Pioneer Bank & Trust Mortgage Rates, Fees & Info

Belle Fourche, SD

LEI: 254900CYWJYH3ES8BV63

Tax ID: 46-0108155

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Pioneer Bank & Trust is a smaller bank specializing in Home Purchase and Refi loans. Pioneer Bank & Trust 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 include Spearfish, Rapid City, Gillette, Portland, and Bozeman among others. Pioneer Bank & Trust has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors.


Originations

324

Origination Dollar Volume (All Markets)

$85,020,000

Employee count

118

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Spearfish, SD (FHA|USDA|VA) 111 $40,695,000 $366,622 $0 0.00%
RAPID CITY, SD (FHA|USDA|VA) 143 $31,045,000 $217,098 $0 0.00%
Outside of Metro Areas 57 $10,155,000 $178,158 $0 0.00%
Gillette, WY (FHA|USDA|VA) 6 $1,410,000 $235,000 $0 0.00%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 2 $490,000 $245,000 $0 0.00%
Bozeman, MT (FHA|USDA|VA) 1 $345,000 $345,000 $0 0.00%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $265,000 $265,000 $0 0.00%
Sheridan, WY (FHA|USDA|VA) 1 $245,000 $245,000 $0 0.00%
LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
Brookings, SD (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%

Pioneer Bank & Trust's top markets include Spearfish, Rapid City, Gillette, Portland, and Bozeman among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 305 $79,785,000 $261,590 $0 0.00%
VA 14 $4,170,000 $297,857 $0 0.00%
FHA 4 $880,000 $220,000 $0 0.00%
USDA 1 $185,000 $185,000 $0 0.00%

For the 2021 period, Pioneer Bank & Trust's most frequently originated loan type of loans were Conventional, with 305 originations. Their 2nd most popular type is VA, with 14 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 154 $49,370,000 $320,584 $0 0.00%
Refi 89 $18,295,000 $205,562 $0 0.00%
Cash Out Refi 63 $13,865,000 $220,079 $0 0.00%
Other 14 $3,100,000 $221,429 $0 0.00%
Home Improvement 4 $390,000 $97,500 $0 0.00%

For the 2021, Pioneer Bank & Trust's most frequently cited loan purpose of loans were Home Purchase, with 154 originations. The 2nd most popular reason of loans were Refi, with 89 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 324 $85,020,000 $262,407 $0 0.00%

For the 2021, Pioneer Bank & Trust's most frequently cited loan length of loans were Other, with 324 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 130 $35,780,000 $275,231 $0 0.00%
$100k-200k 94 $14,110,000 $150,106 $0 0.00%
$100,000 or less 53 $3,265,000 $61,604 $0 0.00%
$400k-600k 43 $20,435,000 $475,233 $0 0.00%
$1MM+ 3 $10,805,000 $3,601,667 $0 0.00%
$600k-1MM 1 $625,000 $625,000 $0 0.00%

2021 saw Pioneer Bank & Trust place emphasis on $200k-400k loans with 130 originations, totaling $35,780,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 72 $14,970,000 $207,917 $0 0.00%
$100k-150k 62 $15,980,000 $257,742 $0 0.00%
$50k or less 50 $6,650,000 $133,000 $0 0.00%
$75k-100k 49 $10,435,000 $212,959 $0 0.00%
$150k-250k 33 $11,235,000 $340,455 $0 0.00%
$250k+ 22 $8,120,000 $369,091 $0 0.00%

Pioneer Bank & Trust lent most frequently to those with incomes in the $50k-75k range, with 72 originations. The second most popular income band? $100k-150k, with 62 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 324 $85,020,000 $262,407 $0 0.00%

Pioneer Bank & Trust lent most frequently to those with DTI ratios of Exempt%, with 324 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 262 $59,990,000 $228,969 $0 0.00%
Not applicable 24 $14,720,000 $613,333 $0 0.00%
Not provided 27 $7,315,000 $270,926 $0 0.00%
American Indian 6 $1,670,000 $278,333 $0 0.00%
Asian 1 $445,000 $445,000 $0 0.00%
Black 2 $390,000 $195,000 $0 0.00%
Asian Indian 1 $265,000 $265,000 $0 0.00%
Vietnamese 1 $225,000 $225,000 $0 0.00%

Approval Rates

Total approvals of all applications
88.84%

Pioneer Bank & Trust has an average approval rate.

Pick Rate

Approvals leading to origination
82.69%

Pioneer Bank & Trust has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
Exempt 324 $85,020,000 $262,407

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
324 $85,020,000 $262,407

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
PMR Progressive, LLC Conventional home mortgage Trouble during payment process 1 100.0%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Pioneer Bank & Trust 102 Main Street Buffalo, SD 57720 Full Service B&M $56,750
Pioneer Bank & Trust 2611 Lazelle Street Sturgis, SD 57785 Full Service B&M $45,020
Pioneer Bank & Trust 700 State Street Belle Fourche, SD 57717 Full Service B&M $163,488
Pioneer Bank & Trust 125 E Colorado Blvd Ste 1a Spearfish, SD 57783 Limited, Administrative $0
Pioneer Bank & Trust 140 E Jackson Blvd Spearfish, SD 57783 Full Service B&M $173,205
Pioneer Bank & Trust 2001 West Omaha Street Rapid City, SD 57702 Full Service B&M $298,437
Pioneer Bank & Trust 2018 Mount Rushmore Road Rapid City, SD 57709 Full Service B&M $98,964

For 2021, Pioneer Bank & Trust had 7 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $23,734
Net interest income $22,396
Total noninterest income $7,123
Gross Fiduciary activities income $1,531
Service charges on deposit accounts $791
Trading account gains and fees $0
Additional Noninterest Income $4,801
Pre-tax net operating income $12,786
Securities gains (or losses, -) $866
Income before extraordinary items $10,567
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $10,567
Minority interest net income $0
Net income $10,567
Sale, conversion, retirement of capital stock, net $0
Net operating income $9,882

Pioneer Bank & Trust's gross interest income from loans was $23,734,000.
Pioneer Bank & Trust's net interest income from loans was $22,396,000.
Pioneer Bank & Trust's fee based income from loans was $791,000.
Pioneer Bank & Trust's net income from loans was $10,567,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $1,338
Provision for credit losses $49
Total noninterest expense $16,684
Salaries and employee benefits $11,026
Premises and equipment expense $1,364
Additional noninterest expense $4,294
Applicable income taxes $3,085
Net charge-offs $2
Cash dividends $6,482

Pioneer Bank & Trust's interest expense for loans was $1,338,000.
Pioneer Bank & Trust's payroll and benefits expense were $11,026,000.
Pioneer Bank & Trust's property, plant and equipment expenses $1,364,000.

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 0.0%
Other consumer loans 0.0%
Unsecured commercial real estate loans 0.0%

Deposits

Type Value (in 000's)
Total deposits $917,992
Deposits held in domestic offices $917,992
Deposits by Individuals, partnerships, and corporations $766,559
Deposits by U.S. Government $18
Deposits by States and political subdivisions in the U.S. $151,252
Deposits by Commercial banks and other depository institutions in U.S. $163
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $401,713
Demand deposits $203,168
Nontransaction accounts $516,279
Money market deposit accounts (MMDAs) $371,890
Other savings deposits (excluding MMDAs) $72,455
Total time deposits $71,934
Total time and savings deposits $714,824
Noninterest-bearing deposits $203,168
Interest-bearing deposits $714,824
Retail deposits $896,896
IRAs and Keogh plan accounts $10,959
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,007,803
Cash & Balances due from depository institutions $119,300
Interest-bearing balances $114,250
Total securities $533,969
Federal funds sold & reverse repurchase $0
Net loans and leases $324,635
Loan and leases loss allowance $4,140
Trading account assets $0
Bank premises and fixed assets $10,700
Other real estate owned $0
Goodwill and other intangibles $0
All other assets $19,199

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,007,803
Total Liabilities $925,308
Total deposits $917,992
Interest-bearing deposits $714,824
Deposits held in domestic offices $917,992
% insured (estimated) $62
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $7,316

Issued Loan Types

Type Value (in 000's)
Net loans and leases $324,635
Loan and leases loss allowance $4,140
Total loans and leases (domestic) $328,775
All real estate loans $220,471
Real estate loans in domestic offices $220,471
Construction and development loans $24,411
Residential 1-4 family construction $11,424
Other construction, all land development and other land $12,987
Loans secured by nonfarm nonresidential properties $114,662
Nonfarm nonresidential secured by owner-occupied properties $79,703
Commercial real estate & other non-farm, non-residential $34,959
Multifamily residential real estate $4,311
1-4 family residential loans $40,724
Farmland loans $36,363
Loans held in foreign offices $0
Farm loans $24,541
Commercial and industrial loans $61,586
To non-U.S. addressees $0
Loans to individuals $13,581
Credit card loans $0
Related Plans $818
Consumer Auto Loans $3,054
Other loans to individuals $9,709
All other loans & leases $8,596
Loans to foreign governments and official institutions $0
Other loans $315
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $0
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $0
Non 1-4 family restructured loans & leases $0
Total loans and leases (foreign) $0

Pioneer Bank & Trust had $324,635,000 of loans outstanding in 2021. $220,471,000 of loans were in real estate loans. $24,411,000 of loans were in development loans. $4,311,000 of loans were in multifamily mortgage loans. $40,724,000 of loans were in 1-4 family mortgage loans. $24,541,000 of loans were in farm loans. $0 of loans were in credit card loans. $3,054,000 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 158 $37,618 $238,089
Nonfarm, nonresidential loans - <$100k 26 $847 $32,577
Nonfarm, nonresidential loans - $100-250k 56 $6,167 $110,125
Nonfarm, nonresidential loans - $250k-1MM 76 $30,604 $402,684
Commercial & Industrial, US addressed loans - <$1MM 607 $39,053 $64,338
Commercial & Industrial, US addressed loans - <$100k 416 $8,017 $19,272
Commercial & Industrial, US addressed loans - $100-250k 111 $9,563 $86,153
Commercial & Industrial, US addressed loans - $250k-1MM 80 $21,473 $268,413
Farmland loans - <$1MM 173 $15,223 $87,994
Farmland loans - <$100k 49 $1,994 $40,694
Farmland loans - $100-250k 73 $6,739 $92,315
Farmland loans - $250k-1MM 51 $6,490 $127,255
Agriculture operations loans - <$1MM 526 $16,868 $32,068
Agriculture operations loans - <$100k 380 $6,875 $18,092
Agriculture operations loans - $100-250k 117 $6,139 $52,470
Agriculture operations loans - $250k-1MM 29 $3,854 $132,897