Pioneer Bank & Trust Mortgage Lending & HMDA Data, 2008
In 2008, Pioneer Bank & Trust of Spearfish, SD reported 286 mortgage applications totaling $33.8 million, up 20% from 2007. The average application was for $118,307, and applicants reported an average income of $73,395. 76% of its applications resulted in an originated loan and 16% were denied. Its largest markets were Rapid City, SD (132), Denver-Aurora, CO (1) and San Francisco-San Mateo-Redwood City, CA (1) (applications in parentheses).
| Mortgage Company & Address | Pioneer Bank & Trust 125 E Colorado Blvd Ste 1a Spearfish, SD 57783 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 286 |
| Total Mortgage Loan Application Amount | $33,836,000 |
| Average Mortgage Loan Application Amount | $118,307 |
| Highest Mortgage Loan Application Amount | $1,725,000 |
| Average Applicant Income | $73,395 |
| Highest Applicant Income | $899,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Pioneer Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Pennington, South Dakota | 105 | $ 12,362,000 | $ 117,733 | $ 80,000 |
| Lawrence, South Dakota | 65 | $ 10,414,000 | $ 160,215 | $ 73,000 |
| Butte, South Dakota | 53 | $ 4,062,000 | $ 76,641 | $ 54,000 |
| Meade, South Dakota | 27 | $ 3,284,000 | $ 121,629 | $ 67,000 |
| Harding, South Dakota | 12 | $ 976,000 | $ 81,333 | $ 73,000 |
| Crook, Wyoming | 5 | $ 620,000 | $ 124,000 | $ 43,000 |
| Custer, South Dakota | 3 | $ 339,000 | $ 113,000 | $ 35,000 |
| Carter, Montana | 2 | $ 394,000 | $ 197,000 | $ 74,000 |
| Campbell, Wyoming | 2 | $ 85,000 | $ 42,500 | $ 165,000 |
| San Francisco, California | 1 | $ 50,000 | $ 50,000 | $ 77,000 |
| Douglas, Colorado | 1 | $ 531,000 | $ 531,000 | $ 180,000 |
| Otero, Colorado | 1 | $ 40,000 | $ 40,000 | $ 0 |
| Gallatin, Montana | 1 | $ 108,000 | $ 108,000 | $ 110,000 |
| Powder River, Montana | 1 | $ 9,000 | $ 9,000 | $ 18,000 |
| Bowman, North Dakota | 1 | $ 218,000 | $ 218,000 | $ 52,000 |
| Stark, North Dakota | 1 | $ 61,000 | $ 61,000 | $ 123,000 |
| Williams, North Dakota | 1 | $ 157,000 | $ 157,000 | $ 725,000 |
| Fall River, South Dakota | 1 | $ 44,000 | $ 44,000 | $ 56,000 |
| Perkins, South Dakota | 1 | $ 9,000 | $ 9,000 | $ 70,000 |
Mortgage Loan Application Detail Totals for Pioneer Bank & Trust in 2008
Loan Purpose |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Home Purchase | 133 | $16,816,000 | $126,000 | $1,725,000 | $75,000 | $725,000 |
| Refinancing | 113 | $14,844,000 | $131,000 | $743,000 | $72,000 | $731,000 |
| Home Improvement | 40 | $2,176,000 | $54,000 | $346,000 | $72,000 | $899,000 |
Applicant Race |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| White | 270 | $30,987,000 | $114,000 | $1,725,000 | $76,000 | $899,000 |
| Not applicable | 12 | $2,553,000 | $212,000 | $743,000 | $0 | $0 |
| Asian | 2 | $252,000 | $126,000 | $202,000 | $56,000 | $77,000 |
| Hispanic | 1 | $35,000 | $35,000 | $35,000 | $267,000 | $267,000 |
| American Indian or Alaskan Native | 1 | $9,000 | $9,000 | $9,000 | $18,000 | $18,000 |
| Not Provided | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
Loan Type |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 280 | $33,054,000 | $118,000 | $1,725,000 | $74,000 | $899,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 3 | $415,000 | $138,000 | $184,000 | $59,000 | $103,000 |
| VA-guaranteed (Veterans Administration) | 3 | $367,000 | $122,000 | $187,000 | $43,000 | $57,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
Outcome |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Loan Originated | 216 | $22,244,000 | $102,000 | $743,000 | $74,000 | $899,000 |
| Application Denied By Financial Institution | 46 | $7,765,000 | $168,000 | $1,725,000 | $65,000 | $345,000 |
| Application Withdrawn By Applicant | 13 | $2,376,000 | $182,000 | $531,000 | $80,000 | $180,000 |
| Application Approved But Not Accepted | 11 | $1,451,000 | $131,000 | $413,000 | $88,000 | $267,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
Denial Reason |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Credit History | 15 | $994,000 | $66,000 | $171,000 | $43,000 | $87,000 |
| Debt-To-Income Ratio | 14 | $2,366,000 | $169,000 | $800,000 | $87,000 | $345,000 |
| Collateral | 9 | $1,131,000 | $125,000 | $212,000 | $56,000 | $193,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 5 | $1,243,000 | $248,000 | $630,000 | $89,000 | $246,000 |
| Unverifiable Information | 2 | $306,000 | $153,000 | $197,000 | $43,000 | $58,000 |
| Other | 1 | $1,725,000 | $1,725,000 | $1,725,000 | $104,000 | $104,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Pioneer Bank & Trust's 2008 lending activity. By analyzing detailed data on mortgage applications, total loan amounts, applicant incomes, loan purposes, and approval rates, industry professionals, researchers, and analysts can gain a clear understanding of this lender's role in the mortgage market.
This in-depth HMDA data allows real estate experts, financial analysts, and policymakers to track lending trends, evaluate borrower demographics,
and assess Pioneer Bank & Trust's mortgage approval patterns.
Utilize this powerful dataset to analyze market performance, compare lending practices, and make data-driven decisions in the ever-changing mortgage industry.
For a list of all lenders in South Dakota, download the full spreadsheet
with aggregated HMDA statistics today.
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