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 Home Purchase and Refi loans. Peoples Bank Of Alabama has a high proportion of conventional loans. Their top markets by origination volume include: Albertville, Cullman, Decatur, Birmingham, and Huntsville among others. We have data for 15 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

    137

    Origination Dollar Volume (All Markets)

    $32,945,000

    Employee count

    268

    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
    Albertville, AL (FHA|USDA|VA) 25 $11,525,000 $461,000 $0 0.00%
    Cullman, AL (FHA|USDA|VA) 26 $4,490,000 $172,692 $0 0.00%
    DECATUR, AL (FHA|USDA|VA) 22 $4,120,000 $187,273 $0 0.00%
    BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 27 $3,295,000 $122,037 $0 0.00%
    HUNTSVILLE, AL (FHA|USDA|VA) 12 $2,440,000 $203,333 $0 0.00%
    GADSDEN, AL (FHA|USDA|VA) 10 $1,920,000 $192,000 $0 0.00%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 2 $1,250,000 $625,000 $0 0.00%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $1,035,000 $1,035,000 $0 0.00%
    Fort Payne, AL (FHA|USDA|VA) 2 $820,000 $410,000 $0 0.00%
    Outside of Metro Areas 4 $570,000 $142,500 $0 0.00%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $505,000 $505,000 $0 0.00%
    TUSCALOOSA, AL (FHA|USDA|VA) 1 $415,000 $415,000 $0 0.00%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $395,000 $395,000 $0 0.00%
    JACKSON, TN (FHA|USDA|VA) 2 $130,000 $65,000 $0 0.00%
    LaGrange, GA-AL (FHA|USDA|VA) 1 $35,000 $35,000 $0 0.00%
    Peoples Bank Of Alabama's top markets include Albertville, Cullman, Decatur, Birmingham, and Huntsville among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 137 $32,945,000 $240,474 $0 0.00%

    For 2020, Peoples Bank Of Alabama's most frequently originated type of loan was Conventional, with 137 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 68 $13,990,000 $205,735 $0 0.00%
    Refi 58 $18,130,000 $312,586 $0 0.00%
    Home Improvement 7 $455,000 $65,000 $0 0.00%
    Other 4 $370,000 $92,500 $0 0.00%

    For 2020, Peoples Bank Of Alabama's most frequently cited loan purpose was Home Purchase, with 68 originations. The 2nd most popular reason was Refi, with 58 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 137 $32,945,000 $240,474 $0 0.00%

    For 2020, Peoples Bank Of Alabama's most frequently cited loan duration was Other, with 137 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 70 $3,870,000 $55,286 $0 0.00%
    $100k-200k 30 $3,990,000 $133,000 $0 0.00%
    $200k-400k 20 $5,350,000 $267,500 $0 0.00%
    $400k-600k 9 $4,365,000 $485,000 $0 0.00%
    $1MM+ 4 $12,140,000 $3,035,000 $0 0.00%
    $600k-1MM 4 $3,230,000 $807,500 $0 0.00%

    2020 saw Peoples Bank Of Alabama place emphasis on $100,000 or less loans with 70 originations, totaling $3,870,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 20 $1,650,000 $82,500 $0 0.00%
    $50k-75k 20 $2,130,000 $106,500 $0 0.00%
    $150k-250k 17 $2,725,000 $160,294 $0 0.00%
    $250k+ 16 $6,080,000 $380,000 $0 0.00%
    $50k or less 15 $1,045,000 $69,667 $0 0.00%
    $75k-100k 10 $1,110,000 $111,000 $0 0.00%

    Peoples Bank Of Alabama lent most frequently to those with incomes in the $100k-150k range, with 20 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% 137 $32,945,000 $240,474 $0 0.00%

    Peoples Bank Of Alabama lent most frequently to those with DTI ratios of Exempt%, with 137 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 37 $16,695,000 $451,216 $0 0.00%
    White 88 $13,950,000 $158,523 $0 0.00%
    Not provided 8 $1,560,000 $195,000 $0 0.00%
    Asian 2 $660,000 $330,000 $0 0.00%
    American Indian 1 $45,000 $45,000 $0 0.00%
    Black 1 $35,000 $35,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    84.41%

    Peoples Bank Of Alabama has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    37.96%

    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 137 $32,945,000 $240,474

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 14 $14,750,000 $1,053,571
    Single Family (1-4 Units):Manufactured 14 $1,470,000 $105,000
    Single Family (1-4 Units):Site-Built 109 $16,725,000 $153,440

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION Other type of mortgage Struggling to pay mortgage 1 5.6%
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 5.6%
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION Home equity loan or line of credit (HELOC) Trouble during payment process 2 11.1%
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 11.1%
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION Conventional home mortgage Closing on a mortgage 1 5.6%
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION Conventional home mortgage Struggling to pay mortgage 4 22.2%
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION Conventional home mortgage Trouble during payment process 6 33.3%
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION FHA mortgage Struggling to pay mortgage 1 5.6%

    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 $18,213
    Peoples Bank of Alabama 10437 Highway 36 Laceys Spring, AL 35754 Full Service B&M $17,835
    Peoples Bank of Alabama 10695 Us Hwy 278 East Holly Pond, AL 35083 Full Service B&M $24,466
    Peoples Bank of Alabama 12081 Alabama Highway 69 North Baileyton, AL 35019 Full Service B&M $9,071
    Peoples Bank of Alabama 1285 Chestnut Bypass Centre, AL 35960 Full Service B&M $61,974
    Peoples Bank of Alabama 14340 Highway 431 North Guntersville, AL 35976 Full Service B&M $10,899
    Peoples Bank of Alabama 1737 6th Avenue, Se Decatur, AL 35601 Full Service B&M $34,124
    Peoples Bank of Alabama 1800 International Parkway, Ste 190 Birmingham, AL 35243 Full Service B&M $30,364
    Peoples Bank of Alabama 1912 Cherokee Avenue, Sw Cullman, AL 35055 Full Service B&M $170,562
    Peoples Bank of Alabama 200 Billy D. Dyar Boulevard Boaz, AL 35957 Full Service B&M $14,502
    Peoples Bank of Alabama 2133 North Brindlee Mtn. Pkwy. Arab, AL 35016 Full Service B&M $54,348
    Peoples Bank of Alabama 29900 State Highway 79 Locust Fork, AL 35097 Full Service B&M $14,368
    Peoples Bank of Alabama 3105 Rainbow Drive Rainbow City, AL 35906 Full Service B&M $4,888
    Peoples Bank of Alabama 336 Fieldstown Road Gardendale, AL 35071 Full Service B&M $53,929
    Peoples Bank of Alabama 400 West Meighan Boulevard Gadsden, AL 35901 Full Service B&M $39,411
    Peoples Bank of Alabama 401 Lee Street Ne Decatur, AL 35601 Limited, Drive-thru $97,409
    Peoples Bank of Alabama 417 20th Street North Birmingham, AL 35203 Full Service B&M $2,026
    Peoples Bank of Alabama 420 Caldwell Drive Warrior, AL 35180 Limited, Mobile/Seasonal Office $30,551
    Peoples Bank of Alabama 435 Alabama Highway 69 South Dodge City, AL 35077 Full Service B&M $15,180
    Peoples Bank of Alabama 501 Highway 31, Sw Hartselle, AL 35640 Full Service B&M $39,609
    Peoples Bank of Alabama 5052 Alabama Highway 157 North Cullman, AL 35057 Full Service B&M $23,050
    Peoples Bank of Alabama 5276 Highway 67 Somerville, AL 35670 Full Service B&M $16,129
    Peoples Bank of Alabama 68870 Main Street, South Blountsville, AL 35031 Full Service B&M $15,449
    Peoples Bank of Alabama 7473 U.S. Highway 431 Albertville, AL 35950 Full Service B&M $27,118
    Peoples Bank of Alabama 910 North Brindlee Mountain Parkway Arab, AL 35016 Full Service B&M $33,293
    Peoples Bank of Alabama 918 2nd Avenue East Oneonta, AL 35121 Full Service B&M $30,064

    For 2020, Peoples Bank Of Alabama had 26 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $39,512
    Net interest income $35,391
    Total noninterest income $14,346
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $5,964
    Trading account gains and fees $0
    Additional Noninterest Income $8,382
    Pre-tax net operating income $14,689
    Securities gains (or losses, -) $317
    Income before extraordinary items $14,279
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $14,279
    Minority interest net income $0
    Net income $14,279
    Sale, conversion, retirement of capital stock, net $295
    Net operating income $13,977

    Peoples Bank Of Alabama's gross interest income from loans was $39,512,000.
    Peoples Bank Of Alabama's net interest income from loans was $35,391,000.
    Peoples Bank Of Alabama's fee based income from loans was $5,964,000.
    Peoples Bank Of Alabama's net income from loans was $14,279,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,121
    Provision for credit losses $183
    Total noninterest expense $34,865
    Salaries and employee benefits $22,146
    Premises and equipment expense $5,365
    Additional noninterest expense $7,354
    Applicable income taxes $727
    Net charge-offs $-3,285
    Cash dividends $8,623

    Peoples Bank Of Alabama's interest expense for loans was $4,121,000.
    Peoples Bank Of Alabama's payroll and benefits expense were $22,146,000.
    Peoples Bank Of Alabama's property, plant and equipment expenses $5,365,000.

    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 0.5%
    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 $961,857
    Deposits held in domestic offices $961,857
    Deposits by Individuals, partnerships, and corporations $888,390
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $73,467
    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 $318,577
    Demand deposits $318,577
    Nontransaction accounts $643,280
    Money market deposit accounts (MMDAs) $460,681
    Other savings deposits (excluding MMDAs) $95,342
    Total time deposits $87,256
    Total time and savings deposits $643,280
    Noninterest-bearing deposits $132,280
    Interest-bearing deposits $829,577
    Retail deposits $943,784
    IRAs and Keogh plan accounts $19,723
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,075,067
    Cash & Balances due from depository institutions $222,948
    Interest-bearing balances $212,921
    Total securities $97,950
    Federal funds sold & reverse repurchase $33,422
    Net loans and leases $670,511
    Loan and leases loss allowance $13,737
    Trading account assets $0
    Bank premises and fixed assets $21,712
    Other real estate owned $293
    Goodwill and other intangibles $4,717
    All other assets $23,514

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,075,067
    Total Liabilities $984,273
    Total deposits $961,857
    Interest-bearing deposits $829,577
    Deposits held in domestic offices $961,857
    % insured (estimated) $71
    Federal funds purchased and repurchase agreements $103
    Trading liabilities $0
    Other borrowed funds $18,163
    Subordinated debt $0
    All other liabilities $4,150

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $670,511
    Loan and leases loss allowance $13,737
    Total loans and leases (domestic) $684,248
    All real estate loans $470,587
    Real estate loans in domestic offices $470,587
    Construction and development loans $49,941
    Residential 1-4 family construction $18,062
    Other construction, all land development and other land $31,879
    Loans secured by nonfarm nonresidential properties $270,317
    Nonfarm nonresidential secured by owner-occupied properties $130,588
    Commercial real estate & other non-farm, non-residential $139,729
    Multifamily residential real estate $23,706
    1-4 family residential loans $102,621
    Farmland loans $24,002
    Loans held in foreign offices $0
    Farm loans $4,217
    Commercial and industrial loans $169,861
    To non-U.S. addressees $0
    Loans to individuals $18,729
    Credit card loans $3,665
    Related Plans $1,577
    Consumer Auto Loans $3,227
    Other loans to individuals $10,260
    All other loans & leases $20,872
    Loans to foreign governments and official institutions $0
    Other loans $14,071
    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 $8,029
    Non 1-4 family restructured loans & leases $7,224
    Total loans and leases (foreign) $0

    Peoples Bank of Alabama had $670,511,000 of loans outstanding in 2020. $470,587,000 of loans were in real estate loans. $49,941,000 of loans were in development loans. $23,706,000 of loans were in multifamily mortgage loans. $102,621,000 of loans were in 1-4 family mortgage loans. $4,217,000 of loans were in farm loans. $3,665,000 of loans were in credit card loans. $3,227,000 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 317 $73,894 $233,104
    Nonfarm, nonresidential loans - <$100k 62 $3,110 $50,161
    Nonfarm, nonresidential loans - $100-250k 118 $15,861 $134,415
    Nonfarm, nonresidential loans - $250k-1MM 137 $54,923 $400,898
    Commercial & Industrial, US addressed loans - <$1MM 1,167 $76,741 $65,759
    Commercial & Industrial, US addressed loans - <$100k 864 $21,546 $24,938
    Commercial & Industrial, US addressed loans - $100-250k 176 $19,557 $111,119
    Commercial & Industrial, US addressed loans - $250k-1MM 127 $35,638 $280,614
    Farmland loans - <$1MM 68 $8,752 $128,706
    Farmland loans - <$100k 25 $817 $32,680
    Farmland loans - $100-250k 22 $2,439 $110,864
    Farmland loans - $250k-1MM 21 $5,496 $261,714
    Agriculture operations loans - <$1MM 46 $2,222 $48,304
    Agriculture operations loans - <$100k 32 $819 $25,594
    Agriculture operations loans - $100-250k 10 $664 $66,400
    Agriculture operations loans - $250k-1MM 4 $739 $184,750