Peoples Savings Bank Mortgage Rates, Fees & Info

Indianola, IA

LEI: 549300RWHDQQ6O8UNG56

Tax ID: 42-1479004

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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 Savings Bank is a smaller bank specializing in Home Purchase and Refi loans. Peoples Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Des Moines, Pella, Ames, and Omaha among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Peoples Savings 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.

    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.

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    Originations

    77

    Origination Dollar Volume (All Markets)

    $10,735,000

    Employee count

    54

    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
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 48 $5,460,000 $113,750 $0 0.00%
    Outside of Metro Areas 7 $3,145,000 $449,286 $0 0.00%
    Pella, IA (FHA|USDA|VA) 20 $1,890,000 $94,500 $0 0.00%
    AMES, IA (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
    Peoples Savings Bank's top markets include Des Moines, Pella, Ames, and Omaha among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 77 $10,735,000 $139,416 $0 0.00%

    For 2018, Peoples Savings Bank's most frequently originated type of loan was Conventional, with 77 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 37 $5,415,000 $146,351 $0 0.00%
    Refi 20 $4,640,000 $232,000 $0 0.00%
    Home Improvement 17 $495,000 $29,118 $0 0.00%
    Other 3 $185,000 $61,667 $0 0.00%

    For 2018, Peoples Savings Bank's most frequently cited loan purpose was Home Purchase, with 37 originations. The 2nd most popular reason was Refi, with 20 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 77 $10,735,000 $139,416 $0 0.00%

    For 2018, Peoples Savings Bank's most frequently cited loan duration was Other, with 77 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 45 $2,095,000 $46,556 $0 0.00%
    $100k-200k 18 $2,430,000 $135,000 $0 0.00%
    $200k-400k 11 $2,975,000 $270,455 $0 0.00%
    $400k-600k 2 $830,000 $415,000 $0 0.00%
    $1MM+ 1 $2,405,000 $2,405,000 $0 0.00%

    2018 saw Peoples Savings Bank place emphasis on $100,000 or less loans with 45 originations, totaling $2,095,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 19 $1,675,000 $88,158 $0 0.00%
    $100k-150k 14 $1,400,000 $100,000 $0 0.00%
    $75k-100k 12 $1,230,000 $102,500 $0 0.00%
    $150k-250k 9 $1,015,000 $112,778 $0 0.00%
    $50k-75k 9 $825,000 $91,667 $0 0.00%
    $250k+ 2 $750,000 $375,000 $0 0.00%

    Peoples Savings Bank lent most frequently to those with incomes in the $50k or less range, with 19 originations. The second most popular income band? $100k-150k, with 14 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 77 $10,735,000 $139,416 $0 0.00%

    Peoples Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 77 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 58 $6,100,000 $105,172 $0 0.00%
    Not applicable 11 $3,795,000 $345,000 $0 0.00%
    Not provided 8 $840,000 $105,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    80.87%

    Peoples Savings Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    79.22%

    Peoples Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 77 $10,735,000 $139,416

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $2,500,000 $1,250,000
    Single Family (1-4 Units):Manufactured 4 $440,000 $110,000
    Single Family (1-4 Units):Site-Built 71 $7,795,000 $109,789

    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 Savings Bank 103 East Main Street Lacona, IA 50139 Full Service B&M $9,039
    Peoples Savings Bank 201 Main Street Milo, IA 50166 Full Service B&M $7,028
    Peoples Savings Bank 215 North 5th Street Seymour, IA 52590 Full Service B&M $954
    Peoples Savings Bank 2720 Gateway Drive Carlisle, IA 50047 Full Service B&M $21,823
    Peoples Savings Bank 400 East Iowa Avenue Indianola, IA 50125 Full Service B&M $160,409
    Peoples Savings Bank 802 West Jasper Pleasantville, IA 50225 Full Service B&M $36,181

    For 2018, Peoples Savings Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $10,241
    Net interest income $8,524
    Total noninterest income $1,409
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $319
    Trading account gains and fees $0
    Additional Noninterest Income $1,090
    Pre-tax net operating income $3,428
    Securities gains (or losses, -) $-4
    Income before extraordinary items $2,951
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,951
    Minority interest net income $0
    Net income $2,951
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,954

    Peoples Savings Bank's gross interest income from loans was $10,241,000.
    Peoples Savings Bank's net interest income from loans was $8,524,000.
    Peoples Savings Bank's fee based income from loans was $319,000.
    Peoples Savings Bank's net income from loans was $2,951,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,717
    Provision for credit losses $360
    Total noninterest expense $6,145
    Salaries and employee benefits $3,385
    Premises and equipment expense $1,071
    Additional noninterest expense $1,689
    Applicable income taxes $473
    Net charge-offs $101
    Cash dividends $0

    Peoples Savings Bank's interest expense for loans was $1,717,000.
    Peoples Savings Bank's payroll and benefits expense were $3,385,000.
    Peoples Savings Bank's property, plant and equipment expenses $1,071,000.

    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 $261,315
    Deposits held in domestic offices $261,315
    Deposits by Individuals, partnerships, and corporations $206,556
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $54,758
    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 $128,509
    Demand deposits $63,128
    Nontransaction accounts $132,805
    Money market deposit accounts (MMDAs) $26,833
    Other savings deposits (excluding MMDAs) $33,302
    Total time deposits $72,670
    Total time and savings deposits $198,186
    Noninterest-bearing deposits $63,099
    Interest-bearing deposits $198,216
    Retail deposits $232,138
    IRAs and Keogh plan accounts $5,655
    Brokered deposits $5,000
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $288,802
    Cash & Balances due from depository institutions $14,552
    Interest-bearing balances $6,907
    Total securities $86,284
    Federal funds sold & reverse repurchase $7,916
    Net loans and leases $164,556
    Loan and leases loss allowance $1,970
    Trading account assets $0
    Bank premises and fixed assets $5,964
    Other real estate owned $100
    Goodwill and other intangibles $3,063
    All other assets $6,367

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $288,802
    Total Liabilities $262,223
    Total deposits $261,315
    Interest-bearing deposits $198,216
    Deposits held in domestic offices $261,315
    % insured (estimated) $71
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $908

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $164,556
    Loan and leases loss allowance $1,970
    Total loans and leases (domestic) $166,526
    All real estate loans $97,069
    Real estate loans in domestic offices $97,069
    Construction and development loans $7,786
    Residential 1-4 family construction $2,577
    Other construction, all land development and other land $5,209
    Loans secured by nonfarm nonresidential properties $33,458
    Nonfarm nonresidential secured by owner-occupied properties $15,453
    Commercial real estate & other non-farm, non-residential $18,005
    Multifamily residential real estate $8,029
    1-4 family residential loans $25,588
    Farmland loans $22,208
    Loans held in foreign offices $0
    Farm loans $15,508
    Commercial and industrial loans $38,570
    To non-U.S. addressees $0
    Loans to individuals $2,623
    Credit card loans $3
    Related Plans $91
    Consumer Auto Loans $1,153
    Other loans to individuals $1,376
    All other loans & leases $12,755
    Loans to foreign governments and official institutions $0
    Other loans $5,603
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Peoples Savings Bank had $164,556,000 of loans outstanding in 2018. $97,069,000 of loans were in real estate loans. $7,786,000 of loans were in development loans. $8,029,000 of loans were in multifamily mortgage loans. $25,588,000 of loans were in 1-4 family mortgage loans. $15,508,000 of loans were in farm loans. $3,000 of loans were in credit card loans. $1,153,000 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 96 $19,518 $203,313
    Nonfarm, nonresidential loans - <$100k 26 $1,083 $41,654
    Nonfarm, nonresidential loans - $100-250k 29 $3,602 $124,207
    Nonfarm, nonresidential loans - $250k-1MM 41 $14,833 $361,780
    Commercial & Industrial, US addressed loans - <$1MM 183 $14,166 $77,410
    Commercial & Industrial, US addressed loans - <$100k 128 $2,946 $23,016
    Commercial & Industrial, US addressed loans - $100-250k 28 $3,524 $125,857
    Commercial & Industrial, US addressed loans - $250k-1MM 27 $7,696 $285,037
    Farmland loans - <$1MM 97 $13,036 $134,392
    Farmland loans - <$100k 36 $1,760 $48,889
    Farmland loans - $100-250k 43 $6,377 $148,302
    Farmland loans - $250k-1MM 18 $4,899 $272,167
    Agriculture operations loans - <$1MM 162 $7,934 $48,975
    Agriculture operations loans - <$100k 127 $2,996 $23,591
    Agriculture operations loans - $100-250k 28 $3,243 $115,821
    Agriculture operations loans - $250k-1MM 7 $1,695 $242,143