Troy Bank And Trust Company Mortgage Rates, Fees & Info

Troy, AL

LEI: 549300N968Y85YXDX139

Tax ID: 63-0212370

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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    • Mortgage Data

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

    Troy Bank And Trust Company is a smaller bank specializing in Home Purchase and Refi loans. Troy Bank And Trust Company has a high proportion of conventional loans. Their top markets by origination volume include: Dothan, Troy, Enterprise, Ozark, and Crestview among others. We have data for 23 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Troy Bank And Trust Company 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. Troy Bank And Trust Company is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.36% 12/16/24
    30 Year Conventional Refi 6.27% 12/16/24
    30 Year FHA Purchase 6.27% 12/16/24
    30 Year USDA Purchase 6.27% 12/16/24
    15 Year Conventional Purchase 9.94% 12/16/24
    15 Year Conventional Refi 7.01% 12/16/24
    15 Year Cash-out Refi 7.01% 12/16/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Troy Bank And Trust Company Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Troy Bank And Trust Company. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    419

    Origination Dollar Volume (All Markets)

    $76,235,000

    Employee count

    145 Show all (7) awards

    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
    DOTHAN, AL (FHA|USDA|VA) 114 $23,970,000 $210,263 $3,407 4.17%
    Troy, AL (FHA|USDA|VA) 135 $23,685,000 $175,444 $3,944 5.58%
    Enterprise, AL (FHA|USDA|VA) 65 $9,975,000 $153,462 $3,289 5.18%
    Ozark, AL (FHA|USDA|VA) 25 $4,195,000 $167,800 $3,296 4.66%
    Outside of Metro Areas 20 $2,600,000 $130,000 $2,771 5.76%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 6 $2,290,000 $381,667 $4,613 4.50%
    MONTGOMERY, AL (FHA|USDA|VA) 17 $2,225,000 $130,882 $3,208 5.77%
    PANAMA CITY, FL (FHA|USDA|VA) 9 $1,455,000 $161,667 $2,945 5.24%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 3 $795,000 $265,000 $5,462 3.58%
    BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 4 $780,000 $195,000 $3,841 3.88%
    LaGrange, GA-AL (FHA|USDA|VA) 2 $760,000 $380,000 $2,767 4.31%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $665,000 $665,000 $4,057 3.63%
    Alexander City, AL (FHA|USDA|VA) 2 $620,000 $310,000 $3,241 3.88%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $485,000 $485,000 $7,089 4.00%
    COLUMBIA, SC (FHA|USDA|VA) 2 $370,000 $185,000 $3,421 3.44%
    AUBURN-OPELIKA, AL (FHA|USDA|VA) 3 $305,000 $101,667 $2,592 5.33%
    COLUMBUS, GA-AL (FHA|USDA|VA) 2 $260,000 $130,000 $0 6.16%
    Sevierville, TN (FHA|USDA|VA) 1 $245,000 $245,000 $4,922 6.00%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $175,000 $175,000 $1,526 3.38%
    GAINESVILLE, GA (FHA|USDA|VA) 1 $145,000 $145,000 $2,979 4.13%
    MOBILE, AL (FHA|USDA|VA) 2 $100,000 $50,000 $0 6.38%
    Eufaula, AL-GA (FHA|USDA|VA) 2 $90,000 $45,000 $2,246 5.31%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $45,000 $45,000 $0 8.75%
    Troy Bank And Trust Company's top markets include Dothan, Troy, Enterprise, Ozark, and Crestview among others.

    Their top states include:
  • Alabama (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Troy Bank and Trust Company based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    AVADIAN
    Similarity Rank: 480
    APCO EMPLOYEES
    Similarity Rank: 520
    Troy Bank and Trust Company
    Similarity Rank: 805
    ServisFirst Bank
    Similarity Rank: 828
    Tyndall Federal Credit Union
    Similarity Rank: 915
    Hamilton Mortgage Corporation
    Similarity Rank: 1872
    MORTGAGE INVESTORS GROUP, INC.
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    Similarity Rank: 5125
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    FREEDOM MORTGAGE CORPORATION
    Similarity Rank: 6237

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 351 $63,465,000 $180,812 $3,085 5.30%
    VA 38 $8,750,000 $230,263 $5,625 3.40%
    USDA 30 $4,020,000 $134,000 $4,668 3.70%

    For 2019, Troy Bank And Trust Company's most frequently originated type of loan was Conventional, with 351 originations. Their 2nd most popular type was VA, with 38 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 286 $50,060,000 $175,035 $3,727 4.97%
    Refi 112 $22,840,000 $203,929 $3,158 4.80%
    Home Improvement 21 $3,335,000 $158,810 $1,896 6.79%

    For 2019, Troy Bank And Trust Company's most frequently cited loan purpose was Home Purchase, with 286 originations. The 2nd most popular reason was Refi, with 112 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 223 $46,905,000 $210,336 $3,870 3.86%
    20 Year 70 $10,980,000 $156,857 $2,686 6.35%
    15 Year 64 $10,780,000 $168,438 $2,509 5.92%
    1 Year 21 $2,755,000 $131,190 $3,299 6.07%
    Other 15 $2,535,000 $169,000 $3,064 6.51%
    10 Year 14 $860,000 $61,429 $2,210 7.08%
    5 Year 7 $265,000 $37,857 $192 9.00%
    30+ year 3 $975,000 $325,000 $7,620 6.00%
    3 Year 2 $180,000 $90,000 $0 5.88%

    For 2019, Troy Bank And Trust Company's most frequently cited loan duration was 30 Year, with 223 originations. The 2nd most popular length was 20 Year, with 70 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 192 $35,420,000 $184,479
    $1k-2k 75 $12,185,000 $162,467
    $2k-3k 38 $7,030,000 $185,000
    $3k-4k 10 $3,040,000 $304,000
    $4k-5k 6 $2,100,000 $350,000
    $5k+ 3 $1,115,000 $371,667

    Troy Bank And Trust Company's average total fees were $3,870, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 192 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 175 $36,815,000 $210,371
    5-6% 71 $16,155,000 $227,535
    4-5% 60 $13,290,000 $221,500
    6-7% 46 $3,830,000 $83,261
    Over 8% 31 $1,395,000 $45,000
    7-8% 20 $1,220,000 $61,000
    2.5-3% 16 $3,530,000 $220,625

    During 2019, Troy Bank And Trust Company's average interest rate for loans was 3.86%, while their most frequently originated rate bucket for loans was 3-4%, with 175 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 159 $23,175,000 $145,755 $3,420 4.49%
    $100,000 or less 124 $7,160,000 $57,742 $2,279 6.64%
    $200k-400k 113 $31,055,000 $274,823 $4,255 4.03%
    $400k-600k 17 $8,085,000 $475,588 $4,782 4.65%
    $1MM+ 3 $4,845,000 $1,615,000 $0 5.10%
    $600k-1MM 3 $1,915,000 $638,333 $4,057 4.79%

    2019 saw Troy Bank And Trust Company place emphasis on $100k-200k loans with 159 originations, totaling $23,175,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 103 $10,045,000 $97,524 $2,950 5.55%
    $50k-75k 79 $12,275,000 $155,380 $3,879 4.86%
    $100k-150k 70 $15,000,000 $214,286 $3,410 4.85%
    $75k-100k 66 $12,200,000 $184,848 $3,526 4.61%
    $150k-250k 35 $9,525,000 $272,143 $4,519 4.71%
    $250k+ 12 $4,090,000 $340,833 $4,297 4.41%

    Troy Bank And Trust Company lent most frequently to those with incomes in the $50k or less range, with 103 originations. The second most popular income band? $50k-75k, with 79 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 94 $18,830,000 $200,319 $3,536 4.80%
    30-36% 62 $9,440,000 $152,258 $3,510 4.75%
    <20% 50 $7,690,000 $153,800 $2,813 5.22%
    36% 16 $3,040,000 $190,000 $3,582 5.26%
    38% 16 $2,590,000 $161,875 $4,238 4.45%
    39% 14 $2,920,000 $208,571 $3,531 4.29%
    43% 13 $1,995,000 $153,462 $4,074 4.05%
    50-60% 13 $2,605,000 $200,385 $5,338 4.78%
    37% 9 $1,355,000 $150,556 $3,064 4.57%
    42% 8 $1,640,000 $205,000 $4,276 5.12%
    48% 7 $2,265,000 $323,571 $4,212 4.07%
    40% 6 $1,270,000 $211,667 $3,856 3.83%
    49% 5 $815,000 $163,000 $3,562 5.18%
    41% 5 $955,000 $191,000 $3,728 4.90%
    45% 4 $720,000 $180,000 $3,856 3.97%
    46% 3 $375,000 $125,000 $2,029 4.42%
    44% 3 $515,000 $171,667 $2,727 6.75%
    >60% 2 $340,000 $170,000 $2,436 4.94%
    47% 2 $270,000 $135,000 $3,555 3.56%

    Troy Bank And Trust Company lent most frequently to those with DTI ratios of 20-30%, with 94 originations. The next most common DTI ratio? 30-36%, with 62 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 358 $63,400,000 $177,095 $3,561 4.90%
    Not applicable 32 $8,570,000 $267,813 $0 5.86%
    Black 18 $1,990,000 $110,556 $2,282 6.10%
    Asian 6 $1,200,000 $200,000 $4,106 4.35%
    Not provided 3 $415,000 $138,333 $5,665 5.21%
    Chinese 1 $345,000 $345,000 $3,482 4.38%
    Asian Indian 1 $315,000 $315,000 $3,262 3.00%

    Approval Rates

    Total approvals of all applications
    98.38%

    Troy Bank And Trust Company 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
    98.81%

    Troy Bank And Trust Company 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
    209.5 2 $50,000 $25,000
    213.0 3 $115,000 $38,333
    217.25 1 $15,000 $15,000
    230.25 1 $15,000 $15,000
    233.0 1 $45,000 $45,000
    256.0 1 $35,000 $35,000
    266.48 1 $55,000 $55,000
    315.08 1 $55,000 $55,000
    375.3 1 $65,000 $65,000
    399.89 1 $75,000 $75,000
    552.75 1 $105,000 $105,000
    659.5 1 $15,000 $15,000
    NA 404 $75,590,000 $187,104

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 2 $380,000 $190,000
    Multifamily:Site-Built 7 $6,955,000 $993,571
    Single Family (1-4 Units):Manufactured 49 $3,035,000 $61,939
    Single Family (1-4 Units):Site-Built 361 $65,865,000 $182,452

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 15 $1,255,000 $83,667 $2,201 5.95%
    40-60% 45 $6,615,000 $147,000 $2,540 5.87%
    60-80% 122 $23,600,000 $193,443 $3,166 5.23%
    80-100% 214 $40,450,000 $189,019 $3,719 4.67%
    Over 100% 16 $3,350,000 $209,375 $6,280 4.57%
    Under 20% 4 $240,000 $60,000 $1,525 6.84%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Troy Bank & Trust Company 1000 Highway 231 South Troy, AL 36081 Full Service B&M $545,291
    Troy Bank & Trust Company 108 Mckinnon Street New Brockton, AL 36351 Full Service B&M $12,382
    Troy Bank & Trust Company 1110 North Boll Weevil Circle, Suite C Enterprise, AL 36330 Full Service B&M $30,235
    Troy Bank & Trust Company 1429 Highway 231 South Troy, AL 36081 Full Service B&M $28,843
    Troy Bank & Trust Company 2701 Frederick Road, Suite 101 Opelika, AL 36801 Full Service B&M $9,046
    Troy Bank & Trust Company 300 North Three Notch Street Troy, AL 36081 Full Service B&M $11,255
    Troy Bank & Trust Company 301 Greenville Avenue Goshen, AL 36035 Full Service B&M $2,575
    Troy Bank & Trust Company 425 S.A. Graham Boulevard Brundidge, AL 36010 Full Service B&M $26,264
    Troy Bank & Trust Company 429 North Claxton Avenue Elba, AL 36323 Full Service B&M $57,368
    Troy Bank & Trust Company 4971 West Main Street Dothan, AL 36305 Full Service B&M $68,210
    Troy Bank & Trust Company 6 Atlantic Street Ariton, AL 36311 Full Service B&M $7,418

    For 2019, Troy Bank And Trust Company had 11 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $40,914
    Net interest income $30,546
    Total noninterest income $5,478
    Gross Fiduciary activities income $735
    Service charges on deposit accounts $1,988
    Trading account gains and fees $0
    Additional Noninterest Income $2,755
    Pre-tax net operating income $11,704
    Securities gains (or losses, -) $1
    Income before extraordinary items $9,529
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $9,529
    Minority interest net income $0
    Net income $9,529
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $9,528

    Troy Bank And Trust Company's gross interest income from loans was $40,914,000.
    Troy Bank And Trust Company's net interest income from loans was $30,546,000.
    Troy Bank And Trust Company's fee based income from loans was $1,988,000.
    Troy Bank And Trust Company's net income from loans was $9,529,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $10,368
    Provision for credit losses $550
    Total noninterest expense $23,770
    Salaries and employee benefits $13,390
    Premises and equipment expense $1,435
    Additional noninterest expense $8,945
    Applicable income taxes $2,176
    Net charge-offs $1,106
    Cash dividends $8,016

    Troy Bank And Trust Company's interest expense for loans was $10,368,000.
    Troy Bank And Trust Company's payroll and benefits expense were $13,390,000.
    Troy Bank And Trust Company's property, plant and equipment expenses $1,435,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 1.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 2.0%
    All other family 1.0%
    Commercial & industrial loans 0.0%
    Personal loans 1.0%
    Credit card loans 0.0%
    Other individual loans 1.0%
    Auto loans 1.0%
    Other consumer loans 1.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $782,063
    Deposits held in domestic offices $782,063
    Deposits by Individuals, partnerships, and corporations $675,983
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $106,080
    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 $8,762
    Demand deposits $7,992
    Nontransaction accounts $773,301
    Money market deposit accounts (MMDAs) $490,889
    Other savings deposits (excluding MMDAs) $51,187
    Total time deposits $231,223
    Total time and savings deposits $774,071
    Noninterest-bearing deposits $8,762
    Interest-bearing deposits $773,301
    Retail deposits $647,562
    IRAs and Keogh plan accounts $18,742
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $898,839
    Cash & Balances due from depository institutions $84,116
    Interest-bearing balances $69,598
    Total securities $216,750
    Federal funds sold & reverse repurchase $1
    Net loans and leases $554,019
    Loan and leases loss allowance $8,070
    Trading account assets $0
    Bank premises and fixed assets $10,395
    Other real estate owned $4,497
    Goodwill and other intangibles $2,892
    All other assets $26,169

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $898,839
    Total Liabilities $790,483
    Total deposits $782,063
    Interest-bearing deposits $773,301
    Deposits held in domestic offices $782,063
    % insured (estimated) $53
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $8,420

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $554,019
    Loan and leases loss allowance $8,070
    Total loans and leases (domestic) $562,089
    All real estate loans $410,865
    Real estate loans in domestic offices $410,865
    Construction and development loans $71,289
    Residential 1-4 family construction $9,011
    Other construction, all land development and other land $62,278
    Loans secured by nonfarm nonresidential properties $136,113
    Nonfarm nonresidential secured by owner-occupied properties $75,825
    Commercial real estate & other non-farm, non-residential $60,288
    Multifamily residential real estate $22,104
    1-4 family residential loans $154,510
    Farmland loans $26,849
    Loans held in foreign offices $0
    Farm loans $9,491
    Commercial and industrial loans $100,214
    To non-U.S. addressees $0
    Loans to individuals $26,321
    Credit card loans $0
    Related Plans $5,927
    Consumer Auto Loans $4,273
    Other loans to individuals $16,121
    All other loans & leases $15,198
    Loans to foreign governments and official institutions $0
    Other loans $227
    Loans to depository institutions and acceptances of other banks $2,997
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $2,095
    Restructured Loans & leases $4,826
    Non 1-4 family restructured loans & leases $4,460
    Total loans and leases (foreign) $0

    Troy Bank and Trust Company had $554,019,000 of loans outstanding in 2019. $410,865,000 of loans were in real estate loans. $71,289,000 of loans were in development loans. $22,104,000 of loans were in multifamily mortgage loans. $154,510,000 of loans were in 1-4 family mortgage loans. $9,491,000 of loans were in farm loans. $0 of loans were in credit card loans. $4,273,000 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 325 $54,416 $167,434
    Nonfarm, nonresidential loans - <$100k 102 $4,790 $46,961
    Nonfarm, nonresidential loans - $100-250k 118 $13,467 $114,127
    Nonfarm, nonresidential loans - $250k-1MM 105 $36,159 $344,371
    Commercial & Industrial, US addressed loans - <$1MM 780 $55,327 $70,932
    Commercial & Industrial, US addressed loans - <$100k 549 $11,803 $21,499
    Commercial & Industrial, US addressed loans - $100-250k 118 $13,232 $112,136
    Commercial & Industrial, US addressed loans - $250k-1MM 113 $30,292 $268,071
    Farmland loans - <$1MM 189 $21,516 $113,841
    Farmland loans - <$100k 93 $3,304 $35,527
    Farmland loans - $100-250k 55 $5,935 $107,909
    Farmland loans - $250k-1MM 41 $12,277 $299,439
    Agriculture operations loans - <$1MM 268 $9,134 $34,082
    Agriculture operations loans - <$100k 234 $5,071 $21,671
    Agriculture operations loans - $100-250k 30 $3,029 $100,967
    Agriculture operations loans - $250k-1MM 4 $1,034 $258,500