Applications / Mortgage Analytics / Lenders / Virginia / First Bank
Strasburg, VA · State member bank · FRS · $2.0 billion assets · 350 loans in 2025
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350
loans originated, 2025
499
applications, 2025
2
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
First Bank, a Virginia lender, has about doubled its lending since 2018, helped by two mergers, and spreads it almost evenly across four kinds of loan.
It made 350 loans in 2025, up 13% from 311. Similar lenders (state member banks making between half and twice as many loans) grew 6% and the whole market 10%. In 2018 it made 168. Its mergers with The Bank of Fincastle in 2021 and Touchstone Bank in 2024 may account for part of that growth.
Home improvement, its biggest line, was 28.6% of its loans, and other purposes 22.6%. Its typical loan was $110,000, against $195,000 at similar lenders, lower than at nearly nine in ten of them. Its home-improvement and other-purpose lending may account for much of that gap.
Low- and moderate-income (LMI) borrowers received 32.3% of its loans, against 27.7% at similar lenders. LMI areas received 19.8%, against 16.3%, more than at about two-thirds of peers. Majority-minority areas took 12.9%, up from 6.4%.
Its share rose to 0.2% in Richmond and 0.4% in Roanoke. In Winchester it ranks 21 of 303 lenders, with its share unchanged at 1.1%. In Staunton-Stuarts Draft it slipped to 0.6% from 0.8%; lending moving toward its larger markets is one possible reason.
Similar lenders: same lender type, originations between half and twice the lender's in the data year. Written from the 2025 HMDA data and checked figure by figure against it.
FIG. 1 — LOANS ORIGINATED, 2018–2025
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. First Bank took 499 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Home improvement 28.6% · Purchase 25.1% · Refinance 23.7% · Other 22.6%
Conventional 100.0% · of 350 loans. Purchase: buying a home. Refinance: replacing an existing mortgage, including cash-out. FHA: insured by the Federal Housing Administration. VA: guaranteed by the Department of Veterans Affairs. Conventional: neither.
SOURCE: FFIEC HMDA 2025, LOANS ORIGINATED
Where it lends, 2025
| State | Loans | Share |
|---|---|---|
| Virginia | 347 | 99.1% |
| North Carolina | 3 | 0.9% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Richmond | 79 |
| Winchester | 59 |
| Roanoke | 38 |
| Arlington-Alexandria-Reston | 28 |
| Staunton-Stuarts Draft | 28 |
| Harrisonburg | 7 |
| Lynchburg | 4 |
| Blacksburg-Christiansburg-Radford | 2 |
| Charlottesville | 1 |
| Durham-Chapel Hill | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 25490047DXSX2HF6QY47 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 899428 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 2899428 | 1994–2017 |
Established 1 July 1907. Reported under HMDA 1994-2025.
Mergers, name changes, data editions and corrections: First Bank's data.
First Bank's data
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