Planters Bank & Trust Company Mortgage Rates, Fees & Info

Indianola, MS

LEI: 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: New Orleans, Greenville, Atlanta, Memphis, and Cleveland among others. We have data for 20 markets. (Some data included below & more in-depth data is available with an active subscription.)

Planters Bank & Trust Company has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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 6.27% 6/23/24
15 Year Conventional Purchase 5.68% 6/23/24
15 Year Conventional Refi 5.68% 6/23/24
15 Year Cash-out Refi 5.68% 6/23/24
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.

Planters Bank & Trust Company Mortgage Calculator






Your Estimates

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

This is not an official calculator from Planters Bank & 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

487

Origination Dollar Volume (All Markets)

$80,955,000

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
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 22 $21,490,000 $976,818 $0 7.99%
Greenville, MS (FHA|USDA|VA) 171 $12,155,000 $71,082 $0 8.56%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $11,545,000 $11,545,000 $0 7.25%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 63 $9,945,000 $157,857 $0 8.00%
Cleveland, MS (FHA|USDA|VA) 68 $7,350,000 $108,088 $0 8.29%
Indianola, MS (FHA|USDA|VA) 71 $5,265,000 $74,155 $0 8.26%
Outside of Metro Areas 26 $4,610,000 $177,308 $0 8.13%
Greenwood, MS (FHA|USDA|VA) 38 $3,990,000 $105,000 $0 8.22%
Starkville, MS (FHA|USDA|VA) 5 $1,115,000 $223,000 $0 7.82%
JACKSON, MS (FHA|USDA|VA) 5 $775,000 $155,000 $0 7.51%
GULFPORT-BILOXI, MS (FHA|USDA|VA) 1 $575,000 $575,000 $0 7.23%
Oxford, MS (FHA|USDA|VA) 3 $475,000 $158,333 $0 7.90%
BATON ROUGE, LA (FHA|USDA|VA) 1 $275,000 $275,000 $0 7.25%
Clarksdale, MS (FHA|USDA|VA) 6 $260,000 $43,333 $0 8.92%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $255,000 $255,000 $0 7.00%
ASHEVILLE, NC (FHA|USDA|VA) 1 $235,000 $235,000 $0 8.48%
Picayune, MS (FHA|USDA|VA) 1 $215,000 $215,000 $0 7.36%
HAMMOND, LA (FHA|USDA|VA) 1 $215,000 $215,000 $0 8.50%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $175,000 $175,000 $0 8.25%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $35,000 $35,000 $0 7.75%
Planters Bank & Trust Company's top markets include New Orleans, Greenville, Atlanta, Memphis, and Cleveland among others.

Their top states include:
  • Mississippi (FHA|USDA|VA)
  • Louisiana (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 487 $80,955,000 $166,232 $0 8.29%

    For 2023, Planters Bank & Trust Company's most frequently originated type of loan was Conventional, with 487 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 267 $32,315,000 $121,030 $0 8.53%
    Home Purchase 157 $44,195,000 $281,497 $0 7.92%
    Home Improvement 45 $2,475,000 $55,000 $0 8.41%
    Other 18 $1,970,000 $109,444 $0 7.85%

    For 2023, Planters Bank & Trust Company's most frequently cited loan purpose was Refi, with 267 originations. The 2nd most popular reason was Home Purchase, with 157 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    5 Year 370 $54,610,000 $147,595 $0 8.29%
    Other 60 $5,860,000 $97,667 $0 8.33%
    1 Year 19 $3,675,000 $193,421 $0 8.60%
    3 Year 15 $2,025,000 $135,000 $0 8.09%
    10 Year 12 $12,320,000 $1,026,667 $0 8.24%
    20 Year 8 $2,020,000 $252,500 $0 8.09%
    15 Year 3 $445,000 $148,333 $0 7.83%

    For 2023, Planters Bank & Trust Company's most frequently cited loan duration was 5 Year, with 370 originations. The 2nd most popular length was Other, with 60 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 227 $24,665,000 $108,656
    $5k+ 1 $1,855,000 $1,855,000

    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 227 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 282 $34,610,000 $122,730
    7-8% 160 $38,000,000 $237,500
    6-7% 44 $8,300,000 $188,636
    5-6% 1 $45,000 $45,000

    During 2023, Planters Bank & Trust Company's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 282 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 309 $13,865,000 $44,871 $0 8.49%
    $100k-200k 100 $14,040,000 $140,400 $0 8.05%
    $200k-400k 52 $14,460,000 $278,077 $0 7.81%
    $600k-1MM 10 $7,660,000 $766,000 $0 7.71%
    $1MM+ 9 $27,165,000 $3,018,333 $0 8.08%
    $400k-600k 7 $3,765,000 $537,857 $0 7.97%

    2023 saw Planters Bank & Trust Company place emphasis on $100,000 or less loans with 309 originations, totaling $13,865,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 85 $3,405,000 $40,059 $0 8.54%
    $100k-150k 74 $6,930,000 $93,649 $0 8.33%
    $50k-75k 64 $4,200,000 $65,625 $0 8.35%
    $150k-250k 54 $8,060,000 $149,259 $0 7.88%
    $75k-100k 54 $4,670,000 $86,481 $0 8.41%
    $250k+ 48 $10,750,000 $223,958 $0 7.88%

    Planters Bank & Trust Company lent most frequently to those with incomes in the $50k or less range, with 85 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
    20-30% 90 $8,000,000 $88,889 $0 8.15%
    30-36% 57 $4,505,000 $79,035 $0 8.16%
    <20% 54 $5,060,000 $93,704 $0 8.03%
    >60% 49 $4,415,000 $90,102 $0 8.63%
    50-60% 32 $4,030,000 $125,938 $0 8.52%
    41% 12 $1,140,000 $95,000 $0 8.38%
    47% 12 $2,170,000 $180,833 $0 8.49%
    37% 10 $1,710,000 $171,000 $0 8.34%
    42% 10 $1,240,000 $124,000 $0 7.93%
    38% 9 $1,625,000 $180,556 $0 7.71%
    39% 9 $1,025,000 $113,889 $0 8.31%
    44% 8 $730,000 $91,250 $0 8.37%
    40% 7 $295,000 $42,143 $0 9.09%
    43% 7 $515,000 $73,571 $0 7.67%
    49% 6 $600,000 $100,000 $0 8.80%
    46% 5 $375,000 $75,000 $0 8.56%
    45% 5 $395,000 $79,000 $0 8.88%
    48% 3 $585,000 $195,000 $0 7.71%
    36% 1 $55,000 $55,000 $0 9.00%

    Planters Bank & Trust Company lent most frequently to those with DTI ratios of 20-30%, with 90 originations. The next most common DTI ratio? 30-36%, with 57 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 99 $42,215,000 $426,414 $0 8.39%
    White 193 $25,905,000 $134,223 $0 8.00%
    Black 158 $8,530,000 $53,987 $0 8.64%
    Not provided 25 $2,825,000 $113,000 $0 7.93%
    Asian Indian 7 $825,000 $117,857 $0 8.46%
    Asian 5 $655,000 $131,000 $0 8.49%

    Approval Rates

    Total approvals of all applications
    90.40%

    Planters Bank & Trust Company has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.73%

    Planters Bank & Trust Company has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 487 $80,955,000 $166,232

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    487 $80,955,000 $166,232

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 67 $3,785,000 $56,493 $0 8.37%
    40-60% 128 $15,730,000 $122,891 $0 8.38%
    60-80% 185 $48,395,000 $261,595 $0 8.31%
    80-100% 68 $11,330,000 $166,618 $0 8.01%
    Over 100% 3 $325,000 $108,333 $0 9.13%
    Under 20% 36 $1,390,000 $38,611 $0 8.23%