Planters Bank & Trust Company Mortgage Rates, Fees & Info

Indianola, MS

LEI: 549300PGV74J5SPHTG47

Tax ID: 64-0223390

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • 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, Memphis, and Starkville 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 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.

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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






    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

    466

    Origination Dollar Volume (All Markets)

    $54,120,000

    Employee count

    247

    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
    Greenville, MS (FHA|USDA|VA) 179 $10,905,000 $60,922 $1,615 5.19%
    Cleveland, MS (FHA|USDA|VA) 50 $7,880,000 $157,600 $0 4.42%
    Indianola, MS (FHA|USDA|VA) 95 $7,755,000 $81,632 $0 4.78%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 25 $5,425,000 $217,000 $0 4.10%
    Starkville, MS (FHA|USDA|VA) 7 $4,735,000 $676,429 $0 4.06%
    Outside of Metro Areas 41 $4,025,000 $98,171 $0 4.45%
    Greenwood, MS (FHA|USDA|VA) 30 $3,520,000 $117,333 $0 4.62%
    Oxford, MS (FHA|USDA|VA) 14 $3,000,000 $214,286 $0 4.27%
    Tupelo, MS (FHA|USDA|VA) 1 $2,245,000 $2,245,000 $0 3.50%
    Clarksdale, MS (FHA|USDA|VA) 11 $1,325,000 $120,455 $0 4.79%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $905,000 $905,000 $0 3.60%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $755,000 $755,000 $0 3.50%
    JACKSON, MS (FHA|USDA|VA) 4 $550,000 $137,500 $0 4.41%
    Grenada, MS (FHA|USDA|VA) 3 $515,000 $171,667 $0 4.58%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $305,000 $305,000 $0 4.37%
    Sevierville, TN (FHA|USDA|VA) 1 $205,000 $205,000 $0 4.15%
    BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $65,000 $65,000 $0 4.37%
    GULFPORT-BILOXI, MS (FHA|USDA|VA) 1 $5,000 $5,000 $0 5.40%
    Planters Bank & Trust Company's top markets include Greenville, Cleveland, Indianola, Memphis, and Starkville among others.

    Their top states include:
  • Mississippi (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 466 $54,120,000 $116,137 $1,615 4.78%

    For 2021, Planters Bank & Trust Company's most frequently originated type of loan was Conventional, with 466 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 271 $26,255,000 $96,882 $0 4.90%
    Home Purchase 167 $26,275,000 $157,335 $1,615 4.58%
    Home Improvement 22 $1,330,000 $60,455 $0 4.93%
    Other 6 $260,000 $43,333 $0 4.32%

    For 2021, Planters Bank & Trust Company's most frequently cited loan purpose was Refi, with 271 originations. The 2nd most popular reason was Home Purchase, with 167 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    5 Year 247 $21,765,000 $88,117 $1,615 4.85%
    Other 164 $20,370,000 $124,207 $0 4.80%
    1 Year 16 $2,280,000 $142,500 $0 4.62%
    20 Year 15 $6,315,000 $421,000 $0 4.18%
    15 Year 14 $2,770,000 $197,857 $0 4.12%
    10 Year 7 $505,000 $72,143 $0 4.43%
    3 Year 3 $115,000 $38,333 $0 5.60%

    For 2021, Planters Bank & Trust Company's most frequently cited loan duration was 5 Year, with 247 originations. The 2nd most popular length was Other, with 164 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 266 $23,190,000 $87,180

    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 266 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 248 $26,090,000 $105,202
    5-6% 91 $4,605,000 $50,604
    3-4% 87 $21,405,000 $246,034
    6-7% 32 $1,520,000 $47,500
    7-8% 4 $210,000 $52,500
    Over 8% 4 $290,000 $72,500

    During 2021, 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 248 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 325 $14,605,000 $44,938 $1,615 4.94%
    $100k-200k 79 $10,855,000 $137,405 $0 4.58%
    $200k-400k 44 $11,370,000 $258,409 $0 4.35%
    $400k-600k 8 $4,010,000 $501,250 $0 3.85%
    $600k-1MM 6 $4,820,000 $803,333 $0 3.95%
    $1MM+ 4 $8,460,000 $2,115,000 $0 3.81%

    2021 saw Planters Bank & Trust Company place emphasis on $100,000 or less loans with 325 originations, totaling $14,605,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 108 $7,040,000 $65,185 $0 4.95%
    $50k or less 80 $4,580,000 $57,250 $1,615 4.88%
    $100k-150k 74 $7,380,000 $99,730 $0 4.87%
    $75k-100k 64 $4,640,000 $72,500 $0 4.97%
    $150k-250k 40 $4,360,000 $109,000 $0 4.71%
    $250k+ 17 $4,055,000 $238,529 $0 4.28%

    Planters Bank & Trust Company lent most frequently to those with incomes in the $50k-75k range, with 108 originations. The second most popular income band? $50k or less, with 80 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 86 $6,850,000 $79,651 $0 4.79%
    <20% 83 $7,925,000 $95,482 $0 4.75%
    30-36% 68 $4,770,000 $70,147 $1,615 4.81%
    >60% 32 $3,640,000 $113,750 $0 5.18%
    50-60% 23 $1,865,000 $81,087 $0 5.09%
    39% 14 $1,560,000 $111,429 $0 4.75%
    41% 11 $605,000 $55,000 $0 4.57%
    37% 10 $630,000 $63,000 $0 4.24%
    40% 8 $350,000 $43,750 $0 6.05%
    42% 7 $795,000 $113,571 $0 4.79%
    44% 6 $350,000 $58,333 $0 5.05%
    43% 6 $570,000 $95,000 $0 4.94%
    45% 6 $240,000 $40,000 $0 5.69%
    46% 6 $660,000 $110,000 $0 4.78%
    47% 6 $310,000 $51,667 $0 5.30%
    48% 6 $680,000 $113,333 $0 4.67%
    49% 3 $375,000 $125,000 $0 4.33%
    38% 3 $145,000 $48,333 $0 5.08%
    36% 3 $145,000 $48,333 $0 4.78%

    Planters Bank & Trust Company lent most frequently to those with DTI ratios of 20-30%, with 86 originations. The next most common DTI ratio? <20%, with 83 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 223 $23,465,000 $105,224 $0 4.62%
    Not applicable 79 $21,655,000 $274,114 $0 4.39%
    Black 154 $8,130,000 $52,792 $1,615 5.22%
    Asian 6 $610,000 $101,667 $0 5.10%
    American Indian 1 $155,000 $155,000 $0 4.25%
    Not provided 3 $105,000 $35,000 $0 4.17%

    Approval Rates

    Total approvals of all applications
    88.65%

    Planters Bank & Trust Company has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.05%

    Planters Bank & Trust Company has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 466 $54,120,000 $116,137

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    466 $54,120,000 $116,137

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 61 $5,045,000 $82,705 $1,615 4.71%
    40-60% 97 $7,005,000 $72,216 $0 4.94%
    60-80% 172 $23,920,000 $139,070 $0 4.78%
    80-100% 112 $17,390,000 $155,268 $0 4.67%
    Over 100% 5 $365,000 $73,000 $0 4.91%
    Under 20% 19 $395,000 $20,789 $0 4.91%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    PLANET HOME LENDING, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 6 5.0%
    PLANET HOME LENDING, LLC Conventional home mortgage Closing on a mortgage 3 2.5%
    PLANET HOME LENDING, LLC Conventional home mortgage Incorrect information on your report 2 1.7%
    PLANET HOME LENDING, LLC Conventional home mortgage Struggling to pay mortgage 15 12.5%
    PLANET HOME LENDING, LLC Conventional home mortgage Trouble during payment process 35 29.2%
    PLANET HOME LENDING, LLC FHA mortgage Applying for a mortgage or refinancing an existing mortgage 2 1.7%
    PLANET HOME LENDING, LLC FHA mortgage Closing on a mortgage 2 1.7%
    PLANET HOME LENDING, LLC FHA mortgage Credit monitoring or identity theft protection services 1 0.8%
    PLANET HOME LENDING, LLC FHA mortgage Incorrect information on your report 2 1.7%
    PLANET HOME LENDING, LLC FHA mortgage Problem with a credit reporting company's investigation into an existing problem 2 1.7%
    PLANET HOME LENDING, LLC FHA mortgage Struggling to pay mortgage 7 5.8%
    PLANET HOME LENDING, LLC FHA mortgage Trouble during payment process 11 9.2%
    PLANET HOME LENDING, LLC Home equity loan or line of credit (HELOC) Closing on a mortgage 1 0.8%
    PLANET HOME LENDING, LLC Home equity loan or line of credit (HELOC) Struggling to pay mortgage 4 3.3%
    PLANET HOME LENDING, LLC Other type of mortgage Incorrect information on your report 1 0.8%
    PLANET HOME LENDING, LLC Other type of mortgage Struggling to pay mortgage 3 2.5%
    PLANET HOME LENDING, LLC Other type of mortgage Trouble during payment process 4 3.3%
    PLANET HOME LENDING, LLC VA mortgage Applying for a mortgage or refinancing an existing mortgage 7 5.8%
    PLANET HOME LENDING, LLC VA mortgage Closing on a mortgage 1 0.8%
    PLANET HOME LENDING, LLC VA mortgage Incorrect information on your report 2 1.7%
    PLANET HOME LENDING, LLC VA mortgage Trouble during payment process 9 7.5%

    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 $6,542
    Planters Bank & Trust Company 1002 Highway 82 East Leland, MS 38756 Full Service B&M $82,980
    Planters Bank & Trust Company 1020 South Court Street Tunica, MS 38676 Full Service B&M $45,457
    Planters Bank & Trust Company 1130 Highway 6 East Batesville, MS 38606 Full Service B&M $32,634
    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 $85,447
    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 $132,590
    Planters Bank & Trust Company 212 Catchings Street Indianola, MS 38751 Full Service B&M $236,232
    Planters Bank & Trust Company 232 Goodman Road Southaven, MS 38671 Full Service B&M $39,943
    Planters Bank & Trust Company 428 North Davis Avenue Cleveland, MS 38732 Full Service B&M $123,175
    Planters Bank & Trust Company 521 East Early Street Indianola, MS 38751 Full Service B&M $0
    Planters Bank & Trust Company 5771 Goodman Rd Olive Branch, MS 38654 Full Service B&M $4,624
    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 $21,564
    Planters Bank & Trust Company 915 Medallion Drive Greenwood, MS 38930 Full Service B&M $135,094
    Planters Bank & Trust Company Highway 49 And West Silver Creek Road Louise, MS 39097 Full Service B&M $7,521
    Planters Bank & Trust Company Hinds Street And Washington Avenue Greenville, MS 38701 Full Service B&M $215,984

    For 2021, Planters Bank & Trust Company had 20 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $41,319
    Net interest income $35,925
    Total noninterest income $12,375
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $5,768
    Trading account gains and fees $0
    Additional Noninterest Income $6,607
    Pre-tax net operating income $17,569
    Securities gains (or losses, -) $236
    Income before extraordinary items $14,003
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $14,003
    Minority interest net income $0
    Net income $14,003
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $13,816

    Planters Bank & Trust Company's gross interest income from loans was $41,319,000.
    Planters Bank & Trust Company's net interest income from loans was $35,925,000.
    Planters Bank & Trust Company's fee based income from loans was $5,768,000.
    Planters Bank & Trust Company's net income from loans was $14,003,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $5,394
    Provision for credit losses $1,632
    Total noninterest expense $29,099
    Salaries and employee benefits $15,932
    Premises and equipment expense $3,702
    Additional noninterest expense $9,465
    Applicable income taxes $3,802
    Net charge-offs $716
    Cash dividends $0

    Planters Bank & Trust Company's interest expense for loans was $5,394,000.
    Planters Bank & Trust Company's payroll and benefits expense were $15,932,000.
    Planters Bank & Trust Company's property, plant and equipment expenses $3,702,000.

    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 1.0%
    Multifamily residential loans 0.0%
    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 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $1,558,945
    Deposits held in domestic offices $1,558,945
    Deposits by Individuals, partnerships, and corporations $1,294,422
    Deposits by U.S. Government $325
    Deposits by States and political subdivisions in the U.S. $248,073
    Deposits by Commercial banks and other depository institutions in U.S. $16,125
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $160,464
    Demand deposits $137,641
    Nontransaction accounts $1,398,481
    Money market deposit accounts (MMDAs) $817,037
    Other savings deposits (excluding MMDAs) $95,342
    Total time deposits $486,102
    Total time and savings deposits $1,421,304
    Noninterest-bearing deposits $137,641
    Interest-bearing deposits $1,421,304
    Retail deposits $1,422,983
    IRAs and Keogh plan accounts $46,238
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,763,876
    Cash & Balances due from depository institutions $112,583
    Interest-bearing balances $84,195
    Total securities $618,455
    Federal funds sold & reverse repurchase $55,293
    Net loans and leases $869,366
    Loan and leases loss allowance $6,081
    Trading account assets $0
    Bank premises and fixed assets $38,126
    Other real estate owned $410
    Goodwill and other intangibles $24,843
    All other assets $44,800

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,763,876
    Total Liabilities $1,589,618
    Total deposits $1,558,945
    Interest-bearing deposits $1,421,304
    Deposits held in domestic offices $1,558,945
    % insured (estimated) $72
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $25,321
    Subordinated debt $0
    All other liabilities $5,352

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $869,366
    Loan and leases loss allowance $6,081
    Total loans and leases (domestic) $875,447
    All real estate loans $673,095
    Real estate loans in domestic offices $673,095
    Construction and development loans $89,285
    Residential 1-4 family construction $18,634
    Other construction, all land development and other land $70,651
    Loans secured by nonfarm nonresidential properties $291,369
    Nonfarm nonresidential secured by owner-occupied properties $105,712
    Commercial real estate & other non-farm, non-residential $185,657
    Multifamily residential real estate $59,014
    1-4 family residential loans $200,882
    Farmland loans $32,545
    Loans held in foreign offices $0
    Farm loans $42,931
    Commercial and industrial loans $122,525
    To non-U.S. addressees $0
    Loans to individuals $24,338
    Credit card loans $0
    Related Plans $1,711
    Consumer Auto Loans $5,045
    Other loans to individuals $17,582
    All other loans & leases $12,559
    Loans to foreign governments and official institutions $0
    Other loans $6,951
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $6,783
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $2,042
    Non 1-4 family restructured loans & leases $1,563
    Total loans and leases (foreign) $0

    Planters Bank & Trust Company had $869,366,000 of loans outstanding in 2021. $673,095,000 of loans were in real estate loans. $89,285,000 of loans were in development loans. $59,014,000 of loans were in multifamily mortgage loans. $200,882,000 of loans were in 1-4 family mortgage loans. $42,931,000 of loans were in farm loans. $0 of loans were in credit card loans. $5,045,000 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 542 $96,716 $178,443
    Nonfarm, nonresidential loans - <$100k 225 $8,581 $38,138
    Nonfarm, nonresidential loans - $100-250k 147 $18,456 $125,551
    Nonfarm, nonresidential loans - $250k-1MM 170 $69,679 $409,876
    Commercial & Industrial, US addressed loans - <$1MM 1,787 $85,893 $48,065
    Commercial & Industrial, US addressed loans - <$100k 1,477 $31,829 $21,550
    Commercial & Industrial, US addressed loans - $100-250k 206 $21,937 $106,490
    Commercial & Industrial, US addressed loans - $250k-1MM 104 $32,127 $308,913
    Farmland loans - <$1MM 101 $12,218 $120,970
    Farmland loans - <$100k 35 $1,250 $35,714
    Farmland loans - $100-250k 43 $5,424 $126,140
    Farmland loans - $250k-1MM 23 $5,544 $241,043
    Agriculture operations loans - <$1MM 232 $14,122 $60,871
    Agriculture operations loans - <$100k 142 $3,820 $26,901
    Agriculture operations loans - $100-250k 54 $4,648 $86,074
    Agriculture operations loans - $250k-1MM 36 $5,654 $157,056