Pioneer Bank & Trust Mortgage Rates, Fees & Info
Belle Fourche, SD
LEI: 254900CYWJYH3ES8BV63
Tax ID: 46-0108155
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Mortgage Data
Bank 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
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.
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 |
