Provident State Bank Mortgage Rates, Fees & Info

Preston, MD

LEI: 549300IIUZTJI9AHIA30

Tax ID: 52-0451670

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

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Mortgage Data

Review & Overview

Provident State Bank is a smaller bank specializing in Home Purchase and Refi loans. Provident State Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Baltimore, Salisbury, Easton, Cambridge, and Dover among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

Provident State Bank 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.

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Originations

114

Origination Dollar Volume (All Markets)

$53,790,000

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
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 25 $15,835,000 $633,400 $0 0.00%
SALISBURY, MD-DE (FHA|USDA|VA) 28 $12,760,000 $455,714 $0 0.00%
Easton, MD (FHA|USDA|VA) 26 $11,500,000 $442,308 $0 0.00%
Outside of Metro Areas 20 $8,200,000 $410,000 $0 0.00%
Cambridge, MD (FHA|USDA|VA) 7 $1,965,000 $280,714 $0 0.00%
DOVER, DE (FHA|USDA|VA) 4 $1,340,000 $335,000 $0 0.00%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 2 $1,150,000 $575,000 $0 0.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 2 $1,040,000 $520,000 $0 0.00%
Provident State Bank's top markets include Baltimore, Salisbury, Easton, Cambridge, and Dover among others.

Their top states include:
  • Maryland (FHA|USDA|VA)
  • Delaware (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 112 $53,160,000 $474,643 $0 0.00%
    FHA 2 $630,000 $315,000 $0 0.00%

    For 2022, Provident State Bank's most frequently originated type of loan was Conventional, with 112 originations. Their 2nd most popular type was FHA, with 2 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 73 $34,765,000 $476,233 $0 0.00%
    Refi 27 $13,425,000 $497,222 $0 0.00%
    Cash Out Refi 9 $3,045,000 $338,333 $0 0.00%
    Other 3 $2,235,000 $745,000 $0 0.00%
    Home Improvement 2 $320,000 $160,000 $0 0.00%

    For 2022, Provident State Bank's most frequently cited loan purpose was Home Purchase, with 73 originations. The 2nd most popular reason was Refi, with 27 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 114 $53,790,000 $471,842 $0 0.00%

    For 2022, Provident State Bank's most frequently cited loan duration was Other, with 114 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 38 $11,070,000 $291,316 $0 0.00%
    $400k-600k 31 $14,805,000 $477,581 $0 0.00%
    $600k-1MM 24 $18,030,000 $751,250 $0 0.00%
    $100k-200k 11 $1,615,000 $146,818 $0 0.00%
    $1MM+ 7 $8,025,000 $1,146,429 $0 0.00%
    $100,000 or less 3 $245,000 $81,667 $0 0.00%

    2022 saw Provident State Bank place emphasis on $200k-400k loans with 38 originations, totaling $11,070,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 36 $17,110,000 $475,278 $0 0.00%
    $100k-150k 22 $8,820,000 $400,909 $0 0.00%
    $250k+ 21 $15,605,000 $743,095 $0 0.00%
    $50k-75k 8 $1,950,000 $243,750 $0 0.00%
    $50k or less 8 $1,440,000 $180,000 $0 0.00%
    $75k-100k 8 $3,350,000 $418,750 $0 0.00%

    Provident State Bank lent most frequently to those with incomes in the $150k-250k range, with 36 originations. The second most popular income band? $100k-150k, with 22 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 114 $53,790,000 $471,842 $0 0.00%

    Provident State Bank lent most frequently to those with DTI ratios of Exempt%, with 114 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 94 $44,210,000 $470,319 $0 0.00%
    Not applicable 11 $5,515,000 $501,364 $0 0.00%
    Not provided 5 $2,215,000 $443,000 $0 0.00%
    Asian 1 $1,005,000 $1,005,000 $0 0.00%
    Black 3 $845,000 $281,667 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.48%

    Provident State Bank 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
    83.33%

    Provident State Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 114 $53,790,000 $471,842

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    114 $53,790,000 $471,842