Peoples Bank Mortgage Rates, Fees & Info

Rock Valley, IA

LEI: 254900WQBZOLXT53K570

Tax ID: 42-0624950

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Mortgage Data

Bank Data

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, Spirit Lake, Omaha, and Mitchell among others. We have data for 14 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.

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Originations

134

Origination Dollar Volume (All Markets)

$29,850,000

Employee count

119

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 72 $13,530,000 $187,917 $0 0.00%
SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 38 $8,810,000 $231,842 $0 0.00%
SIOUX FALLS, SD (FHA|USDA|VA) 6 $2,120,000 $353,333 $0 0.00%
Spirit Lake, IA (FHA|USDA|VA) 6 $2,030,000 $338,333 $0 0.00%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 3 $935,000 $311,667 $0 0.00%
Mitchell, SD (FHA|USDA|VA) 1 $635,000 $635,000 $0 0.00%
Brainerd, MN (FHA|USDA|VA) 1 $485,000 $485,000 $0 0.00%
Marietta, OH (FHA|USDA|VA) 1 $355,000 $355,000 $0 0.00%
Kill Devil Hills, NC (FHA|USDA|VA) 1 $285,000 $285,000 $0 0.00%
RAPID CITY, SD (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
Fergus Falls, MN (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
Watertown, SD (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
Storm Lake, IA (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
Willmar, MN (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.00%
Peoples Bank's top markets include Sioux City, Sioux Falls, Spirit Lake, Omaha, and Mitchell among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 116 $27,370,000 $235,948 $0 0.00%
    USDA 18 $2,480,000 $137,778 $0 0.00%

    For 2021, Peoples Bank's most frequently originated type of loan was Conventional, with 116 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 92 $18,300,000 $198,913 $0 0.00%
    Refi 35 $11,035,000 $315,286 $0 0.00%
    Home Improvement 4 $130,000 $32,500 $0 0.00%
    Other 3 $385,000 $128,333 $0 0.00%

    For 2021, Peoples Bank's most frequently cited loan purpose was Home Purchase, with 92 originations. The 2nd most popular reason was Refi, with 35 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 134 $29,850,000 $222,761 $0 0.00%

    For 2021, Peoples Bank's most frequently cited loan duration was Other, with 134 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 51 $2,955,000 $57,941 $0 0.00%
    $100k-200k 40 $5,800,000 $145,000 $0 0.00%
    $200k-400k 30 $8,290,000 $276,333 $0 0.00%
    $400k-600k 6 $2,800,000 $466,667 $0 0.00%
    $600k-1MM 5 $3,695,000 $739,000 $0 0.00%
    $1MM+ 2 $6,310,000 $3,155,000 $0 0.00%

    2021 saw Peoples Bank place emphasis on $100,000 or less loans with 51 originations, totaling $2,955,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 24 $2,990,000 $124,583 $0 0.00%
    $50k-75k 23 $2,605,000 $113,261 $0 0.00%
    $75k-100k 12 $1,470,000 $122,500 $0 0.00%
    $100k-150k 8 $1,570,000 $196,250 $0 0.00%
    $250k+ 8 $2,700,000 $337,500 $0 0.00%
    $150k-250k 6 $1,510,000 $251,667 $0 0.00%

    Peoples Bank lent most frequently to those with incomes in the $50k or less range, with 24 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% 134 $29,850,000 $222,761 $0 0.00%

    Peoples Bank lent most frequently to those with DTI ratios of Exempt%, with 134 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 49 $16,785,000 $342,551 $0 0.00%
    White 83 $12,775,000 $153,916 $0 0.00%
    Asian 1 $145,000 $145,000 $0 0.00%
    Not provided 1 $145,000 $145,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    83.33%

    Peoples Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    76.12%

    Peoples Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 134 $29,850,000 $222,761

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    134 $29,850,000 $222,761

    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 121 Wall St W Jasper, MN 56144 Full Service B&M $37,898
    Peoples Bank 1230 Valley Drive Rock Valley, IA 51247 Full Service B&M $169,700
    Peoples Bank 1701 South Main Avenue Sioux Center, IA 51250 Full Service B&M $136,007
    Peoples Bank 1901 Morningside Avenue Sioux City, IA 51106 Full Service B&M $51,260
    Peoples Bank 2400 Park Street Sheldon, IA 51201 Full Service B&M $85,938
    Peoples Bank 468 Titan Road Hinton, IA 51024 Full Service B&M $11,531
    Peoples Bank 501 Thomas St Lester, IA 51242 Full Service B&M $45,132
    Peoples Bank 71 Hardy St Akron, IA 51001 Full Service B&M $42,643
    Peoples Bank 801 Central St Hawarden, IA 51023 Full Service B&M $65,002

    For 2021, Peoples Bank had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $29,204
    Net interest income $25,781
    Total noninterest income $5,871
    Gross Fiduciary activities income $1,902
    Service charges on deposit accounts $834
    Trading account gains and fees $0
    Additional Noninterest Income $3,135
    Pre-tax net operating income $14,794
    Securities gains (or losses, -) $48
    Income before extraordinary items $14,213
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $14,213
    Minority interest net income $0
    Net income $14,213
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $14,166

    Peoples Bank's gross interest income from loans was $29,204,000.
    Peoples Bank's net interest income from loans was $25,781,000.
    Peoples Bank's fee based income from loans was $834,000.
    Peoples Bank's net income from loans was $14,213,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,423
    Provision for credit losses $660
    Total noninterest expense $16,198
    Salaries and employee benefits $10,154
    Premises and equipment expense $2,401
    Additional noninterest expense $3,643
    Applicable income taxes $629
    Net charge-offs $176
    Cash dividends $10,113

    Peoples Bank's interest expense for loans was $3,423,000.
    Peoples Bank's payroll and benefits expense were $10,154,000.
    Peoples Bank's property, plant and equipment expenses $2,401,000.

    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 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    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 $700,826
    Deposits held in domestic offices $700,826
    Deposits by Individuals, partnerships, and corporations $607,166
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $93,162
    Deposits by Commercial banks and other depository institutions in U.S. $497
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $307,468
    Demand deposits $145,341
    Nontransaction accounts $393,357
    Money market deposit accounts (MMDAs) $184,425
    Other savings deposits (excluding MMDAs) $49,563
    Total time deposits $159,368
    Total time and savings deposits $555,484
    Noninterest-bearing deposits $145,777
    Interest-bearing deposits $555,049
    Retail deposits $640,183
    IRAs and Keogh plan accounts $21,914
    Brokered deposits $28,104
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $801,659
    Cash & Balances due from depository institutions $27,207
    Interest-bearing balances $7,440
    Total securities $83,011
    Federal funds sold & reverse repurchase $58,248
    Net loans and leases $602,434
    Loan and leases loss allowance $8,252
    Trading account assets $0
    Bank premises and fixed assets $11,659
    Other real estate owned $0
    Goodwill and other intangibles $8,216
    All other assets $10,884

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $801,659
    Total Liabilities $709,821
    Total deposits $700,826
    Interest-bearing deposits $555,049
    Deposits held in domestic offices $700,826
    % insured (estimated) $69
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $5,000
    Subordinated debt $0
    All other liabilities $3,995

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $602,434
    Loan and leases loss allowance $8,252
    Total loans and leases (domestic) $610,686
    All real estate loans $215,533
    Real estate loans in domestic offices $215,533
    Construction and development loans $4,403
    Residential 1-4 family construction $4,403
    Other construction, all land development and other land $0
    Loans secured by nonfarm nonresidential properties $67,997
    Nonfarm nonresidential secured by owner-occupied properties $38,419
    Commercial real estate & other non-farm, non-residential $29,578
    Multifamily residential real estate $7,695
    1-4 family residential loans $35,441
    Farmland loans $99,997
    Loans held in foreign offices $0
    Farm loans $255,345
    Commercial and industrial loans $98,551
    To non-U.S. addressees $0
    Loans to individuals $10,831
    Credit card loans $274
    Related Plans $74
    Consumer Auto Loans $5,332
    Other loans to individuals $5,151
    All other loans & leases $30,427
    Loans to foreign governments and official institutions $0
    Other loans $152
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Peoples Bank had $602,434,000 of loans outstanding in 2021. $215,533,000 of loans were in real estate loans. $4,403,000 of loans were in development loans. $7,695,000 of loans were in multifamily mortgage loans. $35,441,000 of loans were in 1-4 family mortgage loans. $255,345,000 of loans were in farm loans. $274,000 of loans were in credit card loans. $5,332,000 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 233 $39,604 $169,974
    Nonfarm, nonresidential loans - <$100k 107 $5,131 $47,953
    Nonfarm, nonresidential loans - $100-250k 60 $7,891 $131,517
    Nonfarm, nonresidential loans - $250k-1MM 66 $26,582 $402,758
    Commercial & Industrial, US addressed loans - <$1MM 454 $39,584 $87,189
    Commercial & Industrial, US addressed loans - <$100k 266 $6,659 $25,034
    Commercial & Industrial, US addressed loans - $100-250k 117 $12,156 $103,897
    Commercial & Industrial, US addressed loans - $250k-1MM 71 $20,769 $292,521
    Farmland loans - <$1MM 190 $30,721 $161,689
    Farmland loans - <$100k 42 $2,157 $51,357
    Farmland loans - $100-250k 67 $8,270 $123,433
    Farmland loans - $250k-1MM 81 $20,294 $250,543
    Agriculture operations loans - <$1MM 389 $32,615 $83,843
    Agriculture operations loans - <$100k 186 $4,416 $23,742
    Agriculture operations loans - $100-250k 132 $12,945 $98,068
    Agriculture operations loans - $250k-1MM 71 $15,254 $214,845