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 a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Lexington, Frankfort, Mount Sterling, Richmond, and Cincinnati 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 above 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.58% 4/18/24
    30 Year Conventional Refi 6.28% 4/18/24
    30 Year Cash-out Refi 6.61% 4/18/24
    30 Year FHA Purchase 6.91% 4/18/24
    30 Year VA Purchase 5.73% 4/18/24
    30 Year USDA Purchase 6.16% 4/18/24
    15 Year Conventional Purchase 6.01% 4/18/24
    15 Year Conventional Refi 6.00% 4/18/24
    15 Year Cash-out Refi 6.00% 4/18/24
    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

    631

    Origination Dollar Volume (All Markets)

    $132,125,000

    Employee count

    83 Show all (15) 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) 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, KY (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.

    Their top states include:
  • Kentucky (FHA|USDA|VA)
  • Missouri (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: 375
    Peoples Exchange Bank
    Similarity Rank: 468
    MORTGAGE SUPPLIERS, INC.
    Similarity Rank: 560
    The Monticello Banking Company
    Similarity Rank: 817
    Kentucky Bank
    Similarity Rank: 1144
    Traditional Bank, Inc.
    Similarity Rank: 1236
    The Citizens National Bank of Somerset
    Similarity Rank: 1274
    Central Bank
    Similarity Rank: 1368
    Western Ohio Mortgage Corporation
    Similarity Rank: 1400
    SOUTH CENTRAL BANK, INC.
    Similarity Rank: 1656

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Peoples Exchange Bank's most frequently originated type of loan was Conventional, with 549 originations. Their 2nd most popular type was USDA, with 43 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Peoples Exchange Bank's most frequently cited loan purpose was Home Purchase, with 300 originations. The 2nd most popular reason was 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 2021, Peoples Exchange Bank's most frequently cited loan duration was 30 Year, with 303 originations. The 2nd most popular length was Other, with 156 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost 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

    Peoples Exchange Bank's average total fees were $3,084, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 2.77%, while their most frequently originated rate bucket for loans was 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
    90.68%

    Peoples Exchange Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    72.42%

    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 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 5377 Main Street Clay City, KY 40312 Full Service Retail $4,059
    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

    Item Value (in 000's)
    Total interest income $18,702
    Net interest income $16,929
    Total noninterest income $3,827
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,087
    Trading account gains and fees $0
    Additional Noninterest Income $2,740
    Pre-tax net operating income $6,842
    Securities gains (or losses, -) $1
    Income before extraordinary items $5,368
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,368
    Minority interest net income $0
    Net income $5,368
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $5,367

    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.

    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 $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