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, 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.
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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
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 |