Applications / Mortgage Analytics / Lenders / Virginia / Select Bank
Forest, VA · State member bank · FRS · $513 million assets · 104 loans in 2025
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104
loans originated, 2025
118
applications, 2025
3
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Select Bank, a Virginia lender centered on Lynchburg, grew its loans by more than half in 2025 and lends heavily in poorer and majority-minority neighborhoods.
Loans rose 53%, to 104, faster than about nine in ten similar lenders, state member banks making between half and twice as many loans. The typical peer grew by 8%. The rise restores some of the ground lost in 2024, when loans fell to 68 from 123.
In Lynchburg, its largest market, its share rose from 0.7% to 1.0%, placing it 24 of 329. Bank of America leads there by a wide margin.
Some 30.1% of its loans went to low- and moderate-income (LMI) neighborhoods, against 17.0% at peers, and 23.1% to majority-minority neighborhoods, against 5.7%. Both are higher than at more than four in five peers. Yet only 7.7% went to LMI borrowers, against 27.2%, among the lowest tenth.
One possibility is that it lends in poorer areas to buyers with higher incomes. Two features would fit: purchases are 76.9% of its lending, and its typical loan of $215,000 is above the $175,000 at peers.
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Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Years with no HMDA report from this lender are left out: since 2020 a bank making fewer than 100 closed-end loans a year need not report. Select Bank took 118 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 76.9% · Refinance 21.2% · Home improvement 1.9%
Conventional 100.0% · of 104 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 | 56 | 53.8% |
| North Carolina | 47 | 45.2% |
| South Carolina | 1 | 1.0% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Lynchburg | 47 |
| Greensboro-High Point | 15 |
| Burlington | 13 |
| Durham-Chapel Hill | 5 |
| Pinehurst-Southern Pines | 4 |
| Charlottesville | 3 |
| Staunton-Stuarts Draft | 3 |
| Winston-Salem | 3 |
| Wilmington | 2 |
| Arlington-Alexandria-Reston | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300X8XJW35HJ7M023 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 3567269 | 2010–2023 |
| Respondent ID (the HMDA filer code before 2018) | 23567269 | 2008–2017 |
Established 4 June 2007. Reported under HMDA 2008-2025.
Mergers, name changes, data editions and corrections: Select Bank's data.
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