Peoples Bank Mortgage Rates, Fees & Info
Sheridan, ARLEI: 5493009I5VHHGVFQ1O54
Tax ID: 71-0843443
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Mortgage 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: Little Rock, Hot Springs, Pine Bluff, and Malvern 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 above 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
27Origination Dollar Volume (All Markets)
$1,915,000Top 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 |
|---|---|---|---|---|---|
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 21 | $1,305,000 | $62,143 | $0 | 0.00% |
| HOT SPRINGS, AR (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| PINE BLUFF, AR (FHA|USDA|VA) | 3 | $155,000 | $51,667 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $135,000 | $135,000 | $0 | 0.00% |
| Malvern, AR (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 27 | $1,915,000 | $70,926 | $0 | 0.00% |
For 2019, Peoples Bank's most frequently originated type of loan was Conventional, with 27 originations.
Loan Reason
For 2019, Peoples Bank's most frequently cited loan purpose was Home Purchase, with 17 originations. The 2nd most popular reason was Refi, with 7 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 27 | $1,915,000 | $70,926 | $0 | 0.00% |
For 2019, Peoples Bank's most frequently cited loan duration was Other, with 27 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 20 | $910,000 | $45,500 | $0 | 0.00% |
| $100k-200k | 6 | $750,000 | $125,000 | $0 | 0.00% |
| $200k-400k | 1 | $255,000 | $255,000 | $0 | 0.00% |
2019 saw Peoples Bank place emphasis on $100,000 or less loans with 20 originations, totaling $910,000 in origination value.
Applicant Income
Peoples Bank lent most frequently to those with incomes in the $100k-150k range, with 7 originations. The second most popular income band? $50k-75k, with 7 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 27 | $1,915,000 | $70,926 | $0 | 0.00% |
Peoples Bank lent most frequently to those with DTI ratios of Exempt%, with 27 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 23 | $1,385,000 | $60,217 | $0 | 0.00% |
| Not applicable | 4 | $530,000 | $132,500 | $0 | 0.00% |
Approval Rates
Total approvals of all applications97.06%
Peoples Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination77.78%
Peoples Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 27 | $1,915,000 | $70,926 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 11 | $625,000 | $56,818 |
| Single Family (1-4 Units):Site-Built | 16 | $1,290,000 | $80,625 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 80-100% | 1 | $5,000 | $5,000 | $0 | 0.00% |
| Over 100% | 26 | $1,910,000 | $73,462 | $0 | 0.00% |
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% |