People's Bank Of Commerce Mortgage Rates, Fees & Info

Medford, OR

LEI: 549300HVPIN7YD1REF28

Tax ID: 91-1840442

5 stars - out of 5 stars, based on 19 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

People's Bank Of Commerce is a smaller bank specializing in Home Purchase, Cash Out Refi, and Refi loans. People's Bank Of Commerce has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets include Medford, Grants Pass, Klamath Falls, Salem, and Portland among others. People's Bank Of Commerce has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. People's Bank Of Commerce is typically an average fee lendor.


Originations

345

Origination Dollar Volume (All Markets)

$112,995,000

Employee count

140

Awards

People's Bank of Commerce FHA Loans silver People's Bank of Commerce VA Loans silver
Show all (2) awards

Relative Rate

People's Bank Of Commerce's average 30 year fixed rate mortgage of loans were 3.01%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.14%.

Relative Fees

People's Bank Of Commerce's average total fees for a 30 year fixed rate mortgage are $5,133.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
MEDFORD, OR (FHA|USDA|VA) 235 $70,255,000 $298,957 $5,063 3.00%
GRANTS PASS, OR (FHA|USDA|VA) 53 $20,475,000 $386,321 $4,777 3.14%
Klamath Falls, OR (FHA|USDA|VA) 20 $12,320,000 $616,000 $5,572 3.68%
SALEM, OR (FHA|USDA|VA) 8 $2,040,000 $255,000 $4,497 3.08%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 6 $1,470,000 $245,000 $3,626 2.63%
ALBANY-LEBANON, OR (FHA|USDA|VA) 3 $955,000 $318,333 $5,111 4.16%
Brookings, OR (FHA|USDA|VA) 2 $830,000 $415,000 $0 3.50%
EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 2 $790,000 $395,000 $4,778 3.50%
BEND, OR (FHA|USDA|VA) 2 $690,000 $345,000 $7,440 3.44%
Roseburg, OR (FHA|USDA|VA) 2 $680,000 $340,000 $2,670 3.69%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $545,000 $545,000 $4,669 3.38%
Outside of Metro Areas 4 $410,000 $102,500 $6,901 3.83%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $405,000 $405,000 $3,709 2.25%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 1 $285,000 $285,000 $4,218 2.88%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 1 $285,000 $285,000 $3,044 2.75%
Newport, OR (FHA|USDA|VA) 1 $165,000 $165,000 $4,708 3.88%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 1 $155,000 $155,000 $2,566 2.25%
Outside of Metro Areas 1 $125,000 $125,000 $2,879 2.63%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $115,000 $115,000 $2,729 2.50%

People's Bank Of Commerce's top markets include Medford, Grants Pass, Klamath Falls, Salem, and Portland among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 315 $104,705,000 $332,397 $4,695 3.13%
VA 17 $4,725,000 $277,941 $6,254 2.48%
FHA 13 $3,565,000 $274,231 $8,851 2.74%

For the 2021 period, People's Bank Of Commerce's most frequently originated loan type of loans were Conventional, with 315 originations. Their 2nd most popular type is VA, with 17 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 117 $46,445,000 $396,966 $5,899 3.24%
Cash Out Refi 111 $32,795,000 $295,450 $4,870 3.09%
Refi 109 $31,025,000 $284,633 $4,152 2.86%
Home Improvement 5 $1,055,000 $211,000 $4,382 3.30%
Other 3 $1,675,000 $558,333 $0 4.61%

For the 2021, People's Bank Of Commerce's most frequently cited loan purpose of loans were Home Purchase, with 117 originations. The 2nd most popular reason of loans were Cash Out Refi, with 111 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 233 $68,285,000 $293,069 $5,133 3.01%
15 Year 55 $12,835,000 $233,364 $4,498 2.58%
Other 34 $20,490,000 $602,647 $3,366 4.14%
20 Year 16 $3,490,000 $218,125 $4,421 3.20%
10 Year 5 $7,295,000 $1,459,000 $2,324 3.90%
3 Year 1 $555,000 $555,000 $0 3.50%
5 Year 1 $45,000 $45,000 $0 4.95%

For the 2021, People's Bank Of Commerce's most frequently cited loan length of loans were 30 Year, with 233 originations. The 2nd most popular length of loans were 15 Year, with 55 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 180 $46,990,000 $261,056
$2k-3k 44 $12,120,000 $275,455
$3k-4k 38 $11,570,000 $304,474
$<1k 22 $6,420,000 $291,818
$5k+ 13 $5,715,000 $439,615

$5,133 of loans were People's Bank Of Commerce's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 180 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 138 $39,060,000 $283,043
3-4% 100 $41,110,000 $411,100
<2.5% 69 $17,705,000 $256,594
4-5% 37 $14,795,000 $399,865
6-7% 1 $325,000 $325,000

During 2021, People's Bank Of Commerce's average interest rate of loans were 3.01%, while their most frequently originated rate bucket of loans were 2.5-3%, with 138 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 175 $50,405,000 $288,029 $5,273 3.00%
$100k-200k 89 $13,815,000 $155,225 $3,799 2.94%
$400k-600k 47 $22,605,000 $480,957 $5,728 3.14%
$100,000 or less 16 $1,070,000 $66,875 $3,720 3.83%
$1MM+ 9 $18,625,000 $2,069,444 $0 3.90%
$600k-1MM 9 $6,475,000 $719,444 $11,197 3.72%

2021 saw People's Bank Of Commerce place emphasis on $200k-400k loans with 175 originations, totaling $50,405,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$75k-100k 76 $19,130,000 $251,711 $4,904 2.94%
$50k-75k 72 $17,170,000 $238,472 $5,131 2.92%
$100k-150k 62 $19,680,000 $317,419 $5,028 2.96%
$150k-250k 41 $15,455,000 $376,951 $5,417 3.00%
$50k or less 37 $6,055,000 $163,649 $4,045 3.15%
$250k+ 22 $6,370,000 $289,545 $5,492 3.24%

People's Bank Of Commerce lent most frequently to those with incomes in the $75k-100k range, with 76 originations. The second most popular income band? $50k-75k, with 72 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 76 $19,500,000 $256,579 $4,775 2.80%
30-36% 50 $13,570,000 $271,400 $4,578 2.92%
<20% 27 $5,985,000 $221,667 $3,926 2.95%
41% 27 $7,155,000 $265,000 $4,727 2.99%
44% 20 $4,980,000 $249,000 $5,177 3.06%
37% 12 $3,970,000 $330,833 $7,048 2.82%
42% 11 $2,445,000 $222,273 $5,086 3.09%
36% 11 $3,675,000 $334,091 $6,040 3.02%
39% 11 $3,735,000 $339,545 $4,483 3.09%
43% 11 $4,135,000 $375,909 $5,481 3.11%
45% 10 $2,740,000 $274,000 $5,996 3.11%
38% 9 $2,565,000 $285,000 $5,241 3.10%
40% 8 $2,670,000 $333,750 $4,883 3.18%
46% 7 $2,205,000 $315,000 $7,673 2.73%
48% 6 $2,020,000 $336,667 $4,057 3.10%
47% 3 $1,005,000 $335,000 $5,395 2.83%
49% 1 $165,000 $165,000 $4,708 3.88%
50-60% 1 $345,000 $345,000 $7,661 3.69%

People's Bank Of Commerce lent most frequently to those with DTI ratios of 20-30%, with 76 originations. The next most common DTI ratio? 30-36%, with 50 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 284 $81,460,000 $286,831 $4,949 3.02%
Not applicable 21 $20,285,000 $965,952 $3,722 4.00%
Not provided 30 $8,280,000 $276,000 $5,090 3.01%
Asian 5 $1,465,000 $293,000 $5,665 3.22%
Black 2 $780,000 $390,000 $5,525 3.19%
American Indian 2 $540,000 $270,000 $4,511 3.00%
Vietnamese 1 $185,000 $185,000 $4,444 3.38%

Approval Rates

Total approvals of all applications
93.33%

People's Bank Of Commerce has an average approval rate.

Pick Rate

Approvals leading to origination
73.97%

People's Bank Of Commerce has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
0.0 1 $45,000 $45,000
117.0 1 $55,000 $55,000
135.0 1 $55,000 $55,000
25.0 1 $65,000 $65,000
70.0 1 $25,000 $25,000
NA 340 $112,750,000 $331,618

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
345 $112,995,000 $327,522

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 51 $9,455,000 $185,392 $4,432 2.93%
40-60% 104 $29,700,000 $285,577 $4,488 2.94%
60-80% 115 $49,745,000 $432,565 $5,246 3.27%
80-100% 56 $18,690,000 $333,750 $5,358 3.12%
Over 100% 4 $1,210,000 $302,500 $11,392 2.56%
Under 20% 6 $620,000 $103,333 $3,314 3.20%

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)
People's Bank of Commerce 1017 E Pine Street Central Point, OR 97502 Full Service B&M $49,359
People's Bank of Commerce 1311 Barnett Rd. Suite 101 Medford, OR 97504 Full Service B&M $111,427
People's Bank of Commerce 1495 S. Main Lebanon, OR 97355 Full Service B&M $26,639
People's Bank of Commerce 1500 Siskiyou Boulevard Ashland, OR 97520 Full Service B&M $81,430
People's Bank of Commerce 1528 Biddle Rd Medford, OR 97504 Full Service B&M $222,672
People's Bank of Commerce 210 Timbermill Dr Klamath Falls, OR 97601 Full Service B&M $10,890
People's Bank of Commerce 315 Commercial Street Se, Suite 110 Salem, OR 97301 Full Service B&M $59,814
People's Bank of Commerce 333 Lyon Street, S.E. Albany, OR 97321 Full Service B&M $86,285
People's Bank of Commerce 509 Se 7th Street Grants Pass, OR 97526 Full Service B&M $64,463

For 2021, People's Bank Of Commerce had 9 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $32,060
Net interest income $31,123
Total noninterest income $8,312
Gross Fiduciary activities income $0
Service charges on deposit accounts $409
Trading account gains and fees $0
Additional Noninterest Income $7,903
Pre-tax net operating income $14,557
Securities gains (or losses, -) $0
Income before extraordinary items $11,473
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $11,473
Minority interest net income $0
Net income $11,473
Sale, conversion, retirement of capital stock, net $437
Net operating income $11,473

People's Bank Of Commerce's gross interest income from loans was $32,060,000.
People's Bank Of Commerce's net interest income from loans was $31,123,000.
People's Bank Of Commerce's fee based income from loans was $409,000.
People's Bank Of Commerce's net income from loans was $11,473,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $937
Provision for credit losses $111
Total noninterest expense $24,767
Salaries and employee benefits $13,565
Premises and equipment expense $3,542
Additional noninterest expense $7,660
Applicable income taxes $3,084
Net charge-offs $188
Cash dividends $0

People's Bank Of Commerce's interest expense for loans was $937,000.
People's Bank Of Commerce's payroll and benefits expense were $13,565,000.
People's Bank Of Commerce's property, plant and equipment expenses $3,542,000.

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 6.0%
All other family 0.0%
Commercial & industrial loans 0.0%
Personal loans 0.0%
Credit card loans 0.0%
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 $764,229
Deposits held in domestic offices $764,229
Deposits by Individuals, partnerships, and corporations $755,409
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $8,819
Deposits by Commercial banks and other depository institutions in U.S. $1
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $99,629
Demand deposits $62,678
Nontransaction accounts $664,600
Money market deposit accounts (MMDAs) $209,797
Other savings deposits (excluding MMDAs) $430,414
Total time deposits $24,388
Total time and savings deposits $701,551
Noninterest-bearing deposits $350,424
Interest-bearing deposits $413,805
Retail deposits $755,983
IRAs and Keogh plan accounts $0
Brokered deposits $4,998
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $859,744
Cash & Balances due from depository institutions $82,837
Interest-bearing balances $74,021
Total securities $241,564
Federal funds sold & reverse repurchase $0
Net loans and leases $481,456
Loan and leases loss allowance $4,376
Trading account assets $0
Bank premises and fixed assets $27,304
Other real estate owned $542
Goodwill and other intangibles $3,854
All other assets $22,187

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $859,744
Total Liabilities $780,678
Total deposits $764,229
Interest-bearing deposits $413,805
Deposits held in domestic offices $764,229
% insured (estimated) $61
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $3,000
Subordinated debt $0
All other liabilities $13,449

Issued Loan Types

Type Value (in 000's)
Net loans and leases $481,456
Loan and leases loss allowance $4,376
Total loans and leases (domestic) $485,832
All real estate loans $390,376
Real estate loans in domestic offices $390,376
Construction and development loans $41,749
Residential 1-4 family construction $8,160
Other construction, all land development and other land $33,589
Loans secured by nonfarm nonresidential properties $252,314
Nonfarm nonresidential secured by owner-occupied properties $135,435
Commercial real estate & other non-farm, non-residential $116,879
Multifamily residential real estate $40,696
1-4 family residential loans $36,279
Farmland loans $19,338
Loans held in foreign offices $0
Farm loans $6,791
Commercial and industrial loans $85,072
To non-U.S. addressees $0
Loans to individuals $2,150
Credit card loans $0
Related Plans $1,121
Consumer Auto Loans $334
Other loans to individuals $695
All other loans & leases $3,054
Loans to foreign governments and official institutions $0
Other loans $3,054
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

People's Bank of Commerce had $481,456,000 of loans outstanding in 2021. $390,376,000 of loans were in real estate loans. $41,749,000 of loans were in development loans. $40,696,000 of loans were in multifamily mortgage loans. $36,279,000 of loans were in 1-4 family mortgage loans. $6,791,000 of loans were in farm loans. $0 of loans were in credit card loans. $334,000 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 304 $93,776 $308,474
Nonfarm, nonresidential loans - <$100k 19 $999 $52,579
Nonfarm, nonresidential loans - $100-250k 92 $13,434 $146,022
Nonfarm, nonresidential loans - $250k-1MM 193 $79,343 $411,104
Commercial & Industrial, US addressed loans - <$1MM 776 $47,573 $61,305
Commercial & Industrial, US addressed loans - <$100k 575 $14,634 $25,450
Commercial & Industrial, US addressed loans - $100-250k 114 $11,927 $104,623
Commercial & Industrial, US addressed loans - $250k-1MM 87 $21,012 $241,517
Farmland loans - <$1MM 19 $3,159 $166,263
Farmland loans - <$100k 5 $147 $29,400
Farmland loans - $100-250k 6 $833 $138,833
Farmland loans - $250k-1MM 8 $2,179 $272,375
Agriculture operations loans - <$1MM 39 $3,644 $93,436
Agriculture operations loans - <$100k 21 $519 $24,714
Agriculture operations loans - $100-250k 6 $324 $54,000
Agriculture operations loans - $250k-1MM 12 $2,801 $233,417