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, Sioux Falls, Omaha, and Phoenix among others. We have data for 5 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

    110

    Origination Dollar Volume (All Markets)

    $13,320,000

    Employee count

    113

    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 57 $6,465,000 $113,421 $0 0.00%
    SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 48 $4,220,000 $87,917 $0 0.00%
    SIOUX FALLS, SD (FHA|USDA|VA) 3 $1,335,000 $445,000 $0 0.00%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 1 $925,000 $925,000 $0 0.00%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $375,000 $375,000 $0 0.00%
    Peoples Bank's top markets include Sioux City, Sioux Falls, Omaha, and Phoenix among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 105 $12,625,000 $120,238 $0 0.00%
    USDA 5 $695,000 $139,000 $0 0.00%

    For 2019, Peoples Bank's most frequently originated type of loan was Conventional, with 105 originations. Their 2nd most popular type was USDA, with 5 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 66 $8,380,000 $126,970 $0 0.00%
    Refi 24 $4,120,000 $171,667 $0 0.00%
    Home Improvement 10 $470,000 $47,000 $0 0.00%
    Other 10 $350,000 $35,000 $0 0.00%

    For 2019, Peoples Bank's most frequently cited loan purpose was Home Purchase, with 66 originations. The 2nd most popular reason was Refi, with 24 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 110 $13,320,000 $121,091 $0 0.00%

    For 2019, Peoples Bank's most frequently cited loan duration was Other, with 110 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 66 $3,400,000 $51,515 $0 0.00%
    $100k-200k 26 $3,700,000 $142,308 $0 0.00%
    $200k-400k 15 $4,135,000 $275,667 $0 0.00%
    $600k-1MM 2 $1,550,000 $775,000 $0 0.00%
    $400k-600k 1 $535,000 $535,000 $0 0.00%

    2019 saw Peoples Bank place emphasis on $100,000 or less loans with 66 originations, totaling $3,400,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 25 $2,125,000 $85,000 $0 0.00%
    $50k-75k 20 $2,360,000 $118,000 $0 0.00%
    $75k-100k 14 $1,480,000 $105,714 $0 0.00%
    $100k-150k 12 $960,000 $80,000 $0 0.00%
    $150k-250k 4 $990,000 $247,500 $0 0.00%
    $250k+ 2 $1,030,000 $515,000 $0 0.00%

    Peoples Bank lent most frequently to those with incomes in the $50k or less range, with 25 originations. The second most popular income band? $50k-75k, with 20 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 110 $13,320,000 $121,091 $0 0.00%

    Peoples Bank lent most frequently to those with DTI ratios of Exempt%, with 110 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 80 $9,040,000 $113,000 $0 0.00%
    Not applicable 26 $3,960,000 $152,308 $0 0.00%
    Not provided 4 $320,000 $80,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    86.59%

    Peoples Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    70.91%

    Peoples Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 110 $13,320,000 $121,091

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 12 $2,920,000 $243,333
    Single Family (1-4 Units):Manufactured 2 $230,000 $115,000
    Single Family (1-4 Units):Site-Built 96 $10,170,000 $105,938

    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 71 Hardy St Akron, IA 51001 Full Service B&M $37,196
    Peoples Bank 121 Wall St W Jasper, MN 56144 Full Service B&M $27,534
    Peoples Bank 1230 Valley Drive Rock Valley, IA 51247 Full Service B&M $122,317
    Peoples Bank 1701 South Main Avenue Sioux Center, IA 51250 Full Service B&M $100,889
    Peoples Bank 1901 Morningside Avenue Sioux City, IA 51106 Full Service B&M $38,047
    Peoples Bank 2400 Park Street Sheldon, IA 51201 Full Service B&M $56,021
    Peoples Bank 468 Titan Road Hinton, IA 51024 Full Service B&M $7,965
    Peoples Bank 501 Thomas St Lester, IA 51242 Full Service B&M $38,390
    Peoples Bank 801 Central St Hawarden, IA 51023 Full Service B&M $49,348

    For 2019, Peoples Bank had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $29,258
    Net interest income $22,223
    Total noninterest income $4,748
    Gross Fiduciary activities income $1,476
    Service charges on deposit accounts $967
    Trading account gains and fees $0
    Additional Noninterest Income $2,305
    Pre-tax net operating income $12,361
    Securities gains (or losses, -) $33
    Income before extraordinary items $11,869
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $11,869
    Minority interest net income $0
    Net income $11,869
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $11,837

    Peoples Bank's gross interest income from loans was $29,258,000.
    Peoples Bank's net interest income from loans was $22,223,000.
    Peoples Bank's fee based income from loans was $967,000.
    Peoples Bank's net income from loans was $11,869,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $7,035
    Provision for credit losses $960
    Total noninterest expense $13,650
    Salaries and employee benefits $8,675
    Premises and equipment expense $2,117
    Additional noninterest expense $2,858
    Applicable income taxes $525
    Net charge-offs $-77
    Cash dividends $4,669

    Peoples Bank's interest expense for loans was $7,035,000.
    Peoples Bank's payroll and benefits expense were $8,675,000.
    Peoples Bank's property, plant and equipment expenses $2,117,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    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 1.2%
    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 $545,888
    Deposits held in domestic offices $545,888
    Deposits by Individuals, partnerships, and corporations $480,354
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $62,799
    Deposits by Commercial banks and other depository institutions in U.S. $2,735
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $72,395
    Demand deposits $27,390
    Nontransaction accounts $473,493
    Money market deposit accounts (MMDAs) $145,013
    Other savings deposits (excluding MMDAs) $145,754
    Total time deposits $182,726
    Total time and savings deposits $518,498
    Noninterest-bearing deposits $96,665
    Interest-bearing deposits $449,223
    Retail deposits $486,888
    IRAs and Keogh plan accounts $21,600
    Brokered deposits $20,193
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $638,804
    Cash & Balances due from depository institutions $15,201
    Interest-bearing balances $4,691
    Total securities $41,894
    Federal funds sold & reverse repurchase $26,285
    Net loans and leases $526,908
    Loan and leases loss allowance $7,320
    Trading account assets $0
    Bank premises and fixed assets $8,462
    Other real estate owned $0
    Goodwill and other intangibles $8,393
    All other assets $11,661

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $638,804
    Total Liabilities $559,375
    Total deposits $545,888
    Interest-bearing deposits $449,223
    Deposits held in domestic offices $545,888
    % insured (estimated) $73
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $9,200
    Subordinated debt $0
    All other liabilities $4,287

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $526,908
    Loan and leases loss allowance $7,320
    Total loans and leases (domestic) $534,228
    All real estate loans $205,286
    Real estate loans in domestic offices $205,286
    Construction and development loans $4,282
    Residential 1-4 family construction $4,254
    Other construction, all land development and other land $28
    Loans secured by nonfarm nonresidential properties $61,761
    Nonfarm nonresidential secured by owner-occupied properties $39,357
    Commercial real estate & other non-farm, non-residential $22,404
    Multifamily residential real estate $1,153
    1-4 family residential loans $36,481
    Farmland loans $101,609
    Loans held in foreign offices $0
    Farm loans $235,309
    Commercial and industrial loans $69,039
    To non-U.S. addressees $0
    Loans to individuals $9,365
    Credit card loans $253
    Related Plans $139
    Consumer Auto Loans $4,574
    Other loans to individuals $4,399
    All other loans & leases $15,229
    Loans to foreign governments and official institutions $0
    Other loans $599
    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 $43
    Non 1-4 family restructured loans & leases $43
    Total loans and leases (foreign) $0

    Peoples Bank had $526,908,000 of loans outstanding in 2019. $205,286,000 of loans were in real estate loans. $4,282,000 of loans were in development loans. $1,153,000 of loans were in multifamily mortgage loans. $36,481,000 of loans were in 1-4 family mortgage loans. $235,309,000 of loans were in farm loans. $253,000 of loans were in credit card loans. $4,574,000 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 231 $33,668 $145,749
    Nonfarm, nonresidential loans - <$100k 104 $4,689 $45,087
    Nonfarm, nonresidential loans - $100-250k 72 $8,938 $124,139
    Nonfarm, nonresidential loans - $250k-1MM 55 $20,041 $364,382
    Commercial & Industrial, US addressed loans - <$1MM 440 $39,340 $89,409
    Commercial & Industrial, US addressed loans - <$100k 272 $6,845 $25,165
    Commercial & Industrial, US addressed loans - $100-250k 100 $11,017 $110,170
    Commercial & Industrial, US addressed loans - $250k-1MM 68 $21,478 $315,853
    Farmland loans - <$1MM 208 $35,113 $168,813
    Farmland loans - <$100k 40 $1,885 $47,125
    Farmland loans - $100-250k 86 $10,437 $121,360
    Farmland loans - $250k-1MM 82 $22,791 $277,939
    Agriculture operations loans - <$1MM 404 $34,836 $86,228
    Agriculture operations loans - <$100k 207 $4,799 $23,184
    Agriculture operations loans - $100-250k 120 $12,345 $102,875
    Agriculture operations loans - $250k-1MM 77 $17,692 $229,766