Peoples Bank Mortgage Rates, Fees & Info

Clive, IA

LEI: 254900QIPUZ7PAK59X63

Tax ID: 42-0463300

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
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    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • 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 Bank is a smaller bank specializing in Home Purchase, Refi, and Cash Out Refi loans. Peoples Bank has a high proportion of conventional loans. Their top markets by origination volume include: Des Moines, Ames, Spencer, Pella, and Omaha among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Peoples Bank 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. Peoples Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.52% 5/4/24
    30 Year Conventional Refi 6.06% 5/4/24
    30 Year Cash-out Refi 6.70% 5/4/24
    30 Year FHA Purchase 6.27% 5/4/24
    30 Year FHA Refi 6.27% 5/4/24
    30 Year USDA Purchase 6.27% 5/4/24
    15 Year Conventional Refi 6.25% 5/4/24
    15 Year Cash-out Refi 6.25% 5/4/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Peoples Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Peoples Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    277

    Origination Dollar Volume (All Markets)

    $51,035,000

    Employee count

    83

    Awards

    Peoples Bank 30 Year Conventional Loans bronze Peoples Bank 30 Year Conventional Loans gold Peoples Bank 30 Year Conventional Loans gold
    Show all (3) awards

    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
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 193 $42,655,000 $221,010 $2,705 4.70%
    Outside of Metro Areas 53 $3,405,000 $64,245 $8,368 6.34%
    AMES, IA (FHA|USDA|VA) 23 $2,105,000 $91,522 $1,924 5.70%
    Spencer, IA (FHA|USDA|VA) 1 $1,085,000 $1,085,000 $0 4.96%
    Pella, IA (FHA|USDA|VA) 1 $485,000 $485,000 $2,224 3.63%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 2 $410,000 $205,000 $2,141 3.06%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $365,000 $365,000 $2,579 3.38%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $355,000 $355,000 $2,413 3.75%
    Fort Dodge, IA (FHA|USDA|VA) 1 $155,000 $155,000 $2,180 3.75%
    Burlington, IA-IL (FHA|USDA|VA) 1 $15,000 $15,000 $0 5.78%
    Peoples Bank's top markets include Des Moines, Ames, Spencer, Pella, and Omaha among others.

    Their top states include:
  • Iowa (FHA|USDA|VA)
  • Nebraska (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Kansas (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Peoples Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    FINANCIAL PLUS Credit Union
    Similarity Rank: 63
    Raccoon Valley Bank
    Similarity Rank: 145
    Community Choice Credit Union
    Similarity Rank: 255
    Luana Savings Bank
    Similarity Rank: 322
    Peoples Bank
    Similarity Rank: 380
    Fidelity Bank
    Similarity Rank: 388
    Premier Credit Union
    Similarity Rank: 574
    I. H. MISSISSIPPI VALLEY CREDIT UNION
    Similarity Rank: 640
    GREATER IOWA CREDIT UNION
    Similarity Rank: 640
    Farmers State Bank
    Similarity Rank: 1008

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 213 $47,365,000 $222,371 $3,311 4.70%
    HELOC 64 $3,670,000 $57,344 n/a 6.34%

    For 2019, Peoples Bank's most frequently originated type of loan was Conventional, with 213 originations. Their 2nd most popular type was HELOC, with 64 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 74 $17,920,000 $242,162 $5,005 4.58%
    Refi 69 $11,555,000 $167,464 $1,815 5.37%
    Cash Out Refi 69 $18,155,000 $263,116 $2,314 4.06%
    Other 42 $2,140,000 $50,952 $938 6.46%
    Home Improvement 23 $1,265,000 $55,000 $7,325 6.28%

    For 2019, Peoples Bank's most frequently cited loan purpose was Home Purchase, with 74 originations. The 2nd most popular reason was Refi, with 69 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 112 $30,200,000 $269,643 $2,578 3.84%
    5 Year 95 $8,355,000 $87,947 $4,212 6.18%
    Other 19 $1,945,000 $102,368 $1,991 6.10%
    15 Year 17 $5,925,000 $348,529 $7,418 3.57%
    1 Year 11 $965,000 $87,727 $0 6.55%
    10 Year 11 $1,635,000 $148,636 $740 6.93%
    20 Year 9 $1,895,000 $210,556 $8,423 5.02%
    3 Year 3 $115,000 $38,333 $0 6.30%

    For 2019, Peoples Bank's most frequently cited loan duration was 30 Year, with 112 originations. The 2nd most popular length was 5 Year, with 95 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 24 $2,310,000 $96,250
    $1k-2k 18 $3,690,000 $205,000
    $2k-3k 6 $1,910,000 $318,333
    $3k-4k 2 $530,000 $265,000
    $4k-5k 1 $385,000 $385,000

    Peoples Bank's average total fees were $2,578, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 24 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 108 $29,650,000 $274,537
    5-6% 67 $5,415,000 $80,821
    6-7% 35 $2,795,000 $79,857
    4-5% 28 $9,530,000 $340,357
    7-8% 28 $1,530,000 $54,643
    2.5-3% 6 $1,700,000 $283,333
    Over 8% 5 $415,000 $83,000

    During 2019, Peoples Bank's average interest rate for loans was 3.84%, while their most frequently originated rate bucket for loans was 3-4%, with 108 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 117 $4,715,000 $40,299 $6,541 6.24%
    $200k-400k 81 $22,955,000 $283,395 $2,752 3.98%
    $100k-200k 51 $7,635,000 $149,706 $2,261 4.71%
    $400k-600k 23 $10,575,000 $459,783 $2,130 3.92%
    $1MM+ 3 $3,515,000 $1,171,667 $0 4.70%
    $600k-1MM 2 $1,640,000 $820,000 $0 4.75%

    2019 saw Peoples Bank place emphasis on $100,000 or less loans with 117 originations, totaling $4,715,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 71 $14,445,000 $203,451 $2,453 4.76%
    $150k-250k 40 $9,250,000 $231,250 $3,795 4.88%
    $50k-75k 39 $4,865,000 $124,744 $4,762 5.13%
    $50k or less 35 $2,115,000 $60,429 $5,935 5.64%
    $75k-100k 32 $4,350,000 $135,938 $2,165 5.07%
    $250k+ 18 $5,870,000 $326,111 $2,242 4.10%

    Peoples Bank lent most frequently to those with incomes in the $100k-150k range, with 71 originations. The second most popular income band? $150k-250k, with 40 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 71 $12,145,000 $171,056 $3,017 4.87%
    30-36% 45 $7,185,000 $159,667 $2,080 5.08%
    <20% 41 $6,985,000 $170,366 $6,984 5.13%
    39% 14 $2,750,000 $196,429 $1,926 5.13%
    36% 9 $695,000 $77,222 $1,652 5.78%
    43% 8 $2,020,000 $252,500 $2,151 3.75%
    41% 7 $1,945,000 $277,857 $3,113 3.99%
    37% 7 $1,145,000 $163,571 $2,488 5.22%
    44% 5 $1,535,000 $307,000 $2,020 4.03%
    40% 4 $750,000 $187,500 $2,132 4.38%
    45% 4 $980,000 $245,000 $2,316 5.10%
    48% 3 $805,000 $268,333 $3,330 3.75%
    38% 3 $785,000 $261,667 $3,252 5.56%
    42% 2 $490,000 $245,000 $2,920 3.88%
    49% 1 $215,000 $215,000 $2,312 3.63%
    47% 1 $65,000 $65,000 $0 6.00%

    Peoples Bank lent most frequently to those with DTI ratios of 20-30%, with 71 originations. The next most common DTI ratio? 30-36%, with 45 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 233 $38,475,000 $165,129 $3,317 5.10%
    Not applicable 27 $8,145,000 $301,667 $0 5.50%
    Not provided 15 $4,175,000 $278,333 $3,461 4.13%
    Black 1 $175,000 $175,000 $1,960 4.25%
    Asian 1 $65,000 $65,000 $2,104 3.63%

    Approval Rates

    Total approvals of all applications
    95.67%

    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
    97.47%

    Peoples Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 277 $51,035,000 $184,242

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 7 $5,365,000 $766,429
    Single Family (1-4 Units):Manufactured 2 $180,000 $90,000
    Single Family (1-4 Units):Site-Built 268 $45,490,000 $169,739

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 45 $3,145,000 $69,889 $1,081 6.13%
    40-60% 30 $6,290,000 $209,667 $6,794 5.21%
    60-80% 93 $23,635,000 $254,140 $3,215 4.43%
    80-100% 58 $14,150,000 $243,966 $2,923 4.25%
    Over 100% 3 $495,000 $165,000 $1,715 6.89%
    Under 20% 38 $1,660,000 $43,684 $5,601 6.17%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION Conventional home mortgage Struggling to pay mortgage 3 21.4%
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION Conventional home mortgage Trouble during payment process 4 28.6%
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 7.1%
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION Home equity loan or line of credit (HELOC) Closing on a mortgage 1 7.1%
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION Home equity loan or line of credit (HELOC) Struggling to pay mortgage 2 14.3%
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION Home equity loan or line of credit (HELOC) Trouble during payment process 1 7.1%
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION Other type of mortgage Trouble during payment process 2 14.3%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Peoples Bank 1021 Main Street Scranton, IA 51462 Full Service B&M $26,953
    Peoples Bank 116 West State Street Jefferson, IA 50129 Full Service B&M $51,086
    Peoples Bank 1185 Southeast University Avenue Waukee, IA 50263 Full Service B&M $13,830
    Peoples Bank 12701 University Avenue Clive, IA 50325 Full Service B&M $41,337
    Peoples Bank 205 East Main Street Grand Junction, IA 50107 Full Service B&M $28,989
    Peoples Bank 303 Main Street Rippey, IA 50235 Full Service B&M $15,115
    Peoples Bank 338 West Walnut Street, P. O. Box 697 Ogden, IA 50212 Full Service B&M $7,815
    Peoples Bank 401 Main Street Guthrie Center, IA 50115 Full Service B&M $49,988
    Peoples Bank 804 Greenwood Hills Drive Adel, IA 50003 Full Service B&M $29,589

    For 2019, Peoples Bank had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $14,903
    Net interest income $11,394
    Total noninterest income $2,818
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $486
    Trading account gains and fees $0
    Additional Noninterest Income $2,332
    Pre-tax net operating income $2,475
    Securities gains (or losses, -) $286
    Income before extraordinary items $2,676
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,676
    Minority interest net income $0
    Net income $2,676
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,398

    Peoples Bank's gross interest income from loans was $14,903,000.
    Peoples Bank's net interest income from loans was $11,394,000.
    Peoples Bank's fee based income from loans was $486,000.
    Peoples Bank's net income from loans was $2,676,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,509
    Provision for credit losses $945
    Total noninterest expense $10,792
    Salaries and employee benefits $6,555
    Premises and equipment expense $844
    Additional noninterest expense $3,393
    Applicable income taxes $85
    Net charge-offs $-4
    Cash dividends $3,500

    Peoples Bank's interest expense for loans was $3,509,000.
    Peoples Bank's payroll and benefits expense were $6,555,000.
    Peoples Bank's property, plant and equipment expenses $844,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 4.0%
    Nonfarm, nonresidential loans 1.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 2.0%
    All other family 1.0%
    Commercial & industrial loans 1.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 1.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $269,386
    Deposits held in domestic offices $269,386
    Deposits by Individuals, partnerships, and corporations $216,622
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $51,538
    Deposits by Commercial banks and other depository institutions in U.S. $1,226
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $93,438
    Demand deposits $55,046
    Nontransaction accounts $175,948
    Money market deposit accounts (MMDAs) $59,574
    Other savings deposits (excluding MMDAs) $24,830
    Total time deposits $91,544
    Total time and savings deposits $214,340
    Noninterest-bearing deposits $55,046
    Interest-bearing deposits $214,340
    Retail deposits $239,299
    IRAs and Keogh plan accounts $6,135
    Brokered deposits $4,400
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $341,175
    Cash & Balances due from depository institutions $8,031
    Interest-bearing balances $2,265
    Total securities $74,104
    Federal funds sold & reverse repurchase $0
    Net loans and leases $228,254
    Loan and leases loss allowance $2,298
    Trading account assets $0
    Bank premises and fixed assets $7,898
    Other real estate owned $250
    Goodwill and other intangibles $15,366
    All other assets $7,272

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $341,175
    Total Liabilities $297,148
    Total deposits $269,386
    Interest-bearing deposits $214,340
    Deposits held in domestic offices $269,386
    % insured (estimated) $77
    Federal funds purchased and repurchase agreements $2,831
    Trading liabilities $0
    Other borrowed funds $23,864
    Subordinated debt $0
    All other liabilities $1,067

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $228,254
    Loan and leases loss allowance $2,298
    Total loans and leases (domestic) $230,552
    All real estate loans $175,932
    Real estate loans in domestic offices $175,932
    Construction and development loans $22,078
    Residential 1-4 family construction $14,749
    Other construction, all land development and other land $7,329
    Loans secured by nonfarm nonresidential properties $53,366
    Nonfarm nonresidential secured by owner-occupied properties $19,163
    Commercial real estate & other non-farm, non-residential $34,203
    Multifamily residential real estate $14,795
    1-4 family residential loans $47,424
    Farmland loans $38,269
    Loans held in foreign offices $0
    Farm loans $30,584
    Commercial and industrial loans $16,361
    To non-U.S. addressees $0
    Loans to individuals $3,775
    Credit card loans $613
    Related Plans $64
    Consumer Auto Loans $1,564
    Other loans to individuals $1,534
    All other loans & leases $3,900
    Loans to foreign governments and official institutions $0
    Other loans $132
    Loans to depository institutions and acceptances of other banks $332
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $308
    Non 1-4 family restructured loans & leases $107
    Total loans and leases (foreign) $0

    Peoples Bank had $228,254,000 of loans outstanding in 2019. $175,932,000 of loans were in real estate loans. $22,078,000 of loans were in development loans. $14,795,000 of loans were in multifamily mortgage loans. $47,424,000 of loans were in 1-4 family mortgage loans. $30,584,000 of loans were in farm loans. $613,000 of loans were in credit card loans. $1,564,000 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 117 $17,620 $150,598
    Nonfarm, nonresidential loans - <$100k 65 $2,575 $39,615
    Nonfarm, nonresidential loans - $100-250k 30 $4,546 $151,533
    Nonfarm, nonresidential loans - $250k-1MM 22 $10,499 $477,227
    Commercial & Industrial, US addressed loans - <$1MM 252 $11,620 $46,111
    Commercial & Industrial, US addressed loans - <$100k 213 $4,228 $19,850
    Commercial & Industrial, US addressed loans - $100-250k 25 $3,152 $126,080
    Commercial & Industrial, US addressed loans - $250k-1MM 14 $4,240 $302,857
    Farmland loans - <$1MM 148 $19,682 $132,986
    Farmland loans - <$100k 64 $2,727 $42,609
    Farmland loans - $100-250k 51 $7,110 $139,412
    Farmland loans - $250k-1MM 33 $9,845 $298,333
    Agriculture operations loans - <$1MM 417 $19,507 $46,779
    Agriculture operations loans - <$100k 336 $7,203 $21,438
    Agriculture operations loans - $100-250k 57 $6,515 $114,298
    Agriculture operations loans - $250k-1MM 24 $5,789 $241,208