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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • 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 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, Tucson, Miami, and Indianapolis among others. We have data for 17 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.64% 12/16/24
    30 Year Conventional Refi 6.55% 12/16/24
    30 Year Cash-out Refi 6.76% 12/16/24
    30 Year FHA Purchase 7.09% 12/16/24
    15 Year Conventional Purchase 6.34% 12/16/24
    15 Year Conventional Refi 6.34% 12/16/24
    15 Year Cash-out Refi 6.34% 12/16/24
    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






    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

    563

    Origination Dollar Volume (All Markets)

    $124,945,000

    Employee count

    255

    Awards

    Peoples Bank 30 Year Conventional Loans gold Peoples Bank 30 Year Conventional Loans silver
    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) 535 $118,825,000 $222,103 $2,460 4.33%
    MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 8 $1,750,000 $218,750 $1,941 4.44%
    Outside of Metro Areas 4 $700,000 $175,000 $2,178 4.25%
    TUCSON, AZ (FHA|USDA|VA) 2 $570,000 $285,000 $3,050 3.63%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $485,000 $485,000 $4,886 4.88%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 2 $370,000 $185,000 $2,016 3.81%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $305,000 $305,000 $0 5.50%
    Ludington, MI (FHA|USDA|VA) 1 $265,000 $265,000 $2,726 4.75%
    Crossville, TN (FHA|USDA|VA) 1 $245,000 $245,000 $4,008 4.00%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $235,000 $235,000 $5,043 3.50%
    Ottawa, IL (FHA|USDA|VA) 1 $215,000 $215,000 $3,540 3.88%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $215,000 $215,000 $2,797 4.25%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $205,000 $205,000 $3,442 4.50%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $165,000 $165,000 $2,887 4.38%
    TERRE HAUTE, IN (FHA|USDA|VA) 1 $165,000 $165,000 $1,658 4.38%
    Quincy, IL-MO (FHA|USDA|VA) 1 $125,000 $125,000 $2,203 3.75%
    SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 1 $105,000 $105,000 $2,297 3.38%
    Peoples Bank's top markets include Chicago, Michigan City, Tucson, Miami, and Indianapolis among others.

    Their top states include:
  • Indiana (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Tennessee (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.

    Liberty Bank for Savings
    Similarity Rank: 85
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    UNITED
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    Similarity Rank: 513
    AMERITRUST MORTGAGE CORPORATION
    Similarity Rank: 618
    TECH Credit Union
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    Community State Bank
    Similarity Rank: 888
    The Equitable Bank, S.S.B.
    Similarity Rank: 950
    DuPage Credit Union
    Similarity Rank: 1428
    American Financial Funding Corp.
    Similarity Rank: 1565

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 561 $124,665,000 $222,219 $2,454 4.32%
    FHA 2 $280,000 $140,000 $5,953 5.13%

    For 2019, Peoples Bank's most frequently originated type of loan was Conventional, with 561 originations. Their 2nd most popular type was FHA, with 2 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 366 $83,560,000 $228,306 $2,606 4.34%
    Refi 102 $24,530,000 $240,490 $2,085 4.11%
    Cash Out Refi 77 $13,675,000 $177,597 $2,339 4.56%
    Home Improvement 18 $3,180,000 $176,667 $2,316 4.14%

    For 2019, Peoples Bank's most frequently cited loan purpose was Home Purchase, with 366 originations. The 2nd most popular reason was Refi, with 102 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 409 $92,245,000 $225,538 $2,511 4.34%
    15 Year 87 $17,105,000 $196,609 $2,429 3.84%
    10 Year 41 $9,915,000 $241,829 $1,796 5.19%
    20 Year 18 $4,710,000 $261,667 $2,465 4.09%
    5 Year 5 $55,000 $11,000 $199 5.95%
    Other 3 $915,000 $305,000 $3,156 4.00%

    For 2019, Peoples Bank's most frequently cited loan duration was 30 Year, with 409 originations. The 2nd most popular length was 15 Year, with 87 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 470 $104,280,000 $221,872
    $1k-2k 37 $5,965,000 $161,216
    $2k-3k 8 $2,690,000 $336,250
    $3k-4k 1 $315,000 $315,000
    $4k-5k 1 $175,000 $175,000
    $5k+ 1 $285,000 $285,000

    Peoples Bank's average total fees were $2,511, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 470 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 269 $67,815,000 $252,100
    4-5% 200 $43,060,000 $215,300
    5-6% 73 $11,825,000 $161,986
    6-7% 14 $870,000 $62,143
    2.5-3% 7 $1,375,000 $196,429

    During 2019, Peoples Bank's average interest rate for loans was 4.34%, while their most frequently originated rate bucket for loans was 3-4%, with 269 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 220 $32,890,000 $149,500 $2,529 4.24%
    $200k-400k 157 $43,045,000 $274,172 $2,631 4.16%
    $100,000 or less 119 $7,905,000 $66,429 $2,096 4.83%
    $400k-600k 40 $19,250,000 $481,250 $2,479 4.09%
    $600k-1MM 23 $17,065,000 $741,957 $2,323 4.05%
    $1MM+ 4 $4,790,000 $1,197,500 $3,283 4.31%

    2019 saw Peoples Bank place emphasis on $100k-200k loans with 220 originations, totaling $32,890,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 130 $19,230,000 $147,923 $2,618 4.33%
    $100k-150k 118 $27,430,000 $232,458 $2,529 4.25%
    $50k or less 80 $8,460,000 $105,750 $2,144 4.26%
    $150k-250k 77 $24,645,000 $320,065 $2,463 4.06%
    $75k-100k 74 $12,490,000 $168,784 $2,387 4.41%
    $250k+ 49 $23,835,000 $486,429 $2,569 4.00%

    Peoples Bank lent most frequently to those with incomes in the $50k-75k range, with 130 originations. The second most popular income band? $100k-150k, with 118 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 157 $34,935,000 $222,516 $2,397 4.17%
    <20% 80 $20,620,000 $257,750 $2,350 4.09%
    30-36% 77 $17,255,000 $224,091 $2,398 4.26%
    36% 28 $7,170,000 $256,071 $2,607 4.11%
    38% 23 $3,545,000 $154,130 $2,740 4.23%
    43% 21 $4,425,000 $210,714 $2,903 4.54%
    39% 19 $4,055,000 $213,421 $3,348 4.24%
    40% 18 $3,290,000 $182,778 $2,556 4.42%
    44% 18 $4,020,000 $223,333 $2,750 4.27%
    42% 15 $3,045,000 $203,000 $2,237 4.33%
    41% 14 $3,030,000 $216,429 $2,009 4.43%
    37% 13 $2,675,000 $205,769 $2,349 3.98%
    49% 10 $1,950,000 $195,000 $2,110 4.53%
    45% 10 $1,650,000 $165,000 $2,879 4.65%
    48% 6 $1,310,000 $218,333 $2,345 3.77%
    47% 4 $960,000 $240,000 $2,203 4.16%
    46% 4 $550,000 $137,500 $3,130 4.38%
    50-60% 3 $475,000 $158,333 $2,832 4.04%
    >60% 3 $95,000 $31,667 $162 5.00%

    Peoples Bank lent most frequently to those with DTI ratios of 20-30%, with 157 originations. The next most common DTI ratio? <20%, with 80 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 483 $106,845,000 $221,211 $2,460 4.23%
    Not applicable 33 $8,565,000 $259,545 $0 5.65%
    Black 31 $4,415,000 $142,419 $2,555 4.51%
    Asian 11 $3,075,000 $279,545 $2,462 4.03%
    Not provided 3 $1,195,000 $398,333 $3,137 4.21%
    Asian Indian 2 $850,000 $425,000 $2,131 3.63%

    Approval Rates

    Total approvals of all applications
    93.05%

    Peoples Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.95%

    Peoples Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 563 $124,945,000 $221,927

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 11 $6,305,000 $573,182
    Single Family (1-4 Units):Manufactured 1 $65,000 $65,000
    Single Family (1-4 Units):Site-Built 551 $118,575,000 $215,200

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 32 $4,750,000 $148,438 $2,099 4.16%
    40-60% 77 $16,345,000 $212,273 $2,346 4.11%
    60-80% 222 $55,940,000 $251,982 $2,450 4.40%
    80-100% 221 $46,715,000 $211,380 $2,643 4.30%
    Over 100% 2 $810,000 $405,000 $0 5.50%
    Under 20% 9 $385,000 $42,778 $692 5.25%

    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 Bank SB 10688 Randolph Crown Point, IN 46307 Full Service B&M $10,771
    Peoples Bank SB 11275 West 143rd Street Orland Park, IL 60467 Full Service B&M $14,892
    Peoples Bank SB 12261 Archer Ave. Lemont, IL 60439 Full Service B&M $26,538
    Peoples Bank SB 130 Rimbach Street Hammond, IN 46320 Full Service B&M $15,597
    Peoples Bank SB 1300 Sheffield Avenue Dyer, IN 46311 Full Service B&M $44,034
    Peoples Bank SB 141 W. Lincoln Highway Schererville, IN 46375 Full Service B&M $112,664
    Peoples Bank SB 14701 South Ravinia Avenue Orland Park, IL 60462 Full Service B&M $40,051
    Peoples Bank SB 14757 S Cicero Ave Midlothian, IL 60445 Full Service B&M $81,804
    Peoples Bank SB 1501 Lake Park Avenue Hobart, IN 46342 Full Service B&M $29,684
    Peoples Bank SB 1801 W. 25th Avenue Gary, IN 46404 Full Service B&M $19,177
    Peoples Bank SB 1904 Indianapolis Blvd Whiting, IN 46394 Full Service B&M $42,540
    Peoples Bank SB 2905 Calumet Avenue Valparaiso, IN 46383 Full Service B&M $31,377
    Peoples Bank SB 3927 Ridge Road Highland, IN 46322 Full Service B&M $28,974
    Peoples Bank SB 4901 Indianapolis Boulevard East Chicago, IN 46312 Full Service B&M $58,008
    Peoples Bank SB 6162 South Archer Avenue Chicago, IL 60638 Full Service B&M $58,010
    Peoples Bank SB 7120 Indianapolis Boulevard Hammond, IN 46324 Full Service B&M $45,089
    Peoples Bank SB 7915 Taft Street Merrillville, IN 46410 Full Service B&M $25,904
    Peoples Bank SB 8000 West 159th Street Orland Park, IL 60462 Full Service B&M $50,893
    Peoples Bank SB 855 Stillwater Parkway Crown Point, IN 46307 Full Service B&M $44,321
    Peoples Bank SB 8600 Broadway Avenue Merrillville, IN 46410 Full Service B&M $84,901
    Peoples Bank SB 9204 Columbia Avenue Munster, IN 46321 Full Service B&M $204,135
    Peoples Bank SB 9903 Wicker Avenue Saint John, IN 46373 Full Service B&M $57,989

    For 2019, Peoples Bank had 22 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $52,184
    Net interest income $43,092
    Total noninterest income $10,116
    Gross Fiduciary activities income $1,915
    Service charges on deposit accounts $1,679
    Trading account gains and fees $0
    Additional Noninterest Income $6,522
    Pre-tax net operating income $12,719
    Securities gains (or losses, -) $621
    Income before extraordinary items $11,498
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $11,498
    Minority interest net income $0
    Net income $11,498
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $10,963

    Peoples Bank's gross interest income from loans was $52,184,000.
    Peoples Bank's net interest income from loans was $43,092,000.
    Peoples Bank's fee based income from loans was $1,679,000.
    Peoples Bank's net income from loans was $11,498,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $9,092
    Provision for credit losses $2,584
    Total noninterest expense $37,905
    Salaries and employee benefits $19,617
    Premises and equipment expense $4,725
    Additional noninterest expense $13,563
    Applicable income taxes $1,842
    Net charge-offs $1,546
    Cash dividends $19,388

    Peoples Bank's interest expense for loans was $9,092,000.
    Peoples Bank's payroll and benefits expense were $19,617,000.
    Peoples Bank's property, plant and equipment expenses $4,725,000.

    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 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 1.0%
    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 $1,154,562
    Deposits held in domestic offices $1,154,562
    Deposits by Individuals, partnerships, and corporations $988,027
    Deposits by U.S. Government $3
    Deposits by States and political subdivisions in the U.S. $166,532
    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 $71,404
    Demand deposits $24,845
    Nontransaction accounts $1,083,158
    Money market deposit accounts (MMDAs) $219,061
    Other savings deposits (excluding MMDAs) $536,428
    Total time deposits $327,669
    Total time and savings deposits $1,129,717
    Noninterest-bearing deposits $172,285
    Interest-bearing deposits $982,276
    Retail deposits $1,098,605
    IRAs and Keogh plan accounts $45,372
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,326,463
    Cash & Balances due from depository institutions $31,519
    Interest-bearing balances $10,999
    Total securities $277,219
    Federal funds sold & reverse repurchase $15,544
    Net loans and leases $903,961
    Loan and leases loss allowance $8,999
    Trading account assets $0
    Bank premises and fixed assets $29,382
    Other real estate owned $1,083
    Goodwill and other intangibles $16,412
    All other assets $51,343

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,326,463
    Total Liabilities $1,194,234
    Total deposits $1,154,562
    Interest-bearing deposits $982,276
    Deposits held in domestic offices $1,154,562
    % insured (estimated) $71
    Federal funds purchased and repurchase agreements $11,499
    Trading liabilities $0
    Other borrowed funds $14,000
    Subordinated debt $0
    All other liabilities $14,173

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $903,961
    Loan and leases loss allowance $8,999
    Total loans and leases (domestic) $912,960
    All real estate loans $780,856
    Real estate loans in domestic offices $780,856
    Construction and development loans $87,710
    Residential 1-4 family construction $54,526
    Other construction, all land development and other land $33,184
    Loans secured by nonfarm nonresidential properties $283,108
    Nonfarm nonresidential secured by owner-occupied properties $121,854
    Commercial real estate & other non-farm, non-residential $161,254
    Multifamily residential real estate $51,286
    1-4 family residential loans $358,525
    Farmland loans $227
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $105,661
    To non-U.S. addressees $0
    Loans to individuals $10,549
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $1,101
    Other loans to individuals $9,448
    All other loans & leases $15,894
    Loans to foreign governments and official institutions $0
    Other loans $90
    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 $1,627
    Non 1-4 family restructured loans & leases $1,445
    Total loans and leases (foreign) $0

    Peoples Bank had $903,961,000 of loans outstanding in 2019. $780,856,000 of loans were in real estate loans. $87,710,000 of loans were in development loans. $51,286,000 of loans were in multifamily mortgage loans. $358,525,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $1,101,000 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 353 $93,127 $263,816
    Nonfarm, nonresidential loans - <$100k 40 $2,091 $52,275
    Nonfarm, nonresidential loans - $100-250k 113 $13,988 $123,788
    Nonfarm, nonresidential loans - $250k-1MM 200 $77,048 $385,240
    Commercial & Industrial, US addressed loans - <$1MM 333 $51,060 $153,333
    Commercial & Industrial, US addressed loans - <$100k 152 $4,970 $32,697
    Commercial & Industrial, US addressed loans - $100-250k 86 $10,572 $122,930
    Commercial & Industrial, US addressed loans - $250k-1MM 95 $35,518 $373,874
    Farmland loans - <$1MM 1 $227 $227,000
    Farmland loans - $100-250k 1 $227 $227,000