Peoples Exchange Bank Mortgage Rates, Fees & Info
Winchester, KY
LEI: 549300Q3RKNDNMSDEE10
Tax ID: 61-0305975
5 stars
-
out of 5 stars, based on 25 reviews
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Mortgage Data
Bank Data
Overview
Peoples Exchange Bank is a
smaller
bank
specializing in
Home Purchase and Refi loans.
Peoples Exchange Bank 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 Lexington, Frankfort, Mount Sterling, Richmond, and Cincinnati among others. Peoples Exchange Bank has
an average
approval rate for mortages when compared nationally.
They have
a below average
pick rate when compared to the same sample of other lendors.
Peoples Exchange Bank is typically
a low fee
lendor.
Originations
631
Origination Dollar Volume (All Markets)
$132,125,000
Employee count
83
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Peoples Exchange Bank - 2021
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For 2021, less than of lenders were eligible for this award.
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Relative Rate
Peoples Exchange Bank's average 30 year fixed rate mortgage of loans were
2.77%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.38%.
Relative Fees
Peoples Exchange Bank's average total fees for a 30 year fixed rate
mortgage are $3,084.
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 |
|
LEXINGTON-FAYETTE, KY (FHA|USDA|VA)
|
460
|
$100,980,000 |
$219,522 |
$2,816 |
3.12% |
|
Frankfort, KY (FHA|USDA|VA)
|
32
|
$7,830,000 |
$244,688 |
$3,555 |
3.51% |
|
Outside of Metro Areas
|
45 |
$7,745,000 |
$172,111 |
$2,837 |
3.10% |
|
Mount Sterling, KY (FHA|USDA|VA)
|
49
|
$6,845,000 |
$139,694 |
$2,480 |
3.03% |
|
Richmond-Berea, KY (FHA|USDA|VA)
|
23
|
$4,715,000 |
$205,000 |
$4,292 |
3.10% |
|
CINCINNATI, OH-KY-IN (FHA|USDA|VA)
|
12
|
$1,770,000 |
$147,500 |
$3,366 |
3.54% |
|
Danville, KY (FHA|USDA|VA)
|
2
|
$850,000 |
$425,000 |
$1,467 |
3.75% |
|
LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA)
|
3
|
$695,000 |
$231,667 |
$2,960 |
3.21% |
|
Somerset, KY (FHA|USDA|VA)
|
1
|
$225,000 |
$225,000 |
$6,084 |
2.88% |
|
ST. LOUIS, MO-IL (FHA|USDA|VA)
|
1
|
$185,000 |
$185,000 |
$0 |
3.75% |
|
HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA)
|
2
|
$180,000 |
$90,000 |
$2,231 |
2.63% |
|
Bardstown, KY (FHA|USDA|VA)
|
1
|
$105,000 |
$105,000 |
$0 |
4.00% |
Peoples Exchange Bank's top markets include Lexington, Frankfort, Mount Sterling, Richmond, and Cincinnati among others.
Product Mix
| Loan Type |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Conventional |
549 |
$116,815,000 |
$212,778 |
$2,410 |
3.25% |
| USDA |
43 |
$7,825,000 |
$181,977 |
$3,869 |
2.38% |
| FHA |
32 |
$5,970,000 |
$186,563 |
$5,350 |
2.47% |
| VA |
7 |
$1,515,000 |
$216,429 |
$6,759 |
2.32% |
For the 2021 period, Peoples Exchange Bank's most frequently
originated loan type
of loans were Conventional, with 549 originations.
Their 2nd most popular type is USDA,
with 43 originations.
Loan Reason
| Loan Reason |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Home Purchase |
300 |
$63,280,000 |
$210,933 |
$3,440 |
3.09% |
| Refi |
238 |
$50,760,000 |
$213,277 |
$2,235 |
3.33% |
| Cash Out Refi |
87 |
$17,455,000 |
$200,632 |
$2,502 |
2.70% |
| Home Improvement |
6 |
$630,000 |
$105,000 |
$0 |
4.29% |
For the 2021, Peoples Exchange Bank's most frequently cited loan
purpose
of loans were Home Purchase, with 300
originations.
The 2nd most popular reason of loans were Refi,
with 238 originations.
Loan Duration/Length
| Loan Length |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| 30 Year |
303 |
$64,825,000 |
$213,944 |
$3,084 |
2.77% |
| Other |
156 |
$34,630,000 |
$221,987 |
$2,214 |
3.93% |
| 20 Year |
78 |
$15,400,000 |
$197,436 |
$2,275 |
3.50% |
| 15 Year |
73 |
$12,185,000 |
$166,918 |
$2,288 |
2.47% |
| 1 Year |
13 |
$3,625,000 |
$278,846 |
$0 |
4.38% |
| 10 Year |
6 |
$1,210,000 |
$201,667 |
$2,391 |
2.04% |
| 3 Year |
1 |
$125,000 |
$125,000 |
$0 |
4.25% |
| 5 Year |
1 |
$125,000 |
$125,000 |
$0 |
4.00% |
For the 2021, Peoples Exchange Bank's most frequently cited loan
length
of loans were 30 Year, with 303 originations.
The 2nd most popular length of loans were Other,
with 156 originations.
Origination Fees
| Origination Fee |
Originations |
Total Value |
Average Loan |
| $<1k |
402 |
$82,730,000 |
$205,796 |
| $1k-2k |
6 |
$1,140,000 |
$190,000 |
| $2k-3k |
2 |
$490,000 |
$245,000 |
$3,084 of loans were Peoples Exchange Bank's
average total fees, while their most
frequently occuring range of origination fees were in the
$<1k bucket,
with 402 originations.
Interest Rates
| Loan Rate |
Originations |
Total Value |
Average Loan |
| 3-4% |
247 |
$53,625,000 |
$217,105 |
| <2.5% |
193 |
$38,225,000 |
$198,057 |
| 2.5-3% |
141 |
$31,225,000 |
$221,454 |
| 4-5% |
47 |
$8,885,000 |
$189,043 |
| 5-6% |
1 |
$85,000 |
$85,000 |
| 6-7% |
1 |
$15,000 |
$15,000 |
During 2021, Peoples Exchange Bank's average interest
rate of loans were 2.77%, while their
most frequently originated rate bucket of loans were 3-4%,
with 247 originations.
Loan Sizing
| Loan Size |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| $100k-200k |
307 |
$45,145,000 |
$147,052 |
$2,673 |
3.10% |
| $200k-400k |
196 |
$51,020,000 |
$260,306 |
$3,250 |
2.90% |
| $100,000 or less |
82 |
$6,190,000 |
$75,488 |
$2,232 |
3.69% |
| $400k-600k |
30 |
$14,450,000 |
$481,667 |
$2,859 |
3.21% |
| $600k-1MM |
11 |
$8,075,000 |
$734,091 |
$2,647 |
3.82% |
| $1MM+ |
5 |
$7,245,000 |
$1,449,000 |
$3,042 |
3.87% |
2021 saw Peoples Exchange Bank place emphasis on
$100k-200k loans
with 307 originations, totaling
$45,145,000 in origination value.
Applicant Income
| Applicant Income |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| $50k-75k |
129 |
$22,105,000 |
$171,357 |
$3,005 |
2.77% |
| $50k or less |
117 |
$17,625,000 |
$150,641 |
$2,999 |
2.95% |
| $100k-150k |
94 |
$23,150,000 |
$246,277 |
$2,650 |
2.77% |
| $75k-100k |
78 |
$15,460,000 |
$198,205 |
$2,896 |
2.86% |
| $150k-250k |
46 |
$12,430,000 |
$270,217 |
$2,582 |
3.01% |
| $250k+ |
28 |
$6,640,000 |
$237,143 |
$2,671 |
3.63% |
Peoples Exchange Bank lent most frequently to those with incomes in the
$50k-75k range, with
129 originations.
The second most popular income band? $50k or less,
with 117 originations.
Applicant Debt to Income Ratio
| DTI Ratio |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| 20-30% |
118 |
$22,560,000 |
$191,186 |
$2,710 |
2.63% |
| 30-36% |
93 |
$20,695,000 |
$222,527 |
$2,670 |
2.74% |
| <20% |
47 |
$8,375,000 |
$178,191 |
$2,417 |
2.58% |
| 39% |
20 |
$4,090,000 |
$204,500 |
$3,384 |
2.59% |
| 44% |
18 |
$3,620,000 |
$201,111 |
$3,162 |
2.66% |
| 36% |
17 |
$3,755,000 |
$220,882 |
$2,980 |
2.62% |
| 37% |
17 |
$4,265,000 |
$250,882 |
$2,695 |
2.82% |
| 42% |
13 |
$2,475,000 |
$190,385 |
$3,239 |
2.60% |
| 43% |
13 |
$2,695,000 |
$207,308 |
$4,513 |
2.95% |
| 38% |
11 |
$2,865,000 |
$260,455 |
$2,794 |
2.82% |
| 41% |
9 |
$1,915,000 |
$212,778 |
$2,663 |
2.89% |
| 40% |
8 |
$1,420,000 |
$177,500 |
$3,570 |
2.59% |
| 46% |
8 |
$1,340,000 |
$167,500 |
$3,963 |
2.56% |
| 49% |
6 |
$880,000 |
$146,667 |
$2,832 |
2.85% |
| 45% |
6 |
$1,520,000 |
$253,333 |
$3,338 |
2.48% |
| 48% |
5 |
$1,125,000 |
$225,000 |
$3,214 |
2.65% |
| >60% |
3 |
$305,000 |
$101,667 |
$1,374 |
4.92% |
| 47% |
3 |
$465,000 |
$155,000 |
$2,180 |
3.42% |
| 50-60% |
3 |
$1,025,000 |
$341,667 |
$4,730 |
2.67% |
Peoples Exchange Bank lent most frequently to those with DTI ratios
of 20-30%, with
118 originations.
The next most common DTI ratio? 30-36%,
with 93 originations.
Ethnicity Mix
| Applicant Ethnicity |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| White |
451 |
$88,275,000 |
$195,732 |
$2,892 |
2.91% |
| Not applicable |
135 |
$33,855,000 |
$250,778 |
$0 |
4.01% |
| Not provided |
29 |
$6,565,000 |
$226,379 |
$2,481 |
2.59% |
| Black |
11 |
$2,285,000 |
$207,727 |
$3,225 |
3.55% |
| Asian Indian |
1 |
$465,000 |
$465,000 |
$3,202 |
2.75% |
| American Indian |
2 |
$450,000 |
$225,000 |
$2,492 |
2.63% |
| Asian |
1 |
$125,000 |
$125,000 |
$3,079 |
1.99% |
| Other Asian |
1 |
$105,000 |
$105,000 |
$0 |
4.25% |
Approval Rates
Total approvals of all applications
88.16%
Peoples Exchange Bank has an average approval rate.
Pick Rate
Approvals leading to origination
76.52%
Peoples Exchange Bank has a below average pick rate.
Points and Fees
| Points |
Originations |
Total Value |
Average Loan |
| NA |
631 |
$132,125,000 |
$209,390 |
Occupancy Type Mix
| Dwelling Type |
Originations |
Total Value |
Average Loan |
|
631 |
$132,125,000 |
$209,390 |
LTV Distribution
| Loan to Value |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| 20-40% |
22 |
$2,610,000 |
$118,636 |
$1,910 |
3.15% |
| 40-60% |
83 |
$13,915,000 |
$167,651 |
$2,325 |
2.89% |
| 60-80% |
250 |
$57,020,000 |
$228,080 |
$2,419 |
3.26% |
| 80-100% |
266 |
$57,370,000 |
$215,677 |
$3,397 |
3.08% |
| Over 100% |
4 |
$840,000 |
$210,000 |
$8,600 |
3.13% |
| Under 20% |
4 |
$270,000 |
$67,500 |
$1,752 |
4.09% |
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) |
| Peoples Exchange Bank |
5377 Main Street Clay City, KY 40312 |
Full Service Retail
|
$4,059 |
| Peoples Exchange Bank |
101 North Main Street Winchester, KY 40391 |
Full Service B&M
|
$117,828 |
| Peoples Exchange Bank |
175 Brooks Place Way Winchester, KY 40391 |
Full Service B&M
|
$18,079 |
| Peoples Exchange Bank |
212 Apperson Heights Mount Sterling, KY 40353 |
Full Service B&M
|
$11,381 |
| Peoples Exchange Bank |
3101 Claysmill Rd. Lexington, KY 40503 |
Full Service B&M
|
$14,509 |
| Peoples Exchange Bank |
53 E Pendleton Street Stanton, KY 40380 |
Full Service B&M
|
$31,098 |
| Peoples Exchange Bank |
560 Indian Mound Drive Mount Sterling, KY 40353 |
Full Service Retail
|
$81,264 |
| Peoples Exchange Bank |
901 Richmond Road Lexington, KY 40502 |
Full Service B&M
|
$42,962 |
| Peoples Exchange Bank |
923 South Broadway Georgetown, KY 40324 |
Full Service B&M
|
$39,331 |
| Peoples Exchange Bank |
Highways 52 And 11 Beattyville, KY 41311 |
Full Service B&M
|
$68,517 |
For 2021, Peoples Exchange Bank had 10 branches.
Yearly Performance Overview
Bank Income
Peoples Exchange Bank's gross interest income from loans was $18,702,000.
Peoples Exchange Bank's net interest income from loans was $16,929,000.
Peoples Exchange Bank's fee based income from loans was $1,087,000.
Peoples Exchange Bank's net income from loans was $5,368,000.
Bank Expenses
| Item |
Value (in 000's) |
| Total interest expense |
$1,773 |
| Provision for credit losses |
$100 |
| Total noninterest expense |
$13,814 |
| Salaries and employee benefits |
$7,882 |
| Premises and equipment expense |
$2,232 |
| Additional noninterest expense |
$3,700 |
| Applicable income taxes |
$1,475 |
| Net charge-offs |
$-5 |
| Cash dividends |
$1,600 |
Peoples Exchange Bank's interest expense for loans was $1,773,000.
Peoples Exchange Bank's payroll and benefits expense were $7,882,000.
Peoples Exchange Bank's property, plant and equipment expenses $2,232,000.
Deposits
| Type |
Value (in 000's) |
| Total deposits |
$445,060 |
| Deposits held in domestic offices |
$445,060 |
| Deposits by Individuals, partnerships, and corporations |
$395,279 |
| Deposits by U.S. Government |
$0 |
| Deposits by States and political subdivisions in the U.S. |
$49,531 |
| Deposits by Commercial banks and other depository institutions in U.S. |
$250 |
| Deposits by Banks in foreign countries |
$0 |
| Deposits by Foreign governments and official institutions |
$0 |
| Transaction accounts |
$229,497 |
| Demand deposits |
$229,497 |
| Nontransaction accounts |
$215,563 |
| Money market deposit accounts (MMDAs) |
$50,603 |
| Other savings deposits (excluding MMDAs) |
$61,471 |
| Total time deposits |
$103,488 |
| Total time and savings deposits |
$215,563 |
| Noninterest-bearing deposits |
$129,944 |
| Interest-bearing deposits |
$315,116 |
| Retail deposits |
$416,714 |
| IRAs and Keogh plan accounts |
$14,494 |
| Brokered deposits |
$0 |
| Deposits held in foreign offices |
$0 |
Assets
| Asset |
Value (in 000's) |
| Total Assets |
$505,600 |
| Cash & Balances due from depository institutions |
$50,697 |
| Interest-bearing balances |
$46,239 |
| Total securities |
$70,959 |
| Federal funds sold & reverse repurchase |
$4,730 |
| Net loans and leases |
$355,421 |
| Loan and leases loss allowance |
$4,353 |
| Trading account assets |
$0 |
| Bank premises and fixed assets |
$11,629 |
| Other real estate owned |
$0 |
| Goodwill and other intangibles |
$555 |
| All other assets |
$11,609 |
Liabilities
| Liabilities |
Value (in 000's) |
| Total liabilities and capital |
$505,600 |
| Total Liabilities |
$459,414 |
| Total deposits |
$445,060 |
| Interest-bearing deposits |
$315,116 |
| Deposits held in domestic offices |
$445,060 |
| % insured (estimated) |
$79 |
| Federal funds purchased and repurchase agreements |
$5,742 |
| Trading liabilities |
$0 |
| Other borrowed funds |
$4,721 |
| Subordinated debt |
$0 |
| All other liabilities |
$3,891 |
Issued Loan Types
| Type |
Value (in 000's) |
| Net loans and leases |
$355,421 |
| Loan and leases loss allowance |
$4,353 |
| Total loans and leases (domestic) |
$359,774 |
| All real estate loans |
$338,250 |
| Real estate loans in domestic offices |
$338,250 |
| Construction and development loans |
$23,064 |
| Residential 1-4 family construction |
$11,416 |
| Other construction, all land development and other land |
$11,648 |
| Loans secured by nonfarm nonresidential properties |
$93,732 |
| Nonfarm nonresidential secured by owner-occupied properties |
$53,157 |
| Commercial real estate & other non-farm, non-residential |
$40,575 |
| Multifamily residential real estate |
$21,893 |
| 1-4 family residential loans |
$159,924 |
| Farmland loans |
$39,637 |
| Loans held in foreign offices |
$0 |
| Farm loans |
$5,283 |
| Commercial and industrial loans |
$10,436 |
| To non-U.S. addressees |
$0 |
| Loans to individuals |
$5,287 |
| Credit card loans |
$0 |
| Related Plans |
$15 |
| Consumer Auto Loans |
$2,196 |
| Other loans to individuals |
$3,076 |
| All other loans & leases |
$518 |
| Loans to foreign governments and official institutions |
$0 |
| Other loans |
$0 |
| 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 |
$992 |
| Non 1-4 family restructured loans & leases |
$843 |
| Total loans and leases (foreign) |
$0 |
Peoples Exchange Bank had $355,421,000 of loans outstanding in 2021. $338,250,000 of loans were in real estate loans.
$23,064,000 of loans were in development loans. $21,893,000 of loans were in multifamily mortgage loans.
$159,924,000 of loans were in 1-4 family mortgage loans. $5,283,000 of loans were in farm loans. $0
of loans were in credit card loans. $2,196,000 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 |
193 |
$44,690 |
$231,554 |
| Nonfarm, nonresidential loans - <$100k |
36 |
$1,546 |
$42,944 |
| Nonfarm, nonresidential loans - $100-250k |
67 |
$8,447 |
$126,075 |
| Nonfarm, nonresidential loans - $250k-1MM |
90 |
$34,697 |
$385,522 |
| Commercial & Industrial, US addressed loans - <$1MM |
290 |
$9,799 |
$33,790 |
| Commercial & Industrial, US addressed loans - <$100k |
245 |
$5,012 |
$20,457 |
| Commercial & Industrial, US addressed loans - $100-250k |
30 |
$1,584 |
$52,800 |
| Commercial & Industrial, US addressed loans - $250k-1MM |
15 |
$3,203 |
$213,533 |
| Farmland loans - <$1MM |
185 |
$25,165 |
$136,027 |
| Farmland loans - <$100k |
61 |
$2,545 |
$41,721 |
| Farmland loans - $100-250k |
86 |
$11,491 |
$133,616 |
| Farmland loans - $250k-1MM |
38 |
$11,129 |
$292,868 |
| Agriculture operations loans - <$1MM |
187 |
$5,283 |
$28,251 |
| Agriculture operations loans - <$100k |
176 |
$3,987 |
$22,653 |
| Agriculture operations loans - $100-250k |
10 |
$1,095 |
$109,500 |
| Agriculture operations loans - $250k-1MM |
1 |
$201 |
$201,000 |
