Peoples Bank Midwest Mortgage Rates, Fees & Info

Hayward, WI

LEI: 549300PE842EEE8LUJ85

Tax ID: 39-0532490

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

Review & Overview

Peoples Bank Midwest is a smaller bank specializing in Home Purchase and Refi loans. Peoples Bank Midwest has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, Eau Claire, Riverside, Menomonie, and Duluth among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

Peoples Bank Midwest 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

123

Origination Dollar Volume (All Markets)

$37,555,000

Employee count

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
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA\|USDA\|VA)	22	$12,550,000	$570,455	$0	0.00%
EAU CLAIRE, WI (FHA\|USDA\|VA)	38	$12,430,000	$327,105	$0	0.00%
Outside of Metro Areas	60	$11,630,000	$193,833	$0	0.00%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA\|USDA\|VA)	1	$655,000	$655,000	$0	0.00%
Menomonie, WI (FHA\|USDA\|VA)	1	$265,000	$265,000	$0	0.00%
DULUTH, MN-WI (FHA\|USDA\|VA)	1	$25,000	$25,000	$0	0.00%

Peoples Bank Midwest's top markets include Minneapolis, Eau Claire, Riverside, Menomonie, and Duluth among others.

Their top states include:

Wisconsin (FHA|USDA|VA)

Minnesota (FHA|USDA|VA)

California (FHA|USDA|VA)

Similar Lenders

We use machine learning to identify the top lenders compared against Peoples Bank Midwest based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

Prevail Bank
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CO-OP Credit Union
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MEMBERS COOPERATIVE
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SHAREPOINT CREDIT UNION
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South Metro Federal Credit Union
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First National Bank of Elk River
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WESTconsin Credit Union
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Liberty Bank Minnesota
Similarity Rank: 1080

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	123	$37,555,000	$305,325	$0	0.00%

For 2018, Peoples Bank Midwest's most frequently originated type of loan was Conventional, with 123 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	95	$25,035,000	$263,526	$0	0.00%
Cash Out Refi	16	$3,960,000	$247,500	$0	0.00%
Refi	9	$7,855,000	$872,778	$0	0.00%
Other	2	$300,000	$150,000	$0	0.00%
Home Improvement	1	$405,000	$405,000	$0	0.00%

For 2018, Peoples Bank Midwest's most frequently cited loan purpose was Home Purchase, with 95 originations. The 2nd most popular reason was Cash Out Refi, with 16 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	123	$37,555,000	$305,325	$0	0.00%

For 2018, Peoples Bank Midwest's most frequently cited loan duration was Other, with 123 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	42	$11,240,000	$267,619	$0	0.00%
$100k-200k	39	$5,895,000	$151,154	$0	0.00%
$100,000 or less	18	$1,220,000	$67,778	$0	0.00%
$400k-600k	15	$6,735,000	$449,000	$0	0.00%
$600k-1MM	6	$4,150,000	$691,667	$0	0.00%
$1MM+	3	$8,315,000	$2,771,667	$0	0.00%

2018 saw Peoples Bank Midwest place emphasis on $200k-400k loans with 42 originations, totaling $11,240,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$250k+	26	$9,580,000	$368,462	$0	0.00%
$50k-75k	18	$3,010,000	$167,222	$0	0.00%
$150k-250k	16	$4,530,000	$283,125	$0	0.00%
$100k-150k	14	$3,430,000	$245,000	$0	0.00%
$75k-100k	13	$2,335,000	$179,615	$0	0.00%
$50k or less	9	$975,000	$108,333	$0	0.00%

Peoples Bank Midwest lent most frequently to those with incomes in the $250k+ range, with 26 originations. The second most popular income band? $50k-75k, with 18 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	123	$37,555,000	$305,325	$0	0.00%

Peoples Bank Midwest lent most frequently to those with DTI ratios of Exempt%, with 123 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	93	$22,985,000	$247,151	$0	0.00%
Not applicable	23	$13,175,000	$572,826	$0	0.00%
Not provided	4	$1,010,000	$252,500	$0	0.00%
Asian	2	$230,000	$115,000	$0	0.00%
American Indian	1	$155,000	$155,000	$0	0.00%

Approval Rates

Total approvals of all applications
94.84%

Peoples Bank Midwest has an average approval rate.

Pick Rate

Approvals leading to origination
82.11%

Peoples Bank Midwest has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	123	$37,555,000	$305,325

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Manufactured	2	$290,000	$145,000
Multifamily:Site-Built	12	$11,040,000	$920,000
Single Family (1-4 Units):Manufactured	1	$25,000	$25,000
Single Family (1-4 Units):Site-Built	108	$26,200,000	$242,593

Complaints

Bank Name	Product	Issue	2018 CPFB Complaints	% of Total Issues
PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION	Conventional home mortgage	Closing on a mortgage	2	40.0%
PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION	Conventional home mortgage	Trouble during payment process	2	40.0%
PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION	Other type of mortgage	Closing on a mortgage	1	20.0%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Peoples Bank Midwest	10583 Main Street Hayward, WI 54843	Full Service B&M	$132,884
Peoples Bank Midwest	3585 Us Highway 61 North Vadnais Heights, MN 55110	Full Service B&M	$45,037
Peoples Bank Midwest	4251 Southtowne Drive Eau Claire, WI 54701	Full Service B&M	$98,501

For 2018, Peoples Bank Midwest had 3 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$14,999
Net interest income	$13,718
Total noninterest income	$1,772
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$365
Trading account gains and fees	$0
Additional Noninterest Income	$1,407
Pre-tax net operating income	$7,766
Securities gains (or losses, -)	$0
Income before extraordinary items	$7,753
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$7,753
Minority interest net income	$0
Net income	$7,753
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$7,753

Peoples Bank Midwest's gross interest income from loans was $14,999,000.
Peoples Bank Midwest's net interest income from loans was $13,718,000.
Peoples Bank Midwest's fee based income from loans was $365,000.
Peoples Bank Midwest's net income from loans was $7,753,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$1,281
Provision for credit losses	$360
Total noninterest expense	$7,364
Salaries and employee benefits	$4,791
Premises and equipment expense	$460
Additional noninterest expense	$2,113
Applicable income taxes	$13
Net charge-offs	$-69
Cash dividends	$2,300

Peoples Bank Midwest's interest expense for loans was $1,281,000.
Peoples Bank Midwest's payroll and benefits expense were $4,791,000.
Peoples Bank Midwest's property, plant and equipment expenses $460,000.

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	0.0%
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	$295,992
Deposits held in domestic offices	$295,992
Deposits by Individuals, partnerships, and corporations	$280,756
Deposits by U.S. Government	$6
Deposits by States and political subdivisions in the U.S.	$15,231
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	$145,330
Demand deposits	$85,945
Nontransaction accounts	$150,663
Money market deposit accounts (MMDAs)	$80,168
Other savings deposits (excluding MMDAs)	$18,026
Total time deposits	$52,471
Total time and savings deposits	$210,048
Noninterest-bearing deposits	$85,944
Interest-bearing deposits	$210,048
Retail deposits	$267,112
IRAs and Keogh plan accounts	$9,592
Brokered deposits	$4,940
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$373,698
Cash & Balances due from depository institutions	$12,912
Interest-bearing balances	$5,748
Total securities	$48,436
Federal funds sold & reverse repurchase	$3,399
Net loans and leases	$290,388
Loan and leases loss allowance	$3,222
Trading account assets	$0
Bank premises and fixed assets	$3,885
Other real estate owned	$1,340
Goodwill and other intangibles	$0
All other assets	$13,338

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$373,698
Total Liabilities	$298,895
Total deposits	$295,992
Interest-bearing deposits	$210,048
Deposits held in domestic offices	$295,992
% insured (estimated)	$66
Federal funds purchased and repurchase agreements	$1,477
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$1,426

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$290,388
Loan and leases loss allowance	$3,222
Total loans and leases (domestic)	$293,610
All real estate loans	$243,431
Real estate loans in domestic offices	$243,431
Construction and development loans	$41,739
Residential 1-4 family construction	$8,522
Other construction, all land development and other land	$33,217
Loans secured by nonfarm nonresidential properties	$121,707
Nonfarm nonresidential secured by owner-occupied properties	$62,518
Commercial real estate & other non-farm, non-residential	$59,189
Multifamily residential real estate	$26,967
1-4 family residential loans	$52,914
Farmland loans	$104
Loans held in foreign offices	$0
Farm loans	$12
Commercial and industrial loans	$39,148
To non-U.S. addressees	$0
Loans to individuals	$989
Credit card loans	$0
Related Plans	$280
Consumer Auto Loans	$221
Other loans to individuals	$488
All other loans & leases	$10,029
Loans to foreign governments and official institutions	$0
Other loans	$8
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	$174
Non 1-4 family restructured loans & leases	$0
Total loans and leases (foreign)	$0

Peoples Bank Midwest had $290,388,000 of loans outstanding in 2018. $243,431,000 of loans were in real estate loans. $41,739,000 of loans were in development loans. $26,967,000 of loans were in multifamily mortgage loans. $52,914,000 of loans were in 1-4 family mortgage loans. $12,000 of loans were in farm loans. $0 of loans were in credit card loans. $221,000 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	186	$39,388	$211,763
Nonfarm, nonresidential loans - <$100k	38	$1,619	$42,605
Nonfarm, nonresidential loans - $100-250k	72	$10,116	$140,500
Nonfarm, nonresidential loans - $250k-1MM	76	$27,653	$363,855
Commercial & Industrial, US addressed loans - <$1MM	258	$20,483	$79,391
Commercial & Industrial, US addressed loans - <$100k	153	$3,480	$22,745
Commercial & Industrial, US addressed loans - $100-250k	48	$3,710	$77,292
Commercial & Industrial, US addressed loans - $250k-1MM	57	$13,293	$233,211
Agriculture operations loans - <$1MM	1	$12	$12,000
Agriculture operations loans - <$100k	1	$12	$12,000