Pioneer Bank Mortgage Rates, Fees & Info
Roswell, NMLEI: 549300QOIO7RN6JTEI45
Tax ID: 85-0065555
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Bank Data
Review & Overview
Pioneer Bank is a smaller bank specializing in Home Purchase, Cash Out Refi, and Refi loans. Pioneer Bank 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 by origination volume include: Roswell, Ruidoso, Las Cruces, Albuquerque, and Carlsbad among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)Pioneer Bank 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. Pioneer Bank is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
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 | 7.82% | 11/22/24 |
| 30 Year Conventional Refi | 7.41% | 11/22/24 |
| 30 Year Cash-out Refi | 8.03% | 11/22/24 |
| 15 Year Conventional Purchase | 8.57% | 11/22/24 |
| 15 Year Conventional Refi | 5.68% | 11/22/24 |
| 15 Year Cash-out Refi | 5.68% | 11/22/24 |
| 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. | ||
Pioneer Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
69Origination Dollar Volume (All Markets)
$10,615,000Employee count
145Top 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 |
|---|---|---|---|---|---|
| Roswell, NM (FHA|USDA|VA) | 23 | $4,445,000 | $193,261 | $2,785 | 5.26% |
| Ruidoso, NM (FHA|USDA|VA) | 8 | $1,900,000 | $237,500 | $352 | 4.81% |
| LAS CRUCES, NM (FHA|USDA|VA) | 12 | $1,010,000 | $84,167 | $1,999 | 5.15% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 3 | $935,000 | $311,667 | $0 | 4.50% |
| Carlsbad-Artesia, NM (FHA|USDA|VA) | 8 | $810,000 | $101,250 | $1,848 | 5.37% |
| EL PASO, TX (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 5.00% |
| Taos, NM (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $0 | 4.25% |
| Alamogordo, NM (FHA|USDA|VA) | 7 | $345,000 | $49,286 | $1,016 | 6.43% |
| Hobbs, NM (FHA|USDA|VA) | 5 | $255,000 | $51,000 | $6,915 | 6.07% |
| LUBBOCK, TX (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 4.13% |
Similar Lenders
We use machine learning to identify the top lenders compared against Pioneer Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 47 | $8,695,000 | $185,000 | $2,376 | 5.06% |
| HELOC | 21 | $1,895,000 | $90,238 | n/a | 5.91% |
| FHA | 1 | $25,000 | $25,000 | $0 | 4.50% |
For 2021, Pioneer Bank's most frequently originated type of loan was Conventional, with 47 originations. Their 2nd most popular type was HELOC, with 21 originations.
Loan Reason
For 2021, Pioneer Bank's most frequently cited loan purpose was Home Purchase, with 20 originations. The 2nd most popular reason was Cash Out Refi, with 17 originations.
Loan Duration/Length
For 2021, Pioneer Bank's most frequently cited loan duration was 3 Year, with 16 originations. The 2nd most popular length was 15 Year, with 14 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 6 | $350,000 | $58,333 |
Pioneer Bank's average total fees were $6,442, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 6 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 42 | $7,630,000 | $181,667 |
| 5-6% | 14 | $2,360,000 | $168,571 |
| 6-7% | 8 | $450,000 | $56,250 |
| 7-8% | 5 | $175,000 | $35,000 |
During 2021, Pioneer Bank's average interest rate for loans was 5.07%, while their most frequently originated rate bucket for loans was 4-5%, with 42 originations.
Loan Sizing
2021 saw Pioneer Bank place emphasis on $100,000 or less loans with 38 originations, totaling $1,890,000 in origination value.
Applicant Income
Pioneer Bank lent most frequently to those with incomes in the $50k or less range, with 14 originations. The second most popular income band? $50k-75k, with 12 originations.
Applicant Debt to Income Ratio
Pioneer Bank lent most frequently to those with DTI ratios of <20%, with 13 originations. The next most common DTI ratio? 20-30%, with 10 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 50 | $6,430,000 | $128,600 | $2,376 | 5.38% |
| Not applicable | 19 | $4,185,000 | $220,263 | $0 | 5.13% |
Approval Rates
Total approvals of all applications87.04%
Pioneer Bank has an average approval rate.
Pick Rate
Approvals leading to origination63.77%
Pioneer Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 50.0 | 1 | $75,000 | $75,000 |
| NA | 68 | $10,540,000 | $155,000 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| PMR Progressive, LLC | Conventional home mortgage | Trouble during payment process | 1 | 100.0% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Pioneer Bank | 2 St. Mary's Place Roswell, NM 88203 | Full Service B&M | $12,544 |
| Pioneer Bank | 1020 10th St Alamogordo, NM 88310 | Full Service B&M | $62,921 |
| Pioneer Bank | 1020 N Turner Hobbs, NM 88240 | Full Service B&M | $57,886 |
| Pioneer Bank | 1095 Mechem Dr. Ruidoso, NM 88345 | Full Service B&M | $67,334 |
| Pioneer Bank | 111 N. Canal Carlsbad, NM 88220 | Full Service B&M | $105,924 |
| Pioneer Bank | 1600 West Joe Harvey Hobbs, NM 88240 | Full Service B&M | $13,010 |
| Pioneer Bank | 2900 Roadrunner Parkway Las Cruces, NM 88011 | Full Service B&M | $20,703 |
| Pioneer Bank | 300 South Sunset Avenue Roswell, NM 88203 | Limited, Drive-thru | $0 |
| Pioneer Bank | 3000 North Main Street Roswell, NM 88201 | Full Service B&M | $220,623 |
| Pioneer Bank | 306 North Pennsylvania Avenue Roswell, NM 88201 | Full Service B&M | $93,768 |
| Pioneer Bank | 3831 East Lohman Ave Las Cruces, NM 88011 | Full Service B&M | $90,407 |
| Pioneer Bank | 705 East University Avenue Las Cruces, NM 88001 | Full Service B&M | $32,578 |
For 2021, Pioneer Bank had 12 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $29,097 |
| Net interest income | $28,459 |
| Total noninterest income | $9,467 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $3,890 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $5,577 |
| Pre-tax net operating income | $13,742 |
| Securities gains (or losses, -) | $-29 |
| Income before extraordinary items | $13,713 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $13,713 |
| Minority interest net income | $0 |
| Net income | $13,713 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $13,742 |
Pioneer Bank's gross interest income from loans was $29,097,000.
Pioneer Bank's net interest income from loans was $28,459,000.
Pioneer Bank's fee based income from loans was $3,890,000.
Pioneer Bank's net income from loans was $13,713,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $638 |
| Provision for credit losses | $643 |
| Total noninterest expense | $23,541 |
| Salaries and employee benefits | $10,686 |
| Premises and equipment expense | $2,964 |
| Additional noninterest expense | $9,891 |
| Applicable income taxes | $0 |
| Net charge-offs | $229 |
| Cash dividends | $8,500 |
Pioneer Bank's interest expense for loans was $638,000.
Pioneer Bank's payroll and benefits expense were $10,686,000.
Pioneer Bank's property, plant and equipment expenses $2,964,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 0.0% |
| Real Estate loans | 1.0% |
| 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 | $805,136 |
| Deposits held in domestic offices | $805,136 |
| Deposits by Individuals, partnerships, and corporations | $681,471 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $123,176 |
| Deposits by Commercial banks and other depository institutions in U.S. | $489 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $327,845 |
| Demand deposits | $286,840 |
| Nontransaction accounts | $477,291 |
| Money market deposit accounts (MMDAs) | $108,752 |
| Other savings deposits (excluding MMDAs) | $282,552 |
| Total time deposits | $85,988 |
| Total time and savings deposits | $518,296 |
| Noninterest-bearing deposits | $259,808 |
| Interest-bearing deposits | $545,328 |
| Retail deposits | $780,102 |
| IRAs and Keogh plan accounts | $11,915 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $991,305 |
| Cash & Balances due from depository institutions | $90,698 |
| Interest-bearing balances | $76,612 |
| Total securities | $358,066 |
| Federal funds sold & reverse repurchase | $1 |
| Net loans and leases | $486,364 |
| Loan and leases loss allowance | $6,046 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $28,522 |
| Other real estate owned | $106 |
| Goodwill and other intangibles | $0 |
| All other assets | $27,548 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $991,305 |
| Total Liabilities | $902,366 |
| Total deposits | $805,136 |
| Interest-bearing deposits | $545,328 |
| Deposits held in domestic offices | $805,136 |
| % insured (estimated) | $70 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $80,606 |
| Subordinated debt | $0 |
| All other liabilities | $16,624 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $486,364 |
| Loan and leases loss allowance | $6,046 |
| Total loans and leases (domestic) | $492,410 |
| All real estate loans | $368,893 |
| Real estate loans in domestic offices | $368,893 |
| Construction and development loans | $116,330 |
| Residential 1-4 family construction | $62,798 |
| Other construction, all land development and other land | $53,532 |
| Loans secured by nonfarm nonresidential properties | $133,621 |
| Nonfarm nonresidential secured by owner-occupied properties | $65,863 |
| Commercial real estate & other non-farm, non-residential | $67,758 |
| Multifamily residential real estate | $28,370 |
| 1-4 family residential loans | $90,572 |
| Farmland loans | $0 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $100,464 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $8,309 |
| Credit card loans | $0 |
| Related Plans | $20 |
| Consumer Auto Loans | $2,300 |
| Other loans to individuals | $5,989 |
| All other loans & leases | $14,745 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $0 |
| Loans to depository institutions and acceptances of other banks | $13,797 |
| Loans not secured by real estate | $0 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $518 |
| Non 1-4 family restructured loans & leases | $353 |
| Total loans and leases (foreign) | $0 |
Pioneer Bank had $486,364,000 of loans outstanding in 2021. $368,893,000 of loans were in real estate loans. $116,330,000 of loans were in development loans. $28,370,000 of loans were in multifamily mortgage loans. $90,572,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $2,300,000 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 | 119 | $34,942 | $293,630 |
| Nonfarm, nonresidential loans - <$100k | 19 | $857 | $45,105 |
| Nonfarm, nonresidential loans - $100-250k | 41 | $5,261 | $128,317 |
| Nonfarm, nonresidential loans - $250k-1MM | 59 | $28,824 | $488,542 |
| Commercial & Industrial, US addressed loans - <$1MM | 333 | $31,071 | $93,306 |
| Commercial & Industrial, US addressed loans - <$100k | 226 | $6,239 | $27,606 |
| Commercial & Industrial, US addressed loans - $100-250k | 49 | $5,467 | $111,571 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 58 | $19,365 | $333,879 |