People's Bank Of Commerce Mortgage Rates, Fees & Info
Medford, ORLEI: 549300HVPIN7YD1REF28
Tax ID: 91-1840442
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Review & 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 by origination volume include: Medford, Grants Pass, Klamath Falls, Salem, and Portland among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)People's Bank Of Commerce 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. People's Bank Of Commerce is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.56% | 3/19/23 |
| 30 Year Conventional Refi | 6.33% | 3/19/23 |
| 30 Year Cash-out Refi | 6.63% | 3/19/23 |
| 30 Year FHA Purchase | 7.05% | 3/19/23 |
| 30 Year FHA Refi | 6.29% | 3/19/23 |
| 30 Year VA Purchase | 6.15% | 3/19/23 |
| 30 Year VA Refi | 5.87% | 3/19/23 |
| 15 Year Conventional Purchase | 6.25% | 3/19/23 |
| 15 Year Conventional Refi | 5.86% | 3/19/23 |
| 15 Year Cash-out Refi | 5.86% | 3/19/23 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Originations
345Origination Dollar Volume (All Markets)
$112,995,000Employee count
140Awards
People's Bank of Commerce - 2021
People's Bank of Commerce is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
People's Bank Of Commerce's average 30 year fixed mortgage rate was
3.01%.
The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.
This yields a difference of -0.14%.
Relative Fees (Closing Costs)
People's Bank Of Commerce's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,133.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $4,750.
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 |
|---|---|---|---|---|---|
| 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% |
Similar Lenders
We use machine learning to identify the top lenders compared against People's Bank of Commerce based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. 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 2021, People's Bank Of Commerce's most frequently originated type of loan was Conventional, with 315 originations. Their 2nd most popular type was VA, with 17 originations.
Loan Reason
For 2021, People's Bank Of Commerce's most frequently cited loan purpose was Home Purchase, with 117 originations. The 2nd most popular reason was Cash Out Refi, with 111 originations.
Loan Duration/Length
For 2021, People's Bank Of Commerce's most frequently cited loan duration was 30 Year, with 233 originations. The 2nd most popular length was 15 Year, with 55 originations.
Origination Fees/Closing Costs
People's Bank Of Commerce's average total fees were $5,133, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.01%, while their most frequently originated rate bucket for loans was 2.5-3%, with 138 originations.
Loan Sizing
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
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
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
Approval Rates
Total approvals of all applications95.15%
People's Bank Of Commerce has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination78.26%
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 |
LTV Distribution
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 |