Planters Bank Mortgage Rates, Fees & Info
Hopkinsville, KYLEI: 549300IHBKY3L5OIDT39
Tax ID: 61-1293646
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Mortgage Data
Review & Overview
Planters Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Planters Bank has a high proportion of conventional loans. Their top markets by origination volume include: Clarksville, Bowling Green, Nashville, Fayetteville, and Cullowhee among others. We have data for 25 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.
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Originations
493Origination Dollar Volume (All Markets)
$295,005,000Top 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) | 327 | $177,265,000 | $542,095 | $0 | 0.00% |
| BOWLING GREEN, KY (FHA|USDA|VA) | 4 | $36,060,000 | $9,015,000 | $0 | 0.00% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 46 | $35,670,000 | $775,435 | $0 | 0.00% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 1 | $11,805,000 | $11,805,000 | $0 | 0.00% |
| Outside of Metro Areas | 67 | $9,805,000 | $146,343 | $0 | 0.00% |
| Cullowhee, NC (FHA|USDA|VA) | 1 | $7,805,000 | $7,805,000 | $0 | 0.00% |
| Heber, UT (FHA|USDA|VA) | 1 | $5,435,000 | $5,435,000 | $0 | 0.00% |
| PANAMA CITY, FL (FHA|USDA|VA) | 2 | $3,360,000 | $1,680,000 | $0 | 0.00% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 3 | $1,205,000 | $401,667 | $0 | 0.00% |
| Madisonville, KY (FHA|USDA|VA) | 17 | $1,085,000 | $63,824 | $0 | 0.00% |
| Murray, KY (FHA|USDA|VA) | 4 | $950,000 | $237,500 | $0 | 0.00% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 2 | $850,000 | $425,000 | $0 | 0.00% |
| Crossville, TN (FHA|USDA|VA) | 3 | $655,000 | $218,333 | $0 | 0.00% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $0 | 0.00% |
| RENO, NV (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 0.00% |
| EVANSVILLE, IN-KY (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $0 | 0.00% |
| Cookeville, TN (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $0 | 0.00% |
| EL PASO, TX (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 0.00% |
| LOUISVILLE, KY (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 0.00% |
| Branson, MO (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| Paris, TN (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| Central City, KY (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| Paducah, KY-IL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| OWENSBORO, KY (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
| BLOOMINGTON, IN (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 493 | $295,005,000 | $598,387 | $0 | 0.00% |
For 2022, Planters Bank's most frequently originated type of loan was Conventional, with 493 originations.
Loan Reason
For 2022, Planters Bank's most frequently cited loan purpose was Home Purchase, with 206 originations. The 2nd most popular reason was Other, with 93 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 493 | $295,005,000 | $598,387 | $0 | 0.00% |
For 2022, Planters Bank's most frequently cited loan duration was Other, with 493 originations.
Loan Sizing
2022 saw Planters Bank place emphasis on $100,000 or less loans with 181 originations, totaling $9,335,000 in origination value.
Applicant Income
Planters Bank lent most frequently to those with incomes in the $250k+ range, with 77 originations. The second most popular income band? $100k-150k, with 74 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 493 | $295,005,000 | $598,387 | $0 | 0.00% |
Planters Bank lent most frequently to those with DTI ratios of Exempt%, with 493 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.61%
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 origination98.99%
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 | 493 | $295,005,000 | $598,387 |
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| PLANET HOME LENDING, LLC | Conventional home mortgage | Trouble during payment process | 1 | 50.0% |
| PLANET HOME LENDING, LLC | FHA mortgage | Trouble during payment process | 1 | 50.0% |