Select Bank & Trust Company Mortgage Rates, Fees & Info
Dunn, NCLEI: 549300ZWYZY3FEPUIJ64
Tax ID: 56-2183600
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Bank Data
Review & Overview
Select Bank & Trust Company is a smaller bank specializing in Home Purchase and Refi loans. Select Bank & Trust Company has a high proportion of conventional loans. Their top markets by origination volume include: Wilmington, Fayetteville, Greenville, Raleigh, and Elizabeth City among others. We have data for 21 markets. (Some data included below & more in-depth data is available with an active subscription.)Select Bank & Trust Company has an above average approval rate when compared to the average across all lenders.
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Originations
174Origination Dollar Volume (All Markets)
$56,570,000Employee count
205Top 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 |
|---|---|---|---|---|---|
| WILMINGTON, NC (FHA|USDA|VA) | 16 | $14,680,000 | $917,500 | $0 | 0.00% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 16 | $10,790,000 | $674,375 | $0 | 0.00% |
| GREENVILLE, NC (FHA|USDA|VA) | 42 | $9,800,000 | $233,333 | $0 | 0.00% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 9 | $2,945,000 | $327,222 | $0 | 0.00% |
| Elizabeth City, NC (FHA|USDA|VA) | 25 | $2,915,000 | $116,600 | $0 | 0.00% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 4 | $2,890,000 | $722,500 | $0 | 0.00% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 4 | $2,330,000 | $582,500 | $0 | 0.00% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 13 | $1,865,000 | $143,462 | $0 | 0.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 3 | $1,725,000 | $575,000 | $0 | 0.00% |
| Wilson, NC (FHA|USDA|VA) | 4 | $1,420,000 | $355,000 | $0 | 0.00% |
| GOLDSBORO, NC (FHA|USDA|VA) | 6 | $1,070,000 | $178,333 | $0 | 0.00% |
| Kinston, NC (FHA|USDA|VA) | 3 | $1,055,000 | $351,667 | $0 | 0.00% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 3 | $935,000 | $311,667 | $0 | 0.00% |
| BURLINGTON, NC (FHA|USDA|VA) | 11 | $875,000 | $79,545 | $0 | 0.00% |
| Outside of Metro Areas | 4 | $350,000 | $87,500 | $0 | 0.00% |
| Washington, NC (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $0 | 0.00% |
| Morehead City, NC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| NEW BERN, NC (FHA|USDA|VA) | 4 | $170,000 | $42,500 | $0 | 0.00% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 2 | $140,000 | $70,000 | $0 | 0.00% |
| ROCKY MOUNT, NC (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
| Lumberton, NC (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 174 | $56,570,000 | $325,115 | $0 | 0.00% |
For 2018, Select Bank & Trust Company's most frequently originated type of loan was Conventional, with 174 originations.
Loan Reason
For 2018, Select Bank & Trust Company's most frequently cited loan purpose was Home Purchase, with 124 originations. The 2nd most popular reason was Refi, with 44 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 174 | $56,570,000 | $325,115 | $0 | 0.00% |
For 2018, Select Bank & Trust Company's most frequently cited loan duration was Other, with 174 originations.
Loan Sizing
2018 saw Select Bank & Trust Company place emphasis on $100,000 or less loans with 70 originations, totaling $4,340,000 in origination value.
Applicant Income
Select Bank & Trust Company lent most frequently to those with incomes in the $100k-150k range, with 14 originations. The second most popular income band? $150k-250k, with 11 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 174 | $56,570,000 | $325,115 | $0 | 0.00% |
Select Bank & Trust Company lent most frequently to those with DTI ratios of Exempt%, with 174 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.43%
Select Bank & Trust Company has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 174 | $56,570,000 | $325,115 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Select Financial Services, Inc. | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 11.1% |
| Select Financial Services, Inc. | Conventional home mortgage | Struggling to pay mortgage | 2 | 22.2% |
| Select Financial Services, Inc. | Conventional home mortgage | Trouble during payment process | 2 | 22.2% |
| Select Financial Services, Inc. | FHA mortgage | Struggling to pay mortgage | 1 | 11.1% |
| Select Financial Services, Inc. | Other type of mortgage | Struggling to pay mortgage | 1 | 11.1% |
| Select Financial Services, Inc. | Other type of mortgage | Trouble during payment process | 2 | 22.2% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Select Bank & Trust Company | 1001 Military Cutoff Road, Suite 100 Wilmington, NC 28405 | Full Service B&M | $21,461 |
| Select Bank & Trust Company | 1101 New Pointe Boulevard Leland, NC 28451 | Full Service B&M | $12,176 |
| Select Bank & Trust Company | 111 Northeast Boulevard Clinton, NC 28328 | Full Service B&M | $40,438 |
| Select Bank & Trust Company | 115 N. Main Street Six Mile, SC 29682 | Full Service B&M | $10,490 |
| Select Bank & Trust Company | 13024 Ballantyne Corporate Place Charlotte, NC 28277 | Full Service B&M | $128,116 |
| Select Bank & Trust Company | 155 North Market Street, Suite 103 Washington, NC 27889 | Full Service B&M | $14,326 |
| Select Bank & Trust Company | 168 Nc Highway 24 Morehead City, NC 28557 | Full Service B&M | $21,098 |
| Select Bank & Trust Company | 201 Oakland Drive Rock Hill, SC 29730 | Full Service B&M | $15,278 |
| Select Bank & Trust Company | 203 West Cherokee Street Blacksburg, SC 29702 | Full Service B&M | $23,745 |
| Select Bank & Trust Company | 2818 Raeford Road Fayetteville, NC 28303 | Full Service B&M | $117,003 |
| Select Bank & Trust Company | 3158 South Church Street Burlington, NC 27215 | Full Service B&M | $46,412 |
| Select Bank & Trust Company | 3600 Charles Boulevard Greenville, NC 27858 | Full Service B&M | $109,860 |
| Select Bank & Trust Company | 416 South Hughes Boulevard Elizabeth City, NC 27909 | Full Service B&M | $64,885 |
| Select Bank & Trust Company | 431 North Spence Avenue Goldsboro, NC 27534 | Full Service B&M | $79,158 |
| Select Bank & Trust Company | 4400 Fayetteville Road Lumberton, NC 28358 | Full Service B&M | $47,282 |
| Select Bank & Trust Company | 4505 Falls Of Neuse Road, Suite 100/150 Raleigh, NC 27609 | Full Service B&M | $27,174 |
| Select Bank & Trust Company | 700 West Cumberland Street Dunn, NC 28335 | Full Service B&M | $189,868 |
| Select Bank & Trust Company | 818 Mckinney Parkway Lillington, NC 27546 | Full Service B&M | $25,032 |
For 2018, Select Bank & Trust Company had 18 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $57,381 |
| Net interest income | $48,456 |
| Total noninterest income | $3,656 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $1,124 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $2,532 |
| Pre-tax net operating income | $18,951 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $14,779 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $14,779 |
| Minority interest net income | $0 |
| Net income | $14,779 |
| Sale, conversion, retirement of capital stock, net | $178 |
| Net operating income | $14,779 |
Select Bank & Trust Company's gross interest income from loans was $57,381,000.
Select Bank & Trust Company's net interest income from loans was $48,456,000.
Select Bank & Trust Company's fee based income from loans was $1,124,000.
Select Bank & Trust Company's net income from loans was $14,779,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $8,925 |
| Provision for credit losses | $-156 |
| Total noninterest expense | $33,317 |
| Salaries and employee benefits | $18,023 |
| Premises and equipment expense | $3,240 |
| Additional noninterest expense | $12,054 |
| Applicable income taxes | $4,172 |
| Net charge-offs | $9 |
| Cash dividends | $820 |
Select Bank & Trust Company's interest expense for loans was $8,925,000.
Select Bank & Trust Company's payroll and benefits expense were $18,023,000.
Select Bank & Trust Company's property, plant and equipment expenses $3,240,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 1.0% |
| 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 | 1.0% |
| HELOC loans | 2.0% |
| All other family | 1.0% |
| Commercial & industrial loans | 6.0% |
| 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 | $1,015,376 |
| Deposits held in domestic offices | $1,015,376 |
| Deposits by Individuals, partnerships, and corporations | $968,305 |
| Deposits by U.S. Government | $3,951 |
| Deposits by States and political subdivisions in the U.S. | $38,417 |
| Deposits by Commercial banks and other depository institutions in U.S. | $4,702 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $105,095 |
| Demand deposits | $82,729 |
| Nontransaction accounts | $910,280 |
| Money market deposit accounts (MMDAs) | $170,927 |
| Other savings deposits (excluding MMDAs) | $312,227 |
| Total time deposits | $427,126 |
| Total time and savings deposits | $932,646 |
| Noninterest-bearing deposits | $281,955 |
| Interest-bearing deposits | $733,421 |
| Retail deposits | $845,861 |
| IRAs and Keogh plan accounts | $25,470 |
| Brokered deposits | $48,676 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $1,257,836 |
| Cash & Balances due from depository institutions | $139,362 |
| Interest-bearing balances | $122,303 |
| Total securities | $51,533 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $977,951 |
| Loan and leases loss allowance | $8,669 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $18,588 |
| Other real estate owned | $1,088 |
| Goodwill and other intangibles | $26,769 |
| All other assets | $42,545 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $1,257,836 |
| Total Liabilities | $1,076,394 |
| Total deposits | $1,015,376 |
| Interest-bearing deposits | $733,421 |
| Deposits held in domestic offices | $1,015,376 |
| % insured (estimated) | $76 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $52,000 |
| Subordinated debt | $0 |
| All other liabilities | $9,018 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $977,951 |
| Loan and leases loss allowance | $8,669 |
| Total loans and leases (domestic) | $986,620 |
| All real estate loans | $901,364 |
| Real estate loans in domestic offices | $901,364 |
| Construction and development loans | $170,404 |
| Residential 1-4 family construction | $64,917 |
| Other construction, all land development and other land | $105,487 |
| Loans secured by nonfarm nonresidential properties | $439,399 |
| Nonfarm nonresidential secured by owner-occupied properties | $181,787 |
| Commercial real estate & other non-farm, non-residential | $257,612 |
| Multifamily residential real estate | $63,459 |
| 1-4 family residential loans | $209,890 |
| Farmland loans | $18,212 |
| Loans held in foreign offices | $0 |
| Farm loans | $24,062 |
| Commercial and industrial loans | $50,119 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $5,136 |
| Credit card loans | $0 |
| Related Plans | $1,527 |
| Consumer Auto Loans | $930 |
| Other loans to individuals | $2,679 |
| All other loans & leases | $7,678 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $7,678 |
| 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 | $4,274 |
| Non 1-4 family restructured loans & leases | $3,532 |
| Total loans and leases (foreign) | $0 |
Select Bank & Trust Company had $977,951,000 of loans outstanding in 2018. $901,364,000 of loans were in real estate loans. $170,404,000 of loans were in development loans. $63,459,000 of loans were in multifamily mortgage loans. $209,890,000 of loans were in 1-4 family mortgage loans. $24,062,000 of loans were in farm loans. $0 of loans were in credit card loans. $930,000 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 | 585 | $152,420 | $260,547 |
| Nonfarm, nonresidential loans - <$100k | 105 | $4,370 | $41,619 |
| Nonfarm, nonresidential loans - $100-250k | 170 | $23,102 | $135,894 |
| Nonfarm, nonresidential loans - $250k-1MM | 310 | $124,948 | $403,058 |
| Commercial & Industrial, US addressed loans - <$1MM | 494 | $38,320 | $77,571 |
| Commercial & Industrial, US addressed loans - <$100k | 298 | $5,020 | $16,846 |
| Commercial & Industrial, US addressed loans - $100-250k | 99 | $8,341 | $84,253 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 97 | $24,959 | $257,309 |
| Farmland loans - <$1MM | 51 | $6,357 | $124,647 |
| Farmland loans - <$100k | 16 | $590 | $36,875 |
| Farmland loans - $100-250k | 24 | $2,702 | $112,583 |
| Farmland loans - $250k-1MM | 11 | $3,065 | $278,636 |
| Agriculture operations loans - <$1MM | 30 | $3,478 | $115,933 |
| Agriculture operations loans - <$100k | 12 | $201 | $16,750 |
| Agriculture operations loans - $100-250k | 10 | $1,209 | $120,900 |
| Agriculture operations loans - $250k-1MM | 8 | $2,068 | $258,500 |