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 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 by origination volume include: Spearfish, Rapid City, Gillette, Portland, and Bozeman 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 above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

Originations

324

Origination Dollar Volume (All Markets)

$85,020,000

Employee count

118

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)	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, KY (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.

Their top states include:

South Dakota (FHA|USDA|VA)

Wyoming (FHA|USDA|VA)

Washington (FHA|USDA|VA)

Montana (FHA|USDA|VA)

Arizona (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. 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 2021, Pioneer Bank & Trust's most frequently originated type of loan was Conventional, with 305 originations. Their 2nd most popular type was VA, with 14 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. 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 2021, Pioneer Bank & Trust's most frequently cited loan purpose was Home Purchase, with 154 originations. The 2nd most popular reason was 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 2021, Pioneer Bank & Trust's most frequently cited loan duration was 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
90.21%

Pioneer Bank & Trust has an average approval rate.

Pick Rate

Approvals leading to origination
83.64%

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	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
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

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