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, Richmond, Frankfort, and Huntington among others. We have data for 12 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% 12/16/24
    30 Year Conventional Refi 6.28% 12/16/24
    30 Year Cash-out Refi 6.61% 12/16/24
    30 Year FHA Purchase 6.91% 12/16/24
    30 Year VA Purchase 5.73% 12/16/24
    30 Year USDA Purchase 6.16% 12/16/24
    15 Year Conventional Purchase 6.01% 12/16/24
    15 Year Conventional Refi 6.00% 12/16/24
    15 Year Cash-out Refi 6.00% 12/16/24
    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

    704

    Origination Dollar Volume (All Markets)

    $148,790,000

    Employee count

    90 Show all (11) 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) 519 $113,715,000 $219,104 $2,870 3.25%
    Mount Sterling, KY (FHA|USDA|VA) 68 $10,530,000 $154,853 $2,719 3.31%
    Outside of Metro Areas 47 $7,475,000 $159,043 $2,719 3.36%
    Richmond-Berea, KY (FHA|USDA|VA) 23 $5,135,000 $223,261 $2,879 3.49%
    Frankfort, KY (FHA|USDA|VA) 25 $4,585,000 $183,400 $3,426 3.45%
    HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) 3 $2,575,000 $858,333 $0 4.00%
    LOUISVILLE, KY (FHA|USDA|VA) 8 $2,400,000 $300,000 $3,053 2.84%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 5 $1,075,000 $215,000 $4,465 2.95%
    Danville, KY (FHA|USDA|VA) 3 $695,000 $231,667 $0 4.33%
    BOWLING GREEN, KY (FHA|USDA|VA) 1 $305,000 $305,000 $9,504 3.25%
    Maysville, KY (FHA|USDA|VA) 1 $225,000 $225,000 $2,619 3.38%
    Somerset, KY (FHA|USDA|VA) 1 $75,000 $75,000 $2,328 3.25%
    Peoples Exchange Bank's top markets include Lexington, Mount Sterling, Richmond, Frankfort, and Huntington 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.

    Peoples Exchange Bank
    Similarity Rank: 552
    MORTGAGE SUPPLIERS, INC.
    Similarity Rank: 697
    COMMONWEALTH
    Similarity Rank: 725
    Traditional Bank, Inc.
    Similarity Rank: 891
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    Similarity Rank: 1222
    THE MORTGAGE WAREHOUSE,LLC
    Similarity Rank: 1232
    PARK COMMUNITY CREDIT UNION, INC.
    Similarity Rank: 1394
    Central Bank
    Similarity Rank: 1428
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    Similarity Rank: 1581
    Community Trust Bank, Inc.
    Similarity Rank: 1742

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 592 $128,150,000 $216,470 $2,431 3.37%
    USDA 48 $8,290,000 $172,708 $3,740 2.65%
    FHA 47 $8,485,000 $180,532 $5,236 2.86%
    VA 17 $3,865,000 $227,353 $5,060 2.92%

    For 2020, Peoples Exchange Bank's most frequently originated type of loan was Conventional, with 592 originations. Their 2nd most popular type was USDA, with 48 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 352 $76,230,000 $216,563 $3,359 3.27%
    Refi 224 $47,040,000 $210,000 $2,343 3.29%
    Cash Out Refi 121 $24,515,000 $202,603 $2,417 3.19%
    Home Improvement 7 $1,005,000 $143,571 $2,010 4.64%

    For 2020, Peoples Exchange Bank's most frequently cited loan purpose was Home Purchase, with 352 originations. The 2nd most popular reason was Refi, with 224 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 400 $87,130,000 $217,825 $3,068 2.99%
    Other 127 $23,675,000 $186,417 $2,477 4.00%
    20 Year 78 $20,690,000 $265,256 $2,313 3.74%
    15 Year 75 $13,755,000 $183,400 $2,287 2.91%
    10 Year 11 $1,295,000 $117,727 $2,283 3.23%
    1 Year 10 $1,910,000 $191,000 $0 4.45%
    5 Year 2 $160,000 $80,000 $0 4.50%
    3 Year 1 $175,000 $175,000 $0 4.25%

    For 2020, Peoples Exchange Bank's most frequently cited loan duration was 30 Year, with 400 originations. The 2nd most popular length was Other, with 127 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 498 $104,390,000 $209,618
    $1k-2k 26 $5,170,000 $198,846
    $2k-3k 1 $215,000 $215,000
    $3k-4k 1 $245,000 $245,000

    Peoples Exchange Bank's average total fees were $3,068, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 498 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 214 $48,830,000 $228,178
    2.5-3% 193 $41,525,000 $215,155
    <2.5% 165 $37,005,000 $224,273
    4-5% 121 $19,755,000 $163,264
    5-6% 9 $1,145,000 $127,222
    6-7% 1 $155,000 $155,000

    During 2020, Peoples Exchange Bank's average interest rate for loans was 2.99%, while their most frequently originated rate bucket for loans was 3-4%, with 214 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 296 $44,840,000 $151,486 $2,938 3.30%
    $200k-400k 271 $72,875,000 $268,911 $2,994 3.01%
    $100,000 or less 103 $7,785,000 $75,583 $2,191 3.87%
    $400k-600k 26 $12,070,000 $464,231 $2,615 3.14%
    $1MM+ 4 $7,910,000 $1,977,500 $0 4.06%
    $600k-1MM 4 $3,310,000 $827,500 $0 4.06%

    2020 saw Peoples Exchange Bank place emphasis on $100k-200k loans with 296 originations, totaling $44,840,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 146 $26,280,000 $180,000 $3,005 3.00%
    $100k-150k 134 $32,940,000 $245,821 $2,563 3.08%
    $50k or less 119 $16,355,000 $137,437 $3,243 3.20%
    $75k-100k 97 $19,495,000 $200,979 $2,966 3.01%
    $150k-250k 62 $16,130,000 $260,161 $2,514 3.04%
    $250k+ 15 $4,375,000 $291,667 $2,682 3.16%

    Peoples Exchange Bank lent most frequently to those with incomes in the $50k-75k range, with 146 originations. The second most popular income band? $100k-150k, with 134 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 173 $38,205,000 $220,838 $2,581 2.91%
    30-36% 102 $20,730,000 $203,235 $3,006 2.96%
    <20% 80 $18,090,000 $226,125 $2,436 2.83%
    37% 23 $4,495,000 $195,435 $2,577 2.99%
    36% 18 $3,600,000 $200,000 $2,793 2.80%
    40% 18 $3,670,000 $203,889 $3,870 2.95%
    38% 16 $3,260,000 $203,750 $3,367 3.02%
    44% 15 $3,225,000 $215,000 $3,552 2.99%
    45% 11 $2,575,000 $234,091 $3,624 3.00%
    41% 11 $2,165,000 $196,818 $3,762 3.64%
    42% 10 $1,770,000 $177,000 $3,420 3.21%
    39% 10 $1,910,000 $191,000 $2,668 2.97%
    47% 9 $1,785,000 $198,333 $3,467 3.14%
    43% 8 $1,610,000 $201,250 $3,726 2.92%
    50-60% 7 $1,045,000 $149,286 $4,403 3.84%
    48% 6 $1,240,000 $206,667 $3,465 3.02%
    49% 5 $1,005,000 $201,000 $3,472 2.78%
    46% 5 $1,155,000 $231,000 $2,245 2.80%
    >60% 1 $165,000 $165,000 $1,861 4.00%

    Peoples Exchange Bank lent most frequently to those with DTI ratios of 20-30%, with 173 originations. The next most common DTI ratio? 30-36%, with 102 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 532 $106,890,000 $200,921 $2,873 3.08%
    Not applicable 124 $31,500,000 $254,032 $0 4.25%
    Not provided 29 $6,205,000 $213,966 $2,910 2.74%
    Asian 6 $1,620,000 $270,000 $3,237 3.02%
    Black 7 $1,415,000 $202,143 $3,083 3.18%
    American Indian 3 $495,000 $165,000 $2,100 3.79%
    Japanese 1 $355,000 $355,000 $2,924 2.25%
    Native Hawaiian or Islander 1 $165,000 $165,000 $4,971 3.38%
    Other Asian 1 $145,000 $145,000 $0 4.00%

    Approval Rates

    Total approvals of all applications
    87.02%

    Peoples Exchange Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    71.73%

    Peoples Exchange Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 704 $148,790,000 $211,349

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 21 $14,165,000 $674,524
    Single Family (1-4 Units):Manufactured 8 $760,000 $95,000
    Single Family (1-4 Units):Site-Built 675 $133,865,000 $198,319

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 24 $5,460,000 $227,500 $2,075 3.44%
    40-60% 85 $16,245,000 $191,118 $2,306 3.00%
    60-80% 265 $58,365,000 $220,245 $2,438 3.41%
    80-100% 314 $65,360,000 $208,153 $3,351 3.22%
    Over 100% 6 $1,280,000 $213,333 $7,451 3.19%
    Under 20% 2 $110,000 $55,000 $2,165 4.31%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Peoples Home Equity, Inc. VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    Peoples Home Equity, Inc. VA mortgage Trouble during payment process 1 50.0%

    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 $100,470
    Peoples Exchange Bank 175 Brooks Place Way Winchester, KY 40391 Full Service B&M $15,043
    Peoples Exchange Bank 212 Apperson Heights Mount Sterling, KY 40353 Full Service B&M $10,856
    Peoples Exchange Bank 3101 Claysmill Rd. Lexington, KY 40503 Full Service B&M $11,919
    Peoples Exchange Bank 53 E Pendleton Street Stanton, KY 40380 Full Service B&M $27,625
    Peoples Exchange Bank 5377 Main Street Clay City, KY 40312 Full Service Retail $3,058
    Peoples Exchange Bank 560 Indian Mound Drive Mount Sterling, KY 40353 Full Service Retail $72,181
    Peoples Exchange Bank 901 Richmond Road Lexington, KY 40502 Full Service B&M $31,749
    Peoples Exchange Bank 923 South Broadway Georgetown, KY 40324 Full Service B&M $34,740
    Peoples Exchange Bank Highways 52 And 11 Beattyville, KY 41311 Full Service B&M $64,244

    For 2020, Peoples Exchange Bank had 10 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $18,271
    Net interest income $15,335
    Total noninterest income $4,160
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,205
    Trading account gains and fees $0
    Additional Noninterest Income $2,955
    Pre-tax net operating income $5,777
    Securities gains (or losses, -) $9
    Income before extraordinary items $4,792
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,792
    Minority interest net income $0
    Net income $4,792
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,784

    Peoples Exchange Bank's gross interest income from loans was $18,271,000.
    Peoples Exchange Bank's net interest income from loans was $15,335,000.
    Peoples Exchange Bank's fee based income from loans was $1,205,000.
    Peoples Exchange Bank's net income from loans was $4,792,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,936
    Provision for credit losses $300
    Total noninterest expense $13,418
    Salaries and employee benefits $7,298
    Premises and equipment expense $2,067
    Additional noninterest expense $4,053
    Applicable income taxes $994
    Net charge-offs $91
    Cash dividends $1,600

    Peoples Exchange Bank's interest expense for loans was $2,936,000.
    Peoples Exchange Bank's payroll and benefits expense were $7,298,000.
    Peoples Exchange Bank's property, plant and equipment expenses $2,067,000.

    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 $396,887
    Deposits held in domestic offices $396,887
    Deposits by Individuals, partnerships, and corporations $352,450
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $43,662
    Deposits by Commercial banks and other depository institutions in U.S. $775
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $198,117
    Demand deposits $198,117
    Nontransaction accounts $198,770
    Money market deposit accounts (MMDAs) $43,951
    Other savings deposits (excluding MMDAs) $47,227
    Total time deposits $107,592
    Total time and savings deposits $198,770
    Noninterest-bearing deposits $106,845
    Interest-bearing deposits $290,042
    Retail deposits $369,551
    IRAs and Keogh plan accounts $15,755
    Brokered deposits $500
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $460,749
    Cash & Balances due from depository institutions $64,605
    Interest-bearing balances $57,453
    Total securities $14,758
    Federal funds sold & reverse repurchase $6,578
    Net loans and leases $351,281
    Loan and leases loss allowance $4,248
    Trading account assets $0
    Bank premises and fixed assets $12,022
    Other real estate owned $0
    Goodwill and other intangibles $575
    All other assets $10,930

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $460,749
    Total Liabilities $418,094
    Total deposits $396,887
    Interest-bearing deposits $290,042
    Deposits held in domestic offices $396,887
    % insured (estimated) $82
    Federal funds purchased and repurchase agreements $5,482
    Trading liabilities $0
    Other borrowed funds $12,607
    Subordinated debt $0
    All other liabilities $3,118

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $351,281
    Loan and leases loss allowance $4,248
    Total loans and leases (domestic) $355,529
    All real estate loans $324,792
    Real estate loans in domestic offices $324,792
    Construction and development loans $14,821
    Residential 1-4 family construction $7,856
    Other construction, all land development and other land $6,965
    Loans secured by nonfarm nonresidential properties $92,240
    Nonfarm nonresidential secured by owner-occupied properties $54,839
    Commercial real estate & other non-farm, non-residential $37,401
    Multifamily residential real estate $27,048
    1-4 family residential loans $148,549
    Farmland loans $42,134
    Loans held in foreign offices $0
    Farm loans $5,760
    Commercial and industrial loans $18,643
    To non-U.S. addressees $0
    Loans to individuals $5,784
    Credit card loans $0
    Related Plans $24
    Consumer Auto Loans $2,238
    Other loans to individuals $3,522
    All other loans & leases $550
    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 $1,144
    Non 1-4 family restructured loans & leases $882
    Total loans and leases (foreign) $0

    Peoples Exchange Bank had $351,281,000 of loans outstanding in 2020. $324,792,000 of loans were in real estate loans. $14,821,000 of loans were in development loans. $27,048,000 of loans were in multifamily mortgage loans. $148,549,000 of loans were in 1-4 family mortgage loans. $5,760,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,238,000 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 183 $40,971 $223,885
    Nonfarm, nonresidential loans - <$100k 38 $1,771 $46,605
    Nonfarm, nonresidential loans - $100-250k 63 $7,825 $124,206
    Nonfarm, nonresidential loans - $250k-1MM 82 $31,375 $382,622
    Commercial & Industrial, US addressed loans - <$1MM 439 $16,273 $37,068
    Commercial & Industrial, US addressed loans - <$100k 368 $7,991 $21,715
    Commercial & Industrial, US addressed loans - $100-250k 53 $4,405 $83,113
    Commercial & Industrial, US addressed loans - $250k-1MM 18 $3,877 $215,389
    Farmland loans - <$1MM 194 $25,515 $131,521
    Farmland loans - <$100k 67 $2,699 $40,284
    Farmland loans - $100-250k 91 $12,172 $133,758
    Farmland loans - $250k-1MM 36 $10,644 $295,667
    Agriculture operations loans - <$1MM 183 $5,265 $28,770
    Agriculture operations loans - <$100k 169 $3,457 $20,456
    Agriculture operations loans - $100-250k 13 $1,607 $123,615
    Agriculture operations loans - $250k-1MM 1 $201 $201,000