Pinnacle Bank Mortgage Rates, Fees & Info

ELBERTON, GA

LEI: 2549006MTEQ1VE0AAQ20

Tax ID: 58-0232548

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Mortgage 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 a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Atlanta, Athens, Augusta, Gainesville, and Cornelia among others. We have data for 21 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

415

Origination Dollar Volume (All Markets)

$144,715,000

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
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 89 $37,475,000 $421,067 $0 0.00%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 47 $30,435,000 $647,553 $0 0.00%
Outside of Metro Areas 145 $29,975,000 $206,724 $0 0.00%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 35 $11,795,000 $337,000 $0 0.00%
GAINESVILLE, GA (FHA|USDA|VA) 20 $9,060,000 $453,000 $0 0.00%
Cornelia, GA (FHA|USDA|VA) 32 $7,330,000 $229,063 $0 0.00%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $6,505,000 $6,505,000 $0 0.00%
Jefferson, GA (FHA|USDA|VA) 18 $5,320,000 $295,556 $0 0.00%
Toccoa, GA (FHA|USDA|VA) 14 $2,070,000 $147,857 $0 0.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $875,000 $875,000 $0 0.00%
MACON-BIBB COUNTY, GA (FHA|USDA|VA) 2 $540,000 $270,000 $0 0.00%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $525,000 $525,000 $0 0.00%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $515,000 $515,000 $0 0.00%
DALTON, GA (FHA|USDA|VA) 2 $480,000 $240,000 $0 0.00%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $425,000 $425,000 $0 0.00%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $425,000 $425,000 $0 0.00%
PANAMA CITY, FL (FHA|USDA|VA) 1 $315,000 $315,000 $0 0.00%
TUSCALOOSA, AL (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
LYNCHBURG, VA (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
Milledgeville, GA (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $95,000 $95,000 $0 0.00%
Pinnacle Bank's top markets include Atlanta, Athens, Augusta, Gainesville, and Cornelia among others.

Their top states include:
  • Georgia (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 390 $139,860,000 $358,615 $0 0.00%
    FHA 12 $2,210,000 $184,167 $0 0.00%
    USDA 7 $1,235,000 $176,429 $0 0.00%
    VA 6 $1,410,000 $235,000 $0 0.00%

    For 2022, Pinnacle Bank's most frequently originated type of loan was Conventional, with 390 originations. Their 2nd most popular type was FHA, with 12 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 238 $94,580,000 $397,395 $0 0.00%
    Refi 122 $40,220,000 $329,672 $0 0.00%
    Cash Out Refi 31 $6,195,000 $199,839 $0 0.00%
    Other 20 $3,020,000 $151,000 $0 0.00%
    Home Improvement 4 $700,000 $175,000 $0 0.00%

    For 2022, Pinnacle Bank's most frequently cited loan purpose was Home Purchase, with 238 originations. The 2nd most popular reason was Refi, with 122 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 415 $144,715,000 $348,711 $0 0.00%

    For 2022, Pinnacle Bank's most frequently cited loan duration was Other, with 415 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 133 $36,505,000 $274,474 $0 0.00%
    $100k-200k 123 $18,345,000 $149,146 $0 0.00%
    $100,000 or less 94 $5,640,000 $60,000 $0 0.00%
    $400k-600k 27 $12,685,000 $469,815 $0 0.00%
    $600k-1MM 22 $16,710,000 $759,545 $0 0.00%
    $1MM+ 16 $54,830,000 $3,426,875 $0 0.00%

    2022 saw Pinnacle Bank place emphasis on $200k-400k loans with 133 originations, totaling $36,505,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 67 $14,345,000 $214,104 $0 0.00%
    $50k-75k 56 $9,450,000 $168,750 $0 0.00%
    $50k or less 55 $6,215,000 $113,000 $0 0.00%
    $75k-100k 47 $8,445,000 $179,681 $0 0.00%
    $150k-250k 35 $9,985,000 $285,286 $0 0.00%
    $250k+ 28 $12,710,000 $453,929 $0 0.00%

    Pinnacle Bank lent most frequently to those with incomes in the $100k-150k range, with 67 originations. The second most popular income band? $50k-75k, with 56 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 415 $144,715,000 $348,711 $0 0.00%

    Pinnacle Bank lent most frequently to those with DTI ratios of Exempt%, with 415 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 121 $81,935,000 $677,149 $0 0.00%
    White 221 $50,985,000 $230,701 $0 0.00%
    Not provided 50 $8,200,000 $164,000 $0 0.00%
    Black 13 $1,805,000 $138,846 $0 0.00%
    Asian 7 $1,395,000 $199,286 $0 0.00%
    Asian Indian 2 $270,000 $135,000 $0 0.00%
    Native Hawaiian or Islander 1 $125,000 $125,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    82.75%

    Pinnacle Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    66.27%

    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 415 $144,715,000 $348,711

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    415 $144,715,000 $348,711