Pioneer Bank & Trust Mortgage Rates, Fees & Info

Belle Fourche, SD

LEI: 254900CYWJYH3ES8BV63

Tax ID: 46-0108155

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & Overview

Pioneer Bank & Trust is a smaller bank specializing in Home Purchase 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 by origination volume include: Spearfish, Rapid City, Gillette, Casper, and Denver among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

Pioneer Bank & Trust 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

213

Origination Dollar Volume (All Markets)

$44,495,000

Employee count

108

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
Spearfish, SD (FHA\|USDA\|VA)	81	$21,085,000	$260,309	$0	0.00%
RAPID CITY, SD (FHA\|USDA\|VA)	93	$16,715,000	$179,731	$0	0.00%
Outside of Metro Areas	29	$4,815,000	$166,034	$0	0.00%
Gillette, WY (FHA\|USDA\|VA)	5	$995,000	$199,000	$0	0.00%
CASPER, WY (FHA\|USDA\|VA)	1	$275,000	$275,000	$0	0.00%
DENVER-AURORA-LAKEWOOD, CO (FHA\|USDA\|VA)	1	$235,000	$235,000	$0	0.00%
CHEYENNE, WY (FHA\|USDA\|VA)	1	$215,000	$215,000	$0	0.00%
MADISON, WI (FHA\|USDA\|VA)	1	$95,000	$95,000	$0	0.00%
Aberdeen, SD (FHA\|USDA\|VA)	1	$65,000	$65,000	$0	0.00%

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

Their top states include:

South Dakota (FHA|USDA|VA)

Wyoming (FHA|USDA|VA)

North Dakota (FHA|USDA|VA)

Colorado (FHA|USDA|VA)

Wisconsin (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	191	$39,355,000	$206,047	$0	0.00%
VA	13	$3,365,000	$258,846	$0	0.00%
FHA	5	$935,000	$187,000	$0	0.00%
USDA	4	$840,000	$210,000	$0	0.00%

For 2019, Pioneer Bank & Trust's most frequently originated type of loan was Conventional, with 191 originations. Their 2nd most popular type was VA, with 13 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	127	$28,735,000	$226,260	$0	0.00%
Refi	39	$5,855,000	$150,128	$0	0.00%
Cash Out Refi	33	$8,395,000	$254,394	$0	0.00%
Other	8	$1,020,000	$127,500	$0	0.00%
Home Improvement	6	$490,000	$81,667	$0	0.00%

For 2019, Pioneer Bank & Trust's most frequently cited loan purpose was Home Purchase, with 127 originations. The 2nd most popular reason was Refi, with 39 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	213	$44,495,000	$208,897	$0	0.00%

For 2019, Pioneer Bank & Trust's most frequently cited loan duration was Other, with 213 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	81	$22,055,000	$272,284	$0	0.00%
$100k-200k	73	$10,865,000	$148,836	$0	0.00%
$100,000 or less	40	$2,000,000	$50,000	$0	0.00%
$400k-600k	16	$7,260,000	$453,750	$0	0.00%
$600k-1MM	2	$1,250,000	$625,000	$0	0.00%
$1MM+	1	$1,065,000	$1,065,000	$0	0.00%

2019 saw Pioneer Bank & Trust place emphasis on $200k-400k loans with 81 originations, totaling $22,055,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$75k-100k	43	$9,045,000	$210,349	$0	0.00%
$50k-75k	42	$6,860,000	$163,333	$0	0.00%
$100k-150k	40	$10,010,000	$250,250	$0	0.00%
$50k or less	27	$2,745,000	$101,667	$0	0.00%
$150k-250k	21	$5,925,000	$282,143	$0	0.00%
$250k+	9	$2,695,000	$299,444	$0	0.00%

Pioneer Bank & Trust lent most frequently to those with incomes in the $75k-100k range, with 43 originations. The second most popular income band? $50k-75k, with 42 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	213	$44,495,000	$208,897	$0	0.00%

Pioneer Bank & Trust lent most frequently to those with DTI ratios of Exempt%, with 213 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	183	$38,255,000	$209,044	$0	0.00%
Not applicable	16	$3,450,000	$215,625	$0	0.00%
American Indian	7	$1,415,000	$202,143	$0	0.00%
Not provided	7	$1,375,000	$196,429	$0	0.00%

Approval Rates

Total approvals of all applications
87.54%

Pioneer Bank & Trust has an average approval rate.

Pick Rate

Approvals leading to origination
82.63%

Pioneer Bank & Trust has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	213	$44,495,000	$208,897

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	4	$1,250,000	$312,500
Single Family (1-4 Units):Manufactured	26	$2,060,000	$79,231
Single Family (1-4 Units):Site-Built	183	$41,185,000	$225,055

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Pioneer Bank & Trust	102 Main Street Buffalo, SD 57720	Full Service B&M	$46,236
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	$114,409
Pioneer Bank & Trust	2001 West Omaha Street Rapid City, SD 57702	Full Service B&M	$206,748
Pioneer Bank & Trust	2018 Mount Rushmore Road Rapid City, SD 57709	Full Service B&M	$66,655
Pioneer Bank & Trust	2611 Lazelle Street Sturgis, SD 57785	Full Service B&M	$27,199
Pioneer Bank & Trust	700 State Street Belle Fourche, SD 57717	Full Service B&M	$120,120

For 2019, Pioneer Bank & Trust had 7 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$26,172
Net interest income	$22,211
Total noninterest income	$5,722
Gross Fiduciary activities income	$1,391
Service charges on deposit accounts	$884
Trading account gains and fees	$0
Additional Noninterest Income	$3,447
Pre-tax net operating income	$13,383
Securities gains (or losses, -)	$21
Income before extraordinary items	$10,798
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$10,798
Minority interest net income	$0
Net income	$10,798
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$10,780

Pioneer Bank & Trust's gross interest income from loans was $26,172,000.
Pioneer Bank & Trust's net interest income from loans was $22,211,000.
Pioneer Bank & Trust's fee based income from loans was $884,000.
Pioneer Bank & Trust's net income from loans was $10,798,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$3,961
Provision for credit losses	$404
Total noninterest expense	$14,146
Salaries and employee benefits	$9,232
Premises and equipment expense	$1,170
Additional noninterest expense	$3,744
Applicable income taxes	$2,606
Net charge-offs	$330
Cash dividends	$5,935

Pioneer Bank & Trust's interest expense for loans was $3,961,000.
Pioneer Bank & Trust's payroll and benefits expense were $9,232,000.
Pioneer Bank & Trust's property, plant and equipment expenses $1,170,000.

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	$610,364
Deposits held in domestic offices	$610,364
Deposits by Individuals, partnerships, and corporations	$507,177
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$103,161
Deposits by Commercial banks and other depository institutions in U.S.	$26
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$48,909
Demand deposits	$40,228
Nontransaction accounts	$561,455
Money market deposit accounts (MMDAs)	$445,529
Other savings deposits (excluding MMDAs)	$35,586
Total time deposits	$80,340
Total time and savings deposits	$570,136
Noninterest-bearing deposits	$123,697
Interest-bearing deposits	$486,667
Retail deposits	$589,891
IRAs and Keogh plan accounts	$11,003
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$694,717
Cash & Balances due from depository institutions	$76,157
Interest-bearing balances	$70,592
Total securities	$242,456
Federal funds sold & reverse repurchase	$0
Net loans and leases	$349,893
Loan and leases loss allowance	$3,438
Trading account assets	$0
Bank premises and fixed assets	$9,498
Other real estate owned	$0
Goodwill and other intangibles	$0
All other assets	$16,713

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$694,717
Total Liabilities	$616,525
Total deposits	$610,364
Interest-bearing deposits	$486,667
Deposits held in domestic offices	$610,364
% insured (estimated)	$67
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$6,161

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$349,893
Loan and leases loss allowance	$3,438
Total loans and leases (domestic)	$353,331
All real estate loans	$230,173
Real estate loans in domestic offices	$230,173
Construction and development loans	$22,556
Residential 1-4 family construction	$11,137
Other construction, all land development and other land	$11,419
Loans secured by nonfarm nonresidential properties	$115,740
Nonfarm nonresidential secured by owner-occupied properties	$86,991
Commercial real estate & other non-farm, non-residential	$28,749
Multifamily residential real estate	$3,546
1-4 family residential loans	$45,716
Farmland loans	$42,615
Loans held in foreign offices	$0
Farm loans	$35,185
Commercial and industrial loans	$67,215
To non-U.S. addressees	$0
Loans to individuals	$11,227
Credit card loans	$0
Related Plans	$643
Consumer Auto Loans	$2,594
Other loans to individuals	$7,990
All other loans & leases	$9,531
Loans to foreign governments and official institutions	$0
Other loans	$328
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 $349,893,000 of loans outstanding in 2019. $230,173,000 of loans were in real estate loans. $22,556,000 of loans were in development loans. $3,546,000 of loans were in multifamily mortgage loans. $45,716,000 of loans were in 1-4 family mortgage loans. $35,185,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,594,000 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	187	$42,234	$225,850
Nonfarm, nonresidential loans - <$100k	35	$1,197	$34,200
Nonfarm, nonresidential loans - $100-250k	74	$9,213	$124,500
Nonfarm, nonresidential loans - $250k-1MM	78	$31,824	$408,000
Commercial & Industrial, US addressed loans - <$1MM	779	$44,035	$56,528
Commercial & Industrial, US addressed loans - <$100k	573	$10,912	$19,044
Commercial & Industrial, US addressed loans - $100-250k	122	$11,330	$92,869
Commercial & Industrial, US addressed loans - $250k-1MM	84	$21,793	$259,440
Farmland loans - <$1MM	195	$19,281	$98,877
Farmland loans - <$100k	54	$2,044	$37,852
Farmland loans - $100-250k	86	$9,247	$107,523
Farmland loans - $250k-1MM	55	$7,990	$145,273
Agriculture operations loans - <$1MM	631	$26,236	$41,578
Agriculture operations loans - <$100k	468	$9,746	$20,825
Agriculture operations loans - $100-250k	121	$9,151	$75,628
Agriculture operations loans - $250k-1MM	42	$7,339	$174,738