Sycamore Bank Mortgage Rates, Fees & Info

Senatobia, MS

LEI: 549300UBL8B7C63DKZ49

Tax ID: 64-0236520

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

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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, Nashville, and Grenada 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

    185

    Origination Dollar Volume (All Markets)

    $22,665,000

    Employee count

    58

    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) 150 $15,010,000 $100,067 $0 0.00%
    Oxford, MS (FHA|USDA|VA) 12 $3,790,000 $315,833 $0 0.00%
    Outside of Metro Areas 20 $2,940,000 $147,000 $0 0.00%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $755,000 $755,000 $0 0.00%
    Grenada, MS (FHA|USDA|VA) 2 $170,000 $85,000 $0 0.00%
    Sycamore Bank's top markets include Memphis, Oxford, Nashville, and Grenada among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 185 $22,665,000 $122,514 $0 0.00%

    For 2020, Sycamore Bank's most frequently originated type of loan was Conventional, with 185 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 112 $11,010,000 $98,304 $0 0.00%
    Home Purchase 41 $9,845,000 $240,122 $0 0.00%
    Home Improvement 22 $1,120,000 $50,909 $0 0.00%
    Other 10 $690,000 $69,000 $0 0.00%

    For 2020, Sycamore Bank's most frequently cited loan purpose was Refi, with 112 originations. The 2nd most popular reason was Home Purchase, with 41 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 185 $22,665,000 $122,514 $0 0.00%

    For 2020, Sycamore Bank's most frequently cited loan duration was Other, with 185 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 125 $5,565,000 $44,520 $0 0.00%
    $100k-200k 36 $5,280,000 $146,667 $0 0.00%
    $200k-400k 14 $3,530,000 $252,143 $0 0.00%
    $1MM+ 4 $4,560,000 $1,140,000 $0 0.00%
    $400k-600k 3 $1,605,000 $535,000 $0 0.00%
    $600k-1MM 3 $2,125,000 $708,333 $0 0.00%

    2020 saw Sycamore Bank place emphasis on $100,000 or less loans with 125 originations, totaling $5,565,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 53 $2,725,000 $51,415 $0 0.00%
    $50k-75k 33 $2,505,000 $75,909 $0 0.00%
    $100k-150k 24 $3,990,000 $166,250 $0 0.00%
    $75k-100k 22 $1,810,000 $82,273 $0 0.00%
    $150k-250k 18 $3,160,000 $175,556 $0 0.00%
    $250k+ 3 $835,000 $278,333 $0 0.00%

    Sycamore Bank lent most frequently to those with incomes in the $50k or less range, with 53 originations. The second most popular income band? $50k-75k, with 33 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 185 $22,665,000 $122,514 $0 0.00%

    Sycamore Bank lent most frequently to those with DTI ratios of Exempt%, with 185 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 127 $14,585,000 $114,843 $0 0.00%
    Not applicable 28 $6,690,000 $238,929 $0 0.00%
    Black 30 $1,390,000 $46,333 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.84%

    Sycamore Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    92.97%

    Sycamore Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 185 $22,665,000 $122,514

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $3,000,000 $750,000
    Single Family (1-4 Units):Manufactured 34 $1,930,000 $56,765
    Single Family (1-4 Units):Site-Built 147 $17,735,000 $120,646

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Sycamore Bank 1025 East Commerce Street Hernando, MS 38632 Full Service B&M $24,338
    Sycamore Bank 301 East Main Street Senatobia, MS 38668 Full Service B&M $135,235
    Sycamore Bank 409 Central Coldwater, MS 38618 Full Service B&M $34,473
    Sycamore Bank 6830 Getwell Road Southaven, MS 38672 Full Service B&M $13,870
    Sycamore Bank Highway 305 Independence, MS 38638 Full Service B&M $28,806

    For 2020, Sycamore Bank had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $10,194
    Net interest income $9,138
    Total noninterest income $2,416
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $970
    Trading account gains and fees $0
    Additional Noninterest Income $1,446
    Pre-tax net operating income $2,664
    Securities gains (or losses, -) $58
    Income before extraordinary items $2,204
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,204
    Minority interest net income $0
    Net income $2,204
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,157

    Sycamore Bank's gross interest income from loans was $10,194,000.
    Sycamore Bank's net interest income from loans was $9,138,000.
    Sycamore Bank's fee based income from loans was $970,000.
    Sycamore Bank's net income from loans was $2,204,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,056
    Provision for credit losses $570
    Total noninterest expense $8,320
    Salaries and employee benefits $4,136
    Premises and equipment expense $990
    Additional noninterest expense $3,194
    Applicable income taxes $518
    Net charge-offs $57
    Cash dividends $776

    Sycamore Bank's interest expense for loans was $1,056,000.
    Sycamore Bank's payroll and benefits expense were $4,136,000.
    Sycamore Bank's property, plant and equipment expenses $990,000.

    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 $248,976
    Deposits held in domestic offices $248,976
    Deposits by Individuals, partnerships, and corporations $216,802
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $32,102
    Deposits by Commercial banks and other depository institutions in U.S. $72
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $119,834
    Demand deposits $98,250
    Nontransaction accounts $129,142
    Money market deposit accounts (MMDAs) $35,382
    Other savings deposits (excluding MMDAs) $46,327
    Total time deposits $47,433
    Total time and savings deposits $150,726
    Noninterest-bearing deposits $44,626
    Interest-bearing deposits $204,350
    Retail deposits $244,667
    IRAs and Keogh plan accounts $9,174
    Brokered deposits $807
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $276,105
    Cash & Balances due from depository institutions $32,758
    Interest-bearing balances $25,934
    Total securities $63,661
    Federal funds sold & reverse repurchase $0
    Net loans and leases $165,047
    Loan and leases loss allowance $2,003
    Trading account assets $0
    Bank premises and fixed assets $5,307
    Other real estate owned $456
    Goodwill and other intangibles $0
    All other assets $8,876

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $276,105
    Total Liabilities $251,258
    Total deposits $248,976
    Interest-bearing deposits $204,350
    Deposits held in domestic offices $248,976
    % insured (estimated) $80
    Federal funds purchased and repurchase agreements $545
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $1,737

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $165,047
    Loan and leases loss allowance $2,003
    Total loans and leases (domestic) $167,050
    All real estate loans $137,445
    Real estate loans in domestic offices $137,445
    Construction and development loans $20,962
    Residential 1-4 family construction $8,602
    Other construction, all land development and other land $12,360
    Loans secured by nonfarm nonresidential properties $47,937
    Nonfarm nonresidential secured by owner-occupied properties $23,263
    Commercial real estate & other non-farm, non-residential $24,674
    Multifamily residential real estate $1,747
    1-4 family residential loans $55,089
    Farmland loans $11,710
    Loans held in foreign offices $0
    Farm loans $3,890
    Commercial and industrial loans $15,090
    To non-U.S. addressees $0
    Loans to individuals $6,446
    Credit card loans $0
    Related Plans $12
    Consumer Auto Loans $2,520
    Other loans to individuals $3,914
    All other loans & leases $4,179
    Loans to foreign governments and official institutions $0
    Other loans $4,179
    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 $628
    Non 1-4 family restructured loans & leases $618
    Total loans and leases (foreign) $0

    Sycamore Bank had $165,047,000 of loans outstanding in 2020. $137,445,000 of loans were in real estate loans. $20,962,000 of loans were in development loans. $1,747,000 of loans were in multifamily mortgage loans. $55,089,000 of loans were in 1-4 family mortgage loans. $3,890,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,520,000 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 75 $17,504 $233,387
    Nonfarm, nonresidential loans - <$100k 23 $1,022 $44,435
    Nonfarm, nonresidential loans - $100-250k 26 $3,334 $128,231
    Nonfarm, nonresidential loans - $250k-1MM 26 $13,148 $505,692
    Commercial & Industrial, US addressed loans - <$1MM 179 $12,102 $67,609
    Commercial & Industrial, US addressed loans - <$100k 132 $3,010 $22,803
    Commercial & Industrial, US addressed loans - $100-250k 26 $2,200 $84,615
    Commercial & Industrial, US addressed loans - $250k-1MM 21 $6,892 $328,190
    Farmland loans - <$1MM 62 $7,240 $116,774
    Farmland loans - <$100k 30 $1,146 $38,200
    Farmland loans - $100-250k 23 $3,519 $153,000
    Farmland loans - $250k-1MM 9 $2,575 $286,111
    Agriculture operations loans - <$1MM 90 $3,890 $43,222
    Agriculture operations loans - <$100k 82 $2,599 $31,695
    Agriculture operations loans - $100-250k 7 $990 $141,429
    Agriculture operations loans - $250k-1MM 1 $301 $301,000