Priorityone Bank Mortgage Rates, Fees & Info

Magee, MS

LEI: 549300CYL5ZW4ISL7T55

Tax ID: 64-0560130

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Mortgage Data

Bank Data

Review & Overview

Priorityone Bank is a smaller bank specializing in Home Purchase and Refi loans. Priorityone Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Jackson, Hattiesburg, Memphis, Greenville, and Oxford among others. We have data for 25 markets. (Some data included below & more in-depth data is available with an active subscription.)

Priorityone Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. They typically have about average rates.

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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.86% 3/28/24
30 Year Conventional Refi 7.16% 3/28/24
30 Year Cash-out Refi 6.69% 3/28/24
30 Year FHA Purchase 7.31% 3/28/24
30 Year FHA Refi 7.33% 3/28/24
30 Year VA Purchase 6.30% 3/28/24
30 Year USDA Purchase 6.70% 3/28/24
15 Year Conventional Purchase 6.39% 3/28/24
15 Year Conventional Refi 6.55% 3/28/24
15 Year Cash-out Refi 6.55% 3/28/24
15 Year FHA Refi 6.28% 3/28/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Priorityone Bank Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Priorityone Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

546

Origination Dollar Volume (All Markets)

$95,380,000

Employee count

202

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
JACKSON, MS (FHA|USDA|VA) 218 $41,440,000 $190,092 $0 5.00%
HATTIESBURG, MS (FHA|USDA|VA) 149 $23,365,000 $156,812 $0 5.14%
Outside of Metro Areas 48 $6,730,000 $140,208 $0 5.05%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 30 $5,810,000 $193,667 $0 3.93%
Greenville, MS (FHA|USDA|VA) 29 $4,195,000 $144,655 $0 4.18%
Oxford, MS (FHA|USDA|VA) 10 $2,690,000 $269,000 $0 4.09%
Laurel, MS (FHA|USDA|VA) 19 $2,405,000 $126,579 $0 5.22%
Cleveland, MS (FHA|USDA|VA) 9 $1,555,000 $172,778 $0 4.10%
Indianola, MS (FHA|USDA|VA) 6 $1,370,000 $228,333 $0 4.42%
Greenwood, MS (FHA|USDA|VA) 5 $965,000 $193,000 $0 3.85%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 2 $650,000 $325,000 $0 4.38%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 3 $595,000 $198,333 $0 4.71%
BATON ROUGE, LA (FHA|USDA|VA) 1 $485,000 $485,000 $0 3.99%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $455,000 $455,000 $0 5.13%
GULFPORT-BILOXI, MS (FHA|USDA|VA) 4 $450,000 $112,500 $0 4.59%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $315,000 $315,000 $0 4.25%
Clarksdale, MS (FHA|USDA|VA) 2 $310,000 $155,000 $0 3.56%
Washington, NC (FHA|USDA|VA) 1 $295,000 $295,000 $0 5.25%
Starkville, MS (FHA|USDA|VA) 1 $285,000 $285,000 $0 3.88%
Picayune, MS (FHA|USDA|VA) 2 $240,000 $120,000 $0 4.81%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $205,000 $205,000 $0 5.95%
KNOXVILLE, TN (FHA|USDA|VA) 1 $195,000 $195,000 $0 5.38%
SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 1 $165,000 $165,000 $0 4.63%
Alexander City, AL (FHA|USDA|VA) 1 $165,000 $165,000 $0 4.25%
Tupelo, MS (FHA|USDA|VA) 1 $45,000 $45,000 $0 6.75%
Priorityone Bank's top markets include Jackson, Hattiesburg, Memphis, Greenville, and Oxford among others.

Their top states include:
  • Mississippi (FHA|USDA|VA)
  • Louisiana (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 426 $75,140,000 $176,385 $0 5.18%
    FHA 66 $11,220,000 $170,000 $0 3.91%
    USDA 37 $5,505,000 $148,784 $0 3.86%
    VA 17 $3,515,000 $206,765 $0 3.66%

    For 2019, Priorityone Bank's most frequently originated type of loan was Conventional, with 426 originations. Their 2nd most popular type was FHA, with 66 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 346 $61,510,000 $177,775 $0 4.58%
    Refi 149 $27,035,000 $181,443 $0 5.43%
    Cash Out Refi 25 $5,555,000 $222,200 $0 4.39%
    Home Improvement 15 $785,000 $52,333 $0 6.40%
    Other 11 $495,000 $45,000 $0 6.16%

    For 2019, Priorityone Bank's most frequently cited loan purpose was Home Purchase, with 346 originations. The 2nd most popular reason was Refi, with 149 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 320 $64,510,000 $201,594 $0 4.28%
    15 Year 76 $13,850,000 $182,237 $0 5.00%
    20 Year 44 $5,470,000 $124,318 $0 5.72%
    Other 30 $3,550,000 $118,333 $0 6.65%
    10 Year 27 $3,355,000 $124,259 $0 5.65%
    5 Year 21 $1,545,000 $73,571 $0 6.51%
    1 Year 19 $1,995,000 $105,000 $0 6.16%
    3 Year 9 $1,105,000 $122,778 $0 6.76%

    For 2019, Priorityone Bank's most frequently cited loan duration was 30 Year, with 320 originations. The 2nd most popular length was 15 Year, with 76 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 298 $50,840,000 $170,604
    $1k-2k 62 $9,900,000 $159,677
    $2k-3k 39 $7,895,000 $202,436
    $3k-4k 16 $4,740,000 $296,250
    $4k-5k 5 $1,885,000 $377,000
    $5k+ 4 $1,550,000 $387,500

    Priorityone Bank's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 298 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 192 $38,070,000 $198,281
    4-5% 149 $34,325,000 $230,369
    6-7% 98 $9,910,000 $101,122
    5-6% 87 $11,625,000 $133,621
    Over 8% 10 $250,000 $25,000
    7-8% 6 $290,000 $48,333
    2.5-3% 3 $905,000 $301,667
    <2.5% 1 $5,000 $5,000

    During 2019, Priorityone Bank's average interest rate for loans was 4.28%, while their most frequently originated rate bucket for loans was 3-4%, with 192 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 210 $31,550,000 $150,238 $0 4.54%
    $100,000 or less 167 $9,525,000 $57,036 $0 5.86%
    $200k-400k 150 $40,850,000 $272,333 $0 4.34%
    $400k-600k 17 $7,735,000 $455,000 $0 4.46%
    $1MM+ 2 $5,720,000 $2,860,000 $0 4.43%

    2019 saw Priorityone Bank place emphasis on $100k-200k loans with 210 originations, totaling $31,550,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 111 $10,955,000 $98,694 $0 4.68%
    $50k-75k 107 $16,415,000 $153,411 $0 4.70%
    $100k-150k 99 $19,315,000 $195,101 $0 4.81%
    $75k-100k 78 $14,200,000 $182,051 $0 4.59%
    $150k-250k 58 $13,280,000 $228,966 $0 4.91%
    $250k+ 18 $5,670,000 $315,000 $0 4.28%

    Priorityone Bank lent most frequently to those with incomes in the $50k or less range, with 111 originations. The second most popular income band? $50k-75k, with 107 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 114 $18,020,000 $158,070 $0 4.86%
    30-36% 95 $15,645,000 $164,684 $0 4.73%
    <20% 59 $10,075,000 $170,763 $0 4.97%
    37% 22 $3,300,000 $150,000 $0 4.51%
    36% 21 $3,605,000 $171,667 $0 4.38%
    44% 19 $3,315,000 $174,474 $0 4.24%
    39% 19 $3,945,000 $207,632 $0 4.63%
    41% 17 $2,655,000 $156,176 $0 4.47%
    38% 16 $3,230,000 $201,875 $0 4.44%
    43% 14 $2,360,000 $168,571 $0 4.73%
    50-60% 13 $2,555,000 $196,538 $0 4.30%
    42% 11 $2,115,000 $192,273 $0 5.01%
    40% 11 $2,095,000 $190,455 $0 4.15%
    47% 10 $2,360,000 $236,000 $0 4.11%
    49% 10 $2,260,000 $226,000 $0 3.89%
    46% 8 $1,570,000 $196,250 $0 4.23%
    45% 7 $1,055,000 $150,714 $0 4.16%
    48% 3 $305,000 $101,667 $0 5.11%
    >60% 3 $485,000 $161,667 $0 5.83%

    Priorityone Bank lent most frequently to those with DTI ratios of 20-30%, with 114 originations. The next most common DTI ratio? 30-36%, with 95 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 413 $71,225,000 $172,458 $0 4.69%
    Not applicable 62 $13,290,000 $214,355 $0 6.27%
    Black 54 $7,370,000 $136,481 $0 4.93%
    Not provided 8 $1,550,000 $193,750 $0 4.33%
    Asian 6 $1,530,000 $255,000 $0 3.81%
    Asian Indian 1 $225,000 $225,000 $0 4.38%
    Chinese 1 $165,000 $165,000 $0 5.95%
    Native Hawaiian or Islander 1 $25,000 $25,000 $0 6.25%

    Approval Rates

    Total approvals of all applications
    97.39%

    Priorityone Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    90.84%

    Priorityone Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 546 $95,380,000 $174,689

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $6,425,000 $1,285,000
    Single Family (1-4 Units):Manufactured 7 $175,000 $25,000
    Single Family (1-4 Units):Site-Built 534 $88,780,000 $166,255

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 34 $2,610,000 $76,765 $0 6.12%
    40-60% 61 $10,105,000 $165,656 $0 5.44%
    60-80% 170 $28,590,000 $168,176 $0 5.16%
    80-100% 250 $50,490,000 $201,960 $0 4.39%
    Over 100% 12 $2,590,000 $215,833 $0 4.03%
    Under 20% 18 $910,000 $50,556 $0 5.43%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    PriorityOne Bank 164 Hwy 481 South Morton, MS 39117 Full Service B&M $42,981
    PriorityOne Bank 1021 Hwy, 49 South Richland, MS 39218 Full Service B&M $30,238
    PriorityOne Bank 1400 West Government Street Brandon, MS 39042 Full Service B&M $75,079
    PriorityOne Bank 1596 Simpson Highway 49 Magee, MS 39111 Full Service B&M $41,292
    PriorityOne Bank 200 Civic Boulevard Collins, MS 39428 Full Service B&M $3,217
    PriorityOne Bank 201 Northlake Avenue, Suite 105 Ridgeland, MS 39157 Full Service B&M $18,150
    PriorityOne Bank 215 Main Street Collins, MS 39428 Full Service B&M $79,586
    PriorityOne Bank 217 W Main Street Seminary, MS 39479 Full Service B&M $31,573
    PriorityOne Bank 220 North Main Avenue Magee, MS 39111 Full Service B&M $41,694
    PriorityOne Bank 3066 Simpson Highway 13 Mendenhall, MS 39114 Full Service B&M $57,417
    PriorityOne Bank 3480 Highway 80 East Pearl, MS 39208 Full Service B&M $29,603
    PriorityOne Bank 3500 Lakeland Drive, Suite 501 Flowood, MS 39232 Full Service B&M $3,150
    PriorityOne Bank 528 Second Street Pelahatchie, MS 39145 Full Service B&M $29,440
    PriorityOne Bank 6276 Highway 98 West Hattiesburg, MS 39402 Full Service B&M $51,246
    PriorityOne Bank 7144 Highway 98 West Hattiesburg, MS 39402 Full Service B&M $13,119

    For 2019, Priorityone Bank had 15 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $32,256
    Net interest income $25,529
    Total noninterest income $11,713
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $4,743
    Trading account gains and fees $0
    Additional Noninterest Income $6,970
    Pre-tax net operating income $9,939
    Securities gains (or losses, -) $0
    Income before extraordinary items $9,939
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $9,939
    Minority interest net income $0
    Net income $9,939
    Sale, conversion, retirement of capital stock, net $801
    Net operating income $9,939

    Priorityone Bank's gross interest income from loans was $32,256,000.
    Priorityone Bank's net interest income from loans was $25,529,000.
    Priorityone Bank's fee based income from loans was $4,743,000.
    Priorityone Bank's net income from loans was $9,939,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $6,727
    Provision for credit losses $2,000
    Total noninterest expense $25,303
    Salaries and employee benefits $14,780
    Premises and equipment expense $2,828
    Additional noninterest expense $7,695
    Applicable income taxes $0
    Net charge-offs $2,158
    Cash dividends $9,250

    Priorityone Bank's interest expense for loans was $6,727,000.
    Priorityone Bank's payroll and benefits expense were $14,780,000.
    Priorityone Bank's property, plant and equipment expenses $2,828,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 1.0%
    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 $578,255
    Deposits held in domestic offices $578,255
    Deposits by Individuals, partnerships, and corporations $519,200
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $59,055
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $10,916
    Demand deposits $10,422
    Nontransaction accounts $567,339
    Money market deposit accounts (MMDAs) $272,441
    Other savings deposits (excluding MMDAs) $83,988
    Total time deposits $210,910
    Total time and savings deposits $567,833
    Noninterest-bearing deposits $111,916
    Interest-bearing deposits $466,339
    Retail deposits $536,254
    IRAs and Keogh plan accounts $25,527
    Brokered deposits $7,117
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $696,736
    Cash & Balances due from depository institutions $41,524
    Interest-bearing balances $27,568
    Total securities $83,542
    Federal funds sold & reverse repurchase $0
    Net loans and leases $525,091
    Loan and leases loss allowance $5,258
    Trading account assets $0
    Bank premises and fixed assets $15,562
    Other real estate owned $465
    Goodwill and other intangibles $268
    All other assets $30,284

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $696,736
    Total Liabilities $621,619
    Total deposits $578,255
    Interest-bearing deposits $466,339
    Deposits held in domestic offices $578,255
    % insured (estimated) $82
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $39,000
    Subordinated debt $0
    All other liabilities $4,364

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $525,091
    Loan and leases loss allowance $5,258
    Total loans and leases (domestic) $530,349
    All real estate loans $433,441
    Real estate loans in domestic offices $433,441
    Construction and development loans $56,705
    Residential 1-4 family construction $24,208
    Other construction, all land development and other land $32,497
    Loans secured by nonfarm nonresidential properties $182,074
    Nonfarm nonresidential secured by owner-occupied properties $97,509
    Commercial real estate & other non-farm, non-residential $84,565
    Multifamily residential real estate $18,760
    1-4 family residential loans $129,228
    Farmland loans $46,674
    Loans held in foreign offices $0
    Farm loans $2,126
    Commercial and industrial loans $63,683
    To non-U.S. addressees $0
    Loans to individuals $27,383
    Credit card loans $0
    Related Plans $997
    Consumer Auto Loans $8,268
    Other loans to individuals $18,118
    All other loans & leases $3,716
    Loans to foreign governments and official institutions $0
    Other loans $0
    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

    PriorityOne Bank had $525,091,000 of loans outstanding in 2019. $433,441,000 of loans were in real estate loans. $56,705,000 of loans were in development loans. $18,760,000 of loans were in multifamily mortgage loans. $129,228,000 of loans were in 1-4 family mortgage loans. $2,126,000 of loans were in farm loans. $0 of loans were in credit card loans. $8,268,000 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 383 $81,286 $212,235
    Nonfarm, nonresidential loans - <$100k 112 $4,406 $39,339
    Nonfarm, nonresidential loans - $100-250k 110 $13,790 $125,364
    Nonfarm, nonresidential loans - $250k-1MM 161 $63,090 $391,863
    Commercial & Industrial, US addressed loans - <$1MM 1,077 $47,985 $44,554
    Commercial & Industrial, US addressed loans - <$100k 914 $17,622 $19,280
    Commercial & Industrial, US addressed loans - $100-250k 95 $10,530 $110,842
    Commercial & Industrial, US addressed loans - $250k-1MM 68 $19,833 $291,662
    Farmland loans - <$1MM 513 $31,345 $61,101
    Farmland loans - <$100k 387 $12,347 $31,904
    Farmland loans - $100-250k 97 $11,399 $117,515
    Farmland loans - $250k-1MM 29 $7,599 $262,034
    Agriculture operations loans - <$1MM 87 $2,126 $24,437
    Agriculture operations loans - <$100k 84 $1,712 $20,381
    Agriculture operations loans - $100-250k 2 $370 $185,000
    Agriculture operations loans - $250k-1MM 1 $44 $44,000