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, and Ames among others. We have data for 4 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

    81

    Origination Dollar Volume (All Markets)

    $9,525,000

    Employee count

    58

    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) 53 $6,465,000 $121,981 $0 0.00%
    Outside of Metro Areas 17 $2,175,000 $127,941 $0 0.00%
    Pella, IA (FHA|USDA|VA) 10 $660,000 $66,000 $0 0.00%
    AMES, IA (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
    Peoples Savings Bank's top markets include Des Moines, Pella, and Ames among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 81 $9,525,000 $117,593 $0 0.00%

    For 2019, Peoples Savings Bank's most frequently originated type of loan was Conventional, with 81 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 44 $5,770,000 $131,136 $0 0.00%
    Refi 17 $2,555,000 $150,294 $0 0.00%
    Home Improvement 11 $425,000 $38,636 $0 0.00%
    Other 9 $775,000 $86,111 $0 0.00%

    For 2019, Peoples Savings Bank's most frequently cited loan purpose was Home Purchase, with 44 originations. The 2nd most popular reason was Refi, with 17 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 81 $9,525,000 $117,593 $0 0.00%

    For 2019, Peoples Savings Bank's most frequently cited loan duration was Other, with 81 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 47 $2,315,000 $49,255 $0 0.00%
    $200k-400k 19 $4,905,000 $258,158 $0 0.00%
    $100k-200k 15 $2,305,000 $153,667 $0 0.00%

    2019 saw Peoples Savings Bank place emphasis on $100,000 or less loans with 47 originations, totaling $2,315,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 24 $2,600,000 $108,333 $0 0.00%
    $100k-150k 17 $2,515,000 $147,941 $0 0.00%
    $50k or less 15 $1,175,000 $78,333 $0 0.00%
    $75k-100k 11 $1,275,000 $115,909 $0 0.00%
    $150k-250k 5 $605,000 $121,000 $0 0.00%
    $250k+ 3 $575,000 $191,667 $0 0.00%

    Peoples Savings Bank lent most frequently to those with incomes in the $50k-75k range, with 24 originations. The second most popular income band? $100k-150k, with 17 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 81 $9,525,000 $117,593 $0 0.00%

    Peoples Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 81 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 73 $8,405,000 $115,137 $0 0.00%
    Not applicable 6 $780,000 $130,000 $0 0.00%
    Not provided 2 $340,000 $170,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    81.06%

    Peoples Savings Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    67.90%

    Peoples Savings Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 81 $9,525,000 $117,593

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $285,000 $285,000
    Single Family (1-4 Units):Manufactured 1 $15,000 $15,000
    Single Family (1-4 Units):Site-Built 79 $9,225,000 $116,772

    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 Savings Bank 103 East Main Street Lacona, IA 50139 Full Service B&M $10,270
    Peoples Savings Bank 201 Main Street Milo, IA 50166 Full Service B&M $7,201
    Peoples Savings Bank 215 North 5th Street Seymour, IA 52590 Full Service B&M $7,798
    Peoples Savings Bank 2720 Gateway Drive Carlisle, IA 50047 Full Service B&M $28,421
    Peoples Savings Bank 400 East Iowa Avenue Indianola, IA 50125 Full Service B&M $160,957
    Peoples Savings Bank 802 West Jasper Pleasantville, IA 50225 Full Service B&M $38,830

    For 2019, Peoples Savings Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $12,342
    Net interest income $9,728
    Total noninterest income $1,464
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $317
    Trading account gains and fees $0
    Additional Noninterest Income $1,147
    Pre-tax net operating income $2,939
    Securities gains (or losses, -) $269
    Income before extraordinary items $2,603
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,603
    Minority interest net income $0
    Net income $2,603
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,385

    Peoples Savings Bank's gross interest income from loans was $12,342,000.
    Peoples Savings Bank's net interest income from loans was $9,728,000.
    Peoples Savings Bank's fee based income from loans was $317,000.
    Peoples Savings Bank's net income from loans was $2,603,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,614
    Provision for credit losses $1,450
    Total noninterest expense $6,803
    Salaries and employee benefits $3,940
    Premises and equipment expense $1,114
    Additional noninterest expense $1,749
    Applicable income taxes $605
    Net charge-offs $881
    Cash dividends $0

    Peoples Savings Bank's interest expense for loans was $2,614,000.
    Peoples Savings Bank's payroll and benefits expense were $3,940,000.
    Peoples Savings Bank's property, plant and equipment expenses $1,114,000.

    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 3.0%
    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 $283,536
    Deposits held in domestic offices $283,536
    Deposits by Individuals, partnerships, and corporations $213,385
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $67,674
    Deposits by Commercial banks and other depository institutions in U.S. $2,477
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $146,674
    Demand deposits $68,717
    Nontransaction accounts $136,862
    Money market deposit accounts (MMDAs) $21,982
    Other savings deposits (excluding MMDAs) $32,304
    Total time deposits $82,576
    Total time and savings deposits $214,819
    Noninterest-bearing deposits $68,679
    Interest-bearing deposits $214,857
    Retail deposits $251,444
    IRAs and Keogh plan accounts $5,324
    Brokered deposits $10,000
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $326,024
    Cash & Balances due from depository institutions $19,773
    Interest-bearing balances $12,720
    Total securities $82,425
    Federal funds sold & reverse repurchase $16,333
    Net loans and leases $190,351
    Loan and leases loss allowance $2,539
    Trading account assets $0
    Bank premises and fixed assets $6,019
    Other real estate owned $100
    Goodwill and other intangibles $3,033
    All other assets $7,990

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $326,024
    Total Liabilities $294,138
    Total deposits $283,536
    Interest-bearing deposits $214,857
    Deposits held in domestic offices $283,536
    % insured (estimated) $71
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $10,000
    Subordinated debt $0
    All other liabilities $602

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $190,351
    Loan and leases loss allowance $2,539
    Total loans and leases (domestic) $192,890
    All real estate loans $115,680
    Real estate loans in domestic offices $115,680
    Construction and development loans $15,667
    Residential 1-4 family construction $5,924
    Other construction, all land development and other land $9,743
    Loans secured by nonfarm nonresidential properties $31,858
    Nonfarm nonresidential secured by owner-occupied properties $11,701
    Commercial real estate & other non-farm, non-residential $20,157
    Multifamily residential real estate $7,456
    1-4 family residential loans $28,322
    Farmland loans $32,377
    Loans held in foreign offices $0
    Farm loans $11,444
    Commercial and industrial loans $48,214
    To non-U.S. addressees $0
    Loans to individuals $2,651
    Credit card loans $0
    Related Plans $79
    Consumer Auto Loans $1,235
    Other loans to individuals $1,337
    All other loans & leases $14,901
    Loans to foreign governments and official institutions $0
    Other loans $7,553
    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 $190,351,000 of loans outstanding in 2019. $115,680,000 of loans were in real estate loans. $15,667,000 of loans were in development loans. $7,456,000 of loans were in multifamily mortgage loans. $28,322,000 of loans were in 1-4 family mortgage loans. $11,444,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,235,000 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 99 $20,246 $204,505
    Nonfarm, nonresidential loans - <$100k 32 $1,272 $39,750
    Nonfarm, nonresidential loans - $100-250k 26 $3,143 $120,885
    Nonfarm, nonresidential loans - $250k-1MM 41 $15,831 $386,122
    Commercial & Industrial, US addressed loans - <$1MM 216 $19,834 $91,824
    Commercial & Industrial, US addressed loans - <$100k 144 $3,329 $23,118
    Commercial & Industrial, US addressed loans - $100-250k 32 $3,798 $118,688
    Commercial & Industrial, US addressed loans - $250k-1MM 40 $12,707 $317,675
    Farmland loans - <$1MM 130 $20,595 $158,423
    Farmland loans - <$100k 45 $2,372 $52,711
    Farmland loans - $100-250k 52 $8,078 $155,346
    Farmland loans - $250k-1MM 33 $10,145 $307,424
    Agriculture operations loans - <$1MM 192 $7,165 $37,318
    Agriculture operations loans - <$100k 160 $3,501 $21,881
    Agriculture operations loans - $100-250k 26 $2,277 $87,577
    Agriculture operations loans - $250k-1MM 6 $1,387 $231,167