Summit Community Bank Mortgage Rates, Fees & Info

Moorefield, WV

LEI: Z867SNMO7WGY8TTGQG78

Tax ID: 55-0744997

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
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    • Mortgage Data

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

    Summit Community Bank is a smaller bank specializing in Home Purchase and Refi loans. Summit Community Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Washington, Virginia Beach, Harrisonburg, Fayetteville, and Charleston among others. We have data for 54 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Summit Community Bank 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. Summit Community Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.86% 11/22/24
    30 Year Conventional Purchase 7.04% 11/22/24
    30 Year Conventional Refi 6.85% 11/22/24
    30 Year Cash-out Refi 6.63% 11/22/24
    15 Year Conventional Purchase 7.63% 11/22/24
    15 Year Conventional Refi 6.97% 11/22/24
    15 Year Cash-out Refi 6.97% 11/22/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Summit Community Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Summit Community Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    1,310

    Origination Dollar Volume (All Markets)

    $427,300,000

    Employee count

    431

    Awards

    Summit Community Bank 30 Year Conventional Loans bronze Summit Community Bank 30 Year Conventional Loans gold Summit Community Bank 30 Year Conventional Loans bronze Summit Community Bank 30 Year Conventional Loans gold
    Show all (4) awards

    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
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 117 $71,285,000 $609,274 $4,620 1.44%
    Outside of Metro Areas 391 $58,855,000 $150,524 $3,115 2.80%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 3 $47,545,000 $15,848,333 $4,132 2.46%
    HARRISONBURG, VA (FHA|USDA|VA) 96 $40,870,000 $425,729 $3,046 2.66%
    FAYETTEVILLE, NC (FHA|USDA|VA) 2 $33,310,000 $16,655,000 $0 3.87%
    CHARLESTON, WV (FHA|USDA|VA) 133 $31,545,000 $237,180 $3,164 3.06%
    HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) 76 $23,070,000 $303,553 $3,306 2.67%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 72 $20,660,000 $286,944 $2,973 2.44%
    Bluefield, WV-VA (FHA|USDA|VA) 118 $13,670,000 $115,847 $3,093 2.26%
    BECKLEY, WV (FHA|USDA|VA) 66 $10,670,000 $161,667 $2,918 2.93%
    WINCHESTER, VA-WV (FHA|USDA|VA) 46 $8,750,000 $190,217 $3,254 2.34%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $7,905,000 $7,905,000 $0 4.49%
    MORGANTOWN, WV (FHA|USDA|VA) 32 $7,840,000 $245,000 $3,148 3.38%
    LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 25 $6,895,000 $275,800 $2,968 3.25%
    BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 29 $6,285,000 $216,724 $2,913 3.41%
    Richmond-Berea, KY (FHA|USDA|VA) 10 $4,100,000 $410,000 $3,721 3.83%
    Fairmont, WV (FHA|USDA|VA) 9 $3,735,000 $415,000 $4,014 3.11%
    Sevierville, TN (FHA|USDA|VA) 2 $2,790,000 $1,395,000 $0 4.00%
    RICHMOND, VA (FHA|USDA|VA) 1 $2,405,000 $2,405,000 $0 4.00%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 4 $2,180,000 $545,000 $5,055 3.62%
    STAUNTON, VA (FHA|USDA|VA) 7 $2,065,000 $295,000 $3,179 3.19%
    Frankfort, KY (FHA|USDA|VA) 2 $1,900,000 $950,000 $0 4.37%
    CUMBERLAND, MD-WV (FHA|USDA|VA) 8 $1,830,000 $228,750 $2,707 4.55%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $1,465,000 $1,465,000 $0 3.92%
    Clarksburg, WV (FHA|USDA|VA) 10 $1,420,000 $142,000 $3,915 2.97%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 4 $1,340,000 $335,000 $3,683 2.47%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $1,210,000 $605,000 $0 3.99%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $995,000 $995,000 $6,221 4.06%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 3 $855,000 $285,000 $3,113 3.06%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $830,000 $415,000 $0 3.75%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $795,000 $795,000 $0 3.63%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 3 $775,000 $258,333 $3,207 3.89%
    KNOXVILLE, TN (FHA|USDA|VA) 2 $700,000 $350,000 $3,621 2.81%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 3 $675,000 $225,000 $3,081 2.08%
    Kill Devil Hills, NC (FHA|USDA|VA) 1 $635,000 $635,000 $3,553 4.66%
    Greenwood, SC (FHA|USDA|VA) 2 $550,000 $275,000 $3,681 2.38%
    ROANOKE, VA (FHA|USDA|VA) 2 $520,000 $260,000 $3,993 3.31%
    WILMINGTON, NC (FHA|USDA|VA) 2 $440,000 $220,000 $3,670 1.50%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 2 $430,000 $215,000 $2,792 2.94%
    LOUISVILLE, KY (FHA|USDA|VA) 1 $425,000 $425,000 $0 3.75%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $395,000 $395,000 $5,245 4.50%
    ASHEVILLE, NC (FHA|USDA|VA) 1 $395,000 $395,000 $0 5.75%
    Athens, OH (FHA|USDA|VA) 1 $335,000 $335,000 $2,708 2.63%
    Mount Sterling, KY (FHA|USDA|VA) 2 $300,000 $150,000 $2,057 2.00%
    WHEELING, WV-OH (FHA|USDA|VA) 3 $275,000 $91,667 $3,168 1.96%
    Martinsville, VA (FHA|USDA|VA) 1 $265,000 $265,000 $3,155 3.84%
    Georgetown, SC (FHA|USDA|VA) 1 $225,000 $225,000 $3,829 3.94%
    PITTSBURGH, PA (FHA|USDA|VA) 2 $190,000 $95,000 $3,637 3.25%
    LYNCHBURG, VA (FHA|USDA|VA) 1 $165,000 $165,000 $2,449 2.38%
    AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $135,000 $135,000 $3,553 2.58%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $125,000 $125,000 $0 3.99%
    PARKERSBURG-VIENNA, WV (FHA|USDA|VA) 1 $125,000 $125,000 $2,568 4.38%
    WINSTON-SALEM, NC (FHA|USDA|VA) 1 $105,000 $105,000 $3,533 3.00%
    Point Pleasant, WV-OH (FHA|USDA|VA) 1 $45,000 $45,000 $0 5.29%
    Summit Community Bank's top markets include Washington, Virginia Beach, Harrisonburg, Fayetteville, and Charleston among others.

    Their top states include:
  • Virginia (FHA|USDA|VA)
  • West Virginia (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • District of Columbia (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Summit Community Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Huntington Federal Savings Bank
    Similarity Rank: 12
    New Peoples Bank, Inc.
    Similarity Rank: 187
    PATRIOT
    Similarity Rank: 228
    PARK VIEW FEDERAL CREDIT UNION
    Similarity Rank: 273
    DESCO
    Similarity Rank: 392
    Cedar Point Federal Credit Union
    Similarity Rank: 546
    DUPONT COMMUNITY
    Similarity Rank: 574
    Community Trust Bank, Inc.
    Similarity Rank: 590
    First Community Bank
    Similarity Rank: 615
    ASHLAND Credit Union
    Similarity Rank: 987

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 999 $390,575,000 $390,966 $3,183 3.45%
    HELOC 310 $36,570,000 $117,968 n/a 0.24%
    USDA 1 $155,000 $155,000 $5,099 2.50%

    For 2021, Summit Community Bank's most frequently originated type of loan was Conventional, with 999 originations. Their 2nd most popular type was HELOC, with 310 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 462 $230,040,000 $497,922 $3,392 3.95%
    Refi 413 $135,245,000 $327,470 $2,985 2.91%
    Home Improvement 187 $21,885,000 $117,032 $0 0.30%
    Cash Out Refi 163 $32,345,000 $198,436 $3,223 2.72%
    Other 85 $7,785,000 $91,588 $0 0.00%

    For 2021, Summit Community Bank's most frequently cited loan purpose was Home Purchase, with 462 originations. The 2nd most popular reason was Refi, with 413 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30+ year 357 $45,645,000 $127,857 $4,225 0.73%
    30 Year 350 $83,580,000 $238,800 $3,226 3.38%
    15 Year 254 $51,260,000 $201,811 $2,936 2.86%
    20 Year 205 $51,925,000 $253,293 $3,094 3.85%
    Other 71 $138,305,000 $1,947,958 $2,951 4.22%
    10 Year 49 $17,955,000 $366,429 $2,955 3.30%
    1 Year 10 $6,080,000 $608,000 $0 4.29%
    3 Year 7 $25,755,000 $3,679,286 $0 4.26%
    5 Year 7 $6,795,000 $970,714 $0 4.21%

    For 2021, Summit Community Bank's most frequently cited loan duration was 30+ year, with 357 originations. The 2nd most popular length was 30 Year, with 350 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 554 $114,030,000 $205,830
    $<1k 159 $30,135,000 $189,528
    $2k-3k 19 $6,085,000 $320,263
    $5k+ 4 $3,140,000 $785,000
    $3k-4k 3 $1,555,000 $518,333
    $4k-5k 2 $580,000 $290,000

    Summit Community Bank's average total fees were $3,226, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 554 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 524 $67,820,000 $129,427
    3-4% 279 $213,255,000 $764,355
    4-5% 244 $90,830,000 $372,254
    2.5-3% 207 $46,545,000 $224,855
    5-6% 46 $7,430,000 $161,522
    6-7% 4 $1,230,000 $307,500
    7-8% 4 $120,000 $30,000
    Over 8% 1 $55,000 $55,000

    During 2021, Summit Community Bank's average interest rate for loans was 3.38%, while their most frequently originated rate bucket for loans was <2.5%, with 524 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 445 $27,015,000 $60,708 $2,740 2.10%
    $100k-200k 410 $58,530,000 $142,756 $2,960 2.76%
    $200k-400k 280 $77,520,000 $276,857 $3,365 3.01%
    $400k-600k 96 $46,340,000 $482,708 $3,955 3.17%
    $1MM+ 43 $190,095,000 $4,420,814 $6,502 3.97%
    $600k-1MM 36 $27,800,000 $772,222 $6,595 3.92%

    2021 saw Summit Community Bank place emphasis on $100,000 or less loans with 445 originations, totaling $27,015,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 244 $39,850,000 $163,320 $3,174 2.33%
    $50k-75k 202 $27,070,000 $134,010 $2,968 2.65%
    $50k or less 190 $17,390,000 $91,526 $2,914 2.58%
    $75k-100k 177 $25,345,000 $143,192 $3,035 2.53%
    $250k+ 143 $50,845,000 $355,559 $4,073 2.17%
    $150k-250k 134 $32,440,000 $242,090 $3,408 2.22%

    Summit Community Bank lent most frequently to those with incomes in the $100k-150k range, with 244 originations. The second most popular income band? $50k-75k, with 202 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 334 $59,200,000 $177,246 $3,168 2.42%
    <20% 220 $37,770,000 $171,682 $3,002 2.13%
    30-36% 215 $38,365,000 $178,442 $3,161 2.50%
    40% 42 $6,900,000 $164,286 $3,247 2.73%
    42% 41 $7,085,000 $172,805 $3,411 2.48%
    36% 39 $8,245,000 $211,410 $3,729 2.59%
    38% 38 $6,200,000 $163,158 $3,385 1.89%
    41% 33 $4,715,000 $142,879 $3,000 2.38%
    37% 31 $3,515,000 $113,387 $3,141 2.37%
    39% 31 $4,975,000 $160,484 $3,833 2.27%
    44% 14 $4,060,000 $290,000 $3,360 2.86%
    47% 12 $1,680,000 $140,000 $2,965 2.43%
    >60% 11 $3,575,000 $325,000 $3,800 4.44%
    43% 11 $1,265,000 $115,000 $2,930 2.59%
    50-60% 10 $2,210,000 $221,000 $0 2.53%
    46% 7 $1,725,000 $246,429 $3,176 2.72%
    48% 7 $2,175,000 $310,714 $3,236 3.21%
    49% 5 $925,000 $185,000 $2,866 3.39%
    45% 5 $1,075,000 $215,000 $3,014 3.25%

    Summit Community Bank lent most frequently to those with DTI ratios of 20-30%, with 334 originations. The next most common DTI ratio? <20%, with 220 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 191 $228,315,000 $1,195,366 $0 4.16%
    White 932 $157,850,000 $169,367 $3,168 2.45%
    Not provided 159 $33,575,000 $211,164 $3,244 2.40%
    Asian 13 $3,625,000 $278,846 $3,044 1.85%
    Black 11 $3,095,000 $281,364 $3,586 3.00%
    American Indian 3 $485,000 $161,667 $3,209 3.09%
    Asian Indian 1 $355,000 $355,000 $3,915 2.75%

    Approval Rates

    Total approvals of all applications
    92.12%

    Summit Community Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    81.60%

    Summit Community Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,310 $427,300,000 $326,183

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,310 $427,300,000 $326,183

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 185 $26,365,000 $142,514 $3,030 1.21%
    40-60% 197 $58,805,000 $298,503 $3,127 2.63%
    60-80% 406 $129,000,000 $317,734 $3,184 3.14%
    80-100% 364 $197,000,000 $541,209 $3,253 3.85%
    Over 100% 6 $1,940,000 $323,333 $4,805 5.45%
    Under 20% 150 $13,350,000 $89,000 $2,823 0.45%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    SANDY SPRING BANCORP, INC. FHA mortgage Closing on a mortgage 1 20.0%
    SANDY SPRING BANCORP, INC. Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 20.0%
    SANDY SPRING BANCORP, INC. Home equity loan or line of credit (HELOC) Problem with a credit reporting company's investigation into an existing problem 1 20.0%
    SANDY SPRING BANCORP, INC. Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 20.0%
    SANDY SPRING BANCORP, INC. Other type of mortgage Closing on a mortgage 1 20.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Summit Community Bank, Inc 100 Akers Farm Rd Christiansburg, VA 24073 Full Service B&M $1,333
    Summit Community Bank, Inc 100 West Jubal Early Drive Winchester, VA 22601 Full Service B&M $125,478
    Summit Community Bank, Inc 101 West Main Street West Union, WV 26456 Full Service B&M $152,622
    Summit Community Bank, Inc 1049 Cook Parkway Oceana, WV 24870 Full Service B&M $51,616
    Summit Community Bank, Inc 108 Spruce Street Bluefield, VA 24605 Full Service B&M $42,456
    Summit Community Bank, Inc 114 James River & Kanawha Turnpike Rainelle, WV 25962 Full Service B&M $56,726
    Summit Community Bank, Inc 12030 Sunrise Valley Dr., Suite 170 Reston, VA 20191 Full Service B&M $18,425
    Summit Community Bank, Inc 1223 Stafford Drive Princeton, WV 24740 Full Service B&M $60,277
    Summit Community Bank, Inc 123 Bethel Rd Mac Arthur, WV 25873 Full Service B&M $10,534
    Summit Community Bank, Inc 145 Springhaven Drive Princeton, WV 24740 Full Service B&M $32,265
    Summit Community Bank, Inc 148 Ivanhoe Road Max Meadows, VA 24360 Full Service B&M $20,040
    Summit Community Bank, Inc 150 E Main St Salem, WV 26426 Full Service B&M $19,722
    Summit Community Bank, Inc 1705 Bypass Road Winchester, KY 40391 Full Service B&M $86,368
    Summit Community Bank, Inc 176 Courtyard St. Morgantown, WV 26501 Full Service B&M $5,383
    Summit Community Bank, Inc 1826 Harper Road Beckley, WV 25801 Full Service B&M $12,787
    Summit Community Bank, Inc 1925 Stone Spring Road, Suite 200 Rockingham, VA 22801 Full Service B&M $22,944
    Summit Community Bank, Inc 195 West Main Strret Monterey, VA 24465 Full Service B&M $71,715
    Summit Community Bank, Inc 200 First Street Mullens, WV 25882 Full Service B&M $93,298
    Summit Community Bank, Inc 200 Peppers Ferry Road Wytheville, VA 24382 Full Service B&M $33,618
    Summit Community Bank, Inc 2020 College Avenue Bluefield, WV 24701 Full Service B&M $27,240
    Summit Community Bank, Inc 204 Catoctin Circle Se Leesburg, VA 20175 Full Service B&M $68,304
    Summit Community Bank, Inc 224 South Main Street Harrisonburg, VA 22801 Full Service B&M $72,142
    Summit Community Bank, Inc 23 Scenic Highway Churchville, VA 24421 Full Service B&M $14,305
    Summit Community Bank, Inc 231 Aikens Center Martinsburg, WV 25401 Full Service B&M $39,619
    Summit Community Bank, Inc 2350 South Pleasant Valley Road Winchester, VA 22601 Full Service Retail $11,017
    Summit Community Bank, Inc 2402 Mountaineer Boulevard Charleston, WV 25309 Full Service B&M $121,691
    Summit Community Bank, Inc 251 West Lee Highway, Suite 730 Warrenton, VA 20186 Full Service B&M $59,963
    Summit Community Bank, Inc 300 North Main Street Moorefield, WV 26836 Full Service Cyber Office $47,522
    Summit Community Bank, Inc 300 North Main Street Moorefield, WV 26836 Full Service Cyber Office $386,992
    Summit Community Bank, Inc 310 North Main Street Moorefield, WV 26836 Full Service B&M $150,814
    Summit Community Bank, Inc 321 Temple Street Hinton, WV 25951 Full Service B&M $68,736
    Summit Community Bank, Inc 4377 Lamberton Road Pennsboro, WV 26415 Full Service B&M $34,982
    Summit Community Bank, Inc 5091 Gerrardstown Road Inwood, WV 25428 Full Service B&M $57,840
    Summit Community Bank, Inc 515 Appalachian Highway Pineville, WV 24874 Full Service B&M $58,170
    Summit Community Bank, Inc 525 Federal Street Bluefield, WV 24701 Limited, Drive-thru $96,110
    Summit Community Bank, Inc 564 North Main St. Franklin, WV 26807 Full Service B&M $42,304
    Summit Community Bank, Inc 57 S Main St Winchester, KY 40391 Full Service B&M $17,762
    Summit Community Bank, Inc 59 Upper Cove Rd. Mathias, WV 26812 Full Service B&M $24,865
    Summit Community Bank, Inc 620 Virginia Street East Charleston, WV 25301 Full Service B&M $79,774
    Summit Community Bank, Inc 651 Foxcroft Ave Martinsburg, WV 25401 Full Service B&M $75,731
    Summit Community Bank, Inc 88 Somerset Blvd Charles Town, WV 25414 Full Service B&M $34,651
    Summit Community Bank, Inc 90 South Grove Street Petersburg, WV 26847 Full Service B&M $164,600
    Summit Community Bank, Inc 910 Clay Street Rupert, WV 25984 Full Service B&M $23,264
    Summit Community Bank, Inc 9406 Sam Snead Highway Hot Springs, VA 24445 Full Service B&M $38,720

    For 2021, Summit Community Bank had 44 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $122,398
    Net interest income $112,412
    Total noninterest income $18,158
    Gross Fiduciary activities income $2,306
    Service charges on deposit accounts $5,560
    Trading account gains and fees $0
    Additional Noninterest Income $10,292
    Pre-tax net operating income $61,070
    Securities gains (or losses, -) $425
    Income before extraordinary items $49,002
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $49,002
    Minority interest net income $0
    Net income $49,002
    Sale, conversion, retirement of capital stock, net $55,265
    Net operating income $48,662

    Summit Community Bank's gross interest income from loans was $122,398,000.
    Summit Community Bank's net interest income from loans was $112,412,000.
    Summit Community Bank's fee based income from loans was $5,560,000.
    Summit Community Bank's net income from loans was $49,002,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $9,986
    Provision for credit losses $4,000
    Total noninterest expense $65,500
    Salaries and employee benefits $31,666
    Premises and equipment expense $11,729
    Additional noninterest expense $22,105
    Applicable income taxes $12,493
    Net charge-offs $954
    Cash dividends $12,100

    Summit Community Bank's interest expense for loans was $9,986,000.
    Summit Community Bank's payroll and benefits expense were $31,666,000.
    Summit Community Bank's property, plant and equipment expenses $11,729,000.

    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 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.3%
    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 $2,957,272
    Deposits held in domestic offices $2,957,272
    Deposits by Individuals, partnerships, and corporations $2,754,196
    Deposits by U.S. Government $2
    Deposits by States and political subdivisions in the U.S. $199,337
    Deposits by Commercial banks and other depository institutions in U.S. $3,737
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $360,301
    Demand deposits $226,124
    Nontransaction accounts $2,596,971
    Money market deposit accounts (MMDAs) $1,350,166
    Other savings deposits (excluding MMDAs) $698,156
    Total time deposits $548,649
    Total time and savings deposits $2,731,148
    Noninterest-bearing deposits $583,169
    Interest-bearing deposits $2,374,103
    Retail deposits $2,862,086
    IRAs and Keogh plan accounts $85,930
    Brokered deposits $14,677
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $3,555,648
    Cash & Balances due from depository institutions $78,363
    Interest-bearing balances $57,453
    Total securities $499,563
    Federal funds sold & reverse repurchase $0
    Net loans and leases $2,729,320
    Loan and leases loss allowance $32,298
    Trading account assets $0
    Bank premises and fixed assets $62,869
    Other real estate owned $9,857
    Goodwill and other intangibles $65,510
    All other assets $110,166

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $3,555,648
    Total Liabilities $3,136,091
    Total deposits $2,957,272
    Interest-bearing deposits $2,374,103
    Deposits held in domestic offices $2,957,272
    % insured (estimated) $76
    Federal funds purchased and repurchase agreements $146
    Trading liabilities $0
    Other borrowed funds $147,246
    Subordinated debt $0
    All other liabilities $31,427

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $2,729,320
    Loan and leases loss allowance $32,298
    Total loans and leases (domestic) $2,761,618
    All real estate loans $2,133,825
    Real estate loans in domestic offices $2,133,825
    Construction and development loans $246,844
    Residential 1-4 family construction $21,260
    Other construction, all land development and other land $225,584
    Loans secured by nonfarm nonresidential properties $1,090,744
    Nonfarm nonresidential secured by owner-occupied properties $457,870
    Commercial real estate & other non-farm, non-residential $632,874
    Multifamily residential real estate $233,157
    1-4 family residential loans $536,242
    Farmland loans $26,838
    Loans held in foreign offices $0
    Farm loans $5,064
    Commercial and industrial loans $346,014
    To non-U.S. addressees $0
    Loans to individuals $33,231
    Credit card loans $1,309
    Related Plans $926
    Consumer Auto Loans $16,099
    Other loans to individuals $14,897
    All other loans & leases $243,485
    Loans to foreign governments and official institutions $0
    Other loans $240,429
    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 $1,063
    Restructured Loans & leases $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Summit Community Bank had $2,729,320,000 of loans outstanding in 2021. $2,133,825,000 of loans were in real estate loans. $246,844,000 of loans were in development loans. $233,157,000 of loans were in multifamily mortgage loans. $536,242,000 of loans were in 1-4 family mortgage loans. $5,064,000 of loans were in farm loans. $1,309,000 of loans were in credit card loans. $16,099,000 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 638 $165,722 $259,752
    Nonfarm, nonresidential loans - <$100k 102 $5,236 $51,333
    Nonfarm, nonresidential loans - $100-250k 203 $25,167 $123,975
    Nonfarm, nonresidential loans - $250k-1MM 333 $135,319 $406,363
    Commercial & Industrial, US addressed loans - <$1MM 960 $87,741 $91,397
    Commercial & Industrial, US addressed loans - <$100k 611 $15,393 $25,193
    Commercial & Industrial, US addressed loans - $100-250k 194 $21,517 $110,912
    Commercial & Industrial, US addressed loans - $250k-1MM 155 $50,831 $327,942
    Farmland loans - <$1MM 71 $9,781 $137,761
    Farmland loans - <$100k 21 $771 $36,714
    Farmland loans - $100-250k 30 $3,715 $123,833
    Farmland loans - $250k-1MM 20 $5,295 $264,750
    Agriculture operations loans - <$1MM 99 $3,866 $39,051
    Agriculture operations loans - <$100k 85 $1,974 $23,224
    Agriculture operations loans - $100-250k 12 $1,278 $106,500
    Agriculture operations loans - $250k-1MM 2 $614 $307,000