Select Bank & Trust Company Mortgage Rates, Fees & Info
Dunn, NCLEI: 549300ZWYZY3FEPUIJ64
Tax ID: 56-2183600
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Review & Overview
Select Bank & Trust Company is a smaller bank specializing in Home Purchase loans. Select Bank & Trust Company has a high proportion of conventional loans. Their top markets by origination volume include: New Bern, Fayetteville, Myrtle Beach, Greenville, and Wilmington among others. We have data for 30 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
207Origination Dollar Volume (All Markets)
$126,125,000Employee count
246Top 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 |
|---|---|---|---|---|---|
| NEW BERN, NC (FHA|USDA|VA) | 9 | $30,155,000 | $3,350,556 | $0 | 0.00% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 15 | $14,505,000 | $967,000 | $0 | 0.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 4 | $11,840,000 | $2,960,000 | $0 | 0.00% |
| GREENVILLE, NC (FHA|USDA|VA) | 50 | $11,370,000 | $227,400 | $0 | 0.00% |
| WILMINGTON, NC (FHA|USDA|VA) | 24 | $10,590,000 | $441,250 | $0 | 0.00% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 14 | $10,200,000 | $728,571 | $0 | 0.00% |
| Roanoke Rapids, NC (FHA|USDA|VA) | 1 | $8,005,000 | $8,005,000 | $0 | 0.00% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 10 | $4,430,000 | $443,000 | $0 | 0.00% |
| FLORENCE, SC (FHA|USDA|VA) | 2 | $3,070,000 | $1,535,000 | $0 | 0.00% |
| Elizabeth City, NC (FHA|USDA|VA) | 24 | $2,740,000 | $114,167 | $0 | 0.00% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 1 | $2,505,000 | $2,505,000 | $0 | 0.00% |
| Morehead City, NC (FHA|USDA|VA) | 4 | $2,410,000 | $602,500 | $0 | 0.00% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 4 | $2,220,000 | $555,000 | $0 | 0.00% |
| Cullowhee, NC (FHA|USDA|VA) | 7 | $1,915,000 | $273,571 | $0 | 0.00% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1 | $1,805,000 | $1,805,000 | $0 | 0.00% |
| Outside of Metro Areas | 10 | $1,790,000 | $179,000 | $0 | 0.00% |
| SUMTER, SC (FHA|USDA|VA) | 1 | $1,465,000 | $1,465,000 | $0 | 0.00% |
| ROCKY MOUNT, NC (FHA|USDA|VA) | 2 | $1,210,000 | $605,000 | $0 | 0.00% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 4 | $820,000 | $205,000 | $0 | 0.00% |
| Wilson, NC (FHA|USDA|VA) | 3 | $815,000 | $271,667 | $0 | 0.00% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 3 | $605,000 | $201,667 | $0 | 0.00% |
| Washington, NC (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $0 | 0.00% |
| Lumberton, NC (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $0 | 0.00% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 0.00% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| BURLINGTON, NC (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $0 | 0.00% |
| Kinston, NC (FHA|USDA|VA) | 2 | $90,000 | $45,000 | $0 | 0.00% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
| Sanford, NC (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.00% |
| GOLDSBORO, NC (FHA|USDA|VA) | 2 | $40,000 | $20,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 207 | $126,125,000 | $609,300 | $0 | 0.00% |
For 2020, Select Bank & Trust Company's most frequently originated type of loan was Conventional, with 207 originations.
Loan Reason
For 2020, Select Bank & Trust Company's most frequently cited loan purpose was Home Purchase, with 159 originations. The 2nd most popular reason was Refi, with 41 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 207 | $126,125,000 | $609,300 | $0 | 0.00% |
For 2020, Select Bank & Trust Company's most frequently cited loan duration was Other, with 207 originations.
Loan Sizing
2020 saw Select Bank & Trust Company place emphasis on $100,000 or less loans with 63 originations, totaling $3,535,000 in origination value.
Applicant Income
Select Bank & Trust Company lent most frequently to those with incomes in the $250k+ range, with 16 originations. The second most popular income band? $75k-100k, with 10 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 207 | $126,125,000 | $609,300 | $0 | 0.00% |
Select Bank & Trust Company lent most frequently to those with DTI ratios of Exempt%, with 207 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.13%
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 origination90.34%
Select Bank & Trust Company has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 207 | $126,125,000 | $609,300 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Select Financial Services, Inc. | Conventional home mortgage | Struggling to pay mortgage | 2 | 66.7% |
| Select Financial Services, Inc. | FHA mortgage | Struggling to pay mortgage | 1 | 33.3% |
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 | $32,877 |
| Select Bank & Trust Company | 1101 New Pointe Boulevard Leland, NC 28451 | Full Service B&M | $21,320 |
| Select Bank & Trust Company | 111 Northeast Boulevard Clinton, NC 28328 | Full Service B&M | $41,484 |
| Select Bank & Trust Company | 13024 Ballantyne Corporate Place Charlotte, NC 28277 | Full Service B&M | $112,861 |
| Select Bank & Trust Company | 168 Nc Highway 24 Morehead City, NC 28557 | Full Service B&M | $28,401 |
| Select Bank & Trust Company | 18825 W. Catawba Avenue, Suite 100 Cornelius, NC 28031 | Full Service B&M | $2,883 |
| Select Bank & Trust Company | 201 Oakland Drive Rock Hill, SC 29730 | Full Service B&M | $17,696 |
| Select Bank & Trust Company | 203 West Cherokee Street Blacksburg, SC 29702 | Full Service B&M | $27,836 |
| Select Bank & Trust Company | 2818 Raeford Road Fayetteville, NC 28303 | Full Service B&M | $167,419 |
| Select Bank & Trust Company | 30 Hyatt Road Franklin, NC 28734 | Full Service B&M | $56,400 |
| Select Bank & Trust Company | 3158 South Church Street Burlington, NC 27215 | Full Service B&M | $67,944 |
| Select Bank & Trust Company | 3600 Charles Boulevard Greenville, NC 27858 | Full Service B&M | $133,119 |
| Select Bank & Trust Company | 416 South Hughes Boulevard Elizabeth City, NC 27909 | Full Service B&M | $64,596 |
| Select Bank & Trust Company | 431 North Spence Avenue Goldsboro, NC 27534 | Full Service B&M | $88,219 |
| Select Bank & Trust Company | 4400 Fayetteville Road Lumberton, NC 28358 | Full Service B&M | $49,567 |
| Select Bank & Trust Company | 4505 Falls Of Neuse Road, Suite 100/150 Raleigh, NC 27609 | Full Service B&M | $42,522 |
| Select Bank & Trust Company | 473 Carolina Way Highlands, NC 28741 | Full Service B&M | $75,619 |
| Select Bank & Trust Company | 498 E Main St Sylva, NC 28779 | Full Service B&M | $70,212 |
| Select Bank & Trust Company | 5070 Kentworth Drive Holly Springs, NC 27540 | Full Service B&M | $11,390 |
| Select Bank & Trust Company | 621 Nevan Road Virginia Beach, VA 23451 | Full Service B&M | $27,764 |
| Select Bank & Trust Company | 700 West Cumberland Street Dunn, NC 28334 | Full Service B&M | $181,943 |
| Select Bank & Trust Company | 818 Mckinney Parkway Lillington, NC 27546 | Full Service B&M | $34,815 |
For 2020, Select Bank & Trust Company had 22 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $63,594 |
| Net interest income | $53,199 |
| Total noninterest income | $4,781 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $1,092 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $3,689 |
| Pre-tax net operating income | $11,879 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $9,384 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $9,384 |
| Minority interest net income | $0 |
| Net income | $9,384 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $9,384 |
Select Bank & Trust Company's gross interest income from loans was $63,594,000.
Select Bank & Trust Company's net interest income from loans was $53,199,000.
Select Bank & Trust Company's fee based income from loans was $1,092,000.
Select Bank & Trust Company's net income from loans was $9,384,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $10,395 |
| Provision for credit losses | $6,244 |
| Total noninterest expense | $39,857 |
| Salaries and employee benefits | $22,674 |
| Premises and equipment expense | $3,544 |
| Additional noninterest expense | $13,639 |
| Applicable income taxes | $2,495 |
| Net charge-offs | $460 |
| Cash dividends | $372 |
Select Bank & Trust Company's interest expense for loans was $10,395,000.
Select Bank & Trust Company's payroll and benefits expense were $22,674,000.
Select Bank & Trust Company's property, plant and equipment expenses $3,544,000.
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 | 3.0% |
| Credit card loans | 0.0% |
| Other individual loans | 3.0% |
| Auto loans | 0.0% |
| Other consumer loans | 4.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $1,500,320 |
| Deposits held in domestic offices | $1,500,320 |
| Deposits by Individuals, partnerships, and corporations | $1,428,671 |
| Deposits by U.S. Government | $9,814 |
| Deposits by States and political subdivisions in the U.S. | $61,836 |
| 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 | $139,753 |
| Demand deposits | $89,660 |
| Nontransaction accounts | $1,360,568 |
| Money market deposit accounts (MMDAs) | $493,089 |
| Other savings deposits (excluding MMDAs) | $479,098 |
| Total time deposits | $388,381 |
| Total time and savings deposits | $1,410,661 |
| Noninterest-bearing deposits | $410,420 |
| Interest-bearing deposits | $1,089,900 |
| Retail deposits | $1,365,181 |
| IRAs and Keogh plan accounts | $32,925 |
| Brokered deposits | $1,099 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $1,723,148 |
| Cash & Balances due from depository institutions | $110,443 |
| Interest-bearing balances | $87,399 |
| Total securities | $194,492 |
| Federal funds sold & reverse repurchase | $5,364 |
| Net loans and leases | $1,292,340 |
| Loan and leases loss allowance | $14,108 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $29,145 |
| Other real estate owned | $2,172 |
| Goodwill and other intangibles | $44,616 |
| All other assets | $44,576 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $1,723,148 |
| Total Liabilities | $1,516,536 |
| Total deposits | $1,500,320 |
| Interest-bearing deposits | $1,089,900 |
| Deposits held in domestic offices | $1,500,320 |
| % insured (estimated) | $72 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $0 |
| All other liabilities | $16,216 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $1,292,340 |
| Loan and leases loss allowance | $14,108 |
| Total loans and leases (domestic) | $1,306,448 |
| All real estate loans | $1,177,474 |
| Real estate loans in domestic offices | $1,177,474 |
| Construction and development loans | $236,546 |
| Residential 1-4 family construction | $72,840 |
| Other construction, all land development and other land | $163,706 |
| Loans secured by nonfarm nonresidential properties | $581,328 |
| Nonfarm nonresidential secured by owner-occupied properties | $248,276 |
| Commercial real estate & other non-farm, non-residential | $333,052 |
| Multifamily residential real estate | $82,508 |
| 1-4 family residential loans | $249,898 |
| Farmland loans | $27,194 |
| Loans held in foreign offices | $0 |
| Farm loans | $16,020 |
| Commercial and industrial loans | $109,832 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $3,908 |
| Credit card loans | $0 |
| Related Plans | $1,591 |
| Consumer Auto Loans | $935 |
| Other loans to individuals | $1,382 |
| All other loans & leases | $3,214 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $3,214 |
| 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 | $6,906 |
| Non 1-4 family restructured loans & leases | $5,092 |
| Total loans and leases (foreign) | $0 |
Select Bank & Trust Company had $1,292,340,000 of loans outstanding in 2020. $1,177,474,000 of loans were in real estate loans. $236,546,000 of loans were in development loans. $82,508,000 of loans were in multifamily mortgage loans. $249,898,000 of loans were in 1-4 family mortgage loans. $16,020,000 of loans were in farm loans. $0 of loans were in credit card loans. $935,000 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 | 678 | $182,429 | $269,069 |
| Nonfarm, nonresidential loans - <$100k | 114 | $4,090 | $35,877 |
| Nonfarm, nonresidential loans - $100-250k | 190 | $24,774 | $130,389 |
| Nonfarm, nonresidential loans - $250k-1MM | 374 | $153,565 | $410,602 |
| Commercial & Industrial, US addressed loans - <$1MM | 1,250 | $77,932 | $62,346 |
| Commercial & Industrial, US addressed loans - <$100k | 934 | $23,116 | $24,749 |
| Commercial & Industrial, US addressed loans - $100-250k | 184 | $18,719 | $101,734 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 132 | $36,097 | $273,462 |
| Farmland loans - <$1MM | 39 | $5,670 | $145,385 |
| Farmland loans - <$100k | 8 | $368 | $46,000 |
| Farmland loans - $100-250k | 21 | $2,623 | $124,905 |
| Farmland loans - $250k-1MM | 10 | $2,679 | $267,900 |
| Agriculture operations loans - <$1MM | 30 | $2,758 | $91,933 |
| Agriculture operations loans - <$100k | 15 | $226 | $15,067 |
| Agriculture operations loans - $100-250k | 6 | $596 | $99,333 |
| Agriculture operations loans - $250k-1MM | 9 | $1,936 | $215,111 |