Centreville Bank Mortgage Rates, Fees & Info

West Warwick, RI

LEI: 549300Q4BYXP7YD9UI61

Tax ID: 05-0118560

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • 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

    Centreville Bank is a smaller bank specializing in Home Purchase and Refi loans. Centreville 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: Providence, Boston, Keene, Vineyard Haven, and Hartford among others. We have data for 9 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.

    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
    Home Equity Line of Credit (HELOC) 3.73% 4/18/24
    30 Year Conventional Purchase 6.09% 4/18/24
    30 Year Conventional Refi 6.13% 4/18/24
    30 Year Cash-out Refi 6.45% 4/18/24
    30 Year FHA Purchase 7.11% 4/18/24
    15 Year Conventional Purchase 5.34% 4/18/24
    15 Year Conventional Refi 5.55% 4/18/24
    15 Year Cash-out Refi 5.55% 4/18/24
    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

    499

    Origination Dollar Volume (All Markets)

    $112,595,000

    Employee count

    134

    Awards

    Centreville Bank 30 Year Conventional Loans bronze
    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) 481 $92,995,000 $193,337 $2,842 4.00%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 9 $13,115,000 $1,457,222 $3,774 4.09%
    Keene, NH (FHA|USDA|VA) 1 $3,205,000 $3,205,000 $0 3.90%
    Vineyard Haven, MA (FHA|USDA|VA) 1 $1,055,000 $1,055,000 $6,154 3.88%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1 $655,000 $655,000 $0 3.90%
    Outside of Metro Areas 1 $615,000 $615,000 $5,528 4.50%
    WORCESTER, MA-CT (FHA|USDA|VA) 3 $415,000 $138,333 $2,745 4.85%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 1 $355,000 $355,000 $3,261 4.63%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 1 $185,000 $185,000 $2,650 4.63%
    Centreville Bank's top markets include Providence, Boston, Keene, Vineyard Haven, and Hartford among others.

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

    SOMERSET
    Similarity Rank: 26
    Chelsea Groton Bank
    Similarity Rank: 70
    SOUTHBRIDGE CREDIT UNION
    Similarity Rank: 80
    Rhode Island Credit Union
    Similarity Rank: 116
    Piscataqua Savings Bank
    Similarity Rank: 118
    First Ipswich Bank
    Similarity Rank: 139
    CorePlus Federal Credit Union
    Similarity Rank: 154
    LEOMINSTER CREDIT UNION
    Similarity Rank: 180
    BankNewport
    Similarity Rank: 315
    OCEAN STATE CREDIT UNION
    Similarity Rank: 315

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 360 $97,530,000 $270,917 $2,719 4.26%
    HELOC 130 $12,690,000 $97,615 n/a 3.36%
    FHA 9 $2,375,000 $263,889 $7,945 3.57%

    For 2019, Centreville Bank's most frequently originated type of loan was Conventional, with 360 originations. Their 2nd most popular type was HELOC, with 130 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 183 $53,775,000 $293,852 $3,554 4.22%
    Cash Out Refi 149 $20,515,000 $137,685 $2,190 3.89%
    Refi 82 $29,940,000 $365,122 $2,890 4.04%
    Home Improvement 52 $5,530,000 $106,346 $1,507 4.00%
    Other 33 $2,835,000 $85,909 $977 3.29%

    For 2019, Centreville Bank's most frequently cited loan purpose was Home Purchase, with 183 originations. The 2nd most popular reason was Cash Out Refi, with 149 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 237 $64,635,000 $272,722 $3,391 4.18%
    Other 132 $21,400,000 $162,121 $0 3.38%
    15 Year 58 $8,350,000 $143,966 $1,588 4.33%
    10 Year 29 $8,285,000 $285,690 $1,221 4.58%
    20 Year 24 $4,270,000 $177,917 $2,828 3.94%
    5 Year 10 $2,340,000 $234,000 $0 4.59%
    30+ year 9 $3,315,000 $368,333 $3,998 4.57%

    For 2019, Centreville Bank's most frequently cited loan duration was 30 Year, with 237 originations. The 2nd most popular length was Other, with 132 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 278 $66,340,000 $238,633
    $1k-2k 24 $6,410,000 $267,083
    $2k-3k 3 $655,000 $218,333
    $3k-4k 3 $795,000 $265,000

    Centreville Bank's average total fees were $3,391, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 278 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 191 $48,435,000 $253,586
    4-5% 169 $47,545,000 $281,331
    <2.5% 66 $7,250,000 $109,848
    5-6% 64 $7,970,000 $124,531
    6-7% 7 $1,105,000 $157,857
    2.5-3% 2 $290,000 $145,000

    During 2019, Centreville Bank's average interest rate for loans was 4.18%, while their most frequently originated rate bucket for loans was 3-4%, with 191 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 158 $43,200,000 $273,418 $3,478 4.04%
    $100k-200k 154 $22,440,000 $145,714 $2,736 3.99%
    $100,000 or less 138 $7,450,000 $53,986 $878 3.95%
    $400k-600k 31 $14,875,000 $479,839 $3,648 4.21%
    $600k-1MM 14 $9,890,000 $706,429 $4,169 4.06%
    $1MM+ 4 $14,740,000 $3,685,000 $6,154 4.05%

    2019 saw Centreville Bank place emphasis on $200k-400k loans with 158 originations, totaling $43,200,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 124 $24,740,000 $199,516 $2,828 4.08%
    $150k-250k 98 $22,230,000 $226,837 $2,906 4.07%
    $50k-75k 93 $13,495,000 $145,108 $3,039 3.78%
    $75k-100k 86 $12,740,000 $148,140 $2,668 3.89%
    $50k or less 43 $5,065,000 $117,791 $2,611 4.23%
    $250k+ 41 $17,035,000 $415,488 $3,208 3.92%

    Centreville Bank lent most frequently to those with incomes in the $100k-150k range, with 124 originations. The second most popular income band? $150k-250k, with 98 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 130 $24,810,000 $190,846 $2,690 3.84%
    30-36% 94 $19,370,000 $206,064 $2,890 4.13%
    <20% 35 $5,375,000 $153,571 $2,608 4.00%
    42% 35 $6,365,000 $181,857 $2,636 3.95%
    41% 34 $5,030,000 $147,941 $2,143 4.01%
    39% 27 $5,345,000 $197,963 $2,858 4.07%
    36% 25 $4,745,000 $189,800 $3,018 3.90%
    40% 25 $6,095,000 $243,800 $2,929 3.84%
    38% 24 $6,100,000 $254,167 $3,121 4.14%
    37% 18 $3,880,000 $215,556 $2,691 3.94%
    44% 9 $2,155,000 $239,444 $3,170 4.22%
    43% 8 $1,720,000 $215,000 $2,993 4.08%
    45% 6 $1,100,000 $183,333 $3,302 4.73%
    47% 5 $1,045,000 $209,000 $2,954 4.08%
    49% 5 $1,245,000 $249,000 $5,585 3.58%
    50-60% 4 $690,000 $172,500 $5,149 4.03%
    >60% 1 $215,000 $215,000 $0 4.38%
    46% 1 $155,000 $155,000 $2,826 4.25%

    Centreville Bank lent most frequently to those with DTI ratios of 20-30%, with 130 originations. The next most common DTI ratio? 30-36%, with 94 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 471 $91,735,000 $194,766 $2,855 4.00%
    Not applicable 8 $15,560,000 $1,945,000 $0 4.58%
    Asian 11 $2,675,000 $243,182 $3,488 3.91%
    Not provided 5 $1,575,000 $315,000 $2,485 4.08%
    Black 4 $1,050,000 $262,500 $3,901 4.06%

    Approval Rates

    Total approvals of all applications
    89.56%

    Centreville Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.77%

    Centreville Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 1 $95,000 $95,000
    NA 498 $112,500,000 $225,904

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 9 $14,285,000 $1,587,222
    Single Family (1-4 Units):Site-Built 490 $98,310,000 $200,633

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 80 $9,460,000 $118,250 $1,914 3.60%
    40-60% 75 $18,135,000 $241,800 $2,833 4.01%
    60-80% 160 $49,900,000 $311,875 $3,108 4.19%
    80-100% 90 $30,410,000 $337,889 $3,830 4.07%
    Under 20% 94 $4,690,000 $49,894 $114 4.00%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    CENTERSTATE BANK CORPORATION Conventional home mortgage Trouble during payment process 1 50.0%
    CENTERSTATE BANK CORPORATION VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Centreville Bank 1115 Boston Neck Road Narragansett, RI 2882 Full Service B&M $35,909
    Centreville Bank 1218 Main Street West Warwick, RI 2893 Full Service B&M $402,317
    Centreville Bank 193 Comstock Parkway Cranston, RI 2921 Full Service B&M $89,658
    Centreville Bank 234 West Main Street North Kingstown, RI 2852 Full Service B&M $36,341
    Centreville Bank 495 Main Street East Greenwich, RI 2818 Full Service B&M $98,426
    Centreville Bank 777 Tiogue Avenue Coventry, RI 2816 Full Service B&M $194,391
    Centreville Bank 834 Victory Highway West Greenwich, RI 2817 Full Service B&M $64,794

    For 2019, Centreville Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $43,967
    Net interest income $33,283
    Total noninterest income $3,118
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $774
    Trading account gains and fees $136
    Additional Noninterest Income $2,208
    Pre-tax net operating income $7,480
    Securities gains (or losses, -) $26,900
    Income before extraordinary items $26,170
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $26,170
    Minority interest net income $0
    Net income $26,170
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,919

    Centreville Bank's gross interest income from loans was $43,967,000.
    Centreville Bank's net interest income from loans was $33,283,000.
    Centreville Bank's fee based income from loans was $774,000.
    Centreville Bank's net income from loans was $26,170,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $10,684
    Provision for credit losses $1,600
    Total noninterest expense $27,321
    Salaries and employee benefits $16,325
    Premises and equipment expense $3,535
    Additional noninterest expense $7,461
    Applicable income taxes $8,210
    Net charge-offs $15
    Cash dividends $0

    Centreville Bank's interest expense for loans was $10,684,000.
    Centreville Bank's payroll and benefits expense were $16,325,000.
    Centreville Bank's property, plant and equipment expenses $3,535,000.

    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 $926,428
    Deposits held in domestic offices $926,428
    Deposits by Individuals, partnerships, and corporations $848,491
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $75,239
    Deposits by Commercial banks and other depository institutions in U.S. $2,698
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $154,175
    Demand deposits $154,175
    Nontransaction accounts $772,253
    Money market deposit accounts (MMDAs) $237,487
    Other savings deposits (excluding MMDAs) $223,863
    Total time deposits $310,903
    Total time and savings deposits $772,253
    Noninterest-bearing deposits $95,192
    Interest-bearing deposits $831,236
    Retail deposits $877,597
    IRAs and Keogh plan accounts $89,171
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,341,767
    Cash & Balances due from depository institutions $26,851
    Interest-bearing balances $19,926
    Total securities $446,349
    Federal funds sold & reverse repurchase $35
    Net loans and leases $808,453
    Loan and leases loss allowance $7,088
    Trading account assets $38
    Bank premises and fixed assets $20,839
    Other real estate owned $0
    Goodwill and other intangibles $144
    All other assets $39,058

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,341,767
    Total Liabilities $1,035,373
    Total deposits $926,428
    Interest-bearing deposits $831,236
    Deposits held in domestic offices $926,428
    % insured (estimated) $91
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $38
    Other borrowed funds $67,000
    Subordinated debt $0
    All other liabilities $41,907

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $808,453
    Loan and leases loss allowance $7,088
    Total loans and leases (domestic) $815,541
    All real estate loans $805,828
    Real estate loans in domestic offices $805,828
    Construction and development loans $42,306
    Residential 1-4 family construction $3,196
    Other construction, all land development and other land $39,110
    Loans secured by nonfarm nonresidential properties $253,959
    Nonfarm nonresidential secured by owner-occupied properties $99,722
    Commercial real estate & other non-farm, non-residential $154,237
    Multifamily residential real estate $60,531
    1-4 family residential loans $449,032
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $194
    Commercial and industrial loans $6,252
    To non-U.S. addressees $0
    Loans to individuals $1,068
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $21
    Other loans to individuals $1,047
    All other loans & leases $2,199
    Loans to foreign governments and official institutions $0
    Other loans $38
    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 $489
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Centreville Bank had $808,453,000 of loans outstanding in 2019. $805,828,000 of loans were in real estate loans. $42,306,000 of loans were in development loans. $60,531,000 of loans were in multifamily mortgage loans. $449,032,000 of loans were in 1-4 family mortgage loans. $194,000 of loans were in farm loans. $0 of loans were in credit card loans. $21,000 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 170 $41,092 $241,718
    Nonfarm, nonresidential loans - <$100k 39 $2,086 $53,487
    Nonfarm, nonresidential loans - $100-250k 56 $8,241 $147,161
    Nonfarm, nonresidential loans - $250k-1MM 75 $30,765 $410,200
    Commercial & Industrial, US addressed loans - <$1MM 94 $6,252 $66,511
    Commercial & Industrial, US addressed loans - <$100k 65 $2,042 $31,415
    Commercial & Industrial, US addressed loans - $100-250k 15 $1,620 $108,000
    Commercial & Industrial, US addressed loans - $250k-1MM 14 $2,590 $185,000
    Agriculture operations loans - <$1MM 1 $194 $194,000
    Agriculture operations loans - $100-250k 1 $194 $194,000