Sycamore Bank Mortgage Rates, Fees & Info

Senatobia, MS

LEI: 549300UBL8B7C63DKZ49

Tax ID: 64-0236520

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Sycamore Bank is a smaller bank specializing in Refi and Home Purchase loans. Sycamore Bank has a high proportion of conventional loans. Their top markets by origination volume include: Memphis, Oxford, Jackson, and Starkville among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Sycamore Bank has an above average approval rate when compared to the average across all lenders. They have an above 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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    Originations

    179

    Origination Dollar Volume (All Markets)

    $20,965,000

    Employee count

    60

    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
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 139 $13,925,000 $100,180 $0 0.00%
    Oxford, MS (FHA|USDA|VA) 25 $4,605,000 $184,200 $0 0.00%
    Outside of Metro Areas 13 $1,815,000 $139,615 $0 0.00%
    JACKSON, MS (FHA|USDA|VA) 1 $555,000 $555,000 $0 0.00%
    Starkville, MS (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
    Sycamore Bank's top markets include Memphis, Oxford, Jackson, and Starkville among others.

    Their top states include:
  • Mississippi (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 179 $20,965,000 $117,123 $0 0.00%

    For 2018, Sycamore Bank's most frequently originated type of loan was Conventional, with 179 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 94 $11,420,000 $121,489 $0 0.00%
    Home Purchase 50 $8,310,000 $166,200 $0 0.00%
    Home Improvement 24 $960,000 $40,000 $0 0.00%
    Other 9 $205,000 $22,778 $0 0.00%
    Cash Out Refi 2 $70,000 $35,000 $0 0.00%

    For 2018, Sycamore Bank's most frequently cited loan purpose was Refi, with 94 originations. The 2nd most popular reason was Home Purchase, with 50 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 179 $20,965,000 $117,123 $0 0.00%

    For 2018, Sycamore Bank's most frequently cited loan duration was Other, with 179 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 129 $5,955,000 $46,163 $0 0.00%
    $100k-200k 25 $3,495,000 $139,800 $0 0.00%
    $200k-400k 17 $4,295,000 $252,647 $0 0.00%
    $400k-600k 4 $2,050,000 $512,500 $0 0.00%
    $1MM+ 3 $4,285,000 $1,428,333 $0 0.00%
    $600k-1MM 1 $885,000 $885,000 $0 0.00%

    2018 saw Sycamore Bank place emphasis on $100,000 or less loans with 129 originations, totaling $5,955,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 42 $1,900,000 $45,238 $0 0.00%
    $50k-75k 39 $2,765,000 $70,897 $0 0.00%
    $100k-150k 19 $1,125,000 $59,211 $0 0.00%
    $75k-100k 13 $1,325,000 $101,923 $0 0.00%
    $150k-250k 9 $1,345,000 $149,444 $0 0.00%
    $250k+ 4 $710,000 $177,500 $0 0.00%

    Sycamore Bank lent most frequently to those with incomes in the $50k or less range, with 42 originations. The second most popular income band? $50k-75k, with 39 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 179 $20,965,000 $117,123 $0 0.00%

    Sycamore Bank lent most frequently to those with DTI ratios of Exempt%, with 179 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 47 $11,255,000 $239,468 $0 0.00%
    White 114 $8,780,000 $77,018 $0 0.00%
    Black 17 $905,000 $53,235 $0 0.00%
    Asian 1 $25,000 $25,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    94.53%

    Sycamore Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    93.85%

    Sycamore Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 179 $20,965,000 $117,123

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $285,000 $285,000
    Single Family (1-4 Units):Manufactured 31 $1,225,000 $39,516
    Single Family (1-4 Units):Site-Built 147 $19,455,000 $132,347

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Sycamore Bank 1025 East Commerce Street Hernando, MS 38632 Full Service B&M $32,921
    Sycamore Bank 301 East Main Street Senatobia, MS 38668 Full Service B&M $107,594
    Sycamore Bank 409 Central Coldwater, MS 38618 Full Service B&M $34,422
    Sycamore Bank 6830 Getwell Road Southaven, MS 38672 Full Service B&M $10,670
    Sycamore Bank Highway 305 Independence, MS 38638 Full Service B&M $23,777

    For 2018, Sycamore Bank had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $9,210
    Net interest income $8,231
    Total noninterest income $2,542
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,217
    Trading account gains and fees $0
    Additional Noninterest Income $1,325
    Pre-tax net operating income $2,754
    Securities gains (or losses, -) $-2
    Income before extraordinary items $2,203
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,203
    Minority interest net income $0
    Net income $2,203
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,204

    Sycamore Bank's gross interest income from loans was $9,210,000.
    Sycamore Bank's net interest income from loans was $8,231,000.
    Sycamore Bank's fee based income from loans was $1,217,000.
    Sycamore Bank's net income from loans was $2,203,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $979
    Provision for credit losses $242
    Total noninterest expense $7,777
    Salaries and employee benefits $3,923
    Premises and equipment expense $924
    Additional noninterest expense $2,930
    Applicable income taxes $549
    Net charge-offs $100
    Cash dividends $1,259

    Sycamore Bank's interest expense for loans was $979,000.
    Sycamore Bank's payroll and benefits expense were $3,923,000.
    Sycamore Bank's property, plant and equipment expenses $924,000.

    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 1.0%
    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 $192,431
    Deposits held in domestic offices $192,431
    Deposits by Individuals, partnerships, and corporations $172,997
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $19,353
    Deposits by Commercial banks and other depository institutions in U.S. $81
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $87,059
    Demand deposits $71,365
    Nontransaction accounts $105,372
    Money market deposit accounts (MMDAs) $24,734
    Other savings deposits (excluding MMDAs) $36,702
    Total time deposits $43,936
    Total time and savings deposits $121,066
    Noninterest-bearing deposits $32,409
    Interest-bearing deposits $160,022
    Retail deposits $189,699
    IRAs and Keogh plan accounts $8,677
    Brokered deposits $777
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $221,634
    Cash & Balances due from depository institutions $9,527
    Interest-bearing balances $3,899
    Total securities $43,148
    Federal funds sold & reverse repurchase $0
    Net loans and leases $153,498
    Loan and leases loss allowance $1,195
    Trading account assets $0
    Bank premises and fixed assets $5,536
    Other real estate owned $41
    Goodwill and other intangibles $0
    All other assets $9,884

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $221,634
    Total Liabilities $200,309
    Total deposits $192,431
    Interest-bearing deposits $160,022
    Deposits held in domestic offices $192,431
    % insured (estimated) $90
    Federal funds purchased and repurchase agreements $368
    Trading liabilities $0
    Other borrowed funds $6,000
    Subordinated debt $0
    All other liabilities $1,510

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $153,498
    Loan and leases loss allowance $1,195
    Total loans and leases (domestic) $154,693
    All real estate loans $128,816
    Real estate loans in domestic offices $128,816
    Construction and development loans $12,334
    Residential 1-4 family construction $4,004
    Other construction, all land development and other land $8,330
    Loans secured by nonfarm nonresidential properties $46,502
    Nonfarm nonresidential secured by owner-occupied properties $26,655
    Commercial real estate & other non-farm, non-residential $19,847
    Multifamily residential real estate $9,696
    1-4 family residential loans $49,442
    Farmland loans $10,842
    Loans held in foreign offices $0
    Farm loans $3,933
    Commercial and industrial loans $14,725
    To non-U.S. addressees $0
    Loans to individuals $6,996
    Credit card loans $0
    Related Plans $12
    Consumer Auto Loans $2,544
    Other loans to individuals $4,440
    All other loans & leases $223
    Loans to foreign governments and official institutions $0
    Other loans $223
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $2,584
    Non 1-4 family restructured loans & leases $2,131
    Total loans and leases (foreign) $0

    Sycamore Bank had $153,498,000 of loans outstanding in 2018. $128,816,000 of loans were in real estate loans. $12,334,000 of loans were in development loans. $9,696,000 of loans were in multifamily mortgage loans. $49,442,000 of loans were in 1-4 family mortgage loans. $3,933,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,544,000 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 74 $18,337 $247,797
    Nonfarm, nonresidential loans - <$100k 19 $908 $47,789
    Nonfarm, nonresidential loans - $100-250k 29 $4,062 $140,069
    Nonfarm, nonresidential loans - $250k-1MM 26 $13,367 $514,115
    Commercial & Industrial, US addressed loans - <$1MM 178 $12,353 $69,399
    Commercial & Industrial, US addressed loans - <$100k 135 $2,939 $21,770
    Commercial & Industrial, US addressed loans - $100-250k 23 $2,421 $105,261
    Commercial & Industrial, US addressed loans - $250k-1MM 20 $6,993 $349,650
    Farmland loans - <$1MM 66 $6,251 $94,712
    Farmland loans - <$100k 43 $1,862 $43,302
    Farmland loans - $100-250k 12 $1,626 $135,500
    Farmland loans - $250k-1MM 11 $2,763 $251,182
    Agriculture operations loans - <$1MM 95 $2,764 $29,095
    Agriculture operations loans - <$100k 88 $1,498 $17,023
    Agriculture operations loans - $100-250k 5 $690 $138,000
    Agriculture operations loans - $250k-1MM 2 $576 $288,000