Thumb Bank And Trust Mortgage Rates, Fees & Info

Pigeon, MI

LEI: 549300EJVZTLWGR61E96

Tax ID: 38-0929290

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

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Mortgage Data

Bank Data

Review & Overview

Thumb Bank And Trust is a smaller bank specializing in Home Purchase, Cash Out Refi, and Refi loans. Thumb Bank And Trust has a high proportion of conventional loans. Their top markets by origination volume include: Bay City, Detroit, Huntington, Lansing, and Midland among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)

Thumb Bank And 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

238

Origination Dollar Volume (All Markets)

$33,470,000

Employee count

72

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
Outside of Metro Areas 180 $25,350,000 $140,833 $0 0.00%
BAY CITY, MI (FHA|USDA|VA) 31 $4,445,000 $143,387 $0 0.00%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 9 $835,000 $92,778 $0 0.00%
Huntington, IN (FHA|USDA|VA) 2 $640,000 $320,000 $0 0.00%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 3 $445,000 $148,333 $0 0.00%
MIDLAND, MI (FHA|USDA|VA) 3 $395,000 $131,667 $0 0.00%
BILLINGS, MT (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
TUCSON, AZ (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
Mount Pleasant, MI (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
Sturgis, MI (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
COLUMBUS, OH (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
FLINT, MI (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
Alma, MI (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.00%
SAGINAW, MI (FHA|USDA|VA) 1 $35,000 $35,000 $0 0.00%
Thumb Bank And Trust's top markets include Bay City, Detroit, Huntington, Lansing, and Midland among others.

Their top states include:
  • Michigan (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Montana (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 238 $33,470,000 $140,630 $0 0.00%

    For 2021, Thumb Bank And Trust's most frequently originated type of loan was Conventional, with 238 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 84 $12,550,000 $149,405 $0 0.00%
    Cash Out Refi 73 $10,805,000 $148,014 $0 0.00%
    Refi 69 $8,035,000 $116,449 $0 0.00%
    Other 9 $1,965,000 $218,333 $0 0.00%
    Home Improvement 3 $115,000 $38,333 $0 0.00%

    For 2021, Thumb Bank And Trust's most frequently cited loan purpose was Home Purchase, with 84 originations. The 2nd most popular reason was Cash Out Refi, with 73 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 238 $33,470,000 $140,630 $0 0.00%

    For 2021, Thumb Bank And Trust's most frequently cited loan duration was Other, with 238 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 106 $15,690,000 $148,019 $0 0.00%
    $100,000 or less 99 $6,495,000 $65,606 $0 0.00%
    $200k-400k 23 $6,245,000 $271,522 $0 0.00%
    $400k-600k 8 $3,750,000 $468,750 $0 0.00%
    $600k-1MM 2 $1,290,000 $645,000 $0 0.00%

    2021 saw Thumb Bank And Trust place emphasis on $100k-200k loans with 106 originations, totaling $15,690,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 66 $6,220,000 $94,242 $0 0.00%
    $50k-75k 54 $6,240,000 $115,556 $0 0.00%
    $75k-100k 41 $6,605,000 $161,098 $0 0.00%
    $100k-150k 36 $4,690,000 $130,278 $0 0.00%
    $150k-250k 14 $2,700,000 $192,857 $0 0.00%
    $250k+ 10 $2,960,000 $296,000 $0 0.00%

    Thumb Bank And Trust lent most frequently to those with incomes in the $50k or less range, with 66 originations. The second most popular income band? $50k-75k, with 54 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 238 $33,470,000 $140,630 $0 0.00%

    Thumb Bank And Trust lent most frequently to those with DTI ratios of Exempt%, with 238 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 212 $28,510,000 $134,481 $0 0.00%
    Not applicable 9 $3,025,000 $336,111 $0 0.00%
    Not provided 15 $1,675,000 $111,667 $0 0.00%
    Asian 1 $155,000 $155,000 $0 0.00%
    Asian Indian 1 $105,000 $105,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    82.84%

    Thumb Bank And Trust has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    82.35%

    Thumb Bank And Trust has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 238 $33,470,000 $140,630

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    238 $33,470,000 $140,630

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Thumb Bank and Trust 1 E. Huron Ave Suite A Bad Axe, MI 48413 Full Service B&M $22,817
    Thumb Bank and Trust 7100 Main Street Caseville, MI 48725 Full Service B&M $29,134
    Thumb Bank and Trust 7254 Michigan Avenue Pigeon, MI 48755 Full Service B&M $134,434
    Thumb Bank and Trust 2985 East Wilder Road Bay City, MI 48706 Full Service B&M $46,739
    Thumb Bank and Trust 6128 East Cass City Road Elkland Township, MI 48726 Full Service B&M $80,124
    Thumb Bank and Trust 708 Center Ave, Suite 1 Bay City, MI 48708 Full Service B&M $15,519

    For 2021, Thumb Bank And Trust had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $13,861
    Net interest income $12,930
    Total noninterest income $2,865
    Gross Fiduciary activities income $702
    Service charges on deposit accounts $330
    Trading account gains and fees $0
    Additional Noninterest Income $1,833
    Pre-tax net operating income $5,652
    Securities gains (or losses, -) $0
    Income before extraordinary items $5,652
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,652
    Minority interest net income $0
    Net income $5,652
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $5,652

    Thumb Bank And Trust's gross interest income from loans was $13,861,000.
    Thumb Bank And Trust's net interest income from loans was $12,930,000.
    Thumb Bank And Trust's fee based income from loans was $330,000.
    Thumb Bank And Trust's net income from loans was $5,652,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $931
    Provision for credit losses $0
    Total noninterest expense $10,143
    Salaries and employee benefits $6,098
    Premises and equipment expense $1,201
    Additional noninterest expense $2,844
    Applicable income taxes $0
    Net charge-offs $-75
    Cash dividends $2,990

    Thumb Bank And Trust's interest expense for loans was $931,000.
    Thumb Bank And Trust's payroll and benefits expense were $6,098,000.
    Thumb Bank And Trust's property, plant and equipment expenses $1,201,000.

    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 $347,197
    Deposits held in domestic offices $347,197
    Deposits by Individuals, partnerships, and corporations $326,321
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $20,876
    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 $189,037
    Demand deposits $116,487
    Nontransaction accounts $158,160
    Money market deposit accounts (MMDAs) $21,370
    Other savings deposits (excluding MMDAs) $68,327
    Total time deposits $68,464
    Total time and savings deposits $230,710
    Noninterest-bearing deposits $116,487
    Interest-bearing deposits $230,710
    Retail deposits $325,426
    IRAs and Keogh plan accounts $14,063
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $379,686
    Cash & Balances due from depository institutions $28,448
    Interest-bearing balances $25,982
    Total securities $134,952
    Federal funds sold & reverse repurchase $8,192
    Net loans and leases $191,744
    Loan and leases loss allowance $2,576
    Trading account assets $0
    Bank premises and fixed assets $6,194
    Other real estate owned $0
    Goodwill and other intangibles $494
    All other assets $9,662

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $379,686
    Total Liabilities $350,581
    Total deposits $347,197
    Interest-bearing deposits $230,710
    Deposits held in domestic offices $347,197
    % insured (estimated) $71
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $2,000
    Subordinated debt $0
    All other liabilities $1,384

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $191,744
    Loan and leases loss allowance $2,576
    Total loans and leases (domestic) $194,320
    All real estate loans $140,819
    Real estate loans in domestic offices $140,819
    Construction and development loans $9,402
    Residential 1-4 family construction $848
    Other construction, all land development and other land $8,554
    Loans secured by nonfarm nonresidential properties $38,407
    Nonfarm nonresidential secured by owner-occupied properties $11,843
    Commercial real estate & other non-farm, non-residential $26,564
    Multifamily residential real estate $6,766
    1-4 family residential loans $27,739
    Farmland loans $58,505
    Loans held in foreign offices $0
    Farm loans $26,225
    Commercial and industrial loans $22,533
    To non-U.S. addressees $0
    Loans to individuals $3,757
    Credit card loans $0
    Related Plans $89
    Consumer Auto Loans $1,780
    Other loans to individuals $1,888
    All other loans & leases $986
    Loans to foreign governments and official institutions $0
    Other loans $540
    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

    Thumb Bank and Trust had $191,744,000 of loans outstanding in 2021. $140,819,000 of loans were in real estate loans. $9,402,000 of loans were in development loans. $6,766,000 of loans were in multifamily mortgage loans. $27,739,000 of loans were in 1-4 family mortgage loans. $26,225,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,780,000 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 148 $22,661 $153,115
    Nonfarm, nonresidential loans - <$100k 60 $2,258 $37,633
    Nonfarm, nonresidential loans - $100-250k 56 $6,434 $114,893
    Nonfarm, nonresidential loans - $250k-1MM 32 $13,969 $436,531
    Commercial & Industrial, US addressed loans - <$1MM 555 $20,656 $37,218
    Commercial & Industrial, US addressed loans - <$100k 461 $8,388 $18,195
    Commercial & Industrial, US addressed loans - $100-250k 72 $6,117 $84,958
    Commercial & Industrial, US addressed loans - $250k-1MM 22 $6,151 $279,591
    Farmland loans - <$1MM 345 $37,790 $109,536
    Farmland loans - <$100k 147 $6,468 $44,000
    Farmland loans - $100-250k 147 $18,296 $124,463
    Farmland loans - $250k-1MM 51 $13,026 $255,412
    Agriculture operations loans - <$1MM 332 $15,185 $45,738
    Agriculture operations loans - <$100k 251 $5,133 $20,450
    Agriculture operations loans - $100-250k 60 $6,870 $114,500
    Agriculture operations loans - $250k-1MM 21 $3,182 $151,524