Providence Bank Mortgage Rates, Fees & Info
Columbia, MOLEI: 254900GCM1G6FHLNYX50
Tax ID: 43-0170030
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Mortgage Data
Bank Data
Review & Overview
Providence Bank is a smaller bank specializing in Home Purchase loans. Providence Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Columbia, Dallas, St. Louis, Topeka, and Miami among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)Providence Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
236Origination Dollar Volume (All Markets)
$56,650,000Employee count
204Top 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 |
|---|---|---|---|---|---|
| COLUMBIA, MO (FHA|USDA|VA) | 67 | $12,275,000 | $183,209 | $0 | 0.00% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 36 | $11,230,000 | $311,944 | $0 | 0.00% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 73 | $9,965,000 | $136,507 | $0 | 0.00% |
| TOPEKA, KS (FHA|USDA|VA) | 1 | $8,025,000 | $8,025,000 | $0 | 0.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $3,405,000 | $3,405,000 | $0 | 0.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 3 | $2,905,000 | $968,333 | $0 | 0.00% |
| JEFFERSON CITY, MO (FHA|USDA|VA) | 26 | $2,740,000 | $105,385 | $0 | 0.00% |
| Outside of Metro Areas | 19 | $2,695,000 | $141,842 | $0 | 0.00% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $1,325,000 | $1,325,000 | $0 | 0.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $0 | 0.00% |
| Brownwood, TX (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 0.00% |
| Moberly, MO (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
| Mineral Wells, TX (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| ABILENE, TX (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| Farmington, MO (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| Athens, TX (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Providence Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 230 | $55,820,000 | $242,696 | $0 | 0.00% |
| FHA | 3 | $405,000 | $135,000 | $0 | 0.00% |
| USDA | 3 | $425,000 | $141,667 | $0 | 0.00% |
For 2018, Providence Bank's most frequently originated type of loan was Conventional, with 230 originations. Their 2nd most popular type was FHA, with 3 originations.
Loan Reason
For 2018, Providence Bank's most frequently cited loan purpose was Home Purchase, with 163 originations. The 2nd most popular reason was Refi, with 28 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 236 | $56,650,000 | $240,042 | $0 | 0.00% |
For 2018, Providence Bank's most frequently cited loan duration was Other, with 236 originations.
Loan Sizing
2018 saw Providence Bank place emphasis on $100k-200k loans with 93 originations, totaling $13,485,000 in origination value.
Applicant Income
Providence Bank lent most frequently to those with incomes in the $50k or less range, with 69 originations. The second most popular income band? $100k-150k, with 44 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 236 | $56,650,000 | $240,042 | $0 | 0.00% |
Providence Bank lent most frequently to those with DTI ratios of Exempt%, with 236 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications85.99%
Providence Bank has an average approval rate.
Pick Rate
Approvals leading to origination75.42%
Providence Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 236 | $56,650,000 | $240,042 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| PROVIDENT FUNDING ASSOCIATES | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 3 | 12.0% |
| PROVIDENT FUNDING ASSOCIATES | Conventional home mortgage | Closing on a mortgage | 2 | 8.0% |
| PROVIDENT FUNDING ASSOCIATES | Conventional home mortgage | Struggling to pay mortgage | 2 | 8.0% |
| PROVIDENT FUNDING ASSOCIATES | Conventional home mortgage | Trouble during payment process | 15 | 60.0% |
| PROVIDENT FUNDING ASSOCIATES | FHA mortgage | Trouble during payment process | 1 | 4.0% |
| PROVIDENT FUNDING ASSOCIATES | Home equity loan or line of credit (HELOC) | Struggling to pay mortgage | 1 | 4.0% |
| PROVIDENT FUNDING ASSOCIATES | Other type of mortgage | Trouble during payment process | 1 | 4.0% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Providence Bank | 1001 South Fifth Street Saint Charles, MO 63301 | Full Service B&M | $78,333 |
| Providence Bank | 1115 South Main Street Grapevine, TX 76051 | Full Service B&M | $24,911 |
| Providence Bank | 295 Salt Lick Road Saint Peters, MO 63376 | Full Service B&M | $55,430 |
| Providence Bank | 300 Ellis Boulevard Jefferson City, MO 65101 | Full Service B&M | $52,532 |
| Providence Bank | 301 Broadway Elsberry, MO 63343 | Full Service B&M | $36,284 |
| Providence Bank | 3525 Missouri Boulevard Jefferson City, MO 65109 | Full Service B&M | $28,825 |
| Providence Bank | 3855 Forum Boulevard Columbia, MO 65203 | Full Service B&M | $57,108 |
| Providence Bank | 4001 East Highway 47 Winfield, MO 63389 | Full Service B&M | $16,972 |
| Providence Bank | 460 Hawk Ridge Trail Lake Saint Louis, MO 63367 | Full Service Retail | $45,331 |
| Providence Bank | 4600 North Illinois Street Fairview Heights, IL 62208 | Full Service B&M | $119,002 |
| Providence Bank | 8 North 5th Street Columbia, MO 65201 | Full Service B&M | $16,602 |
| Providence Bank | 815 West Stadium Boulevard Jefferson City, MO 65109 | Full Service B&M | $209,676 |
| Providence Bank | 995 Kk Drive Osage Beach, MO 65065 | Full Service B&M | $32,692 |
For 2018, Providence Bank had 13 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $41,329 |
| Net interest income | $33,177 |
| Total noninterest income | $3,899 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $1,169 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $2,730 |
| Pre-tax net operating income | $6,766 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $6,766 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $6,766 |
| Minority interest net income | $0 |
| Net income | $6,766 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $6,766 |
Providence Bank's gross interest income from loans was $41,329,000.
Providence Bank's net interest income from loans was $33,177,000.
Providence Bank's fee based income from loans was $1,169,000.
Providence Bank's net income from loans was $6,766,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $8,152 |
| Provision for credit losses | $1,828 |
| Total noninterest expense | $28,482 |
| Salaries and employee benefits | $17,444 |
| Premises and equipment expense | $3,130 |
| Additional noninterest expense | $7,908 |
| Applicable income taxes | $0 |
| Net charge-offs | $2,516 |
| Cash dividends | $1,000 |
Providence Bank's interest expense for loans was $8,152,000.
Providence Bank's payroll and benefits expense were $17,444,000.
Providence Bank's property, plant and equipment expenses $3,130,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 1.0% |
| Real Estate loans | 1.0% |
| Construction & Land Development loans | 0.0% |
| Nonfarm, nonresidential loans | 1.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 3.0% |
| HELOC loans | 0.0% |
| All other family | 3.0% |
| 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 | $808,378 |
| Deposits held in domestic offices | $808,378 |
| Deposits by Individuals, partnerships, and corporations | $751,457 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $40,994 |
| Deposits by Commercial banks and other depository institutions in U.S. | $15,928 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $208,896 |
| Demand deposits | $139,546 |
| Nontransaction accounts | $599,483 |
| Money market deposit accounts (MMDAs) | $115,935 |
| Other savings deposits (excluding MMDAs) | $66,022 |
| Total time deposits | $417,525 |
| Total time and savings deposits | $668,833 |
| Noninterest-bearing deposits | $123,037 |
| Interest-bearing deposits | $685,341 |
| Retail deposits | $702,023 |
| IRAs and Keogh plan accounts | $34,236 |
| Brokered deposits | $69,121 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $1,021,040 |
| Cash & Balances due from depository institutions | $22,724 |
| Interest-bearing balances | $16,515 |
| Total securities | $150,092 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $757,426 |
| Loan and leases loss allowance | $9,168 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $25,536 |
| Other real estate owned | $1,849 |
| Goodwill and other intangibles | $20,896 |
| All other assets | $42,517 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $1,021,040 |
| Total Liabilities | $870,023 |
| Total deposits | $808,378 |
| Interest-bearing deposits | $685,341 |
| Deposits held in domestic offices | $808,378 |
| % insured (estimated) | $84 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $55,523 |
| Subordinated debt | $0 |
| All other liabilities | $6,122 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $757,426 |
| Loan and leases loss allowance | $9,168 |
| Total loans and leases (domestic) | $766,594 |
| All real estate loans | $508,188 |
| Real estate loans in domestic offices | $508,188 |
| Construction and development loans | $92,284 |
| Residential 1-4 family construction | $23,712 |
| Other construction, all land development and other land | $68,572 |
| Loans secured by nonfarm nonresidential properties | $246,466 |
| Nonfarm nonresidential secured by owner-occupied properties | $119,968 |
| Commercial real estate & other non-farm, non-residential | $126,498 |
| Multifamily residential real estate | $59,366 |
| 1-4 family residential loans | $99,652 |
| Farmland loans | $10,420 |
| Loans held in foreign offices | $0 |
| Farm loans | $387 |
| Commercial and industrial loans | $207,692 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $27,179 |
| Credit card loans | $0 |
| Related Plans | $47 |
| Consumer Auto Loans | $1,158 |
| Other loans to individuals | $25,974 |
| All other loans & leases | $23,149 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $22,194 |
| 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 | $862 |
| Non 1-4 family restructured loans & leases | $182 |
| Total loans and leases (foreign) | $0 |
Providence Bank had $757,426,000 of loans outstanding in 2018. $508,188,000 of loans were in real estate loans. $92,284,000 of loans were in development loans. $59,366,000 of loans were in multifamily mortgage loans. $99,652,000 of loans were in 1-4 family mortgage loans. $387,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,158,000 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 | 210 | $55,234 | $263,019 |
| Nonfarm, nonresidential loans - <$100k | 38 | $1,569 | $41,289 |
| Nonfarm, nonresidential loans - $100-250k | 65 | $8,872 | $136,492 |
| Nonfarm, nonresidential loans - $250k-1MM | 107 | $44,793 | $418,626 |
| Commercial & Industrial, US addressed loans - <$1MM | 466 | $64,291 | $137,964 |
| Commercial & Industrial, US addressed loans - <$100k | 198 | $8,240 | $41,616 |
| Commercial & Industrial, US addressed loans - $100-250k | 145 | $17,988 | $124,055 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 123 | $38,063 | $309,455 |
| Farmland loans - <$1MM | 29 | $4,554 | $157,034 |
| Farmland loans - <$100k | 8 | $292 | $36,500 |
| Farmland loans - $100-250k | 13 | $1,850 | $142,308 |
| Farmland loans - $250k-1MM | 8 | $2,412 | $301,500 |
| Agriculture operations loans - <$1MM | 7 | $379 | $54,143 |
| Agriculture operations loans - <$100k | 5 | $94 | $18,800 |
| Agriculture operations loans - $100-250k | 1 | $105 | $105,000 |
| Agriculture operations loans - $250k-1MM | 1 | $180 | $180,000 |