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 Refi and Home Purchase loans. Pioneer Bank & Trust has a high proportion of conventional loans. They have a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Rapid City, Spearfish, Gillette, Phoenix, and Tucson among others. We have data for 10 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

376

Origination Dollar Volume (All Markets)

$84,640,000

Employee count

105

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
RAPID CITY, SD (FHA\|USDA\|VA)	175	$35,405,000	$202,314	$0	0.00%
Spearfish, SD (FHA\|USDA\|VA)	117	$33,575,000	$286,966	$0	0.00%
Outside of Metro Areas	67	$11,675,000	$174,254	$0	0.00%
Gillette, WY (FHA\|USDA\|VA)	9	$1,915,000	$212,778	$0	0.00%
PHOENIX-MESA-CHANDLER, AZ (FHA\|USDA\|VA)	2	$520,000	$260,000	$0	0.00%
TUCSON, AZ (FHA\|USDA\|VA)	1	$485,000	$485,000	$0	0.00%
DENVER-AURORA-LAKEWOOD, CO (FHA\|USDA\|VA)	1	$355,000	$355,000	$0	0.00%
SIOUX FALLS, SD (FHA\|USDA\|VA)	2	$290,000	$145,000	$0	0.00%
ROCHESTER, MN (FHA\|USDA\|VA)	1	$255,000	$255,000	$0	0.00%
COLORADO SPRINGS, CO (FHA\|USDA\|VA)	1	$165,000	$165,000	$0	0.00%

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

Their top states include:

South Dakota (FHA|USDA|VA)

Wyoming (FHA|USDA|VA)

Arizona (FHA|USDA|VA)

North Dakota (FHA|USDA|VA)

Colorado (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	355	$80,095,000	$225,620	$0	0.00%
VA	15	$3,545,000	$236,333	$0	0.00%
USDA	4	$690,000	$172,500	$0	0.00%
FHA	2	$310,000	$155,000	$0	0.00%

For 2020, Pioneer Bank & Trust's most frequently originated type of loan was Conventional, with 355 originations. Their 2nd most popular type was VA, with 15 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Refi	164	$37,390,000	$227,988	$0	0.00%
Home Purchase	128	$29,840,000	$233,125	$0	0.00%
Cash Out Refi	76	$16,490,000	$216,974	$0	0.00%
Other	5	$795,000	$159,000	$0	0.00%
Home Improvement	3	$125,000	$41,667	$0	0.00%

For 2020, Pioneer Bank & Trust's most frequently cited loan purpose was Refi, with 164 originations. The 2nd most popular reason was Home Purchase, with 128 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	376	$84,640,000	$225,106	$0	0.00%

For 2020, Pioneer Bank & Trust's most frequently cited loan duration was Other, with 376 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	162	$44,660,000	$275,679	$0	0.00%
$100k-200k	146	$21,740,000	$148,904	$0	0.00%
$100,000 or less	39	$2,555,000	$65,513	$0	0.00%
$400k-600k	27	$12,675,000	$469,444	$0	0.00%
$1MM+	1	$2,405,000	$2,405,000	$0	0.00%
$600k-1MM	1	$605,000	$605,000	$0	0.00%

2020 saw Pioneer Bank & Trust place emphasis on $200k-400k loans with 162 originations, totaling $44,660,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	83	$18,935,000	$228,133	$0	0.00%
$50k-75k	76	$12,760,000	$167,895	$0	0.00%
$75k-100k	67	$15,695,000	$234,254	$0	0.00%
$50k or less	52	$6,910,000	$132,885	$0	0.00%
$150k-250k	34	$10,600,000	$311,765	$0	0.00%
$250k+	18	$6,680,000	$371,111	$0	0.00%

Pioneer Bank & Trust lent most frequently to those with incomes in the $100k-150k range, with 83 originations. The second most popular income band? $50k-75k, with 76 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	376	$84,640,000	$225,106	$0	0.00%

Pioneer Bank & Trust lent most frequently to those with DTI ratios of Exempt%, with 376 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	330	$72,100,000	$218,485	$0	0.00%
Not applicable	11	$4,965,000	$451,364	$0	0.00%
Not provided	22	$4,840,000	$220,000	$0	0.00%
American Indian	8	$1,730,000	$216,250	$0	0.00%
Filipino	2	$580,000	$290,000	$0	0.00%
Asian	2	$310,000	$155,000	$0	0.00%
Black	1	$115,000	$115,000	$0	0.00%

Approval Rates

Total approvals of all applications
89.31%

Pioneer Bank & Trust has an average approval rate.

Pick Rate

Approvals leading to origination
82.45%

Pioneer Bank & Trust has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	376	$84,640,000	$225,106

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Manufactured	2	$2,430,000	$1,215,000
Multifamily:Site-Built	6	$2,500,000	$416,667
Single Family (1-4 Units):Manufactured	15	$2,345,000	$156,333
Single Family (1-4 Units):Site-Built	353	$77,365,000	$219,164

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Pioneer Bank & Trust	102 Main Street Buffalo, SD 57720	Full Service B&M	$51,268
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	$143,063
Pioneer Bank & Trust	2001 West Omaha Street Rapid City, SD 57702	Full Service B&M	$224,624
Pioneer Bank & Trust	2018 Mount Rushmore Road Rapid City, SD 57709	Full Service B&M	$79,181
Pioneer Bank & Trust	2611 Lazelle Street Sturgis, SD 57785	Full Service B&M	$33,797
Pioneer Bank & Trust	700 State Street Belle Fourche, SD 57717	Full Service B&M	$129,060

For 2020, Pioneer Bank & Trust had 7 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$25,782
Net interest income	$23,358
Total noninterest income	$6,882
Gross Fiduciary activities income	$1,359
Service charges on deposit accounts	$750
Trading account gains and fees	$0
Additional Noninterest Income	$4,773
Pre-tax net operating income	$13,992
Securities gains (or losses, -)	$1,015
Income before extraordinary items	$11,661
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$11,661
Minority interest net income	$0
Net income	$11,661
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$10,859

Pioneer Bank & Trust's gross interest income from loans was $25,782,000.
Pioneer Bank & Trust's net interest income from loans was $23,358,000.
Pioneer Bank & Trust's fee based income from loans was $750,000.
Pioneer Bank & Trust's net income from loans was $11,661,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$2,424
Provision for credit losses	$773
Total noninterest expense	$15,475
Salaries and employee benefits	$10,094
Premises and equipment expense	$1,302
Additional noninterest expense	$4,079
Applicable income taxes	$3,346
Net charge-offs	$118
Cash dividends	$7,038

Pioneer Bank & Trust's interest expense for loans was $2,424,000.
Pioneer Bank & Trust's payroll and benefits expense were $10,094,000.
Pioneer Bank & Trust's property, plant and equipment expenses $1,302,000.

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	$764,414
Deposits held in domestic offices	$764,414
Deposits by Individuals, partnerships, and corporations	$636,595
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$127,663
Deposits by Commercial banks and other depository institutions in U.S.	$156
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$65,200
Demand deposits	$53,834
Nontransaction accounts	$699,214
Money market deposit accounts (MMDAs)	$560,668
Other savings deposits (excluding MMDAs)	$50,040
Total time deposits	$88,506
Total time and savings deposits	$710,580
Noninterest-bearing deposits	$167,677
Interest-bearing deposits	$596,737
Retail deposits	$735,079
IRAs and Keogh plan accounts	$10,650
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$855,819
Cash & Balances due from depository institutions	$185,826
Interest-bearing balances	$180,708
Total securities	$296,570
Federal funds sold & reverse repurchase	$0
Net loans and leases	$348,044
Loan and leases loss allowance	$4,094
Trading account assets	$0
Bank premises and fixed assets	$9,598
Other real estate owned	$0
Goodwill and other intangibles	$0
All other assets	$15,781

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$855,819
Total Liabilities	$771,286
Total deposits	$764,414
Interest-bearing deposits	$596,737
Deposits held in domestic offices	$764,414
% insured (estimated)	$66
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$6,872

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$348,044
Loan and leases loss allowance	$4,094
Total loans and leases (domestic)	$352,138
All real estate loans	$226,635
Real estate loans in domestic offices	$226,635
Construction and development loans	$26,369
Residential 1-4 family construction	$13,244
Other construction, all land development and other land	$13,125
Loans secured by nonfarm nonresidential properties	$109,175
Nonfarm nonresidential secured by owner-occupied properties	$77,452
Commercial real estate & other non-farm, non-residential	$31,723
Multifamily residential real estate	$6,536
1-4 family residential loans	$43,875
Farmland loans	$40,680
Loans held in foreign offices	$0
Farm loans	$25,687
Commercial and industrial loans	$77,993
To non-U.S. addressees	$0
Loans to individuals	$12,872
Credit card loans	$0
Related Plans	$328
Consumer Auto Loans	$2,956
Other loans to individuals	$9,588
All other loans & leases	$8,951
Loans to foreign governments and official institutions	$0
Other loans	$247
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 $348,044,000 of loans outstanding in 2020. $226,635,000 of loans were in real estate loans. $26,369,000 of loans were in development loans. $6,536,000 of loans were in multifamily mortgage loans. $43,875,000 of loans were in 1-4 family mortgage loans. $25,687,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,956,000 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	166	$37,566	$226,301
Nonfarm, nonresidential loans - <$100k	27	$989	$36,630
Nonfarm, nonresidential loans - $100-250k	68	$8,145	$119,779
Nonfarm, nonresidential loans - $250k-1MM	71	$28,432	$400,451
Commercial & Industrial, US addressed loans - <$1MM	1,001	$48,024	$47,976
Commercial & Industrial, US addressed loans - <$100k	770	$14,161	$18,391
Commercial & Industrial, US addressed loans - $100-250k	142	$12,417	$87,444
Commercial & Industrial, US addressed loans - $250k-1MM	89	$21,446	$240,966
Farmland loans - <$1MM	186	$18,499	$99,457
Farmland loans - <$100k	47	$1,804	$38,383
Farmland loans - $100-250k	86	$8,461	$98,384
Farmland loans - $250k-1MM	53	$8,234	$155,358
Agriculture operations loans - <$1MM	518	$19,508	$37,660
Agriculture operations loans - <$100k	376	$7,409	$19,705
Agriculture operations loans - $100-250k	111	$7,514	$67,694
Agriculture operations loans - $250k-1MM	31	$4,585	$147,903