Pinnacle Bank - Wyoming Mortgage Rates, Fees & Info

Cody, WY

LEI: 549300QG83M0EX7VC434

Tax ID: 83-0110575

5 stars - out of 5 stars, based on 30 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Pinnacle Bank - Wyoming is a smaller bank specializing in Home Purchase and Refi loans. Pinnacle Bank - Wyoming has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets include Gillette, Cheyenne, Scottsbluff, Laramie, and Sheridan among others. Pinnacle Bank - Wyoming has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Pinnacle Bank - Wyoming is typically an average fee lendor.


Originations

912

Origination Dollar Volume (All Markets)

$203,500,000

Employee count

164 Show all (13) awards

Relative Rate

Pinnacle Bank - Wyoming's average 30 year fixed rate mortgage of loans were 2.76%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.39%.

Relative Fees

Pinnacle Bank - Wyoming's average total fees for a 30 year fixed rate mortgage are $4,644.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Outside of Metro Areas 636 $145,320,000 $228,491 $4,242 2.88%
Gillette, WY (FHA|USDA|VA) 184 $33,580,000 $182,500 $4,397 2.85%
CHEYENNE, WY (FHA|USDA|VA) 44 $14,150,000 $321,591 $4,179 3.40%
Scottsbluff, NE (FHA|USDA|VA) 13 $2,825,000 $217,308 $3,409 3.83%
Laramie, WY (FHA|USDA|VA) 11 $2,015,000 $183,182 $0 4.24%
Sheridan, WY (FHA|USDA|VA) 3 $1,255,000 $418,333 $4,997 3.38%
RAPID CITY, SD (FHA|USDA|VA) 4 $1,240,000 $310,000 $4,753 3.43%
BILLINGS, MT (FHA|USDA|VA) 3 $885,000 $295,000 $4,188 3.33%
Riverton, WY (FHA|USDA|VA) 4 $860,000 $215,000 $6,447 3.19%
CASPER, WY (FHA|USDA|VA) 3 $415,000 $138,333 $2,728 3.76%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $265,000 $265,000 $0 3.38%
Spearfish, SD (FHA|USDA|VA) 2 $190,000 $95,000 $2,673 2.50%
FORT COLLINS, CO (FHA|USDA|VA) 1 $155,000 $155,000 $0 4.50%
Lexington, NE (FHA|USDA|VA) 1 $135,000 $135,000 $0 3.99%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $115,000 $115,000 $0 3.99%
Evanston, WY (FHA|USDA|VA) 1 $95,000 $95,000 $2,230 2.13%

Pinnacle Bank - Wyoming's top markets include Gillette, Cheyenne, Scottsbluff, Laramie, and Sheridan among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 749 $168,875,000 $225,467 $3,624 3.04%
USDA 87 $15,795,000 $181,552 $5,754 2.49%
VA 39 $11,125,000 $285,256 $7,183 2.38%
FHA 37 $7,705,000 $208,243 $7,897 2.54%

For the 2021 period, Pinnacle Bank - Wyoming's most frequently originated loan type of loans were Conventional, with 749 originations. Their 2nd most popular type is USDA, with 87 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 520 $121,670,000 $233,981 $5,040 2.96%
Refi 244 $52,880,000 $216,721 $3,272 2.84%
Cash Out Refi 114 $24,740,000 $217,018 $3,736 2.82%
Home Improvement 20 $1,830,000 $91,500 $2,025 4.03%
Other 14 $2,380,000 $170,000 $2,180 3.41%

For the 2021, Pinnacle Bank - Wyoming's most frequently cited loan purpose of loans were Home Purchase, with 520 originations. The 2nd most popular reason of loans were Refi, with 244 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 606 $139,650,000 $230,446 $4,644 2.76%
15 Year 119 $20,525,000 $172,479 $3,042 2.52%
Other 106 $31,200,000 $294,340 $2,896 3.82%
20 Year 40 $6,020,000 $150,500 $3,306 3.51%
1 Year 21 $4,225,000 $201,190 $5,281 4.42%
10 Year 17 $1,685,000 $99,118 $1,981 3.39%
5 Year 3 $195,000 $65,000 $213 3.75%

For the 2021, Pinnacle Bank - Wyoming's most frequently cited loan length of loans were 30 Year, with 606 originations. The 2nd most popular length of loans were 15 Year, with 119 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$2k-3k 267 $59,655,000 $223,427
$1k-2k 246 $33,410,000 $135,813
$3k-4k 158 $55,320,000 $350,127
$<1k 69 $6,695,000 $97,029
$5k+ 18 $9,520,000 $528,889

$4,644 of loans were Pinnacle Bank - Wyoming's average total fees, while their most frequently occuring range of origination fees were in the $2k-3k bucket, with 267 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
<2.5% 320 $68,540,000 $214,188
2.5-3% 319 $71,235,000 $223,307
3-4% 182 $46,210,000 $253,901
4-5% 89 $17,395,000 $195,449
5-6% 2 $120,000 $60,000

During 2021, Pinnacle Bank - Wyoming's average interest rate of loans were 2.76%, while their most frequently originated rate bucket of loans were <2.5%, with 320 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 372 $56,200,000 $151,075 $3,600 2.89%
$200k-400k 335 $91,535,000 $273,239 $5,251 2.92%
$100,000 or less 122 $7,230,000 $59,262 $1,591 3.14%
$400k-600k 68 $32,630,000 $479,853 $6,675 2.82%
$600k-1MM 8 $6,000,000 $750,000 $4,666 3.64%
$1MM+ 7 $9,905,000 $1,415,000 $11,433 3.85%

2021 saw Pinnacle Bank - Wyoming place emphasis on $100k-200k loans with 372 originations, totaling $56,200,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 233 $44,665,000 $191,695 $4,344 2.76%
$50k or less 175 $24,265,000 $138,657 $3,516 2.79%
$100k-150k 160 $41,560,000 $259,750 $4,581 2.97%
$75k-100k 157 $32,675,000 $208,121 $4,477 2.75%
$150k-250k 58 $21,100,000 $363,793 $5,339 2.99%
$250k+ 24 $8,340,000 $347,500 $5,179 3.19%

Pinnacle Bank - Wyoming lent most frequently to those with incomes in the $50k-75k range, with 233 originations. The second most popular income band? $50k or less, with 175 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 239 $45,355,000 $189,770 $3,844 2.79%
30-36% 161 $34,005,000 $211,211 $4,366 2.75%
<20% 110 $23,180,000 $210,727 $3,752 2.69%
38% 31 $6,055,000 $195,323 $5,219 2.78%
42% 30 $6,160,000 $205,333 $4,473 2.74%
36% 30 $5,810,000 $193,667 $4,976 2.58%
40% 28 $7,070,000 $252,500 $5,728 2.86%
37% 27 $6,425,000 $237,963 $4,663 2.89%
41% 24 $7,840,000 $326,667 $5,620 2.78%
39% 21 $4,785,000 $227,857 $3,977 3.07%
43% 20 $4,570,000 $228,500 $4,497 2.88%
44% 15 $3,565,000 $237,667 $3,881 2.80%
49% 15 $3,265,000 $217,667 $4,404 2.94%
50-60% 12 $3,400,000 $283,333 $4,110 3.91%
47% 10 $2,890,000 $289,000 $7,095 3.05%
>60% 8 $1,850,000 $231,250 $2,503 3.67%
45% 8 $2,320,000 $290,000 $5,827 2.63%
46% 8 $1,990,000 $248,750 $4,352 2.70%
48% 7 $1,555,000 $222,143 $3,619 2.80%

Pinnacle Bank - Wyoming lent most frequently to those with DTI ratios of 20-30%, with 239 originations. The next most common DTI ratio? 30-36%, with 161 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 775 $164,435,000 $212,174 $4,268 2.84%
Not applicable 79 $25,775,000 $326,266 $0 4.08%
Not provided 42 $9,720,000 $231,429 $4,111 2.70%
American Indian 10 $2,400,000 $240,000 $5,088 2.35%
Asian 4 $780,000 $195,000 $3,906 3.06%
Native Hawaiian 2 $390,000 $195,000 $3,192 3.06%

Approval Rates

Total approvals of all applications
94.15%

Pinnacle Bank - Wyoming has an average approval rate.

Pick Rate

Approvals leading to origination
82.03%

Pinnacle Bank - Wyoming has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
1595.0 1 $135,000 $135,000
250.0 1 $25,000 $25,000
580.0 1 $65,000 $65,000
NA 909 $203,275,000 $223,625

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
912 $203,500,000 $223,136

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 75 $10,825,000 $144,333 $2,733 3.21%
40-60% 157 $35,635,000 $226,975 $3,357 2.88%
60-80% 363 $87,375,000 $240,702 $3,991 3.13%
80-100% 268 $64,680,000 $241,343 $5,462 2.75%
Over 100% 12 $3,190,000 $265,833 $11,793 2.42%
Under 20% 37 $1,795,000 $48,514 $652 2.33%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Pinnacle Lending Group, Inc. Conventional home mortgage Closing on a mortgage 1 100.0%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Pinnacle Bank - Wyoming 1151 Broadway Street Mitchell, NE 69357 Full Service B&M $52,165
Pinnacle Bank - Wyoming 1501 South Greeley Highway Cheyenne, WY 82007 Full Service B&M $39,772
Pinnacle Bank - Wyoming 1702 Sheridan Ave Cody, WY 82414 Full Service B&M $274,326
Pinnacle Bank - Wyoming 175 North Evarts Street Powell, WY 82435 Full Service B&M $48,288
Pinnacle Bank - Wyoming 1941 West A Street Torrington, WY 82240 Limited, Drive-thru $0
Pinnacle Bank - Wyoming 2000 Main St Torrington, WY 82240 Full Service B&M $143,821
Pinnacle Bank - Wyoming 2000 Main Street Torrington, WY 82240 Full Service Cyber Office $2,245
Pinnacle Bank - Wyoming 3518 Dell Range Blvd Cheyenne, WY 82009 Full Service B&M $59,659
Pinnacle Bank - Wyoming 602 E Converse Moorcroft, WY 82721 Full Service B&M $45,911
Pinnacle Bank - Wyoming 627 Yellowstone Cody, WY 82414 Full Service B&M $48,411
Pinnacle Bank - Wyoming 644 Big Horn Avenue Worland, WY 82401 Limited, Drive-thru $0
Pinnacle Bank - Wyoming 644 Big Horn Avenue Worland, WY 82401 Full Service B&M $124,664
Pinnacle Bank - Wyoming 815 Madison Street Gillette, WY 82718 Full Service B&M $111,013
Pinnacle Bank - Wyoming 125 South Fifth Thermopolis, WY 82443 Full Service B&M $91,724
Pinnacle Bank - Wyoming 1401 Washington Boulevard Newcastle, WY 82701 Full Service B&M $89,384

For 2021, Pinnacle Bank - Wyoming had 15 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $44,735
Net interest income $41,792
Total noninterest income $6,621
Gross Fiduciary activities income $0
Service charges on deposit accounts $1,532
Trading account gains and fees $0
Additional Noninterest Income $5,089
Pre-tax net operating income $24,395
Securities gains (or losses, -) $0
Income before extraordinary items $19,310
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $19,310
Minority interest net income $0
Net income $19,310
Sale, conversion, retirement of capital stock, net $0
Net operating income $19,310

Pinnacle Bank - Wyoming's gross interest income from loans was $44,735,000.
Pinnacle Bank - Wyoming's net interest income from loans was $41,792,000.
Pinnacle Bank - Wyoming's fee based income from loans was $1,532,000.
Pinnacle Bank - Wyoming's net income from loans was $19,310,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $2,943
Provision for credit losses $2
Total noninterest expense $24,016
Salaries and employee benefits $13,994
Premises and equipment expense $2,160
Additional noninterest expense $7,862
Applicable income taxes $5,085
Net charge-offs $552
Cash dividends $2,000

Pinnacle Bank - Wyoming's interest expense for loans was $2,943,000.
Pinnacle Bank - Wyoming's payroll and benefits expense were $13,994,000.
Pinnacle Bank - Wyoming's property, plant and equipment expenses $2,160,000.

Loan Performance

Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
All loans 0.0%
Real Estate loans 0.0%
Construction & Land Development loans 0.0%
Nonfarm, nonresidential loans 0.0%
Multifamily residential loans 0.0%
1-4 family residential loans 0.0%
HELOC loans 0.0%
All other family 0.0%
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 $1,194,366
Deposits held in domestic offices $1,194,366
Deposits by Individuals, partnerships, and corporations $1,060,401
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $132,723
Deposits by Commercial banks and other depository institutions in U.S. $1,242
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $310,590
Demand deposits $244,743
Nontransaction accounts $883,776
Money market deposit accounts (MMDAs) $524,195
Other savings deposits (excluding MMDAs) $179,037
Total time deposits $180,544
Total time and savings deposits $949,623
Noninterest-bearing deposits $159,808
Interest-bearing deposits $1,034,558
Retail deposits $1,131,972
IRAs and Keogh plan accounts $19,676
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,325,996
Cash & Balances due from depository institutions $29,755
Interest-bearing balances $18,563
Total securities $523,563
Federal funds sold & reverse repurchase $0
Net loans and leases $742,327
Loan and leases loss allowance $11,372
Trading account assets $0
Bank premises and fixed assets $15,887
Other real estate owned $0
Goodwill and other intangibles $525
All other assets $13,939

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,325,996
Total Liabilities $1,203,295
Total deposits $1,194,366
Interest-bearing deposits $1,034,558
Deposits held in domestic offices $1,194,366
% insured (estimated) $74
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $2,687
Subordinated debt $0
All other liabilities $6,242

Issued Loan Types

Type Value (in 000's)
Net loans and leases $742,327
Loan and leases loss allowance $11,372
Total loans and leases (domestic) $753,699
All real estate loans $587,660
Real estate loans in domestic offices $587,660
Construction and development loans $26,280
Residential 1-4 family construction $20,850
Other construction, all land development and other land $5,430
Loans secured by nonfarm nonresidential properties $244,108
Nonfarm nonresidential secured by owner-occupied properties $106,959
Commercial real estate & other non-farm, non-residential $137,149
Multifamily residential real estate $16,486
1-4 family residential loans $147,597
Farmland loans $153,189
Loans held in foreign offices $0
Farm loans $78,456
Commercial and industrial loans $69,045
To non-U.S. addressees $0
Loans to individuals $15,665
Credit card loans $533
Related Plans $741
Consumer Auto Loans $8,630
Other loans to individuals $5,761
All other loans & leases $4,159
Loans to foreign governments and official institutions $0
Other loans $1,467
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $401
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $0
Non 1-4 family restructured loans & leases $0
Total loans and leases (foreign) $0

Pinnacle Bank - Wyoming had $742,327,000 of loans outstanding in 2021. $587,660,000 of loans were in real estate loans. $26,280,000 of loans were in development loans. $16,486,000 of loans were in multifamily mortgage loans. $147,597,000 of loans were in 1-4 family mortgage loans. $78,456,000 of loans were in farm loans. $533,000 of loans were in credit card loans. $8,630,000 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 353 $77,315 $219,023
Nonfarm, nonresidential loans - <$100k 67 $3,122 $46,597
Nonfarm, nonresidential loans - $100-250k 130 $16,202 $124,631
Nonfarm, nonresidential loans - $250k-1MM 156 $57,991 $371,737
Commercial & Industrial, US addressed loans - <$1MM 619 $37,844 $61,137
Commercial & Industrial, US addressed loans - <$100k 418 $7,574 $18,120
Commercial & Industrial, US addressed loans - $100-250k 113 $8,789 $77,779
Commercial & Industrial, US addressed loans - $250k-1MM 88 $21,481 $244,102
Farmland loans - <$1MM 202 $34,202 $169,317
Farmland loans - <$100k 44 $1,965 $44,659
Farmland loans - $100-250k 85 $11,640 $136,941
Farmland loans - $250k-1MM 73 $20,597 $282,151
Agriculture operations loans - <$1MM 412 $28,306 $68,704
Agriculture operations loans - <$100k 236 $5,831 $24,708
Agriculture operations loans - $100-250k 113 $9,550 $84,513
Agriculture operations loans - $250k-1MM 63 $12,925 $205,159