Centreville Bank Mortgage Rates, Fees & Info

West Warwick, RI

LEI: 549300Q4BYXP7YD9UI61

Tax ID: 05-0118560

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Mortgage Data

Bank Data

Review & Overview

Centreville Bank is a smaller bank specializing in Home Purchase, Cash Out Refi, and Refi loans. Centreville Bank has a high proportion of conventional loans. Their top markets by origination volume include: Providence, Boston, Worcester, Lebanon, and Bridgeport among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

Centreville Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Centreville Bank 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
Home Equity Line of Credit (HELOC) 3.73% 3/28/24
30 Year Conventional Purchase 6.09% 3/28/24
30 Year Conventional Refi 6.13% 3/28/24
30 Year Cash-out Refi 6.45% 3/28/24
30 Year FHA Purchase 7.11% 3/28/24
15 Year Conventional Purchase 5.34% 3/28/24
15 Year Conventional Refi 5.55% 3/28/24
15 Year Cash-out Refi 5.55% 3/28/24
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.

Centreville Bank Mortgage Calculator






Your Estimates

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

This is not an official calculator from Centreville Bank. 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

468

Origination Dollar Volume (All Markets)

$83,810,000

Employee count

133

Awards

Centreville Bank 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
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 456 $77,420,000 $169,781 $2,419 3.91%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 6 $4,930,000 $821,667 $3,284 4.67%
WORCESTER, MA-CT (FHA|USDA|VA) 4 $940,000 $235,000 $3,063 4.63%
Lebanon, NH-VT (FHA|USDA|VA) 1 $265,000 $265,000 $0 5.63%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 1 $255,000 $255,000 $0 5.25%
Centreville Bank's top markets include Providence, Boston, Worcester, Lebanon, and Bridgeport among others.

Their top states include:
  • Rhode Island (FHA|USDA|VA)
  • Massachusetts (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • Similar Lenders

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

    Westport Federal Credit Union
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 284 $64,580,000 $227,394 $2,435 4.61%
    HELOC 184 $19,230,000 $104,511 n/a 2.89%

    For 2018, Centreville Bank's most frequently originated type of loan was Conventional, with 284 originations. Their 2nd most popular type was HELOC, with 184 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 160 $38,370,000 $239,813 $2,887 4.57%
    Cash Out Refi 131 $18,785,000 $143,397 $1,995 3.47%
    Refi 71 $18,495,000 $260,493 $2,393 4.24%
    Home Improvement 55 $4,055,000 $73,727 $1,341 3.23%
    Other 50 $4,080,000 $81,600 $563 3.52%
    NA 1 $25,000 $25,000 $0 1.99%

    For 2018, Centreville Bank's most frequently cited loan purpose was Home Purchase, with 160 originations. The 2nd most popular reason was Cash Out Refi, with 131 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 188 $23,790,000 $126,543 $0 2.93%
    30 Year 173 $41,945,000 $242,457 $2,957 4.60%
    15 Year 51 $6,865,000 $134,608 $1,559 4.56%
    10 Year 37 $7,645,000 $206,622 $808 4.79%
    20 Year 11 $3,045,000 $276,818 $3,567 4.38%
    5 Year 7 $265,000 $37,857 $0 4.46%
    30+ year 1 $255,000 $255,000 $3,749 5.38%

    For 2018, Centreville Bank's most frequently cited loan duration was Other, with 188 originations. The 2nd most popular length was 30 Year, with 173 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 254 $51,230,000 $201,693
    $1k-2k 12 $2,250,000 $187,500
    $2k-3k 2 $380,000 $190,000
    $4k-5k 1 $355,000 $355,000

    Centreville Bank's average total fees were $2,957, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 254 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 231 $43,595,000 $188,723
    <2.5% 128 $15,000,000 $117,188
    5-6% 64 $13,970,000 $218,281
    3-4% 42 $9,990,000 $237,857
    2.5-3% 2 $1,090,000 $545,000
    6-7% 1 $165,000 $165,000

    During 2018, Centreville Bank's average interest rate for loans was 4.60%, while their most frequently originated rate bucket for loans was 4-5%, with 231 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 177 $8,735,000 $49,350 $818 3.68%
    $100k-200k 140 $21,090,000 $150,643 $2,682 4.06%
    $200k-400k 123 $33,125,000 $269,309 $3,099 4.06%
    $400k-600k 19 $8,935,000 $470,263 $2,843 4.59%
    $600k-1MM 6 $4,580,000 $763,333 $3,833 3.47%
    $1MM+ 3 $7,345,000 $2,448,333 $6,874 4.70%

    2018 saw Centreville Bank place emphasis on $100,000 or less loans with 177 originations, totaling $8,735,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 102 $14,690,000 $144,020 $2,366 3.86%
    $50k-75k 101 $13,115,000 $129,851 $2,470 4.00%
    $100k-150k 100 $16,460,000 $164,600 $2,373 3.98%
    $150k-250k 68 $13,660,000 $200,882 $2,616 3.71%
    $50k or less 53 $4,435,000 $83,679 $2,177 3.90%
    $250k+ 30 $11,210,000 $373,667 $2,901 3.72%

    Centreville Bank lent most frequently to those with incomes in the $75k-100k range, with 102 originations. The second most popular income band? $50k-75k, with 101 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 102 $15,970,000 $156,569 $2,381 4.00%
    20-30% 89 $13,335,000 $149,831 $2,446 3.72%
    42% 59 $9,145,000 $155,000 $2,353 3.63%
    <20% 49 $7,135,000 $145,612 $2,184 3.56%
    40% 39 $6,215,000 $159,359 $2,424 3.96%
    41% 22 $3,420,000 $155,455 $2,535 4.32%
    37% 22 $4,140,000 $188,182 $2,244 4.24%
    39% 22 $3,210,000 $145,909 $2,515 4.20%
    36% 20 $5,190,000 $259,500 $3,412 3.94%
    38% 17 $2,805,000 $165,000 $1,873 3.98%
    43% 5 $1,505,000 $301,000 $3,039 4.53%
    45% 2 $280,000 $140,000 $2,724 3.14%
    44% 1 $195,000 $195,000 $2,909 4.88%
    46% 1 $195,000 $195,000 $2,697 3.75%
    47% 1 $195,000 $195,000 $2,898 3.75%
    48% 1 $355,000 $355,000 $3,024 4.63%
    49% 1 $155,000 $155,000 $2,691 4.00%

    Centreville Bank lent most frequently to those with DTI ratios of 30-36%, with 102 originations. The next most common DTI ratio? 20-30%, with 89 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 442 $71,380,000 $161,493 $2,415 3.87%
    Not applicable 14 $10,240,000 $731,429 $0 5.40%
    Asian 6 $1,470,000 $245,000 $3,161 4.54%
    Not provided 6 $720,000 $120,000 $2,991 4.50%

    Approval Rates

    Total approvals of all applications
    86.96%

    Centreville Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.82%

    Centreville Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 3 $245,000 $81,667
    523.5 1 $105,000 $105,000
    NA 464 $83,460,000 $179,871

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $4,040,000 $1,010,000
    Single Family (1-4 Units):Site-Built 464 $79,770,000 $171,918

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 87 $8,795,000 $101,092 $1,508 3.56%
    40-60% 58 $13,950,000 $240,517 $2,901 3.44%
    60-80% 118 $31,570,000 $267,542 $3,073 4.45%
    80-100% 82 $23,420,000 $285,610 $2,818 4.57%
    Over 100% 1 $925,000 $925,000 $0 3.00%
    Under 20% 122 $5,150,000 $42,213 $354 3.53%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    CENTRAL BANC MORTGAGE CORPORATION Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Centreville Bank 1115 Boston Neck Road Narragansett, RI 2882 Full Service B&M $36,993
    Centreville Bank 1218 Main Street West Warwick, RI 2893 Full Service B&M $365,476
    Centreville Bank 193 Comstock Parkway Cranston, RI 2921 Full Service B&M $98,680
    Centreville Bank 234 West Main Street North Kingstown, RI 2852 Full Service B&M $35,931
    Centreville Bank 495 Main Street East Greenwich, RI 2818 Full Service B&M $94,714
    Centreville Bank 777 Tiogue Avenue Coventry, RI 2816 Full Service B&M $191,758
    Centreville Bank 834 Victory Highway West Greenwich, RI 2817 Full Service B&M $63,940

    For 2018, Centreville Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $39,660
    Net interest income $31,054
    Total noninterest income $4,392
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $708
    Trading account gains and fees $0
    Additional Noninterest Income $3,684
    Pre-tax net operating income $-2,366
    Securities gains (or losses, -) $10,527
    Income before extraordinary items $7,388
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $7,388
    Minority interest net income $0
    Net income $7,388
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $-2,191

    Centreville Bank's gross interest income from loans was $39,660,000.
    Centreville Bank's net interest income from loans was $31,054,000.
    Centreville Bank's fee based income from loans was $708,000.
    Centreville Bank's net income from loans was $7,388,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $8,606
    Provision for credit losses $1,210
    Total noninterest expense $36,602
    Salaries and employee benefits $17,105
    Premises and equipment expense $3,038
    Additional noninterest expense $16,459
    Applicable income taxes $773
    Net charge-offs $20
    Cash dividends $0

    Centreville Bank's interest expense for loans was $8,606,000.
    Centreville Bank's payroll and benefits expense were $17,105,000.
    Centreville Bank's property, plant and equipment expenses $3,038,000.

    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 0.0%
    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 $911,529
    Deposits held in domestic offices $911,529
    Deposits by Individuals, partnerships, and corporations $870,110
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $41,419
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $138,832
    Demand deposits $138,832
    Nontransaction accounts $772,697
    Money market deposit accounts (MMDAs) $198,951
    Other savings deposits (excluding MMDAs) $247,357
    Total time deposits $326,389
    Total time and savings deposits $772,697
    Noninterest-bearing deposits $58,331
    Interest-bearing deposits $853,198
    Retail deposits $865,454
    IRAs and Keogh plan accounts $92,888
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,217,405
    Cash & Balances due from depository institutions $26,798
    Interest-bearing balances $21,416
    Total securities $439,531
    Federal funds sold & reverse repurchase $56
    Net loans and leases $695,642
    Loan and leases loss allowance $5,503
    Trading account assets $0
    Bank premises and fixed assets $18,750
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $36,628

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,217,405
    Total Liabilities $941,481
    Total deposits $911,529
    Interest-bearing deposits $853,198
    Deposits held in domestic offices $911,529
    % insured (estimated) $93
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $29,952

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $695,642
    Loan and leases loss allowance $5,503
    Total loans and leases (domestic) $701,145
    All real estate loans $691,264
    Real estate loans in domestic offices $691,264
    Construction and development loans $34,117
    Residential 1-4 family construction $2,683
    Other construction, all land development and other land $31,434
    Loans secured by nonfarm nonresidential properties $170,549
    Nonfarm nonresidential secured by owner-occupied properties $80,139
    Commercial real estate & other non-farm, non-residential $90,410
    Multifamily residential real estate $34,134
    1-4 family residential loans $452,464
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $199
    Commercial and industrial loans $7,136
    To non-U.S. addressees $0
    Loans to individuals $1,460
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $249
    Other loans to individuals $1,211
    All other loans & leases $1,085
    Loans to foreign governments and official institutions $0
    Other loans $35
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $1,220
    Non 1-4 family restructured loans & leases $720
    Total loans and leases (foreign) $0

    Centreville Bank had $695,642,000 of loans outstanding in 2018. $691,264,000 of loans were in real estate loans. $34,117,000 of loans were in development loans. $34,134,000 of loans were in multifamily mortgage loans. $452,464,000 of loans were in 1-4 family mortgage loans. $199,000 of loans were in farm loans. $0 of loans were in credit card loans. $249,000 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 176 $44,120 $250,682
    Nonfarm, nonresidential loans - <$100k 39 $1,157 $29,667
    Nonfarm, nonresidential loans - $100-250k 51 $7,102 $139,255
    Nonfarm, nonresidential loans - $250k-1MM 86 $35,861 $416,988
    Commercial & Industrial, US addressed loans - <$1MM 90 $7,136 $79,289
    Commercial & Industrial, US addressed loans - <$100k 59 $1,396 $23,661
    Commercial & Industrial, US addressed loans - $100-250k 16 $1,848 $115,500
    Commercial & Industrial, US addressed loans - $250k-1MM 15 $3,892 $259,467
    Agriculture operations loans - <$1MM 1 $199 $199,000
    Agriculture operations loans - $100-250k 1 $199 $199,000