The Peoples Bank Mortgage Rates, Fees & Info

Iva, SC

LEI: 254900DEMD2F6Z046A71

Tax ID: 57-0305018

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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

    The Peoples Bank is a smaller bank specializing in Refi and Home Purchase loans. The Peoples Bank has a high proportion of conventional loans. Their top markets by origination volume include: Greenville, Augusta, Spartanburg, Hilton Head Island, and Charleston among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    The Peoples Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    Originations

    75

    Origination Dollar Volume (All Markets)

    $16,365,000

    Employee count

    66

    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
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 69 $15,175,000 $219,928 $0 0.00%
    AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $335,000 $335,000 $0 0.00%
    SPARTANBURG, SC (FHA|USDA|VA) 2 $300,000 $150,000 $0 0.00%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $245,000 $245,000 $0 0.00%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
    Outside of Metro Areas 1 $125,000 $125,000 $0 0.00%
    The Peoples Bank's top markets include Greenville, Augusta, Spartanburg, Hilton Head Island, and Charleston among others.

    Their top states include:
  • South Carolina (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 75 $16,365,000 $218,200 $0 0.00%

    For 2019, The Peoples Bank's most frequently originated type of loan was Conventional, with 75 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 39 $8,975,000 $230,128 $0 0.00%
    Home Purchase 36 $7,390,000 $205,278 $0 0.00%

    For 2019, The Peoples Bank's most frequently cited loan purpose was Refi, with 39 originations. The 2nd most popular reason was Home Purchase, with 36 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 75 $16,365,000 $218,200 $0 0.00%

    For 2019, The Peoples Bank's most frequently cited loan duration was Other, with 75 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 34 $4,620,000 $135,882 $0 0.00%
    $100,000 or less 18 $1,190,000 $66,111 $0 0.00%
    $200k-400k 13 $3,505,000 $269,615 $0 0.00%
    $400k-600k 5 $2,355,000 $471,000 $0 0.00%
    $600k-1MM 3 $2,525,000 $841,667 $0 0.00%
    $1MM+ 2 $2,170,000 $1,085,000 $0 0.00%

    2019 saw The Peoples Bank place emphasis on $100k-200k loans with 34 originations, totaling $4,620,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 10 $2,460,000 $246,000 $0 0.00%
    $50k-75k 7 $915,000 $130,714 $0 0.00%
    $50k or less 6 $1,740,000 $290,000 $0 0.00%
    $75k-100k 6 $1,080,000 $180,000 $0 0.00%
    $250k+ 3 $765,000 $255,000 $0 0.00%
    $150k-250k 1 $275,000 $275,000 $0 0.00%

    The Peoples Bank lent most frequently to those with incomes in the $100k-150k range, with 10 originations. The second most popular income band? $50k-75k, with 7 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 75 $16,365,000 $218,200 $0 0.00%

    The Peoples Bank lent most frequently to those with DTI ratios of Exempt%, with 75 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 39 $8,905,000 $228,333 $0 0.00%
    Not applicable 36 $7,460,000 $207,222 $0 0.00%

    Approval Rates

    Total approvals of all applications
    98.84%

    The Peoples Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    88.00%

    The Peoples Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 75 $16,365,000 $218,200

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $495,000 $495,000
    Single Family (1-4 Units):Manufactured 2 $160,000 $80,000
    Single Family (1-4 Units):Site-Built 72 $15,710,000 $218,194

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    TOP FLITE FINANCIAL INC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 33.3%
    TOP FLITE FINANCIAL INC FHA mortgage Closing on a mortgage 1 33.3%
    TOP FLITE FINANCIAL INC VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 33.3%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    The Peoples Bank 1921 East Greenville Street Anderson, SC 29621 Full Service B&M $37,670
    The Peoples Bank 3009 Whitehall Road Anderson, SC 29626 Full Service B&M $37,229
    The Peoples Bank 3010 South Main Street Anderson, SC 29624 Full Service B&M $44,324
    The Peoples Bank 3901 Clemson Boulevard Anderson, SC 29621 Full Service B&M $34,374
    The Peoples Bank 605 North Main Street Anderson, SC 29621 Full Service B&M $24,515
    The Peoples Bank 801 East Front Street Iva, SC 29655 Full Service B&M $61,972

    For 2019, The Peoples Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $10,859
    Net interest income $9,089
    Total noninterest income $2,506
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $780
    Trading account gains and fees $0
    Additional Noninterest Income $1,726
    Pre-tax net operating income $3,162
    Securities gains (or losses, -) $33
    Income before extraordinary items $3,068
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,068
    Minority interest net income $0
    Net income $3,068
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,036

    The Peoples Bank's gross interest income from loans was $10,859,000.
    The Peoples Bank's net interest income from loans was $9,089,000.
    The Peoples Bank's fee based income from loans was $780,000.
    The Peoples Bank's net income from loans was $3,068,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,770
    Provision for credit losses $0
    Total noninterest expense $8,433
    Salaries and employee benefits $4,340
    Premises and equipment expense $1,021
    Additional noninterest expense $3,072
    Applicable income taxes $127
    Net charge-offs $24
    Cash dividends $1,394

    The Peoples Bank's interest expense for loans was $1,770,000.
    The Peoples Bank's payroll and benefits expense were $4,340,000.
    The Peoples Bank's property, plant and equipment expenses $1,021,000.

    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 4.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 12.0%
    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 $248,749
    Deposits held in domestic offices $248,749
    Deposits by Individuals, partnerships, and corporations $237,786
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $10,724
    Deposits by Commercial banks and other depository institutions in U.S. $239
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $102,954
    Demand deposits $46,490
    Nontransaction accounts $145,795
    Money market deposit accounts (MMDAs) $25,381
    Other savings deposits (excluding MMDAs) $28,465
    Total time deposits $91,949
    Total time and savings deposits $202,259
    Noninterest-bearing deposits $46,490
    Interest-bearing deposits $202,259
    Retail deposits $237,693
    IRAs and Keogh plan accounts $22,049
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $296,512
    Cash & Balances due from depository institutions $21,997
    Interest-bearing balances $15,271
    Total securities $89,128
    Federal funds sold & reverse repurchase $8,363
    Net loans and leases $157,681
    Loan and leases loss allowance $1,977
    Trading account assets $0
    Bank premises and fixed assets $6,270
    Other real estate owned $3,400
    Goodwill and other intangibles $0
    All other assets $9,673

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $296,512
    Total Liabilities $258,533
    Total deposits $248,749
    Interest-bearing deposits $202,259
    Deposits held in domestic offices $248,749
    % insured (estimated) $91
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $8,500
    Subordinated debt $0
    All other liabilities $1,284

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $157,681
    Loan and leases loss allowance $1,977
    Total loans and leases (domestic) $159,658
    All real estate loans $144,840
    Real estate loans in domestic offices $144,840
    Construction and development loans $18,340
    Residential 1-4 family construction $2,560
    Other construction, all land development and other land $15,780
    Loans secured by nonfarm nonresidential properties $65,380
    Nonfarm nonresidential secured by owner-occupied properties $40,479
    Commercial real estate & other non-farm, non-residential $24,901
    Multifamily residential real estate $1,002
    1-4 family residential loans $59,653
    Farmland loans $465
    Loans held in foreign offices $0
    Farm loans $259
    Commercial and industrial loans $7,129
    To non-U.S. addressees $0
    Loans to individuals $7,123
    Credit card loans $0
    Related Plans $489
    Consumer Auto Loans $3,443
    Other loans to individuals $3,191
    All other loans & leases $307
    Loans to foreign governments and official institutions $0
    Other loans $41
    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 $1,881
    Non 1-4 family restructured loans & leases $1,331
    Total loans and leases (foreign) $0

    The Peoples Bank had $157,681,000 of loans outstanding in 2019. $144,840,000 of loans were in real estate loans. $18,340,000 of loans were in development loans. $1,002,000 of loans were in multifamily mortgage loans. $59,653,000 of loans were in 1-4 family mortgage loans. $259,000 of loans were in farm loans. $0 of loans were in credit card loans. $3,443,000 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 159 $32,549 $204,711
    Nonfarm, nonresidential loans - <$100k 47 $1,555 $33,085
    Nonfarm, nonresidential loans - $100-250k 47 $5,326 $113,319
    Nonfarm, nonresidential loans - $250k-1MM 65 $25,668 $394,892
    Commercial & Industrial, US addressed loans - <$1MM 88 $7,129 $81,011
    Commercial & Industrial, US addressed loans - <$100k 68 $1,411 $20,750
    Commercial & Industrial, US addressed loans - $100-250k 13 $2,353 $181,000
    Commercial & Industrial, US addressed loans - $250k-1MM 7 $3,365 $480,714
    Farmland loans - <$1MM 7 $465 $66,429
    Farmland loans - <$100k 7 $465 $66,429
    Agriculture operations loans - <$1MM 18 $259 $14,389
    Agriculture operations loans - <$100k 18 $259 $14,389