Planters Bank & Trust Company Mortgage Rates, Fees & Info
Indianola, MSLEI: 549300PGV74J5SPHTG47
Tax ID: 64-0223390
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Mortgage Data
Review & Overview
Planters Bank & Trust Company is a smaller bank specializing in Refi and Home Purchase loans. Planters Bank & Trust Company has a high proportion of conventional loans. Their top markets by origination volume include: Memphis, Greenville, New Orleans, Indianola, and Cleveland among others. We have data for 24 markets. (Some data included below & more in-depth data is available with an active subscription.)Planters Bank & Trust Company has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. They typically have relatively high 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.72% | 4/5/25 |
| 30 Year Conventional Refi | 6.72% | 4/5/25 |
| 30 Year Cash-out Refi | 6.72% | 4/5/25 |
| 30 Year FHA Purchase | 6.72% | 4/5/25 |
| 30 Year USDA Purchase | 6.72% | 4/5/25 |
| 15 Year Conventional Purchase | 6.00% | 4/5/25 |
| 15 Year Conventional Refi | 6.00% | 4/5/25 |
| 15 Year Cash-out Refi | 6.00% | 4/5/25 |
| 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. | ||
Planters Bank & Trust Company Mortgage Calculator
Your Estimates
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This is not an official calculator from Planters Bank & Trust Company. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
407Origination Dollar Volume (All Markets)
$52,065,000Relative Rate
Planters Bank & Trust Company's average 30 year fixed mortgage rate was
8.25%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 1.7%.
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 |
|---|---|---|---|---|---|
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 53 | $12,395,000 | $233,868 | $0 | 8.34% |
| Greenville, MS (FHA|USDA|VA) | 125 | $8,555,000 | $68,440 | $0 | 9.03% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 18 | $7,810,000 | $433,889 | $0 | 8.53% |
| Indianola, MS (FHA|USDA|VA) | 69 | $4,415,000 | $63,986 | $0 | 8.84% |
| Cleveland, MS (FHA|USDA|VA) | 48 | $4,150,000 | $86,458 | $0 | 8.85% |
| Outside of Metro Areas | 31 | $3,835,000 | $123,710 | $0 | 8.78% |
| Oxford, MS (FHA|USDA|VA) | 10 | $3,000,000 | $300,000 | $0 | 8.43% |
| Greenwood, MS (FHA|USDA|VA) | 26 | $2,410,000 | $92,692 | $0 | 8.82% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $1,105,000 | $1,105,000 | $0 | 8.00% |
| JACKSON, MS (FHA|USDA|VA) | 5 | $765,000 | $153,000 | $0 | 8.64% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $0 | 8.25% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $0 | 8.00% |
| Clarksdale, MS (FHA|USDA|VA) | 5 | $435,000 | $87,000 | $0 | 8.56% |
| BATON ROUGE, LA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 8.63% |
| Columbus, MS (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $0 | 8.71% |
| OCALA, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 8.00% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 8.48% |
| Grenada, MS (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $0 | 8.79% |
| Starkville, MS (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 8.75% |
| Sevierville, TN (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 7.75% |
| HAMMOND, LA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 8.00% |
| Tupelo, MS (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 8.55% |
| LAKE CHARLES, LA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 8.76% |
| TULSA, OK (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 8.86% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 407 | $52,065,000 | $127,924 | $0 | 8.78% |
For 2024, Planters Bank & Trust Company's most frequently originated type of loan was Conventional, with 407 originations.
Loan Reason
For 2024, Planters Bank & Trust Company's most frequently cited loan purpose was Refi, with 208 originations. The 2nd most popular reason was Home Purchase, with 138 originations.
Loan Duration/Length
For 2024, Planters Bank & Trust Company's most frequently cited loan duration was 5 Year, with 333 originations. The 2nd most popular length was Other, with 31 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 205 | $19,275,000 | $94,024 |
Planters Bank & Trust Company's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 205 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 358 | $40,280,000 | $112,514 |
| 7-8% | 49 | $11,785,000 | $240,510 |
During 2024, Planters Bank & Trust Company's average interest rate for loans was 8.25%, while their most frequently originated rate bucket for loans was Over 8%, with 358 originations.
Loan Sizing
2024 saw Planters Bank & Trust Company place emphasis on $100,000 or less loans with 263 originations, totaling $12,555,000 in origination value.
Applicant Income
Planters Bank & Trust Company lent most frequently to those with incomes in the $50k-75k range, with 74 originations. The second most popular income band? $50k or less, with 70 originations.
Applicant Debt to Income Ratio
Planters Bank & Trust Company lent most frequently to those with DTI ratios of 20-30%, with 63 originations. The next most common DTI ratio? <20%, with 57 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications86.53%
Planters Bank & Trust Company has an average approval rate.
Pick Rate
Approvals leading to origination87.96%
Planters Bank & Trust Company has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 407 | $52,065,000 | $127,924 |