Planters Bank, Inc.

Headquarters

1312 South Main Street
Hopkinsville, KY 42240
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.01% 1.40% →
1-Year CD 0.50% 1.15% →
2-Year CD 0.50% 1.26% →
5-Year CD 0.50% 1.56% →
30-Year Mortgage N.A. 3.09% →
15-Year Mortgage N.A. 2.59% →
HELOC N.A. 2.77% →

2020 Overview

General Bank Information

Planters Bank, Inc. is an FDIC insured institution located in Hopkinsville, KY. It was founded in 1996 and has approximately $1.16 billion in assets. Customers can open an account at one of its 13 branches.

FDIC Insured Yes
FDIC Certificate # 34254
Date Established 1996
Assets $ 1,163.03 million
Loans $ 878.70 million
Deposits $ 924.63 million
Capital $ 127.43 million
 

For a more detailed analysis of Planters Bank, Inc.'s financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - July 7, 2020

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Savings
0.01% $25 - Learn More
CD Rates APY MIN MAX
6 Mo CD
0.50% $2,500 - Learn More
12 Mo CD
0.50% $2,500 - Learn More
24 Mo CD
0.50% $2,500 - Learn More
36 Mo CD
0.50% $2,500 - Learn More
48 Mo CD
0.50% $2,500 - Learn More
60 Mo CD
0.50% $2,500 - Learn More

Fixed IRA Rates APY MIN MAX
Fixed IRA
0.50% $2,500 - Learn MoreShow Less
Variable IRA Rates APY MIN MAX
Var IRA
0.05% $25,000 $49,999 Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.01% $100,000 - Learn MoreShow Less

Loan Rates - July 7, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Planters Bank, Inc.

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:




Featured - Connecticut 30 Year Fixed Mortgage Rates 2020

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Payment
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NMLS ID: 2890
License#: 13256
3.039% 3.000% 0.50 $1,250 $1,055 Learn More
Rocket Mortgage
NMLS ID: 3030
3.620% 3.500% 1.00 $3,750 $1,123 Learn More
Quicken Loans NMLS #3030
NMLS ID: 3030
3.872% 3.750% 1.00 $3,750 $1,158 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
PenFed Credit Union
PenFed Credit Union
3.750 %
$0 Learn More
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People's United Bank, N.A.
People's United Bank, N.A.
4.000 %
$0 Learn More
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Note to Planters Bank, Inc.
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Branches

Planters Bank, Inc. branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Fairfield,Connecticut


Planters Bank, Inc. Locations


Financial Details

Planters Bank, Inc. Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Planters Bank, Inc.. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Planters Bank, Inc. U.S. Bank Average
2% 6.51%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of December 31, 2019, Planters Bank, Inc. had $2,804,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $127,431,000 in equity and $13,086,000 in loans loss reserves. That gives it a Texas Ratio of 2%.

Return on Equity
Planters Bank, Inc. U.S. Bank Average
12.74% 9.41%

Planters Bank, Inc. has a Return on Equity of 12.74% versus the BestCashCow average of 9.41%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
Planters Bank, Inc. U.S. Bank Average
10.96% 12.82%

Planters Bank, Inc. has a Capitalization of 10.96% versus the BestCashCow average of 12.82. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Planters Bank, Inc. Balance Sheet Analysis

As of December 31, 2019, Planters Bank, Inc. had assets of $1,163,031,000, loans of $878,697,000, and deposits of $924,632,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

December 31, 2019
ASSETS
Cash & Balances due from depository institutions $ 18.54 million
Interest-bearing balances $ 3.18 million
Total securities $ 223.62 million
Federal funds sold and reverse repurchase $ 0.02 million
Net loans and leases $ 878.70 million
Loan loss allowance $ 13.09 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 0.21 million
All other assets $ 30.31 million
     Total Assets $ 1,035.60 million
LIABILITIES
Total deposits $ 924.63 million
      Interest-bearing deposits $ 742.33 million
      Deposits held in domestic offices $ 924.63 million
      % insured (estimated) 50.21%
Federal funds purchased and repurchase agreements $ 19.16 million
Trading liabilities N.A.
Other borrowed funds $ 84.00 million
Subordinated debt N.A.
All other liabilities $ 7.81 million
      Total Liabilities $ 1,035.60 million
      Shareholders’ Equity $ 127.43 million

Summary Income Statement

December 31, 2019
INCOME AND EXPENSES
Total Interest Income $ 51.27 million
Total Interest Expense $ 14.22 million
Net interest income $ 37.04 million
Provision for loan and lease losses $ 1.05 million
Total non interest income $ 5.70 million
Total non interest expense $ 23.15 million
Pre-tax Net Operating Income $ 18.54 million

Bank Loan Profile?

The top three loan types in Planters Bank, Inc.’s loan portfolio are Commercial Real Estate, Construction and Development Loans, and 1-4 Family Residential Loans.

Compared to other banks in Kentucky, Planters Bank, Inc. has a significantly higher percent of Construction and Development Loans on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 21.38
Multifamily
Mortgages
3.82
Credit Card Loans 0.00
Consumer Auto Loans 0.39
Small Business Loans 7.61
Construction and Development Loans 25.41
Commercial Real Estate 28.52
Commercial and Industrial Loans 9.67
Farm Loans 3.46

Frequently Asked Questions About Planters Bank, Inc.

Branches and Savings

Is Planters Bank, Inc. FDIC insured?

Yes. It is covered under FDIC Certificate #34254.

Why does Planters Bank, Inc. pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Planters Bank, Inc. CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Planters Bank, Inc. a commercial bank?

Yes

Where are Planters Bank, Inc. locations?

See branch locations nearby.

Is Planters Bank, Inc. open on Saturdays?

Is Planters Bank, Inc. open on Sundays?

What time does Planters Bank, Inc. open?

What time does Planters Bank, Inc. close?

Are Planters Bank, Inc. ATMs Open 24/7?

Do Planters Bank, Inc. ATMs accept cash deposits?

Can Planters Bank, Inc. customers use other ATMs?

Do Planters Bank, Inc. branches have notaries?

Will Planters Bank, Inc. notarize my document?

What address for Planters Bank, Inc. should I put for incoming ACH transfers?

Will the Planters Bank, Inc. branch print checks?

Do Planters Bank, Inc. checks expire?

Does Planters Bank, Inc. require US citizenship to open account?

Can Planters Bank, Inc. close my account?

Does Planters Bank, Inc. Report to credit bureaus?

Does Planters Bank, Inc. Use Equifax?

What is Planters Bank, Inc.'s ACH Routing Number?

What is Planters Bank, Inc.'s SWIFT code?

Products

Does Planters Bank, Inc. offer mortgages?

Compare mortgage rates here.

Does Planters Bank, Inc. offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Planters Bank, Inc. offer personal loans?

Compare personal loan rates here.

Does Planters Bank, Inc. offer student loans?

Will Planters Bank, Inc. cash a check?

Will Planters Bank, Inc. redeem a savings bond?

Does Planters Bank, Inc. cash savings bonds?

Will Planters Bank, Inc. cash money orders?

Can Planters Bank, Inc. issue a money order?

Does Planters Bank, Inc. do currency exchange?

Background on The Bank

Who owns Planters Bank, Inc.?

How long has Planters Bank, Inc. been around?

Can Planters Bank, Inc. transfer to other banks?

Does Planters Bank, Inc. have quick pay?

Does Planters Bank, Inc. accept rolled coins?

Will Planters Bank, Inc. accept loose change?

Where is Planters Bank, Inc. headquarters?

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