Trustmark National Bank

Jackson, MS 39205

LEI: 01J4SO3XTWZF4PP38209

Tax ID: 64-0180810

2019 Data | 2018 Data


Overview

Trustmark National Bank is a small mortgage company specializing in Home Purchase and Refi loans. Trustmark National Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Jackson, Birmingham, Montgomery, Daphne, and Mobile among others. They have an average approval rate for mortages when compared nationally -- and they have a below average pick rate when compared to the same sample of other lendors. Trustmark National Bank is typically a low fee lendor.


Originations

10,847

Origination Dollar Volume (All Markets)

$1,961,515,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 7,917 $1,408,305,000 $177,884
FHA 1,737 $292,395,000 $168,333
VA 902 $218,480,000 $242,217
USDA 291 $42,335,000 $145,481

Conventional loans are assumed to be 20% downpayment and either fixed/adjustable rate. FHA loans start at 3.5% downpayment and are targeted towards first time homebuyers who will be owner-occupants. USDA loans target agrarian uses such as farms. VA loans are available to members of the military. FHA, USDA and VA loans are typically subsidized by the government so as to have more favorable terms for the borrower.

Loan Reason

Loan Reason Originations Total Value Average Loan
Home Purchase 6,357 $1,272,695,000 $200,204
Home Improvement 288 $15,380,000 $53,403
Other 1,241 $76,875,000 $61,946
Refi 2,218 $438,870,000 $197,867
Cash Out Refi 743 $157,695,000 $212,241

Home purchase and refinance loans are typically offered by even the most prudent banks. Cash out refi loans typically carry higher fees-- they allow homeowners to get loans against the equity (appreciated value) of their home, but can be used irresponsibly. Lendors with a high ratio of cash out refi loans may be exposed in the event of an economic downturn, and may be more aggressive with their fee schedules.

Top Markets

Market Originations Total Value Average Loan
JACKSON, MS 2,010 $334,370,000 $166,353
Outside of Metro Areas 2,176 $281,690,000 $129,453
BIRMINGHAM-HOOVER, AL 621 $162,085,000 $261,006
MONTGOMERY, AL 762 $150,050,000 $196,916
DAPHNE-FAIRHOPE-FOLEY, AL 597 $141,175,000 $236,474
MOBILE, AL 674 $120,690,000 $179,065
MEMPHIS, TN-MS-AR 679 $105,065,000 $154,735
PANAMA CITY, FL 635 $104,365,000 $164,354
HUNTSVILLE, AL 355 $74,235,000 $209,113
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 244 $73,550,000 $301,434
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 179 $69,945,000 $390,754
HATTIESBURG, MS 415 $58,725,000 $141,506
GULFPORT-BILOXI, MS 389 $54,905,000 $141,144
FLORENCE-MUSCLE SHOALS, AL 295 $40,625,000 $137,712
SUMTER, SC 176 $31,680,000 $180,000
AUBURN-OPELIKA, AL 133 $30,135,000 $226,579
TUSCALOOSA, AL 105 $24,975,000 $237,857
PENSACOLA-FERRY PASS-BRENT, FL 95 $23,335,000 $245,632
DECATUR, AL 65 $9,815,000 $151,000
SHREVEPORT-BOSSIER CITY, LA 35 $8,335,000 $238,143
COLUMBIA, SC 40 $6,900,000 $172,500
BATON ROUGE, LA 26 $6,540,000 $251,538
LAFAYETTE, LA 1 $6,225,000 $6,225,000
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 16 $5,350,000 $334,375
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 11 $3,695,000 $335,909
NEW ORLEANS-METAIRIE, LA 11 $3,305,000 $300,455
AUSTIN-ROUND ROCK-GEORGETOWN, TX 5 $2,945,000 $589,000
TALLAHASSEE, FL 8 $2,430,000 $303,750
TAMPA-ST. PETERSBURG-CLEARWATER, FL 4 $1,510,000 $377,500
CHARLOTTE-CONCORD-GASTONIA, NC-SC 6 $1,360,000 $226,667
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 2 $1,230,000 $615,000
GREENVILLE-ANDERSON, SC 2 $1,140,000 $570,000
HAMMOND, LA 6 $1,090,000 $181,667
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC 5 $1,065,000 $213,000
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR 5 $1,055,000 $211,000
CHATTANOOGA, TN-GA 3 $1,005,000 $335,000
SPARTANBURG, SC 3 $1,005,000 $335,000
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 2 $980,000 $490,000
GAINESVILLE, FL 1 $955,000 $955,000
COLLEGE STATION-BRYAN, TX 3 $905,000 $301,667
GADSDEN, AL 6 $850,000 $141,667
HILTON HEAD ISLAND-BLUFFTON, SC 1 $705,000 $705,000
DOTHAN, AL 5 $635,000 $127,000
MIDLAND, TX 1 $625,000 $625,000
LEXINGTON-FAYETTE, KY 1 $625,000 $625,000
DALLAS-PLANO-IRVING, TX 2 $530,000 $265,000
FORT WORTH-ARLINGTON-GRAPEVINE, TX 2 $520,000 $260,000
SAVANNAH, GA 2 $450,000 $225,000
KNOXVILLE, TN 2 $450,000 $225,000
HICKORY-LENOIR-MORGANTON, NC 1 $425,000 $425,000
JACKSON, TN 2 $420,000 $210,000
PALM BAY-MELBOURNE-TITUSVILLE, FL 1 $415,000 $415,000
RALEIGH-CARY, NC 1 $365,000 $365,000
FLORENCE, SC 1 $335,000 $335,000
LOUISVILLE/JEFFERSON COUNTY, KY-IN 1 $295,000 $295,000
LAKELAND-WINTER HAVEN, FL 1 $295,000 $295,000
LAKE CHARLES, LA 1 $265,000 $265,000
GOLDSBORO, NC 1 $255,000 $255,000
OCALA, FL 1 $245,000 $245,000
CHARLESTON-NORTH CHARLESTON, SC 1 $235,000 $235,000
JACKSONVILLE, FL 1 $235,000 $235,000
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 1 $225,000 $225,000
LUBBOCK, TX 1 $215,000 $215,000
WILMINGTON, NC 1 $215,000 $215,000
ABILENE, TX 1 $205,000 $205,000
ORLANDO-KISSIMMEE-SANFORD, FL 1 $195,000 $195,000
VALDOSTA, GA 1 $175,000 $175,000
EVANSVILLE, IN-KY 1 $155,000 $155,000
BEAUMONT-PORT ARTHUR, TX 1 $125,000 $125,000
COLUMBUS, GA-AL 1 $115,000 $115,000
HOUMA-THIBODAUX, LA 1 $105,000 $105,000
LONGVIEW, TX 1 $105,000 $105,000
ANNISTON-OXFORD, AL 1 $65,000 $65,000

Lendors vary in competitiveness at the per market level-- meaning they may have better terms, deals or promotions based on the mortgaged property's location.

Interest Rate & Spreads

Loan Rate Originations Total Value Average Loan
<2.5% 2,151 $149,475,000 $69,491
2.5-3% 121 $26,755,000 $221,116
3-4% 4,915 $1,124,885,000 $228,868
4-5% 2,854 $555,140,000 $194,513
5-6% 584 $84,650,000 $144,949
6-7% 197 $19,585,000 $99,416
7-8% 12 $540,000 $45,000
Over 8% 13 $485,000 $37,308

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 3,146 $155,480,000 $49,421
$100k-200k 3,920 $585,910,000 $149,467
$200k-400k 3,164 $850,260,000 $268,729
$400k-600k 456 $212,890,000 $466,864
$600k-1000k 112 $82,710,000 $738,482
$Over $1MM 49 $74,265,000 $1,515,612

Different banks have different objectives. Some banks focus solely on high net worth individuals. Others focus on FHA loans for lower income applicants. Knowing what a bank specializes in allows better optimization given the applicant's financial situation.

LTV Distribution

Loan to Value Originations Total Value Average Loan
20-40% 948 $84,890,000 $89,546
40-60% 847 $140,085,000 $165,390
60-80% 2,250 $530,650,000 $235,844
80-100% 5,336 $1,094,460,000 $205,109
Over 100% 285 $68,505,000 $240,368
Under 20% 1,165 $41,795,000 $35,876

LTV, or loan-to-value, is the amount loaned relative to a home's value. Lower LTV lending implies a larger downpayment-- reducing risk to the lendor. FHA loans will nearly always have a higher LTV due to the lower downpayment requirements. Higher LTVs may also mean a bank is charging higher fees or interest rates to compensate for their risk exposure.

Applicant Income

Applicant Income Originations Total Value Average Loan
$100k-150k 1,901 $399,675,000 $210,245
$150k-250k 1,062 $273,010,000 $257,072
$50k-75k 2,551 $376,435,000 $147,564
$50k-or less 2,452 $257,080,000 $104,845
$75k-100k 1,639 $294,585,000 $179,735
$Over $250k 607 $232,045,000 $382,282

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 8,424 $1,570,150,000 $186,390
Black 1,501 $192,535,000 $128,271
Not provided 355 $80,915,000 $227,930
Not applicable 339 $70,945,000 $209,277
Asian 165 $36,565,000 $221,606
American Indian 31 $3,825,000 $123,387
Asian Indian 13 $2,935,000 $225,769
Native Hawaiian 9 $1,545,000 $171,667
Vietnamese 2 $1,010,000 $505,000
Other Asian 2 $470,000 $235,000
Japanese 2 $290,000 $145,000
Korean 1 $235,000 $235,000
Filipino 1 $35,000 $35,000
Chinese 1 $35,000 $35,000
Other Pacific Islander 1 $25,000 $25,000

Approval Rates

Total approvals of all applications
87.84%

A high approval rate means banks are more selective in who they market to or that they are loosey-goosey with who they lend to. Low approval rates may mean a lendor is more stringent in their lending standards.

Pick Rate

Approvals leading to origination
86.58%

A bank's pick rate is how often they are chosen by an applicant once approved. A high pick rate typically means the bank has some sort of advantage-- either the best terms (rates/fees), fastest closing time or even the best customer service. Banks with <75% pick rate may need further investigation as to why they are not more competitive.

Points and Fees

Points Originations Total Value Average Loan
0.0 1 $5,000 $5,000
NA 10,846 $1,961,510,000 $180,851

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 6,060 $1,176,380,000 $194,122
$1k-2k 1,607 $336,685,000 $209,512
$2k-3k 410 $98,490,000 $240,220
$3k-4k 254 $78,860,000 $310,472
$5k+ 73 $39,035,000 $534,726

Banks make money on their float/interest spread (fees charged to borrowers vs fees they pay for their capital), for servicing loans, as well as charging origination fees when a loan is disbursed. Modern low-cost efficient lendors can have fees totaling less than $500 for many mortgages-- as low as $250 in some cases. Average lendors will be in the $1k-2k range and high cost lendors will be even more. The costs incurred by the bank will be similar no matter the loan amount, so this is to be viewed as a profit center for most banks.

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
Multifamily:Manufactured 3 $455,000 $151,667
Multifamily:Site-Built 48 $31,780,000 $662,083
Single Family (1-4 Units):Manufactured 31 $945,000 $30,484
Single Family (1-4 Units):Site-Built 10,765 $1,928,335,000 $179,130