Providence Bank & Trust Mortgage Rates, Fees & Info
South Holland, ILLEI: 549300GY0I1WYYWYFS47
Tax ID: 20-0241351
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Bank Data
Review & Overview
Providence Bank & Trust is a smaller bank specializing in Refi and Home Purchase loans. Providence Bank & Trust has a high proportion of conventional loans. Their top markets by origination volume include: Chicago, Grand Rapids, Michigan City, Phoenix, and Miami among others. We have data for 18 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% | 11/22/24 |
| 30 Year Conventional Refi | 6.60% | 11/22/24 |
| 30 Year Cash-out Refi | 6.65% | 11/22/24 |
| 15 Year Conventional Purchase | 6.18% | 11/22/24 |
| 15 Year Conventional Refi | 6.15% | 11/22/24 |
| 15 Year Cash-out Refi | 6.15% | 11/22/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
625Origination Dollar Volume (All Markets)
$181,955,000Employee count
190Top 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) | 591 | $171,335,000 | $289,907 | $0 | 0.00% |
| Outside of Metro Areas | 8 | $3,030,000 | $378,750 | $0 | 0.00% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 6 | $2,020,000 | $336,667 | $0 | 0.00% |
| MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) | 4 | $1,330,000 | $332,500 | $0 | 0.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 2 | $850,000 | $425,000 | $0 | 0.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $0 | 0.00% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $0 | 0.00% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $0 | 0.00% |
| FORT COLLINS, CO (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 0.00% |
| CLEVELAND, TN (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
| Adrian, MI (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| ROCKFORD, IL (FHA|USDA|VA) | 2 | $220,000 | $110,000 | $0 | 0.00% |
| KANKAKEE, IL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 0.00% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| Holland, MI (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| TOLEDO, OH (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| NILES, MI (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| Sterling, IL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $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 | 625 | $181,955,000 | $291,128 | $0 | 0.00% |
For 2020, Providence Bank & Trust's most frequently originated type of loan was Conventional, with 625 originations.
Loan Reason
For 2020, Providence Bank & Trust's most frequently cited loan purpose was Refi, with 344 originations. The 2nd most popular reason was Home Purchase, with 133 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 625 | $181,955,000 | $291,128 | $0 | 0.00% |
For 2020, Providence Bank & Trust's most frequently cited loan duration was Other, with 625 originations.
Loan Sizing
2020 saw Providence Bank & Trust place emphasis on $100k-200k loans with 254 originations, totaling $38,440,000 in origination value.
Applicant Income
Providence Bank & Trust lent most frequently to those with incomes in the $100k-150k range, with 165 originations. The second most popular income band? $75k-100k, with 128 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 625 | $181,955,000 | $291,128 | $0 | 0.00% |
Providence Bank & Trust lent most frequently to those with DTI ratios of Exempt%, with 625 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.77%
Providence Bank & Trust has an average approval rate.
Pick Rate
Approvals leading to origination85.28%
Providence Bank & Trust has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 625 | $181,955,000 | $291,128 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 62 | $62,770,000 | $1,012,419 |
| Single Family (1-4 Units):Site-Built | 563 | $119,185,000 | $211,696 |
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| PROVIDENT FUNDING ASSOCIATES | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 9 | 31.0% |
| PROVIDENT FUNDING ASSOCIATES | Conventional home mortgage | Closing on a mortgage | 6 | 20.7% |
| PROVIDENT FUNDING ASSOCIATES | Conventional home mortgage | Struggling to pay mortgage | 4 | 13.8% |
| PROVIDENT FUNDING ASSOCIATES | Conventional home mortgage | Trouble during payment process | 9 | 31.0% |
| PROVIDENT FUNDING ASSOCIATES | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 3.4% |
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 | $36,824 |
| Providence Bank & Trust | 101 East 35th Street Chicago, IL 60653 | Full Service B&M | $65,888 |
| Providence Bank & Trust | 1051 East Roosevelt Road Wheaton, IL 60187 | Full Service B&M | $45,760 |
| Providence Bank & Trust | 14785 West 101st Avenue Dyer, IN 46311 | Full Service B&M | $76,730 |
| Providence Bank & Trust | 16250 South Lagrange Rd Orland Park, IL 60467 | Full Service B&M | $54,628 |
| Providence Bank & Trust | 2 East Roosevelt Road Villa Park, IL 60181 | Full Service B&M | $53,420 |
| Providence Bank & Trust | 20220 South La Grange Road Frankfort, IL 60423 | Full Service B&M | $58,656 |
| Providence Bank & Trust | 240 45th Street Munster, IN 46321 | Full Service B&M | $76,262 |
| Providence Bank & Trust | 4310 Saint Charles Road Bellwood, IL 60104 | Full Service B&M | $37,460 |
| Providence Bank & Trust | 4700 West 111th Street Oak Lawn, IL 60453 | Full Service B&M | $4,359 |
| Providence Bank & Trust | 5225 West 25th Street Cicero, IL 60804 | Full Service B&M | $16,988 |
| 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 | $191,200 |
| Providence Bank & Trust | 6431 W. 127th Street Palos Heights, IL 60463 | Full Service B&M | $17,102 |
| Providence Bank & Trust | 7801 South State Street Chicago, IL 60619 | Full Service B&M | $124,754 |
| Providence Bank & Trust | 7943-57 South Cottage Grove Avenue Chicago, IL 60619 | Limited, Drive-thru | $108,735 |
| Providence Bank & Trust | 950 W. Us Hwy 30 Schererville, IN 46375 | Full Service B&M | $62,729 |
For 2020, Providence Bank & Trust had 17 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $47,937 |
| Net interest income | $44,160 |
| Total noninterest income | $8,708 |
| Gross Fiduciary activities income | $449 |
| Service charges on deposit accounts | $1,175 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $7,084 |
| Pre-tax net operating income | $17,650 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $13,055 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $13,055 |
| Minority interest net income | $0 |
| Net income | $13,055 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $13,055 |
Providence Bank & Trust's gross interest income from loans was $47,937,000.
Providence Bank & Trust's net interest income from loans was $44,160,000.
Providence Bank & Trust's fee based income from loans was $1,175,000.
Providence Bank & Trust's net income from loans was $13,055,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $3,777 |
| Provision for credit losses | $4,310 |
| Total noninterest expense | $30,908 |
| Salaries and employee benefits | $18,759 |
| Premises and equipment expense | $3,610 |
| Additional noninterest expense | $8,539 |
| Applicable income taxes | $4,595 |
| Net charge-offs | $-596 |
| Cash dividends | $10,000 |
Providence Bank & Trust's interest expense for loans was $3,777,000.
Providence Bank & Trust's payroll and benefits expense were $18,759,000.
Providence Bank & Trust's property, plant and equipment expenses $3,610,000.
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 | 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 | $1,055,014 |
| Deposits held in domestic offices | $1,055,014 |
| Deposits by Individuals, partnerships, and corporations | $1,011,690 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $42,331 |
| Deposits by Commercial banks and other depository institutions in U.S. | $993 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $470,496 |
| Demand deposits | $353,779 |
| Nontransaction accounts | $584,518 |
| Money market deposit accounts (MMDAs) | $244,211 |
| Other savings deposits (excluding MMDAs) | $189,701 |
| Total time deposits | $150,608 |
| Total time and savings deposits | $701,235 |
| Noninterest-bearing deposits | $351,280 |
| Interest-bearing deposits | $703,734 |
| Retail deposits | $1,017,251 |
| IRAs and Keogh plan accounts | $34,251 |
| Brokered deposits | $17,389 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $1,219,167 |
| Cash & Balances due from depository institutions | $71,815 |
| Interest-bearing balances | $56,447 |
| Total securities | $247,658 |
| Federal funds sold & reverse repurchase | $10,304 |
| Net loans and leases | $830,382 |
| Loan and leases loss allowance | $15,849 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $24,855 |
| Other real estate owned | $210 |
| Goodwill and other intangibles | $6,402 |
| All other assets | $27,541 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $1,219,167 |
| Total Liabilities | $1,080,572 |
| Total deposits | $1,055,014 |
| Interest-bearing deposits | $703,734 |
| Deposits held in domestic offices | $1,055,014 |
| % insured (estimated) | $71 |
| Federal funds purchased and repurchase agreements | $8,461 |
| Trading liabilities | $0 |
| Other borrowed funds | $12,600 |
| Subordinated debt | $0 |
| All other liabilities | $4,497 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $830,382 |
| Loan and leases loss allowance | $15,849 |
| Total loans and leases (domestic) | $846,231 |
| All real estate loans | $610,386 |
| Real estate loans in domestic offices | $610,386 |
| Construction and development loans | $75,715 |
| Residential 1-4 family construction | $10,404 |
| Other construction, all land development and other land | $65,311 |
| Loans secured by nonfarm nonresidential properties | $320,958 |
| Nonfarm nonresidential secured by owner-occupied properties | $166,205 |
| Commercial real estate & other non-farm, non-residential | $154,753 |
| Multifamily residential real estate | $141,845 |
| 1-4 family residential loans | $71,376 |
| Farmland loans | $492 |
| Loans held in foreign offices | $0 |
| Farm loans | $20 |
| Commercial and industrial loans | $225,425 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $305 |
| Credit card loans | $0 |
| Related Plans | $0 |
| Consumer Auto Loans | $94 |
| Other loans to individuals | $211 |
| All other loans & leases | $14,899 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $44 |
| Loans to depository institutions and acceptances of other banks | $2,000 |
| Loans not secured by real estate | $920 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $2,659 |
| Non 1-4 family restructured loans & leases | $310 |
| Total loans and leases (foreign) | $0 |
Providence Bank & Trust had $830,382,000 of loans outstanding in 2020. $610,386,000 of loans were in real estate loans. $75,715,000 of loans were in development loans. $141,845,000 of loans were in multifamily mortgage loans. $71,376,000 of loans were in 1-4 family mortgage loans. $20,000 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 | 309 | $82,482 | $266,932 |
| Nonfarm, nonresidential loans - <$100k | 46 | $1,997 | $43,413 |
| Nonfarm, nonresidential loans - $100-250k | 103 | $13,334 | $129,456 |
| Nonfarm, nonresidential loans - $250k-1MM | 160 | $67,151 | $419,694 |
| Commercial & Industrial, US addressed loans - <$1MM | 1,128 | $113,408 | $100,539 |
| Commercial & Industrial, US addressed loans - <$100k | 719 | $21,782 | $30,295 |
| Commercial & Industrial, US addressed loans - $100-250k | 223 | $25,954 | $116,386 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 186 | $65,672 | $353,075 |
| Farmland loans - <$1MM | 3 | $492 | $164,000 |
| Farmland loans - $100-250k | 2 | $218 | $109,000 |
| Farmland loans - $250k-1MM | 1 | $274 | $274,000 |
| Agriculture operations loans - <$1MM | 1 | $20 | $20,000 |
| Agriculture operations loans - <$100k | 1 | $20 | $20,000 |