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 Cash Out Refi, Refi, and Home Improvement 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, Bridgeport, Norwich, and Hartford among others. We have data for 7 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

    605

    Origination Dollar Volume (All Markets)

    $162,005,000

    Employee count

    220

    Awards

    Centreville Bank 30 Year Conventional Loans silver Centreville Bank 30 Year Conventional Loans gold
    Show all (2) 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) 422 $106,770,000 $253,009 $2,842 2.92%
    WORCESTER, MA-CT (FHA|USDA|VA) 140 $22,710,000 $162,214 $2,657 3.12%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 1 $22,505,000 $22,505,000 $0 4.26%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 28 $5,210,000 $186,071 $2,998 3.04%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 9 $2,345,000 $260,556 $4,318 3.40%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 4 $2,110,000 $527,500 $3,433 3.13%
    Barre, VT (FHA|USDA|VA) 1 $355,000 $355,000 $2,598 2.63%
    Centreville Bank's top markets include Providence, Worcester, Bridgeport, 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.

    SOMERSET
    Similarity Rank: 87
    Homestar Mortgage, Inc.
    Similarity Rank: 156
    SCIENT Federal Credit Union
    Similarity Rank: 286
    FALL RIVER MUNICIPAL CREDIT UNION
    Similarity Rank: 396
    OCEAN STATE CREDIT UNION
    Similarity Rank: 405
    AMERICAN EAGLE FINANCIAL CREDIT UNION
    Similarity Rank: 470
    LUSO-AMERICAN CREDIT UNION
    Similarity Rank: 474
    Rhode Island Credit Union
    Similarity Rank: 524
    Sharon & Crescent United Credit Union
    Similarity Rank: 540
    WAVE FEDERAL CREDIT UNION
    Similarity Rank: 596

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 445 $144,315,000 $324,303 $2,789 3.04%
    HELOC 157 $16,865,000 $107,420 n/a 2.83%
    FHA 3 $825,000 $275,000 $7,974 2.50%

    For 2021, Centreville Bank's most frequently originated type of loan was Conventional, with 445 originations. Their 2nd most popular type was HELOC, with 157 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 235 $48,085,000 $204,617 $2,754 3.01%
    Refi 171 $39,485,000 $230,906 $2,694 2.81%
    Home Purchase 74 $22,470,000 $303,649 $3,522 3.34%
    Home Improvement 70 $45,890,000 $655,571 $2,682 3.11%
    Other 55 $6,075,000 $110,455 $0 2.75%

    For 2021, Centreville Bank's most frequently cited loan purpose was Cash Out Refi, with 235 originations. The 2nd most popular reason was Refi, with 171 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 201 $51,855,000 $257,985 $2,998 3.23%
    Other 165 $22,035,000 $133,545 $2,978 2.84%
    15 Year 117 $21,925,000 $187,393 $2,603 2.63%
    10 Year 57 $50,375,000 $883,772 $2,319 3.06%
    20 Year 54 $11,710,000 $216,852 $2,942 3.05%
    30+ year 8 $3,110,000 $388,750 $4,422 3.56%
    5 Year 3 $995,000 $331,667 $0 4.12%

    For 2021, Centreville Bank's most frequently cited loan duration was 30 Year, with 201 originations. The 2nd most popular length was Other, with 165 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 371 $84,365,000 $227,399
    $1k-2k 19 $4,155,000 $218,684
    $2k-3k 4 $910,000 $227,500

    Centreville Bank's average total fees were $2,998, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 371 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 222 $33,910,000 $152,748
    3-4% 181 $46,675,000 $257,873
    2.5-3% 157 $38,245,000 $243,599
    4-5% 44 $42,910,000 $975,227
    5-6% 1 $265,000 $265,000

    During 2021, Centreville Bank's average interest rate for loans was 3.23%, while their most frequently originated rate bucket for loans was <2.5%, with 222 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 214 $31,850,000 $148,832 $2,741 2.86%
    $200k-400k 203 $54,155,000 $266,773 $2,997 3.04%
    $100,000 or less 135 $7,925,000 $58,704 $1,845 3.02%
    $400k-600k 37 $17,965,000 $485,541 $3,472 3.10%
    $600k-1MM 11 $7,835,000 $712,273 $3,836 3.15%
    $1MM+ 5 $42,275,000 $8,455,000 $0 3.86%

    2021 saw Centreville Bank place emphasis on $100k-200k loans with 214 originations, totaling $31,850,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 146 $29,420,000 $201,507 $2,706 2.99%
    $50k-75k 135 $19,685,000 $145,815 $2,704 2.98%
    $75k-100k 103 $16,925,000 $164,320 $2,824 2.88%
    $150k-250k 93 $23,585,000 $253,602 $3,088 2.94%
    $250k+ 51 $17,725,000 $347,549 $3,245 3.02%
    $50k or less 50 $5,280,000 $105,600 $2,411 2.94%

    Centreville Bank lent most frequently to those with incomes in the $100k-150k range, with 146 originations. The second most popular income band? $50k-75k, with 135 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 165 $33,595,000 $203,606 $2,806 2.95%
    30-36% 129 $24,895,000 $192,984 $2,879 2.91%
    <20% 69 $13,835,000 $200,507 $2,840 2.86%
    42% 40 $6,520,000 $163,000 $2,914 2.91%
    40% 26 $4,070,000 $156,538 $2,371 3.06%
    36% 25 $4,545,000 $181,800 $2,877 2.84%
    41% 24 $3,260,000 $135,833 $2,396 3.20%
    38% 21 $2,965,000 $141,190 $2,866 2.85%
    39% 21 $4,975,000 $236,905 $2,554 3.06%
    37% 18 $3,220,000 $178,889 $2,864 3.10%
    43% 8 $1,870,000 $233,750 $2,595 3.19%
    46% 7 $2,055,000 $293,571 $3,049 3.29%
    49% 7 $1,985,000 $283,571 $3,167 2.82%
    48% 7 $1,435,000 $205,000 $2,687 2.89%
    44% 6 $1,600,000 $266,667 $2,974 3.06%
    47% 5 $1,065,000 $213,000 $2,804 2.85%
    45% 5 $1,125,000 $225,000 $2,911 3.00%
    50-60% 1 $385,000 $385,000 $10,134 2.75%

    Centreville Bank lent most frequently to those with DTI ratios of 20-30%, with 165 originations. The next most common DTI ratio? 30-36%, with 129 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 575 $110,685,000 $192,496 $2,810 2.96%
    Not applicable 18 $47,630,000 $2,646,111 $0 3.98%
    Asian 11 $3,425,000 $311,364 $3,083 2.69%
    Black 1 $265,000 $265,000 $8,175 2.38%

    Approval Rates

    Total approvals of all applications
    89.61%

    Centreville Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.92%

    Centreville Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 605 $162,005,000 $267,777

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    605 $162,005,000 $267,777

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 134 $17,140,000 $127,910 $2,536 2.75%
    40-60% 138 $29,850,000 $216,304 $2,684 2.80%
    60-80% 196 $95,370,000 $486,582 $3,022 3.21%
    80-100% 43 $12,265,000 $285,233 $3,636 3.18%
    Under 20% 93 $7,005,000 $75,323 $1,732 3.02%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Central Mortgage Funding, LLC Conventional home 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 100 Averill Road Pomfret Center, CT 6259 Full Service B&M $45,140
    Centreville Bank 11 Pratt Road Plainfield, CT 6374 Full Service B&M $45,627
    Centreville Bank 1115 Boston Neck Road Narragansett, RI 2882 Full Service B&M $39,844
    Centreville Bank 1218 Main St West Warwick, RI 2893 Full Service B&M $483,808
    Centreville Bank 125 Wauregan Road, Route 12 Danielson, CT 6239 Full Service B&M $53,526
    Centreville Bank 193 Comstock Parkway Cranston, RI 2921 Full Service B&M $86,042
    Centreville Bank 2 Chapman Lane, P O Box 266 Gales Ferry, CT 6335 Full Service B&M $20,495
    Centreville Bank 234 West Main Street North Kingstown, RI 2852 Full Service B&M $52,423
    Centreville Bank 251 Kennedy Drive Putnam, CT 6260 Full Service Retail $13,665
    Centreville Bank 40 High Street Norwich, CT 6360 Full Service B&M $12,542
    Centreville Bank 40 Main Street Putnam, CT 6260 Full Service B&M $173,445
    Centreville Bank 461 Voluntown Road, Route 138 Griswold, CT 6351 Full Service B&M $45,822
    Centreville Bank 495 Main Street East Greenwich, RI 2818 Full Service B&M $99,531
    Centreville Bank 56 Rolfe Sq Cranston, RI 2910 Full Service B&M $518
    Centreville Bank 56 Rolfe Square Cranston, RI 2910 Full Service B&M $0
    Centreville Bank 578 Greenwich Ave Warwick, RI 2886 Full Service Retail $3,513
    Centreville Bank 578 Greenwich Avenue Warwick, RI 2886 Full Service B&M $0
    Centreville Bank 777 Tiogue Avenue Coventry, RI 2816 Full Service B&M $214,147
    Centreville Bank 834 Victory Highway West Greenwich, RI 2817 Full Service B&M $81,044

    For 2021, Centreville Bank had 19 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $60,216
    Net interest income $55,604
    Total noninterest income $6,806
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,748
    Trading account gains and fees $255
    Additional Noninterest Income $4,803
    Pre-tax net operating income $20,976
    Securities gains (or losses, -) $32,154
    Income before extraordinary items $40,100
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $40,100
    Minority interest net income $0
    Net income $40,100
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $14,698

    Centreville Bank's gross interest income from loans was $60,216,000.
    Centreville Bank's net interest income from loans was $55,604,000.
    Centreville Bank's fee based income from loans was $1,748,000.
    Centreville Bank's net income from loans was $40,100,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,612
    Provision for credit losses $525
    Total noninterest expense $40,909
    Salaries and employee benefits $24,581
    Premises and equipment expense $6,049
    Additional noninterest expense $10,279
    Applicable income taxes $13,030
    Net charge-offs $70
    Cash dividends $0

    Centreville Bank's interest expense for loans was $4,612,000.
    Centreville Bank's payroll and benefits expense were $24,581,000.
    Centreville Bank's property, plant and equipment expenses $6,049,000.

    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 1.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 2.0%
    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 $1,493,723
    Deposits held in domestic offices $1,493,723
    Deposits by Individuals, partnerships, and corporations $1,404,736
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $86,999
    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 $449,494
    Demand deposits $449,494
    Nontransaction accounts $1,044,228
    Money market deposit accounts (MMDAs) $349,579
    Other savings deposits (excluding MMDAs) $368,997
    Total time deposits $325,653
    Total time and savings deposits $1,044,228
    Noninterest-bearing deposits $263,249
    Interest-bearing deposits $1,230,474
    Retail deposits $1,434,438
    IRAs and Keogh plan accounts $115,609
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,917,548
    Cash & Balances due from depository institutions $75,683
    Interest-bearing balances $69,183
    Total securities $482,157
    Federal funds sold & reverse repurchase $1,295
    Net loans and leases $1,214,569
    Loan and leases loss allowance $11,379
    Trading account assets $1,558
    Bank premises and fixed assets $26,563
    Other real estate owned $0
    Goodwill and other intangibles $40,131
    All other assets $75,592

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,917,548
    Total Liabilities $1,557,884
    Total deposits $1,493,723
    Interest-bearing deposits $1,230,474
    Deposits held in domestic offices $1,493,723
    % insured (estimated) $88
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $1,558
    Other borrowed funds $9,016
    Subordinated debt $0
    All other liabilities $53,587

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,214,569
    Loan and leases loss allowance $11,379
    Total loans and leases (domestic) $1,225,948
    All real estate loans $1,183,901
    Real estate loans in domestic offices $1,183,901
    Construction and development loans $88,899
    Residential 1-4 family construction $1,891
    Other construction, all land development and other land $87,008
    Loans secured by nonfarm nonresidential properties $579,928
    Nonfarm nonresidential secured by owner-occupied properties $184,925
    Commercial real estate & other non-farm, non-residential $395,003
    Multifamily residential real estate $73,762
    1-4 family residential loans $441,232
    Farmland loans $80
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $30,570
    To non-U.S. addressees $0
    Loans to individuals $939
    Credit card loans $0
    Related Plans $10
    Consumer Auto Loans $127
    Other loans to individuals $802
    All other loans & leases $10,538
    Loans to foreign governments and official institutions $0
    Other loans $339
    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 $12,988
    Non 1-4 family restructured loans & leases $12,751
    Total loans and leases (foreign) $0

    Centreville Bank had $1,214,569,000 of loans outstanding in 2021. $1,183,901,000 of loans were in real estate loans. $88,899,000 of loans were in development loans. $73,762,000 of loans were in multifamily mortgage loans. $441,232,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $127,000 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 259 $62,612 $241,745
    Nonfarm, nonresidential loans - <$100k 42 $1,381 $32,881
    Nonfarm, nonresidential loans - $100-250k 94 $12,029 $127,968
    Nonfarm, nonresidential loans - $250k-1MM 123 $49,202 $400,016
    Commercial & Industrial, US addressed loans - <$1MM 270 $21,054 $77,978
    Commercial & Industrial, US addressed loans - <$100k 180 $4,446 $24,700
    Commercial & Industrial, US addressed loans - $100-250k 53 $6,205 $117,075
    Commercial & Industrial, US addressed loans - $250k-1MM 37 $10,403 $281,162
    Farmland loans - <$1MM 3 $78 $26,000
    Farmland loans - <$100k 2 $52 $26,000
    Farmland loans - $100-250k 1 $26 $26,000