Planters Bank Mortgage Rates, Fees & Info

Hopkinsville, KY

LEI: 549300IHBKY3L5OIDT39

Tax ID: 61-1293646

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Planters Bank is a smaller bank specializing in Home Purchase loans. Planters Bank has a high proportion of conventional loans. Their top markets by origination volume include: Clarksville, Nashville, Johnson City, Tampa, and Madisonville among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Planters 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.

    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

    374

    Origination Dollar Volume (All Markets)

    $59,340,000

    Employee count

    159

    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
    CLARKSVILLE, TN-KY (FHA|USDA|VA) 282 $37,810,000 $134,078 $0 0.00%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 29 $9,065,000 $312,586 $0 0.00%
    JOHNSON CITY, TN (FHA|USDA|VA) 1 $5,045,000 $5,045,000 $0 0.00%
    Outside of Metro Areas 36 $3,050,000 $84,722 $0 0.00%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $1,805,000 $1,805,000 $0 0.00%
    Madisonville, KY (FHA|USDA|VA) 17 $785,000 $46,176 $0 0.00%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 2 $660,000 $330,000 $0 0.00%
    Crossville, TN (FHA|USDA|VA) 1 $435,000 $435,000 $0 0.00%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $285,000 $285,000 $0 0.00%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
    BOWLING GREEN, KY (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
    Murray, KY (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
    Greenwood, MS (FHA|USDA|VA) 1 $15,000 $15,000 $0 0.00%
    Planters Bank's top markets include Clarksville, Nashville, Johnson City, Tampa, and Madisonville among others.

    Their top states include:
  • Tennessee (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Mississippi (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 374 $59,340,000 $158,663 $0 0.00%

    For 2019, Planters Bank's most frequently originated type of loan was Conventional, with 374 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 151 $42,255,000 $279,834 $0 0.00%
    Other 70 $4,340,000 $62,000 $0 0.00%
    Cash Out Refi 66 $6,870,000 $104,091 $0 0.00%
    Home Improvement 58 $3,240,000 $55,862 $0 0.00%
    Refi 29 $2,635,000 $90,862 $0 0.00%

    For 2019, Planters Bank's most frequently cited loan purpose was Home Purchase, with 151 originations. The 2nd most popular reason was Other, with 70 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 374 $59,340,000 $158,663 $0 0.00%

    For 2019, Planters Bank's most frequently cited loan duration was Other, with 374 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 232 $11,440,000 $49,310 $0 0.00%
    $100k-200k 90 $12,060,000 $134,000 $0 0.00%
    $200k-400k 31 $8,335,000 $268,871 $0 0.00%
    $400k-600k 8 $3,700,000 $462,500 $0 0.00%
    $600k-1MM 8 $5,690,000 $711,250 $0 0.00%
    $1MM+ 5 $18,115,000 $3,623,000 $0 0.00%

    2019 saw Planters Bank place emphasis on $100,000 or less loans with 232 originations, totaling $11,440,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 62 $3,380,000 $54,516 $0 0.00%
    $100k-150k 58 $5,140,000 $88,621 $0 0.00%
    $50k-75k 56 $4,270,000 $76,250 $0 0.00%
    $75k-100k 50 $4,470,000 $89,400 $0 0.00%
    $150k-250k 44 $5,510,000 $125,227 $0 0.00%
    $250k+ 24 $7,420,000 $309,167 $0 0.00%

    Planters Bank lent most frequently to those with incomes in the $50k or less range, with 62 originations. The second most popular income band? $100k-150k, with 58 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 374 $59,340,000 $158,663 $0 0.00%

    Planters Bank lent most frequently to those with DTI ratios of Exempt%, with 374 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 280 $29,480,000 $105,286 $0 0.00%
    Not applicable 70 $28,140,000 $402,000 $0 0.00%
    Not provided 9 $755,000 $83,889 $0 0.00%
    Asian 5 $515,000 $103,000 $0 0.00%
    Black 10 $450,000 $45,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.77%

    Planters 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
    97.06%

    Planters Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 374 $59,340,000 $158,663

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 16 $20,480,000 $1,280,000
    Single Family (1-4 Units):Manufactured 2 $100,000 $50,000
    Single Family (1-4 Units):Site-Built 356 $38,760,000 $108,876

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    PLANET HOME LENDING, LLC Conventional home mortgage Closing on a mortgage 1 2.1%
    PLANET HOME LENDING, LLC Conventional home mortgage Problem with a credit reporting company's investigation into an existing problem 1 2.1%
    PLANET HOME LENDING, LLC Conventional home mortgage Struggling to pay mortgage 9 18.8%
    PLANET HOME LENDING, LLC Conventional home mortgage Trouble during payment process 13 27.1%
    PLANET HOME LENDING, LLC FHA mortgage Closing on a mortgage 1 2.1%
    PLANET HOME LENDING, LLC FHA mortgage Incorrect information on your report 1 2.1%
    PLANET HOME LENDING, LLC FHA mortgage Struggling to pay mortgage 5 10.4%
    PLANET HOME LENDING, LLC FHA mortgage Trouble during payment process 3 6.3%
    PLANET HOME LENDING, LLC Other type of mortgage Struggling to pay mortgage 2 4.2%
    PLANET HOME LENDING, LLC Other type of mortgage Trouble during payment process 1 2.1%
    PLANET HOME LENDING, LLC VA mortgage Closing on a mortgage 1 2.1%
    PLANET HOME LENDING, LLC VA mortgage Problem with a credit reporting company's investigation into an existing problem 1 2.1%
    PLANET HOME LENDING, LLC VA mortgage Struggling to pay mortgage 2 4.2%
    PLANET HOME LENDING, LLC VA mortgage Trouble during payment process 7 14.6%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Planters Bank, Inc. 1312 South Main Street Hopkinsville, KY 42240 Full Service B&M $309,137
    Planters Bank, Inc. 1430 North Main Street Sturgis, KY 42459 Limited, Drive-thru $0
    Planters Bank, Inc. 1835 Madison Street, Suite D Clarksville, TN 37043 Full Service B&M $29,853
    Planters Bank, Inc. 208 N. Jefferson Street Princeton, KY 42445 Full Service B&M $28,056
    Planters Bank, Inc. 2251 Westerfield Drive Providence, KY 42450 Full Service B&M $30,012
    Planters Bank, Inc. 3103 Canton Street Hopkinsville, KY 42240 Full Service B&M $29,683
    Planters Bank, Inc. 325 Commerce Street Clarksville, TN 37040 Full Service B&M $258,621
    Planters Bank, Inc. 4195 Fort Campbell Blvd Hopkinsville, KY 42240 Full Service B&M $82,331
    Planters Bank, Inc. 495 Dunlop Lane Clarksville, TN 37040 Full Service B&M $26,925
    Planters Bank, Inc. 50 Oak Heights Dawson Springs, KY 42408 Full Service B&M $24,667
    Planters Bank, Inc. 520 Adams St Sturgis, KY 42459 Full Service B&M $36,141
    Planters Bank, Inc. 796 Us Highway 41 N Sebree, KY 42455 Full Service B&M $21,142
    Planters Bank, Inc. 894 Highway 76 Clarksville, TN 37043 Full Service B&M $11,673

    For 2019, Planters Bank had 13 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $51,266
    Net interest income $37,043
    Total noninterest income $5,697
    Gross Fiduciary activities income $764
    Service charges on deposit accounts $1,830
    Trading account gains and fees $0
    Additional Noninterest Income $3,103
    Pre-tax net operating income $18,537
    Securities gains (or losses, -) $-23
    Income before extraordinary items $15,084
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $15,084
    Minority interest net income $0
    Net income $15,084
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $15,102

    Planters Bank's gross interest income from loans was $51,266,000.
    Planters Bank's net interest income from loans was $37,043,000.
    Planters Bank's fee based income from loans was $1,830,000.
    Planters Bank's net income from loans was $15,084,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $14,223
    Provision for credit losses $1,050
    Total noninterest expense $23,153
    Salaries and employee benefits $12,970
    Premises and equipment expense $2,292
    Additional noninterest expense $7,891
    Applicable income taxes $3,430
    Net charge-offs $-78
    Cash dividends $0

    Planters Bank's interest expense for loans was $14,223,000.
    Planters Bank's payroll and benefits expense were $12,970,000.
    Planters Bank's property, plant and equipment expenses $2,292,000.

    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 $924,632
    Deposits held in domestic offices $924,632
    Deposits by Individuals, partnerships, and corporations $765,198
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $144,724
    Deposits by Commercial banks and other depository institutions in U.S. $14,710
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $74,655
    Demand deposits $64,951
    Nontransaction accounts $849,977
    Money market deposit accounts (MMDAs) $243,909
    Other savings deposits (excluding MMDAs) $339,387
    Total time deposits $266,681
    Total time and savings deposits $859,681
    Noninterest-bearing deposits $182,301
    Interest-bearing deposits $742,331
    Retail deposits $840,558
    IRAs and Keogh plan accounts $19,925
    Brokered deposits $45,769
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,163,031
    Cash & Balances due from depository institutions $18,535
    Interest-bearing balances $3,182
    Total securities $223,620
    Federal funds sold & reverse repurchase $21
    Net loans and leases $878,697
    Loan and leases loss allowance $13,086
    Trading account assets $0
    Bank premises and fixed assets $11,635
    Other real estate owned $0
    Goodwill and other intangibles $213
    All other assets $30,310

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,163,031
    Total Liabilities $1,035,600
    Total deposits $924,632
    Interest-bearing deposits $742,331
    Deposits held in domestic offices $924,632
    % insured (estimated) $50
    Federal funds purchased and repurchase agreements $19,159
    Trading liabilities $0
    Other borrowed funds $83,996
    Subordinated debt $0
    All other liabilities $7,813

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $878,697
    Loan and leases loss allowance $13,086
    Total loans and leases (domestic) $891,783
    All real estate loans $765,467
    Real estate loans in domestic offices $765,467
    Construction and development loans $223,306
    Residential 1-4 family construction $52,484
    Other construction, all land development and other land $170,822
    Loans secured by nonfarm nonresidential properties $250,591
    Nonfarm nonresidential secured by owner-occupied properties $123,494
    Commercial real estate & other non-farm, non-residential $127,097
    Multifamily residential real estate $33,571
    1-4 family residential loans $187,893
    Farmland loans $70,106
    Loans held in foreign offices $0
    Farm loans $30,440
    Commercial and industrial loans $84,969
    To non-U.S. addressees $0
    Loans to individuals $10,150
    Credit card loans $0
    Related Plans $1,459
    Consumer Auto Loans $3,407
    Other loans to individuals $5,284
    All other loans & leases $1,833
    Loans to foreign governments and official institutions $0
    Other loans $275
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $74
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $6,704
    Non 1-4 family restructured loans & leases $6,180
    Total loans and leases (foreign) $0

    Planters Bank had $878,697,000 of loans outstanding in 2019. $765,467,000 of loans were in real estate loans. $223,306,000 of loans were in development loans. $33,571,000 of loans were in multifamily mortgage loans. $187,893,000 of loans were in 1-4 family mortgage loans. $30,440,000 of loans were in farm loans. $0 of loans were in credit card loans. $3,407,000 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 280 $66,860 $238,786
    Nonfarm, nonresidential loans - <$100k 78 $3,121 $40,013
    Nonfarm, nonresidential loans - $100-250k 84 $10,973 $130,631
    Nonfarm, nonresidential loans - $250k-1MM 118 $52,766 $447,169
    Commercial & Industrial, US addressed loans - <$1MM 353 $38,720 $109,688
    Commercial & Industrial, US addressed loans - <$100k 209 $6,761 $32,349
    Commercial & Industrial, US addressed loans - $100-250k 81 $10,111 $124,827
    Commercial & Industrial, US addressed loans - $250k-1MM 63 $21,848 $346,794
    Farmland loans - <$1MM 209 $26,752 $128,000
    Farmland loans - <$100k 85 $3,357 $39,494
    Farmland loans - $100-250k 77 $9,995 $129,805
    Farmland loans - $250k-1MM 47 $13,400 $285,106
    Agriculture operations loans - <$1MM 189 $13,711 $72,545
    Agriculture operations loans - <$100k 123 $3,554 $28,894
    Agriculture operations loans - $100-250k 40 $4,628 $115,700
    Agriculture operations loans - $250k-1MM 26 $5,529 $212,654