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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  • SimulatedRates™
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    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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: Troy, Dothan, Enterprise, Panama City, and Montgomery among others. We have data for 14 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% 9/1/24
    30 Year Conventional Refi 6.27% 9/1/24
    30 Year FHA Purchase 6.27% 9/1/24
    30 Year USDA Purchase 6.27% 9/1/24
    15 Year Conventional Purchase 9.94% 9/1/24
    15 Year Conventional Refi 7.01% 9/1/24
    15 Year Cash-out Refi 7.01% 9/1/24
    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

    205

    Origination Dollar Volume (All Markets)

    $46,645,000

    Employee count

    163

    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
    Troy, AL (FHA|USDA|VA) 80 $23,040,000 $288,000 $2,752 5.89%
    DOTHAN, AL (FHA|USDA|VA) 37 $7,175,000 $193,919 $3,109 4.92%
    Enterprise, AL (FHA|USDA|VA) 34 $6,460,000 $190,000 $2,791 6.12%
    PANAMA CITY, FL (FHA|USDA|VA) 8 $1,680,000 $210,000 $4,102 4.88%
    MONTGOMERY, AL (FHA|USDA|VA) 11 $1,315,000 $119,545 $2,308 6.76%
    COLUMBUS, GA-AL (FHA|USDA|VA) 5 $1,265,000 $253,000 $13,410 5.00%
    Ozark, AL (FHA|USDA|VA) 6 $1,200,000 $200,000 $2,347 5.69%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 2 $1,090,000 $545,000 $3,118 3.75%
    AUBURN-OPELIKA, AL (FHA|USDA|VA) 4 $1,030,000 $257,500 $4,112 5.34%
    Outside of Metro Areas 11 $905,000 $82,273 $2,457 6.20%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $555,000 $555,000 $8,990 4.38%
    Eufaula, AL-GA (FHA|USDA|VA) 4 $390,000 $97,500 $3,238 6.28%
    SPRINGFIELD, MO (FHA|USDA|VA) 1 $355,000 $355,000 $5,760 5.25%
    Alexander City, AL (FHA|USDA|VA) 1 $185,000 $185,000 $1,680 5.13%
    Troy Bank And Trust Company's top markets include Troy, Dothan, Enterprise, Panama City, and Montgomery among others.

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

    BankPlus
    Similarity Rank: 248
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    Similarity Rank: 324
    Five Star Credit Union
    Similarity Rank: 468
    ServisFirst Bank
    Similarity Rank: 520
    APCO EMPLOYEES
    Similarity Rank: 896
    Tyndall Federal Credit Union
    Similarity Rank: 1152
    Hamilton Mortgage Corporation
    Similarity Rank: 2142
    CROSSCOUNTRY MORTGAGE, LLC
    Similarity Rank: 3052
    MORTGAGE INVESTORS GROUP, INC.
    Similarity Rank: 4200
    Synovus Bank
    Similarity Rank: 5004

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 205 $46,645,000 $227,537 $3,034 5.71%

    For 2020, Troy Bank And Trust Company's most frequently originated type of loan was Conventional, with 205 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 135 $24,805,000 $183,741 $2,925 5.66%
    Refi 60 $20,650,000 $344,167 $3,253 5.79%
    Home Improvement 10 $1,190,000 $119,000 $2,431 5.93%

    For 2020, Troy Bank And Trust Company's most frequently cited loan purpose was Home Purchase, with 135 originations. The 2nd most popular reason was Refi, with 60 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 76 $15,370,000 $202,237 $2,821 5.39%
    15 Year 41 $6,505,000 $158,659 $3,003 6.23%
    1 Year 27 $4,575,000 $169,444 $3,817 5.64%
    30 Year 19 $6,095,000 $320,789 $3,395 4.62%
    Other 19 $11,335,000 $596,579 $3,155 5.81%
    10 Year 18 $940,000 $52,222 $1,739 7.14%
    5 Year 5 $1,825,000 $365,000 $1,243 5.30%

    For 2020, Troy Bank And Trust Company's most frequently cited loan duration was 20 Year, with 76 originations. The 2nd most popular length was 15 Year, with 41 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 49 $6,005,000 $122,551
    $1k-2k 32 $5,130,000 $160,313
    $2k-3k 12 $2,860,000 $238,333
    $3k-4k 7 $2,315,000 $330,714
    $5k+ 3 $2,075,000 $691,667
    $4k-5k 1 $375,000 $375,000

    Troy Bank And Trust Company's average total fees were $3,395, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 49 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 73 $24,205,000 $331,575
    5-6% 58 $7,920,000 $136,552
    6-7% 25 $2,385,000 $95,400
    Over 8% 23 $1,055,000 $45,870
    3-4% 15 $10,065,000 $671,000
    7-8% 11 $1,015,000 $92,273

    During 2020, Troy Bank And Trust Company's average interest rate for loans was 4.62%, while their most frequently originated rate bucket for loans was 4-5%, with 73 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 85 $4,475,000 $52,647 $2,004 6.74%
    $100k-200k 57 $8,015,000 $140,614 $3,007 5.28%
    $200k-400k 42 $11,680,000 $278,095 $3,715 4.94%
    $400k-600k 9 $4,265,000 $473,889 $4,534 4.41%
    $600k-1MM 7 $5,325,000 $760,714 $8,207 4.15%
    $1MM+ 5 $12,885,000 $2,577,000 $0 4.12%

    2020 saw Troy Bank And Trust Company place emphasis on $100,000 or less loans with 85 originations, totaling $4,475,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 40 $3,130,000 $78,250 $2,252 6.87%
    $100k-150k 36 $5,770,000 $160,278 $3,072 5.89%
    $75k-100k 26 $4,720,000 $181,538 $3,504 5.47%
    $50k-75k 19 $1,925,000 $101,316 $2,180 6.81%
    $250k+ 15 $5,155,000 $343,667 $5,118 4.69%
    $150k-250k 14 $3,380,000 $241,429 $3,730 5.21%

    Troy Bank And Trust Company lent most frequently to those with incomes in the $50k or less range, with 40 originations. The second most popular income band? $100k-150k, with 36 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 30 $4,530,000 $151,000 $2,542 6.91%
    <20% 28 $5,960,000 $212,857 $3,448 5.95%
    30-36% 16 $2,690,000 $168,125 $3,634 6.32%
    50-60% 10 $1,270,000 $127,000 $2,201 6.29%
    40% 5 $625,000 $125,000 $2,902 6.00%
    37% 5 $1,105,000 $221,000 $3,080 5.98%
    38% 4 $990,000 $247,500 $5,065 4.88%
    36% 4 $440,000 $110,000 $1,854 6.59%
    >60% 3 $835,000 $278,333 $5,360 5.63%
    43% 3 $275,000 $91,667 $2,471 5.50%
    41% 2 $90,000 $45,000 $1,531 7.19%
    42% 2 $150,000 $75,000 $2,482 6.50%
    45% 1 $185,000 $185,000 $1,680 5.13%
    46% 1 $245,000 $245,000 $1,988 5.38%
    39% 1 $145,000 $145,000 $3,502 5.50%
    49% 1 $95,000 $95,000 $2,625 5.50%
    47% 1 $125,000 $125,000 $2,958 5.25%
    44% 1 $195,000 $195,000 $2,215 6.25%

    Troy Bank And Trust Company lent most frequently to those with DTI ratios of 20-30%, with 30 originations. The next most common DTI ratio? <20%, with 28 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 141 $23,965,000 $169,965 $3,029 5.93%
    Not applicable 48 $21,110,000 $439,792 $0 4.81%
    Black 15 $1,355,000 $90,333 $2,925 6.58%
    Not provided 1 $215,000 $215,000 $4,362 5.75%

    Approval Rates

    Total approvals of all applications
    97.72%

    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
    95.61%

    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
    0.0 1 $35,000 $35,000
    213.0 1 $35,000 $35,000
    217.25 2 $30,000 $15,000
    251.0 1 $35,000 $35,000
    256.0 1 $25,000 $25,000
    263.5 1 $25,000 $25,000
    296.25 1 $15,000 $15,000
    298.95 1 $55,000 $55,000
    326.66 1 $55,000 $55,000
    NA 195 $46,335,000 $237,615

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 5 $2,965,000 $593,000
    Multifamily:Site-Built 11 $12,445,000 $1,131,364
    Single Family (1-4 Units):Manufactured 41 $2,865,000 $69,878
    Single Family (1-4 Units):Site-Built 148 $28,370,000 $191,689

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 8 $2,100,000 $262,500 $2,550 6.09%
    40-60% 39 $7,225,000 $185,256 $3,006 5.62%
    60-80% 77 $16,045,000 $208,377 $3,451 5.82%
    80-100% 75 $20,185,000 $269,133 $2,922 5.60%
    Over 100% 2 $390,000 $195,000 $1,401 6.38%
    Under 20% 4 $700,000 $175,000 $2,048 5.50%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    THRIVE MORTGAGE, LLC Conventional home mortgage Closing on a mortgage 2 28.6%
    THRIVE MORTGAGE, LLC FHA mortgage Applying for a mortgage or refinancing an existing mortgage 3 42.9%
    THRIVE MORTGAGE, LLC FHA mortgage Closing on a mortgage 1 14.3%
    THRIVE MORTGAGE, LLC Other type of mortgage Closing on a mortgage 1 14.3%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Troy Bank & Trust Company 300 North Three Notch Street Troy, AL 36081 Full Service B&M $14,850
    Troy Bank & Trust Company 1000 Highway 231 South Troy, AL 36081 Full Service B&M $558,553
    Troy Bank & Trust Company 108 Mckinnon Street New Brockton, AL 36351 Full Service B&M $14,193
    Troy Bank & Trust Company 1110 North Boll Weevil Circle, Suite C Enterprise, AL 36330 Full Service B&M $38,317
    Troy Bank & Trust Company 1429 Highway 231 South Troy, AL 36081 Full Service B&M $35,758
    Troy Bank & Trust Company 2701 Frederick Road, Suite 101 Opelika, AL 36801 Full Service B&M $12,516
    Troy Bank & Trust Company 301 Greenville Avenue Goshen, AL 36035 Full Service B&M $2,419
    Troy Bank & Trust Company 425 S.A. Graham Boulevard Brundidge, AL 36010 Full Service B&M $28,217
    Troy Bank & Trust Company 429 North Claxton Avenue Elba, AL 36323 Full Service B&M $64,873
    Troy Bank & Trust Company 4971 West Main Street Dothan, AL 36305 Full Service B&M $73,582
    Troy Bank & Trust Company 6 Atlantic Street Ariton, AL 36311 Full Service B&M $7,679

    For 2020, Troy Bank And Trust Company had 11 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $38,832
    Net interest income $31,636
    Total noninterest income $7,648
    Gross Fiduciary activities income $673
    Service charges on deposit accounts $1,610
    Trading account gains and fees $0
    Additional Noninterest Income $5,365
    Pre-tax net operating income $11,019
    Securities gains (or losses, -) $210
    Income before extraordinary items $9,143
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $9,143
    Minority interest net income $0
    Net income $9,143
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $8,972

    Troy Bank And Trust Company's gross interest income from loans was $38,832,000.
    Troy Bank And Trust Company's net interest income from loans was $31,636,000.
    Troy Bank And Trust Company's fee based income from loans was $1,610,000.
    Troy Bank And Trust Company's net income from loans was $9,143,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $7,196
    Provision for credit losses $1,775
    Total noninterest expense $26,490
    Salaries and employee benefits $15,100
    Premises and equipment expense $1,585
    Additional noninterest expense $9,805
    Applicable income taxes $2,086
    Net charge-offs $1,006
    Cash dividends $1,702

    Troy Bank And Trust Company's interest expense for loans was $7,196,000.
    Troy Bank And Trust Company's payroll and benefits expense were $15,100,000.
    Troy Bank And Trust Company's property, plant and equipment expenses $1,585,000.

    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 2.0%
    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 0.0%
    Other consumer loans 1.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $1,017,976
    Deposits held in domestic offices $1,017,976
    Deposits by Individuals, partnerships, and corporations $871,511
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $146,465
    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 $49,884
    Demand deposits $12,336
    Nontransaction accounts $968,092
    Money market deposit accounts (MMDAs) $654,260
    Other savings deposits (excluding MMDAs) $71,695
    Total time deposits $242,137
    Total time and savings deposits $1,005,640
    Noninterest-bearing deposits $26,640
    Interest-bearing deposits $991,336
    Retail deposits $883,674
    IRAs and Keogh plan accounts $20,491
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,146,956
    Cash & Balances due from depository institutions $134,594
    Interest-bearing balances $107,533
    Total securities $284,483
    Federal funds sold & reverse repurchase $21,600
    Net loans and leases $650,778
    Loan and leases loss allowance $8,838
    Trading account assets $0
    Bank premises and fixed assets $11,833
    Other real estate owned $4,519
    Goodwill and other intangibles $6,924
    All other assets $32,225

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,146,956
    Total Liabilities $1,029,300
    Total deposits $1,017,976
    Interest-bearing deposits $991,336
    Deposits held in domestic offices $1,017,976
    % insured (estimated) $42
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $11,324

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $650,778
    Loan and leases loss allowance $8,838
    Total loans and leases (domestic) $659,616
    All real estate loans $451,462
    Real estate loans in domestic offices $451,462
    Construction and development loans $85,232
    Residential 1-4 family construction $15,386
    Other construction, all land development and other land $69,846
    Loans secured by nonfarm nonresidential properties $148,232
    Nonfarm nonresidential secured by owner-occupied properties $84,006
    Commercial real estate & other non-farm, non-residential $64,226
    Multifamily residential real estate $26,518
    1-4 family residential loans $157,952
    Farmland loans $33,528
    Loans held in foreign offices $0
    Farm loans $12,551
    Commercial and industrial loans $138,602
    To non-U.S. addressees $0
    Loans to individuals $25,696
    Credit card loans $0
    Related Plans $5,795
    Consumer Auto Loans $4,643
    Other loans to individuals $15,258
    All other loans & leases $31,305
    Loans to foreign governments and official institutions $0
    Other loans $211
    Loans to depository institutions and acceptances of other banks $4,496
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $1,745
    Restructured Loans & leases $4,615
    Non 1-4 family restructured loans & leases $4,055
    Total loans and leases (foreign) $0

    Troy Bank and Trust Company had $650,778,000 of loans outstanding in 2020. $451,462,000 of loans were in real estate loans. $85,232,000 of loans were in development loans. $26,518,000 of loans were in multifamily mortgage loans. $157,952,000 of loans were in 1-4 family mortgage loans. $12,551,000 of loans were in farm loans. $0 of loans were in credit card loans. $4,643,000 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 364 $65,617 $180,266
    Nonfarm, nonresidential loans - <$100k 121 $5,565 $45,992
    Nonfarm, nonresidential loans - $100-250k 129 $15,820 $122,636
    Nonfarm, nonresidential loans - $250k-1MM 114 $44,232 $388,000
    Commercial & Industrial, US addressed loans - <$1MM 1,194 $81,985 $68,664
    Commercial & Industrial, US addressed loans - <$100k 915 $20,849 $22,786
    Commercial & Industrial, US addressed loans - $100-250k 155 $18,788 $121,213
    Commercial & Industrial, US addressed loans - $250k-1MM 124 $42,348 $341,516
    Farmland loans - <$1MM 214 $19,013 $88,846
    Farmland loans - <$100k 124 $4,833 $38,976
    Farmland loans - $100-250k 57 $5,561 $97,561
    Farmland loans - $250k-1MM 33 $8,619 $261,182
    Agriculture operations loans - <$1MM 339 $11,922 $35,168
    Agriculture operations loans - <$100k 294 $6,619 $22,514
    Agriculture operations loans - $100-250k 34 $3,364 $98,941
    Agriculture operations loans - $250k-1MM 11 $1,939 $176,273