Peoples Exchange Bank Mortgage Rates, Fees & Info

Winchester, KY

LEI: 549300Q3RKNDNMSDEE10

Tax ID: 61-0305975

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & 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 an average proportion of FHA loans. Their top markets by origination volume include: Lexington, Mount Sterling, Frankfort, Richmond, and Cincinnati among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Peoples Exchange Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Peoples Exchange Bank is typically a low 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.58% 4/21/24
    30 Year Conventional Refi 6.28% 4/21/24
    30 Year Cash-out Refi 6.61% 4/21/24
    30 Year FHA Purchase 6.91% 4/21/24
    30 Year VA Purchase 5.73% 4/21/24
    30 Year USDA Purchase 6.16% 4/21/24
    15 Year Conventional Purchase 6.01% 4/21/24
    15 Year Conventional Refi 6.00% 4/21/24
    15 Year Cash-out Refi 6.00% 4/21/24
    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.

    Peoples Exchange Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Peoples Exchange Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    485

    Origination Dollar Volume (All Markets)

    $84,985,000

    Employee count

    95 Show all (14) 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
    LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 355 $65,585,000 $184,746 $3,064 4.37%
    Mount Sterling, KY (FHA|USDA|VA) 47 $7,485,000 $159,255 $3,226 4.18%
    Outside of Metro Areas 49 $6,765,000 $138,061 $2,701 4.53%
    Frankfort, KY (FHA|USDA|VA) 15 $2,395,000 $159,667 $3,456 4.13%
    Richmond-Berea, KY (FHA|USDA|VA) 15 $2,255,000 $150,333 $3,012 4.17%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 2 $200,000 $100,000 $2,242 4.43%
    LOUISVILLE, KY (FHA|USDA|VA) 1 $155,000 $155,000 $1,457 3.00%
    BOWLING GREEN, KY (FHA|USDA|VA) 1 $145,000 $145,000 $2,656 3.50%
    Peoples Exchange Bank's top markets include Lexington, Mount Sterling, Frankfort, Richmond, and Cincinnati among others.

    Their top states include:
  • Kentucky (FHA|USDA|VA)

    • Similar Lenders

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

    COMMONWEALTH
    Similarity Rank: 240
    Peoples Exchange Bank
    Similarity Rank: 400
    MEMBERS HERITAGE Credit Union
    Similarity Rank: 640
    MORTGAGE SUPPLIERS, INC.
    Similarity Rank: 714
    Guardian Savings Bank, A Federal Savings Bank
    Similarity Rank: 720
    Kentucky Bank
    Similarity Rank: 744
    Traditional Bank, Inc.
    Similarity Rank: 1040
    PARK COMMUNITY CREDIT UNION, INC.
    Similarity Rank: 1168
    Central Bank
    Similarity Rank: 1200
    City National Bank of West Virginia
    Similarity Rank: 1209

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 372 $66,310,000 $178,253 $2,367 4.58%
    FHA 57 $9,125,000 $160,088 $4,743 3.60%
    USDA 45 $7,035,000 $156,333 $3,601 3.62%
    VA 11 $2,515,000 $228,636 $4,430 3.53%

    For 2019, Peoples Exchange Bank's most frequently originated type of loan was Conventional, with 372 originations. Their 2nd most popular type was FHA, with 57 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 319 $55,695,000 $174,592 $3,288 4.21%
    Refi 101 $18,485,000 $183,020 $2,227 4.59%
    Cash Out Refi 58 $9,760,000 $168,276 $2,439 4.61%
    Home Improvement 5 $895,000 $179,000 $0 5.20%
    Other 2 $150,000 $75,000 $1,961 4.50%

    For 2019, Peoples Exchange Bank's most frequently cited loan purpose was Home Purchase, with 319 originations. The 2nd most popular reason was Refi, with 101 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 281 $50,845,000 $180,943 $3,168 3.90%
    Other 88 $15,540,000 $176,591 $1,816 5.16%
    20 Year 60 $9,280,000 $154,667 $2,138 5.13%
    15 Year 43 $7,765,000 $180,581 $2,283 4.25%
    1 Year 10 $1,480,000 $148,000 $0 5.24%
    10 Year 3 $75,000 $25,000 $1,146 5.58%

    For 2019, Peoples Exchange Bank's most frequently cited loan duration was 30 Year, with 281 originations. The 2nd most popular length was Other, with 88 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 294 $51,790,000 $176,156
    $1k-2k 22 $4,150,000 $188,636
    $3k-4k 1 $405,000 $405,000

    Peoples Exchange Bank's average total fees were $3,168, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 294 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 203 $38,205,000 $188,202
    4-5% 154 $27,030,000 $175,519
    5-6% 110 $16,590,000 $150,818
    2.5-3% 15 $2,935,000 $195,667
    6-7% 2 $40,000 $20,000

    During 2019, Peoples Exchange Bank's average interest rate for loans was 3.90%, while their most frequently originated rate bucket for loans was 3-4%, with 203 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 264 $38,620,000 $146,288 $3,114 4.23%
    $200k-400k 112 $29,320,000 $261,786 $3,277 4.05%
    $100,000 or less 90 $6,530,000 $72,556 $2,139 5.01%
    $400k-600k 14 $6,760,000 $482,857 $2,942 4.28%
    $600k-1MM 4 $2,720,000 $680,000 $0 5.50%
    $1MM+ 1 $1,035,000 $1,035,000 $0 5.00%

    2019 saw Peoples Exchange Bank place emphasis on $100k-200k loans with 264 originations, totaling $38,620,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 106 $13,180,000 $124,340 $3,111 4.13%
    $50k-75k 93 $14,575,000 $156,720 $3,123 4.00%
    $100k-150k 75 $14,915,000 $198,867 $2,780 4.22%
    $75k-100k 65 $12,795,000 $196,846 $3,182 4.01%
    $150k-250k 21 $5,565,000 $265,000 $2,776 4.14%
    $250k+ 9 $2,535,000 $281,667 $2,536 4.64%

    Peoples Exchange Bank lent most frequently to those with incomes in the $50k or less range, with 106 originations. The second most popular income band? $50k-75k, with 93 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 89 $15,925,000 $178,933 $2,704 3.98%
    30-36% 61 $11,185,000 $183,361 $2,900 3.89%
    <20% 33 $5,265,000 $159,545 $2,594 3.87%
    36% 15 $2,665,000 $177,667 $3,234 3.89%
    44% 14 $2,520,000 $180,000 $2,869 3.75%
    37% 14 $2,160,000 $154,286 $3,362 4.09%
    42% 13 $2,335,000 $179,615 $3,076 3.91%
    38% 13 $2,045,000 $157,308 $3,714 4.10%
    40% 11 $2,225,000 $202,273 $3,809 3.74%
    43% 11 $1,805,000 $164,091 $3,733 3.77%
    39% 10 $1,550,000 $155,000 $3,021 3.81%
    41% 8 $1,310,000 $163,750 $2,826 4.06%
    46% 8 $1,370,000 $171,250 $3,587 4.30%
    45% 7 $1,295,000 $185,000 $5,232 3.73%
    49% 5 $945,000 $189,000 $3,177 4.18%
    50-60% 5 $1,165,000 $233,000 $3,262 3.65%
    47% 3 $455,000 $151,667 $4,917 3.67%
    48% 3 $745,000 $248,333 $3,593 3.75%
    >60% 1 $205,000 $205,000 $1,865 5.25%

    Peoples Exchange Bank lent most frequently to those with DTI ratios of 20-30%, with 89 originations. The next most common DTI ratio? 30-36%, with 61 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 360 $62,070,000 $172,417 $3,017 4.11%
    Not applicable 110 $20,260,000 $184,182 $0 5.19%
    Not provided 8 $1,570,000 $196,250 $3,845 3.84%
    Black 5 $795,000 $159,000 $2,744 4.33%
    Asian 1 $165,000 $165,000 $5,214 3.00%
    Native Hawaiian or Islander 1 $125,000 $125,000 $0 5.25%

    Approval Rates

    Total approvals of all applications
    86.64%

    Peoples Exchange Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    81.65%

    Peoples Exchange Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 485 $84,985,000 $175,227

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 2 $410,000 $205,000
    Multifamily:Site-Built 20 $9,530,000 $476,500
    Single Family (1-4 Units):Manufactured 7 $335,000 $47,857
    Single Family (1-4 Units):Site-Built 456 $74,710,000 $163,838

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 9 $775,000 $86,111 $2,209 4.53%
    40-60% 41 $6,535,000 $159,390 $2,148 4.35%
    60-80% 149 $28,475,000 $191,107 $2,476 4.58%
    80-100% 276 $48,420,000 $175,435 $3,395 4.19%
    Over 100% 2 $370,000 $185,000 $6,788 4.56%
    Under 20% 3 $105,000 $35,000 $1,773 5.50%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION Conventional home mortgage Struggling to pay mortgage 3 21.4%
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION Conventional home mortgage Trouble during payment process 4 28.6%
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 7.1%
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION Home equity loan or line of credit (HELOC) Closing on a mortgage 1 7.1%
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION Home equity loan or line of credit (HELOC) Struggling to pay mortgage 2 14.3%
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION Home equity loan or line of credit (HELOC) Trouble during payment process 1 7.1%
    PEOPLE'S UNITED BANK, NATIONAL ASSOCIATION Other type of mortgage Trouble during payment process 2 14.3%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Peoples Exchange Bank 101 North Main Street Winchester, KY 40391 Full Service B&M $101,721
    Peoples Exchange Bank 175 Brooks Place Way Winchester, KY 40391 Full Service B&M $14,992
    Peoples Exchange Bank 212 Apperson Heights Mount Sterling, KY 40353 Full Service B&M $6,405
    Peoples Exchange Bank 3101 Claysmill Rd. Lexington, KY 40503 Full Service B&M $11,057
    Peoples Exchange Bank 53 E Pendleton Street Stanton, KY 40380 Full Service B&M $24,419
    Peoples Exchange Bank 5377 Main Street Clay City, KY 40312 Full Service Retail $2,402
    Peoples Exchange Bank 560 Indian Mound Drive Mount Sterling, KY 40353 Full Service Retail $60,819
    Peoples Exchange Bank 901 Richmond Road Lexington, KY 40502 Full Service B&M $31,328
    Peoples Exchange Bank 923 South Broadway Georgetown, KY 40324 Full Service B&M $33,628
    Peoples Exchange Bank Highways 52 And 11 Beattyville, KY 41311 Full Service B&M $58,122

    For 2019, Peoples Exchange Bank had 10 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $18,268
    Net interest income $14,787
    Total noninterest income $3,631
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,609
    Trading account gains and fees $0
    Additional Noninterest Income $2,022
    Pre-tax net operating income $5,070
    Securities gains (or losses, -) $0
    Income before extraordinary items $4,363
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,363
    Minority interest net income $0
    Net income $4,363
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,363

    Peoples Exchange Bank's gross interest income from loans was $18,268,000.
    Peoples Exchange Bank's net interest income from loans was $14,787,000.
    Peoples Exchange Bank's fee based income from loans was $1,609,000.
    Peoples Exchange Bank's net income from loans was $4,363,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,481
    Provision for credit losses $255
    Total noninterest expense $13,093
    Salaries and employee benefits $7,097
    Premises and equipment expense $3,168
    Additional noninterest expense $2,828
    Applicable income taxes $707
    Net charge-offs $167
    Cash dividends $1,600

    Peoples Exchange Bank's interest expense for loans was $3,481,000.
    Peoples Exchange Bank's payroll and benefits expense were $7,097,000.
    Peoples Exchange Bank's property, plant and equipment expenses $3,168,000.

    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 $351,643
    Deposits held in domestic offices $351,643
    Deposits by Individuals, partnerships, and corporations $305,888
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $36,466
    Deposits by Commercial banks and other depository institutions in U.S. $9,289
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $161,257
    Demand deposits $79,960
    Nontransaction accounts $190,386
    Money market deposit accounts (MMDAs) $33,773
    Other savings deposits (excluding MMDAs) $38,092
    Total time deposits $118,520
    Total time and savings deposits $271,683
    Noninterest-bearing deposits $79,960
    Interest-bearing deposits $271,683
    Retail deposits $319,209
    IRAs and Keogh plan accounts $15,005
    Brokered deposits $9,289
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $416,824
    Cash & Balances due from depository institutions $31,205
    Interest-bearing balances $26,345
    Total securities $18,265
    Federal funds sold & reverse repurchase $9,084
    Net loans and leases $334,255
    Loan and leases loss allowance $4,039
    Trading account assets $0
    Bank premises and fixed assets $12,349
    Other real estate owned $70
    Goodwill and other intangibles $597
    All other assets $10,999

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $416,824
    Total Liabilities $377,642
    Total deposits $351,643
    Interest-bearing deposits $271,683
    Deposits held in domestic offices $351,643
    % insured (estimated) $81
    Federal funds purchased and repurchase agreements $3,069
    Trading liabilities $0
    Other borrowed funds $19,892
    Subordinated debt $0
    All other liabilities $3,038

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $334,255
    Loan and leases loss allowance $4,039
    Total loans and leases (domestic) $338,294
    All real estate loans $309,398
    Real estate loans in domestic offices $309,398
    Construction and development loans $20,510
    Residential 1-4 family construction $12,429
    Other construction, all land development and other land $8,081
    Loans secured by nonfarm nonresidential properties $93,310
    Nonfarm nonresidential secured by owner-occupied properties $54,194
    Commercial real estate & other non-farm, non-residential $39,116
    Multifamily residential real estate $20,708
    1-4 family residential loans $135,407
    Farmland loans $39,463
    Loans held in foreign offices $0
    Farm loans $6,058
    Commercial and industrial loans $16,443
    To non-U.S. addressees $0
    Loans to individuals $5,970
    Credit card loans $0
    Related Plans $30
    Consumer Auto Loans $2,374
    Other loans to individuals $3,566
    All other loans & leases $425
    Loans to foreign governments and official institutions $0
    Other loans $100
    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 $172
    Non 1-4 family restructured loans & leases $172
    Total loans and leases (foreign) $0

    Peoples Exchange Bank had $334,255,000 of loans outstanding in 2019. $309,398,000 of loans were in real estate loans. $20,510,000 of loans were in development loans. $20,708,000 of loans were in multifamily mortgage loans. $135,407,000 of loans were in 1-4 family mortgage loans. $6,058,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,374,000 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 195 $43,599 $223,585
    Nonfarm, nonresidential loans - <$100k 44 $3,079 $69,977
    Nonfarm, nonresidential loans - $100-250k 66 $8,048 $121,939
    Nonfarm, nonresidential loans - $250k-1MM 85 $32,472 $382,024
    Commercial & Industrial, US addressed loans - <$1MM 283 $14,662 $51,809
    Commercial & Industrial, US addressed loans - <$100k 221 $5,458 $24,697
    Commercial & Industrial, US addressed loans - $100-250k 47 $4,855 $103,298
    Commercial & Industrial, US addressed loans - $250k-1MM 15 $4,349 $289,933
    Farmland loans - <$1MM 187 $24,480 $130,909
    Farmland loans - <$100k 72 $3,163 $43,931
    Farmland loans - $100-250k 78 $10,774 $138,128
    Farmland loans - $250k-1MM 37 $10,543 $284,946
    Agriculture operations loans - <$1MM 175 $5,513 $31,503
    Agriculture operations loans - <$100k 161 $3,795 $23,571
    Agriculture operations loans - $100-250k 14 $1,718 $122,714