Planters Bank & Trust Company Mortgage Rates, Fees & Info
Indianola, MSLEI: 549300PGV74J5SPHTG47
Tax ID: 64-0223390
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
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, Cleveland, Indianola, Greenwood, and Memphis among others. We have data for 15 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.
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.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 5/4/24 |
| 15 Year Conventional Purchase | 5.68% | 5/4/24 |
| 15 Year Conventional Refi | 5.68% | 5/4/24 |
| 15 Year Cash-out Refi | 5.68% | 5/4/24 |
| 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
525Origination Dollar Volume (All Markets)
$41,435,000Employee count
227Top 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) | 189 | $10,665,000 | $56,429 | $0 | 6.61% |
| Cleveland, MS (FHA|USDA|VA) | 77 | $7,385,000 | $95,909 | $0 | 5.95% |
| Indianola, MS (FHA|USDA|VA) | 97 | $5,815,000 | $59,948 | $0 | 6.05% |
| Greenwood, MS (FHA|USDA|VA) | 74 | $5,440,000 | $73,514 | $0 | 5.93% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 28 | $3,580,000 | $127,857 | $0 | 5.78% |
| Outside of Metro Areas | 32 | $3,220,000 | $100,625 | $0 | 6.16% |
| JACKSON, MS (FHA|USDA|VA) | 8 | $1,630,000 | $203,750 | $0 | 5.77% |
| Oxford, MS (FHA|USDA|VA) | 6 | $1,270,000 | $211,667 | $0 | 5.62% |
| Clarksdale, MS (FHA|USDA|VA) | 8 | $780,000 | $97,500 | $0 | 5.80% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $655,000 | $655,000 | $0 | 5.25% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 6.60% |
| TUSCALOOSA, AL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 5.46% |
| Sevierville, TN (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 4.65% |
| FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 5.85% |
| Batesville, AR (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 6.75% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 525 | $41,435,000 | $78,924 | $0 | 6.20% |
For 2019, Planters Bank & Trust Company's most frequently originated type of loan was Conventional, with 525 originations.
Loan Reason
For 2019, Planters Bank & Trust Company's most frequently cited loan purpose was Refi, with 329 originations. The 2nd most popular reason was Home Purchase, with 146 originations.
Loan Duration/Length
For 2019, Planters Bank & Trust Company's most frequently cited loan duration was Other, with 485 originations. The 2nd most popular length was 5 Year, with 24 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 248 | $20,600,000 | $83,065 |
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 248 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 241 | $22,575,000 | $93,672 |
| 6-7% | 175 | $11,605,000 | $66,314 |
| 7-8% | 49 | $2,745,000 | $56,020 |
| 4-5% | 31 | $3,235,000 | $104,355 |
| Over 8% | 28 | $1,250,000 | $44,643 |
During 2019, 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 241 originations.
Loan Sizing
2019 saw Planters Bank & Trust Company place emphasis on $100,000 or less loans with 404 originations, totaling $16,960,000 in origination value.
Applicant Income
Planters Bank & Trust Company lent most frequently to those with incomes in the $50k or less range, with 127 originations. The second most popular income band? $50k-75k, with 98 originations.
Applicant Debt to Income Ratio
Planters Bank & Trust Company lent most frequently to those with DTI ratios of 20-30%, with 92 originations. The next most common DTI ratio? <20%, with 72 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.06%
Planters Bank & Trust Company has an average approval rate.
Pick Rate
Approvals leading to origination86.86%
Planters Bank & Trust Company has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 525 | $41,435,000 | $78,924 |
Occupancy Type Mix
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| PLANET HOME LENDING, LLC | Conventional home mortgage | Closing on a mortgage | 1 | 2.1% |
| PLANET HOME LENDING, LLC | Conventional home mortgage | Problem with a credit reporting company's investigation into an existing problem | 1 | 2.1% |
| PLANET HOME LENDING, LLC | Conventional home mortgage | Struggling to pay mortgage | 9 | 18.8% |
| PLANET HOME LENDING, LLC | Conventional home mortgage | Trouble during payment process | 13 | 27.1% |
| PLANET HOME LENDING, LLC | FHA mortgage | Closing on a mortgage | 1 | 2.1% |
| PLANET HOME LENDING, LLC | FHA mortgage | Incorrect information on your report | 1 | 2.1% |
| PLANET HOME LENDING, LLC | FHA mortgage | Struggling to pay mortgage | 5 | 10.4% |
| PLANET HOME LENDING, LLC | FHA mortgage | Trouble during payment process | 3 | 6.3% |
| PLANET HOME LENDING, LLC | Other type of mortgage | Struggling to pay mortgage | 2 | 4.2% |
| PLANET HOME LENDING, LLC | Other type of mortgage | Trouble during payment process | 1 | 2.1% |
| PLANET HOME LENDING, LLC | VA mortgage | Closing on a mortgage | 1 | 2.1% |
| PLANET HOME LENDING, LLC | VA mortgage | Problem with a credit reporting company's investigation into an existing problem | 1 | 2.1% |
| PLANET HOME LENDING, LLC | VA mortgage | Struggling to pay mortgage | 2 | 4.2% |
| PLANET HOME LENDING, LLC | VA mortgage | Trouble during payment process | 7 | 14.6% |
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 | $6,495 |
| Planters Bank & Trust Company | 1002 Highway 82 East Leland, MS 38756 | Full Service B&M | $59,193 |
| Planters Bank & Trust Company | 1020 South Court Street Tunica, MS 38676 | Full Service B&M | $43,559 |
| Planters Bank & Trust Company | 1130 Highway 6 East Batesville, MS 38606 | Full Service B&M | $20,932 |
| 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 | $66,797 |
| 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 | $107,866 |
| Planters Bank & Trust Company | 212 Catchings Street Indianola, MS 38751 | Full Service B&M | $178,726 |
| Planters Bank & Trust Company | 232 Goodman Road Southaven, MS 38671 | Full Service B&M | $23,788 |
| Planters Bank & Trust Company | 428 North Davis Avenue Cleveland, MS 38732 | Full Service B&M | $103,627 |
| 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 | $19,594 |
| Planters Bank & Trust Company | 915 Medallion Drive Greenwood, MS 38930 | Full Service B&M | $113,580 |
| Planters Bank & Trust Company | Highway 49 And West Silver Creek Road Louise, MS 39097 | Full Service B&M | $6,892 |
| Planters Bank & Trust Company | Hinds Street And Washington Avenue Greenville, MS 38701 | Full Service B&M | $184,151 |
For 2019, Planters Bank & Trust Company had 19 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $43,858 |
| Net interest income | $34,238 |
| Total noninterest income | $9,322 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $5,646 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $3,676 |
| Pre-tax net operating income | $14,506 |
| Securities gains (or losses, -) | $211 |
| Income before extraordinary items | $11,987 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $11,987 |
| Minority interest net income | $0 |
| Net income | $11,987 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $11,816 |
Planters Bank & Trust Company's gross interest income from loans was $43,858,000.
Planters Bank & Trust Company's net interest income from loans was $34,238,000.
Planters Bank & Trust Company's fee based income from loans was $5,646,000.
Planters Bank & Trust Company's net income from loans was $11,987,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $9,620 |
| Provision for credit losses | $1,078 |
| Total noninterest expense | $27,976 |
| Salaries and employee benefits | $15,889 |
| Premises and equipment expense | $3,408 |
| Additional noninterest expense | $8,679 |
| Applicable income taxes | $2,730 |
| Net charge-offs | $1,278 |
| Cash dividends | $7,100 |
Planters Bank & Trust Company's interest expense for loans was $9,620,000.
Planters Bank & Trust Company's payroll and benefits expense were $15,889,000.
Planters Bank & Trust Company's property, plant and equipment expenses $3,408,000.
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 | 1.0% |
| 1-4 family residential loans | 2.0% |
| HELOC loans | 0.0% |
| All other family | 2.0% |
| Commercial & industrial loans | 0.0% |
| Personal loans | 0.0% |
| Credit card loans | 0.0% |
| Other individual loans | 0.0% |
| Auto loans | 1.0% |
| Other consumer loans | 0.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $958,355 |
| Deposits held in domestic offices | $958,355 |
| Deposits by Individuals, partnerships, and corporations | $778,415 |
| Deposits by U.S. Government | $264 |
| Deposits by States and political subdivisions in the U.S. | $179,676 |
| 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 | $52,315 |
| Demand deposits | $39,536 |
| Nontransaction accounts | $906,040 |
| Money market deposit accounts (MMDAs) | $521,931 |
| Other savings deposits (excluding MMDAs) | $60,393 |
| Total time deposits | $323,716 |
| Total time and savings deposits | $918,819 |
| Noninterest-bearing deposits | $39,536 |
| Interest-bearing deposits | $918,819 |
| Retail deposits | $853,160 |
| IRAs and Keogh plan accounts | $44,866 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $1,098,217 |
| Cash & Balances due from depository institutions | $51,726 |
| Interest-bearing balances | $29,768 |
| Total securities | $378,107 |
| Federal funds sold & reverse repurchase | $13,698 |
| Net loans and leases | $582,437 |
| Loan and leases loss allowance | $4,800 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $26,718 |
| Other real estate owned | $1,398 |
| Goodwill and other intangibles | $5,651 |
| All other assets | $38,482 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $1,098,217 |
| Total Liabilities | $983,056 |
| Total deposits | $958,355 |
| Interest-bearing deposits | $918,819 |
| Deposits held in domestic offices | $958,355 |
| % insured (estimated) | $65 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $18,787 |
| Subordinated debt | $0 |
| All other liabilities | $5,914 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $582,437 |
| Loan and leases loss allowance | $4,800 |
| Total loans and leases (domestic) | $587,237 |
| All real estate loans | $415,963 |
| Real estate loans in domestic offices | $415,963 |
| Construction and development loans | $27,579 |
| Residential 1-4 family construction | $7,000 |
| Other construction, all land development and other land | $20,579 |
| Loans secured by nonfarm nonresidential properties | $167,789 |
| Nonfarm nonresidential secured by owner-occupied properties | $57,330 |
| Commercial real estate & other non-farm, non-residential | $110,459 |
| Multifamily residential real estate | $10,832 |
| 1-4 family residential loans | $170,885 |
| Farmland loans | $38,878 |
| Loans held in foreign offices | $0 |
| Farm loans | $47,657 |
| Commercial and industrial loans | $93,724 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $23,020 |
| Credit card loans | $0 |
| Related Plans | $1,095 |
| Consumer Auto Loans | $5,530 |
| Other loans to individuals | $16,395 |
| All other loans & leases | $6,873 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $4,315 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $4,934 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $2,095 |
| Non 1-4 family restructured loans & leases | $1,777 |
| Total loans and leases (foreign) | $0 |
Planters Bank & Trust Company had $582,437,000 of loans outstanding in 2019. $415,963,000 of loans were in real estate loans. $27,579,000 of loans were in development loans. $10,832,000 of loans were in multifamily mortgage loans. $170,885,000 of loans were in 1-4 family mortgage loans. $47,657,000 of loans were in farm loans. $0 of loans were in credit card loans. $5,530,000 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 | 515 | $80,553 | $156,414 |
| Nonfarm, nonresidential loans - <$100k | 246 | $9,592 | $38,992 |
| Nonfarm, nonresidential loans - $100-250k | 140 | $17,820 | $127,286 |
| Nonfarm, nonresidential loans - $250k-1MM | 129 | $53,141 | $411,946 |
| Commercial & Industrial, US addressed loans - <$1MM | 1,809 | $68,362 | $37,790 |
| Commercial & Industrial, US addressed loans - <$100k | 1,558 | $27,720 | $17,792 |
| Commercial & Industrial, US addressed loans - $100-250k | 193 | $22,857 | $118,430 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 58 | $17,785 | $306,638 |
| Farmland loans - <$1MM | 129 | $14,179 | $109,915 |
| Farmland loans - <$100k | 50 | $2,053 | $41,060 |
| Farmland loans - $100-250k | 53 | $6,644 | $125,358 |
| Farmland loans - $250k-1MM | 26 | $5,482 | $210,846 |
| Agriculture operations loans - <$1MM | 256 | $17,394 | $67,945 |
| Agriculture operations loans - <$100k | 164 | $3,903 | $23,799 |
| Agriculture operations loans - $100-250k | 46 | $3,859 | $83,891 |
| Agriculture operations loans - $250k-1MM | 46 | $9,632 | $209,391 |