Peoples Savings Bank Mortgage Rates, Fees & Info

Indianola, IA

LEI: 549300RWHDQQ6O8UNG56

Tax ID: 42-1479004

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

Jump to:

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 two markets are Des Moines and Pella .

    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.

    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.


    Originations

    43

    Origination Dollar Volume (All Markets)

    $7,015,000

    Employee count

    63

    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) 27 $4,865,000 $180,185 $0 0.00%
    Pella, IA (FHA|USDA|VA) 9 $1,345,000 $149,444 $0 0.00%
    Outside of Metro Areas 7 $805,000 $115,000 $0 0.00%
    Peoples Savings Bank's top markets include Des Moines and Pella among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 43 $7,015,000 $163,140 $0 0.00%

    For 2021, Peoples Savings Bank's most frequently originated type of loan was Conventional, with 43 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 19 $2,295,000 $120,789 $0 0.00%
    Refi 17 $3,865,000 $227,353 $0 0.00%
    Other 4 $720,000 $180,000 $0 0.00%
    Home Improvement 3 $135,000 $45,000 $0 0.00%

    For 2021, Peoples Savings Bank's most frequently cited loan purpose was Home Purchase, with 19 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 43 $7,015,000 $163,140 $0 0.00%

    For 2021, Peoples Savings Bank's most frequently cited loan duration was Other, with 43 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 18 $1,020,000 $56,667 $0 0.00%
    $100k-200k 15 $2,115,000 $141,000 $0 0.00%
    $200k-400k 7 $1,995,000 $285,000 $0 0.00%
    $400k-600k 2 $970,000 $485,000 $0 0.00%
    $600k-1MM 1 $915,000 $915,000 $0 0.00%

    2021 saw Peoples Savings Bank place emphasis on $100,000 or less loans with 18 originations, totaling $1,020,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 8 $1,170,000 $146,250 $0 0.00%
    $50k-75k 7 $615,000 $87,857 $0 0.00%
    $50k or less 6 $450,000 $75,000 $0 0.00%
    $150k-250k 3 $905,000 $301,667 $0 0.00%
    $250k+ 3 $545,000 $181,667 $0 0.00%
    $75k-100k 3 $285,000 $95,000 $0 0.00%

    Peoples Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 8 originations. The second most popular income band? $50k-75k, with 7 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 43 $7,015,000 $163,140 $0 0.00%

    Peoples Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 43 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 29 $3,825,000 $131,897 $0 0.00%
    Not applicable 13 $3,045,000 $234,231 $0 0.00%
    Not provided 1 $145,000 $145,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    73.40%

    Peoples Savings Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    39.53%

    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 43 $7,015,000 $163,140

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    43 $7,015,000 $163,140

    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 Savings Bank 103 East Main Street Lacona, IA 50139 Full Service B&M $16,172
    Peoples Savings Bank 201 Main Street Milo, IA 50166 Full Service B&M $9,091
    Peoples Savings Bank 215 North 5th Street Seymour, IA 52590 Full Service B&M $20,496
    Peoples Savings Bank 2720 Gateway Drive Carlisle, IA 50047 Full Service B&M $54,664
    Peoples Savings Bank 400 East Iowa Avenue Indianola, IA 50125 Full Service B&M $228,448
    Peoples Savings Bank 802 West Jasper Pleasantville, IA 50225 Full Service B&M $48,302

    For 2021, Peoples Savings Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $15,345
    Net interest income $13,866
    Total noninterest income $1,065
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $259
    Trading account gains and fees $0
    Additional Noninterest Income $806
    Pre-tax net operating income $5,783
    Securities gains (or losses, -) $1,841
    Income before extraordinary items $6,025
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $6,025
    Minority interest net income $0
    Net income $6,025
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,570

    Peoples Savings Bank's gross interest income from loans was $15,345,000.
    Peoples Savings Bank's net interest income from loans was $13,866,000.
    Peoples Savings Bank's fee based income from loans was $259,000.
    Peoples Savings Bank's net income from loans was $6,025,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,479
    Provision for credit losses $220
    Total noninterest expense $8,928
    Salaries and employee benefits $5,042
    Premises and equipment expense $1,443
    Additional noninterest expense $2,443
    Applicable income taxes $1,599
    Net charge-offs $-3
    Cash dividends $750

    Peoples Savings Bank's interest expense for loans was $1,479,000.
    Peoples Savings Bank's payroll and benefits expense were $5,042,000.
    Peoples Savings Bank's property, plant and equipment expenses $1,443,000.

    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 $392,222
    Deposits held in domestic offices $392,222
    Deposits by Individuals, partnerships, and corporations $315,583
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $76,333
    Deposits by Commercial banks and other depository institutions in U.S. $306
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $239,184
    Demand deposits $104,075
    Nontransaction accounts $153,038
    Money market deposit accounts (MMDAs) $44,442
    Other savings deposits (excluding MMDAs) $45,257
    Total time deposits $63,340
    Total time and savings deposits $288,147
    Noninterest-bearing deposits $104,011
    Interest-bearing deposits $288,211
    Retail deposits $371,626
    IRAs and Keogh plan accounts $5,618
    Brokered deposits $10,729
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $456,397
    Cash & Balances due from depository institutions $5,721
    Interest-bearing balances $520
    Total securities $215,101
    Federal funds sold & reverse repurchase $0
    Net loans and leases $210,873
    Loan and leases loss allowance $3,269
    Trading account assets $0
    Bank premises and fixed assets $8,456
    Other real estate owned $0
    Goodwill and other intangibles $2,972
    All other assets $13,274

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $456,397
    Total Liabilities $409,120
    Total deposits $392,222
    Interest-bearing deposits $288,211
    Deposits held in domestic offices $392,222
    % insured (estimated) $69
    Federal funds purchased and repurchase agreements $1,758
    Trading liabilities $0
    Other borrowed funds $15,000
    Subordinated debt $0
    All other liabilities $140

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $210,873
    Loan and leases loss allowance $3,269
    Total loans and leases (domestic) $214,142
    All real estate loans $131,561
    Real estate loans in domestic offices $131,561
    Construction and development loans $29,495
    Residential 1-4 family construction $11,109
    Other construction, all land development and other land $18,386
    Loans secured by nonfarm nonresidential properties $42,278
    Nonfarm nonresidential secured by owner-occupied properties $15,810
    Commercial real estate & other non-farm, non-residential $26,468
    Multifamily residential real estate $6,045
    1-4 family residential loans $23,370
    Farmland loans $30,373
    Loans held in foreign offices $0
    Farm loans $10,490
    Commercial and industrial loans $61,174
    To non-U.S. addressees $0
    Loans to individuals $1,913
    Credit card loans $0
    Related Plans $58
    Consumer Auto Loans $778
    Other loans to individuals $1,077
    All other loans & leases $9,004
    Loans to foreign governments and official institutions $0
    Other loans $4,617
    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 $1,904
    Non 1-4 family restructured loans & leases $1,904
    Total loans and leases (foreign) $0

    Peoples Savings Bank had $210,873,000 of loans outstanding in 2021. $131,561,000 of loans were in real estate loans. $29,495,000 of loans were in development loans. $6,045,000 of loans were in multifamily mortgage loans. $23,370,000 of loans were in 1-4 family mortgage loans. $10,490,000 of loans were in farm loans. $0 of loans were in credit card loans. $778,000 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 112 $25,605 $228,616
    Nonfarm, nonresidential loans - <$100k 36 $1,621 $45,028
    Nonfarm, nonresidential loans - $100-250k 31 $4,290 $138,387
    Nonfarm, nonresidential loans - $250k-1MM 45 $19,694 $437,644
    Commercial & Industrial, US addressed loans - <$1MM 223 $18,228 $81,740
    Commercial & Industrial, US addressed loans - <$100k 139 $3,042 $21,885
    Commercial & Industrial, US addressed loans - $100-250k 47 $4,320 $91,915
    Commercial & Industrial, US addressed loans - $250k-1MM 37 $10,866 $293,676
    Farmland loans - <$1MM 125 $20,874 $166,992
    Farmland loans - <$100k 41 $2,048 $49,951
    Farmland loans - $100-250k 47 $6,966 $148,213
    Farmland loans - $250k-1MM 37 $11,860 $320,541
    Agriculture operations loans - <$1MM 202 $7,503 $37,144
    Agriculture operations loans - <$100k 165 $3,531 $21,400
    Agriculture operations loans - $100-250k 28 $2,222 $79,357
    Agriculture operations loans - $250k-1MM 9 $1,750 $194,444