Planters Bank & Trust Company Mortgage Rates, Fees & Info
Indianola, MSLEI: 549300PGV74J5SPHTG47
Tax ID: 64-0223390
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Bank 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: Greenville, Indianola, Greenwood, Memphis, and Cleveland among others. We have data for 18 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% | 11/21/24 |
| 15 Year Conventional Purchase | 5.68% | 11/21/24 |
| 15 Year Conventional Refi | 5.68% | 11/21/24 |
| 15 Year Cash-out Refi | 5.68% | 11/21/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
740Origination Dollar Volume (All Markets)
$62,430,000Employee count
228Top 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 |
|---|---|---|---|---|---|
| Greenville, MS (FHA|USDA|VA) | 277 | $15,675,000 | $56,588 | $213 | 6.88% |
| Indianola, MS (FHA|USDA|VA) | 130 | $9,480,000 | $72,923 | $0 | 6.15% |
| Greenwood, MS (FHA|USDA|VA) | 92 | $8,760,000 | $95,217 | $0 | 5.97% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 72 | $8,660,000 | $120,278 | $0 | 12.18% |
| Cleveland, MS (FHA|USDA|VA) | 96 | $8,610,000 | $89,688 | $0 | 5.97% |
| Outside of Metro Areas | 36 | $4,610,000 | $128,056 | $0 | 6.11% |
| Starkville, MS (FHA|USDA|VA) | 4 | $1,380,000 | $345,000 | $0 | 5.60% |
| JACKSON, MS (FHA|USDA|VA) | 6 | $890,000 | $148,333 | $0 | 5.86% |
| Oxford, MS (FHA|USDA|VA) | 7 | $855,000 | $122,143 | $363 | 5.84% |
| Tupelo, MS (FHA|USDA|VA) | 1 | $805,000 | $805,000 | $0 | 5.80% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $625,000 | $625,000 | $0 | 5.47% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 3 | $605,000 | $201,667 | $0 | 5.91% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $0 | 5.50% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $0 | 6.05% |
| Grenada, MS (FHA|USDA|VA) | 4 | $310,000 | $77,500 | $0 | 6.42% |
| Clarksdale, MS (FHA|USDA|VA) | 6 | $200,000 | $33,333 | $0 | 5.98% |
| Vicksburg, MS (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 5.32% |
| TULSA, OK (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 7.51% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 661 | $56,745,000 | $85,847 | $288 | 7.09% |
| HELOC | 79 | $5,685,000 | $71,962 | n/a | 5.86% |
For 2018, Planters Bank & Trust Company's most frequently originated type of loan was Conventional, with 661 originations. Their 2nd most popular type was HELOC, with 79 originations.
Loan Reason
For 2018, Planters Bank & Trust Company's most frequently cited loan purpose was Refi, with 469 originations. The 2nd most popular reason was Home Purchase, with 189 originations.
Loan Duration/Length
For 2018, Planters Bank & Trust Company's most frequently cited loan duration was Other, with 637 originations. The 2nd most popular length was 1 Year, with 41 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 258 | $22,670,000 | $87,868 |
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 258 originations.
Interest Rates
During 2018, Planters Bank & Trust Company's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 332 originations.
Loan Sizing
2018 saw Planters Bank & Trust Company place emphasis on $100,000 or less loans with 574 originations, totaling $24,610,000 in origination value.
Applicant Income
Planters Bank & Trust Company lent most frequently to those with incomes in the $50k-75k range, with 145 originations. The second most popular income band? $50k or less, with 144 originations.
Applicant Debt to Income Ratio
Planters Bank & Trust Company lent most frequently to those with DTI ratios of 20-30%, with 143 originations. The next most common DTI ratio? <20%, with 111 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.79%
Planters Bank & Trust Company has an average approval rate.
Pick Rate
Approvals leading to origination88.24%
Planters Bank & Trust Company has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 740 | $62,430,000 | $84,365 |
Occupancy Type Mix
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| PLANET HOME LENDING, LLC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 1.9% |
| PLANET HOME LENDING, LLC | Conventional home mortgage | Incorrect information on your report | 1 | 1.9% |
| PLANET HOME LENDING, LLC | Conventional home mortgage | Struggling to pay mortgage | 14 | 26.9% |
| PLANET HOME LENDING, LLC | Conventional home mortgage | Trouble during payment process | 13 | 25.0% |
| PLANET HOME LENDING, LLC | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 3.8% |
| PLANET HOME LENDING, LLC | FHA mortgage | Struggling to pay mortgage | 3 | 5.8% |
| PLANET HOME LENDING, LLC | FHA mortgage | Trouble during payment process | 4 | 7.7% |
| PLANET HOME LENDING, LLC | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 1.9% |
| PLANET HOME LENDING, LLC | Other type of mortgage | Struggling to pay mortgage | 1 | 1.9% |
| PLANET HOME LENDING, LLC | Other type of mortgage | Trouble during payment process | 1 | 1.9% |
| PLANET HOME LENDING, LLC | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 3.8% |
| PLANET HOME LENDING, LLC | VA mortgage | Closing on a mortgage | 2 | 3.8% |
| PLANET HOME LENDING, LLC | VA mortgage | Struggling to pay mortgage | 3 | 5.8% |
| PLANET HOME LENDING, LLC | VA mortgage | Trouble during payment process | 4 | 7.7% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Planters Bank & Trust Company | 100 Quiver Street Sunflower, MS 38778 | Full Service B&M | $6,308 |
| Planters Bank & Trust Company | 1002 Highway 82 East Leland, MS 38756 | Full Service B&M | $58,776 |
| Planters Bank & Trust Company | 1020 South Court Street Tunica, MS 38676 | Full Service B&M | $37,811 |
| Planters Bank & Trust Company | 1130 Highway 6 East Batesville, MS 38606 | Full Service B&M | $17,716 |
| Planters Bank & Trust Company | 116 West Market Street Greenwood, MS 38930 | Full Service B&M | $0 |
| Planters Bank & Trust Company | 118 North Ruby Avenue Ruleville, MS 38771 | Full Service B&M | $66,666 |
| Planters Bank & Trust Company | 130 North Street Cleveland, MS 38732 | Full Service B&M | $0 |
| Planters Bank & Trust Company | 1417 South Main Street Greenville, MS 38701 | Full Service B&M | $0 |
| Planters Bank & Trust Company | 1645 Highway One South Greenville, MS 38701 | Full Service B&M | $0 |
| Planters Bank & Trust Company | 206 Sharkey Avenue Clarksdale, MS 38614 | Full Service B&M | $97,983 |
| Planters Bank & Trust Company | 212 Catchings Street Indianola, MS 38751 | Full Service B&M | $168,878 |
| Planters Bank & Trust Company | 232 Goodman Road Southaven, MS 38671 | Full Service B&M | $19,678 |
| Planters Bank & Trust Company | 428 North Davis Avenue Cleveland, MS 38732 | Full Service B&M | $98,764 |
| Planters Bank & Trust Company | 521 East Early Street Indianola, MS 38751 | Full Service B&M | $0 |
| Planters Bank & Trust Company | 622 South State Street Clarksdale, MS 38614 | Full Service B&M | $0 |
| Planters Bank & Trust Company | 800 East Grand Avenue Inverness, MS 38753 | Full Service B&M | $19,737 |
| Planters Bank & Trust Company | 915 Medallion Drive Greenwood, MS 38930 | Full Service B&M | $127,686 |
| Planters Bank & Trust Company | Highway 49 And West Silver Creek Road Louise, MS 39097 | Full Service B&M | $6,937 |
| Planters Bank & Trust Company | Hinds Street And Washington Avenue Greenville, MS 38701 | Full Service B&M | $191,609 |
For 2018, Planters Bank & Trust Company had 19 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $40,896 |
| Net interest income | $34,131 |
| Total noninterest income | $10,090 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $5,912 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $4,178 |
| Pre-tax net operating income | $14,311 |
| Securities gains (or losses, -) | $201 |
| Income before extraordinary items | $12,162 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $12,162 |
| Minority interest net income | $0 |
| Net income | $12,162 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $11,993 |
Planters Bank & Trust Company's gross interest income from loans was $40,896,000.
Planters Bank & Trust Company's net interest income from loans was $34,131,000.
Planters Bank & Trust Company's fee based income from loans was $5,912,000.
Planters Bank & Trust Company's net income from loans was $12,162,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $6,765 |
| Provision for credit losses | $1,184 |
| Total noninterest expense | $28,726 |
| Salaries and employee benefits | $16,457 |
| Premises and equipment expense | $3,285 |
| Additional noninterest expense | $8,984 |
| Applicable income taxes | $2,350 |
| Net charge-offs | $598 |
| Cash dividends | $6,900 |
Planters Bank & Trust Company's interest expense for loans was $6,765,000.
Planters Bank & Trust Company's payroll and benefits expense were $16,457,000.
Planters Bank & Trust Company's property, plant and equipment expenses $3,285,000.
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 | 0.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 2.0% |
| HELOC loans | 0.0% |
| All other family | 3.0% |
| Commercial & industrial loans | 0.0% |
| Personal loans | 0.0% |
| Credit card loans | 0.0% |
| Other individual loans | 0.0% |
| Auto loans | 0.0% |
| Other consumer loans | 0.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $916,754 |
| Deposits held in domestic offices | $916,754 |
| Deposits by Individuals, partnerships, and corporations | $764,484 |
| Deposits by U.S. Government | $311 |
| Deposits by States and political subdivisions in the U.S. | $151,959 |
| 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 | $52,720 |
| Demand deposits | $39,124 |
| Nontransaction accounts | $864,034 |
| Money market deposit accounts (MMDAs) | $509,949 |
| Other savings deposits (excluding MMDAs) | $57,879 |
| Total time deposits | $296,206 |
| Total time and savings deposits | $877,630 |
| Noninterest-bearing deposits | $39,124 |
| Interest-bearing deposits | $877,630 |
| Retail deposits | $830,418 |
| IRAs and Keogh plan accounts | $38,393 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $1,047,355 |
| Cash & Balances due from depository institutions | $50,053 |
| Interest-bearing balances | $25,789 |
| Total securities | $318,074 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $605,739 |
| Loan and leases loss allowance | $5,000 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $26,021 |
| Other real estate owned | $1,887 |
| Goodwill and other intangibles | $5,857 |
| All other assets | $39,724 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $1,047,355 |
| Total Liabilities | $943,039 |
| Total deposits | $916,754 |
| Interest-bearing deposits | $877,630 |
| Deposits held in domestic offices | $916,754 |
| % insured (estimated) | $65 |
| Federal funds purchased and repurchase agreements | $11 |
| Trading liabilities | $0 |
| Other borrowed funds | $20,910 |
| Subordinated debt | $0 |
| All other liabilities | $5,364 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $605,739 |
| Loan and leases loss allowance | $5,000 |
| Total loans and leases (domestic) | $610,739 |
| All real estate loans | $427,443 |
| Real estate loans in domestic offices | $427,443 |
| Construction and development loans | $43,514 |
| Residential 1-4 family construction | $10,959 |
| Other construction, all land development and other land | $32,555 |
| Loans secured by nonfarm nonresidential properties | $151,733 |
| Nonfarm nonresidential secured by owner-occupied properties | $53,884 |
| Commercial real estate & other non-farm, non-residential | $97,849 |
| Multifamily residential real estate | $13,654 |
| 1-4 family residential loans | $176,569 |
| Farmland loans | $41,973 |
| Loans held in foreign offices | $0 |
| Farm loans | $57,794 |
| Commercial and industrial loans | $93,735 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $23,085 |
| Credit card loans | $0 |
| Related Plans | $597 |
| Consumer Auto Loans | $6,889 |
| Other loans to individuals | $15,599 |
| All other loans & leases | $8,683 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $5,772 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $3,891 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $1,058 |
| Non 1-4 family restructured loans & leases | $837 |
| Total loans and leases (foreign) | $0 |
Planters Bank & Trust Company had $605,739,000 of loans outstanding in 2018. $427,443,000 of loans were in real estate loans. $43,514,000 of loans were in development loans. $13,654,000 of loans were in multifamily mortgage loans. $176,569,000 of loans were in 1-4 family mortgage loans. $57,794,000 of loans were in farm loans. $0 of loans were in credit card loans. $6,889,000 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 | 520 | $73,800 | $141,923 |
| Nonfarm, nonresidential loans - <$100k | 259 | $9,987 | $38,560 |
| Nonfarm, nonresidential loans - $100-250k | 146 | $18,733 | $128,308 |
| Nonfarm, nonresidential loans - $250k-1MM | 115 | $45,080 | $392,000 |
| Commercial & Industrial, US addressed loans - <$1MM | 1,950 | $64,461 | $33,057 |
| Commercial & Industrial, US addressed loans - <$100k | 1,748 | $29,003 | $16,592 |
| Commercial & Industrial, US addressed loans - $100-250k | 134 | $14,863 | $110,918 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 68 | $20,595 | $302,868 |
| Farmland loans - <$1MM | 130 | $16,450 | $126,538 |
| Farmland loans - <$100k | 49 | $2,167 | $44,224 |
| Farmland loans - $100-250k | 47 | $5,779 | $122,957 |
| Farmland loans - $250k-1MM | 34 | $8,504 | $250,118 |
| Agriculture operations loans - <$1MM | 290 | $19,507 | $67,266 |
| Agriculture operations loans - <$100k | 187 | $4,389 | $23,471 |
| Agriculture operations loans - $100-250k | 51 | $4,784 | $93,804 |
| Agriculture operations loans - $250k-1MM | 52 | $10,334 | $198,731 |