Peoples Bank Mortgage Rates, Fees & Info

Rock Valley, IA

LEI: 254900WQBZOLXT53K570

Tax ID: 42-0624950

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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 Bank is a smaller bank specializing in Home Purchase and Refi loans. Peoples Bank has a high proportion of conventional loans. Their top markets by origination volume include: Sioux City, Spirit Lake, Omaha, Sioux Falls, and Fargo among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Peoples Bank has an 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.

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    Originations

    143

    Origination Dollar Volume (All Markets)

    $14,655,000

    Employee count

    117

    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
    Outside of Metro Areas 95 $10,195,000 $107,316 $0 0.00%
    SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 40 $3,270,000 $81,750 $0 0.00%
    Spirit Lake, IA (FHA|USDA|VA) 2 $480,000 $240,000 $0 0.00%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 2 $280,000 $140,000 $0 0.00%
    SIOUX FALLS, SD (FHA|USDA|VA) 3 $265,000 $88,333 $0 0.00%
    FARGO, ND-MN (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
    Peoples Bank's top markets include Sioux City, Spirit Lake, Omaha, Sioux Falls, and Fargo among others.

    Their top states include:
  • Iowa (FHA|USDA|VA)
  • South Dakota (FHA|USDA|VA)
  • Nebraska (FHA|USDA|VA)
  • North Dakota (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 125 $12,495,000 $99,960 $0 0.00%
    USDA 18 $2,160,000 $120,000 $0 0.00%

    For 2018, Peoples Bank's most frequently originated type of loan was Conventional, with 125 originations. Their 2nd most popular type was USDA, with 18 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 85 $9,295,000 $109,353 $0 0.00%
    Refi 34 $4,450,000 $130,882 $0 0.00%
    Other 14 $720,000 $51,429 $0 0.00%
    Home Improvement 10 $190,000 $19,000 $0 0.00%

    For 2018, Peoples Bank's most frequently cited loan purpose was Home Purchase, with 85 originations. The 2nd most popular reason was Refi, with 34 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 143 $14,655,000 $102,483 $0 0.00%

    For 2018, Peoples Bank's most frequently cited loan duration was Other, with 143 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 84 $3,930,000 $46,786 $0 0.00%
    $100k-200k 45 $6,225,000 $138,333 $0 0.00%
    $200k-400k 12 $3,130,000 $260,833 $0 0.00%
    $400k-600k 1 $565,000 $565,000 $0 0.00%
    $600k-1MM 1 $805,000 $805,000 $0 0.00%

    2018 saw Peoples Bank place emphasis on $100,000 or less loans with 84 originations, totaling $3,930,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 41 $3,515,000 $85,732 $0 0.00%
    $50k-75k 23 $1,605,000 $69,783 $0 0.00%
    $150k-250k 14 $1,250,000 $89,286 $0 0.00%
    $100k-150k 11 $1,525,000 $138,636 $0 0.00%
    $75k-100k 11 $1,055,000 $95,909 $0 0.00%
    $250k+ 7 $1,435,000 $205,000 $0 0.00%

    Peoples Bank lent most frequently to those with incomes in the $50k or less range, with 41 originations. The second most popular income band? $50k-75k, with 23 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 143 $14,655,000 $102,483 $0 0.00%

    Peoples Bank lent most frequently to those with DTI ratios of Exempt%, with 143 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 116 $11,350,000 $97,845 $0 0.00%
    Not applicable 27 $3,305,000 $122,407 $0 0.00%

    Approval Rates

    Total approvals of all applications
    88.11%

    Peoples Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.01%

    Peoples Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 143 $14,655,000 $102,483

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 8 $1,990,000 $248,750
    Single Family (1-4 Units):Manufactured 2 $240,000 $120,000
    Single Family (1-4 Units):Site-Built 133 $12,425,000 $93,421

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Peoples Home Equity, Inc. Conventional home mortgage Closing on a mortgage 2 50.0%
    Peoples Home Equity, Inc. FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 25.0%
    Peoples Home Equity, Inc. Other type of mortgage Closing on a mortgage 1 25.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Peoples Bank 2400 Park Street Sheldon, IA 51201 Full Service B&M $54,693
    Peoples Bank 501 Thomas St Lester, IA 51242 Full Service B&M $36,053
    Peoples Bank 801 Central St Hawarden, IA 51023 Full Service B&M $47,240
    Peoples Bank 71 Hardy St Akron, IA 51001 Full Service B&M $37,276
    Peoples Bank 121 Wall St W Jasper, MN 56144 Full Service B&M $27,880
    Peoples Bank 1230 Valley Drive Rock Valley, IA 51247 Full Service B&M $124,478
    Peoples Bank 1701 South Main Avenue Sioux Center, IA 51250 Full Service B&M $86,474

    For 2018, Peoples Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $25,306
    Net interest income $20,603
    Total noninterest income $3,887
    Gross Fiduciary activities income $1,362
    Service charges on deposit accounts $923
    Trading account gains and fees $0
    Additional Noninterest Income $1,602
    Pre-tax net operating income $10,736
    Securities gains (or losses, -) $-127
    Income before extraordinary items $10,161
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $10,161
    Minority interest net income $0
    Net income $10,161
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $10,282

    Peoples Bank's gross interest income from loans was $25,306,000.
    Peoples Bank's net interest income from loans was $20,603,000.
    Peoples Bank's fee based income from loans was $923,000.
    Peoples Bank's net income from loans was $10,161,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,703
    Provision for credit losses $720
    Total noninterest expense $13,034
    Salaries and employee benefits $7,523
    Premises and equipment expense $2,068
    Additional noninterest expense $3,443
    Applicable income taxes $448
    Net charge-offs $8
    Cash dividends $18,070

    Peoples Bank's interest expense for loans was $4,703,000.
    Peoples Bank's payroll and benefits expense were $7,523,000.
    Peoples Bank's property, plant and equipment expenses $2,068,000.

    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 2.0%
    1-4 family residential loans 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.4%
    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 $495,876
    Deposits held in domestic offices $495,876
    Deposits by Individuals, partnerships, and corporations $436,027
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $59,598
    Deposits by Commercial banks and other depository institutions in U.S. $251
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $67,843
    Demand deposits $28,518
    Nontransaction accounts $428,033
    Money market deposit accounts (MMDAs) $112,450
    Other savings deposits (excluding MMDAs) $143,368
    Total time deposits $172,215
    Total time and savings deposits $467,358
    Noninterest-bearing deposits $98,316
    Interest-bearing deposits $397,560
    Retail deposits $429,779
    IRAs and Keogh plan accounts $20,061
    Brokered deposits $30,649
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $584,195
    Cash & Balances due from depository institutions $23,897
    Interest-bearing balances $8,483
    Total securities $43,820
    Federal funds sold & reverse repurchase $0
    Net loans and leases $489,364
    Loan and leases loss allowance $6,283
    Trading account assets $0
    Bank premises and fixed assets $7,644
    Other real estate owned $0
    Goodwill and other intangibles $8,482
    All other assets $10,988

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $584,195
    Total Liabilities $513,551
    Total deposits $495,876
    Interest-bearing deposits $397,560
    Deposits held in domestic offices $495,876
    % insured (estimated) $77
    Federal funds purchased and repurchase agreements $241
    Trading liabilities $0
    Other borrowed funds $14,020
    Subordinated debt $0
    All other liabilities $3,414

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $489,364
    Loan and leases loss allowance $6,283
    Total loans and leases (domestic) $495,647
    All real estate loans $191,748
    Real estate loans in domestic offices $191,748
    Construction and development loans $5,953
    Residential 1-4 family construction $5,921
    Other construction, all land development and other land $32
    Loans secured by nonfarm nonresidential properties $55,086
    Nonfarm nonresidential secured by owner-occupied properties $34,473
    Commercial real estate & other non-farm, non-residential $20,613
    Multifamily residential real estate $1,310
    1-4 family residential loans $39,016
    Farmland loans $90,383
    Loans held in foreign offices $0
    Farm loans $221,515
    Commercial and industrial loans $55,499
    To non-U.S. addressees $0
    Loans to individuals $8,815
    Credit card loans $272
    Related Plans $150
    Consumer Auto Loans $4,627
    Other loans to individuals $3,766
    All other loans & leases $18,069
    Loans to foreign governments and official institutions $0
    Other loans $252
    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 $45
    Non 1-4 family restructured loans & leases $45
    Total loans and leases (foreign) $0

    Peoples Bank had $489,364,000 of loans outstanding in 2018. $191,748,000 of loans were in real estate loans. $5,953,000 of loans were in development loans. $1,310,000 of loans were in multifamily mortgage loans. $39,016,000 of loans were in 1-4 family mortgage loans. $221,515,000 of loans were in farm loans. $272,000 of loans were in credit card loans. $4,627,000 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 222 $33,292 $149,964
    Nonfarm, nonresidential loans - <$100k 100 $4,348 $43,480
    Nonfarm, nonresidential loans - $100-250k 63 $8,177 $129,794
    Nonfarm, nonresidential loans - $250k-1MM 59 $20,767 $351,983
    Commercial & Industrial, US addressed loans - <$1MM 386 $31,003 $80,319
    Commercial & Industrial, US addressed loans - <$100k 249 $5,816 $23,357
    Commercial & Industrial, US addressed loans - $100-250k 84 $9,013 $107,298
    Commercial & Industrial, US addressed loans - $250k-1MM 53 $16,174 $305,170
    Farmland loans - <$1MM 214 $34,336 $160,449
    Farmland loans - <$100k 48 $2,212 $46,083
    Farmland loans - $100-250k 89 $11,284 $126,787
    Farmland loans - $250k-1MM 77 $20,840 $270,649
    Agriculture operations loans - <$1MM 427 $37,709 $88,311
    Agriculture operations loans - <$100k 214 $4,833 $22,584
    Agriculture operations loans - $100-250k 121 $11,875 $98,140
    Agriculture operations loans - $250k-1MM 92 $21,001 $228,272