PlainLender

Peoples Bank

Bellingham, WA

Peoples Bank processed 1,189 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 633 loans with a 18.9% denial rate. Home Purchase was the primary loan purpose. Based in Bellingham, WA. The approval rate of 53.2% reflects originated loans as a share of all applications. Below you will find a breakdown by loan type, loan purpose, denial reasons, and demographic lending patterns as required by the Home Mortgage Disclosure Act.

Portfolio scale. Peoples Bank processed 1,189 HMDA-reported mortgage applications in 2024, originating 633 loans and denying 225 for a denial rate of 18.9% (applicants themselves withdrew 190 files before a decision). The average loan amount was $401,964 at a 7.868% average note rate, and applicants self-reported an average income of $37,000. The lender reports under LEI 5493001VH4ZJNSI25781 from Bellingham, WA.

Why approval and denial rates diverge. Approval (origination) rate and denial rate do not sum to 100% — HMDA records several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Peoples Bank's 53.2% origination rate tells you how often an application turned into funded money; the 18.9% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Debt-to-income ratio, Credit history, Collateral, which together explain the majority of rejections. Most activity concentrated in Conventional loans (1,168 applications).

How to read this page. These figures are aggregate HMDA disclosures — they describe this lender's overall 2024 book, not your individual odds. Approval and denial rates are shaped by the applicant mix a lender actually receives: credit profile, loan-to-value, debt-to-income, property type, and geography. A lower denial rate at one lender versus another does not necessarily mean easier underwriting — it often reflects borrower self-selection and loan-product specialization. This page is informational data reporting, not financial, legal, or mortgage advice. Compare multiple lenders, read your Loan Estimate carefully, and consult a licensed mortgage professional before applying. Data reflects 2024 disclosures published by the CFPB in 2025.

1,189
Applications
633
Originated
18.9%
Denial Rate
$401,964
Avg Loan Amount
Avg Interest Rate: 7.868% Avg Applicant Income: $37,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 1,168 624 223 $399,914
FHA 13 4 2 $468,077
VA 8 5 0 $593,750

Top loan types — Peoples Bank

Top loan types — Peoples Bank Horizontal bar chart of the top 3 items by value (applications). Top loan types — Peoples Bank Top 3 1. Conventional 1,168 2. FHA 13 3. VA 8 Top 5 loan types by application volume at Peoples Bank (HMDA 2023). Source: CFPB HMDA loan/application register.

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2023 LAR — application-level mortgage data for Peoples Bank (LEI: 5493001VH4ZJNSI25781) · 2023 HMDA reports filed annually; covers applications received during the calendar year. Approval rates exclude withdrawn / incomplete applications. Denial reasons are lender-reported.

Denial Analysis

Debt-to-income ratio
128
Credit history
57
Collateral
56
Other
12
Insufficient cash
3

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Purchase 604 304 $586,672
Home Improvement 213 119 $130,540
Other 199 105 $167,663
Refinancing 136 83 $337,206
Cash-out Refinancing 37 22 $447,432

Geographic Coverage — Lending by Race

Derived race categories as reported under HMDA. Source: CFPB.

Race Applications Approval Rate Denial Rate
White 908 55.8% 19.2%
Asian 98 37.8% 16.3%
Joint 31 58.1% 19.4%
American Indian or Alaska Native 11 18.2% 36.4%
Black or African American 5 40.0% 40.0%
Native Hawaiian or Other Pacific Islander 5 40.0% 40.0%
2 or more minority races 2 0.0% 50.0%

Lending by Ethnicity

Hispanic/Latino is an ethnicity, not a race. Shown separately per U.S. Census Bureau standards.

Ethnicity Applications Approval Rate Denial Rate
Not Hispanic or Latino 937 56.0% 17.4%
Hispanic or Latino 108 30.6% 38.9%
Joint 26 46.1% 23.1%

Nearby Lenders in WA

Other HMDA-reporting lenders in WA with similar activity. Compare any two side-by-side.

Coastal Community Bank

Everett, WA

64,233 apps 15,099 originated 1.6% denied

Boeing Employees' Credit Union

Tukwila, WA

21,382 apps 13,093 originated 24.6% denied

EVERGREEN MONEYSOURCE MORTGAGE COMPANY

BELLEVUE, WA

6,824 apps 4,791 originated 3.0% denied

Banner Bank

Walla Walla, WA

6,099 apps 3,140 originated 33.5% denied

WSECU

OLYMPIA, WA

4,133 apps 1,960 originated 42.2% denied
Compare Peoples Bank vs Coastal Community Bank →

Mortgage Lending Guides

Why Mortgages Get Denied
Common denial reasons and how to improve your chances
Comparing Mortgage Lenders
What to look for when choosing a mortgage lender
Getting the Best Mortgage Rate
Strategies for securing the lowest interest rate
Understanding HMDA Data
How to read and interpret mortgage disclosure data
Denial Rates by Demographics
Demographic patterns in mortgage approval and denial

Explore More Data

Bank Financial Data → Credit Union Data → Financial Advisor Lookup → Home Insurance Costs → Property Tax Data → Rent Price Data →

Frequently Asked Questions

How many mortgage applications did Peoples Bank process?
Peoples Bank processed 1,189 mortgage applications in the 2023 HMDA reporting year. Of these, 633 were originated (approved and funded), 190 were withdrawn by the applicant, and 225 were denied.
What is Peoples Bank's mortgage approval rate?
Peoples Bank has an approval (origination) rate of 53.2%, meaning 53.2% of all applications resulted in a funded mortgage. The denial rate is 18.9%.
What is the average loan amount at Peoples Bank?
The average mortgage loan amount at Peoples Bank is $401,964. The average interest rate is 7.868%. The average applicant income is $37,000.
What are the most common reasons for mortgage denial at Peoples Bank?
The most common reasons for mortgage denial at Peoples Bank are: Debt-to-income ratio, Credit history, Collateral. In total, 225 applications were denied out of 1,189 total applications.
What types of mortgage loans does Peoples Bank offer?
Peoples Bank processes Conventional, FHA, VA loans. The most common type is Conventional with 1,168 applications and an average loan amount of $399,914.
What loan purposes does Peoples Bank serve?
Peoples Bank serves the following loan purposes: Home Purchase (604 applications), Home Improvement (213 applications), Other (199 applications), Refinancing (136 applications), Cash-out Refinancing (37 applications). Home Purchase is the most common purpose.
Where is Peoples Bank located?
Peoples Bank is headquartered in Bellingham, WA. The lender is identified by LEI 5493001VH4ZJNSI25781 in HMDA data.
How does Peoples Bank compare in lending across racial demographics?
Peoples Bank reports demographic lending data under HMDA requirements. White applicants have an approval rate of 55.8% and denial rate of 19.2%; Asian applicants have an approval rate of 37.8% and denial rate of 16.3%; Joint applicants have an approval rate of 58.1% and denial rate of 19.4%. This data reflects derived race categories as reported by applicants.

Data Sources

Data as of 2024. Source: Consumer Financial Protection Bureau (CFPB), Home Mortgage Disclosure Act (HMDA) 2024 Snapshot.

Data from FFIEC / CFPB HMDA 2024 Snapshot National Loan-Level Dataset. Demographic data reflects derived categories as reported by applicants. Denial rates include all application outcomes. This data is provided for informational purposes only.

Read our methodology — how this data is sourced, computed, and verified.