All Markets)

    $32,405,000

    Employee count

    158

    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) 48 $13,690,000 $285,208 $0 0.00%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 2 $5,640,000 $2,820,000 $0 0.00%
    HARRISONBURG, VA (FHA|USDA|VA) 7 $5,565,000 $795,000 $0 0.00%
    ROANOKE, VA (FHA|USDA|VA) 12 $3,390,000 $282,500 $0 0.00%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 4 $1,730,000 $432,500 $0 0.00%
    Outside of Metro Areas 3 $1,325,000 $441,667 $0 0.00%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $785,000 $785,000 $0 0.00%
    BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
    Danville, VA (FHA|USDA|VA) 3 $125,000 $41,667 $0 0.00%
    Bank Of The James's top markets include Lynchburg, Virginia Beach, Harrisonburg, Roanoke, and Charlottesville among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 81 $32,405,000 $400,062 $0 0.00%

    For 2021, Bank Of The James's most frequently originated type of loan was Conventional, with 81 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 37 $18,985,000 $513,108 $0 0.00%
    Home Purchase 36 $11,900,000 $330,556 $0 0.00%
    Home Improvement 5 $1,315,000 $263,000 $0 0.00%
    Other 3 $205,000 $68,333 $0 0.00%

    For 2021, Bank Of The James's most frequently cited loan purpose was Refi, with 37 originations. The 2nd most popular reason was Home Purchase, with 36 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 81 $32,405,000 $400,062 $0 0.00%

    For 2021, Bank Of The James's most frequently cited loan duration was Other, with 81 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 27 $1,655,000 $61,296 $0 0.00%
    $100k-200k 25 $3,415,000 $136,600 $0 0.00%
    $200k-400k 11 $3,275,000 $297,727 $0 0.00%
    $1MM+ 8 $17,540,000 $2,192,500 $0 0.00%
    $400k-600k 5 $2,555,000 $511,000 $0 0.00%
    $600k-1MM 5 $3,965,000 $793,000 $0 0.00%

    2021 saw Bank Of The James place emphasis on $100,000 or less loans with 27 originations, totaling $1,655,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 10 $610,000 $61,000 $0 0.00%
    $150k-250k 6 $1,630,000 $271,667 $0 0.00%
    $50k-75k 5 $345,000 $69,000 $0 0.00%
    $100k-150k 4 $570,000 $142,500 $0 0.00%
    $75k-100k 3 $395,000 $131,667 $0 0.00%
    $250k+ 2 $1,490,000 $745,000 $0 0.00%

    Bank Of The James lent most frequently to those with incomes in the $50k or less range, with 10 originations. The second most popular income band? $150k-250k, with 6 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 81 $32,405,000 $400,062 $0 0.00%

    Bank Of The James lent most frequently to those with DTI ratios of Exempt%, with 81 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 37 $23,655,000 $639,324 $0 0.00%
    White 35 $8,105,000 $231,571 $0 0.00%
    Not provided 4 $380,000 $95,000 $0 0.00%
    Black 4 $220,000 $55,000 $0 0.00%
    Asian 1 $45,000 $45,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.23%

    Bank Of The James has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.72%

    Bank Of The James has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 81 $32,405,000 $400,062

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    81 $32,405,000 $400,062

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    BANK OF THE WEST Conventional home mortgage Trouble during payment process 6 20.0%
    BANK OF THE WEST VA mortgage Trouble during payment process 1 3.3%
    BANK OF THE WEST Other type of mortgage Trouble during payment process 2 6.7%
    BANK OF THE WEST Other type of mortgage Struggling to pay mortgage 1 3.3%
    BANK OF THE WEST Other type of mortgage Closing on a mortgage 1 3.3%
    BANK OF THE WEST Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 3.3%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Trouble during payment process 3 10.0%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Closing on a mortgage 4 13.3%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 2 6.7%
    BANK OF THE WEST FHA mortgage Trouble during payment process 1 3.3%
    BANK OF THE WEST Conventional home mortgage Struggling to pay mortgage 2 6.7%
    BANK OF THE WEST Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 5 16.7%
    BANK OF THE WEST Conventional home mortgage Closing on a mortgage 1 3.3%

    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 $49,557
    Bank of The James 13 Village Highway Rustburg, VA 24588 Full Service B&M $5,088
    Bank of The James 1391 South High Street Harrisonburg, VA 22801 Full Service B&M $44,741
    Bank of The James 1405 Old Dominion Blvd Bedford, VA 24523 Full Service B&M $65,275
    Bank of The James 164 South Main Street Amherst, VA 24521 Full Service B&M $48,936
    Bank of The James 17000 Forest Road Forest, VA 24551 Full Service B&M $121,904
    Bank of The James 1745 Confederate Blvd Appomattox, VA 24522 Full Service B&M $44,093
    Bank of The James 2101 Electric Rd Roanoke, VA 24018 Full Service B&M $5,135
    Bank of The James 225 Merchant Walk Ave Charlottesville, VA 22902 Full Service B&M $23,568
    Bank of The James 250 Pantops Mountain Road Charlottesville, VA 22911 Full Service Retail $4,168
    Bank of The James 3562 Electric Road Roanoke, VA 24018 Full Service Retail $10,450
    Bank of The James 45 South Main St Lexington, VA 24450 Full Service B&M $6,687
    Bank of The James 4698 S. Amherst Highway Madison Heights, VA 24572 Full Service B&M $52,686
    Bank of The James 4935 Boonsboro Road, Suite C Lynchburg, VA 24503 Full Service B&M $68,194
    Bank of The James 501 Ves Road Lynchburg, VA 24503 Limited, Mobile/Seasonal Office $16,459
    Bank of The James 5204 Fort Avenue Lynchburg, VA 24502 Full Service B&M $60,089
    Bank of The James 550 Water Street Charlottesville, VA 22902 Full Service B&M $13,283
    Bank of The James 828 Main Street Lynchburg, VA 24504 Full Service B&M $182,653

    For 2021, Bank Of The James had 18 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $29,182
    Net interest income $27,513
    Total noninterest income $11,471
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $465
    Trading account gains and fees $0
    Additional Noninterest Income $11,006
    Pre-tax net operating income $10,176
    Securities gains (or losses, -) $0
    Income before extraordinary items $8,199
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $8,199
    Minority interest net income $0
    Net income $8,199
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $8,199

    Bank Of The James's gross interest income from loans was $29,182,000.
    Bank Of The James's net interest income from loans was $27,513,000.
    Bank Of The James's fee based income from loans was $465,000.
    Bank Of The James's net income from loans was $8,199,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,669
    Provision for credit losses $-500
    Total noninterest expense $29,308
    Salaries and employee benefits $16,371
    Premises and equipment expense $3,238
    Additional noninterest expense $9,699
    Applicable income taxes $1,977
    Net charge-offs $-258
    Cash dividends $0

    Bank Of The James's interest expense for loans was $1,669,000.
    Bank Of The James's payroll and benefits expense were $16,371,000.
    Bank Of The James's property, plant and equipment expenses $3,238,000.

    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 $890,223
    Deposits held in domestic offices $890,223
    Deposits by Individuals, partnerships, and corporations $864,525
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $25,698
    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 $536,073
    Demand deposits $179,870
    Nontransaction accounts $354,150
    Money market deposit accounts (MMDAs) $89,300
    Other savings deposits (excluding MMDAs) $122,080
    Total time deposits $142,769
    Total time and savings deposits $710,353
    Noninterest-bearing deposits $165,453
    Interest-bearing deposits $724,770
    Retail deposits $860,096
    IRAs and Keogh plan accounts $26,372
    Brokered deposits $11,102
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $977,506
    Cash & Balances due from depository institutions $183,530
    Interest-bearing balances $172,605
    Total securities $164,922
    Federal funds sold & reverse repurchase $114
    Net loans and leases $578,096
    Loan and leases loss allowance $6,915
    Trading account assets $0
    Bank premises and fixed assets $18,164
    Other real estate owned $761
    Goodwill and other intangibles $0
    All other assets $31,919

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $977,506
    Total Liabilities $900,003
    Total deposits $890,223
    Interest-bearing deposits $724,770
    Deposits held in domestic offices $890,223
    % insured (estimated) $74
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $9,780

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $578,096
    Loan and leases loss allowance $6,915
    Total loans and leases (domestic) $585,011
    All real estate loans $484,616
    Real estate loans in domestic offices $484,616
    Construction and development loans $65,858
    Residential 1-4 family construction $45,518
    Other construction, all land development and other land $20,340
    Loans secured by nonfarm nonresidential properties $221,853
    Nonfarm nonresidential secured by owner-occupied properties $128,356
    Commercial real estate & other non-farm, non-residential $93,497
    Multifamily residential real estate $50,271
    1-4 family residential loans $136,592
    Farmland loans $10,042
    Loans held in foreign offices $0
    Farm loans $4,788
    Commercial and industrial loans $77,817
    To non-U.S. addressees $0
    Loans to individuals $17,790
    Credit card loans $0
    Related Plans $1,875
    Consumer Auto Loans $1,402
    Other loans to individuals $14,513
    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 $1,357
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $372
    Non 1-4 family restructured loans & leases $372
    Total loans and leases (foreign) $0

    Bank of the James had $578,096,000 of loans outstanding in 2021. $484,616,000 of loans were in real estate loans. $65,858,000 of loans were in development loans. $50,271,000 of loans were in multifamily mortgage loans. $136,592,000 of loans were in 1-4 family mortgage loans. $4,788,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,402,000 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 448 $83,454 $186,281
    Nonfarm, nonresidential loans - <$100k 117 $4,119 $35,205
    Nonfarm, nonresidential loans - $100-250k 147 $16,228 $110,395
    Nonfarm, nonresidential loans - $250k-1MM 184 $63,107 $342,973
    Commercial & Industrial, US addressed loans - <$1MM 581 $40,688 $70,031
    Commercial & Industrial, US addressed loans - <$100k 375 $6,242 $16,645
    Commercial & Industrial, US addressed loans - $100-250k 110 $9,134 $83,036
    Commercial & Industrial, US addressed loans - $250k-1MM 96 $25,312 $263,667
    Farmland loans - <$1MM 12 $1,443 $120,250
    Farmland loans - <$100k 3 $162 $54,000
    Farmland loans - $100-250k 7 $831 $118,714
    Farmland loans - $250k-1MM 2 $450 $225,000
    Agriculture operations loans - <$1MM 7 $585 $83,571
    Agriculture operations loans - <$100k 4 $197 $49,250
    Agriculture operations loans - $250k-1MM 3 $388 $129,333