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 Refi and Cash Out 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, Worcester, Boston, Norwich, and Hartford among others. We have data for 8 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% 12/16/24
    30 Year Conventional Purchase 6.09% 12/16/24
    30 Year Conventional Refi 6.13% 12/16/24
    30 Year Cash-out Refi 6.45% 12/16/24
    30 Year FHA Purchase 7.11% 12/16/24
    15 Year Conventional Purchase 5.34% 12/16/24
    15 Year Conventional Refi 5.55% 12/16/24
    15 Year Cash-out Refi 5.55% 12/16/24
    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

    768

    Origination Dollar Volume (All Markets)

    $182,310,000

    Employee count

    205

    Awards

    Centreville Bank 30 Year Conventional Loans silver Centreville Bank 30 Year Conventional Loans bronze Centreville Bank 30 Year Conventional Loans silver Centreville Bank 30 Year Conventional Loans gold
    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
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 636 $151,710,000 $238,538 $2,835 3.20%
    WORCESTER, MA-CT (FHA|USDA|VA) 87 $14,395,000 $165,460 $2,538 3.26%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 8 $7,970,000 $996,250 $3,007 3.46%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 24 $4,270,000 $177,917 $2,802 3.18%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 8 $1,580,000 $197,500 $2,829 3.03%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 1 $935,000 $935,000 $0 3.99%
    SPRINGFIELD, MA (FHA|USDA|VA) 3 $835,000 $278,333 $2,889 2.88%
    Outside of Metro Areas 1 $615,000 $615,000 $4,745 3.00%
    Centreville Bank's top markets include Providence, Worcester, Boston, Norwich, and Hartford among others.

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

    Homestar Mortgage, Inc.
    Similarity Rank: 166
    SOMERSET
    Similarity Rank: 169
    OCEAN STATE CREDIT UNION
    Similarity Rank: 252
    LUSO-AMERICAN CREDIT UNION
    Similarity Rank: 258
    AMERICAN EAGLE FINANCIAL CREDIT UNION
    Similarity Rank: 280
    Piscataqua Savings Bank
    Similarity Rank: 310
    Rhode Island Credit Union
    Similarity Rank: 510
    COMMUNITY CREDIT UNION OF LYNN
    Similarity Rank: 525
    Triangle Credit Union
    Similarity Rank: 696
    NEW HAMPSHIRE
    Similarity Rank: 756

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 621 $166,505,000 $268,124 $2,774 3.22%
    HELOC 144 $14,950,000 $103,819 n/a 3.18%
    FHA 3 $855,000 $285,000 $8,227 2.83%

    For 2020, Centreville Bank's most frequently originated type of loan was Conventional, with 621 originations. Their 2nd most popular type was HELOC, with 144 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 317 $90,205,000 $284,558 $2,727 3.00%
    Cash Out Refi 229 $46,835,000 $204,520 $2,931 3.22%
    Home Purchase 117 $33,175,000 $283,547 $3,435 3.39%
    Home Improvement 59 $7,215,000 $122,288 $459 3.66%
    Other 46 $4,880,000 $106,087 $957 3.50%

    For 2020, Centreville Bank's most frequently cited loan purpose was Refi, with 317 originations. The 2nd most popular reason was Cash Out Refi, with 229 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 361 $93,335,000 $258,546 $3,025 3.29%
    Other 155 $18,905,000 $121,968 $3,197 3.16%
    15 Year 148 $28,120,000 $190,000 $2,390 3.00%
    20 Year 60 $11,950,000 $199,167 $2,779 3.11%
    10 Year 37 $25,975,000 $702,027 $1,804 3.49%
    30+ year 4 $1,780,000 $445,000 $5,729 3.47%
    5 Year 3 $2,245,000 $748,333 $0 3.83%

    For 2020, Centreville Bank's most frequently cited loan duration was 30 Year, with 361 originations. The 2nd most popular length was Other, with 155 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 521 $122,465,000 $235,058
    $1k-2k 34 $7,520,000 $221,176
    $2k-3k 6 $1,950,000 $325,000
    $3k-4k 3 $675,000 $225,000
    $4k-5k 2 $1,170,000 $585,000

    Centreville Bank's average total fees were $3,025, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 521 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 317 $93,385,000 $294,590
    2.5-3% 248 $58,420,000 $235,565
    <2.5% 125 $17,645,000 $141,160
    4-5% 69 $12,215,000 $177,029
    5-6% 9 $645,000 $71,667

    During 2020, Centreville Bank's average interest rate for loans was 3.29%, while their most frequently originated rate bucket for loans was 3-4%, with 317 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 282 $78,040,000 $276,738 $3,047 3.15%
    $100k-200k 276 $41,580,000 $150,652 $2,662 3.12%
    $100,000 or less 147 $8,275,000 $56,293 $1,457 3.45%
    $400k-600k 39 $18,085,000 $463,718 $3,449 3.11%
    $600k-1MM 13 $10,625,000 $817,308 $4,419 3.32%
    $1MM+ 11 $25,705,000 $2,336,818 $8,471 3.71%

    2020 saw Centreville Bank place emphasis on $200k-400k loans with 282 originations, totaling $78,040,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 166 $34,900,000 $210,241 $2,824 3.21%
    $50k-75k 162 $24,130,000 $148,951 $2,577 3.24%
    $150k-250k 146 $37,530,000 $257,055 $2,951 3.13%
    $75k-100k 146 $26,750,000 $183,219 $2,779 3.21%
    $50k or less 69 $7,755,000 $112,391 $2,484 3.09%
    $250k+ 55 $23,875,000 $434,091 $3,507 3.22%

    Centreville Bank lent most frequently to those with incomes in the $100k-150k range, with 166 originations. The second most popular income band? $50k-75k, with 162 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 221 $50,265,000 $227,443 $2,881 3.09%
    30-36% 174 $34,650,000 $199,138 $2,786 3.23%
    <20% 75 $16,285,000 $217,133 $2,719 3.09%
    42% 33 $6,125,000 $185,606 $2,877 3.33%
    39% 30 $5,020,000 $167,333 $2,531 3.28%
    40% 28 $4,430,000 $158,214 $2,780 3.31%
    37% 27 $4,685,000 $173,519 $2,665 3.12%
    41% 27 $4,345,000 $160,926 $2,396 3.37%
    36% 26 $5,170,000 $198,846 $2,505 3.31%
    44% 23 $4,755,000 $206,739 $2,692 3.35%
    38% 22 $4,500,000 $204,545 $2,576 3.39%
    43% 18 $4,280,000 $237,778 $3,411 3.25%
    45% 14 $3,370,000 $240,714 $2,970 3.14%
    46% 10 $2,530,000 $253,000 $2,818 3.16%
    50-60% 7 $1,875,000 $267,857 $3,688 3.13%
    47% 7 $1,315,000 $187,857 $2,777 3.11%
    49% 4 $1,270,000 $317,500 $2,999 3.00%
    48% 3 $775,000 $258,333 $3,446 3.46%

    Centreville Bank lent most frequently to those with DTI ratios of 20-30%, with 221 originations. The next most common DTI ratio? 30-36%, with 174 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 734 $152,740,000 $208,093 $2,797 3.18%
    Not applicable 16 $25,140,000 $1,571,250 $0 3.83%
    Asian 6 $2,310,000 $385,000 $2,706 3.71%
    Black 8 $1,300,000 $162,500 $2,895 3.80%
    Not provided 4 $820,000 $205,000 $3,599 3.13%

    Approval Rates

    Total approvals of all applications
    87.46%

    Centreville Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.11%

    Centreville Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 768 $182,310,000 $237,383

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 12 $21,600,000 $1,800,000
    Single Family (1-4 Units):Site-Built 756 $160,710,000 $212,579

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 124 $21,740,000 $175,323 $2,474 3.06%
    40-60% 173 $44,895,000 $259,509 $2,754 3.01%
    60-80% 288 $80,870,000 $280,799 $2,947 3.28%
    80-100% 103 $30,965,000 $300,631 $3,278 3.19%
    Under 20% 79 $3,685,000 $46,646 $437 3.59%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    CENTERSTATE BANK CORPORATION Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 25.0%
    CENTERSTATE BANK CORPORATION Conventional home mortgage Trouble during payment process 2 50.0%
    CENTERSTATE BANK CORPORATION FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 25.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Centreville Bank 100 Averill Road Pomfret Center, CT 6259 Full Service B&M $49,016
    Centreville Bank 11 Pratt Road Plainfield, CT 6374 Full Service B&M $47,418
    Centreville Bank 1115 Boston Neck Road Narragansett, RI 2882 Full Service B&M $41,776
    Centreville Bank 1218 Main Street West Warwick, RI 2893 Full Service B&M $404,332
    Centreville Bank 125 Wauregan Road, Route 12 Danielson, CT 6239 Full Service B&M $52,354
    Centreville Bank 193 Comstock Parkway Cranston, RI 2921 Full Service B&M $90,442
    Centreville Bank 2 Chapman Lane, P O Box 266 Gales Ferry, CT 6335 Full Service B&M $22,005
    Centreville Bank 234 West Main Street North Kingstown, RI 2852 Full Service B&M $52,589
    Centreville Bank 251 Kennedy Drive Putnam, CT 6260 Full Service Retail $13,553
    Centreville Bank 40 High Street Norwich, CT 6360 Full Service B&M $14,992
    Centreville Bank 40 Main Street Putnam, CT 6260 Full Service B&M $177,671
    Centreville Bank 461 Voluntown Road, Route 138 Griswold, CT 6351 Full Service B&M $43,915
    Centreville Bank 495 Main Street East Greenwich, RI 2818 Full Service B&M $102,094
    Centreville Bank 578 Greenwich Ave Warwick, RI 2886 Full Service Retail $581
    Centreville Bank 777 Tiogue Avenue Coventry, RI 2816 Full Service B&M $203,884
    Centreville Bank 834 Victory Highway West Greenwich, RI 2817 Full Service B&M $74,469

    For 2020, Centreville Bank had 16 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $54,529
    Net interest income $46,295
    Total noninterest income $8,059
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $933
    Trading account gains and fees $1,652
    Additional Noninterest Income $5,474
    Pre-tax net operating income $10,892
    Securities gains (or losses, -) $4,476
    Income before extraordinary items $12,070
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $12,070
    Minority interest net income $0
    Net income $12,070
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $8,533

    Centreville Bank's gross interest income from loans was $54,529,000.
    Centreville Bank's net interest income from loans was $46,295,000.
    Centreville Bank's fee based income from loans was $933,000.
    Centreville Bank's net income from loans was $12,070,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $8,234
    Provision for credit losses $5,786
    Total noninterest expense $37,676
    Salaries and employee benefits $21,728
    Premises and equipment expense $4,991
    Additional noninterest expense $10,957
    Applicable income taxes $3,298
    Net charge-offs $1,950
    Cash dividends $0

    Centreville Bank's interest expense for loans was $8,234,000.
    Centreville Bank's payroll and benefits expense were $21,728,000.
    Centreville Bank's property, plant and equipment expenses $4,991,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 2.0%
    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 $1,454,062
    Deposits held in domestic offices $1,454,062
    Deposits by Individuals, partnerships, and corporations $1,377,651
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $74,424
    Deposits by Commercial banks and other depository institutions in U.S. $1,987
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $411,398
    Demand deposits $411,398
    Nontransaction accounts $1,042,664
    Money market deposit accounts (MMDAs) $307,223
    Other savings deposits (excluding MMDAs) $346,698
    Total time deposits $388,743
    Total time and savings deposits $1,042,664
    Noninterest-bearing deposits $237,310
    Interest-bearing deposits $1,216,752
    Retail deposits $1,385,400
    IRAs and Keogh plan accounts $124,627
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,889,935
    Cash & Balances due from depository institutions $73,710
    Interest-bearing balances $64,931
    Total securities $412,681
    Federal funds sold & reverse repurchase $742
    Net loans and leases $1,275,406
    Loan and leases loss allowance $10,924
    Trading account assets $1,044
    Bank premises and fixed assets $28,424
    Other real estate owned $0
    Goodwill and other intangibles $36,129
    All other assets $61,799

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,889,935
    Total Liabilities $1,568,695
    Total deposits $1,454,062
    Interest-bearing deposits $1,216,752
    Deposits held in domestic offices $1,454,062
    % insured (estimated) $89
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $1,044
    Other borrowed funds $67,680
    Subordinated debt $0
    All other liabilities $45,909

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,275,406
    Loan and leases loss allowance $10,924
    Total loans and leases (domestic) $1,286,330
    All real estate loans $1,206,024
    Real estate loans in domestic offices $1,206,024
    Construction and development loans $106,526
    Residential 1-4 family construction $4,669
    Other construction, all land development and other land $101,857
    Loans secured by nonfarm nonresidential properties $477,317
    Nonfarm nonresidential secured by owner-occupied properties $145,626
    Commercial real estate & other non-farm, non-residential $331,691
    Multifamily residential real estate $80,870
    1-4 family residential loans $541,219
    Farmland loans $92
    Loans held in foreign offices $0
    Farm loans $192
    Commercial and industrial loans $65,360
    To non-U.S. addressees $0
    Loans to individuals $1,325
    Credit card loans $0
    Related Plans $11
    Consumer Auto Loans $150
    Other loans to individuals $1,164
    All other loans & leases $13,429
    Loans to foreign governments and official institutions $0
    Other loans $223
    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 $13,435
    Non 1-4 family restructured loans & leases $12,827
    Total loans and leases (foreign) $0

    Centreville Bank had $1,275,406,000 of loans outstanding in 2020. $1,206,024,000 of loans were in real estate loans. $106,526,000 of loans were in development loans. $80,870,000 of loans were in multifamily mortgage loans. $541,219,000 of loans were in 1-4 family mortgage loans. $192,000 of loans were in farm loans. $0 of loans were in credit card loans. $150,000 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 276 $66,113 $239,540
    Nonfarm, nonresidential loans - <$100k 54 $1,864 $34,519
    Nonfarm, nonresidential loans - $100-250k 99 $13,051 $131,828
    Nonfarm, nonresidential loans - $250k-1MM 123 $51,198 $416,244
    Commercial & Industrial, US addressed loans - <$1MM 674 $46,726 $69,326
    Commercial & Industrial, US addressed loans - <$100k 497 $14,273 $28,718
    Commercial & Industrial, US addressed loans - $100-250k 119 $14,390 $120,924
    Commercial & Industrial, US addressed loans - $250k-1MM 58 $18,063 $311,431
    Farmland loans - <$1MM 3 $90 $30,000
    Farmland loans - <$100k 2 $60 $30,000
    Farmland loans - $100-250k 1 $30 $30,000
    Agriculture operations loans - <$1MM 1 $192 $192,000
    Agriculture operations loans - $100-250k 1 $192 $192,000