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 and Refi loans. Peoples Bank has a high proportion of conventional loans. Their top markets by origination volume include: Chicago, Nashville, Kankakee, Michigan City, and Ottawa among others. We have data for 31 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%	4/28/24
30 Year Conventional Refi	6.55%	4/28/24
30 Year Cash-out Refi	6.76%	4/28/24
30 Year FHA Purchase	7.09%	4/28/24
15 Year Conventional Purchase	6.34%	4/28/24
15 Year Conventional Refi	6.34%	4/28/24
15 Year Cash-out Refi	6.34%	4/28/24
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

918

Origination Dollar Volume (All Markets)

$249,030,000

Employee count

263

Awards

Peoples Bank 30 Year Conventional Loans bronze

Show all (1) 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)	854	$233,820,000	$273,794	$2,919	3.12%
Outside of Metro Areas	12	$2,060,000	$171,667	$2,393	2.95%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA\|USDA\|VA)	1	$1,905,000	$1,905,000	$8,569	2.99%
KANKAKEE, IL (FHA\|USDA\|VA)	6	$1,320,000	$220,000	$2,118	3.10%
MICHIGAN CITY-LA PORTE, IN (FHA\|USDA\|VA)	12	$1,300,000	$108,333	$2,475	3.32%
Ottawa, IL (FHA\|USDA\|VA)	4	$750,000	$187,500	$3,026	3.00%
Warsaw, IN (FHA\|USDA\|VA)	2	$740,000	$370,000	$2,355	2.56%
North Port-Sarasota-Bradenton, FL (FHA\|USDA\|VA)	2	$700,000	$350,000	$4,161	3.94%
Heber, UT (FHA\|USDA\|VA)	1	$545,000	$545,000	$3,792	3.00%
Dallas-Fort Worth-Arlington, TX (FHA\|USDA\|VA)	1	$545,000	$545,000	$7,827	2.38%
DENVER-AURORA-LAKEWOOD, CO (FHA\|USDA\|VA)	1	$525,000	$525,000	$4,716	2.88%
Detroit-Warren-Dearborn, MI (FHA\|USDA\|VA)	1	$475,000	$475,000	$2,917	2.88%
SOUTH BEND-MISHAWAKA, IN-MI (FHA\|USDA\|VA)	1	$445,000	$445,000	$2,087	3.13%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA\|USDA\|VA)	1	$435,000	$435,000	$3,337	3.13%
New York-Newark-Jersey City, NY-NJ-PA (FHA\|USDA\|VA)	1	$395,000	$395,000	$1,549	3.13%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA\|USDA\|VA)	1	$295,000	$295,000	$4,173	3.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA\|USDA\|VA)	2	$290,000	$145,000	$2,908	2.56%
CAPE CORAL-FORT MYERS, FL (FHA\|USDA\|VA)	2	$290,000	$145,000	$2,428	2.31%
CINCINNATI, OH-KY-IN (FHA\|USDA\|VA)	1	$265,000	$265,000	$3,218	3.00%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA\|USDA\|VA)	1	$255,000	$255,000	$2,775	2.75%
NILES, MI (FHA\|USDA\|VA)	1	$235,000	$235,000	$2,270	2.25%
Branson, MO (FHA\|USDA\|VA)	1	$195,000	$195,000	$1,902	2.88%
MUNCIE, IN (FHA\|USDA\|VA)	1	$175,000	$175,000	$0	3.75%
Searcy, AR (FHA\|USDA\|VA)	1	$165,000	$165,000	$2,148	2.50%
GRAND JUNCTION, CO (FHA\|USDA\|VA)	1	$155,000	$155,000	$2,429	3.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA\|USDA\|VA)	1	$145,000	$145,000	$2,214	2.75%
ROCKFORD, IL (FHA\|USDA\|VA)	1	$145,000	$145,000	$2,556	3.50%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA\|USDA\|VA)	1	$135,000	$135,000	$2,860	2.63%
TERRE HAUTE, IN (FHA\|USDA\|VA)	1	$125,000	$125,000	$2,280	2.75%
BLOOMINGTON, IN (FHA\|USDA\|VA)	1	$115,000	$115,000	$2,441	2.25%
PITTSBURGH, PA (FHA\|USDA\|VA)	1	$85,000	$85,000	$0	3.25%

Peoples Bank's top markets include Chicago, Nashville, Kankakee, Michigan City, and Ottawa among others.

Their top states include:

Indiana (FHA|USDA|VA)

Illinois (FHA|USDA|VA)

Tennessee (FHA|USDA|VA)

Michigan (FHA|USDA|VA)

Florida (FHA|USDA|VA)

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Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	918	$249,030,000	$271,275	$2,911	3.11%

For 2021, Peoples Bank's most frequently originated type of loan was Conventional, with 918 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	448	$154,700,000	$345,313	$3,562	3.23%
Refi	255	$52,655,000	$206,490	$2,268	2.83%
Cash Out Refi	196	$38,640,000	$197,143	$2,404	3.17%
Other	12	$2,250,000	$187,500	$2,330	2.86%
Home Improvement	7	$785,000	$112,143	$1,806	4.43%

For 2021, Peoples Bank's most frequently cited loan purpose was Home Purchase, with 448 originations. The 2nd most popular reason was Refi, with 255 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	619	$177,655,000	$287,003	$3,108	3.17%
15 Year	172	$34,940,000	$203,140	$2,486	2.62%
10 Year	69	$22,835,000	$330,942	$2,026	3.86%
20 Year	55	$10,495,000	$190,818	$2,357	2.97%
5 Year	2	$180,000	$90,000	$0	4.13%
3 Year	1	$2,925,000	$2,925,000	$0	3.75%

For 2021, Peoples Bank's most frequently cited loan duration was 30 Year, with 619 originations. The 2nd most popular length was 15 Year, with 172 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	651	$152,465,000	$234,201
$1k-2k	90	$27,680,000	$307,556
$2k-3k	32	$14,680,000	$458,750
$3k-4k	21	$15,025,000	$715,476
$5k+	6	$6,540,000	$1,090,000
$4k-5k	2	$670,000	$335,000

Peoples Bank's average total fees were $3,108, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 651 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
2.5-3%	412	$124,920,000	$303,204
3-4%	318	$86,460,000	$271,887
<2.5%	114	$23,260,000	$204,035
4-5%	68	$13,810,000	$203,088
5-6%	5	$565,000	$113,000
7-8%	1	$15,000	$15,000

During 2021, Peoples Bank's average interest rate for loans was 3.17%, while their most frequently originated rate bucket for loans was 2.5-3%, with 412 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	326	$49,250,000	$151,074	$2,448	3.07%
$200k-400k	300	$82,840,000	$276,133	$2,812	3.04%
$100,000 or less	121	$8,915,000	$73,678	$2,204	3.36%
$400k-600k	121	$58,425,000	$482,851	$3,770	3.06%
$600k-1MM	38	$27,720,000	$729,474	$5,201	3.21%
$1MM+	12	$21,880,000	$1,823,333	$10,351	3.30%

2021 saw Peoples Bank place emphasis on $100k-200k loans with 326 originations, totaling $49,250,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	199	$51,585,000	$259,221	$3,098	3.11%
$50k-75k	180	$30,060,000	$167,000	$2,417	3.05%
$150k-250k	147	$49,925,000	$339,626	$3,125	2.94%
$75k-100k	144	$31,860,000	$221,250	$2,724	3.05%
$50k or less	108	$12,790,000	$118,426	$2,387	3.09%
$250k+	78	$46,550,000	$596,795	$4,507	2.94%

Peoples Bank lent most frequently to those with incomes in the $100k-150k range, with 199 originations. The second most popular income band? $50k-75k, with 180 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	250	$59,710,000	$238,840	$2,720	2.96%
30-36%	189	$50,605,000	$267,751	$3,035	3.15%
<20%	118	$31,730,000	$268,898	$2,826	2.80%
36%	35	$9,575,000	$273,571	$2,983	2.95%
38%	33	$10,785,000	$326,818	$3,118	3.24%
37%	31	$7,555,000	$243,710	$2,750	3.23%
40%	27	$8,755,000	$324,259	$3,482	2.98%
43%	25	$6,405,000	$256,200	$3,013	3.13%
39%	25	$5,995,000	$239,800	$2,751	3.11%
44%	25	$6,265,000	$250,600	$2,868	3.37%
42%	23	$5,195,000	$225,870	$2,792	3.30%
41%	21	$5,685,000	$270,714	$3,653	3.07%
45%	17	$4,015,000	$236,176	$3,156	3.08%
46%	11	$2,625,000	$238,636	$3,013	3.05%
47%	8	$1,630,000	$203,750	$2,601	2.92%
48%	8	$2,340,000	$292,500	$3,562	3.08%
49%	8	$1,670,000	$208,750	$2,731	2.91%
50-60%	8	$3,720,000	$465,000	$3,020	2.84%

Peoples Bank lent most frequently to those with DTI ratios of 20-30%, with 250 originations. The next most common DTI ratio? 30-36%, with 189 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	788	$202,020,000	$256,371	$2,847	3.04%
Not applicable	51	$23,745,000	$465,588	$0	4.21%
Asian	24	$11,010,000	$458,750	$4,942	2.97%
Black	33	$7,305,000	$221,364	$3,027	3.24%
Not provided	21	$4,605,000	$219,286	$2,752	3.02%
Asian Indian	1	$345,000	$345,000	$2,695	2.50%

Approval Rates

Total approvals of all applications
90.21%

Peoples Bank has an average approval rate.

Pick Rate

Approvals leading to origination
82.57%

Peoples Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	918	$249,030,000	$271,275

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	918	$249,030,000	$271,275

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	68	$9,070,000	$133,382	$2,261	2.90%
40-60%	184	$37,940,000	$206,196	$2,350	2.86%
60-80%	399	$121,405,000	$304,273	$2,945	3.23%
80-100%	258	$80,040,000	$310,233	$3,432	3.14%
Over 100%	1	$75,000	$75,000	$0	4.25%
Under 20%	8	$500,000	$62,500	$1,848	3.31%

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	10688 Randolph Crown Point, IN 46307	Full Service B&M	$21,562
Peoples Bank	11275 West 143rd Street Orland Park, IL 60467	Full Service B&M	$20,758
Peoples Bank	12261 Archer Ave. Lemont, IL 60439	Full Service B&M	$33,073
Peoples Bank	130 Rimbach Street Hammond, IN 46320	Full Service B&M	$30,337
Peoples Bank	1300 Sheffield Avenue Dyer, IN 46311	Full Service B&M	$54,698
Peoples Bank	141 W. Lincoln Highway Schererville, IN 46375	Full Service B&M	$148,199
Peoples Bank	14701 South Ravinia Avenue Orland Park, IL 60462	Full Service B&M	$62,254
Peoples Bank	14757 S Cicero Ave Midlothian, IL 60445	Full Service B&M	$78,026
Peoples Bank	1501 Lake Park Avenue Hobart, IN 46342	Full Service B&M	$37,951
Peoples Bank	1801 W. 25th Avenue Gary, IN 46404	Full Service B&M	$12,308
Peoples Bank	1904 Indianapolis Blvd Whiting, IN 46394	Full Service B&M	$45,360
Peoples Bank	2905 Calumet Avenue Valparaiso, IN 46383	Full Service B&M	$45,296
Peoples Bank	3927 Ridge Road Highland, IN 46322	Full Service B&M	$42,696
Peoples Bank	4901 Indianapolis Boulevard East Chicago, IN 46312	Full Service B&M	$69,580
Peoples Bank	6162 South Archer Avenue Chicago, IL 60638	Full Service B&M	$70,335
Peoples Bank	7120 Indianapolis Boulevard Hammond, IN 46324	Full Service B&M	$43,573
Peoples Bank	7915 Taft Street Merrillville, IN 46410	Full Service B&M	$39,371
Peoples Bank	8000 West 159th Street Orland Park, IL 60462	Full Service B&M	$67,379
Peoples Bank	855 Stillwater Parkway Crown Point, IN 46307	Full Service B&M	$54,775
Peoples Bank	8600 Broadway Avenue Merrillville, IN 46410	Full Service B&M	$134,097
Peoples Bank	9204 Columbia Avenue Munster, IN 46321	Full Service B&M	$208,451
Peoples Bank	9903 Wicker Avenue Saint John, IN 46373	Full Service B&M	$75,020

For 2021, Peoples Bank had 22 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$50,629
Net interest income	$48,549
Total noninterest income	$14,026
Gross Fiduciary activities income	$2,375
Service charges on deposit accounts	$1,373
Trading account gains and fees	$0
Additional Noninterest Income	$10,278
Pre-tax net operating income	$13,804
Securities gains (or losses, -)	$1,987
Income before extraordinary items	$14,293
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$14,293
Minority interest net income	$0
Net income	$14,293
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$12,484

Peoples Bank's gross interest income from loans was $50,629,000.
Peoples Bank's net interest income from loans was $48,549,000.
Peoples Bank's fee based income from loans was $1,373,000.
Peoples Bank's net income from loans was $14,293,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$2,080
Provision for credit losses	$1,509
Total noninterest expense	$47,262
Salaries and employee benefits	$24,241
Premises and equipment expense	$5,662
Additional noninterest expense	$17,359
Applicable income taxes	$1,498
Net charge-offs	$624
Cash dividends	$4,880

Peoples Bank's interest expense for loans was $2,080,000.
Peoples Bank's payroll and benefits expense were $24,241,000.
Peoples Bank's property, plant and equipment expenses $5,662,000.

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	1.0%
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	$1,435,383
Deposits held in domestic offices	$1,435,383
Deposits by Individuals, partnerships, and corporations	$1,247,290
Deposits by U.S. Government	$24
Deposits by States and political subdivisions in the U.S.	$188,069
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	$118,425
Demand deposits	$57,352
Nontransaction accounts	$1,316,958
Money market deposit accounts (MMDAs)	$271,970
Other savings deposits (excluding MMDAs)	$805,771
Total time deposits	$239,218
Total time and savings deposits	$1,378,031
Noninterest-bearing deposits	$296,477
Interest-bearing deposits	$1,138,907
Retail deposits	$1,399,501
IRAs and Keogh plan accounts	$40,700
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$1,618,578
Cash & Balances due from depository institutions	$32,188
Interest-bearing balances	$19,986
Total securities	$526,489
Federal funds sold & reverse repurchase	$464
Net loans and leases	$958,364
Loan and leases loss allowance	$13,343
Trading account assets	$0
Bank premises and fixed assets	$31,298
Other real estate owned	$0
Goodwill and other intangibles	$15,375
All other assets	$54,400

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$1,618,578
Total Liabilities	$1,464,711
Total deposits	$1,435,383
Interest-bearing deposits	$1,138,907
Deposits held in domestic offices	$1,435,383
% insured (estimated)	$69
Federal funds purchased and repurchase agreements	$14,581
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$14,747

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$958,364
Loan and leases loss allowance	$13,343
Total loans and leases (domestic)	$971,707
All real estate loans	$801,450
Real estate loans in domestic offices	$801,450
Construction and development loans	$123,822
Residential 1-4 family construction	$68,204
Other construction, all land development and other land	$55,618
Loans secured by nonfarm nonresidential properties	$317,145
Nonfarm nonresidential secured by owner-occupied properties	$130,094
Commercial real estate & other non-farm, non-residential	$187,051
Multifamily residential real estate	$61,194
1-4 family residential loans	$299,289
Farmland loans	$0
Loans held in foreign offices	$0
Farm loans	$0
Commercial and industrial loans	$114,839
To non-U.S. addressees	$0
Loans to individuals	$46,286
Credit card loans	$0
Related Plans	$0
Consumer Auto Loans	$338
Other loans to individuals	$45,948
All other loans & leases	$9,132
Loans to foreign governments and official institutions	$0
Other loans	$141
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	$801
Non 1-4 family restructured loans & leases	$418
Total loans and leases (foreign)	$0

Peoples Bank had $958,364,000 of loans outstanding in 2021. $801,450,000 of loans were in real estate loans. $123,822,000 of loans were in development loans. $61,194,000 of loans were in multifamily mortgage loans. $299,289,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $338,000 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	365	$104,127	$285,279
Nonfarm, nonresidential loans - <$100k	38	$2,132	$56,105
Nonfarm, nonresidential loans - $100-250k	128	$17,194	$134,328
Nonfarm, nonresidential loans - $250k-1MM	199	$84,801	$426,136
Commercial & Industrial, US addressed loans - <$1MM	473	$55,565	$117,474
Commercial & Industrial, US addressed loans - <$100k	307	$17,553	$57,176
Commercial & Industrial, US addressed loans - $100-250k	99	$13,633	$137,707
Commercial & Industrial, US addressed loans - $250k-1MM	67	$24,379	$363,866