Peoples Bank Of East Tennessee Mortgage Rates, Fees & Info

Madisonville, TN

LEI: 549300Z52CLXKDXGPH16

Tax ID: 62-1663360

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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 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, Sevierville, Cleveland, and Nashville 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.

    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.

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    Originations

    123

    Origination Dollar Volume (All Markets)

    $21,705,000

    Employee count

    99

    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 59 $8,575,000 $145,339 $0 0.00%
    KNOXVILLE, TN (FHA|USDA|VA) 35 $8,555,000 $244,429 $0 0.00%
    Athens, TN (FHA|USDA|VA) 14 $2,000,000 $142,857 $0 0.00%
    Sevierville, TN (FHA|USDA|VA) 3 $955,000 $318,333 $0 0.00%
    CLEVELAND, TN (FHA|USDA|VA) 8 $830,000 $103,750 $0 0.00%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $455,000 $455,000 $0 0.00%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
    Somerset, KY (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
    Crossville, TN (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
    Peoples Bank Of East Tennessee's top markets include Knoxville, Athens, Sevierville, Cleveland, and Nashville among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 123 $21,705,000 $176,463 $0 0.00%

    For 2021, Peoples Bank Of East Tennessee's most frequently originated type of loan was Conventional, with 123 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 71 $14,375,000 $202,465 $0 0.00%
    Refi 40 $6,640,000 $166,000 $0 0.00%
    Home Improvement 7 $385,000 $55,000 $0 0.00%
    Other 5 $305,000 $61,000 $0 0.00%

    For 2021, Peoples Bank Of East Tennessee's most frequently cited loan purpose was Home Purchase, with 71 originations. The 2nd most popular reason was Refi, with 40 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 123 $21,705,000 $176,463 $0 0.00%

    For 2021, Peoples Bank Of East Tennessee's most frequently cited loan duration was Other, with 123 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 56 $3,350,000 $59,821 $0 0.00%
    $100k-200k 37 $5,095,000 $137,703 $0 0.00%
    $200k-400k 18 $5,260,000 $292,222 $0 0.00%
    $400k-600k 8 $3,940,000 $492,500 $0 0.00%
    $1MM+ 2 $2,750,000 $1,375,000 $0 0.00%
    $600k-1MM 2 $1,310,000 $655,000 $0 0.00%

    2021 saw Peoples Bank Of East Tennessee place emphasis on $100,000 or less loans with 56 originations, totaling $3,350,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 26 $2,050,000 $78,846 $0 0.00%
    $150k-250k 20 $5,720,000 $286,000 $0 0.00%
    $50k-75k 20 $1,970,000 $98,500 $0 0.00%
    $75k-100k 15 $1,825,000 $121,667 $0 0.00%
    $100k-150k 14 $2,390,000 $170,714 $0 0.00%
    $250k+ 13 $4,545,000 $349,615 $0 0.00%

    Peoples Bank Of East Tennessee lent most frequently to those with incomes in the $50k or less range, with 26 originations. The second most popular income band? $150k-250k, with 20 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 123 $21,705,000 $176,463 $0 0.00%

    Peoples Bank Of East Tennessee lent most frequently to those with DTI ratios of Exempt%, with 123 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 112 $18,950,000 $169,196 $0 0.00%
    Not applicable 9 $2,285,000 $253,889 $0 0.00%
    Not provided 1 $415,000 $415,000 $0 0.00%
    Black 1 $55,000 $55,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.95%

    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
    84.55%

    Peoples Bank Of East Tennessee has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 123 $21,705,000 $176,463

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    123 $21,705,000 $176,463

    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 of East Tennessee 4785 Highway 68 Madisonville, TN 37354 Full Service B&M $1,854
    Peoples Bank of East Tennessee 4511 Ushwy 411 Madisonville, TN 37354 Full Service B&M $104,783
    Peoples Bank of East Tennessee 1010 Highway 411 Vonore, TN 37885 Full Service B&M $22,445
    Peoples Bank of East Tennessee 105 Five Points Drive Ducktown, TN 37326 Full Service B&M $36,968
    Peoples Bank of East Tennessee 109 Blue Ridge Drive Mc Caysville, GA 30555 Full Service B&M $20,972
    Peoples Bank of East Tennessee 117 Monroe St Sweetwater, TN 37874 Full Service B&M $34,849
    Peoples Bank of East Tennessee 2270 Highway 72 North Loudon, TN 37774 Full Service B&M $16,610
    Peoples Bank of East Tennessee 835 Congress Pkwy S Athens, TN 37303 Full Service B&M $20,368
    Peoples Bank of East Tennessee 9186 New Highway 68 Tellico Plains, TN 37385 Full Service B&M $28,912

    For 2021, Peoples Bank Of East Tennessee had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $15,246
    Net interest income $14,518
    Total noninterest income $2,547
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,048
    Trading account gains and fees $0
    Additional Noninterest Income $1,499
    Pre-tax net operating income $6,661
    Securities gains (or losses, -) $150
    Income before extraordinary items $5,513
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,513
    Minority interest net income $0
    Net income $5,513
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $5,391

    Peoples Bank Of East Tennessee's gross interest income from loans was $15,246,000.
    Peoples Bank Of East Tennessee's net interest income from loans was $14,518,000.
    Peoples Bank Of East Tennessee's fee based income from loans was $1,048,000.
    Peoples Bank Of East Tennessee's net income from loans was $5,513,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $728
    Provision for credit losses $460
    Total noninterest expense $9,944
    Salaries and employee benefits $6,073
    Premises and equipment expense $859
    Additional noninterest expense $3,012
    Applicable income taxes $1,298
    Net charge-offs $292
    Cash dividends $0

    Peoples Bank Of East Tennessee's interest expense for loans was $728,000.
    Peoples Bank Of East Tennessee's payroll and benefits expense were $6,073,000.
    Peoples Bank Of East Tennessee's property, plant and equipment expenses $859,000.

    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 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 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 $321,718
    Deposits held in domestic offices $321,718
    Deposits by Individuals, partnerships, and corporations $303,603
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $18,115
    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 $207,324
    Demand deposits $105,722
    Nontransaction accounts $114,394
    Money market deposit accounts (MMDAs) $11,960
    Other savings deposits (excluding MMDAs) $46,141
    Total time deposits $56,293
    Total time and savings deposits $215,996
    Noninterest-bearing deposits $113,864
    Interest-bearing deposits $207,854
    Retail deposits $310,864
    IRAs and Keogh plan accounts $16,469
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $359,686
    Cash & Balances due from depository institutions $73,079
    Interest-bearing balances $68,484
    Total securities $76,074
    Federal funds sold & reverse repurchase $0
    Net loans and leases $194,591
    Loan and leases loss allowance $2,141
    Trading account assets $0
    Bank premises and fixed assets $8,941
    Other real estate owned $213
    Goodwill and other intangibles $0
    All other assets $6,788

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $359,686
    Total Liabilities $325,001
    Total deposits $321,718
    Interest-bearing deposits $207,854
    Deposits held in domestic offices $321,718
    % insured (estimated) $82
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $3,283

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $194,591
    Loan and leases loss allowance $2,141
    Total loans and leases (domestic) $196,732
    All real estate loans $169,396
    Real estate loans in domestic offices $169,396
    Construction and development loans $33,004
    Residential 1-4 family construction $18,100
    Other construction, all land development and other land $14,904
    Loans secured by nonfarm nonresidential properties $43,014
    Nonfarm nonresidential secured by owner-occupied properties $18,991
    Commercial real estate & other non-farm, non-residential $24,023
    Multifamily residential real estate $7,096
    1-4 family residential loans $83,886
    Farmland loans $2,396
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $19,537
    To non-U.S. addressees $0
    Loans to individuals $7,656
    Credit card loans $0
    Related Plans $128
    Consumer Auto Loans $2,784
    Other loans to individuals $4,744
    All other loans & leases $143
    Loans to foreign governments and official institutions $0
    Other loans $114
    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 $497
    Non 1-4 family restructured loans & leases $154
    Total loans and leases (foreign) $0

    Peoples Bank of East Tennessee had $194,591,000 of loans outstanding in 2021. $169,396,000 of loans were in real estate loans. $33,004,000 of loans were in development loans. $7,096,000 of loans were in multifamily mortgage loans. $83,886,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $2,784,000 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 160 $35,262 $220,388
    Nonfarm, nonresidential loans - <$100k 36 $1,201 $33,361
    Nonfarm, nonresidential loans - $100-250k 63 $8,656 $137,397
    Nonfarm, nonresidential loans - $250k-1MM 61 $25,405 $416,475
    Commercial & Industrial, US addressed loans - <$1MM 946 $18,471 $19,525
    Commercial & Industrial, US addressed loans - <$100k 910 $13,900 $15,275
    Commercial & Industrial, US addressed loans - $100-250k 28 $2,995 $106,964
    Commercial & Industrial, US addressed loans - $250k-1MM 8 $1,576 $197,000
    Farmland loans - <$1MM 26 $2,396 $92,154
    Farmland loans - <$100k 16 $586 $36,625
    Farmland loans - $100-250k 7 $869 $124,143
    Farmland loans - $250k-1MM 3 $941 $313,667