Peoples Bank Mortgage Rates, Fees & Info

Lubbock, TX

LEI: 549300X7PN8KSYQHY415

Tax ID: 75-1254812

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

Jump to:

Mortgage Data

Bank Data

Review & Overview

Peoples Bank is a smaller bank specializing in Home Purchase and Refi loans. Peoples 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 two markets are Lubbock and Dallas .

Peoples 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.

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

430

Origination Dollar Volume (All Markets)

$104,540,000

Employee count

146

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
LUBBOCK, TX (FHA|USDA|VA) 356 $84,160,000 $236,404 $0 0.00%
Outside of Metro Areas 68 $18,780,000 $276,176 $0 0.00%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 6 $1,600,000 $266,667 $0 0.00%
Peoples Bank's top markets include Lubbock and Dallas among others.

Their top states include:
  • Texas (FHA|USDA|VA)
  • (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 407 $99,445,000 $244,337 $0 0.00%
    FHA 17 $3,265,000 $192,059 $0 0.00%
    VA 6 $1,830,000 $305,000 $0 0.00%

    For 2021, Peoples Bank's most frequently originated type of loan was Conventional, with 407 originations. Their 2nd most popular type was FHA, with 17 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 246 $61,310,000 $249,228 $0 0.00%
    Refi 104 $24,210,000 $232,788 $0 0.00%
    Cash Out Refi 67 $16,515,000 $246,493 $0 0.00%
    Other 11 $2,365,000 $215,000 $0 0.00%
    Home Improvement 2 $140,000 $70,000 $0 0.00%

    For 2021, Peoples Bank's most frequently cited loan purpose was Home Purchase, with 246 originations. The 2nd most popular reason was Refi, with 104 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 430 $104,540,000 $243,116 $0 0.00%

    For 2021, Peoples Bank's most frequently cited loan duration was Other, with 430 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 170 $48,000,000 $282,353 $0 0.00%
    $100k-200k 160 $23,100,000 $144,375 $0 0.00%
    $100,000 or less 46 $3,610,000 $78,478 $0 0.00%
    $400k-600k 45 $22,225,000 $493,889 $0 0.00%
    $600k-1MM 6 $4,060,000 $676,667 $0 0.00%
    $1MM+ 3 $3,545,000 $1,181,667 $0 0.00%

    2021 saw Peoples Bank place emphasis on $200k-400k loans with 170 originations, totaling $48,000,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 102 $22,370,000 $219,314 $0 0.00%
    $150k-250k 71 $21,335,000 $300,493 $0 0.00%
    $50k-75k 62 $10,790,000 $174,032 $0 0.00%
    $250k+ 60 $23,580,000 $393,000 $0 0.00%
    $75k-100k 55 $10,975,000 $199,545 $0 0.00%
    $50k or less 36 $4,770,000 $132,500 $0 0.00%

    Peoples Bank lent most frequently to those with incomes in the $100k-150k range, with 102 originations. The second most popular income band? $150k-250k, with 71 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 430 $104,540,000 $243,116 $0 0.00%

    Peoples Bank lent most frequently to those with DTI ratios of Exempt%, with 430 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 365 $89,485,000 $245,164 $0 0.00%
    Not applicable 38 $8,410,000 $221,316 $0 0.00%
    Not provided 16 $3,740,000 $233,750 $0 0.00%
    Asian 5 $1,425,000 $285,000 $0 0.00%
    American Indian 3 $915,000 $305,000 $0 0.00%
    Black 3 $565,000 $188,333 $0 0.00%

    Approval Rates

    Total approvals of all applications
    98.57%

    Peoples Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    87.91%

    Peoples Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 430 $104,540,000 $243,116

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    430 $104,540,000 $243,116

    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 Bank 201 North Washington Street Seymour, TX 76380 Full Service B&M $35,283
    Peoples Bank 101 West Hwy 86 Nazareth, TX 79063 Full Service B&M $40,170
    Peoples Bank 307 North Brazos St Whitney, TX 76692 Full Service B&M $54,426
    Peoples Bank 3801 34th Street Lubbock, TX 79424 Full Service B&M $35,680
    Peoples Bank 416 Harrison Avenue Lorenzo, TX 79343 Full Service B&M $41,573
    Peoples Bank 5820 82nd Street Lubbock, TX 79424 Full Service B&M $351,599
    Peoples Bank 615 North Broadway Street Post, TX 79356 Full Service B&M $31,091
    Peoples Bank 7503 Highway 84 Shallowater, TX 79363 Full Service B&M $36,654
    Peoples Bank 106 Southwest Avenue C Seminole, TX 79360 Full Service B&M $24,780
    Peoples Bank 11011 Quaker Avenue Lubbock, TX 79424 Full Service B&M $46,209
    Peoples Bank 112 West Highway 380 Princeton, TX 75407 Full Service B&M $44,835
    Peoples Bank 1605 West Division Street Slaton, TX 79364 Full Service B&M $55,600

    For 2021, Peoples Bank had 12 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $29,613
    Net interest income $28,591
    Total noninterest income $6,296
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,146
    Trading account gains and fees $0
    Additional Noninterest Income $5,150
    Pre-tax net operating income $13,334
    Securities gains (or losses, -) $0
    Income before extraordinary items $10,818
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $10,818
    Minority interest net income $0
    Net income $10,818
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $10,818

    Peoples Bank's gross interest income from loans was $29,613,000.
    Peoples Bank's net interest income from loans was $28,591,000.
    Peoples Bank's fee based income from loans was $1,146,000.
    Peoples Bank's net income from loans was $10,818,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,022
    Provision for credit losses $-10
    Total noninterest expense $21,563
    Salaries and employee benefits $13,139
    Premises and equipment expense $2,573
    Additional noninterest expense $5,851
    Applicable income taxes $2,516
    Net charge-offs $-2
    Cash dividends $3,827

    Peoples Bank's interest expense for loans was $1,022,000.
    Peoples Bank's payroll and benefits expense were $13,139,000.
    Peoples Bank's property, plant and equipment expenses $2,573,000.

    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 $888,620
    Deposits held in domestic offices $888,620
    Deposits by Individuals, partnerships, and corporations $813,372
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $74,849
    Deposits by Commercial banks and other depository institutions in U.S. $398
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $551,549
    Demand deposits $446,931
    Nontransaction accounts $337,070
    Money market deposit accounts (MMDAs) $122,975
    Other savings deposits (excluding MMDAs) $87,073
    Total time deposits $127,023
    Total time and savings deposits $441,688
    Noninterest-bearing deposits $283,821
    Interest-bearing deposits $604,799
    Retail deposits $855,586
    IRAs and Keogh plan accounts $11,890
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $982,868
    Cash & Balances due from depository institutions $55,709
    Interest-bearing balances $42,167
    Total securities $222,396
    Federal funds sold & reverse repurchase $156,238
    Net loans and leases $503,323
    Loan and leases loss allowance $3,841
    Trading account assets $0
    Bank premises and fixed assets $17,385
    Other real estate owned $121
    Goodwill and other intangibles $4,444
    All other assets $23,252

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $982,868
    Total Liabilities $892,278
    Total deposits $888,620
    Interest-bearing deposits $604,799
    Deposits held in domestic offices $888,620
    % insured (estimated) $70
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $3,658

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $503,323
    Loan and leases loss allowance $3,841
    Total loans and leases (domestic) $507,164
    All real estate loans $328,325
    Real estate loans in domestic offices $328,325
    Construction and development loans $85,820
    Residential 1-4 family construction $41,566
    Other construction, all land development and other land $44,254
    Loans secured by nonfarm nonresidential properties $134,955
    Nonfarm nonresidential secured by owner-occupied properties $38,962
    Commercial real estate & other non-farm, non-residential $95,993
    Multifamily residential real estate $2,263
    1-4 family residential loans $53,472
    Farmland loans $51,815
    Loans held in foreign offices $0
    Farm loans $96,250
    Commercial and industrial loans $61,824
    To non-U.S. addressees $0
    Loans to individuals $16,458
    Credit card loans $0
    Related Plans $82
    Consumer Auto Loans $5,301
    Other loans to individuals $11,075
    All other loans & leases $4,306
    Loans to foreign governments and official institutions $0
    Other loans $2,722
    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 Bank had $503,323,000 of loans outstanding in 2021. $328,325,000 of loans were in real estate loans. $85,820,000 of loans were in development loans. $2,263,000 of loans were in multifamily mortgage loans. $53,472,000 of loans were in 1-4 family mortgage loans. $96,250,000 of loans were in farm loans. $0 of loans were in credit card loans. $5,301,000 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 197 $52,471 $266,350
    Nonfarm, nonresidential loans - <$100k 43 $1,910 $44,419
    Nonfarm, nonresidential loans - $100-250k 49 $5,747 $117,286
    Nonfarm, nonresidential loans - $250k-1MM 105 $44,814 $426,800
    Commercial & Industrial, US addressed loans - <$1MM 731 $39,313 $53,780
    Commercial & Industrial, US addressed loans - <$100k 568 $13,668 $24,063
    Commercial & Industrial, US addressed loans - $100-250k 96 $9,089 $94,677
    Commercial & Industrial, US addressed loans - $250k-1MM 67 $16,556 $247,104
    Farmland loans - <$1MM 133 $20,070 $150,902
    Farmland loans - <$100k 39 $1,652 $42,359
    Farmland loans - $100-250k 58 $6,876 $118,552
    Farmland loans - $250k-1MM 36 $11,542 $320,611
    Agriculture operations loans - <$1MM 580 $37,090 $63,948
    Agriculture operations loans - <$100k 374 $9,972 $26,663
    Agriculture operations loans - $100-250k 122 $12,106 $99,230
    Agriculture operations loans - $250k-1MM 84 $15,012 $178,714