Peoples Independent Bank Mortgage Lending & HMDA Data, 2013
In 2013, Peoples Independent Bank of Boaz, AL reported 143 mortgage applications totaling $10.9 million, about the same as 2012. The average application was for $76,538, and applicants reported an average income of $78,818. 64% of its applications resulted in an originated loan and 21% were denied. Its largest markets were Gadsden, AL (44), Birmingham-Hoover, AL (9) and Huntsville, AL (4) (applications in parentheses).
| Mortgage Company & Address | Peoples Independent Bank 121 Billy Dyar Blvd Po Box 669 Boaz, AL 35957 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2019 2018 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 |
| Total Number of Mortgage Applications | 143 |
| Total Mortgage Loan Application Amount | $10,945,000 |
| Average Mortgage Loan Application Amount | $76,538 |
| Highest Mortgage Loan Application Amount | $983,000 |
| Average Applicant Income | $78,818 |
| Highest Applicant Income | $1,113,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Peoples Independent Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
Mortgage Loan Application Detail Totals for Peoples Independent Bank in 2013
Loan Purpose |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Refinancing | 55 | $6,813,000 | $123,000 | $983,000 | $105,000 | $1,113,000 |
| Home Improvement | 48 | $1,463,000 | $30,000 | $320,000 | $62,000 | $345,000 |
| Home Purchase | 40 | $2,669,000 | $66,000 | $214,000 | $63,000 | $271,000 |
Applicant Race |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| White | 118 | $9,699,000 | $82,000 | $983,000 | $89,000 | $1,113,000 |
| Hispanic | 11 | $277,000 | $25,000 | $76,000 | $58,000 | $154,000 |
| Not applicable | 10 | $856,000 | $85,000 | $271,000 | $0 | $0 |
| Black or African American | 2 | $25,000 | $12,000 | $15,000 | $15,000 | $30,000 |
| American Indian or Alaskan Native | 1 | $8,000 | $8,000 | $8,000 | $35,000 | $35,000 |
| Asian | 1 | $80,000 | $80,000 | $80,000 | $28,000 | $28,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 0 | $0 | $0 | $0 | $0 | $0 |
Loan Type |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 128 | $9,278,000 | $72,000 | $983,000 | $82,000 | $1,113,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 12 | $1,291,000 | $107,000 | $153,000 | $41,000 | $74,000 |
| FHA-insured (Federal Housing Administration) | 3 | $376,000 | $125,000 | $205,000 | $67,000 | $96,000 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
Outcome |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Loan Originated | 91 | $6,435,000 | $70,000 | $983,000 | $98,000 | $1,113,000 |
| Application Denied By Financial Institution | 30 | $1,809,000 | $60,000 | $190,000 | $40,000 | $93,000 |
| Application Withdrawn By Applicant | 13 | $1,525,000 | $117,000 | $205,000 | $53,000 | $116,000 |
| File Closed For Incompleteness | 8 | $1,054,000 | $131,000 | $280,000 | $54,000 | $97,000 |
| Application Approved But Not Accepted | 1 | $122,000 | $122,000 | $122,000 | $24,000 | $24,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
Denial Reason |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Credit History | 19 | $1,089,000 | $57,000 | $190,000 | $41,000 | $93,000 |
| Debt-To-Income Ratio | 7 | $474,000 | $67,000 | $152,000 | $33,000 | $43,000 |
| Collateral | 2 | $115,000 | $57,000 | $75,000 | $51,000 | $72,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $32,000 | $32,000 | $32,000 | $37,000 | $37,000 |
| Other | 1 | $99,000 | $99,000 | $99,000 | $62,000 | $62,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Peoples Independent Bank's 2013 lending activity. By analyzing detailed data on mortgage applications, total loan amounts, applicant incomes, loan purposes, and approval rates, industry professionals, researchers, and analysts can gain a clear understanding of this lender's role in the mortgage market.
This in-depth HMDA data allows real estate experts, financial analysts, and policymakers to track lending trends, evaluate borrower demographics,
and assess Peoples Independent Bank's mortgage approval patterns.
Utilize this powerful dataset to analyze market performance, compare lending practices, and make data-driven decisions in the ever-changing mortgage industry.
For a list of all lenders in Alabama, download the full spreadsheet
with aggregated HMDA statistics today.
Mortgage lenders & HMDA data by state: Alabama · Alaska · Arizona · Arkansas · California · Colorado · Connecticut · Delaware · District of Columbia · Florida · Georgia · Hawaii · Idaho · Illinois · Indiana · Iowa · Kansas · Kentucky · Louisiana · Maine · Maryland · Massachusetts · Michigan · Minnesota · Mississippi · Missouri · Montana · Nebraska · Nevada · New Hampshire · New Jersey · New Mexico · New York · North Carolina · North Dakota · Ohio · Oklahoma · Oregon · Pennsylvania · Puerto Rico · Rhode Island · South Carolina · South Dakota · Tennessee · Texas · Utah · Vermont · Virginia · Washington · West Virginia · Wisconsin · Wyoming
Home · Mortgage lenders A–Z · Data downloads · Blog · About