Peoples Bank Of Alabama Mortgage Rates, Fees & Info

Cullman, AL

LEI: 5493002XCPKQYCZ56W55

Tax ID: 63-0728482

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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 Of Alabama is a smaller bank specializing in Refi and Home Purchase loans. Peoples Bank Of Alabama has a high proportion of conventional loans. Their top markets by origination volume include: Cullman, Decatur, Birmingham, Albertville, and Gadsden among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Peoples Bank Of Alabama 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

    133

    Origination Dollar Volume (All Markets)

    $13,775,000

    Employee count

    271

    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
    Cullman, AL (FHA|USDA|VA) 34 $3,720,000 $109,412 $0 0.00%
    DECATUR, AL (FHA|USDA|VA) 30 $3,150,000 $105,000 $0 0.00%
    BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 30 $3,030,000 $101,000 $0 0.00%
    Albertville, AL (FHA|USDA|VA) 23 $1,965,000 $85,435 $0 0.00%
    GADSDEN, AL (FHA|USDA|VA) 5 $385,000 $77,000 $0 0.00%
    Outside of Metro Areas 5 $365,000 $73,000 $0 0.00%
    TUSCALOOSA, AL (FHA|USDA|VA) 1 $315,000 $315,000 $0 0.00%
    Jasper, AL (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
    Talladega-Sylacauga, AL (FHA|USDA|VA) 2 $220,000 $110,000 $0 0.00%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
    HUNTSVILLE, AL (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
    Peoples Bank Of Alabama's top markets include Cullman, Decatur, Birmingham, Albertville, and Gadsden among others.

    Their top states include:
  • Alabama (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 133 $13,775,000 $103,571 $0 0.00%

    For 2018, Peoples Bank Of Alabama's most frequently originated type of loan was Conventional, with 133 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 66 $6,050,000 $91,667 $0 0.00%
    Home Purchase 52 $6,620,000 $127,308 $0 0.00%
    Home Improvement 10 $520,000 $52,000 $0 0.00%
    Other 5 $585,000 $117,000 $0 0.00%

    For 2018, Peoples Bank Of Alabama's most frequently cited loan purpose was Refi, with 66 originations. The 2nd most popular reason was Home Purchase, with 52 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 133 $13,775,000 $103,571 $0 0.00%

    For 2018, Peoples Bank Of Alabama's most frequently cited loan duration was Other, with 133 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 91 $5,025,000 $55,220 $0 0.00%
    $100k-200k 29 $4,165,000 $143,621 $0 0.00%
    $200k-400k 9 $2,535,000 $281,667 $0 0.00%
    $400k-600k 3 $1,425,000 $475,000 $0 0.00%
    $600k-1MM 1 $625,000 $625,000 $0 0.00%

    2018 saw Peoples Bank Of Alabama place emphasis on $100,000 or less loans with 91 originations, totaling $5,025,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 27 $1,665,000 $61,667 $0 0.00%
    $75k-100k 23 $1,485,000 $64,565 $0 0.00%
    $100k-150k 19 $1,765,000 $92,895 $0 0.00%
    $150k-250k 14 $1,180,000 $84,286 $0 0.00%
    $50k-75k 14 $1,170,000 $83,571 $0 0.00%
    $250k+ 11 $1,835,000 $166,818 $0 0.00%

    Peoples Bank Of Alabama lent most frequently to those with incomes in the $50k or less range, with 27 originations. The second most popular income band? $75k-100k, with 23 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 133 $13,775,000 $103,571 $0 0.00%

    Peoples Bank Of Alabama lent most frequently to those with DTI ratios of Exempt%, with 133 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 108 $9,540,000 $88,333 $0 0.00%
    Not applicable 20 $3,880,000 $194,000 $0 0.00%
    Not provided 1 $185,000 $185,000 $0 0.00%
    Native Hawaiian 1 $55,000 $55,000 $0 0.00%
    Asian 1 $45,000 $45,000 $0 0.00%
    Native Hawaiian or Islander 1 $35,000 $35,000 $0 0.00%
    Black 1 $35,000 $35,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    84.28%

    Peoples Bank Of Alabama has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    54.89%

    Peoples Bank Of Alabama has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 133 $13,775,000 $103,571

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $305,000 $305,000
    Multifamily:Site-Built 7 $1,705,000 $243,571
    Single Family (1-4 Units):Manufactured 19 $1,125,000 $59,211
    Single Family (1-4 Units):Site-Built 106 $10,640,000 $100,377

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION Conventional home mortgage Closing on a mortgage 2 40.0%
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION Conventional home mortgage Trouble during payment process 2 40.0%
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION Other type of mortgage Closing on a mortgage 1 20.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Peoples Bank of Alabama 104 Main Street Hanceville, AL 35077 Full Service B&M $16,984
    Peoples Bank of Alabama 10437 Highway 36 Laceys Spring, AL 35754 Full Service B&M $16,107
    Peoples Bank of Alabama 10695 Us Hwy 278 East Holly Pond, AL 35083 Full Service B&M $23,777
    Peoples Bank of Alabama 12081 Alabama Highway 69 North Baileyton, AL 35019 Full Service B&M $7,484
    Peoples Bank of Alabama 1285 Chestnut Bypass Centre, AL 35960 Full Service B&M $50,829
    Peoples Bank of Alabama 14340 Highway 431 North Guntersville, AL 35976 Full Service B&M $9,416
    Peoples Bank of Alabama 1737 6th Avenue, Se Decatur, AL 35601 Full Service B&M $24,590
    Peoples Bank of Alabama 1800 International Parkway, Ste 190 Birmingham, AL 35243 Full Service B&M $19,964
    Peoples Bank of Alabama 1912 Cherokee Avenue, Sw Cullman, AL 35055 Full Service B&M $141,168
    Peoples Bank of Alabama 200 Billy D. Dyar Boulevard Boaz, AL 35957 Full Service B&M $10,271
    Peoples Bank of Alabama 2133 North Brindlee Mtn. Pkwy. Arab, AL 35016 Full Service B&M $27,351
    Peoples Bank of Alabama 29900 State Highway 79 Locust Fork, AL 35097 Full Service B&M $13,278
    Peoples Bank of Alabama 3105 Rainbow Drive Rainbow City, AL 35906 Full Service B&M $3,068
    Peoples Bank of Alabama 336 Fieldstown Road Gardendale, AL 35071 Full Service B&M $41,944
    Peoples Bank of Alabama 400 West Meighan Boulevard Gadsden, AL 35901 Full Service B&M $33,078
    Peoples Bank of Alabama 401 Lee Street Ne Decatur, AL 35601 Limited, Drive-thru $56,943
    Peoples Bank of Alabama 420 Caldwell Drive Warrior, AL 35180 Limited, Mobile/Seasonal Office $24,013
    Peoples Bank of Alabama 435 Alabama Highway 69 South Dodge City, AL 35077 Full Service B&M $11,510
    Peoples Bank of Alabama 501 Highway 31, Sw Hartselle, AL 35640 Full Service B&M $24,607
    Peoples Bank of Alabama 5052 Alabama Highway 157 North Cullman, AL 35057 Full Service B&M $17,503
    Peoples Bank of Alabama 5276 Highway 67 Somerville, AL 35670 Full Service B&M $14,698
    Peoples Bank of Alabama 68870 Main Street, South Blountsville, AL 35031 Full Service B&M $18,300
    Peoples Bank of Alabama 7473 U.S. Highway 431 Albertville, AL 35950 Full Service B&M $18,866
    Peoples Bank of Alabama 910 North Brindlee Mountain Parkway Arab, AL 35016 Full Service B&M $22,162
    Peoples Bank of Alabama 918 2nd Avenue East Oneonta, AL 35121 Full Service B&M $19,612

    For 2018, Peoples Bank Of Alabama had 25 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $35,823
    Net interest income $32,466
    Total noninterest income $14,749
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $8,022
    Trading account gains and fees $0
    Additional Noninterest Income $6,727
    Pre-tax net operating income $12,969
    Securities gains (or losses, -) $2
    Income before extraordinary items $12,430
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $12,430
    Minority interest net income $0
    Net income $12,430
    Sale, conversion, retirement of capital stock, net $269
    Net operating income $12,428

    Peoples Bank Of Alabama's gross interest income from loans was $35,823,000.
    Peoples Bank Of Alabama's net interest income from loans was $32,466,000.
    Peoples Bank Of Alabama's fee based income from loans was $8,022,000.
    Peoples Bank Of Alabama's net income from loans was $12,430,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,357
    Provision for credit losses $1,146
    Total noninterest expense $33,100
    Salaries and employee benefits $19,417
    Premises and equipment expense $4,913
    Additional noninterest expense $8,770
    Applicable income taxes $541
    Net charge-offs $2,435
    Cash dividends $2,932

    Peoples Bank Of Alabama's interest expense for loans was $3,357,000.
    Peoples Bank Of Alabama's payroll and benefits expense were $19,417,000.
    Peoples Bank Of Alabama's property, plant and equipment expenses $4,913,000.

    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 1.0%
    Commercial & industrial loans 1.0%
    Personal loans 0.0%
    Credit card loans 0.3%
    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 $689,565
    Deposits held in domestic offices $689,565
    Deposits by Individuals, partnerships, and corporations $634,287
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $55,278
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $206,811
    Demand deposits $206,811
    Nontransaction accounts $482,754
    Money market deposit accounts (MMDAs) $306,276
    Other savings deposits (excluding MMDAs) $70,045
    Total time deposits $106,433
    Total time and savings deposits $482,754
    Noninterest-bearing deposits $78,422
    Interest-bearing deposits $611,143
    Retail deposits $670,279
    IRAs and Keogh plan accounts $20,086
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $786,448
    Cash & Balances due from depository institutions $73,358
    Interest-bearing balances $62,214
    Total securities $51,016
    Federal funds sold & reverse repurchase $10,490
    Net loans and leases $603,537
    Loan and leases loss allowance $9,814
    Trading account assets $0
    Bank premises and fixed assets $21,730
    Other real estate owned $537
    Goodwill and other intangibles $4,717
    All other assets $21,063

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $786,448
    Total Liabilities $712,440
    Total deposits $689,565
    Interest-bearing deposits $611,143
    Deposits held in domestic offices $689,565
    % insured (estimated) $82
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $18,209
    Subordinated debt $0
    All other liabilities $4,666

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $603,537
    Loan and leases loss allowance $9,814
    Total loans and leases (domestic) $613,351
    All real estate loans $422,359
    Real estate loans in domestic offices $422,359
    Construction and development loans $63,295
    Residential 1-4 family construction $15,620
    Other construction, all land development and other land $47,675
    Loans secured by nonfarm nonresidential properties $223,771
    Nonfarm nonresidential secured by owner-occupied properties $107,095
    Commercial real estate & other non-farm, non-residential $116,676
    Multifamily residential real estate $10,936
    1-4 family residential loans $101,587
    Farmland loans $22,770
    Loans held in foreign offices $0
    Farm loans $4,410
    Commercial and industrial loans $137,215
    To non-U.S. addressees $0
    Loans to individuals $20,645
    Credit card loans $3,667
    Related Plans $1,864
    Consumer Auto Loans $3,342
    Other loans to individuals $11,772
    All other loans & leases $28,769
    Loans to foreign governments and official institutions $0
    Other loans $19,103
    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 $8,281
    Non 1-4 family restructured loans & leases $7,346
    Total loans and leases (foreign) $0

    Peoples Bank of Alabama had $603,537,000 of loans outstanding in 2018. $422,359,000 of loans were in real estate loans. $63,295,000 of loans were in development loans. $10,936,000 of loans were in multifamily mortgage loans. $101,587,000 of loans were in 1-4 family mortgage loans. $4,410,000 of loans were in farm loans. $3,667,000 of loans were in credit card loans. $3,342,000 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 320 $69,629 $217,591
    Nonfarm, nonresidential loans - <$100k 76 $3,257 $42,855
    Nonfarm, nonresidential loans - $100-250k 113 $14,803 $131,000
    Nonfarm, nonresidential loans - $250k-1MM 131 $51,569 $393,656
    Commercial & Industrial, US addressed loans - <$1MM 588 $38,424 $65,347
    Commercial & Industrial, US addressed loans - <$100k 414 $10,497 $25,355
    Commercial & Industrial, US addressed loans - $100-250k 98 $9,658 $98,551
    Commercial & Industrial, US addressed loans - $250k-1MM 76 $18,269 $240,382
    Farmland loans - <$1MM 78 $8,764 $112,359
    Farmland loans - <$100k 37 $1,302 $35,189
    Farmland loans - $100-250k 26 $2,847 $109,500
    Farmland loans - $250k-1MM 15 $4,615 $307,667
    Agriculture operations loans - <$1MM 48 $2,244 $46,750
    Agriculture operations loans - <$100k 36 $855 $23,750
    Agriculture operations loans - $100-250k 7 $628 $89,714
    Agriculture operations loans - $250k-1MM 5 $761 $152,200