Peoples Bank Mortgage Rates, Fees & Info

Munster, IN

LEI: 549300Y7HCU10KIRLG30

Tax ID: 35-0576197

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

Review & Overview

Peoples Bank is a smaller bank specializing in Home Purchase 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 markets by origination volume include: Chicago, Michigan City, Seneca, Naples, and Indianapolis among others. We have data for 24 markets. (Some data included below & more in-depth data is available with an active subscription.)

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. Peoples 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	6.64%	4/18/24
30 Year Conventional Refi	6.55%	4/18/24
30 Year Cash-out Refi	6.76%	4/18/24
30 Year FHA Purchase	7.09%	4/18/24
15 Year Conventional Purchase	6.34%	4/18/24
15 Year Conventional Refi	6.34%	4/18/24
15 Year Cash-out Refi	6.34%	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 Bank Mortgage Calculator

Purchase Price:

Loan Amount:

Deposit Amount:

% Deposit:

Interest Rate:

Loan Type:

Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Peoples 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

497

Origination Dollar Volume (All Markets)

$95,945,000

Employee count

226

Awards

Peoples Bank 30 Year Conventional Loans gold

Peoples Bank 30 Year Conventional Loans bronze

Show all (2) 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
Chicago-Naperville-Elgin, IL-IN-WI (FHA\|USDA\|VA)	459	$90,175,000	$196,460	$2,516	4.75%
MICHIGAN CITY-LA PORTE, IN (FHA\|USDA\|VA)	7	$1,235,000	$176,429	$1,839	4.61%
Seneca, SC (FHA\|USDA\|VA)	1	$1,025,000	$1,025,000	$4,755	4.38%
NAPLES-MARCO ISLAND, FL (FHA\|USDA\|VA)	1	$625,000	$625,000	$6,546	4.88%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA\|USDA\|VA)	3	$515,000	$171,667	$2,262	4.83%
CAPE CORAL-FORT MYERS, FL (FHA\|USDA\|VA)	2	$300,000	$150,000	$2,564	4.69%
KANKAKEE, IL (FHA\|USDA\|VA)	1	$245,000	$245,000	$4,256	4.00%
Sturgis, MI (FHA\|USDA\|VA)	1	$235,000	$235,000	$2,479	4.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA\|USDA\|VA)	1	$215,000	$215,000	$2,702	5.00%
Outside of Metro Areas	3	$195,000	$65,000	$0	6.25%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA\|USDA\|VA)	1	$175,000	$175,000	$3,561	5.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA\|USDA\|VA)	4	$170,000	$42,500	$947	7.00%
COLUMBIA, MO (FHA\|USDA\|VA)	1	$115,000	$115,000	$1,969	4.13%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA\|USDA\|VA)	1	$115,000	$115,000	$0	6.75%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA\|USDA\|VA)	1	$105,000	$105,000	$3,105	3.88%
PHOENIX-MESA-CHANDLER, AZ (FHA\|USDA\|VA)	1	$105,000	$105,000	$3,961	4.38%
Mount Vernon, IL (FHA\|USDA\|VA)	1	$95,000	$95,000	$2,769	4.88%
READING, PA (FHA\|USDA\|VA)	1	$85,000	$85,000	$0	6.99%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA\|USDA\|VA)	2	$60,000	$30,000	$891	8.87%
GREELEY, CO (FHA\|USDA\|VA)	1	$55,000	$55,000	$0	8.40%
GRAND RAPIDS-KENTWOOD, MI (FHA\|USDA\|VA)	1	$25,000	$25,000	$0	6.50%
Detroit-Warren-Dearborn, MI (FHA\|USDA\|VA)	1	$25,000	$25,000	$0	7.24%
TOLEDO, OH (FHA\|USDA\|VA)	1	$25,000	$25,000	$0	6.60%
YORK-HANOVER, PA (FHA\|USDA\|VA)	1	$25,000	$25,000	$0	7.00%

Peoples Bank's top markets include Chicago, Michigan City, Seneca, Naples, and Indianapolis among others.

Their top states include:

Indiana (FHA|USDA|VA)

Illinois (FHA|USDA|VA)

Florida (FHA|USDA|VA)

South Carolina (FHA|USDA|VA)

Michigan (FHA|USDA|VA)

Similar Lenders

We use machine learning to identify the top lenders compared against Peoples Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

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Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	482	$93,000,000	$192,946	$2,371	4.82%
FHA	15	$2,945,000	$196,333	$6,734	4.85%

For 2018, Peoples Bank's most frequently originated type of loan was Conventional, with 482 originations. Their 2nd most popular type was FHA, with 15 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	369	$74,975,000	$203,184	$2,688	4.80%
Refi	66	$11,260,000	$170,606	$1,692	4.93%
Cash Out Refi	52	$7,620,000	$146,538	$2,320	4.84%
Home Improvement	10	$2,090,000	$209,000	$2,162	4.71%

For 2018, Peoples Bank's most frequently cited loan purpose was Home Purchase, with 369 originations. The 2nd most popular reason was Refi, with 66 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	335	$72,755,000	$217,179	$2,708	4.69%
15 Year	71	$9,235,000	$130,070	$2,313	4.63%
10 Year	45	$8,905,000	$197,889	$1,456	5.37%
Other	21	$2,015,000	$95,952	$354	5.51%
20 Year	18	$2,290,000	$127,222	$2,010	5.45%
5 Year	6	$520,000	$86,667	$111	5.58%
1 Year	1	$225,000	$225,000	$0	6.00%

For 2018, Peoples Bank's most frequently cited loan duration was 30 Year, with 335 originations. The 2nd most popular length was 15 Year, with 71 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	392	$78,210,000	$199,515
$1k-2k	33	$5,225,000	$158,333
$2k-3k	2	$440,000	$220,000
$3k-4k	1	$245,000	$245,000
$5k+	1	$365,000	$365,000

Peoples Bank's average total fees were $2,708, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 392 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
4-5%	295	$63,575,000	$215,508
5-6%	116	$17,940,000	$154,655
3-4%	54	$12,230,000	$226,481
6-7%	26	$1,970,000	$75,769
7-8%	3	$115,000	$38,333
Over 8%	3	$115,000	$38,333

During 2018, Peoples Bank's average interest rate for loans was 4.69%, while their most frequently originated rate bucket for loans was 4-5%, with 295 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	164	$23,170,000	$141,280	$2,429	4.69%
$100,000 or less	161	$9,675,000	$60,093	$1,870	5.26%
$200k-400k	126	$34,530,000	$274,048	$3,244	4.53%
$400k-600k	26	$12,120,000	$466,154	$2,416	4.53%
$600k-1MM	15	$10,865,000	$724,333	$3,257	4.51%
$1MM+	5	$5,585,000	$1,117,000	$3,589	5.00%

2018 saw Peoples Bank place emphasis on $100k-200k loans with 164 originations, totaling $23,170,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	121	$16,745,000	$138,388	$2,524	4.83%
$50k or less	104	$9,580,000	$92,115	$1,924	4.88%
$100k-150k	80	$16,600,000	$207,500	$2,989	4.64%
$150k-250k	59	$19,475,000	$330,085	$2,512	4.58%
$75k-100k	56	$9,720,000	$173,571	$3,032	4.83%
$250k+	32	$14,490,000	$452,813	$2,514	4.47%

Peoples Bank lent most frequently to those with incomes in the $50k-75k range, with 121 originations. The second most popular income band? $50k or less, with 104 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	112	$21,760,000	$194,286	$2,289	4.68%
30-36%	90	$17,850,000	$198,333	$2,477	4.71%
<20%	67	$15,165,000	$226,343	$2,399	4.58%
42%	21	$3,975,000	$189,286	$2,700	4.83%
39%	18	$4,290,000	$238,333	$2,700	4.54%
43%	16	$3,260,000	$203,750	$2,787	4.95%
37%	15	$2,095,000	$139,667	$2,796	5.09%
38%	14	$1,990,000	$142,143	$2,400	5.47%
41%	12	$1,620,000	$135,000	$2,457	4.76%
44%	11	$2,255,000	$205,000	$3,300	4.56%
36%	10	$1,740,000	$174,000	$3,354	4.90%
40%	10	$1,390,000	$139,000	$2,354	4.87%
45%	9	$1,425,000	$158,333	$2,741	4.50%
49%	9	$1,155,000	$128,333	$2,428	4.79%
47%	8	$1,770,000	$221,250	$2,976	4.67%
46%	7	$1,175,000	$167,857	$2,688	4.57%
48%	6	$880,000	$146,667	$2,363	4.90%
50-60%	6	$1,220,000	$203,333	$5,947	4.77%
>60%	5	$515,000	$103,000	$621	5.10%

Peoples Bank lent most frequently to those with DTI ratios of 20-30%, with 112 originations. The next most common DTI ratio? 30-36%, with 90 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	395	$76,705,000	$194,190	$2,472	4.71%
Not applicable	41	$8,725,000	$212,805	$0	5.56%
Black	30	$3,850,000	$128,333	$3,033	5.07%
Asian	12	$3,730,000	$310,833	$2,988	4.71%
Not provided	13	$2,045,000	$157,308	$2,390	5.31%
American Indian	3	$585,000	$195,000	$2,793	4.96%
Other Asian	1	$155,000	$155,000	$1,972	4.00%
Asian Indian	1	$105,000	$105,000	$2,210	4.63%
Native Hawaiian or Islander	1	$45,000	$45,000	$2,113	5.25%

Approval Rates

Total approvals of all applications
92.48%

Peoples Bank has an average approval rate.

Pick Rate

Approvals leading to origination
83.10%

Peoples Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
1200.0	1	$85,000	$85,000
1775.0	1	$35,000	$35,000
3155.0	1	$115,000	$115,000
749.0	10	$350,000	$35,000
NA	484	$95,360,000	$197,025

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	11	$5,545,000	$504,091
Single Family (1-4 Units):Manufactured	22	$1,180,000	$53,636
Single Family (1-4 Units):Site-Built	464	$89,220,000	$192,284

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	28	$2,060,000	$73,571	$1,900	4.70%
40-60%	55	$8,285,000	$150,636	$2,438	4.60%
60-80%	215	$45,695,000	$212,535	$2,488	4.89%
80-100%	175	$36,165,000	$206,657	$2,870	4.78%
Over 100%	5	$1,765,000	$353,000	$2,002	4.53%
Under 20%	17	$1,775,000	$104,412	$601	5.25%

Complaints

Bank Name	Product	Issue	2018 CPFB Complaints	% of Total Issues
Peoples Home Equity, Inc.	Conventional home mortgage	Closing on a mortgage	2	50.0%
Peoples Home Equity, Inc.	FHA mortgage	Applying for a mortgage or refinancing an existing mortgage	1	25.0%
Peoples Home Equity, Inc.	Other type of mortgage	Closing on a mortgage	1	25.0%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Peoples Bank SB	10688 Randolph Crown Point, IN 46307	Full Service B&M	$7,267
Peoples Bank SB	130 Rimbach Street Hammond, IN 46320	Full Service B&M	$16,405
Peoples Bank SB	1300 Sheffield Avenue Dyer, IN 46311	Full Service B&M	$47,260
Peoples Bank SB	141 W. Lincoln Highway Schererville, IN 46375	Full Service B&M	$97,292
Peoples Bank SB	1501 Lake Park Avenue Hobart, IN 46342	Full Service B&M	$29,913
Peoples Bank SB	1801 W. 25th Avenue Gary, IN 46404	Full Service B&M	$18,356
Peoples Bank SB	1904 Indianapolis Blvd Whiting, IN 46394	Full Service B&M	$42,766
Peoples Bank SB	2905 Calumet Avenue Valparaiso, IN 46383	Full Service B&M	$24,151
Peoples Bank SB	3927 Ridge Road Highland, IN 46322	Full Service B&M	$29,723
Peoples Bank SB	4901 Indianapolis Boulevard East Chicago, IN 46312	Full Service B&M	$62,929
Peoples Bank SB	7120 Indianapolis Boulevard Hammond, IN 46324	Full Service B&M	$41,190
Peoples Bank SB	7915 Taft Street Merrillville, IN 46410	Full Service B&M	$27,332
Peoples Bank SB	855 Stillwater Parkway Crown Point, IN 46307	Full Service B&M	$40,151
Peoples Bank SB	8600 Broadway Avenue Merrillville, IN 46410	Full Service B&M	$74,461
Peoples Bank SB	9204 Columbia Avenue Munster, IN 46321	Full Service B&M	$186,558
Peoples Bank SB	9903 Wicker Avenue Saint John, IN 46373	Full Service B&M	$57,817

For 2018, Peoples Bank had 16 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$39,412
Net interest income	$34,414
Total noninterest income	$7,980
Gross Fiduciary activities income	$1,696
Service charges on deposit accounts	$1,604
Trading account gains and fees	$0
Additional Noninterest Income	$4,680
Pre-tax net operating income	$9,203
Securities gains (or losses, -)	$1,200
Income before extraordinary items	$8,887
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$8,887
Minority interest net income	$0
Net income	$8,887
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$7,867

Peoples Bank's gross interest income from loans was $39,412,000.
Peoples Bank's net interest income from loans was $34,414,000.
Peoples Bank's fee based income from loans was $1,604,000.
Peoples Bank's net income from loans was $8,887,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$4,998
Provision for credit losses	$1,308
Total noninterest expense	$31,883
Salaries and employee benefits	$16,412
Premises and equipment expense	$4,012
Additional noninterest expense	$11,459
Applicable income taxes	$1,516
Net charge-offs	$828
Cash dividends	$12,330

Peoples Bank's interest expense for loans was $4,998,000.
Peoples Bank's payroll and benefits expense were $16,412,000.
Peoples Bank's property, plant and equipment expenses $4,012,000.

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	2.0%
HELOC loans	0.0%
All other family	2.0%
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	$926,735
Deposits held in domestic offices	$926,735
Deposits by Individuals, partnerships, and corporations	$768,283
Deposits by U.S. Government	$43
Deposits by States and political subdivisions in the U.S.	$158,409
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	$60,474
Demand deposits	$30,773
Nontransaction accounts	$866,261
Money market deposit accounts (MMDAs)	$168,727
Other savings deposits (excluding MMDAs)	$438,694
Total time deposits	$258,841
Total time and savings deposits	$895,962
Noninterest-bearing deposits	$145,166
Interest-bearing deposits	$781,569
Retail deposits	$882,480
IRAs and Keogh plan accounts	$33,006
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$1,093,760
Cash & Balances due from depository institutions	$15,337
Interest-bearing balances	$3,614
Total securities	$241,769
Federal funds sold & reverse repurchase	$762
Net loans and leases	$759,301
Loan and leases loss allowance	$7,962
Trading account assets	$0
Bank premises and fixed assets	$24,767
Other real estate owned	$1,627
Goodwill and other intangibles	$11,861
All other assets	$38,336

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$1,093,760
Total Liabilities	$995,070
Total deposits	$926,735
Interest-bearing deposits	$781,569
Deposits held in domestic offices	$926,735
% insured (estimated)	$71
Federal funds purchased and repurchase agreements	$11,628
Trading liabilities	$0
Other borrowed funds	$43,000
Subordinated debt	$0
All other liabilities	$13,707

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$759,301
Loan and leases loss allowance	$7,962
Total loans and leases (domestic)	$767,263
All real estate loans	$639,383
Real estate loans in domestic offices	$639,383
Construction and development loans	$64,432
Residential 1-4 family construction	$47,246
Other construction, all land development and other land	$17,186
Loans secured by nonfarm nonresidential properties	$252,892
Nonfarm nonresidential secured by owner-occupied properties	$116,056
Commercial real estate & other non-farm, non-residential	$136,836
Multifamily residential real estate	$47,244
1-4 family residential loans	$274,575
Farmland loans	$240
Loans held in foreign offices	$0
Farm loans	$0
Commercial and industrial loans	$100,645
To non-U.S. addressees	$0
Loans to individuals	$5,959
Credit card loans	$0
Related Plans	$0
Consumer Auto Loans	$1,042
Other loans to individuals	$4,917
All other loans & leases	$21,276
Loans to foreign governments and official institutions	$0
Other loans	$175
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	$1,906
Non 1-4 family restructured loans & leases	$1,308
Total loans and leases (foreign)	$0

Peoples Bank had $759,301,000 of loans outstanding in 2018. $639,383,000 of loans were in real estate loans. $64,432,000 of loans were in development loans. $47,244,000 of loans were in multifamily mortgage loans. $274,575,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $1,042,000 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	332	$80,997	$243,967
Nonfarm, nonresidential loans - <$100k	43	$2,208	$51,349
Nonfarm, nonresidential loans - $100-250k	114	$14,678	$128,754
Nonfarm, nonresidential loans - $250k-1MM	175	$64,111	$366,349
Commercial & Industrial, US addressed loans - <$1MM	338	$50,143	$148,352
Commercial & Industrial, US addressed loans - <$100k	157	$5,637	$35,904
Commercial & Industrial, US addressed loans - $100-250k	82	$10,021	$122,207
Commercial & Industrial, US addressed loans - $250k-1MM	99	$34,485	$348,333
Farmland loans - <$1MM	1	$240	$240,000
Farmland loans - $100-250k	1	$240	$240,000