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 Refi and Home Purchase loans. Peoples Bank has a high proportion of conventional loans. Their top markets by origination volume include: Des Moines, Ames, Fort Madison, Omaha, and Cedar Rapids among others. We have data for 16 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 a below 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% 11/21/24
    30 Year Conventional Refi 6.06% 11/21/24
    30 Year Cash-out Refi 6.70% 11/21/24
    30 Year FHA Purchase 6.27% 11/21/24
    30 Year FHA Refi 6.27% 11/21/24
    30 Year USDA Purchase 6.27% 11/21/24
    15 Year Conventional Refi 6.25% 11/21/24
    15 Year Cash-out Refi 6.25% 11/21/24
    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

    263

    Origination Dollar Volume (All Markets)

    $43,005,000

    Employee count

    75

    Awards

    Peoples Bank 30 Year Conventional Loans bronze Peoples Bank 30 Year Conventional Loans silver Peoples Bank 30 Year Conventional Loans silver
    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) 135 $24,715,000 $183,074 $2,096 3.39%
    Outside of Metro Areas 62 $7,450,000 $120,161 $1,872 3.82%
    AMES, IA (FHA|USDA|VA) 48 $5,880,000 $122,500 $1,905 3.57%
    Fort Madison-Keokuk, IA-IL-MO (FHA|USDA|VA) 1 $1,555,000 $1,555,000 $0 3.75%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 3 $685,000 $228,333 $1,752 2.29%
    CEDAR RAPIDS, IA (FHA|USDA|VA) 2 $670,000 $335,000 $0 3.53%
    IOWA CITY, IA (FHA|USDA|VA) 2 $370,000 $185,000 $1,421 3.25%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $365,000 $365,000 $4,163 3.13%
    Warrensburg, MO (FHA|USDA|VA) 1 $275,000 $275,000 $2,666 3.13%
    FLAGSTAFF, AZ (FHA|USDA|VA) 1 $255,000 $255,000 $2,676 2.88%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $255,000 $255,000 $3,523 2.75%
    Carroll, IA (FHA|USDA|VA) 2 $140,000 $70,000 $329 4.52%
    Spirit Lake, IA (FHA|USDA|VA) 1 $125,000 $125,000 $2,471 2.63%
    KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 1 $125,000 $125,000 $1,639 2.38%
    Fort Dodge, IA (FHA|USDA|VA) 1 $95,000 $95,000 $0 3.63%
    Marshalltown, IA (FHA|USDA|VA) 1 $45,000 $45,000 $0 4.70%
    Peoples Bank's top markets include Des Moines, Ames, Fort Madison, Omaha, and Cedar Rapids among others.

    Their top states include:
  • Iowa (FHA|USDA|VA)
  • Nebraska (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Arizona (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.

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    Similarity Rank: 960

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 215 $40,005,000 $186,070 $2,017 3.45%
    HELOC 48 $3,000,000 $62,500 n/a 3.81%

    For 2021, Peoples Bank's most frequently originated type of loan was Conventional, with 215 originations. Their 2nd most popular type was HELOC, with 48 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 99 $16,835,000 $170,051 $1,853 3.42%
    Home Purchase 71 $16,585,000 $233,592 $2,529 3.46%
    Cash Out Refi 40 $6,190,000 $154,750 $1,770 3.45%
    Home Improvement 33 $2,265,000 $68,636 $1,751 3.80%
    Other 19 $895,000 $47,105 $579 3.94%
    NA 1 $235,000 $235,000 $2,091 2.38%

    For 2021, Peoples Bank's most frequently cited loan purpose was Refi, with 99 originations. The 2nd most popular reason was Home Purchase, with 71 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 90 $20,090,000 $223,222 $2,342 3.10%
    5 Year 83 $9,525,000 $114,759 $465 4.11%
    15 Year 47 $7,305,000 $155,426 $2,041 2.60%
    Other 20 $2,110,000 $105,500 $1,040 4.95%
    10 Year 8 $1,070,000 $133,750 $1,156 3.94%
    20 Year 7 $1,625,000 $232,143 $1,929 2.82%
    1 Year 7 $1,105,000 $157,857 $4,195 4.02%
    3 Year 1 $175,000 $175,000 $0 3.75%

    For 2021, Peoples Bank's most frequently cited loan duration was 30 Year, with 90 originations. The 2nd most popular length was 5 Year, with 83 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 147 $26,195,000 $178,197
    $1k-2k 7 $1,735,000 $247,857
    $2k-3k 6 $1,900,000 $316,667

    Peoples Bank's average total fees were $2,342, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 147 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 121 $20,885,000 $172,603
    2.5-3% 62 $12,270,000 $197,903
    <2.5% 34 $6,690,000 $196,765
    4-5% 25 $1,495,000 $59,800
    5-6% 14 $1,130,000 $80,714
    6-7% 4 $190,000 $47,500
    Over 8% 2 $70,000 $35,000
    7-8% 1 $275,000 $275,000

    During 2021, Peoples Bank's average interest rate for loans was 3.10%, while their most frequently originated rate bucket for loans was 3-4%, with 121 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 125 $5,985,000 $47,880 $1,576 3.94%
    $100k-200k 69 $9,875,000 $143,116 $2,062 3.06%
    $200k-400k 47 $13,115,000 $279,043 $2,487 3.30%
    $400k-600k 20 $9,710,000 $485,500 $2,239 2.92%
    $1MM+ 2 $4,320,000 $2,160,000 $0 3.63%

    2021 saw Peoples Bank place emphasis on $100,000 or less loans with 125 originations, totaling $5,985,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 55 $10,655,000 $193,727 $2,063 3.45%
    $50k-75k 47 $4,575,000 $97,340 $1,965 3.52%
    $50k or less 45 $3,185,000 $70,778 $1,786 3.91%
    $75k-100k 42 $6,560,000 $156,190 $2,047 3.43%
    $150k-250k 22 $4,390,000 $199,545 $2,325 3.46%
    $250k+ 20 $5,020,000 $251,000 $2,223 2.95%

    Peoples Bank lent most frequently to those with incomes in the $100k-150k range, with 55 originations. The second most popular income band? $50k-75k, with 47 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 75 $10,155,000 $135,400 $1,878 3.50%
    <20% 44 $5,790,000 $131,591 $1,792 3.41%
    30-36% 40 $7,320,000 $183,000 $2,231 3.38%
    38% 15 $2,165,000 $144,333 $1,869 3.81%
    37% 8 $1,550,000 $193,750 $2,394 3.34%
    36% 7 $965,000 $137,857 $1,922 4.15%
    39% 7 $1,085,000 $155,000 $2,562 3.07%
    41% 6 $780,000 $130,000 $2,151 3.02%
    46% 5 $1,025,000 $205,000 $2,176 3.08%
    49% 3 $685,000 $228,333 $2,183 2.96%
    40% 3 $555,000 $185,000 $2,216 2.96%
    44% 2 $250,000 $125,000 $2,058 3.00%
    42% 2 $450,000 $225,000 $2,237 2.50%
    47% 2 $240,000 $120,000 $1,939 2.94%
    48% 2 $540,000 $270,000 $3,232 3.25%
    43% 2 $190,000 $95,000 $2,199 2.56%

    Peoples Bank lent most frequently to those with DTI ratios of 20-30%, with 75 originations. The next most common DTI ratio? <20%, with 44 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 232 $33,250,000 $143,319 $1,998 3.48%
    Not applicable 19 $7,425,000 $390,789 $0 3.80%
    Not provided 9 $1,845,000 $205,000 $2,527 3.75%
    Asian 2 $430,000 $215,000 $2,026 3.79%
    Black 1 $55,000 $55,000 $2,386 2.88%

    Approval Rates

    Total approvals of all applications
    97.11%

    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
    86.31%

    Peoples Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 263 $43,005,000 $163,517

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    263 $43,005,000 $163,517

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 38 $4,080,000 $107,368 $1,734 4.02%
    40-60% 47 $7,995,000 $170,106 $2,161 3.30%
    60-80% 99 $21,455,000 $216,717 $1,987 3.35%
    80-100% 40 $8,020,000 $200,500 $2,361 3.18%
    Under 20% 39 $1,455,000 $37,308 $439 4.06%

    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 Bank 1021 Main Street Scranton, IA 51462 Full Service B&M $32,591
    Peoples Bank 116 West State Street Jefferson, IA 50129 Full Service B&M $50,421
    Peoples Bank 1185 Southeast University Avenue Waukee, IA 50263 Full Service B&M $25,479
    Peoples Bank 12701 University Avenue Clive, IA 50325 Full Service B&M $57,914
    Peoples Bank 205 East Main Street Grand Junction, IA 50107 Full Service B&M $35,780
    Peoples Bank 303 Main Street Rippey, IA 50235 Full Service B&M $19,420
    Peoples Bank 338 West Walnut Street, P. O. Box 697 Ogden, IA 50212 Full Service B&M $8,084
    Peoples Bank 401 Main Street Guthrie Center, IA 50115 Full Service B&M $61,825
    Peoples Bank 804 Greenwood Hills Drive Adel, IA 50003 Full Service B&M $34,711

    For 2021, Peoples Bank had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $14,444
    Net interest income $12,972
    Total noninterest income $2,603
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $317
    Trading account gains and fees $0
    Additional Noninterest Income $2,286
    Pre-tax net operating income $4,796
    Securities gains (or losses, -) $-114
    Income before extraordinary items $4,457
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,457
    Minority interest net income $0
    Net income $4,457
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,565

    Peoples Bank's gross interest income from loans was $14,444,000.
    Peoples Bank's net interest income from loans was $12,972,000.
    Peoples Bank's fee based income from loans was $317,000.
    Peoples Bank's net income from loans was $4,457,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,472
    Provision for credit losses $175
    Total noninterest expense $10,604
    Salaries and employee benefits $6,466
    Premises and equipment expense $912
    Additional noninterest expense $3,226
    Applicable income taxes $225
    Net charge-offs $132
    Cash dividends $1,950

    Peoples Bank's interest expense for loans was $1,472,000.
    Peoples Bank's payroll and benefits expense were $6,466,000.
    Peoples Bank's property, plant and equipment expenses $912,000.

    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 1.0%
    HELOC loans 2.0%
    All other family 1.0%
    Commercial & industrial loans 3.0%
    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 $343,399
    Deposits held in domestic offices $343,399
    Deposits by Individuals, partnerships, and corporations $294,362
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $49,012
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $25
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $148,209
    Demand deposits $95,828
    Nontransaction accounts $195,190
    Money market deposit accounts (MMDAs) $88,186
    Other savings deposits (excluding MMDAs) $34,418
    Total time deposits $72,587
    Total time and savings deposits $247,571
    Noninterest-bearing deposits $73,730
    Interest-bearing deposits $269,669
    Retail deposits $316,558
    IRAs and Keogh plan accounts $6,118
    Brokered deposits $14,401
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $415,716
    Cash & Balances due from depository institutions $7,226
    Interest-bearing balances $2,155
    Total securities $132,896
    Federal funds sold & reverse repurchase $71
    Net loans and leases $246,394
    Loan and leases loss allowance $3,181
    Trading account assets $0
    Bank premises and fixed assets $7,749
    Other real estate owned $263
    Goodwill and other intangibles $14,305
    All other assets $6,812

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $415,716
    Total Liabilities $366,639
    Total deposits $343,399
    Interest-bearing deposits $269,669
    Deposits held in domestic offices $343,399
    % insured (estimated) $83
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $22,337
    Subordinated debt $0
    All other liabilities $903

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $246,394
    Loan and leases loss allowance $3,181
    Total loans and leases (domestic) $249,575
    All real estate loans $195,929
    Real estate loans in domestic offices $195,929
    Construction and development loans $18,465
    Residential 1-4 family construction $6,197
    Other construction, all land development and other land $12,268
    Loans secured by nonfarm nonresidential properties $75,018
    Nonfarm nonresidential secured by owner-occupied properties $9,341
    Commercial real estate & other non-farm, non-residential $65,677
    Multifamily residential real estate $20,013
    1-4 family residential loans $30,851
    Farmland loans $51,582
    Loans held in foreign offices $0
    Farm loans $35,632
    Commercial and industrial loans $13,794
    To non-U.S. addressees $0
    Loans to individuals $2,206
    Credit card loans $441
    Related Plans $34
    Consumer Auto Loans $1,157
    Other loans to individuals $574
    All other loans & leases $2,013
    Loans to foreign governments and official institutions $0
    Other loans $33
    Loans to depository institutions and acceptances of other banks $953
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $392
    Non 1-4 family restructured loans & leases $170
    Total loans and leases (foreign) $0

    Peoples Bank had $246,394,000 of loans outstanding in 2021. $195,929,000 of loans were in real estate loans. $18,465,000 of loans were in development loans. $20,013,000 of loans were in multifamily mortgage loans. $30,851,000 of loans were in 1-4 family mortgage loans. $35,632,000 of loans were in farm loans. $441,000 of loans were in credit card loans. $1,157,000 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 106 $18,445 $174,009
    Nonfarm, nonresidential loans - <$100k 50 $1,866 $37,320
    Nonfarm, nonresidential loans - $100-250k 31 $4,592 $148,129
    Nonfarm, nonresidential loans - $250k-1MM 25 $11,987 $479,480
    Commercial & Industrial, US addressed loans - <$1MM 160 $10,753 $67,206
    Commercial & Industrial, US addressed loans - <$100k 127 $2,707 $21,315
    Commercial & Industrial, US addressed loans - $100-250k 19 $2,113 $111,211
    Commercial & Industrial, US addressed loans - $250k-1MM 14 $5,933 $423,786
    Farmland loans - <$1MM 148 $22,187 $149,912
    Farmland loans - <$100k 53 $2,495 $47,075
    Farmland loans - $100-250k 57 $7,944 $139,368
    Farmland loans - $250k-1MM 38 $11,748 $309,158
    Agriculture operations loans - <$1MM 294 $19,799 $67,344
    Agriculture operations loans - <$100k 236 $7,673 $32,513
    Agriculture operations loans - $100-250k 40 $6,033 $150,825
    Agriculture operations loans - $250k-1MM 18 $6,093 $338,500