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

Medford, OR

LEI: 549300HVPIN7YD1REF28

Tax ID: 91-1840442

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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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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

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%

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

Their top states include:

Oregon (FHA|USDA|VA)

California (FHA|USDA|VA)

Arizona (FHA|USDA|VA)

Texas (FHA|USDA|VA)

Washington (FHA|USDA|VA)

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.

North American Savings Bank, F.S.B.
Similarity Rank: 1170

People's Bank of Commerce
Similarity Rank: 1406

FIRST COMMUNITY
Similarity Rank: 2047

PROVIDENT FUNDING ASSOCIATES, L.P.
Similarity Rank: 2090

NORTHWEST COMMUNITY
Similarity Rank: 2992

ROGUE
Similarity Rank: 3498

Low VA Rates, LLC
Similarity Rank: 4396

NBKC BANK
Similarity Rank: 4704

First Interstate Bank
Similarity Rank: 5565

VILLAGE CAPITAL MORTGAGE
Similarity Rank: 7524

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

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. 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 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

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 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

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$1k-2k	180	$46,990,000	$261,056
$2k-3k	44	$12,120,000	$275,455
$3k-4k	27	$8,125,000	$300,926
$<1k	22	$6,420,000	$291,818
$5k+	13	$5,715,000	$439,615
$4k-5k	11	$3,445,000	$313,182

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

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
95.15%

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 origination
78.26%

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

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