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: Elizabeth City, Wilmington, Greenville, Charlotte, and Sanford among others. We have data for 19 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. They have an above average pick rate when compared to similar lenders.
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Originations
135Origination Dollar Volume (All Markets)
$50,695,000Employee count
213Top 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 |
|---|---|---|---|---|---|
| Elizabeth City, NC (FHA|USDA|VA) | 19 | $12,115,000 | $637,632 | $0 | 0.00% |
| WILMINGTON, NC (FHA|USDA|VA) | 19 | $7,845,000 | $412,895 | $0 | 0.00% |
| GREENVILLE, NC (FHA|USDA|VA) | 37 | $6,115,000 | $165,270 | $0 | 0.00% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 3 | $4,945,000 | $1,648,333 | $0 | 0.00% |
| Sanford, NC (FHA|USDA|VA) | 1 | $4,605,000 | $4,605,000 | $0 | 0.00% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 9 | $3,755,000 | $417,222 | $0 | 0.00% |
| Outside of Metro Areas | 3 | $3,685,000 | $1,228,333 | $0 | 0.00% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 12 | $2,990,000 | $249,167 | $0 | 0.00% |
| NEW BERN, NC (FHA|USDA|VA) | 4 | $1,220,000 | $305,000 | $0 | 0.00% |
| GOLDSBORO, NC (FHA|USDA|VA) | 7 | $845,000 | $120,714 | $0 | 0.00% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 4 | $630,000 | $157,500 | $0 | 0.00% |
| BURLINGTON, NC (FHA|USDA|VA) | 6 | $630,000 | $105,000 | $0 | 0.00% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $0 | 0.00% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 3 | $275,000 | $91,667 | $0 | 0.00% |
| Morehead City, NC (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $0 | 0.00% |
| Wilson, NC (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $0 | 0.00% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
| Lumberton, NC (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
| Gaffney, SC (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 135 | $50,695,000 | $375,519 | $0 | 0.00% |
For 2019, Select Bank & Trust Company's most frequently originated type of loan was Conventional, with 135 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 106 | $38,260,000 | $360,943 | $0 | 0.00% |
| Refi | 25 | $12,145,000 | $485,800 | $0 | 0.00% |
| Home Improvement | 4 | $290,000 | $72,500 | $0 | 0.00% |
For 2019, Select Bank & Trust Company's most frequently cited loan purpose was Home Purchase, with 106 originations. The 2nd most popular reason was Refi, with 25 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 135 | $50,695,000 | $375,519 | $0 | 0.00% |
For 2019, Select Bank & Trust Company's most frequently cited loan duration was Other, with 135 originations.
Loan Sizing
2019 saw Select Bank & Trust Company place emphasis on $100,000 or less loans with 51 originations, totaling $2,855,000 in origination value.
Applicant Income
Select Bank & Trust Company lent most frequently to those with incomes in the $150k-250k range, with 9 originations. The second most popular income band? $250k+, with 9 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 135 | $50,695,000 | $375,519 | $0 | 0.00% |
Select Bank & Trust Company lent most frequently to those with DTI ratios of Exempt%, with 135 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.99%
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 origination91.85%
Select Bank & Trust Company has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 135 | $50,695,000 | $375,519 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Select Financial Services, Inc. | Conventional home mortgage | Struggling to pay mortgage | 1 | 20.0% |
| Select Financial Services, Inc. | Conventional home mortgage | Trouble during payment process | 1 | 20.0% |
| Select Financial Services, Inc. | FHA mortgage | Struggling to pay mortgage | 1 | 20.0% |
| Select Financial Services, Inc. | Other type of mortgage | Closing on a mortgage | 1 | 20.0% |
| Select Financial Services, Inc. | Other type of mortgage | Trouble during payment process | 1 | 20.0% |
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 | $30,553 |
| Select Bank & Trust Company | 1101 New Pointe Boulevard Leland, NC 28451 | Full Service B&M | $15,434 |
| Select Bank & Trust Company | 111 Northeast Boulevard Clinton, NC 28328 | Full Service B&M | $40,663 |
| Select Bank & Trust Company | 115 N. Main Street Six Mile, SC 29682 | Full Service B&M | $5,222 |
| Select Bank & Trust Company | 13024 Ballantyne Corporate Place Charlotte, NC 28277 | Full Service B&M | $110,745 |
| Select Bank & Trust Company | 155 North Market Street, Suite 103 Washington, NC 27889 | Full Service B&M | $17,603 |
| Select Bank & Trust Company | 168 Nc Highway 24 Morehead City, NC 28557 | Full Service B&M | $24,237 |
| Select Bank & Trust Company | 201 Oakland Drive Rock Hill, SC 29730 | Full Service B&M | $17,349 |
| Select Bank & Trust Company | 203 West Cherokee Street Blacksburg, SC 29702 | Full Service B&M | $27,274 |
| Select Bank & Trust Company | 2818 Raeford Road Fayetteville, NC 28303 | Full Service B&M | $143,992 |
| Select Bank & Trust Company | 3158 South Church Street Burlington, NC 27215 | Full Service B&M | $52,486 |
| Select Bank & Trust Company | 3600 Charles Boulevard Greenville, NC 27858 | Full Service B&M | $123,889 |
| Select Bank & Trust Company | 416 South Hughes Boulevard Elizabeth City, NC 27909 | Full Service B&M | $64,539 |
| Select Bank & Trust Company | 431 North Spence Avenue Goldsboro, NC 27534 | Full Service B&M | $80,792 |
| Select Bank & Trust Company | 4400 Fayetteville Road Lumberton, NC 28358 | Full Service B&M | $50,230 |
| Select Bank & Trust Company | 4505 Falls Of Neuse Road, Suite 100/150 Raleigh, NC 27609 | Full Service B&M | $28,162 |
| Select Bank & Trust Company | 5070 Kentworth Drive Holly Springs, NC 27540 | Full Service B&M | $817 |
| Select Bank & Trust Company | 621 Nevan Road Virginia Beach, VA 23451 | Full Service B&M | $25,732 |
| Select Bank & Trust Company | 700 West Cumberland Street Dunn, NC 28334 | Full Service B&M | $173,019 |
| Select Bank & Trust Company | 818 Mckinney Parkway Lillington, NC 27546 | Full Service B&M | $31,066 |
For 2019, Select Bank & Trust Company had 20 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $58,901 |
| Net interest income | $47,907 |
| Total noninterest income | $4,397 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $1,161 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $3,236 |
| Pre-tax net operating income | $18,420 |
| Securities gains (or losses, -) | $48 |
| Income before extraordinary items | $14,462 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $14,462 |
| Minority interest net income | $0 |
| Net income | $14,462 |
| Sale, conversion, retirement of capital stock, net | $239 |
| Net operating income | $14,424 |
Select Bank & Trust Company's gross interest income from loans was $58,901,000.
Select Bank & Trust Company's net interest income from loans was $47,907,000.
Select Bank & Trust Company's fee based income from loans was $1,161,000.
Select Bank & Trust Company's net income from loans was $14,462,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $10,994 |
| Provision for credit losses | $438 |
| Total noninterest expense | $33,446 |
| Salaries and employee benefits | $19,806 |
| Premises and equipment expense | $3,246 |
| Additional noninterest expense | $10,394 |
| Applicable income taxes | $4,006 |
| Net charge-offs | $783 |
| Cash dividends | $565 |
Select Bank & Trust Company's interest expense for loans was $10,994,000.
Select Bank & Trust Company's payroll and benefits expense were $19,806,000.
Select Bank & Trust Company's property, plant and equipment expenses $3,246,000.
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 | 2.0% |
| Personal loans | 2.0% |
| Credit card loans | 0.0% |
| Other individual loans | 2.0% |
| Auto loans | 0.0% |
| Other consumer loans | 3.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $1,015,032 |
| Deposits held in domestic offices | $1,015,032 |
| Deposits by Individuals, partnerships, and corporations | $967,679 |
| Deposits by U.S. Government | $4,298 |
| Deposits by States and political subdivisions in the U.S. | $43,054 |
| Deposits by Commercial banks and other depository institutions in U.S. | $0 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $93,658 |
| Demand deposits | $68,857 |
| Nontransaction accounts | $921,373 |
| Money market deposit accounts (MMDAs) | $186,675 |
| Other savings deposits (excluding MMDAs) | $305,439 |
| Total time deposits | $429,259 |
| Total time and savings deposits | $946,174 |
| Noninterest-bearing deposits | $262,499 |
| Interest-bearing deposits | $752,533 |
| Retail deposits | $823,170 |
| IRAs and Keogh plan accounts | $25,852 |
| Brokered deposits | $41,470 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $1,274,031 |
| Cash & Balances due from depository institutions | $69,667 |
| Interest-bearing balances | $50,920 |
| Total securities | $72,367 |
| Federal funds sold & reverse repurchase | $9,049 |
| Net loans and leases | $1,022,578 |
| Loan and leases loss allowance | $8,324 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $26,387 |
| Other real estate owned | $3,533 |
| Goodwill and other intangibles | $26,303 |
| All other assets | $44,147 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $1,274,031 |
| Total Liabilities | $1,077,494 |
| Total deposits | $1,015,032 |
| Interest-bearing deposits | $752,533 |
| Deposits held in domestic offices | $1,015,032 |
| % insured (estimated) | $72 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $53,813 |
| Subordinated debt | $0 |
| All other liabilities | $8,649 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $1,022,578 |
| Loan and leases loss allowance | $8,324 |
| Total loans and leases (domestic) | $1,030,902 |
| All real estate loans | $947,254 |
| Real estate loans in domestic offices | $947,254 |
| Construction and development loans | $221,879 |
| Residential 1-4 family construction | $68,346 |
| Other construction, all land development and other land | $153,533 |
| Loans secured by nonfarm nonresidential properties | $439,414 |
| Nonfarm nonresidential secured by owner-occupied properties | $203,237 |
| Commercial real estate & other non-farm, non-residential | $236,177 |
| Multifamily residential real estate | $69,123 |
| 1-4 family residential loans | $197,138 |
| Farmland loans | $19,700 |
| Loans held in foreign offices | $0 |
| Farm loans | $23,110 |
| Commercial and industrial loans | $52,638 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $5,665 |
| Credit card loans | $0 |
| Related Plans | $3,322 |
| Consumer Auto Loans | $770 |
| Other loans to individuals | $1,573 |
| All other loans & leases | $4,349 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $4,349 |
| 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 | $6,340 |
| Non 1-4 family restructured loans & leases | $5,521 |
| Total loans and leases (foreign) | $0 |
Select Bank & Trust Company had $1,022,578,000 of loans outstanding in 2019. $947,254,000 of loans were in real estate loans. $221,879,000 of loans were in development loans. $69,123,000 of loans were in multifamily mortgage loans. $197,138,000 of loans were in 1-4 family mortgage loans. $23,110,000 of loans were in farm loans. $0 of loans were in credit card loans. $770,000 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 | 595 | $157,451 | $264,624 |
| Nonfarm, nonresidential loans - <$100k | 105 | $3,952 | $37,638 |
| Nonfarm, nonresidential loans - $100-250k | 178 | $23,970 | $134,663 |
| Nonfarm, nonresidential loans - $250k-1MM | 312 | $129,529 | $415,157 |
| Commercial & Industrial, US addressed loans - <$1MM | 470 | $35,903 | $76,389 |
| Commercial & Industrial, US addressed loans - <$100k | 279 | $4,851 | $17,387 |
| Commercial & Industrial, US addressed loans - $100-250k | 89 | $7,053 | $79,247 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 102 | $23,999 | $235,284 |
| Farmland loans - <$1MM | 43 | $5,956 | $138,512 |
| Farmland loans - <$100k | 10 | $394 | $39,400 |
| Farmland loans - $100-250k | 23 | $2,722 | $118,348 |
| Farmland loans - $250k-1MM | 10 | $2,840 | $284,000 |
| Agriculture operations loans - <$1MM | 31 | $2,840 | $91,613 |
| Agriculture operations loans - <$100k | 18 | $440 | $24,444 |
| Agriculture operations loans - $100-250k | 7 | $826 | $118,000 |
| Agriculture operations loans - $250k-1MM | 6 | $1,574 | $262,333 |