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

Jump to:

  • 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 Refi and Home Purchase loans. Providence Bank & Trust has a high proportion of conventional loans. Their top markets by origination volume include: Chicago, Champaign, Phoenix, Miami, and Cape Coral among others. We have data for 14 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.71% 4/30/24
    30 Year Conventional Refi 6.60% 4/30/24
    30 Year Cash-out Refi 6.65% 4/30/24
    15 Year Conventional Purchase 6.18% 4/30/24
    15 Year Conventional Refi 6.15% 4/30/24
    15 Year Cash-out Refi 6.15% 4/30/24
    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

    362

    Origination Dollar Volume (All Markets)

    $123,470,000

    Employee count

    185

    Awards

    Providence Bank & Trust 30 Year Conventional Loans gold Providence Bank & Trust 30 Year Conventional Loans silver Providence Bank & Trust 30 Year Conventional Loans bronze Providence Bank & Trust 30 Year Conventional Loans silver
    Show all (4) 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) 339 $114,805,000 $338,658 $2,160 3.13%
    CHAMPAIGN-URBANA, IL (FHA|USDA|VA) 1 $4,165,000 $4,165,000 $0 4.25%
    Outside of Metro Areas 6 $1,690,000 $281,667 $2,325 2.50%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 3 $625,000 $208,333 $2,502 2.75%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $610,000 $305,000 $4,014 3.19%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $310,000 $155,000 $2,449 2.44%
    Brainerd, MN (FHA|USDA|VA) 1 $225,000 $225,000 $3,396 2.88%
    PEORIA, IL (FHA|USDA|VA) 1 $225,000 $225,000 $2,212 2.25%
    MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 1 $215,000 $215,000 $1,967 2.63%
    ROCKFORD, IL (FHA|USDA|VA) 2 $200,000 $100,000 $1,440 2.75%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 1 $145,000 $145,000 $1,851 2.13%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $115,000 $115,000 $2,378 3.00%
    Rochelle, IL (FHA|USDA|VA) 1 $115,000 $115,000 $1,510 3.00%
    SPRINGFIELD, IL (FHA|USDA|VA) 1 $25,000 $25,000 $1,925 3.63%
    Providence Bank & Trust's top markets include Chicago, Champaign, Phoenix, Miami, and Cape Coral among others.

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

    First Savings Bank of Hegewisch
    Similarity Rank: 45
    Liberty Bank for Savings
    Similarity Rank: 153
    AMERITRUST MORTGAGE CORPORATION
    Similarity Rank: 861
    First Financial Credit Union
    Similarity Rank: 1090
    The Equitable Bank, S.S.B.
    Similarity Rank: 1166
    FINANCIAL PLUS
    Similarity Rank: 1220
    Providence Bank & Trust
    Similarity Rank: 1232
    CROWN MORTGAGE COMPANY
    Similarity Rank: 1252
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 1560
    DuPage Credit Union
    Similarity Rank: 1866

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 362 $123,470,000 $341,077 $2,177 3.11%

    For 2021, Providence Bank & Trust's most frequently originated type of loan was Conventional, with 362 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 170 $51,140,000 $300,824 $1,650 3.10%
    Home Purchase 120 $56,360,000 $469,667 $3,106 3.26%
    Cash Out Refi 70 $15,610,000 $223,000 $2,042 2.86%
    Home Improvement 2 $360,000 $180,000 $2,223 3.13%

    For 2021, Providence Bank & Trust's most frequently cited loan purpose was Refi, with 170 originations. The 2nd most popular reason was Home Purchase, with 120 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 184 $41,800,000 $227,174 $2,348 3.00%
    15 Year 71 $14,235,000 $200,493 $1,955 2.40%
    10 Year 41 $19,175,000 $467,683 $1,744 3.81%
    5 Year 33 $39,105,000 $1,185,000 $0 4.14%
    20 Year 26 $4,070,000 $156,538 $1,751 2.77%
    Other 6 $4,670,000 $778,333 $0 5.36%
    3 Year 1 $415,000 $415,000 $0 5.02%

    For 2021, Providence Bank & Trust's most frequently cited loan duration was 30 Year, with 184 originations. The 2nd most popular length was 15 Year, with 71 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 246 $50,120,000 $203,740
    $1k-2k 12 $4,020,000 $335,000
    $2k-3k 3 $615,000 $205,000
    $3k-4k 3 $1,865,000 $621,667
    $5k+ 1 $545,000 $545,000

    Providence Bank & Trust's average total fees were $2,348, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 246 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 134 $29,160,000 $217,612
    3-4% 96 $33,970,000 $353,854
    <2.5% 87 $16,605,000 $190,862
    4-5% 42 $43,140,000 $1,027,143
    5-6% 2 $440,000 $220,000
    6-7% 1 $155,000 $155,000

    During 2021, Providence Bank & Trust's average interest rate for loans was 3.00%, while their most frequently originated rate bucket for loans was 2.5-3%, with 134 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 138 $20,540,000 $148,841 $2,043 2.87%
    $200k-400k 111 $30,635,000 $275,991 $2,191 3.02%
    $400k-600k 44 $20,910,000 $475,227 $2,742 3.49%
    $100,000 or less 41 $3,275,000 $79,878 $1,994 2.95%
    $1MM+ 14 $37,720,000 $2,694,286 $9,400 4.25%
    $600k-1MM 14 $10,390,000 $742,143 $0 4.21%

    2021 saw Providence Bank & Trust place emphasis on $100k-200k loans with 138 originations, totaling $20,540,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 70 $14,610,000 $208,714 $2,043 2.86%
    $50k-75k 69 $11,225,000 $162,681 $2,002 2.77%
    $150k-250k 54 $15,250,000 $282,407 $2,536 2.80%
    $75k-100k 45 $8,775,000 $195,000 $1,917 2.77%
    $50k or less 28 $3,810,000 $136,071 $2,192 2.82%
    $250k+ 25 $7,215,000 $288,600 $2,985 2.85%

    Providence Bank & Trust lent most frequently to those with incomes in the $100k-150k range, with 70 originations. The second most popular income band? $50k-75k, with 69 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 86 $16,990,000 $197,558 $2,046 2.77%
    <20% 69 $12,455,000 $180,507 $2,157 2.75%
    30-36% 48 $10,560,000 $220,000 $2,154 2.88%
    37% 10 $1,780,000 $178,000 $2,166 3.03%
    44% 9 $2,065,000 $229,444 $2,670 3.03%
    36% 8 $1,680,000 $210,000 $2,044 2.59%
    38% 8 $1,580,000 $197,500 $2,422 2.77%
    43% 7 $1,505,000 $215,000 $1,829 2.96%
    49% 7 $1,375,000 $196,429 $1,987 2.63%
    41% 6 $1,410,000 $235,000 $2,553 3.00%
    39% 6 $1,300,000 $216,667 $1,904 3.08%
    48% 6 $1,570,000 $261,667 $2,201 2.63%
    42% 5 $1,935,000 $387,000 $3,388 2.80%
    45% 5 $1,665,000 $333,000 $2,629 2.83%
    47% 5 $1,305,000 $261,000 $2,222 2.88%
    40% 4 $1,220,000 $305,000 $2,349 2.66%
    46% 1 $305,000 $305,000 $1,912 3.00%
    >60% 1 $185,000 $185,000 $4,920 3.50%

    Providence Bank & Trust lent most frequently to those with DTI ratios of 20-30%, with 86 originations. The next most common DTI ratio? <20%, with 69 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 58 $58,100,000 $1,001,724 $0 4.24%
    White 259 $55,195,000 $213,108 $2,116 2.81%
    Black 27 $4,285,000 $158,704 $2,357 3.38%
    Not provided 10 $4,110,000 $411,000 $3,031 3.34%
    Asian 8 $1,780,000 $222,500 $3,419 3.08%

    Approval Rates

    Total approvals of all applications
    95.34%

    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
    79.83%

    Providence Bank & Trust has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 362 $123,470,000 $341,077

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    362 $123,470,000 $341,077

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 31 $5,745,000 $185,323 $2,125 3.03%
    40-60% 81 $15,975,000 $197,222 $1,722 2.72%
    60-80% 186 $81,930,000 $440,484 $2,151 3.26%
    80-100% 55 $15,245,000 $277,182 $2,923 3.10%
    Over 100% 2 $3,140,000 $1,570,000 $0 4.63%
    Under 20% 5 $1,285,000 $257,000 $3,054 3.50%

    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 & Trust 1007 Brook Forest Avenue Shorewood, IL 60404 Full Service B&M $34,643
    Providence Bank & Trust 101 East 35th Street Chicago, IL 60653 Full Service B&M $72,817
    Providence Bank & Trust 1051 East Roosevelt Road Wheaton, IL 60187 Full Service B&M $60,780
    Providence Bank & Trust 14785 West 101st Avenue Dyer, IN 46311 Full Service B&M $93,582
    Providence Bank & Trust 16250 South Lagrange Rd Orland Park, IL 60467 Full Service B&M $62,981
    Providence Bank & Trust 2 East Roosevelt Road Villa Park, IL 60181 Full Service B&M $58,538
    Providence Bank & Trust 20220 South La Grange Road Frankfort, IL 60423 Full Service B&M $97,301
    Providence Bank & Trust 240 45th Street Munster, IN 46321 Full Service B&M $80,495
    Providence Bank & Trust 4310 Saint Charles Road Bellwood, IL 60104 Full Service B&M $34,538
    Providence Bank & Trust 4700 West 111th Street Oak Lawn, IL 60453 Full Service B&M $5,258
    Providence Bank & Trust 5225 West 25th Street Cicero, IL 60804 Full Service B&M $18,394
    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 $214,168
    Providence Bank & Trust 6431 W. 127th Street Palos Heights, IL 60463 Full Service B&M $19,815
    Providence Bank & Trust 7801 South State Street Chicago, IL 60619 Full Service B&M $128,507
    Providence Bank & Trust 7943-57 South Cottage Grove Avenue Chicago, IL 60619 Limited, Drive-thru $110,863
    Providence Bank & Trust 950 W. Us Hwy 30 Schererville, IN 46375 Full Service B&M $69,079

    For 2021, Providence Bank & Trust had 17 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $54,412
    Net interest income $52,620
    Total noninterest income $7,908
    Gross Fiduciary activities income $469
    Service charges on deposit accounts $1,145
    Trading account gains and fees $0
    Additional Noninterest Income $6,294
    Pre-tax net operating income $27,138
    Securities gains (or losses, -) $0
    Income before extraordinary items $19,901
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $19,901
    Minority interest net income $0
    Net income $19,901
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $19,901

    Providence Bank & Trust's gross interest income from loans was $54,412,000.
    Providence Bank & Trust's net interest income from loans was $52,620,000.
    Providence Bank & Trust's fee based income from loans was $1,145,000.
    Providence Bank & Trust's net income from loans was $19,901,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,792
    Provision for credit losses $1,224
    Total noninterest expense $32,166
    Salaries and employee benefits $19,314
    Premises and equipment expense $3,506
    Additional noninterest expense $9,346
    Applicable income taxes $7,237
    Net charge-offs $-234
    Cash dividends $16,200

    Providence Bank & Trust's interest expense for loans was $1,792,000.
    Providence Bank & Trust's payroll and benefits expense were $19,314,000.
    Providence Bank & Trust's property, plant and equipment expenses $3,506,000.

    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 $1,195,292
    Deposits held in domestic offices $1,195,292
    Deposits by Individuals, partnerships, and corporations $1,146,112
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $47,675
    Deposits by Commercial banks and other depository institutions in U.S. $1,505
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $529,498
    Demand deposits $407,678
    Nontransaction accounts $665,794
    Money market deposit accounts (MMDAs) $316,638
    Other savings deposits (excluding MMDAs) $207,647
    Total time deposits $141,509
    Total time and savings deposits $787,614
    Noninterest-bearing deposits $405,828
    Interest-bearing deposits $789,464
    Retail deposits $1,159,484
    IRAs and Keogh plan accounts $31,862
    Brokered deposits $15,492
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,361,041
    Cash & Balances due from depository institutions $155,604
    Interest-bearing balances $135,798
    Total securities $370,480
    Federal funds sold & reverse repurchase $10,230
    Net loans and leases $765,231
    Loan and leases loss allowance $17,308
    Trading account assets $0
    Bank premises and fixed assets $24,480
    Other real estate owned $128
    Goodwill and other intangibles $5,623
    All other assets $29,265

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,361,041
    Total Liabilities $1,214,902
    Total deposits $1,195,292
    Interest-bearing deposits $789,464
    Deposits held in domestic offices $1,195,292
    % insured (estimated) $66
    Federal funds purchased and repurchase agreements $9,342
    Trading liabilities $0
    Other borrowed funds $7,600
    Subordinated debt $0
    All other liabilities $2,668

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $765,231
    Loan and leases loss allowance $17,308
    Total loans and leases (domestic) $782,539
    All real estate loans $628,591
    Real estate loans in domestic offices $628,591
    Construction and development loans $59,601
    Residential 1-4 family construction $10,133
    Other construction, all land development and other land $49,468
    Loans secured by nonfarm nonresidential properties $355,769
    Nonfarm nonresidential secured by owner-occupied properties $166,890
    Commercial real estate & other non-farm, non-residential $188,879
    Multifamily residential real estate $157,230
    1-4 family residential loans $55,589
    Farmland loans $402
    Loans held in foreign offices $0
    Farm loans $15
    Commercial and industrial loans $145,421
    To non-U.S. addressees $0
    Loans to individuals $306
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $84
    Other loans to individuals $222
    All other loans & leases $11,403
    Loans to foreign governments and official institutions $0
    Other loans $170
    Loans to depository institutions and acceptances of other banks $2,000
    Loans not secured by real estate $661
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $1,192
    Non 1-4 family restructured loans & leases $79
    Total loans and leases (foreign) $0

    Providence Bank & Trust had $765,231,000 of loans outstanding in 2021. $628,591,000 of loans were in real estate loans. $59,601,000 of loans were in development loans. $157,230,000 of loans were in multifamily mortgage loans. $55,589,000 of loans were in 1-4 family mortgage loans. $15,000 of loans were in farm loans. $0 of loans were in credit card loans. $84,000 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 293 $77,736 $265,311
    Nonfarm, nonresidential loans - <$100k 42 $1,661 $39,548
    Nonfarm, nonresidential loans - $100-250k 92 $11,912 $129,478
    Nonfarm, nonresidential loans - $250k-1MM 159 $64,163 $403,541
    Commercial & Industrial, US addressed loans - <$1MM 419 $48,154 $114,926
    Commercial & Industrial, US addressed loans - <$100k 195 $5,007 $25,677
    Commercial & Industrial, US addressed loans - $100-250k 102 $10,859 $106,461
    Commercial & Industrial, US addressed loans - $250k-1MM 122 $32,288 $264,656
    Farmland loans - <$1MM 3 $401 $133,667
    Farmland loans - $100-250k 2 $186 $93,000
    Farmland loans - $250k-1MM 1 $215 $215,000
    Agriculture operations loans - <$1MM 1 $15 $15,000
    Agriculture operations loans - <$100k 1 $15 $15,000