Pioneer Bank & Trust Mortgage Lending & HMDA Data, 2005
In 2005, Pioneer Bank & Trust of Spearfish, SD reported 315 mortgage applications totaling $27.1 million, down 10% from 2004. The average application was for $85,968, and applicants reported an average income of $52,330. 81% of its applications resulted in an originated loan and 11% were denied. Its largest markets were Rapid City, SD (159), Boulder, CO (1) and Sioux Falls, SD (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 | 315 |
| Total Mortgage Loan Application Amount | $27,080,000 |
| Average Mortgage Loan Application Amount | $85,968 |
| Highest Mortgage Loan Application Amount | $734,000 |
| Average Applicant Income | $52,330 |
| Highest Applicant Income | $386,000 |
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Act (HMDA) records Pioneer Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Pioneer Bank & Trust in 2005
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 | 154 | $14,870,000 | $147,428 | $734,000 | $71,714 | $380,000 |
| Refinancing | 116 | $11,663,000 | $150,500 | $303,000 | $207,000 | $386,000 |
| Home Improvement | 45 | $547,000 | $12,750 | $80,000 | $18,500 | $191,000 |
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 | 294 | $25,481,000 | $131,142 | $734,000 | $69,142 | $386,000 |
| Not applicable | 11 | $1,083,000 | $112,000 | $164,000 | $0 | $0 |
| Hispanic | 4 | $268,000 | $67,000 | $122,000 | $49,000 | $85,000 |
| Not Provided | 3 | $196,000 | $54,000 | $164,000 | $39,000 | $44,000 |
| Black or African American | 2 | $49,000 | $24,000 | $41,000 | $15,000 | $30,000 |
| American Indian or Alaskan Native | 1 | $3,000 | $3,000 | $3,000 | $25,000 | $25,000 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 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) | 309 | $26,232,000 | $130,875 | $734,000 | $60,375 | $386,000 |
| VA-guaranteed (Veterans Administration) | 5 | $709,000 | $141,000 | $191,000 | $38,000 | $60,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 1 | $139,000 | $139,000 | $139,000 | $0 | $0 |
| 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 | 254 | $20,984,000 | $146,714 | $734,000 | $63,142 | $380,000 |
| Application Denied By Financial Institution | 35 | $2,417,000 | $44,500 | $296,000 | $37,000 | $119,000 |
| Application Approved But Not Accepted | 18 | $2,674,000 | $148,000 | $272,000 | $49,000 | $118,000 |
| Application Withdrawn By Applicant | 5 | $443,000 | $88,000 | $140,000 | $33,000 | $40,000 |
| File Closed For Incompleteness | 3 | $562,000 | $187,000 | $303,000 | $187,000 | $386,000 |
| 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 | 13 | $944,000 | $72,000 | $229,000 | $40,000 | $86,000 |
| Debt-To-Income Ratio | 13 | $951,000 | $48,500 | $296,000 | $35,500 | $119,000 |
| Collateral | 4 | $273,000 | $68,000 | $122,000 | $55,000 | $73,000 |
| Employment History | 2 | $50,000 | $25,000 | $35,000 | $19,000 | $38,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $85,000 | $85,000 | $85,000 | $0 | $0 |
| Other | 1 | $72,000 | $72,000 | $72,000 | $61,000 | $61,000 |
| Unverifiable Information | 1 | $42,000 | $42,000 | $42,000 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Pioneer Bank & Trust's 2005 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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