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 and Refi loans. Providence Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Columbia, St. Louis, Dallas, Jefferson City, and Frankfort among others. We have data for 28 markets. (Some data included below & more in-depth data is available with an active subscription.)Providence Bank 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
541Origination Dollar Volume (All Markets)
$125,815,000Employee count
178Top 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) | 177 | $45,675,000 | $258,051 | $0 | 0.00% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 152 | $29,650,000 | $195,066 | $0 | 0.00% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 73 | $24,985,000 | $342,260 | $0 | 0.00% |
| JEFFERSON CITY, MO (FHA|USDA|VA) | 65 | $9,455,000 | $145,462 | $0 | 0.00% |
| Outside of Metro Areas | 46 | $6,950,000 | $151,087 | $0 | 0.00% |
| Frankfort, KY (FHA|USDA|VA) | 1 | $1,365,000 | $1,365,000 | $0 | 0.00% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 5 | $1,115,000 | $223,000 | $0 | 0.00% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $765,000 | $765,000 | $0 | 0.00% |
| Ottumwa, IA (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $0 | 0.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $0 | 0.00% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $0 | 0.00% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $0 | 0.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 0.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 0.00% |
| Tullahoma-Manchester, TN (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 0.00% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 0.00% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| CARBONDALE-MARION, IL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 0.00% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| JOPLIN, MO (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| SPARTANBURG, SC (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
| Dickinson, ND (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| LINCOLN, NE (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| Fort Leonard Wood, MO (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 0.00% |
| Mexico, MO (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $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
For 2020, Providence Bank's most frequently originated type of loan was Conventional, with 511 originations. Their 2nd most popular type was VA, with 19 originations.
Loan Reason
For 2020, Providence Bank's most frequently cited loan purpose was Home Purchase, with 225 originations. The 2nd most popular reason was Refi, with 225 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 541 | $125,815,000 | $232,560 | $0 | 0.00% |
For 2020, Providence Bank's most frequently cited loan duration was Other, with 541 originations.
Loan Sizing
2020 saw Providence Bank place emphasis on $100k-200k loans with 209 originations, totaling $31,045,000 in origination value.
Applicant Income
Providence Bank lent most frequently to those with incomes in the $100k-150k range, with 125 originations. The second most popular income band? $50k-75k, with 97 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 541 | $125,815,000 | $232,560 | $0 | 0.00% |
Providence Bank lent most frequently to those with DTI ratios of Exempt%, with 541 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.44%
Providence Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination76.71%
Providence Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 541 | $125,815,000 | $232,560 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| PROVIDENT FUNDING ASSOCIATES | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 9 | 31.0% |
| PROVIDENT FUNDING ASSOCIATES | Conventional home mortgage | Closing on a mortgage | 6 | 20.7% |
| PROVIDENT FUNDING ASSOCIATES | Conventional home mortgage | Struggling to pay mortgage | 4 | 13.8% |
| PROVIDENT FUNDING ASSOCIATES | Conventional home mortgage | Trouble during payment process | 9 | 31.0% |
| PROVIDENT FUNDING ASSOCIATES | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 3.4% |
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 | $70,507 |
| Providence Bank | 1115 South Main Street Grapevine, TX 76051 | Full Service B&M | $42,309 |
| Providence Bank | 1643 South Jefferson Avenue, Suite E Saint Louis, MO 63104 | Full Service B&M | $1,698 |
| Providence Bank | 295 Salt Lick Road Saint Peters, MO 63376 | Full Service B&M | $56,210 |
| Providence Bank | 300 Ellis Boulevard Jefferson City, MO 65101 | Full Service B&M | $57,218 |
| Providence Bank | 301 Broadway Elsberry, MO 63343 | Full Service B&M | $43,483 |
| Providence Bank | 3525 Missouri Boulevard Jefferson City, MO 65109 | Full Service B&M | $33,680 |
| Providence Bank | 3855 Forum Boulevard Columbia, MO 65203 | Full Service B&M | $62,382 |
| Providence Bank | 4001 East Highway 47 Winfield, MO 63389 | Full Service B&M | $28,922 |
| Providence Bank | 460 Hawk Ridge Trail Lake Saint Louis, MO 63367 | Full Service Retail | $49,729 |
| Providence Bank | 4600 North Illinois Street Fairview Heights, IL 62208 | Full Service B&M | $126,543 |
| Providence Bank | 8 North 5th Street Columbia, MO 65201 | Full Service B&M | $18,114 |
| Providence Bank | 815 West Stadium Boulevard Jefferson City, MO 65109 | Full Service B&M | $282,611 |
| Providence Bank | 995 Kk Drive Osage Beach, MO 65065 | Full Service B&M | $35,219 |
For 2020, Providence Bank had 14 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $44,938 |
| Net interest income | $35,740 |
| Total noninterest income | $5,890 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $1,026 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $4,864 |
| Pre-tax net operating income | $9,929 |
| Securities gains (or losses, -) | $270 |
| Income before extraordinary items | $10,199 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $10,199 |
| Minority interest net income | $0 |
| Net income | $10,199 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $9,929 |
Providence Bank's gross interest income from loans was $44,938,000.
Providence Bank's net interest income from loans was $35,740,000.
Providence Bank's fee based income from loans was $1,026,000.
Providence Bank's net income from loans was $10,199,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $9,198 |
| Provision for credit losses | $2,139 |
| Total noninterest expense | $29,562 |
| Salaries and employee benefits | $19,138 |
| Premises and equipment expense | $2,902 |
| Additional noninterest expense | $7,522 |
| Applicable income taxes | $0 |
| Net charge-offs | $1,868 |
| Cash dividends | $2,000 |
Providence Bank's interest expense for loans was $9,198,000.
Providence Bank's payroll and benefits expense were $19,138,000.
Providence Bank's property, plant and equipment expenses $2,902,000.
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 | 0.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 1.0% |
| HELOC loans | 0.0% |
| All other family | 2.0% |
| 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 | $895,811 |
| Deposits held in domestic offices | $895,811 |
| Deposits by Individuals, partnerships, and corporations | $813,425 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $48,264 |
| Deposits by Commercial banks and other depository institutions in U.S. | $34,122 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $307,338 |
| Demand deposits | $205,592 |
| Nontransaction accounts | $588,473 |
| Money market deposit accounts (MMDAs) | $115,493 |
| Other savings deposits (excluding MMDAs) | $94,557 |
| Total time deposits | $378,422 |
| Total time and savings deposits | $690,219 |
| Noninterest-bearing deposits | $139,748 |
| Interest-bearing deposits | $756,063 |
| Retail deposits | $785,060 |
| IRAs and Keogh plan accounts | $35,522 |
| Brokered deposits | $61,734 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $1,114,150 |
| Cash & Balances due from depository institutions | $35,577 |
| Interest-bearing balances | $30,484 |
| Total securities | $124,440 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $857,376 |
| Loan and leases loss allowance | $8,592 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $23,605 |
| Other real estate owned | $8,435 |
| Goodwill and other intangibles | $20,639 |
| All other assets | $44,078 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $1,114,150 |
| Total Liabilities | $941,073 |
| Total deposits | $895,811 |
| Interest-bearing deposits | $756,063 |
| Deposits held in domestic offices | $895,811 |
| % insured (estimated) | $80 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $39,441 |
| Subordinated debt | $0 |
| All other liabilities | $5,821 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $857,376 |
| Loan and leases loss allowance | $8,592 |
| Total loans and leases (domestic) | $865,968 |
| All real estate loans | $516,767 |
| Real estate loans in domestic offices | $516,767 |
| Construction and development loans | $80,971 |
| Residential 1-4 family construction | $18,433 |
| Other construction, all land development and other land | $62,538 |
| Loans secured by nonfarm nonresidential properties | $232,702 |
| Nonfarm nonresidential secured by owner-occupied properties | $104,459 |
| Commercial real estate & other non-farm, non-residential | $128,243 |
| Multifamily residential real estate | $96,280 |
| 1-4 family residential loans | $97,044 |
| Farmland loans | $9,770 |
| Loans held in foreign offices | $0 |
| Farm loans | $377 |
| Commercial and industrial loans | $283,698 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $22,155 |
| Credit card loans | $0 |
| Related Plans | $39 |
| Consumer Auto Loans | $1,619 |
| Other loans to individuals | $20,497 |
| All other loans & leases | $42,971 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $32,319 |
| Loans to depository institutions and acceptances of other banks | $10,157 |
| Loans not secured by real estate | $0 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $1,026 |
| Non 1-4 family restructured loans & leases | $0 |
| Total loans and leases (foreign) | $0 |
Providence Bank had $857,376,000 of loans outstanding in 2020. $516,767,000 of loans were in real estate loans. $80,971,000 of loans were in development loans. $96,280,000 of loans were in multifamily mortgage loans. $97,044,000 of loans were in 1-4 family mortgage loans. $377,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,619,000 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 | 202 | $54,906 | $271,812 |
| Nonfarm, nonresidential loans - <$100k | 34 | $1,230 | $36,176 |
| Nonfarm, nonresidential loans - $100-250k | 58 | $7,014 | $120,931 |
| Nonfarm, nonresidential loans - $250k-1MM | 110 | $46,662 | $424,200 |
| Commercial & Industrial, US addressed loans - <$1MM | 843 | $93,083 | $110,419 |
| Commercial & Industrial, US addressed loans - <$100k | 464 | $15,415 | $33,222 |
| Commercial & Industrial, US addressed loans - $100-250k | 217 | $26,495 | $122,097 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 162 | $51,173 | $315,883 |
| Farmland loans - <$1MM | 20 | $3,166 | $158,300 |
| Farmland loans - <$100k | 5 | $138 | $27,600 |
| Farmland loans - $100-250k | 8 | $1,037 | $129,625 |
| Farmland loans - $250k-1MM | 7 | $1,991 | $284,429 |
| Agriculture operations loans - <$1MM | 7 | $373 | $53,286 |
| Agriculture operations loans - <$100k | 4 | $58 | $14,500 |
| Agriculture operations loans - $100-250k | 3 | $315 | $105,000 |