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, Nashville, and Crossville among others. We have data for 7 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 an above average pick rate when compared to similar lenders.

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Originations

141

Origination Dollar Volume (All Markets)

$22,405,000

Employee count

88

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 83 $12,955,000 $156,084 $0 0.00%
KNOXVILLE, TN (FHA|USDA|VA) 28 $5,740,000 $205,000 $0 0.00%
Athens, TN (FHA|USDA|VA) 18 $1,830,000 $101,667 $0 0.00%
CLEVELAND, TN (FHA|USDA|VA) 9 $665,000 $73,889 $0 0.00%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $465,000 $465,000 $0 0.00%
Crossville, TN (FHA|USDA|VA) 1 $435,000 $435,000 $0 0.00%
Sevierville, TN (FHA|USDA|VA) 1 $315,000 $315,000 $0 0.00%
Peoples Bank Of East Tennessee's top markets include Knoxville, Athens, Cleveland, Nashville, and Crossville among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 141 $22,405,000 $158,901 $0 0.00%

    For 2020, Peoples Bank Of East Tennessee's most frequently originated type of loan was Conventional, with 141 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 68 $12,960,000 $190,588 $0 0.00%
    Refi 64 $9,120,000 $142,500 $0 0.00%
    Other 5 $155,000 $31,000 $0 0.00%
    Home Improvement 4 $170,000 $42,500 $0 0.00%

    For 2020, Peoples Bank Of East Tennessee's most frequently cited loan purpose was Home Purchase, with 68 originations. The 2nd most popular reason was Refi, with 64 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 141 $22,405,000 $158,901 $0 0.00%

    For 2020, Peoples Bank Of East Tennessee's most frequently cited loan duration was Other, with 141 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 72 $4,050,000 $56,250 $0 0.00%
    $100k-200k 39 $5,715,000 $146,538 $0 0.00%
    $200k-400k 20 $5,430,000 $271,500 $0 0.00%
    $400k-600k 6 $2,880,000 $480,000 $0 0.00%
    $1MM+ 2 $2,680,000 $1,340,000 $0 0.00%
    $600k-1MM 2 $1,650,000 $825,000 $0 0.00%

    2020 saw Peoples Bank Of East Tennessee place emphasis on $100,000 or less loans with 72 originations, totaling $4,050,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 43 $3,235,000 $75,233 $0 0.00%
    $50k-75k 29 $3,275,000 $112,931 $0 0.00%
    $75k-100k 16 $2,060,000 $128,750 $0 0.00%
    $100k-150k 12 $2,230,000 $185,833 $0 0.00%
    $150k-250k 10 $2,940,000 $294,000 $0 0.00%
    $250k+ 6 $1,730,000 $288,333 $0 0.00%

    Peoples Bank Of East Tennessee lent most frequently to those with incomes in the $50k or less range, with 43 originations. The second most popular income band? $50k-75k, with 29 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 141 $22,405,000 $158,901 $0 0.00%

    Peoples Bank Of East Tennessee lent most frequently to those with DTI ratios of Exempt%, with 141 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 124 $16,670,000 $134,435 $0 0.00%
    Not applicable 15 $5,635,000 $375,667 $0 0.00%
    Black 2 $100,000 $50,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.09%

    Peoples Bank Of East Tennessee 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
    90.07%

    Peoples Bank Of East Tennessee has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 141 $22,405,000 $158,901

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $1,190,000 $297,500
    Single Family (1-4 Units):Manufactured 38 $2,800,000 $73,684
    Single Family (1-4 Units):Site-Built 99 $18,415,000 $186,010

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Peoples Home Equity, Inc. VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    Peoples Home Equity, Inc. VA mortgage Trouble during payment process 1 50.0%

    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 $18,990
    Peoples Bank of East Tennessee 105 Five Points Drive Ducktown, TN 37326 Full Service B&M $30,051
    Peoples Bank of East Tennessee 109 Blue Ridge Drive Mc Caysville, GA 30555 Full Service B&M $15,884
    Peoples Bank of East Tennessee 117 Monroe St Sweetwater, TN 37874 Full Service B&M $30,095
    Peoples Bank of East Tennessee 2270 Highway 72 North Loudon, TN 37774 Full Service B&M $12,072
    Peoples Bank of East Tennessee 4511 Ushwy 411 Madisonville, TN 37354 Full Service B&M $82,761
    Peoples Bank of East Tennessee 9 West Willson Street Niota, TN 37826 Full Service B&M $14,727
    Peoples Bank of East Tennessee 904 Tellico Street Madisonville, TN 37354 Full Service B&M $3,453
    Peoples Bank of East Tennessee 9186 New Highway 68 Tellico Plains, TN 37385 Full Service B&M $20,800

    For 2020, Peoples Bank Of East Tennessee had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $11,243
    Net interest income $10,515
    Total noninterest income $2,175
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,003
    Trading account gains and fees $0
    Additional Noninterest Income $1,172
    Pre-tax net operating income $3,618
    Securities gains (or losses, -) $0
    Income before extraordinary items $2,991
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,991
    Minority interest net income $0
    Net income $2,991
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,991

    Peoples Bank Of East Tennessee's gross interest income from loans was $11,243,000.
    Peoples Bank Of East Tennessee's net interest income from loans was $10,515,000.
    Peoples Bank Of East Tennessee's fee based income from loans was $1,003,000.
    Peoples Bank Of East Tennessee's net income from loans was $2,991,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $728
    Provision for credit losses $527
    Total noninterest expense $8,545
    Salaries and employee benefits $4,973
    Premises and equipment expense $815
    Additional noninterest expense $2,757
    Applicable income taxes $627
    Net charge-offs $294
    Cash dividends $100

    Peoples Bank Of East Tennessee's interest expense for loans was $728,000.
    Peoples Bank Of East Tennessee's payroll and benefits expense were $4,973,000.
    Peoples Bank Of East Tennessee's property, plant and equipment expenses $815,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 1.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 4.0%
    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 $252,670
    Deposits held in domestic offices $252,670
    Deposits by Individuals, partnerships, and corporations $237,218
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $15,453
    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 $149,339
    Demand deposits $77,420
    Nontransaction accounts $103,332
    Money market deposit accounts (MMDAs) $10,344
    Other savings deposits (excluding MMDAs) $38,217
    Total time deposits $54,769
    Total time and savings deposits $175,251
    Noninterest-bearing deposits $86,485
    Interest-bearing deposits $166,185
    Retail deposits $243,910
    IRAs and Keogh plan accounts $16,429
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $287,265
    Cash & Balances due from depository institutions $49,520
    Interest-bearing balances $46,197
    Total securities $43,400
    Federal funds sold & reverse repurchase $0
    Net loans and leases $178,130
    Loan and leases loss allowance $1,973
    Trading account assets $0
    Bank premises and fixed assets $8,612
    Other real estate owned $1,146
    Goodwill and other intangibles $44
    All other assets $6,413

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $287,265
    Total Liabilities $257,379
    Total deposits $252,670
    Interest-bearing deposits $166,185
    Deposits held in domestic offices $252,670
    % insured (estimated) $84
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $2,248
    Subordinated debt $0
    All other liabilities $2,461

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $178,130
    Loan and leases loss allowance $1,973
    Total loans and leases (domestic) $180,103
    All real estate loans $156,431
    Real estate loans in domestic offices $156,431
    Construction and development loans $25,458
    Residential 1-4 family construction $11,517
    Other construction, all land development and other land $13,941
    Loans secured by nonfarm nonresidential properties $40,356
    Nonfarm nonresidential secured by owner-occupied properties $19,414
    Commercial real estate & other non-farm, non-residential $20,942
    Multifamily residential real estate $4,414
    1-4 family residential loans $83,828
    Farmland loans $2,375
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $15,677
    To non-U.S. addressees $0
    Loans to individuals $7,831
    Credit card loans $0
    Related Plans $289
    Consumer Auto Loans $2,590
    Other loans to individuals $4,952
    All other loans & leases $164
    Loans to foreign governments and official institutions $0
    Other loans $129
    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 $189
    Non 1-4 family restructured loans & leases $168
    Total loans and leases (foreign) $0

    Peoples Bank of East Tennessee had $178,130,000 of loans outstanding in 2020. $156,431,000 of loans were in real estate loans. $25,458,000 of loans were in development loans. $4,414,000 of loans were in multifamily mortgage loans. $83,828,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $2,590,000 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 150 $31,857 $212,380
    Nonfarm, nonresidential loans - <$100k 40 $1,443 $36,075
    Nonfarm, nonresidential loans - $100-250k 53 $6,830 $128,868
    Nonfarm, nonresidential loans - $250k-1MM 57 $23,584 $413,754
    Commercial & Industrial, US addressed loans - <$1MM 554 $14,623 $26,395
    Commercial & Industrial, US addressed loans - <$100k 518 $9,251 $17,859
    Commercial & Industrial, US addressed loans - $100-250k 26 $2,448 $94,154
    Commercial & Industrial, US addressed loans - $250k-1MM 10 $2,924 $292,400
    Farmland loans - <$1MM 33 $2,374 $71,939
    Farmland loans - <$100k 24 $963 $40,125
    Farmland loans - $100-250k 8 $1,043 $130,375
    Farmland loans - $250k-1MM 1 $368 $368,000