Progressive Bank Mortgage Rates, Fees & Info

Monroe, LA

LEI: 54930074GUKXKBKNQI12

Tax ID: 72-0768210

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & Overview

Progressive Bank is a smaller bank specializing in Refi loans. Progressive Bank has a high proportion of conventional loans. Their top markets by origination volume include: Monroe, Shreveport, Ruston, Daphne, and Breckenridge among others. We have data for 19 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.

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Originations

147

Origination Dollar Volume (All Markets)

$70,105,000

Employee count

134

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)	72	$40,850,000	$567,361	$0	0.00%
SHREVEPORT-BOSSIER CITY, LA (FHA\|USDA\|VA)	41	$15,995,000	$390,122	$0	0.00%
Outside of Metro Areas	11	$2,825,000	$256,818	$0	0.00%
Ruston, LA (FHA\|USDA\|VA)	5	$2,025,000	$405,000	$0	0.00%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA\|USDA\|VA)	2	$1,170,000	$585,000	$0	0.00%
Breckenridge, CO (FHA\|USDA\|VA)	1	$1,005,000	$1,005,000	$0	0.00%
Natchez, MS-LA (FHA\|USDA\|VA)	1	$935,000	$935,000	$0	0.00%
TEXARKANA, TX-AR (FHA\|USDA\|VA)	1	$855,000	$855,000	$0	0.00%
ALEXANDRIA, LA (FHA\|USDA\|VA)	1	$705,000	$705,000	$0	0.00%
Cullowhee, NC (FHA\|USDA\|VA)	1	$675,000	$675,000	$0	0.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA\|USDA\|VA)	1	$665,000	$665,000	$0	0.00%
LONGVIEW, TX (FHA\|USDA\|VA)	2	$540,000	$270,000	$0	0.00%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA\|USDA\|VA)	1	$505,000	$505,000	$0	0.00%
BATON ROUGE, LA (FHA\|USDA\|VA)	2	$410,000	$205,000	$0	0.00%
Searcy, AR (FHA\|USDA\|VA)	1	$235,000	$235,000	$0	0.00%
Dallas-Fort Worth-Arlington, TX (FHA\|USDA\|VA)	1	$235,000	$235,000	$0	0.00%
HATTIESBURG, MS (FHA\|USDA\|VA)	1	$215,000	$215,000	$0	0.00%
El Dorado, AR (FHA\|USDA\|VA)	1	$185,000	$185,000	$0	0.00%
PENSACOLA-FERRY PASS-BRENT, FL (FHA\|USDA\|VA)	1	$75,000	$75,000	$0	0.00%

Progressive Bank's top markets include Monroe, Shreveport, Ruston, Daphne, and Breckenridge among others.

Their top states include:

Louisiana (FHA|USDA|VA)

Arkansas (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Alabama (FHA|USDA|VA)

Colorado (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	147	$70,105,000	$476,905	$0	0.00%

For 2020, Progressive Bank's most frequently originated type of loan was Conventional, with 147 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Refi	102	$54,440,000	$533,725	$0	0.00%
Home Purchase	40	$13,950,000	$348,750	$0	0.00%
Other	4	$1,710,000	$427,500	$0	0.00%
Home Improvement	1	$5,000	$5,000	$0	0.00%

For 2020, Progressive Bank's most frequently cited loan purpose was Refi, with 102 originations. The 2nd most popular reason was Home Purchase, with 40 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	147	$70,105,000	$476,905	$0	0.00%

For 2020, Progressive Bank's most frequently cited loan duration was Other, with 147 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$600k-1MM	34	$25,010,000	$735,588	$0	0.00%
$200k-400k	33	$9,355,000	$283,485	$0	0.00%
$100,000 or less	32	$1,760,000	$55,000	$0	0.00%
$100k-200k	20	$2,980,000	$149,000	$0	0.00%
$400k-600k	18	$8,760,000	$486,667	$0	0.00%
$1MM+	10	$22,240,000	$2,224,000	$0	0.00%

2020 saw Progressive Bank place emphasis on $600k-1MM loans with 34 originations, totaling $25,010,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$250k+	66	$37,270,000	$564,697	$0	0.00%
$150k-250k	18	$8,520,000	$473,333	$0	0.00%
$100k-150k	10	$1,820,000	$182,000	$0	0.00%
$50k-75k	7	$1,025,000	$146,429	$0	0.00%
$50k or less	6	$250,000	$41,667	$0	0.00%
$75k-100k	4	$690,000	$172,500	$0	0.00%

Progressive Bank lent most frequently to those with incomes in the $250k+ range, with 66 originations. The second most popular income band? $150k-250k, with 18 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	147	$70,105,000	$476,905	$0	0.00%

Progressive Bank lent most frequently to those with DTI ratios of Exempt%, with 147 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	93	$43,775,000	$470,699	$0	0.00%
Not applicable	35	$20,185,000	$576,714	$0	0.00%
Not provided	13	$3,385,000	$260,385	$0	0.00%
Black	4	$2,230,000	$557,500	$0	0.00%
Asian	1	$455,000	$455,000	$0	0.00%
Asian Indian	1	$75,000	$75,000	$0	0.00%

Approval Rates

Total approvals of all applications
86.89%

Progressive Bank has an average approval rate.

Pick Rate

Approvals leading to origination
44.22%

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	147	$70,105,000	$476,905

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	9	$14,385,000	$1,598,333
Single Family (1-4 Units):Manufactured	3	$185,000	$61,667
Single Family (1-4 Units):Site-Built	135	$55,535,000	$411,370

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Progressive Bank	1380 Lamy Lane Monroe, LA 71201	Full Service B&M	$16,413
Progressive Bank	1411 North 19th Street Monroe, LA 71201	Full Service B&M	$285,102
Progressive Bank	2600 Beene Blvd Bossier City, LA 71111	Full Service B&M	$74,045
Progressive Bank	301 Fair Avenue Winnsboro, LA 71295	Full Service B&M	$34,768
Progressive Bank	3421 Cypress Street West Monroe, LA 71291	Full Service B&M	$49,587
Progressive Bank	4523 Youree Drive Shreveport, LA 71105	Full Service B&M	$16,439
Progressive Bank	701 Trenton Street West Monroe, LA 71291	Full Service B&M	$34,034
Progressive Bank	8550 Fern Avenue Shreveport, LA 71105	Full Service B&M	$81,391
Progressive Bank	9405 Ellerbe Road Shreveport, LA 71106	Full Service B&M	$3,516

For 2020, Progressive Bank had 9 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$25,987
Net interest income	$23,213
Total noninterest income	$4,342
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$1,267
Trading account gains and fees	$0
Additional Noninterest Income	$3,075
Pre-tax net operating income	$2,663
Securities gains (or losses, -)	$0
Income before extraordinary items	$2,165
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$2,165
Minority interest net income	$0
Net income	$2,165
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$2,165

Progressive Bank's gross interest income from loans was $25,987,000.
Progressive Bank's net interest income from loans was $23,213,000.
Progressive Bank's fee based income from loans was $1,267,000.
Progressive Bank's net income from loans was $2,165,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$2,774
Provision for credit losses	$3,960
Total noninterest expense	$20,932
Salaries and employee benefits	$12,585
Premises and equipment expense	$2,975
Additional noninterest expense	$5,372
Applicable income taxes	$498
Net charge-offs	$1,722
Cash dividends	$0

Progressive Bank's interest expense for loans was $2,774,000.
Progressive Bank's payroll and benefits expense were $12,585,000.
Progressive Bank's property, plant and equipment expenses $2,975,000.

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	$588,182
Deposits held in domestic offices	$588,182
Deposits by Individuals, partnerships, and corporations	$567,870
Deposits by U.S. Government	$87
Deposits by States and political subdivisions in the U.S.	$19,987
Deposits by Commercial banks and other depository institutions in U.S.	$239
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$49,272
Demand deposits	$34,713
Nontransaction accounts	$538,911
Money market deposit accounts (MMDAs)	$178,101
Other savings deposits (excluding MMDAs)	$295,953
Total time deposits	$64,857
Total time and savings deposits	$553,470
Noninterest-bearing deposits	$230,107
Interest-bearing deposits	$358,075
Retail deposits	$562,741
IRAs and Keogh plan accounts	$4,853
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$729,741
Cash & Balances due from depository institutions	$92,195
Interest-bearing balances	$83,165
Total securities	$59,027
Federal funds sold & reverse repurchase	$0
Net loans and leases	$538,568
Loan and leases loss allowance	$7,328
Trading account assets	$0
Bank premises and fixed assets	$19,578
Other real estate owned	$955
Goodwill and other intangibles	$0
All other assets	$19,418

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$729,741
Total Liabilities	$666,334
Total deposits	$588,182
Interest-bearing deposits	$358,075
Deposits held in domestic offices	$588,182
% insured (estimated)	$62
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$71,087
Subordinated debt	$0
All other liabilities	$7,065

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$538,568
Loan and leases loss allowance	$7,328
Total loans and leases (domestic)	$545,896
All real estate loans	$421,635
Real estate loans in domestic offices	$421,635
Construction and development loans	$62,445
Residential 1-4 family construction	$9,934
Other construction, all land development and other land	$52,511
Loans secured by nonfarm nonresidential properties	$172,656
Nonfarm nonresidential secured by owner-occupied properties	$57,894
Commercial real estate & other non-farm, non-residential	$114,762
Multifamily residential real estate	$18,105
1-4 family residential loans	$122,989
Farmland loans	$45,440
Loans held in foreign offices	$0
Farm loans	$5,090
Commercial and industrial loans	$108,993
To non-U.S. addressees	$0
Loans to individuals	$6,414
Credit card loans	$0
Related Plans	$5,138
Consumer Auto Loans	$104
Other loans to individuals	$1,172
All other loans & leases	$3,764
Loans to foreign governments and official institutions	$0
Other loans	$3,764
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	$0
Non 1-4 family restructured loans & leases	$0
Total loans and leases (foreign)	$0

Progressive Bank had $538,568,000 of loans outstanding in 2020. $421,635,000 of loans were in real estate loans. $62,445,000 of loans were in development loans. $18,105,000 of loans were in multifamily mortgage loans. $122,989,000 of loans were in 1-4 family mortgage loans. $5,090,000 of loans were in farm loans. $0 of loans were in credit card loans. $104,000 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	192	$53,771	$280,057
Nonfarm, nonresidential loans - <$100k	34	$1,622	$47,706
Nonfarm, nonresidential loans - $100-250k	52	$7,109	$136,712
Nonfarm, nonresidential loans - $250k-1MM	106	$45,040	$424,906
Commercial & Industrial, US addressed loans - <$1MM	1,031	$78,779	$76,410
Commercial & Industrial, US addressed loans - <$100k	723	$19,521	$27,000
Commercial & Industrial, US addressed loans - $100-250k	180	$19,502	$108,344
Commercial & Industrial, US addressed loans - $250k-1MM	128	$39,756	$310,594
Farmland loans - <$1MM	74	$11,412	$154,216
Farmland loans - <$100k	25	$1,052	$42,080
Farmland loans - $100-250k	25	$3,331	$133,240
Farmland loans - $250k-1MM	24	$7,029	$292,875
Agriculture operations loans - <$1MM	25	$998	$39,920
Agriculture operations loans - <$100k	19	$359	$18,895
Agriculture operations loans - $100-250k	3	$262	$87,333
Agriculture operations loans - $250k-1MM	3	$377	$125,667