Providence Bank & Trust Mortgage Rates, Fees & Info

South Holland, IL

LEI: 549300GY0I1WYYWYFS47

Tax ID: 20-0241351

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • 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 & Trust is a smaller bank specializing in Home Purchase and Refi loans. Providence Bank & Trust has a high proportion of conventional loans. Their top markets by origination volume include: Chicago, Rockford, Michigan City, Niles, and Miami among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Providence Bank & Trust 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. Providence Bank & Trust is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.71% 4/21/24
    30 Year Conventional Refi 6.60% 4/21/24
    30 Year Cash-out Refi 6.65% 4/21/24
    15 Year Conventional Purchase 6.18% 4/21/24
    15 Year Conventional Refi 6.15% 4/21/24
    15 Year Cash-out Refi 6.15% 4/21/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Providence Bank & Trust Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Providence Bank & Trust. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    200

    Origination Dollar Volume (All Markets)

    $64,470,000

    Employee count

    127

    Awards

    Providence Bank & Trust 30 Year Conventional Loans silver
    Show all (1) awards

    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
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 181 $50,625,000 $279,696 $3,004 4.85%
    ROCKFORD, IL (FHA|USDA|VA) 7 $5,725,000 $817,857 $0 4.71%
    MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 1 $3,155,000 $3,155,000 $0 5.00%
    NILES, MI (FHA|USDA|VA) 2 $3,080,000 $1,540,000 $0 4.98%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $505,000 $505,000 $5,465 4.13%
    FORT COLLINS, CO (FHA|USDA|VA) 1 $355,000 $355,000 $3,940 4.00%
    Outside of Metro Areas 1 $345,000 $345,000 $5,598 4.00%
    Paducah, KY-IL (FHA|USDA|VA) 1 $235,000 $235,000 $2,673 4.75%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $195,000 $195,000 $2,368 4.75%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $85,000 $85,000 $2,423 4.50%
    BLOOMINGTON, IN (FHA|USDA|VA) 1 $75,000 $75,000 $0 4.75%
    Whitewater, WI (FHA|USDA|VA) 1 $65,000 $65,000 $2,342 4.00%
    SPRINGFIELD, IL (FHA|USDA|VA) 1 $25,000 $25,000 $2,084 4.75%
    Providence Bank & Trust's top markets include Chicago, Rockford, Michigan City, Niles, and Miami among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Michigan (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Providence Bank & Trust based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    UNITED
    Similarity Rank: 28
    Liberty Bank for Savings
    Similarity Rank: 104
    PACIFIC GLOBAL BANK
    Similarity Rank: 408
    The Equitable Bank, S.S.B.
    Similarity Rank: 533
    TECH Credit Union
    Similarity Rank: 759
    DuPage Credit Union
    Similarity Rank: 852
    First Financial Credit Union
    Similarity Rank: 870
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 921
    Community State Bank
    Similarity Rank: 1032
    Landmark Credit Union
    Similarity Rank: 1056

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 200 $64,470,000 $322,350 $3,022 4.82%

    For 2018, Providence Bank & Trust's most frequently originated type of loan was Conventional, with 200 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 128 $34,160,000 $266,875 $3,350 4.82%
    Cash Out Refi 39 $7,315,000 $187,564 $2,507 4.74%
    Refi 28 $22,310,000 $796,786 $2,696 4.84%
    Home Improvement 5 $685,000 $137,000 $0 5.52%

    For 2018, Providence Bank & Trust's most frequently cited loan purpose was Home Purchase, with 128 originations. The 2nd most popular reason was Cash Out Refi, with 39 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 130 $27,350,000 $210,385 $3,240 4.80%
    15 Year 26 $3,770,000 $145,000 $2,665 4.28%
    5 Year 19 $22,175,000 $1,167,105 $0 5.34%
    10 Year 11 $6,015,000 $546,818 $2,084 5.13%
    Other 8 $4,050,000 $506,250 $0 5.22%
    20 Year 4 $510,000 $127,500 $2,618 4.59%
    3 Year 1 $295,000 $295,000 $0 4.63%
    1 Year 1 $305,000 $305,000 $0 6.50%

    For 2018, Providence Bank & Trust's most frequently cited loan duration was 30 Year, with 130 originations. The 2nd most popular length was 15 Year, with 26 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 106 $17,470,000 $164,811
    $1k-2k 19 $4,145,000 $218,158
    $2k-3k 11 $4,145,000 $376,818
    $3k-4k 8 $2,680,000 $335,000
    $4k-5k 5 $1,715,000 $343,000
    $5k+ 4 $1,200,000 $300,000

    Providence Bank & Trust's average total fees were $3,240, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 106 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 139 $44,455,000 $319,820
    5-6% 44 $14,660,000 $333,182
    3-4% 12 $2,990,000 $249,167
    6-7% 4 $2,290,000 $572,500
    7-8% 1 $75,000 $75,000

    During 2018, Providence Bank & Trust's average interest rate for loans was 4.80%, while their most frequently originated rate bucket for loans was 4-5%, with 139 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 70 $10,460,000 $149,429 $2,771 4.80%
    $200k-400k 63 $17,435,000 $276,746 $3,233 4.76%
    $100,000 or less 42 $2,550,000 $60,714 $2,128 4.91%
    $400k-600k 12 $5,610,000 $467,500 $5,031 4.89%
    $1MM+ 7 $23,795,000 $3,399,286 $0 5.23%
    $600k-1MM 6 $4,620,000 $770,000 $6,108 4.54%

    2018 saw Providence Bank & Trust place emphasis on $100k-200k loans with 70 originations, totaling $10,460,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 47 $8,365,000 $177,979 $2,564 4.78%
    $75k-100k 34 $6,990,000 $205,588 $2,829 4.72%
    $50k-75k 28 $3,890,000 $138,929 $3,081 4.79%
    $50k or less 27 $3,155,000 $116,852 $3,167 4.75%
    $150k-250k 25 $7,005,000 $280,200 $3,471 4.72%
    $250k+ 10 $3,530,000 $353,000 $4,181 4.60%

    Providence Bank & Trust lent most frequently to those with incomes in the $100k-150k range, with 47 originations. The second most popular income band? $75k-100k, with 34 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 43 $7,005,000 $162,907 $2,547 4.82%
    <20% 29 $4,975,000 $171,552 $2,490 4.62%
    30-36% 27 $6,315,000 $233,889 $3,144 4.65%
    44% 8 $1,640,000 $205,000 $2,734 4.81%
    40% 8 $1,470,000 $183,750 $3,019 5.06%
    46% 7 $1,255,000 $179,286 $2,541 4.66%
    39% 6 $1,000,000 $166,667 $3,324 4.83%
    37% 6 $910,000 $151,667 $4,627 4.92%
    48% 6 $850,000 $141,667 $2,026 4.90%
    36% 5 $1,045,000 $209,000 $2,393 5.11%
    >60% 4 $1,000,000 $250,000 $8,910 5.12%
    42% 4 $660,000 $165,000 $3,539 4.63%
    43% 4 $1,380,000 $345,000 $3,071 4.56%
    49% 4 $620,000 $155,000 $2,842 4.81%
    41% 3 $1,475,000 $491,667 $3,838 4.17%
    45% 3 $565,000 $188,333 $4,756 4.00%
    38% 2 $420,000 $210,000 $2,904 4.94%
    50-60% 2 $280,000 $140,000 $5,777 5.04%
    47% 1 $125,000 $125,000 $4,123 4.63%

    Providence Bank & Trust lent most frequently to those with DTI ratios of 20-30%, with 43 originations. The next most common DTI ratio? <20%, with 29 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 171 $33,785,000 $197,573 $2,941 4.75%
    Not applicable 22 $29,520,000 $1,341,818 $0 5.40%
    Not provided 4 $620,000 $155,000 $3,325 4.81%
    Black 3 $545,000 $181,667 $6,695 5.08%

    Approval Rates

    Total approvals of all applications
    95.65%

    Providence Bank & Trust has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    74.50%

    Providence Bank & Trust has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 200 $64,470,000 $322,350

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 2 $3,080,000 $1,540,000
    Multifamily:Site-Built 22 $27,000,000 $1,227,273
    Single Family (1-4 Units):Manufactured 1 $125,000 $125,000
    Single Family (1-4 Units):Site-Built 175 $34,265,000 $195,800

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 15 $2,135,000 $142,333 $1,871 4.82%
    40-60% 34 $9,880,000 $290,588 $2,978 4.72%
    60-80% 89 $35,275,000 $396,348 $3,608 4.83%
    80-100% 52 $16,260,000 $312,692 $2,882 4.86%
    Under 20% 10 $920,000 $92,000 $526 4.95%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    PROVIDENT FUNDING ASSOCIATES Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 3 12.0%
    PROVIDENT FUNDING ASSOCIATES Conventional home mortgage Closing on a mortgage 2 8.0%
    PROVIDENT FUNDING ASSOCIATES Conventional home mortgage Struggling to pay mortgage 2 8.0%
    PROVIDENT FUNDING ASSOCIATES Conventional home mortgage Trouble during payment process 15 60.0%
    PROVIDENT FUNDING ASSOCIATES FHA mortgage Trouble during payment process 1 4.0%
    PROVIDENT FUNDING ASSOCIATES Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 4.0%
    PROVIDENT FUNDING ASSOCIATES Other type of mortgage Trouble during payment process 1 4.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Providence Bank & Trust 1007 Brook Forest Avenue Shorewood, IL 60404 Full Service B&M $25,491
    Providence Bank & Trust 10419 S. Cicero Avenue Oak Lawn, IL 60453 Full Service B&M $2,618
    Providence Bank & Trust 1051 East Roosevelt Road Wheaton, IL 60187 Full Service B&M $46,851
    Providence Bank & Trust 14785 West 101st Avenue Dyer, IN 46311 Full Service B&M $47,703
    Providence Bank & Trust 16250 South Lagrange Rd Orland Park, IL 60467 Full Service B&M $49,006
    Providence Bank & Trust 2 East Roosevelt Road Villa Park, IL 60181 Full Service B&M $52,962
    Providence Bank & Trust 20220 South La Grange Road Frankfort, IL 60423 Full Service B&M $42,483
    Providence Bank & Trust 240 45th Street Munster, IN 46321 Full Service B&M $66,280
    Providence Bank & Trust 5225 West 25th Street Cicero, IL 60804 Full Service B&M $16,519
    Providence Bank & Trust 630 East 162nd Street South Holland, IL 60473 Full Service B&M $139,630
    Providence Bank & Trust 950 W. Us Hwy 30 Schererville, IN 46375 Full Service B&M $60,253

    For 2018, Providence Bank & Trust had 11 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $26,735
    Net interest income $22,693
    Total noninterest income $5,245
    Gross Fiduciary activities income $392
    Service charges on deposit accounts $628
    Trading account gains and fees $0
    Additional Noninterest Income $4,225
    Pre-tax net operating income $7,952
    Securities gains (or losses, -) $0
    Income before extraordinary items $6,263
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $6,263
    Minority interest net income $0
    Net income $6,263
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $6,263

    Providence Bank & Trust's gross interest income from loans was $26,735,000.
    Providence Bank & Trust's net interest income from loans was $22,693,000.
    Providence Bank & Trust's fee based income from loans was $628,000.
    Providence Bank & Trust's net income from loans was $6,263,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,042
    Provision for credit losses $940
    Total noninterest expense $19,046
    Salaries and employee benefits $12,192
    Premises and equipment expense $2,277
    Additional noninterest expense $4,577
    Applicable income taxes $1,689
    Net charge-offs $139
    Cash dividends $100

    Providence Bank & Trust's interest expense for loans was $4,042,000.
    Providence Bank & Trust's payroll and benefits expense were $12,192,000.
    Providence Bank & Trust's property, plant and equipment expenses $2,277,000.

    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 1.0%
    All other family 1.0%
    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 $551,078
    Deposits held in domestic offices $551,078
    Deposits by Individuals, partnerships, and corporations $522,469
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $26,892
    Deposits by Commercial banks and other depository institutions in U.S. $1,717
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $33,144
    Demand deposits $26,136
    Nontransaction accounts $517,934
    Money market deposit accounts (MMDAs) $154,995
    Other savings deposits (excluding MMDAs) $249,535
    Total time deposits $113,404
    Total time and savings deposits $524,942
    Noninterest-bearing deposits $138,123
    Interest-bearing deposits $412,955
    Retail deposits $507,598
    IRAs and Keogh plan accounts $15,689
    Brokered deposits $17,467
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $630,143
    Cash & Balances due from depository institutions $13,436
    Interest-bearing balances $3,090
    Total securities $69,101
    Federal funds sold & reverse repurchase $0
    Net loans and leases $517,721
    Loan and leases loss allowance $8,487
    Trading account assets $0
    Bank premises and fixed assets $21,079
    Other real estate owned $0
    Goodwill and other intangibles $2,075
    All other assets $6,731

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $630,143
    Total Liabilities $565,118
    Total deposits $551,078
    Interest-bearing deposits $412,955
    Deposits held in domestic offices $551,078
    % insured (estimated) $76
    Federal funds purchased and repurchase agreements $3,861
    Trading liabilities $0
    Other borrowed funds $8,600
    Subordinated debt $0
    All other liabilities $1,579

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $517,721
    Loan and leases loss allowance $8,487
    Total loans and leases (domestic) $526,208
    All real estate loans $407,237
    Real estate loans in domestic offices $407,237
    Construction and development loans $51,063
    Residential 1-4 family construction $7,863
    Other construction, all land development and other land $43,200
    Loans secured by nonfarm nonresidential properties $233,328
    Nonfarm nonresidential secured by owner-occupied properties $133,874
    Commercial real estate & other non-farm, non-residential $99,454
    Multifamily residential real estate $62,330
    1-4 family residential loans $59,856
    Farmland loans $660
    Loans held in foreign offices $0
    Farm loans $25
    Commercial and industrial loans $105,928
    To non-U.S. addressees $0
    Loans to individuals $172
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $94
    Other loans to individuals $78
    All other loans & leases $13,616
    Loans to foreign governments and official institutions $0
    Other loans $186
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $3,098
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $2,721
    Non 1-4 family restructured loans & leases $415
    Total loans and leases (foreign) $0

    Providence Bank & Trust had $517,721,000 of loans outstanding in 2018. $407,237,000 of loans were in real estate loans. $51,063,000 of loans were in development loans. $62,330,000 of loans were in multifamily mortgage loans. $59,856,000 of loans were in 1-4 family mortgage loans. $25,000 of loans were in farm loans. $0 of loans were in credit card loans. $94,000 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 229 $68,111 $297,428
    Nonfarm, nonresidential loans - <$100k 24 $1,062 $44,250
    Nonfarm, nonresidential loans - $100-250k 71 $10,350 $145,775
    Nonfarm, nonresidential loans - $250k-1MM 134 $56,699 $423,127
    Commercial & Industrial, US addressed loans - <$1MM 310 $44,303 $142,913
    Commercial & Industrial, US addressed loans - <$100k 115 $3,631 $31,574
    Commercial & Industrial, US addressed loans - $100-250k 95 $8,093 $85,189
    Commercial & Industrial, US addressed loans - $250k-1MM 100 $32,579 $325,790
    Farmland loans - <$1MM 3 $660 $220,000
    Farmland loans - $100-250k 2 $277 $138,500
    Farmland loans - $250k-1MM 1 $383 $383,000
    Agriculture operations loans - <$1MM 1 $25 $25,000
    Agriculture operations loans - <$100k 1 $25 $25,000