Provident Bank Mortgage Rates, Fees & Info
Jersey City, NJLEI: 5493004NH61PL6YYNH25
Tax ID: 22-1211130
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Overview
Provident Bank is a smaller bank specializing in Refi and Home Purchase loans. Provident Bank has a high proportion of conventional loans. Their top markets include New York, Philadelphia, Poughkeepsie, Allentown, and Columbus among others. Provident Bank has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Provident Bank is typically an average fee lendor.Originations
1,011Origination Dollar Volume (All Markets)
$475,775,000Employee count
1,143Awards
Provident Bank - 2021
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For 2021, less than of lenders were eligible for this award.
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Relative Rate
Provident Bank's average 30 year fixed rate mortgage of loans were
2.86%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.29%.
Relative Fees
Provident Bank's average total fees for a 30 year fixed rate
mortgage are $4,447.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 912 | $349,630,000 | $383,366 | $3,248 | 3.13% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 54 | $89,850,000 | $1,663,889 | $4,024 | 3.35% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 3 | $13,485,000 | $4,495,000 | $6,943 | 3.12% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 16 | $4,620,000 | $288,750 | $3,365 | 3.22% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $4,055,000 | $4,055,000 | $0 | 3.70% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 3 | $3,595,000 | $1,198,333 | $0 | 3.29% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 11 | $2,955,000 | $268,636 | $1,296 | 3.34% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $2,735,000 | $2,735,000 | $0 | 3.40% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $2,405,000 | $2,405,000 | $0 | 3.25% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $4,639 | 3.25% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 3.95% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $0 | 3.95% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $4,891 | 2.88% |
| KINGSTON, NY (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $5,162 | 3.50% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 3.88% |
| Outside of Metro Areas | 2 | $200,000 | $100,000 | $2,035 | 3.19% |
Provident Bank's top markets include New York, Philadelphia, Poughkeepsie, Allentown, and Columbus among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 1,011 | $475,775,000 | $470,598 | $3,258 | 3.15% |
For the 2021 period, Provident Bank's most frequently originated loan type of loans were Conventional, with 1,011 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Refi | 555 | $275,705,000 | $496,766 | $2,319 | 3.20% |
| Cash Out Refi | 236 | $86,110,000 | $364,873 | $4,776 | 2.84% |
| Home Purchase | 166 | $107,480,000 | $647,470 | $5,283 | 3.27% |
| Other | 38 | $4,790,000 | $126,053 | $133 | 3.66% |
| Home Improvement | 16 | $1,690,000 | $105,625 | $0 | 3.63% |
For the 2021, Provident Bank's most frequently cited loan purpose of loans were Refi, with 555 originations. The 2nd most popular reason of loans were Cash Out Refi, with 236 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 427 | $266,895,000 | $625,047 | $4,918 | 3.08% |
| 30 Year | 187 | $56,665,000 | $303,021 | $4,447 | 2.86% |
| 10 Year | 142 | $75,630,000 | $532,606 | $114 | 3.47% |
| 15 Year | 111 | $21,875,000 | $197,072 | $1,653 | 3.13% |
| 20 Year | 89 | $16,795,000 | $188,708 | $968 | 3.49% |
| 5 Year | 54 | $34,010,000 | $629,815 | $0 | 3.40% |
| 1 Year | 1 | $3,905,000 | $3,905,000 | $0 | 3.75% |
For the 2021, Provident Bank's most frequently cited loan length of loans were Other, with 427 originations. The 2nd most popular length of loans were 30 Year, with 187 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 645 | $168,165,000 | $260,721 |
| $1k-2k | 143 | $50,725,000 | $354,720 |
| $2k-3k | 13 | $7,225,000 | $555,769 |
| $3k-4k | 8 | $6,720,000 | $840,000 |
| $5k+ | 7 | $2,685,000 | $383,571 |
$4,447 of loans were Provident Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 645 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 550 | $328,450,000 | $597,182 |
| 2.5-3% | 322 | $114,010,000 | $354,068 |
| <2.5% | 110 | $28,800,000 | $261,818 |
| 4-5% | 25 | $4,285,000 | $171,400 |
| 5-6% | 4 | $230,000 | $57,500 |
During 2021, Provident Bank's average interest rate of loans were 2.86%, while their most frequently originated rate bucket of loans were 3-4%, with 550 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 352 | $100,230,000 | $284,744 | $3,929 | 3.02% |
| $100k-200k | 220 | $33,280,000 | $151,273 | $2,419 | 3.07% |
| $400k-600k | 166 | $79,600,000 | $479,518 | $4,916 | 3.11% |
| $100,000 or less | 149 | $8,615,000 | $57,819 | $172 | 3.49% |
| $600k-1MM | 70 | $51,550,000 | $736,429 | $5,866 | 3.28% |
| $1MM+ | 54 | $202,500,000 | $3,750,000 | $8,050 | 3.38% |
2021 saw Provident Bank place emphasis on $200k-400k loans with 352 originations, totaling $100,230,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $150k-250k | 222 | $76,230,000 | $343,378 | $3,997 | 3.03% |
| $100k-150k | 204 | $48,000,000 | $235,294 | $2,889 | 3.12% |
| $75k-100k | 143 | $28,665,000 | $200,455 | $2,571 | 3.09% |
| $250k+ | 129 | $70,515,000 | $546,628 | $4,898 | 2.98% |
| $50k-75k | 102 | $15,150,000 | $148,529 | $2,518 | 3.08% |
| $50k or less | 51 | $5,755,000 | $112,843 | $1,521 | 3.16% |
Provident Bank lent most frequently to those with incomes in the $150k-250k range, with 222 originations. The second most popular income band? $100k-150k, with 204 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 235 | $60,225,000 | $256,277 | $3,149 | 3.02% |
| 30-36% | 191 | $58,035,000 | $303,848 | $3,330 | 3.06% |
| <20% | 92 | $31,490,000 | $342,283 | $3,697 | 2.98% |
| 44% | 40 | $7,970,000 | $199,250 | $2,038 | 3.30% |
| 41% | 35 | $10,335,000 | $295,286 | $3,014 | 3.02% |
| 43% | 34 | $9,410,000 | $276,765 | $2,927 | 3.22% |
| 39% | 34 | $8,650,000 | $254,412 | $3,194 | 3.13% |
| 40% | 34 | $9,770,000 | $287,353 | $3,642 | 3.17% |
| 38% | 33 | $9,945,000 | $301,364 | $3,715 | 3.00% |
| 36% | 33 | $9,685,000 | $293,485 | $3,744 | 2.93% |
| 37% | 21 | $4,985,000 | $237,381 | $3,203 | 3.23% |
| 42% | 19 | $5,785,000 | $304,474 | $3,471 | 3.15% |
| 45% | 18 | $6,360,000 | $353,333 | $3,778 | 3.06% |
| 47% | 12 | $4,410,000 | $367,500 | $2,764 | 3.15% |
| 50-60% | 9 | $2,115,000 | $235,000 | $1,224 | 3.24% |
| 49% | 6 | $2,000,000 | $333,333 | $2,560 | 3.19% |
| 46% | 4 | $1,670,000 | $417,500 | $4,157 | 3.03% |
| 48% | 3 | $645,000 | $215,000 | $3,599 | 3.38% |
| >60% | 2 | $1,590,000 | $795,000 | $7,422 | 2.94% |
Provident Bank lent most frequently to those with DTI ratios of 20-30%, with 235 originations. The next most common DTI ratio? 30-36%, with 191 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 142 | $224,170,000 | $1,578,662 | $0 | 3.65% |
| White | 686 | $196,860,000 | $286,968 | $3,287 | 3.10% |
| Asian | 88 | $29,630,000 | $336,705 | $3,750 | 2.86% |
| Not provided | 64 | $18,420,000 | $287,813 | $2,740 | 3.06% |
| Black | 23 | $4,255,000 | $185,000 | $1,885 | 3.19% |
| Asian Indian | 2 | $1,160,000 | $580,000 | $0 | 3.63% |
| American Indian | 5 | $1,125,000 | $225,000 | $3,248 | 3.00% |
| Native Hawaiian | 1 | $155,000 | $155,000 | $3,315 | 2.38% |
Approval Rates
Total approvals of all applications83.88%
Provident Bank has a below average approval rate.
Pick Rate
Approvals leading to origination77.71%
Provident Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,011 | $475,775,000 | $470,598 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1,011 | $475,775,000 | $470,598 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 177 | $37,555,000 | $212,175 | $2,217 | 3.09% |
| 40-60% | 257 | $96,365,000 | $374,961 | $3,482 | 3.02% |
| 60-80% | 396 | $282,340,000 | $712,980 | $4,566 | 3.17% |
| 80-100% | 60 | $28,610,000 | $476,833 | $5,197 | 3.04% |
| Over 100% | 4 | $22,370,000 | $5,592,500 | $0 | 3.58% |
| Under 20% | 115 | $7,775,000 | $67,609 | $229 | 3.53% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| PROVIDENT FUNDING ASSOCIATES | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 6 | 46.2% |
| PROVIDENT FUNDING ASSOCIATES | Conventional home mortgage | Closing on a mortgage | 1 | 7.7% |
| PROVIDENT FUNDING ASSOCIATES | Conventional home mortgage | Trouble during payment process | 6 | 46.2% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Provident Bank | 1 Plaza Drive Toms River, NJ 8757 | Full Service B&M | $100,585 |
| Provident Bank | 100 Bloomfield Avenue Bloomfield, NJ 7003 | Full Service B&M | $111,309 |
| Provident Bank | 100 Route 206 Augusta, NJ 7822 | Full Service B&M | $42,550 |
| Provident Bank | 100 Stelton Road Piscataway, NJ 8854 | Full Service B&M | $134,248 |
| Provident Bank | 100 Wood Avenue South Iselin, NJ 8830 | Full Service B&M | $219,011 |
| Provident Bank | 100 Wood Avenue South Iselin, NJ 8830 | Full Service B&M | $1,011,389 |
| Provident Bank | 1000 Avenue At Port Imperial Weehawken, NJ 7086 | Full Service B&M | $45,908 |
| Provident Bank | 1000 Woodbridge Center Drive Woodbridge, NJ 7095 | Full Service B&M | $114,970 |
| Provident Bank | 105 Chambers Bridge Road Brick, NJ 8723 | Full Service B&M | $104,264 |
| Provident Bank | 11 Broad Street Bloomfield, NJ 7003 | Full Service B&M | $164,403 |
| Provident Bank | 1139 Raritan Avenue Clark, NJ 7066 | Full Service B&M | $103,305 |
| Provident Bank | 115-119 Ferry Street Newark, NJ 7105 | Full Service B&M | $29,468 |
| Provident Bank | 1185 Sussex Turnpike Randolph, NJ 7869 | Full Service B&M | $127,690 |
| Provident Bank | 222 Halsey Street Newark, NJ 7102 | Full Service B&M | $22,658 |
| Provident Bank | 225 Prospect Plains Road Monroe Township, NJ 8831 | Full Service B&M | $110,096 |
| Provident Bank | 239 Washington St Jersey City, NJ 7302 | Full Service B&M | $148,536 |
| Provident Bank | 24 North Park Place Morristown, NJ 7960 | Full Service B&M | $72,404 |
| Provident Bank | 249 Kearny Ave Kearny, NJ 7032 | Full Service B&M | $71,180 |
| Provident Bank | 250 Madison Avenue Morristown, NJ 7960 | Full Service B&M | $186,601 |
| Provident Bank | 266 Clove Road Montague, NJ 7827 | Full Service B&M | $58,454 |
| Provident Bank | 2750 Route 27 North North Brunswick, NJ 8902 | Full Service B&M | $104,195 |
| Provident Bank | 278 Route 23 Sussex, NJ 7461 | Full Service B&M | $91,050 |
| Provident Bank | 28 West Main Street Somerville, NJ 8876 | Full Service B&M | $57,675 |
| Provident Bank | 28-21 Astoria Blvd. Astoria, NY 11102 | Full Service B&M | $108,107 |
| Provident Bank | 350 Communipaw Avenue Jersey City, NJ 7304 | Full Service B&M | $62,691 |
| Provident Bank | 3514 Route 9 South Freehold, NJ 7728 | Full Service B&M | $75,920 |
| Provident Bank | 3670 Kennedy Boulevard Jersey City, NJ 7307 | Full Service B&M | $118,519 |
| Provident Bank | 371 Spotswood Englishtown Road Monroe Township, NJ 8831 | Full Service B&M | $42,977 |
| Provident Bank | 3720 Bergenline Avenue Union City, NJ 7087 | Full Service B&M | $63,550 |
| Provident Bank | 381 Speedwell Avenue Morris Plains, NJ 7950 | Full Service B&M | $137,465 |
| Provident Bank | 3889 Route 516 Old Bridge, NJ 8857 | Full Service B&M | $128,915 |
| Provident Bank | 399 Route 23 Franklin, NJ 7416 | Full Service B&M | $127,457 |
| Provident Bank | 40 Main Ave Ocean Grove, NJ 7756 | Full Service B&M | $43,915 |
| Provident Bank | 401 Smith Road Parsippany, NJ 7054 | Full Service B&M | $161,346 |
| Provident Bank | 41 Broadway Denville, NJ 7834 | Full Service B&M | $172,810 |
| Provident Bank | 425 Route 206 Hillsborough, NJ 8844 | Full Service B&M | $148,008 |
| Provident Bank | 4285 W. Tilghman Street Allentown, PA 18104 | Full Service B&M | $34,924 |
| Provident Bank | 4331 Route 9 North And Pond Road Freehold, NJ 7728 | Full Service B&M | $94,292 |
| Provident Bank | 445 Route 34 Matawan, NJ 7747 | Full Service B&M | $55,592 |
| Provident Bank | 464 - 472 Avenue C Bayonne, NJ 7002 | Full Service B&M | $96,172 |
| Provident Bank | 464 Cedar Lane Teaneck, NJ 7666 | Full Service B&M | $167,436 |
| Provident Bank | 464 Eagle Rock Avenue West Orange, NJ 7052 | Full Service B&M | $50,866 |
| Provident Bank | 477 Union Avenue Bridgewater, NJ 8807 | Full Service B&M | $118,451 |
| Provident Bank | 4787 Freemansburg Avenue Easton, PA 18045 | Full Service B&M | $121,625 |
| Provident Bank | 490 Boulevard Kenilworth, NJ 7033 | Full Service B&M | $53,016 |
| Provident Bank | 509 Route 130 East Windsor, NJ 8520 | Full Service B&M | $110,939 |
| Provident Bank | 533 Bergen Avenue Jersey City, NJ 7304 | Full Service B&M | $19,364 |
| Provident Bank | 12-79 River Road Fair Lawn, NJ 7410 | Full Service B&M | $56,253 |
| Provident Bank | 1220 Green Street Iselin, NJ 8830 | Full Service B&M | $136,138 |
| Provident Bank | 125 West Pleasant Avenue Maywood, NJ 7607 | Full Service B&M | $154,173 |
| Provident Bank | 1260 Broad Street Bloomfield, NJ 7003 | Full Service B&M | $119,002 |
| Provident Bank | 15 Trinity Street Newton, NJ 7860 | Full Service B&M | $154,203 |
| Provident Bank | 1502 Route 35 South Ocean Township, NJ 7712 | Full Service B&M | $134,969 |
| Provident Bank | 1553 Kennedy Boulevard Jersey City, NJ 7305 | Full Service B&M | $145,705 |
| Provident Bank | 1580 Route 35 Middletown, NJ 7748 | Full Service B&M | $53,928 |
| Provident Bank | 159 South Orange Avenue South Orange, NJ 7079 | Full Service B&M | $63,085 |
| Provident Bank | 161 Eagle Rock Avenue Roseland, NJ 7068 | Full Service B&M | $115,182 |
| Provident Bank | 166 Ridgedale Avenue Morristown, NJ 7960 | Full Service B&M | $58,198 |
| Provident Bank | 190 Roseberry Street Phillipsburg, NJ 8865 | Full Service B&M | $103,438 |
| Provident Bank | 190 Wilson Ave Newark, NJ 7105 | Full Service B&M | $43,216 |
| Provident Bank | 1901 Hamilton Street Allentown, PA 18104 | Full Service B&M | $48,811 |
| Provident Bank | 2015 Route 35 South Wall Township, NJ 7719 | Full Service B&M | $116,919 |
| Provident Bank | 205 Main Street Manasquan, NJ 8736 | Full Service B&M | $55,687 |
| Provident Bank | 206 South Avenue Fanwood, NJ 7023 | Full Service B&M | $56,736 |
| Provident Bank | 208-218 Washington Avenue Belleville, NJ 7109 | Full Service B&M | $82,664 |
| Provident Bank | 21 Washington Avenue Dumont, NJ 7628 | Full Service B&M | $74,168 |
| Provident Bank | 210 Penns Trail Ste. 104 Newtown, PA 18940 | Full Service B&M | $59,002 |
| Provident Bank | 210 Rochelle Avenue Rochelle Park, NJ 7662 | Full Service B&M | $110,609 |
| Provident Bank | 2100 Oak Tree Road Edison, NJ 8820 | Full Service B&M | $140,318 |
| Provident Bank | 2162 Rt. 206 South Belle Mead, NJ 8502 | Full Service B&M | $41,661 |
| Provident Bank | 296 Kinderkamack Road Oradell, NJ 7649 | Full Service B&M | $170,977 |
| Provident Bank | 30 Route 31 Flemington, NJ 8822 | Full Service B&M | $209,218 |
| Provident Bank | 301-303 Raritan Avenue Highland Park, NJ 8904 | Full Service B&M | $50,732 |
| Provident Bank | 308 Rues Lane East Brunswick, NJ 8816 | Full Service B&M | $164,932 |
| Provident Bank | 320-322 Broad Avenue Leonia, NJ 7605 | Full Service B&M | $57,871 |
| Provident Bank | 325 Amboy Avenue Woodbridge, NJ 7095 | Full Service B&M | $106,754 |
| Provident Bank | 33 Main Street Sparta, NJ 7871 | Full Service B&M | $76,724 |
| Provident Bank | 333 North Avenue Dunellen, NJ 8812 | Full Service B&M | $122,552 |
| Provident Bank | 339 State Street Perth Amboy, NJ 8861 | Full Service B&M | $83,716 |
| Provident Bank | 340 Route 46 East Dover, NJ 7801 | Full Service B&M | $127,723 |
| Provident Bank | 345 Franklin Ave Wyckoff, NJ 7481 | Full Service B&M | $9,908 |
| Provident Bank | 562 Lexington Avenue Clifton, NJ 7011 | Full Service B&M | $96,286 |
| Provident Bank | 569 Broadway Bayonne, NJ 7002 | Full Service B&M | $65,596 |
| Provident Bank | 573 North Main Street Doylestown, PA 18901 | Full Service B&M | $69,159 |
| Provident Bank | 599 Middlesex Avenue Metuchen, NJ 8840 | Full Service B&M | $78,975 |
| Provident Bank | 6 Jackson Street South River, NJ 8882 | Full Service B&M | $158,395 |
| Provident Bank | 600 Washington Avenue South Amboy, NJ 8879 | Full Service B&M | $92,127 |
| Provident Bank | 6002 Broadway West New York, NJ 7093 | Limited, Drive-thru | $0 |
| Provident Bank | 604-610 Laurel Avenue Point Pleasant Beach, NJ 8742 | Full Service B&M | $41,473 |
| Provident Bank | 6141 Bergenline Avenue West New York, NJ 7093 | Full Service B&M | $93,256 |
| Provident Bank | 65 South Street New Providence, NJ 7974 | Full Service B&M | $103,430 |
| Provident Bank | 7 Church Street Vernon, NJ 7462 | Full Service B&M | $54,236 |
| Provident Bank | 765 Poole Avenue Hazlet, NJ 7730 | Full Service B&M | $98,220 |
| Provident Bank | 77 River Street Hoboken, NJ 7030 | Full Service B&M | $44,460 |
| Provident Bank | 895 Bergen Avenue Jersey City, NJ 7306 | Full Service B&M | $143,267 |
| Provident Bank | 930 North Washington Avenue Green Brook, NJ 8812 | Full Service B&M | $55,629 |
| Provident Bank | 95 East Main Street Mendham, NJ 7945 | Full Service B&M | $64,139 |
| Provident Bank | 97 North Main Street Milltown, NJ 8850 | Full Service B&M | $149,481 |
| Provident Bank | 98 Main Street Madison, NJ 7940 | Full Service B&M | $154,798 |
| Provident Bank | 980 Amboy Avenue Edison, NJ 8837 | Full Service B&M | $227,656 |
For 2021, Provident Bank had 100 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $402,339 |
| Net interest income | $366,189 |
| Total noninterest income | $86,238 |
| Gross Fiduciary activities income | $2,835 |
| Service charges on deposit accounts | $10,770 |
| Trading account gains and fees | $727 |
| Additional Noninterest Income | $71,906 |
| Pre-tax net operating income | $228,154 |
| Securities gains (or losses, -) | $255 |
| Income before extraordinary items | $169,212 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $169,212 |
| Minority interest net income | $0 |
| Net income | $169,212 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $169,010 |
Provident Bank's gross interest income from loans was $402,339,000.
Provident Bank's net interest income from loans was $366,189,000.
Provident Bank's fee based income from loans was $10,770,000.
Provident Bank's net income from loans was $169,212,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $36,150 |
| Provision for credit losses | $-24,339 |
| Total noninterest expense | $248,612 |
| Salaries and employee benefits | $143,366 |
| Premises and equipment expense | $32,932 |
| Additional noninterest expense | $72,314 |
| Applicable income taxes | $59,197 |
| Net charge-offs | $-3,574 |
| Cash dividends | $102,014 |
Provident Bank's interest expense for loans was $36,150,000.
Provident Bank's payroll and benefits expense were $143,366,000.
Provident Bank's property, plant and equipment expenses $32,932,000.
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 | 0.0% |
| HELOC loans | 0.0% |
| All other family | 0.0% |
| 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 | $11,280,950 |
| Deposits held in domestic offices | $11,280,950 |
| Deposits by Individuals, partnerships, and corporations | $9,382,705 |
| Deposits by U.S. Government | $4 |
| Deposits by States and political subdivisions in the U.S. | $1,898,241 |
| Deposits by Commercial banks and other depository institutions in U.S. | $0 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $1,816,464 |
| Demand deposits | $710,474 |
| Nontransaction accounts | $9,464,486 |
| Money market deposit accounts (MMDAs) | $2,591,677 |
| Other savings deposits (excluding MMDAs) | $6,180,293 |
| Total time deposits | $692,516 |
| Total time and savings deposits | $10,570,476 |
| Noninterest-bearing deposits | $2,796,738 |
| Interest-bearing deposits | $8,484,212 |
| Retail deposits | $10,581,688 |
| IRAs and Keogh plan accounts | $128,717 |
| Brokered deposits | $732,347 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $13,775,421 |
| Cash & Balances due from depository institutions | $506,270 |
| Interest-bearing balances | $399,316 |
| Total securities | $2,494,027 |
| Federal funds sold & reverse repurchase | $206,168 |
| Net loans and leases | $9,500,884 |
| Loan and leases loss allowance | $80,740 |
| Trading account assets | $65,903 |
| Bank premises and fixed assets | $129,368 |
| Other real estate owned | $8,731 |
| Goodwill and other intangibles | $464,183 |
| All other assets | $399,887 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $13,775,421 |
| Total Liabilities | $12,143,731 |
| Total deposits | $11,280,950 |
| Interest-bearing deposits | $8,484,212 |
| Deposits held in domestic offices | $11,280,950 |
| % insured (estimated) | $53 |
| Federal funds purchased and repurchase agreements | $116,760 |
| Trading liabilities | $61,412 |
| Other borrowed funds | $579,865 |
| Subordinated debt | $0 |
| All other liabilities | $104,744 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $9,500,884 |
| Loan and leases loss allowance | $80,740 |
| Total loans and leases (domestic) | $9,581,624 |
| All real estate loans | $8,633,835 |
| Real estate loans in domestic offices | $8,633,835 |
| Construction and development loans | $746,644 |
| Residential 1-4 family construction | $21,286 |
| Other construction, all land development and other land | $725,358 |
| Loans secured by nonfarm nonresidential properties | $4,920,524 |
| Nonfarm nonresidential secured by owner-occupied properties | $1,246,123 |
| Commercial real estate & other non-farm, non-residential | $3,674,401 |
| Multifamily residential real estate | $1,364,397 |
| 1-4 family residential loans | $1,602,093 |
| Farmland loans | $177 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $864,143 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $22,682 |
| Credit card loans | $0 |
| Related Plans | $950 |
| Consumer Auto Loans | $47 |
| Other loans to individuals | $21,685 |
| All other loans & leases | $60,969 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $0 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $85,213 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $21,056 |
| Non 1-4 family restructured loans & leases | $4,473 |
| Total loans and leases (foreign) | $0 |
Provident Bank had $9,500,884,000 of loans outstanding in 2021. $8,633,835,000 of loans were in real estate loans. $746,644,000 of loans were in development loans. $1,364,397,000 of loans were in multifamily mortgage loans. $1,602,093,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $47,000 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 | 1,644 | $560,280 | $340,803 |
| Nonfarm, nonresidential loans - <$100k | 141 | $3,773 | $26,759 |
| Nonfarm, nonresidential loans - $100-250k | 323 | $38,447 | $119,031 |
| Nonfarm, nonresidential loans - $250k-1MM | 1,180 | $518,060 | $439,034 |
| Commercial & Industrial, US addressed loans - <$1MM | 2,886 | $189,909 | $65,804 |
| Commercial & Industrial, US addressed loans - <$100k | 1,577 | $11,241 | $7,128 |
| Commercial & Industrial, US addressed loans - $100-250k | 575 | $30,078 | $52,310 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 734 | $148,590 | $202,439 |
| Farmland loans - <$1MM | 1 | $126 | $126,000 |
| Farmland loans - $100-250k | 1 | $126 | $126,000 |
