Peoples State Bank Of Plainview Mortgage Rates, Fees & Info

Plainview, MN

LEI: 2549009PBYH62M6NZK12

Tax ID: 41-0473820

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Peoples State Bank Of Plainview is a smaller bank specializing in Home Purchase and Refi loans. Peoples State Bank Of Plainview has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Rochester, Menomonie, Minneapolis, Winona, and Red Wing among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Peoples State Bank Of Plainview 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

    318

    Origination Dollar Volume (All Markets)

    $56,910,000

    Employee count

    45

    Top 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
    ROCHESTER, MN (FHA|USDA|VA) 143 $24,645,000 $172,343 $0 0.00%
    Menomonie, WI (FHA|USDA|VA) 85 $14,085,000 $165,706 $0 0.00%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 26 $5,520,000 $212,308 $0 0.00%
    Winona, MN (FHA|USDA|VA) 31 $4,915,000 $158,548 $0 0.00%
    Outside of Metro Areas 14 $2,970,000 $212,143 $0 0.00%
    Red Wing, MN (FHA|USDA|VA) 7 $1,465,000 $209,286 $0 0.00%
    EAU CLAIRE, WI (FHA|USDA|VA) 3 $1,275,000 $425,000 $0 0.00%
    Owatonna, MN (FHA|USDA|VA) 2 $630,000 $315,000 $0 0.00%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $315,000 $315,000 $0 0.00%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $295,000 $295,000 $0 0.00%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $270,000 $135,000 $0 0.00%
    DULUTH, MN-WI (FHA|USDA|VA) 1 $215,000 $215,000 $0 0.00%
    RACINE, WI (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
    Austin, MN (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
    Peoples State Bank Of Plainview's top markets include Rochester, Menomonie, Minneapolis, Winona, and Red Wing among others.

    Their top states include:
  • Minnesota (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 307 $55,025,000 $179,235 $0 0.00%
    USDA 11 $1,885,000 $171,364 $0 0.00%

    For 2021, Peoples State Bank Of Plainview's most frequently originated type of loan was Conventional, with 307 originations. Their 2nd most popular type was USDA, with 11 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 133 $29,645,000 $222,895 $0 0.00%
    Refi 109 $16,675,000 $152,982 $0 0.00%
    Cash Out Refi 49 $8,725,000 $178,061 $0 0.00%
    Home Improvement 17 $1,135,000 $66,765 $0 0.00%
    Other 10 $730,000 $73,000 $0 0.00%

    For 2021, Peoples State Bank Of Plainview's most frequently cited loan purpose was Home Purchase, with 133 originations. The 2nd most popular reason was Refi, with 109 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 318 $56,910,000 $178,962 $0 0.00%

    For 2021, Peoples State Bank Of Plainview's most frequently cited loan duration was Other, with 318 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 120 $17,960,000 $149,667 $0 0.00%
    $200k-400k 100 $26,260,000 $262,600 $0 0.00%
    $100,000 or less 82 $4,590,000 $55,976 $0 0.00%
    $400k-600k 14 $6,430,000 $459,286 $0 0.00%
    $1MM+ 1 $1,005,000 $1,005,000 $0 0.00%
    $600k-1MM 1 $665,000 $665,000 $0 0.00%

    2021 saw Peoples State Bank Of Plainview place emphasis on $100k-200k loans with 120 originations, totaling $17,960,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 73 $10,625,000 $145,548 $0 0.00%
    $100k-150k 67 $13,775,000 $205,597 $0 0.00%
    $50k or less 61 $6,755,000 $110,738 $0 0.00%
    $75k-100k 60 $12,580,000 $209,667 $0 0.00%
    $150k-250k 35 $7,915,000 $226,143 $0 0.00%
    $250k+ 14 $4,080,000 $291,429 $0 0.00%

    Peoples State Bank Of Plainview lent most frequently to those with incomes in the $50k-75k range, with 73 originations. The second most popular income band? $100k-150k, with 67 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 318 $56,910,000 $178,962 $0 0.00%

    Peoples State Bank Of Plainview lent most frequently to those with DTI ratios of Exempt%, with 318 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 304 $54,820,000 $180,329 $0 0.00%
    Not applicable 8 $1,180,000 $147,500 $0 0.00%
    Black 3 $545,000 $181,667 $0 0.00%
    Asian 2 $320,000 $160,000 $0 0.00%
    Other Asian 1 $45,000 $45,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    94.46%

    Peoples State Bank Of Plainview has an average approval rate.

    Pick Rate

    Approvals leading to origination
    92.77%

    Peoples State Bank Of Plainview has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 318 $56,910,000 $178,962

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    318 $56,910,000 $178,962

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION Conventional home mortgage Closing on a mortgage 2 15.4%
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION Conventional home mortgage Struggling to pay mortgage 2 15.4%
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION Conventional home mortgage Trouble during payment process 4 30.8%
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION Home equity loan or line of credit (HELOC) Trouble during payment process 2 15.4%
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION Other type of mortgage Trouble during payment process 3 23.1%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Peoples State Bank of Plainview 100 4th Avenue S.E. Plainview, MN 55964 Full Service B&M $151,509
    Peoples State Bank of Plainview 1428 Broadway St N Menomonie, WI 54751 Full Service B&M $34,640
    Peoples State Bank of Plainview 155 East Main Elgin, MN 55932 Full Service B&M $30,957
    Peoples State Bank of Plainview 411 Main Street, N.W. Altura, MN 55910 Full Service B&M $48,078
    Peoples State Bank of Plainview 715 Highway 79 Boyceville, WI 54725 Full Service B&M $36,714

    For 2021, Peoples State Bank Of Plainview had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $11,581
    Net interest income $9,979
    Total noninterest income $2,882
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $249
    Trading account gains and fees $0
    Additional Noninterest Income $2,633
    Pre-tax net operating income $5,106
    Securities gains (or losses, -) $21
    Income before extraordinary items $5,121
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,121
    Minority interest net income $0
    Net income $5,121
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $5,100

    Peoples State Bank Of Plainview's gross interest income from loans was $11,581,000.
    Peoples State Bank Of Plainview's net interest income from loans was $9,979,000.
    Peoples State Bank Of Plainview's fee based income from loans was $249,000.
    Peoples State Bank Of Plainview's net income from loans was $5,121,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,602
    Provision for credit losses $25
    Total noninterest expense $7,730
    Salaries and employee benefits $4,484
    Premises and equipment expense $653
    Additional noninterest expense $2,593
    Applicable income taxes $6
    Net charge-offs $-17
    Cash dividends $3,664

    Peoples State Bank Of Plainview's interest expense for loans was $1,602,000.
    Peoples State Bank Of Plainview's payroll and benefits expense were $4,484,000.
    Peoples State Bank Of Plainview's property, plant and equipment expenses $653,000.

    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 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $298,363
    Deposits held in domestic offices $298,363
    Deposits by Individuals, partnerships, and corporations $270,750
    Deposits by U.S. Government $1,630
    Deposits by States and political subdivisions in the U.S. $25,983
    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 $107,657
    Demand deposits $63,787
    Nontransaction accounts $190,706
    Money market deposit accounts (MMDAs) $97,046
    Other savings deposits (excluding MMDAs) $43,816
    Total time deposits $49,845
    Total time and savings deposits $234,576
    Noninterest-bearing deposits $63,787
    Interest-bearing deposits $234,576
    Retail deposits $290,129
    IRAs and Keogh plan accounts $14,847
    Brokered deposits $1,236
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $341,590
    Cash & Balances due from depository institutions $9,202
    Interest-bearing balances $4,833
    Total securities $127,040
    Federal funds sold & reverse repurchase $136
    Net loans and leases $189,932
    Loan and leases loss allowance $2,430
    Trading account assets $0
    Bank premises and fixed assets $4,166
    Other real estate owned $0
    Goodwill and other intangibles $1,189
    All other assets $9,925

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $341,590
    Total Liabilities $311,663
    Total deposits $298,363
    Interest-bearing deposits $234,576
    Deposits held in domestic offices $298,363
    % insured (estimated) $84
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $9,744
    Subordinated debt $0
    All other liabilities $3,556

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $189,932
    Loan and leases loss allowance $2,430
    Total loans and leases (domestic) $192,362
    All real estate loans $144,678
    Real estate loans in domestic offices $144,678
    Construction and development loans $10,938
    Residential 1-4 family construction $7,032
    Other construction, all land development and other land $3,906
    Loans secured by nonfarm nonresidential properties $29,805
    Nonfarm nonresidential secured by owner-occupied properties $25,062
    Commercial real estate & other non-farm, non-residential $4,743
    Multifamily residential real estate $2,013
    1-4 family residential loans $56,708
    Farmland loans $45,214
    Loans held in foreign offices $0
    Farm loans $18,278
    Commercial and industrial loans $18,789
    To non-U.S. addressees $0
    Loans to individuals $9,593
    Credit card loans $0
    Related Plans $184
    Consumer Auto Loans $7,007
    Other loans to individuals $2,402
    All other loans & leases $1,025
    Loans to foreign governments and official institutions $0
    Other loans $31
    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 $397
    Non 1-4 family restructured loans & leases $397
    Total loans and leases (foreign) $0

    Peoples State Bank of Plainview had $189,932,000 of loans outstanding in 2021. $144,678,000 of loans were in real estate loans. $10,938,000 of loans were in development loans. $2,013,000 of loans were in multifamily mortgage loans. $56,708,000 of loans were in 1-4 family mortgage loans. $18,278,000 of loans were in farm loans. $0 of loans were in credit card loans. $7,007,000 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 151 $24,009 $159,000
    Nonfarm, nonresidential loans - <$100k 58 $2,298 $39,621
    Nonfarm, nonresidential loans - $100-250k 47 $5,262 $111,957
    Nonfarm, nonresidential loans - $250k-1MM 46 $16,449 $357,587
    Commercial & Industrial, US addressed loans - <$1MM 364 $16,298 $44,775
    Commercial & Industrial, US addressed loans - <$100k 294 $6,795 $23,112
    Commercial & Industrial, US addressed loans - $100-250k 39 $3,964 $101,641
    Commercial & Industrial, US addressed loans - $250k-1MM 31 $5,539 $178,677
    Farmland loans - <$1MM 224 $29,927 $133,603
    Farmland loans - <$100k 65 $2,856 $43,938
    Farmland loans - $100-250k 110 $13,805 $125,500
    Farmland loans - $250k-1MM 49 $13,266 $270,735
    Agriculture operations loans - <$1MM 354 $15,171 $42,856
    Agriculture operations loans - <$100k 290 $5,933 $20,459
    Agriculture operations loans - $100-250k 40 $4,498 $112,450
    Agriculture operations loans - $250k-1MM 24 $4,740 $197,500