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, Pensacola, and Grenada among others. We have data for 8 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

    196

    Origination Dollar Volume (All Markets)

    $27,380,000

    Employee count

    55

    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) 158 $16,200,000 $102,532 $0 0.00%
    Oxford, MS (FHA|USDA|VA) 22 $8,870,000 $403,182 $0 0.00%
    Outside of Metro Areas 10 $790,000 $79,000 $0 0.00%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $755,000 $755,000 $0 0.00%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $365,000 $365,000 $0 0.00%
    Grenada, MS (FHA|USDA|VA) 2 $160,000 $80,000 $0 0.00%
    Starkville, MS (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
    Tupelo, MS (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%
    Sycamore Bank's top markets include Memphis, Oxford, Nashville, Pensacola, 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 196 $27,380,000 $139,694 $0 0.00%

    For 2021, Sycamore Bank's most frequently originated type of loan was Conventional, with 196 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 124 $15,830,000 $127,661 $0 0.00%
    Home Purchase 39 $8,245,000 $211,410 $0 0.00%
    Home Improvement 25 $2,675,000 $107,000 $0 0.00%
    Other 8 $630,000 $78,750 $0 0.00%

    For 2021, Sycamore Bank's most frequently cited loan purpose was Refi, with 124 originations. The 2nd most popular reason was Home Purchase, with 39 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 196 $27,380,000 $139,694 $0 0.00%

    For 2021, Sycamore Bank's most frequently cited loan duration was Other, with 196 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 123 $5,825,000 $47,358 $0 0.00%
    $100k-200k 44 $6,160,000 $140,000 $0 0.00%
    $200k-400k 19 $5,185,000 $272,895 $0 0.00%
    $1MM+ 4 $6,940,000 $1,735,000 $0 0.00%
    $400k-600k 4 $1,810,000 $452,500 $0 0.00%
    $600k-1MM 2 $1,460,000 $730,000 $0 0.00%

    2021 saw Sycamore Bank place emphasis on $100,000 or less loans with 123 originations, totaling $5,825,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 43 $2,405,000 $55,930 $0 0.00%
    $50k-75k 41 $2,605,000 $63,537 $0 0.00%
    $75k-100k 28 $2,380,000 $85,000 $0 0.00%
    $100k-150k 25 $2,665,000 $106,600 $0 0.00%
    $150k-250k 13 $3,095,000 $238,077 $0 0.00%
    $250k+ 7 $1,815,000 $259,286 $0 0.00%

    Sycamore Bank lent most frequently to those with incomes in the $50k or less range, with 43 originations. The second most popular income band? $50k-75k, with 41 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 196 $27,380,000 $139,694 $0 0.00%

    Sycamore Bank lent most frequently to those with DTI ratios of Exempt%, with 196 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 132 $13,630,000 $103,258 $0 0.00%
    Not applicable 39 $12,415,000 $318,333 $0 0.00%
    Black 23 $1,175,000 $51,087 $0 0.00%
    Asian 2 $160,000 $80,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.77%

    Sycamore Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    95.92%

    Sycamore Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 196 $27,380,000 $139,694

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    196 $27,380,000 $139,694

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Sycamore Bank 1025 East Commerce Street Hernando, MS 38632 Full Service B&M $30,663
    Sycamore Bank 1328 North Lamar Blvd, Suite 104 Oxford, MS 38655 Full Service B&M $0
    Sycamore Bank 301 East Main Street Senatobia, MS 38668 Full Service B&M $163,676
    Sycamore Bank 409 Central Coldwater, MS 38618 Full Service B&M $37,226
    Sycamore Bank 5825 Highway 305 Coldwater, MS 38618 Full Service B&M $35,575
    Sycamore Bank 6830 Getwell Road Southaven, MS 38672 Full Service B&M $14,747

    For 2021, Sycamore Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $9,915
    Net interest income $9,257
    Total noninterest income $4,623
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $995
    Trading account gains and fees $0
    Additional Noninterest Income $3,628
    Pre-tax net operating income $4,980
    Securities gains (or losses, -) $-15
    Income before extraordinary items $3,945
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,945
    Minority interest net income $0
    Net income $3,945
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,956

    Sycamore Bank's gross interest income from loans was $9,915,000.
    Sycamore Bank's net interest income from loans was $9,257,000.
    Sycamore Bank's fee based income from loans was $995,000.
    Sycamore Bank's net income from loans was $3,945,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $658
    Provision for credit losses $90
    Total noninterest expense $8,810
    Salaries and employee benefits $4,645
    Premises and equipment expense $1,084
    Additional noninterest expense $3,081
    Applicable income taxes $1,020
    Net charge-offs $1
    Cash dividends $1,343

    Sycamore Bank's interest expense for loans was $658,000.
    Sycamore Bank's payroll and benefits expense were $4,645,000.
    Sycamore Bank's property, plant and equipment expenses $1,084,000.

    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 $288,874
    Deposits held in domestic offices $288,874
    Deposits by Individuals, partnerships, and corporations $248,509
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $40,258
    Deposits by Commercial banks and other depository institutions in U.S. $107
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $135,915
    Demand deposits $115,543
    Nontransaction accounts $152,959
    Money market deposit accounts (MMDAs) $49,992
    Other savings deposits (excluding MMDAs) $57,817
    Total time deposits $45,150
    Total time and savings deposits $173,331
    Noninterest-bearing deposits $58,863
    Interest-bearing deposits $230,011
    Retail deposits $285,500
    IRAs and Keogh plan accounts $8,488
    Brokered deposits $813
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $318,023
    Cash & Balances due from depository institutions $74,622
    Interest-bearing balances $67,573
    Total securities $72,467
    Federal funds sold & reverse repurchase $0
    Net loans and leases $155,968
    Loan and leases loss allowance $2,092
    Trading account assets $0
    Bank premises and fixed assets $5,250
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $9,716

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $318,023
    Total Liabilities $291,505
    Total deposits $288,874
    Interest-bearing deposits $230,011
    Deposits held in domestic offices $288,874
    % insured (estimated) $77
    Federal funds purchased and repurchase agreements $673
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $1,958

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $155,968
    Loan and leases loss allowance $2,092
    Total loans and leases (domestic) $158,060
    All real estate loans $133,601
    Real estate loans in domestic offices $133,601
    Construction and development loans $14,550
    Residential 1-4 family construction $4,013
    Other construction, all land development and other land $10,537
    Loans secured by nonfarm nonresidential properties $55,356
    Nonfarm nonresidential secured by owner-occupied properties $29,450
    Commercial real estate & other non-farm, non-residential $25,906
    Multifamily residential real estate $1,672
    1-4 family residential loans $49,161
    Farmland loans $12,862
    Loans held in foreign offices $0
    Farm loans $2,134
    Commercial and industrial loans $12,373
    To non-U.S. addressees $0
    Loans to individuals $7,781
    Credit card loans $0
    Related Plans $7
    Consumer Auto Loans $3,163
    Other loans to individuals $4,611
    All other loans & leases $2,171
    Loans to foreign governments and official institutions $0
    Other loans $2,171
    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 $745
    Non 1-4 family restructured loans & leases $745
    Total loans and leases (foreign) $0

    Sycamore Bank had $155,968,000 of loans outstanding in 2021. $133,601,000 of loans were in real estate loans. $14,550,000 of loans were in development loans. $1,672,000 of loans were in multifamily mortgage loans. $49,161,000 of loans were in 1-4 family mortgage loans. $2,134,000 of loans were in farm loans. $0 of loans were in credit card loans. $3,163,000 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 83 $29,412 $354,361
    Nonfarm, nonresidential loans - <$100k 24 $1,024 $42,667
    Nonfarm, nonresidential loans - $100-250k 26 $3,544 $136,308
    Nonfarm, nonresidential loans - $250k-1MM 33 $24,844 $752,848
    Commercial & Industrial, US addressed loans - <$1MM 171 $8,857 $51,795
    Commercial & Industrial, US addressed loans - <$100k 130 $3,272 $25,169
    Commercial & Industrial, US addressed loans - $100-250k 27 $1,985 $73,519
    Commercial & Industrial, US addressed loans - $250k-1MM 14 $3,600 $257,143
    Farmland loans - <$1MM 69 $7,990 $115,797
    Farmland loans - <$100k 33 $1,427 $43,242
    Farmland loans - $100-250k 27 $3,952 $146,370
    Farmland loans - $250k-1MM 9 $2,611 $290,111
    Agriculture operations loans - <$1MM 74 $2,134 $28,838
    Agriculture operations loans - <$100k 69 $1,258 $18,232
    Agriculture operations loans - $100-250k 3 $262 $87,333
    Agriculture operations loans - $250k-1MM 2 $614 $307,000