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, Cleveland, 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% | 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
508Origination Dollar Volume (All Markets)
$38,300,000Employee count
222Top 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) | 204 | $13,120,000 | $64,314 | $2,475 | 5.79% |
| Indianola, MS (FHA|USDA|VA) | 99 | $6,035,000 | $60,960 | $0 | 5.44% |
| Cleveland, MS (FHA|USDA|VA) | 75 | $6,005,000 | $80,067 | $0 | 5.28% |
| Greenwood, MS (FHA|USDA|VA) | 56 | $4,470,000 | $79,821 | $1,614 | 5.09% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 18 | $2,660,000 | $147,778 | $0 | 4.83% |
| Outside of Metro Areas | 19 | $1,475,000 | $77,632 | $0 | 4.81% |
| Oxford, MS (FHA|USDA|VA) | 11 | $1,135,000 | $103,182 | $1,208 | 4.88% |
| JACKSON, MS (FHA|USDA|VA) | 7 | $875,000 | $125,000 | $0 | 5.19% |
| Clarksdale, MS (FHA|USDA|VA) | 9 | $675,000 | $75,000 | $0 | 5.67% |
| Columbus, MS (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $0 | 4.25% |
| Starkville, MS (FHA|USDA|VA) | 5 | $445,000 | $89,000 | $0 | 4.83% |
| Grenada, MS (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $0 | 5.00% |
| Sevierville, TN (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 4.65% |
| FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 4.00% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 4.75% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 508 | $38,300,000 | $75,394 | $1,766 | 5.45% |
For 2020, Planters Bank & Trust Company's most frequently originated type of loan was Conventional, with 508 originations.
Loan Reason
For 2020, Planters Bank & Trust Company's most frequently cited loan purpose was Refi, with 367 originations. The 2nd most popular reason was Home Purchase, with 111 originations.
Loan Duration/Length
For 2020, Planters Bank & Trust Company's most frequently cited loan duration was Other, with 266 originations. The 2nd most popular length was 5 Year, with 187 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 260 | $19,810,000 | $76,192 |
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 260 originations.
Interest Rates
During 2020, Planters Bank & Trust Company's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 222 originations.
Loan Sizing
2020 saw Planters Bank & Trust Company place emphasis on $100,000 or less loans with 387 originations, totaling $16,355,000 in origination value.
Applicant Income
Planters Bank & Trust Company lent most frequently to those with incomes in the $50k or less range, with 113 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 85 originations. The next most common DTI ratio? 30-36%, with 69 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications88.80%
Planters Bank & Trust Company has an average approval rate.
Pick Rate
Approvals leading to origination87.60%
Planters Bank & Trust Company has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 4 | $650,000 | $162,500 |
| NA | 504 | $37,650,000 | $74,702 |
Occupancy Type Mix
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| PLANET HOME LENDING, LLC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 4 | 4.3% |
| PLANET HOME LENDING, LLC | Conventional home mortgage | Closing on a mortgage | 4 | 4.3% |
| PLANET HOME LENDING, LLC | Conventional home mortgage | Incorrect information on your report | 1 | 1.1% |
| PLANET HOME LENDING, LLC | Conventional home mortgage | Struggling to pay mortgage | 11 | 12.0% |
| PLANET HOME LENDING, LLC | Conventional home mortgage | Trouble during payment process | 16 | 17.4% |
| PLANET HOME LENDING, LLC | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 2.2% |
| PLANET HOME LENDING, LLC | FHA mortgage | Closing on a mortgage | 3 | 3.3% |
| PLANET HOME LENDING, LLC | FHA mortgage | Incorrect information on your report | 1 | 1.1% |
| PLANET HOME LENDING, LLC | FHA mortgage | Struggling to pay mortgage | 5 | 5.4% |
| PLANET HOME LENDING, LLC | FHA mortgage | Trouble during payment process | 18 | 19.6% |
| PLANET HOME LENDING, LLC | Home equity loan or line of credit (HELOC) | Struggling to pay mortgage | 2 | 2.2% |
| PLANET HOME LENDING, LLC | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 1.1% |
| PLANET HOME LENDING, LLC | Other type of mortgage | Struggling to pay mortgage | 2 | 2.2% |
| PLANET HOME LENDING, LLC | Other type of mortgage | Trouble during payment process | 5 | 5.4% |
| PLANET HOME LENDING, LLC | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 2.2% |
| PLANET HOME LENDING, LLC | VA mortgage | Closing on a mortgage | 3 | 3.3% |
| PLANET HOME LENDING, LLC | VA mortgage | Struggling to pay mortgage | 4 | 4.3% |
| PLANET HOME LENDING, LLC | VA mortgage | Trouble during payment process | 8 | 8.7% |
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 | $6,529 |
| Planters Bank & Trust Company | 1002 Highway 82 East Leland, MS 38756 | Full Service B&M | $74,250 |
| Planters Bank & Trust Company | 1020 South Court Street Tunica, MS 38676 | Full Service B&M | $41,722 |
| Planters Bank & Trust Company | 1130 Highway 6 East Batesville, MS 38606 | Full Service B&M | $31,598 |
| 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 | $82,010 |
| 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 | $112,031 |
| Planters Bank & Trust Company | 212 Catchings Street Indianola, MS 38751 | Full Service B&M | $204,340 |
| Planters Bank & Trust Company | 232 Goodman Road Southaven, MS 38671 | Full Service B&M | $37,230 |
| Planters Bank & Trust Company | 428 North Davis Avenue Cleveland, MS 38732 | Full Service B&M | $110,964 |
| 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 | $21,069 |
| Planters Bank & Trust Company | 915 Medallion Drive Greenwood, MS 38930 | Full Service B&M | $123,744 |
| Planters Bank & Trust Company | Highway 49 And West Silver Creek Road Louise, MS 39097 | Full Service B&M | $6,977 |
| Planters Bank & Trust Company | Hinds Street And Washington Avenue Greenville, MS 38701 | Full Service B&M | $233,904 |
For 2020, Planters Bank & Trust Company had 19 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $42,764 |
| Net interest income | $34,502 |
| Total noninterest income | $9,920 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $4,933 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $4,987 |
| Pre-tax net operating income | $13,727 |
| Securities gains (or losses, -) | $409 |
| Income before extraordinary items | $11,625 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $11,625 |
| Minority interest net income | $0 |
| Net income | $11,625 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $11,289 |
Planters Bank & Trust Company's gross interest income from loans was $42,764,000.
Planters Bank & Trust Company's net interest income from loans was $34,502,000.
Planters Bank & Trust Company's fee based income from loans was $4,933,000.
Planters Bank & Trust Company's net income from loans was $11,625,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $8,262 |
| Provision for credit losses | $1,784 |
| Total noninterest expense | $28,911 |
| Salaries and employee benefits | $16,023 |
| Premises and equipment expense | $3,653 |
| Additional noninterest expense | $9,235 |
| Applicable income taxes | $2,511 |
| Net charge-offs | $1,417 |
| Cash dividends | $7,000 |
Planters Bank & Trust Company's interest expense for loans was $8,262,000.
Planters Bank & Trust Company's payroll and benefits expense were $16,023,000.
Planters Bank & Trust Company's property, plant and equipment expenses $3,653,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 1.0% |
| Real Estate loans | 2.0% |
| Construction & Land Development loans | 0.0% |
| Nonfarm, nonresidential loans | 0.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 4.0% |
| HELOC loans | 0.0% |
| All other family | 4.0% |
| 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 | $1,100,702 |
| Deposits held in domestic offices | $1,100,702 |
| Deposits by Individuals, partnerships, and corporations | $908,152 |
| Deposits by U.S. Government | $291 |
| Deposits by States and political subdivisions in the U.S. | $192,259 |
| 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 | $63,028 |
| Demand deposits | $47,267 |
| Nontransaction accounts | $1,037,674 |
| Money market deposit accounts (MMDAs) | $641,460 |
| Other savings deposits (excluding MMDAs) | $78,624 |
| Total time deposits | $317,591 |
| Total time and savings deposits | $1,053,435 |
| Noninterest-bearing deposits | $47,267 |
| Interest-bearing deposits | $1,053,435 |
| Retail deposits | $1,002,634 |
| IRAs and Keogh plan accounts | $46,113 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $1,240,380 |
| Cash & Balances due from depository institutions | $114,380 |
| Interest-bearing balances | $95,846 |
| Total securities | $480,950 |
| Federal funds sold & reverse repurchase | $6,236 |
| Net loans and leases | $565,145 |
| Loan and leases loss allowance | $5,166 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $30,156 |
| Other real estate owned | $1,827 |
| Goodwill and other intangibles | $5,445 |
| All other assets | $36,241 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $1,240,380 |
| Total Liabilities | $1,115,428 |
| Total deposits | $1,100,702 |
| Interest-bearing deposits | $1,053,435 |
| Deposits held in domestic offices | $1,100,702 |
| % insured (estimated) | $65 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $8,433 |
| Subordinated debt | $0 |
| All other liabilities | $6,293 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $565,145 |
| Loan and leases loss allowance | $5,166 |
| Total loans and leases (domestic) | $570,311 |
| All real estate loans | $389,595 |
| Real estate loans in domestic offices | $389,595 |
| Construction and development loans | $44,836 |
| Residential 1-4 family construction | $10,636 |
| Other construction, all land development and other land | $34,200 |
| Loans secured by nonfarm nonresidential properties | $164,831 |
| Nonfarm nonresidential secured by owner-occupied properties | $58,557 |
| Commercial real estate & other non-farm, non-residential | $106,274 |
| Multifamily residential real estate | $11,800 |
| 1-4 family residential loans | $141,192 |
| Farmland loans | $26,936 |
| Loans held in foreign offices | $0 |
| Farm loans | $46,935 |
| Commercial and industrial loans | $107,286 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $21,041 |
| Credit card loans | $0 |
| Related Plans | $1,004 |
| Consumer Auto Loans | $4,654 |
| Other loans to individuals | $15,383 |
| All other loans & leases | $5,454 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $3,626 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $3,440 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $1,718 |
| Non 1-4 family restructured loans & leases | $1,324 |
| Total loans and leases (foreign) | $0 |
Planters Bank & Trust Company had $565,145,000 of loans outstanding in 2020. $389,595,000 of loans were in real estate loans. $44,836,000 of loans were in development loans. $11,800,000 of loans were in multifamily mortgage loans. $141,192,000 of loans were in 1-4 family mortgage loans. $46,935,000 of loans were in farm loans. $0 of loans were in credit card loans. $4,654,000 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 | 497 | $73,272 | $147,429 |
| Nonfarm, nonresidential loans - <$100k | 228 | $8,985 | $39,408 |
| Nonfarm, nonresidential loans - $100-250k | 143 | $17,404 | $121,706 |
| Nonfarm, nonresidential loans - $250k-1MM | 126 | $46,883 | $372,087 |
| Commercial & Industrial, US addressed loans - <$1MM | 2,180 | $79,280 | $36,367 |
| Commercial & Industrial, US addressed loans - <$100k | 1,875 | $34,835 | $18,579 |
| Commercial & Industrial, US addressed loans - $100-250k | 232 | $24,987 | $107,703 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 73 | $19,458 | $266,548 |
| Farmland loans - <$1MM | 123 | $13,409 | $109,016 |
| Farmland loans - <$100k | 51 | $2,048 | $40,157 |
| Farmland loans - $100-250k | 48 | $6,037 | $125,771 |
| Farmland loans - $250k-1MM | 24 | $5,324 | $221,833 |
| Agriculture operations loans - <$1MM | 273 | $15,307 | $56,070 |
| Agriculture operations loans - <$100k | 192 | $4,865 | $25,339 |
| Agriculture operations loans - $100-250k | 45 | $4,463 | $99,178 |
| Agriculture operations loans - $250k-1MM | 36 | $5,979 | $166,083 |