Thumb Bank And Trust Mortgage Rates, Fees & Info

Pigeon, MI

LEI: 549300EJVZTLWGR61E96

Tax ID: 38-0929290

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Thumb Bank And Trust is a smaller bank specializing in Home Purchase loans. Thumb Bank And Trust has a high proportion of conventional loans. Their top markets by origination volume include: Lansing, Bay City, Flint, Saginaw, and Alpena among others. We have data for 9 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.

    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.

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    Originations

    107

    Origination Dollar Volume (All Markets)

    $10,395,000

    Employee count

    78

    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 82 $8,200,000 $100,000 $0 0.00%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 6 $790,000 $131,667 $0 0.00%
    BAY CITY, MI (FHA|USDA|VA) 10 $600,000 $60,000 $0 0.00%
    FLINT, MI (FHA|USDA|VA) 2 $280,000 $140,000 $0 0.00%
    SAGINAW, MI (FHA|USDA|VA) 3 $255,000 $85,000 $0 0.00%
    Alpena, MI (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%
    KNOXVILLE, TN (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
    Mount Pleasant, MI (FHA|USDA|VA) 1 $15,000 $15,000 $0 0.00%
    Thumb Bank And Trust's top markets include Lansing, Bay City, Flint, Saginaw, and Alpena among others.

    Their top states include:
  • Michigan (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 107 $10,395,000 $97,150 $0 0.00%

    For 2018, Thumb Bank And Trust's most frequently originated type of loan was Conventional, with 107 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 69 $7,345,000 $106,449 $0 0.00%
    Refi 15 $1,075,000 $71,667 $0 0.00%
    Cash Out Refi 10 $1,020,000 $102,000 $0 0.00%
    Home Improvement 9 $765,000 $85,000 $0 0.00%
    Other 4 $190,000 $47,500 $0 0.00%

    For 2018, Thumb Bank And Trust's most frequently cited loan purpose was Home Purchase, with 69 originations. The 2nd most popular reason was Refi, with 15 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 107 $10,395,000 $97,150 $0 0.00%

    For 2018, Thumb Bank And Trust's most frequently cited loan duration was Other, with 107 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 67 $3,845,000 $57,388 $0 0.00%
    $100k-200k 30 $3,900,000 $130,000 $0 0.00%
    $200k-400k 10 $2,650,000 $265,000 $0 0.00%

    2018 saw Thumb Bank And Trust place emphasis on $100,000 or less loans with 67 originations, totaling $3,845,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 36 $2,050,000 $56,944 $0 0.00%
    $50k-75k 25 $2,815,000 $112,600 $0 0.00%
    $100k-150k 15 $1,365,000 $91,000 $0 0.00%
    $75k-100k 12 $1,590,000 $132,500 $0 0.00%
    $150k-250k 4 $460,000 $115,000 $0 0.00%
    $250k+ 4 $740,000 $185,000 $0 0.00%

    Thumb Bank And Trust lent most frequently to those with incomes in the $50k or less range, with 36 originations. The second most popular income band? $50k-75k, with 25 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 107 $10,395,000 $97,150 $0 0.00%

    Thumb Bank And Trust lent most frequently to those with DTI ratios of Exempt%, with 107 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 97 $9,235,000 $95,206 $0 0.00%
    Not applicable 5 $735,000 $147,000 $0 0.00%
    Not provided 5 $425,000 $85,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    81.01%

    Thumb Bank And Trust has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    80.37%

    Thumb Bank And Trust has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 107 $10,395,000 $97,150

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $385,000 $385,000
    Single Family (1-4 Units):Manufactured 7 $455,000 $65,000
    Single Family (1-4 Units):Site-Built 99 $9,555,000 $96,515

    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 $15,638
    Thumb Bank and Trust 2985 East Wilder Road Bay City, MI 48706 Full Service B&M $25,526
    Thumb Bank and Trust 6128 East Cass City Road Elkland Township, MI 48726 Full Service B&M $52,438
    Thumb Bank and Trust 708 Center Ave, Suite 1 Bay City, MI 48708 Full Service B&M $11,173
    Thumb Bank and Trust 7100 Main Street Caseville, MI 48725 Full Service B&M $19,522
    Thumb Bank and Trust 7254 Michigan Avenue Pigeon, MI 48755 Full Service B&M $92,308

    For 2018, Thumb Bank And Trust had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $10,107
    Net interest income $8,667
    Total noninterest income $2,044
    Gross Fiduciary activities income $703
    Service charges on deposit accounts $421
    Trading account gains and fees $0
    Additional Noninterest Income $920
    Pre-tax net operating income $1,802
    Securities gains (or losses, -) $5
    Income before extraordinary items $1,807
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,807
    Minority interest net income $0
    Net income $1,807
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,802

    Thumb Bank And Trust's gross interest income from loans was $10,107,000.
    Thumb Bank And Trust's net interest income from loans was $8,667,000.
    Thumb Bank And Trust's fee based income from loans was $421,000.
    Thumb Bank And Trust's net income from loans was $1,807,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,440
    Provision for credit losses $-250
    Total noninterest expense $9,159
    Salaries and employee benefits $5,534
    Premises and equipment expense $1,071
    Additional noninterest expense $2,554
    Applicable income taxes $0
    Net charge-offs $-133
    Cash dividends $1,073

    Thumb Bank And Trust's interest expense for loans was $1,440,000.
    Thumb Bank And Trust's payroll and benefits expense were $5,534,000.
    Thumb Bank And Trust's property, plant and equipment expenses $1,071,000.

    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 1.0%
    HELOC loans 1.0%
    All other family 1.0%
    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 $234,576
    Deposits held in domestic offices $234,576
    Deposits by Individuals, partnerships, and corporations $212,456
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $22,120
    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 $106,488
    Demand deposits $60,700
    Nontransaction accounts $128,088
    Money market deposit accounts (MMDAs) $9,706
    Other savings deposits (excluding MMDAs) $41,055
    Total time deposits $77,327
    Total time and savings deposits $173,876
    Noninterest-bearing deposits $60,700
    Interest-bearing deposits $173,876
    Retail deposits $212,173
    IRAs and Keogh plan accounts $15,720
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $262,070
    Cash & Balances due from depository institutions $17,694
    Interest-bearing balances $10,569
    Total securities $61,841
    Federal funds sold & reverse repurchase $2,149
    Net loans and leases $165,722
    Loan and leases loss allowance $2,181
    Trading account assets $0
    Bank premises and fixed assets $6,956
    Other real estate owned $0
    Goodwill and other intangibles $487
    All other assets $7,221

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $262,070
    Total Liabilities $239,089
    Total deposits $234,576
    Interest-bearing deposits $173,876
    Deposits held in domestic offices $234,576
    % insured (estimated) $79
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $4,000
    Subordinated debt $0
    All other liabilities $513

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $165,722
    Loan and leases loss allowance $2,181
    Total loans and leases (domestic) $167,903
    All real estate loans $117,619
    Real estate loans in domestic offices $117,619
    Construction and development loans $2,503
    Residential 1-4 family construction $1,770
    Other construction, all land development and other land $733
    Loans secured by nonfarm nonresidential properties $42,577
    Nonfarm nonresidential secured by owner-occupied properties $12,399
    Commercial real estate & other non-farm, non-residential $30,178
    Multifamily residential real estate $0
    1-4 family residential loans $18,828
    Farmland loans $53,711
    Loans held in foreign offices $0
    Farm loans $28,178
    Commercial and industrial loans $18,791
    To non-U.S. addressees $0
    Loans to individuals $2,949
    Credit card loans $0
    Related Plans $83
    Consumer Auto Loans $2,260
    Other loans to individuals $606
    All other loans & leases $366
    Loans to foreign governments and official institutions $0
    Other loans $103
    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 $1,640
    Non 1-4 family restructured loans & leases $1,332
    Total loans and leases (foreign) $0

    Thumb Bank and Trust had $165,722,000 of loans outstanding in 2018. $117,619,000 of loans were in real estate loans. $2,503,000 of loans were in development loans. $0 of loans were in multifamily mortgage loans. $18,828,000 of loans were in 1-4 family mortgage loans. $28,178,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,260,000 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 205 $27,493 $134,112
    Nonfarm, nonresidential loans - <$100k 98 $4,167 $42,520
    Nonfarm, nonresidential loans - $100-250k 66 $8,425 $127,652
    Nonfarm, nonresidential loans - $250k-1MM 41 $14,901 $363,439
    Commercial & Industrial, US addressed loans - <$1MM 259 $16,061 $62,012
    Commercial & Industrial, US addressed loans - <$100k 190 $4,704 $24,758
    Commercial & Industrial, US addressed loans - $100-250k 47 $4,902 $104,298
    Commercial & Industrial, US addressed loans - $250k-1MM 22 $6,455 $293,409
    Farmland loans - <$1MM 340 $38,692 $113,800
    Farmland loans - <$100k 159 $7,833 $49,264
    Farmland loans - $100-250k 134 $17,831 $133,067
    Farmland loans - $250k-1MM 47 $13,028 $277,191
    Agriculture operations loans - <$1MM 332 $19,890 $59,910
    Agriculture operations loans - <$100k 266 $7,800 $29,323
    Agriculture operations loans - $100-250k 46 $6,264 $136,174
    Agriculture operations loans - $250k-1MM 20 $5,826 $291,300