Planters Bank Mortgage Rates, Fees & Info

Hopkinsville, KY

LEI: 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

493

Origination Dollar Volume (All Markets)

$295,005,000

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) 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%
Planters Bank's top markets include Clarksville, Bowling Green, Nashville, Fayetteville, and Cullowhee among others.

Their top states include:
  • Tennessee (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Utah (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • 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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 206 $192,410,000 $934,029 $0 0.00%
    Other 93 $15,315,000 $164,677 $0 0.00%
    Cash Out Refi 89 $73,815,000 $829,382 $0 0.00%
    Home Improvement 58 $4,180,000 $72,069 $0 0.00%
    Refi 47 $9,285,000 $197,553 $0 0.00%

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 181 $9,335,000 $51,575 $0 0.00%
    $100k-200k 143 $20,945,000 $146,469 $0 0.00%
    $200k-400k 90 $24,050,000 $267,222 $0 0.00%
    $400k-600k 37 $17,215,000 $465,270 $0 0.00%
    $1MM+ 26 $211,330,000 $8,128,077 $0 0.00%
    $600k-1MM 16 $12,130,000 $758,125 $0 0.00%

    2022 saw Planters Bank place emphasis on $100,000 or less loans with 181 originations, totaling $9,335,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 77 $44,435,000 $577,078 $0 0.00%
    $100k-150k 74 $11,550,000 $156,081 $0 0.00%
    $150k-250k 67 $15,255,000 $227,687 $0 0.00%
    $50k-75k 60 $5,620,000 $93,667 $0 0.00%
    $75k-100k 58 $9,680,000 $166,897 $0 0.00%
    $50k or less 47 $2,605,000 $55,426 $0 0.00%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 94 $203,780,000 $2,167,872 $0 0.00%
    White 375 $86,145,000 $229,720 $0 0.00%
    Asian 4 $2,200,000 $550,000 $0 0.00%
    Black 15 $1,495,000 $99,667 $0 0.00%
    Not provided 4 $1,350,000 $337,500 $0 0.00%
    Other Asian 1 $35,000 $35,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    98.61%

    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 origination
    98.99%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    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%