Bancorpsouth Bank

Tupelo, MS 38804

LEI: Q7C315HKI8VX0SSKBS64

Tax ID: 64-0117230

2019 Data | 2018 Data


Overview

Bancorpsouth Bank is a small mortgage company specializing in Home Purchase and Refi loans. Bancorpsouth Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Houston, Memphis, Jackson, Birmingham, and Nashville among others. They have an average approval rate for mortages when compared nationally -- and they have a below average pick rate when compared to the same sample of other lendors. Bancorpsouth Bank is typically a low fee lendor.


Originations

15,128

Origination Dollar Volume (All Markets)

$2,766,380,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 12,893 $2,383,275,000 $184,850
FHA 1,626 $264,270,000 $162,528
VA 349 $82,475,000 $236,318
USDA 260 $36,360,000 $139,846

Conventional loans are assumed to be 20% downpayment and either fixed/adjustable rate. FHA loans start at 3.5% downpayment and are targeted towards first time homebuyers who will be owner-occupants. USDA loans target agrarian uses such as farms. VA loans are available to members of the military. FHA, USDA and VA loans are typically subsidized by the government so as to have more favorable terms for the borrower.

Loan Reason

Loan Reason Originations Total Value Average Loan
Home Purchase 8,041 $1,750,405,000 $217,685
Home Improvement 197 $29,095,000 $147,690
Other 2,910 $244,000,000 $83,849
Refi 3,312 $595,430,000 $179,780
Cash Out Refi 668 $147,450,000 $220,734

Home purchase and refinance loans are typically offered by even the most prudent banks. Cash out refi loans typically carry higher fees-- they allow homeowners to get loans against the equity (appreciated value) of their home, but can be used irresponsibly. Lendors with a high ratio of cash out refi loans may be exposed in the event of an economic downturn, and may be more aggressive with their fee schedules.

Top Markets

Market Originations Total Value Average Loan
Outside of Metro Areas 3,736 $472,700,000 $126,526
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 668 $226,850,000 $339,596
MEMPHIS, TN-MS-AR 1,482 $226,650,000 $152,935
JACKSON, MS 1,319 $202,905,000 $153,832
BIRMINGHAM-HOOVER, AL 644 $136,630,000 $212,158
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 574 $127,140,000 $221,498
AUSTIN-ROUND ROCK-GEORGETOWN, TX 326 $126,570,000 $388,252
GULFPORT-BILOXI, MS 563 $93,955,000 $166,883
DALLAS-PLANO-IRVING, TX 281 $91,505,000 $325,641
HUNTSVILLE, AL 359 $85,135,000 $237,145
SHREVEPORT-BOSSIER CITY, LA 353 $69,125,000 $195,822
DAPHNE-FAIRHOPE-FOLEY, AL 272 $68,160,000 $250,588
SPRINGFIELD, MO 404 $60,870,000 $150,668
MOBILE, AL 309 $51,945,000 $168,107
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 193 $49,845,000 $258,264
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR 257 $44,015,000 $171,265
FAYETTEVILLE-SPRINGDALE-ROGERS, AR 174 $38,930,000 $223,736
MONROE, LA 303 $38,865,000 $128,267
BATON ROUGE, LA 195 $38,815,000 $199,051
JACKSON, TN 332 $38,470,000 $115,873
HATTIESBURG, MS 270 $36,610,000 $135,593
FORT SMITH, AR-OK 345 $36,315,000 $105,261
LAKE CHARLES, LA 58 $34,460,000 $594,138
NEW ORLEANS-METAIRIE, LA 62 $31,490,000 $507,903
LAFAYETTE, LA 163 $28,945,000 $177,577
ST. LOUIS, MO-IL 84 $27,560,000 $328,095
TUSCALOOSA, AL 141 $26,845,000 $190,390
KILLEEN-TEMPLE, TX 139 $26,495,000 $190,612
LONGVIEW, TX 133 $21,505,000 $161,692
TEXARKANA, TX-AR 131 $19,845,000 $151,489
JONESBORO, AR 118 $18,450,000 $156,356
TYLER, TX 92 $18,010,000 $195,761
PANAMA CITY, FL 36 $12,260,000 $340,556
AUBURN-OPELIKA, AL 86 $11,570,000 $134,535
FORT WORTH-ARLINGTON-GRAPEVINE, TX 47 $11,035,000 $234,787
HOT SPRINGS, AR 34 $9,190,000 $270,294
ALEXANDRIA, LA 59 $9,055,000 $153,475
CHATTANOOGA, TN-GA 33 $8,985,000 $272,273
CLEVELAND, TN 51 $7,685,000 $150,686
CORPUS CHRISTI, TX 13 $7,515,000 $578,077
PENSACOLA-FERRY PASS-BRENT, FL 24 $5,970,000 $248,750
SAN ANTONIO-NEW BRAUNFELS, TX 16 $5,730,000 $358,125
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 17 $4,385,000 $257,941
DECATUR, AL 30 $4,020,000 $134,000
NAPLES-MARCO ISLAND, FL 8 $3,870,000 $483,750
LAS VEGAS-HENDERSON-PARADISE, NV 2 $3,850,000 $1,925,000
SHERMAN-DENISON, TX 23 $3,525,000 $153,261
OKLAHOMA CITY, OK 11 $3,055,000 $277,727
MONTGOMERY, AL 20 $2,560,000 $128,000
BEAUMONT-PORT ARTHUR, TX 4 $2,530,000 $632,500
TAMPA-ST. PETERSBURG-CLEARWATER, FL 7 $2,405,000 $343,571
COLLEGE STATION-BRYAN, TX 6 $1,880,000 $313,333
GAINESVILLE, FL 5 $1,625,000 $325,000
MIDLAND, TX 3 $1,625,000 $541,667
JACKSONVILLE, FL 5 $1,425,000 $285,000
KNOXVILLE, TN 4 $1,330,000 $332,500
MCALLEN-EDINBURG-MISSION, TX 2 $1,220,000 $610,000
RALEIGH-CARY, NC 2 $1,180,000 $590,000
CLARKSVILLE, TN-KY 6 $1,160,000 $193,333
ORLANDO-KISSIMMEE-SANFORD, FL 4 $1,150,000 $287,500
NORTH PORT-SARASOTA-BRADENTON, FL 5 $1,115,000 $223,000
GADSDEN, AL 13 $1,015,000 $78,077
FLORENCE-MUSCLE SHOALS, AL 7 $865,000 $123,571
PINE BLUFF, AR 8 $820,000 $102,500
CHARLESTON-NORTH CHARLESTON, SC 2 $800,000 $400,000
DENVER-AURORA-LAKEWOOD, CO 2 $790,000 $395,000
WACO, TX 6 $790,000 $131,667
COLORADO SPRINGS, CO 2 $750,000 $375,000
DALTON, GA 2 $730,000 $365,000
LAKELAND-WINTER HAVEN, FL 3 $695,000 $231,667
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 1 $655,000 $655,000
CHICAGO-NAPERVILLE-EVANSTON, IL 2 $630,000 $315,000
THE VILLAGES, FL 2 $530,000 $265,000
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 1 $515,000 $515,000
KANSAS CITY, MO-KS 2 $490,000 $245,000
ANNISTON-OXFORD, AL 2 $480,000 $240,000
ASHEVILLE, NC 1 $475,000 $475,000
JOPLIN, MO 2 $430,000 $215,000
GREENSBORO-HIGH POINT, NC 1 $425,000 $425,000
BLOOMINGTON, IN 1 $425,000 $425,000
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 1 $405,000 $405,000
PORT ST. LUCIE, FL 1 $385,000 $385,000
HOUMA-THIBODAUX, LA 1 $385,000 $385,000
COLUMBUS, GA-AL 3 $385,000 $128,333
AMARILLO, TX 1 $385,000 $385,000
MORGANTOWN, WV 1 $375,000 $375,000
BRUNSWICK, GA 1 $365,000 $365,000
LUBBOCK, TX 3 $335,000 $111,667
LEXINGTON-FAYETTE, KY 2 $330,000 $165,000
MACON-BIBB COUNTY, GA 1 $295,000 $295,000
ALBUQUERQUE, NM 1 $245,000 $245,000
FAYETTEVILLE, NC 1 $235,000 $235,000
ROANOKE, VA 1 $235,000 $235,000
EVANSVILLE, IN-KY 1 $235,000 $235,000
COLUMBIA, MO 1 $225,000 $225,000
PALM BAY-MELBOURNE-TITUSVILLE, FL 1 $215,000 $215,000
TULSA, OK 1 $165,000 $165,000
HAMMOND, LA 1 $155,000 $155,000
VICTORIA, TX 1 $145,000 $145,000
PHOENIX-MESA-CHANDLER, AZ 1 $55,000 $55,000

Lendors vary in competitiveness at the per market level-- meaning they may have better terms, deals or promotions based on the mortgaged property's location.

Interest Rate & Spreads

Loan Rate Originations Total Value Average Loan
<2.5% 215 $1,475,000 $6,860
2.5-3% 28 $6,270,000 $223,929
3-4% 3,875 $914,935,000 $236,112
4-5% 5,247 $1,082,165,000 $206,245
5-6% 5,010 $654,300,000 $130,599
6-7% 690 $102,370,000 $148,362
7-8% 63 $4,865,000 $77,222

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 5,754 $286,160,000 $49,732
$100k-200k 4,893 $711,585,000 $145,429
$200k-400k 3,471 $941,085,000 $271,128
$400k-600k 670 $313,820,000 $468,388
$600k-1000k 208 $154,430,000 $742,452
$Over $1MM 132 $359,300,000 $2,721,970

Different banks have different objectives. Some banks focus solely on high net worth individuals. Others focus on FHA loans for lower income applicants. Knowing what a bank specializes in allows better optimization given the applicant's financial situation.

LTV Distribution

Loan to Value Originations Total Value Average Loan
20-40% 1,876 $172,790,000 $92,106
40-60% 1,388 $260,900,000 $187,968
60-80% 3,255 $875,115,000 $268,853
80-100% 6,225 $1,315,835,000 $211,379
Over 100% 161 $42,785,000 $265,745
Under 20% 2,218 $94,980,000 $42,822

LTV, or loan-to-value, is the amount loaned relative to a home's value. Lower LTV lending implies a larger downpayment-- reducing risk to the lendor. FHA loans will nearly always have a higher LTV due to the lower downpayment requirements. Higher LTVs may also mean a bank is charging higher fees or interest rates to compensate for their risk exposure.

Applicant Income

Applicant Income Originations Total Value Average Loan
$100k-150k 2,606 $446,210,000 $171,224
$150k-250k 1,792 $379,980,000 $212,042
$50k-75k 2,930 $388,030,000 $132,433
$50k-or less 3,041 $285,805,000 $93,984
$75k-100k 2,038 $304,650,000 $149,485
$Over $250k 1,244 $456,560,000 $367,010

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 11,172 $1,847,350,000 $165,355
Not applicable 1,167 $461,455,000 $395,420
Black 1,890 $244,360,000 $129,291
Not provided 544 $138,630,000 $254,835
Asian 220 $52,060,000 $236,636
American Indian 63 $10,765,000 $170,873
Asian Indian 17 $3,835,000 $225,588
Native Hawaiian 22 $3,470,000 $157,727
Other Asian 16 $3,010,000 $188,125
Chinese 5 $525,000 $105,000
Vietnamese 5 $445,000 $89,000
Filipino 2 $190,000 $95,000
Other Pacific Islander 3 $105,000 $35,000
Korean 1 $105,000 $105,000
Native Hawiian 1 $75,000 $75,000

Approval Rates

Total approvals of all applications
88.09%

A high approval rate means banks are more selective in who they market to or that they are loosey-goosey with who they lend to. Low approval rates may mean a lendor is more stringent in their lending standards.

Pick Rate

Approvals leading to origination
81.20%

A bank's pick rate is how often they are chosen by an applicant once approved. A high pick rate typically means the bank has some sort of advantage-- either the best terms (rates/fees), fastest closing time or even the best customer service. Banks with <75% pick rate may need further investigation as to why they are not more competitive.

Points and Fees

Points Originations Total Value Average Loan
0.0 2 $80,000 $40,000
NA 15,126 $2,766,300,000 $182,884

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 7,869 $1,510,415,000 $191,945
$1k-2k 1,225 $288,495,000 $235,506
$2k-3k 304 $66,800,000 $219,737
$3k-4k 158 $43,010,000 $272,215
$5k+ 31 $12,305,000 $396,935

Banks make money on their float/interest spread (fees charged to borrowers vs fees they pay for their capital), for servicing loans, as well as charging origination fees when a loan is disbursed. Modern low-cost efficient lendors can have fees totaling less than $500 for many mortgages-- as low as $250 in some cases. Average lendors will be in the $1k-2k range and high cost lendors will be even more. The costs incurred by the bank will be similar no matter the loan amount, so this is to be viewed as a profit center for most banks.

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
Multifamily:Manufactured 11 $10,145,000 $922,273
Multifamily:Site-Built 218 $277,070,000 $1,270,963
Single Family (1-4 Units):Manufactured 67 $3,155,000 $47,090
Single Family (1-4 Units):Site-Built 14,832 $2,476,010,000 $166,937