Providence Bank & Trust Mortgage Rates, Fees & Info
South Holland, ILLEI: 549300GY0I1WYYWYFS47
Tax ID: 20-0241351
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Mortgage Data
Bank Data
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, Grand Rapids, Rockford, Naples, and Cape Coral among others. We have data for 11 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.
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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.71% | 11/17/24 |
| 30 Year Conventional Refi | 6.60% | 11/17/24 |
| 30 Year Cash-out Refi | 6.65% | 11/17/24 |
| 15 Year Conventional Purchase | 6.18% | 11/17/24 |
| 15 Year Conventional Refi | 6.15% | 11/17/24 |
| 15 Year Cash-out Refi | 6.15% | 11/17/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
155Origination Dollar Volume (All Markets)
$59,935,000Employee count
192Top 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) | 141 | $50,895,000 | $360,957 | $0 | 0.00% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 2 | $3,230,000 | $1,615,000 | $0 | 0.00% |
| ROCKFORD, IL (FHA|USDA|VA) | 2 | $2,000,000 | $1,000,000 | $0 | 0.00% |
| Outside of Metro Areas | 3 | $1,895,000 | $631,667 | $0 | 0.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $0 | 0.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $0 | 0.00% |
| PEORIA, IL (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $0 | 0.00% |
| KANKAKEE, IL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 0.00% |
| Ottawa, IL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.00% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 155 | $59,935,000 | $386,677 | $0 | 0.00% |
For 2019, Providence Bank & Trust's most frequently originated type of loan was Conventional, with 155 originations.
Loan Reason
For 2019, Providence Bank & Trust's most frequently cited loan purpose was Home Purchase, with 73 originations. The 2nd most popular reason was Refi, with 43 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 155 | $59,935,000 | $386,677 | $0 | 0.00% |
For 2019, Providence Bank & Trust's most frequently cited loan duration was Other, with 155 originations.
Loan Sizing
2019 saw Providence Bank & Trust place emphasis on $100k-200k loans with 53 originations, totaling $7,855,000 in origination value.
Applicant Income
Providence Bank & Trust lent most frequently to those with incomes in the $100k-150k range, with 30 originations. The second most popular income band? $50k-75k, with 26 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 155 | $59,935,000 | $386,677 | $0 | 0.00% |
Providence Bank & Trust lent most frequently to those with DTI ratios of Exempt%, with 155 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.98%
Providence Bank & Trust has an average approval rate.
Pick Rate
Approvals leading to origination79.35%
Providence Bank & Trust has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 155 | $59,935,000 | $386,677 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| PROVIDENT FUNDING ASSOCIATES | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 6 | 20.0% |
| PROVIDENT FUNDING ASSOCIATES | Conventional home mortgage | Closing on a mortgage | 2 | 6.7% |
| PROVIDENT FUNDING ASSOCIATES | Conventional home mortgage | Incorrect information on your report | 1 | 3.3% |
| PROVIDENT FUNDING ASSOCIATES | Conventional home mortgage | Struggling to pay mortgage | 5 | 16.7% |
| PROVIDENT FUNDING ASSOCIATES | Conventional home mortgage | Trouble during payment process | 12 | 40.0% |
| PROVIDENT FUNDING ASSOCIATES | FHA mortgage | Trouble during payment process | 1 | 3.3% |
| PROVIDENT FUNDING ASSOCIATES | Other type of mortgage | Closing on a mortgage | 1 | 3.3% |
| PROVIDENT FUNDING ASSOCIATES | Other type of mortgage | Trouble during payment process | 2 | 6.7% |
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 | $20,623 |
| Providence Bank & Trust | 101 East 35th Street Chicago, IL 60653 | Full Service B&M | $60,681 |
| Providence Bank & Trust | 1051 East Roosevelt Road Wheaton, IL 60187 | Full Service B&M | $37,140 |
| Providence Bank & Trust | 14785 West 101st Avenue Dyer, IN 46311 | Full Service B&M | $58,234 |
| Providence Bank & Trust | 16250 South Lagrange Rd Orland Park, IL 60467 | Full Service B&M | $43,162 |
| Providence Bank & Trust | 2 East Roosevelt Road Villa Park, IL 60181 | Full Service B&M | $39,240 |
| Providence Bank & Trust | 20220 South La Grange Road Frankfort, IL 60423 | Full Service B&M | $54,230 |
| Providence Bank & Trust | 240 45th Street Munster, IN 46321 | Full Service B&M | $68,634 |
| Providence Bank & Trust | 4310 Saint Charles Road Bellwood, IL 60104 | Full Service B&M | $38,270 |
| Providence Bank & Trust | 4700 West 111th Street Oak Lawn, IL 60453 | Full Service B&M | $3,446 |
| Providence Bank & Trust | 5225 West 25th Street Cicero, IL 60804 | Full Service B&M | $15,934 |
| Providence Bank & Trust | 55 East Jackson Boulevard Chicago, IL 60604 | Full Service B&M | $0 |
| Providence Bank & Trust | 630 East 162nd Street South Holland, IL 60473 | Full Service B&M | $164,058 |
| Providence Bank & Trust | 6431 W. 127th Street Palos Heights, IL 60463 | Full Service B&M | $17,667 |
| Providence Bank & Trust | 7801 South State Street Chicago, IL 60619 | Full Service B&M | $119,028 |
| Providence Bank & Trust | 7943-57 South Cottage Grove Avenue Chicago, IL 60619 | Limited, Drive-thru | $103,679 |
| Providence Bank & Trust | 950 W. Us Hwy 30 Schererville, IN 46375 | Full Service B&M | $55,313 |
For 2019, Providence Bank & Trust had 17 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $52,192 |
| Net interest income | $45,622 |
| Total noninterest income | $30,220 |
| Gross Fiduciary activities income | $405 |
| Service charges on deposit accounts | $2,279 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $27,536 |
| Pre-tax net operating income | $34,629 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $31,721 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $31,721 |
| Minority interest net income | $0 |
| Net income | $31,721 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $31,721 |
Providence Bank & Trust's gross interest income from loans was $52,192,000.
Providence Bank & Trust's net interest income from loans was $45,622,000.
Providence Bank & Trust's fee based income from loans was $2,279,000.
Providence Bank & Trust's net income from loans was $31,721,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $6,570 |
| Provision for credit losses | $1,289 |
| Total noninterest expense | $39,924 |
| Salaries and employee benefits | $21,353 |
| Premises and equipment expense | $4,584 |
| Additional noninterest expense | $13,987 |
| Applicable income taxes | $2,908 |
| Net charge-offs | $-1,167 |
| Cash dividends | $0 |
Providence Bank & Trust's interest expense for loans was $6,570,000.
Providence Bank & Trust's payroll and benefits expense were $21,353,000.
Providence Bank & Trust's property, plant and equipment expenses $4,584,000.
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 | 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 | $872,471 |
| Deposits held in domestic offices | $872,471 |
| Deposits by Individuals, partnerships, and corporations | $838,477 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $31,945 |
| Deposits by Commercial banks and other depository institutions in U.S. | $2,049 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $69,130 |
| Demand deposits | $56,637 |
| Nontransaction accounts | $803,341 |
| Money market deposit accounts (MMDAs) | $186,697 |
| Other savings deposits (excluding MMDAs) | $429,580 |
| Total time deposits | $187,064 |
| Total time and savings deposits | $815,834 |
| Noninterest-bearing deposits | $238,860 |
| Interest-bearing deposits | $633,611 |
| Retail deposits | $825,159 |
| IRAs and Keogh plan accounts | $37,404 |
| Brokered deposits | $16,229 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $1,020,305 |
| Cash & Balances due from depository institutions | $74,836 |
| Interest-bearing balances | $57,571 |
| Total securities | $129,617 |
| Federal funds sold & reverse repurchase | $8,000 |
| Net loans and leases | $748,339 |
| Loan and leases loss allowance | $10,943 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $25,032 |
| Other real estate owned | $447 |
| Goodwill and other intangibles | $6,943 |
| All other assets | $27,091 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $1,020,305 |
| Total Liabilities | $887,201 |
| Total deposits | $872,471 |
| Interest-bearing deposits | $633,611 |
| Deposits held in domestic offices | $872,471 |
| % insured (estimated) | $77 |
| Federal funds purchased and repurchase agreements | $3,423 |
| Trading liabilities | $0 |
| Other borrowed funds | $8,600 |
| Subordinated debt | $0 |
| All other liabilities | $2,707 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $748,339 |
| Loan and leases loss allowance | $10,943 |
| Total loans and leases (domestic) | $759,282 |
| All real estate loans | $609,359 |
| Real estate loans in domestic offices | $609,359 |
| Construction and development loans | $71,837 |
| Residential 1-4 family construction | $9,855 |
| Other construction, all land development and other land | $61,982 |
| Loans secured by nonfarm nonresidential properties | $312,962 |
| Nonfarm nonresidential secured by owner-occupied properties | $169,196 |
| Commercial real estate & other non-farm, non-residential | $143,766 |
| Multifamily residential real estate | $139,465 |
| 1-4 family residential loans | $84,516 |
| Farmland loans | $579 |
| Loans held in foreign offices | $0 |
| Farm loans | $25 |
| Commercial and industrial loans | $140,543 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $207 |
| Credit card loans | $0 |
| Related Plans | $0 |
| Consumer Auto Loans | $93 |
| Other loans to individuals | $114 |
| All other loans & leases | $11,968 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $256 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $1,363 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $2,754 |
| Non 1-4 family restructured loans & leases | $330 |
| Total loans and leases (foreign) | $0 |
Providence Bank & Trust had $748,339,000 of loans outstanding in 2019. $609,359,000 of loans were in real estate loans. $71,837,000 of loans were in development loans. $139,465,000 of loans were in multifamily mortgage loans. $84,516,000 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. $93,000 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 | 258 | $89,269 | $346,004 |
| Nonfarm, nonresidential loans - <$100k | 49 | $2,087 | $42,592 |
| Nonfarm, nonresidential loans - $100-250k | 106 | $13,108 | $123,660 |
| Nonfarm, nonresidential loans - $250k-1MM | 103 | $74,074 | $719,165 |
| Commercial & Industrial, US addressed loans - <$1MM | 578 | $56,223 | $97,272 |
| Commercial & Industrial, US addressed loans - <$100k | 335 | $9,286 | $27,719 |
| Commercial & Industrial, US addressed loans - $100-250k | 126 | $12,377 | $98,230 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 117 | $34,560 | $295,385 |
| Farmland loans - <$1MM | 3 | $578 | $192,667 |
| Farmland loans - $100-250k | 2 | $248 | $124,000 |
| Farmland loans - $250k-1MM | 1 | $330 | $330,000 |
| Agriculture operations loans - <$1MM | 1 | $25 | $25,000 |
| Agriculture operations loans - <$100k | 1 | $25 | $25,000 |