Pinnacle Bank Mortgage Rates, Fees & Info
ELBERTON, GALEI: 2549006MTEQ1VE0AAQ20
Tax ID: 58-0232548
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Mortgage Data
Bank Data
Review & Overview
Pinnacle Bank is a smaller bank specializing in Home Purchase and Refi loans. Pinnacle 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 by origination volume include: Atlanta, Albany, Athens, Gainesville, and Thomasville among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)Pinnacle Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
311Origination Dollar Volume (All Markets)
$54,695,000Employee count
235Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 118 | $16,320,000 | $138,305 | $0 | 0.00% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 46 | $12,690,000 | $275,870 | $0 | 0.00% |
| ALBANY, GA (FHA|USDA|VA) | 64 | $9,650,000 | $150,781 | $0 | 0.00% |
| ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) | 38 | $8,330,000 | $219,211 | $0 | 0.00% |
| GAINESVILLE, GA (FHA|USDA|VA) | 16 | $2,650,000 | $165,625 | $0 | 0.00% |
| Thomasville, GA (FHA|USDA|VA) | 9 | $2,195,000 | $243,889 | $0 | 0.00% |
| Jefferson, GA (FHA|USDA|VA) | 9 | $1,625,000 | $180,556 | $0 | 0.00% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 3 | $475,000 | $158,333 | $0 | 0.00% |
| Sevierville, TN (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| Toccoa, GA (FHA|USDA|VA) | 4 | $190,000 | $47,500 | $0 | 0.00% |
| Statesboro, GA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| Tifton, GA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| SAVANNAH, GA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
Product Mix
For 2018, Pinnacle Bank's most frequently originated type of loan was Conventional, with 221 originations. Their 2nd most popular type was FHA, with 45 originations.
Loan Reason
For 2018, Pinnacle Bank's most frequently cited loan purpose was Home Purchase, with 221 originations. The 2nd most popular reason was Refi, with 62 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 311 | $54,695,000 | $175,868 | $0 | 0.00% |
For 2018, Pinnacle Bank's most frequently cited loan duration was Other, with 311 originations.
Loan Sizing
2018 saw Pinnacle Bank place emphasis on $100k-200k loans with 136 originations, totaling $19,730,000 in origination value.
Applicant Income
Pinnacle Bank lent most frequently to those with incomes in the $50k-75k range, with 92 originations. The second most popular income band? $50k or less, with 72 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 311 | $54,695,000 | $175,868 | $0 | 0.00% |
Pinnacle Bank lent most frequently to those with DTI ratios of Exempt%, with 311 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications85.04%
Pinnacle Bank has an average approval rate.
Pick Rate
Approvals leading to origination60.77%
Pinnacle Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 311 | $54,695,000 | $175,868 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| PINNACLE FINANCIAL PARTNERS, INC. | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 33.3% |
| PINNACLE FINANCIAL PARTNERS, INC. | Conventional home mortgage | Struggling to pay mortgage | 1 | 33.3% |
| PINNACLE FINANCIAL PARTNERS, INC. | Other type of mortgage | Trouble during payment process | 1 | 33.3% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Pinnacle Bank | 1 North Broad Street Bowman, GA 30624 | Full Service B&M | $21,938 |
| Pinnacle Bank | 1081 Parkway Place Athens, GA 30606 | Full Service B&M | $9,177 |
| Pinnacle Bank | 112 North Cherokee Social Circle, GA 30025 | Full Service B&M | $37,503 |
| Pinnacle Bank | 114 Gilmer Street Lexington, GA 30648 | Full Service B&M | $31,388 |
| Pinnacle Bank | 12321 Augusta Road Lavonia, GA 30553 | Full Service B&M | $34,687 |
| Pinnacle Bank | 135 East Franklin Street Hartwell, GA 30643 | Full Service B&M | $100,432 |
| Pinnacle Bank | 1871 North Elm Street Commerce, GA 30529 | Full Service B&M | $26,496 |
| Pinnacle Bank | 23 College Avenue Elberton, GA 30635 | Full Service B&M | $52,245 |
| Pinnacle Bank | 2311 West Main Street Franklin Springs, GA 30639 | Full Service B&M | $22,261 |
| Pinnacle Bank | 238 South Broad Street Monroe, GA 30655 | Full Service B&M | $29,261 |
| Pinnacle Bank | 311 Green Street Nw, Suite 100 Gainesville, GA 30501 | Full Service B&M | $36,962 |
| Pinnacle Bank | 3140 Lexington Road Athens, GA 30605 | Full Service B&M | $25,079 |
| Pinnacle Bank | 6124 Highway 278 Ne Covington, GA 30014 | Full Service B&M | $87,350 |
| Pinnacle Bank | 6322 Grand Hickory Drive, Suite 300d Braselton, GA 30517 | Full Service B&M | $49,333 |
| Pinnacle Bank | 861 Church Street Royston, GA 30662 | Full Service B&M | $76,300 |
| Pinnacle Bank | 884 Elbert Street Elberton, GA 30635 | Full Service B&M | $130,896 |
For 2018, Pinnacle Bank had 16 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $38,151 |
| Net interest income | $36,964 |
| Total noninterest income | $11,111 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $8,884 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $2,227 |
| Pre-tax net operating income | $14,610 |
| Securities gains (or losses, -) | $-1,382 |
| Income before extraordinary items | $13,228 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $13,228 |
| Minority interest net income | $0 |
| Net income | $13,228 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $14,610 |
Pinnacle Bank's gross interest income from loans was $38,151,000.
Pinnacle Bank's net interest income from loans was $36,964,000.
Pinnacle Bank's fee based income from loans was $8,884,000.
Pinnacle Bank's net income from loans was $13,228,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $1,187 |
| Provision for credit losses | $1,200 |
| Total noninterest expense | $32,265 |
| Salaries and employee benefits | $17,413 |
| Premises and equipment expense | $3,907 |
| Additional noninterest expense | $10,945 |
| Applicable income taxes | $0 |
| Net charge-offs | $971 |
| Cash dividends | $10,300 |
Pinnacle Bank's interest expense for loans was $1,187,000.
Pinnacle Bank's payroll and benefits expense were $17,413,000.
Pinnacle Bank's property, plant and equipment expenses $3,907,000.
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 | 1.0% |
| Other consumer loans | 0.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $835,211 |
| Deposits held in domestic offices | $835,211 |
| Deposits by Individuals, partnerships, and corporations | $742,059 |
| Deposits by U.S. Government | $62 |
| Deposits by States and political subdivisions in the U.S. | $92,466 |
| Deposits by Commercial banks and other depository institutions in U.S. | $624 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $96,368 |
| Demand deposits | $53,891 |
| Nontransaction accounts | $738,843 |
| Money market deposit accounts (MMDAs) | $167,667 |
| Other savings deposits (excluding MMDAs) | $440,287 |
| Total time deposits | $130,889 |
| Total time and savings deposits | $781,320 |
| Noninterest-bearing deposits | $246,855 |
| Interest-bearing deposits | $588,356 |
| Retail deposits | $815,734 |
| IRAs and Keogh plan accounts | $27,275 |
| Brokered deposits | $2,848 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $947,125 |
| Cash & Balances due from depository institutions | $95,336 |
| Interest-bearing balances | $75,455 |
| Total securities | $108,063 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $678,895 |
| Loan and leases loss allowance | $6,178 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $23,073 |
| Other real estate owned | $1,633 |
| Goodwill and other intangibles | $19,593 |
| All other assets | $20,532 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $947,125 |
| Total Liabilities | $840,710 |
| Total deposits | $835,211 |
| Interest-bearing deposits | $588,356 |
| Deposits held in domestic offices | $835,211 |
| % insured (estimated) | $71 |
| Federal funds purchased and repurchase agreements | $1,264 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $0 |
| All other liabilities | $4,235 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $678,895 |
| Loan and leases loss allowance | $6,178 |
| Total loans and leases (domestic) | $685,073 |
| All real estate loans | $555,999 |
| Real estate loans in domestic offices | $555,999 |
| Construction and development loans | $58,197 |
| Residential 1-4 family construction | $9,514 |
| Other construction, all land development and other land | $48,683 |
| Loans secured by nonfarm nonresidential properties | $274,553 |
| Nonfarm nonresidential secured by owner-occupied properties | $140,871 |
| Commercial real estate & other non-farm, non-residential | $133,682 |
| Multifamily residential real estate | $10,571 |
| 1-4 family residential loans | $79,961 |
| Farmland loans | $132,717 |
| Loans held in foreign offices | $0 |
| Farm loans | $3,545 |
| Commercial and industrial loans | $80,932 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $21,384 |
| Credit card loans | $0 |
| Related Plans | $8,449 |
| Consumer Auto Loans | $1,560 |
| Other loans to individuals | $11,375 |
| All other loans & leases | $23,212 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $0 |
| Loans to depository institutions and acceptances of other banks | $1,000 |
| Loans not secured by real estate | $0 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $2,784 |
| Non 1-4 family restructured loans & leases | $2,698 |
| Total loans and leases (foreign) | $0 |
Pinnacle Bank had $678,895,000 of loans outstanding in 2018. $555,999,000 of loans were in real estate loans. $58,197,000 of loans were in development loans. $10,571,000 of loans were in multifamily mortgage loans. $79,961,000 of loans were in 1-4 family mortgage loans. $3,545,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,560,000 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 | 406 | $96,458 | $237,581 |
| Nonfarm, nonresidential loans - <$100k | 87 | $3,652 | $41,977 |
| Nonfarm, nonresidential loans - $100-250k | 118 | $14,625 | $123,941 |
| Nonfarm, nonresidential loans - $250k-1MM | 201 | $78,181 | $388,960 |
| Commercial & Industrial, US addressed loans - <$1MM | 592 | $47,991 | $81,066 |
| Commercial & Industrial, US addressed loans - <$100k | 406 | $9,942 | $24,488 |
| Commercial & Industrial, US addressed loans - $100-250k | 109 | $13,123 | $120,394 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 77 | $24,926 | $323,714 |
| Farmland loans - <$1MM | 175 | $26,338 | $150,503 |
| Farmland loans - <$100k | 54 | $2,956 | $54,741 |
| Farmland loans - $100-250k | 56 | $6,952 | $124,143 |
| Farmland loans - $250k-1MM | 65 | $16,430 | $252,769 |
| Agriculture operations loans - <$1MM | 54 | $1,637 | $30,315 |
| Agriculture operations loans - <$100k | 50 | $1,240 | $24,800 |
| Agriculture operations loans - $100-250k | 4 | $397 | $99,250 |