Applications / Mortgage Analytics / Lenders / Washington / Peoples Bank
Bellingham, WA · State non-member bank · FDIC · $2.5 billion assets · 523 loans in 2025
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523
loans originated, 2025
925
applications, 2025
1
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Peoples Bank is a northwest Washington bank focused on home purchases with larger loans than most similar lenders, but its 523 loans in 2025 were 17% fewer than in 2024 while peers grew.
Originations fell 17%, while similar lenders (state non-member banks making between half and twice as many loans) grew 9% and the whole market 10%, a lower change than nearly nine in ten of them. Its count has fallen every year since 2,337 in 2020. The fact pack does not show why; it may reflect a choice to lend less, or more competition in its home markets.
In Bellingham it ranked 6 of 256 lenders with 3.5% of the market, down 1.6 points; Whatcom Educational Credit Union led. In Mount Vernon-Anacortes its share fell to 2.9% from 5.5%, and in Wenatchee-East Wenatchee to 2.3% from 2.8%. The smaller shares follow from its fewer loans; other lenders may have taken more of these markets.
Its typical loan was $255,000, against $185,000 at similar lenders, larger than about three in four of them. Jumbo loans (larger than the conforming limit) were 5.8% of its loans, against 1.6%, though down from 12.4% in 2024.
LMI (low- and moderate-income) borrowers took 17.9% of its loans, against 27.5% at similar lenders, among the lowest tenth; LMI areas took 10.1%, against 15.9%. A lender making larger, purchase-led loans may serve more higher-income buyers, and its markets may hold fewer LMI areas.
Questions the data can answer next
Similar lenders: same lender type, originations between half and twice the lender's in the data year. Written from the 2025 HMDA data and checked figure by figure against it.
FIG. 1 — LOANS ORIGINATED, 2018–2025
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Peoples Bank took 925 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 40.0% · Home improvement 22.9% · Refinance 21.8% · Other 15.3%
Conventional 99.0% · VA 0.6% · FHA 0.4% · of 523 loans. Purchase: buying a home. Refinance: replacing an existing mortgage, including cash-out. FHA: insured by the Federal Housing Administration. VA: guaranteed by the Department of Veterans Affairs. Conventional: neither.
SOURCE: FFIEC HMDA 2025, LOANS ORIGINATED
Where it lends, 2025
| State | Loans | Share |
|---|---|---|
| Washington | 523 | 100.0% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Bellingham | 203 |
| Mount Vernon-Anacortes | 111 |
| Wenatchee-East Wenatchee | 69 |
| Everett | 31 |
| Seattle-Bellevue-Kent | 17 |
| Tacoma-Lakewood | 3 |
| Bremerton-Silverdale-Port Orchard | 2 |
| Portland-Vancouver-Hillsboro | 2 |
| Kennewick-Richland | 1 |
| Spokane-Spokane Valley | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 5493001VH4ZJNSI25781 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 455972 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 36158 | 1990–2017 |
Established 7 January 1921. Reported under HMDA 1990-2025.
Mergers, name changes, data editions and corrections: Peoples Bank's data.
Peoples Bank's data
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Peoples Bank and its peers, 2018–2025: every application in the HMDA data, cleaned and corrected, as Parquet files, with the Jenner programs that made these pages.
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