Progressive Bank Mortgage Rates, Fees & Info

Monroe, LA

LEI: 54930074GUKXKBKNQI12

Tax ID: 72-0768210

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Progressive Bank is a smaller bank specializing in Refi and Home Purchase loans. Progressive Bank has a high proportion of conventional loans. Their top markets by origination volume include: Monroe, Baton Rouge, Shreveport, New Orleans, and Ruston among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Progressive 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.

    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

    78

    Origination Dollar Volume (All Markets)

    $25,610,000

    Employee count

    128

    Top 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
    MONROE, LA (FHA|USDA|VA) 38 $11,040,000 $290,526 $0 0.00%
    BATON ROUGE, LA (FHA|USDA|VA) 2 $6,750,000 $3,375,000 $0 0.00%
    SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 20 $4,570,000 $228,500 $0 0.00%
    NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 2 $1,400,000 $700,000 $0 0.00%
    Outside of Metro Areas 9 $805,000 $89,444 $0 0.00%
    Ruston, LA (FHA|USDA|VA) 3 $565,000 $188,333 $0 0.00%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
    Oxford, MS (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
    Minden, LA (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
    Natchez, MS-LA (FHA|USDA|VA) 1 $15,000 $15,000 $0 0.00%
    Progressive Bank's top markets include Monroe, Baton Rouge, Shreveport, New Orleans, and Ruston among others.

    Their top states include:
  • Louisiana (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Mississippi (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 78 $25,610,000 $328,333 $0 0.00%

    For 2018, Progressive Bank's most frequently originated type of loan was Conventional, with 78 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 40 $17,430,000 $435,750 $0 0.00%
    Home Purchase 36 $7,950,000 $220,833 $0 0.00%
    Home Improvement 1 $185,000 $185,000 $0 0.00%
    Other 1 $45,000 $45,000 $0 0.00%

    For 2018, Progressive Bank's most frequently cited loan purpose was Refi, with 40 originations. The 2nd most popular reason was Home Purchase, with 36 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 78 $25,610,000 $328,333 $0 0.00%

    For 2018, Progressive Bank's most frequently cited loan duration was Other, with 78 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 29 $1,315,000 $45,345 $0 0.00%
    $100k-200k 18 $2,650,000 $147,222 $0 0.00%
    $200k-400k 15 $4,255,000 $283,667 $0 0.00%
    $600k-1MM 7 $4,895,000 $699,286 $0 0.00%
    $400k-600k 5 $2,395,000 $479,000 $0 0.00%
    $1MM+ 4 $10,100,000 $2,525,000 $0 0.00%

    2018 saw Progressive Bank place emphasis on $100,000 or less loans with 29 originations, totaling $1,315,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 15 $7,975,000 $531,667 $0 0.00%
    $100k-150k 9 $1,175,000 $130,556 $0 0.00%
    $150k-250k 8 $2,190,000 $273,750 $0 0.00%
    $50k or less 6 $250,000 $41,667 $0 0.00%
    $50k-75k 5 $705,000 $141,000 $0 0.00%
    $75k-100k 3 $465,000 $155,000 $0 0.00%

    Progressive Bank lent most frequently to those with incomes in the $250k+ range, with 15 originations. The second most popular income band? $100k-150k, with 9 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 78 $25,610,000 $328,333 $0 0.00%

    Progressive Bank lent most frequently to those with DTI ratios of Exempt%, with 78 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 43 $12,915,000 $300,349 $0 0.00%
    Not applicable 31 $12,455,000 $401,774 $0 0.00%
    Asian 2 $140,000 $70,000 $0 0.00%
    Black 1 $65,000 $65,000 $0 0.00%
    Not provided 1 $35,000 $35,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    82.98%

    Progressive Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    53.85%

    Progressive Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 78 $25,610,000 $328,333

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 7 $9,355,000 $1,336,429
    Single Family (1-4 Units):Manufactured 2 $110,000 $55,000
    Single Family (1-4 Units):Site-Built 69 $16,145,000 $233,986

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Progressive Bank 1380 Lamy Lane Monroe, LA 71201 Full Service B&M $13,347
    Progressive Bank 1411 North 19th Street Monroe, LA 71201 Full Service B&M $253,046
    Progressive Bank 2600 Beene Blvd Bossier City, LA 71111 Full Service B&M $49,590
    Progressive Bank 301 Fair Avenue Winnsboro, LA 71295 Full Service B&M $29,026
    Progressive Bank 3421 Cypress Street West Monroe, LA 71291 Full Service B&M $38,809
    Progressive Bank 701 Trenton Street West Monroe, LA 71291 Full Service B&M $17,468
    Progressive Bank 8550 Fern Avenue Shreveport, LA 71105 Full Service B&M $79,351

    For 2018, Progressive Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $23,970
    Net interest income $20,772
    Total noninterest income $4,107
    Gross Fiduciary activities income $91
    Service charges on deposit accounts $1,632
    Trading account gains and fees $0
    Additional Noninterest Income $2,384
    Pre-tax net operating income $5,624
    Securities gains (or losses, -) $0
    Income before extraordinary items $4,657
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,657
    Minority interest net income $0
    Net income $4,657
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,657

    Progressive Bank's gross interest income from loans was $23,970,000.
    Progressive Bank's net interest income from loans was $20,772,000.
    Progressive Bank's fee based income from loans was $1,632,000.
    Progressive Bank's net income from loans was $4,657,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,198
    Provision for credit losses $347
    Total noninterest expense $18,908
    Salaries and employee benefits $10,756
    Premises and equipment expense $2,490
    Additional noninterest expense $5,662
    Applicable income taxes $967
    Net charge-offs $357
    Cash dividends $3,240

    Progressive Bank's interest expense for loans was $3,198,000.
    Progressive Bank's payroll and benefits expense were $10,756,000.
    Progressive Bank's property, plant and equipment expenses $2,490,000.

    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 $472,065
    Deposits held in domestic offices $472,065
    Deposits by Individuals, partnerships, and corporations $445,594
    Deposits by U.S. Government $207
    Deposits by States and political subdivisions in the U.S. $26,263
    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 $47,793
    Demand deposits $30,911
    Nontransaction accounts $424,271
    Money market deposit accounts (MMDAs) $111,387
    Other savings deposits (excluding MMDAs) $219,339
    Total time deposits $93,545
    Total time and savings deposits $441,153
    Noninterest-bearing deposits $180,730
    Interest-bearing deposits $291,335
    Retail deposits $441,511
    IRAs and Keogh plan accounts $4,296
    Brokered deposits $5,000
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $563,401
    Cash & Balances due from depository institutions $12,865
    Interest-bearing balances $4,710
    Total securities $69,916
    Federal funds sold & reverse repurchase $0
    Net loans and leases $444,278
    Loan and leases loss allowance $4,896
    Trading account assets $0
    Bank premises and fixed assets $17,421
    Other real estate owned $162
    Goodwill and other intangibles $0
    All other assets $18,759

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $563,401
    Total Liabilities $502,435
    Total deposits $472,065
    Interest-bearing deposits $291,335
    Deposits held in domestic offices $472,065
    % insured (estimated) $66
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $25,238
    Subordinated debt $0
    All other liabilities $5,132

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $444,278
    Loan and leases loss allowance $4,896
    Total loans and leases (domestic) $449,174
    All real estate loans $371,127
    Real estate loans in domestic offices $371,127
    Construction and development loans $45,526
    Residential 1-4 family construction $10,823
    Other construction, all land development and other land $34,703
    Loans secured by nonfarm nonresidential properties $157,867
    Nonfarm nonresidential secured by owner-occupied properties $24,978
    Commercial real estate & other non-farm, non-residential $132,889
    Multifamily residential real estate $12,508
    1-4 family residential loans $107,295
    Farmland loans $47,931
    Loans held in foreign offices $0
    Farm loans $3,353
    Commercial and industrial loans $68,757
    To non-U.S. addressees $0
    Loans to individuals $5,818
    Credit card loans $0
    Related Plans $4,520
    Consumer Auto Loans $77
    Other loans to individuals $1,221
    All other loans & leases $118
    Loans to foreign governments and official institutions $0
    Other loans $118
    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 $943
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Progressive Bank had $444,278,000 of loans outstanding in 2018. $371,127,000 of loans were in real estate loans. $45,526,000 of loans were in development loans. $12,508,000 of loans were in multifamily mortgage loans. $107,295,000 of loans were in 1-4 family mortgage loans. $3,353,000 of loans were in farm loans. $0 of loans were in credit card loans. $77,000 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 190 $49,241 $259,163
    Nonfarm, nonresidential loans - <$100k 35 $1,690 $48,286
    Nonfarm, nonresidential loans - $100-250k 61 $7,727 $126,672
    Nonfarm, nonresidential loans - $250k-1MM 94 $39,824 $423,660
    Commercial & Industrial, US addressed loans - <$1MM 459 $42,440 $92,462
    Commercial & Industrial, US addressed loans - <$100k 262 $6,924 $26,427
    Commercial & Industrial, US addressed loans - $100-250k 114 $11,093 $97,307
    Commercial & Industrial, US addressed loans - $250k-1MM 83 $24,423 $294,253
    Farmland loans - <$1MM 69 $11,191 $162,188
    Farmland loans - <$100k 20 $749 $37,450
    Farmland loans - $100-250k 21 $2,751 $131,000
    Farmland loans - $250k-1MM 28 $7,691 $274,679
    Agriculture operations loans - <$1MM 25 $1,516 $60,640
    Agriculture operations loans - <$100k 18 $519 $28,833
    Agriculture operations loans - $100-250k 3 $143 $47,667
    Agriculture operations loans - $250k-1MM 4 $854 $213,500