Peoples Bank Of East Tennessee Mortgage Rates, Fees & Info

Madisonville, TN

LEI: 549300Z52CLXKDXGPH16

Tax ID: 62-1663360

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Mortgage Data

Bank Data

Review & Overview

Peoples Bank Of East Tennessee is a smaller bank specializing in Home Purchase and Refi loans. Peoples Bank Of East Tennessee has a high proportion of conventional loans. Their top markets by origination volume include: Knoxville, Athens, Cleveland, Atlanta, and Sevierville among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

Peoples Bank Of East Tennessee 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.

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Originations

114

Origination Dollar Volume (All Markets)

$16,990,000

Employee count

86

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
Outside of Metro Areas 68 $8,790,000 $129,265 $0 0.00%
KNOXVILLE, TN (FHA|USDA|VA) 21 $4,345,000 $206,905 $0 0.00%
Athens, TN (FHA|USDA|VA) 11 $1,615,000 $146,818 $0 0.00%
CLEVELAND, TN (FHA|USDA|VA) 7 $665,000 $95,000 $0 0.00%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $485,000 $485,000 $0 0.00%
Sevierville, TN (FHA|USDA|VA) 3 $455,000 $151,667 $0 0.00%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $355,000 $355,000 $0 0.00%
PANAMA CITY, FL (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
Dayton, TN (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%
Peoples Bank Of East Tennessee's top markets include Knoxville, Athens, Cleveland, Atlanta, and Sevierville among others.

Their top states include:
  • Tennessee (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 114 $16,990,000 $149,035 $0 0.00%

    For 2019, Peoples Bank Of East Tennessee's most frequently originated type of loan was Conventional, with 114 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 59 $10,585,000 $179,407 $0 0.00%
    Refi 47 $6,015,000 $127,979 $0 0.00%
    Other 6 $320,000 $53,333 $0 0.00%
    Home Improvement 1 $25,000 $25,000 $0 0.00%
    Cash Out Refi 1 $45,000 $45,000 $0 0.00%

    For 2019, Peoples Bank Of East Tennessee's most frequently cited loan purpose was Home Purchase, with 59 originations. The 2nd most popular reason was Refi, with 47 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 114 $16,990,000 $149,035 $0 0.00%

    For 2019, Peoples Bank Of East Tennessee's most frequently cited loan duration was Other, with 114 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 60 $3,300,000 $55,000 $0 0.00%
    $100k-200k 29 $4,005,000 $138,103 $0 0.00%
    $200k-400k 16 $4,450,000 $278,125 $0 0.00%
    $400k-600k 7 $3,475,000 $496,429 $0 0.00%
    $1MM+ 1 $1,155,000 $1,155,000 $0 0.00%
    $600k-1MM 1 $605,000 $605,000 $0 0.00%

    2019 saw Peoples Bank Of East Tennessee place emphasis on $100,000 or less loans with 60 originations, totaling $3,300,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 27 $1,905,000 $70,556 $0 0.00%
    $50k-75k 20 $1,650,000 $82,500 $0 0.00%
    $100k-150k 11 $2,095,000 $190,455 $0 0.00%
    $250k+ 9 $3,545,000 $393,889 $0 0.00%
    $75k-100k 9 $1,035,000 $115,000 $0 0.00%
    $150k-250k 7 $1,255,000 $179,286 $0 0.00%

    Peoples Bank Of East Tennessee lent most frequently to those with incomes in the $50k or less range, with 27 originations. The second most popular income band? $50k-75k, with 20 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 114 $16,990,000 $149,035 $0 0.00%

    Peoples Bank Of East Tennessee lent most frequently to those with DTI ratios of Exempt%, with 114 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 101 $15,055,000 $149,059 $0 0.00%
    Not applicable 12 $1,740,000 $145,000 $0 0.00%
    Asian 1 $195,000 $195,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.25%

    Peoples Bank Of East Tennessee has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.84%

    Peoples Bank Of East Tennessee has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 114 $16,990,000 $149,035

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $225,000 $225,000
    Multifamily:Site-Built 4 $1,110,000 $277,500
    Single Family (1-4 Units):Manufactured 16 $800,000 $50,000
    Single Family (1-4 Units):Site-Built 93 $14,855,000 $159,731

    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 of East Tennessee 1010 Highway 411 Vonore, TN 37885 Full Service B&M $13,719
    Peoples Bank of East Tennessee 105 Five Points Drive Ducktown, TN 37326 Full Service B&M $27,591
    Peoples Bank of East Tennessee 109 Blue Ridge Drive Mc Caysville, GA 30555 Full Service B&M $12,386
    Peoples Bank of East Tennessee 117 Monroe St Sweetwater, TN 37874 Full Service B&M $23,078
    Peoples Bank of East Tennessee 2270 Highway 72 North Loudon, TN 37774 Full Service B&M $10,729
    Peoples Bank of East Tennessee 4511 Ushwy 411 Madisonville, TN 37354 Full Service B&M $72,939
    Peoples Bank of East Tennessee 9 West Willson Street Niota, TN 37826 Full Service B&M $11,676
    Peoples Bank of East Tennessee 904 Tellico Street Madisonville, TN 37354 Full Service B&M $3,039
    Peoples Bank of East Tennessee 9186 New Highway 68 Tellico Plains, TN 37385 Full Service B&M $17,268

    For 2019, Peoples Bank Of East Tennessee had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $10,830
    Net interest income $10,134
    Total noninterest income $2,301
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,113
    Trading account gains and fees $0
    Additional Noninterest Income $1,188
    Pre-tax net operating income $3,386
    Securities gains (or losses, -) $34
    Income before extraordinary items $2,811
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,811
    Minority interest net income $0
    Net income $2,811
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,783

    Peoples Bank Of East Tennessee's gross interest income from loans was $10,830,000.
    Peoples Bank Of East Tennessee's net interest income from loans was $10,134,000.
    Peoples Bank Of East Tennessee's fee based income from loans was $1,113,000.
    Peoples Bank Of East Tennessee's net income from loans was $2,811,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $696
    Provision for credit losses $425
    Total noninterest expense $8,624
    Salaries and employee benefits $5,073
    Premises and equipment expense $785
    Additional noninterest expense $2,766
    Applicable income taxes $609
    Net charge-offs $98
    Cash dividends $1,325

    Peoples Bank Of East Tennessee's interest expense for loans was $696,000.
    Peoples Bank Of East Tennessee's payroll and benefits expense were $5,073,000.
    Peoples Bank Of East Tennessee's property, plant and equipment expenses $785,000.

    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 3.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 1.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $196,617
    Deposits held in domestic offices $196,617
    Deposits by Individuals, partnerships, and corporations $187,245
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $9,371
    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 $105,433
    Demand deposits $54,152
    Nontransaction accounts $91,183
    Money market deposit accounts (MMDAs) $9,042
    Other savings deposits (excluding MMDAs) $29,187
    Total time deposits $52,955
    Total time and savings deposits $142,464
    Noninterest-bearing deposits $57,804
    Interest-bearing deposits $138,813
    Retail deposits $189,286
    IRAs and Keogh plan accounts $16,193
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $224,830
    Cash & Balances due from depository institutions $9,508
    Interest-bearing balances $6,438
    Total securities $36,142
    Federal funds sold & reverse repurchase $0
    Net loans and leases $164,387
    Loan and leases loss allowance $1,740
    Trading account assets $0
    Bank premises and fixed assets $6,797
    Other real estate owned $1,562
    Goodwill and other intangibles $103
    All other assets $6,331

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $224,830
    Total Liabilities $198,774
    Total deposits $196,617
    Interest-bearing deposits $138,813
    Deposits held in domestic offices $196,617
    % insured (estimated) $90
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $2,157

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $164,387
    Loan and leases loss allowance $1,740
    Total loans and leases (domestic) $166,127
    All real estate loans $146,101
    Real estate loans in domestic offices $146,101
    Construction and development loans $20,008
    Residential 1-4 family construction $8,999
    Other construction, all land development and other land $11,009
    Loans secured by nonfarm nonresidential properties $39,430
    Nonfarm nonresidential secured by owner-occupied properties $18,406
    Commercial real estate & other non-farm, non-residential $21,024
    Multifamily residential real estate $4,851
    1-4 family residential loans $80,200
    Farmland loans $1,612
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $11,611
    To non-U.S. addressees $0
    Loans to individuals $8,165
    Credit card loans $0
    Related Plans $274
    Consumer Auto Loans $2,741
    Other loans to individuals $5,150
    All other loans & leases $250
    Loans to foreign governments and official institutions $0
    Other loans $210
    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 $424
    Non 1-4 family restructured loans & leases $424
    Total loans and leases (foreign) $0

    Peoples Bank of East Tennessee had $164,387,000 of loans outstanding in 2019. $146,101,000 of loans were in real estate loans. $20,008,000 of loans were in development loans. $4,851,000 of loans were in multifamily mortgage loans. $80,200,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $2,741,000 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 153 $30,508 $199,399
    Nonfarm, nonresidential loans - <$100k 51 $1,314 $25,765
    Nonfarm, nonresidential loans - $100-250k 48 $6,611 $137,729
    Nonfarm, nonresidential loans - $250k-1MM 54 $22,583 $418,204
    Commercial & Industrial, US addressed loans - <$1MM 299 $8,845 $29,582
    Commercial & Industrial, US addressed loans - <$100k 272 $5,658 $20,801
    Commercial & Industrial, US addressed loans - $100-250k 17 $1,489 $87,588
    Commercial & Industrial, US addressed loans - $250k-1MM 10 $1,698 $169,800
    Farmland loans - <$1MM 34 $1,612 $47,412
    Farmland loans - <$100k 27 $825 $30,556
    Farmland loans - $100-250k 7 $787 $112,429