Providence Bank Mortgage Rates, Fees & Info

Rocky Mount, NC

LEI: 54930084GJFEXBIOGU45

Tax ID: 20-4006556

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Providence Bank is a smaller bank specializing in various types of mortgages.



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    Originations

    0

    Origination Dollar Volume (All Markets)

    $0

    Employee count

    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)
    Providence Bank 100 E. Six Forks Road, Suite 304 Raleigh, NC 27609 Full Service B&M $5,567
    Providence Bank 2401 Sunset Avenue Rocky Mount, NC 27804 Full Service B&M $75,982
    Providence Bank 241 W. Washington Street Nashville, NC 27856 Full Service B&M $51,976
    Providence Bank 325 Main Street Tarboro, NC 27886 Full Service B&M $73,303
    Providence Bank 3710 West Nash Street Wilson, NC 27896 Full Service B&M $117,374
    Providence Bank 450 N Winstead Ave Rocky Mount, NC 27804 Full Service B&M $174,134

    For 2021, Providence Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $26,901
    Net interest income $22,294
    Total noninterest income $1,247
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $76
    Trading account gains and fees $0
    Additional Noninterest Income $1,171
    Pre-tax net operating income $13,376
    Securities gains (or losses, -) $17
    Income before extraordinary items $10,607
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $10,607
    Minority interest net income $0
    Net income $10,607
    Sale, conversion, retirement of capital stock, net $150
    Net operating income $10,593

    Providence Bank's gross interest income from loans was $26,901,000.
    Providence Bank's net interest income from loans was $22,294,000.
    Providence Bank's fee based income from loans was $76,000.
    Providence Bank's net income from loans was $10,607,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,607
    Provision for credit losses $969
    Total noninterest expense $9,196
    Salaries and employee benefits $5,330
    Premises and equipment expense $568
    Additional noninterest expense $3,298
    Applicable income taxes $2,786
    Net charge-offs $20
    Cash dividends $2,330

    Providence Bank's interest expense for loans was $4,607,000.
    Providence Bank's payroll and benefits expense were $5,330,000.
    Providence Bank's property, plant and equipment expenses $568,000.

    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 $575,454
    Deposits held in domestic offices $575,454
    Deposits by Individuals, partnerships, and corporations $545,148
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $24,492
    Deposits by Commercial banks and other depository institutions in U.S. $5,814
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $50,336
    Demand deposits $18,334
    Nontransaction accounts $525,118
    Money market deposit accounts (MMDAs) $61,298
    Other savings deposits (excluding MMDAs) $270,986
    Total time deposits $192,834
    Total time and savings deposits $557,120
    Noninterest-bearing deposits $109,827
    Interest-bearing deposits $465,627
    Retail deposits $521,290
    IRAs and Keogh plan accounts $12,076
    Brokered deposits $20,732
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $702,032
    Cash & Balances due from depository institutions $40,612
    Interest-bearing balances $33,480
    Total securities $83,922
    Federal funds sold & reverse repurchase $1,829
    Net loans and leases $545,119
    Loan and leases loss allowance $5,541
    Trading account assets $0
    Bank premises and fixed assets $2,368
    Other real estate owned $0
    Goodwill and other intangibles $4,324
    All other assets $23,858

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $702,032
    Total Liabilities $622,023
    Total deposits $575,454
    Interest-bearing deposits $465,627
    Deposits held in domestic offices $575,454
    % insured (estimated) $70
    Federal funds purchased and repurchase agreements $2,968
    Trading liabilities $0
    Other borrowed funds $40,000
    Subordinated debt $0
    All other liabilities $3,601

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $545,119
    Loan and leases loss allowance $5,541
    Total loans and leases (domestic) $550,660
    All real estate loans $488,781
    Real estate loans in domestic offices $488,781
    Construction and development loans $122,698
    Residential 1-4 family construction $32,936
    Other construction, all land development and other land $89,762
    Loans secured by nonfarm nonresidential properties $240,054
    Nonfarm nonresidential secured by owner-occupied properties $61,893
    Commercial real estate & other non-farm, non-residential $178,161
    Multifamily residential real estate $58,028
    1-4 family residential loans $61,679
    Farmland loans $6,322
    Loans held in foreign offices $0
    Farm loans $1,226
    Commercial and industrial loans $55,008
    To non-U.S. addressees $0
    Loans to individuals $5,017
    Credit card loans $0
    Related Plans $141
    Consumer Auto Loans $306
    Other loans to individuals $4,570
    All other loans & leases $628
    Loans to foreign governments and official institutions $0
    Other loans $415
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $193
    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

    Providence Bank had $545,119,000 of loans outstanding in 2021. $488,781,000 of loans were in real estate loans. $122,698,000 of loans were in development loans. $58,028,000 of loans were in multifamily mortgage loans. $61,679,000 of loans were in 1-4 family mortgage loans. $1,226,000 of loans were in farm loans. $0 of loans were in credit card loans. $306,000 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 239 $59,757 $250,029
    Nonfarm, nonresidential loans - <$100k 54 $2,401 $44,463
    Nonfarm, nonresidential loans - $100-250k 73 $11,207 $153,521
    Nonfarm, nonresidential loans - $250k-1MM 112 $46,149 $412,045
    Commercial & Industrial, US addressed loans - <$1MM 283 $17,749 $62,717
    Commercial & Industrial, US addressed loans - <$100k 199 $4,551 $22,869
    Commercial & Industrial, US addressed loans - $100-250k 48 $5,422 $112,958
    Commercial & Industrial, US addressed loans - $250k-1MM 36 $7,776 $216,000
    Farmland loans - <$1MM 15 $3,062 $204,133
    Farmland loans - <$100k 5 $298 $59,600
    Farmland loans - $100-250k 5 $598 $119,600
    Farmland loans - $250k-1MM 5 $2,166 $433,200
    Agriculture operations loans - <$1MM 14 $1,222 $87,286
    Agriculture operations loans - <$100k 7 $102 $14,571
    Agriculture operations loans - $100-250k 5 $620 $124,000
    Agriculture operations loans - $250k-1MM 2 $500 $250,000