Provident Savings Bank F.s.b. Mortgage Rates, Fees & Info

Riverside, CA

LEI: 549300VRYDYOPWK5MO08

Tax ID: 95-1897077

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

    Provident Savings Bank F.s.b. is a smaller bank specializing in Home Purchase and Refi loans. Provident Savings Bank F.s.b. has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Riverside, Los Angeles, Sacramento, San Diego, and San Francisco among others. We have data for 23 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Provident Savings Bank F.s.b. 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. Provident Savings Bank F.s.b. is typically an average 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.16% 4/21/24
    30 Year Conventional Refi 6.11% 4/21/24
    30 Year Cash-out Refi 6.15% 4/21/24
    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.

    Provident Savings Bank F.s.b. Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Provident Savings Bank F.s.b.. 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

    466

    Origination Dollar Volume (All Markets)

    $211,880,000

    Employee count

    184

    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
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 186 $69,220,000 $372,151 $7,193 4.73%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 110 $66,870,000 $607,909 $7,660 4.65%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 64 $23,160,000 $361,875 $6,208 4.69%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 38 $19,110,000 $502,895 $6,552 4.58%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 20 $13,030,000 $651,500 $8,350 4.72%
    SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 9 $3,675,000 $408,333 $6,069 4.97%
    SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 9 $3,605,000 $400,556 $4,527 4.92%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 6 $2,780,000 $463,333 $4,253 5.25%
    FRESNO, CA (FHA|USDA|VA) 4 $1,850,000 $462,500 $3,317 4.61%
    BAKERSFIELD, CA (FHA|USDA|VA) 1 $1,105,000 $1,105,000 $0 4.80%
    SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 4 $1,100,000 $275,000 $5,566 4.72%
    SALINAS, CA (FHA|USDA|VA) 1 $935,000 $935,000 $0 3.85%
    CHICO, CA (FHA|USDA|VA) 3 $805,000 $268,333 $3,012 4.63%
    SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 1 $805,000 $805,000 $0 4.40%
    Ukiah, CA (FHA|USDA|VA) 1 $715,000 $715,000 $0 4.63%
    MODESTO, CA (FHA|USDA|VA) 2 $620,000 $310,000 $3,345 5.63%
    MERCED, CA (FHA|USDA|VA) 1 $585,000 $585,000 $0 4.95%
    STOCKTON, CA (FHA|USDA|VA) 1 $455,000 $455,000 $13,587 5.63%
    Outside of Metro Areas 1 $415,000 $415,000 $7,931 4.50%
    VALLEJO, CA (FHA|USDA|VA) 1 $335,000 $335,000 $3,598 5.50%
    YUBA CITY, CA (FHA|USDA|VA) 1 $295,000 $295,000 $9,431 5.50%
    MADERA, CA (FHA|USDA|VA) 1 $215,000 $215,000 $7,223 4.88%
    Crescent City, CA (FHA|USDA|VA) 1 $195,000 $195,000 $3,183 5.13%
    Provident Savings Bank F.s.b.'s top markets include Riverside, Los Angeles, Sacramento, San Diego, and San Francisco among others.

    Their top states include:
  • California (FHA|USDA|VA)

    • Similar Lenders

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

    SESLOC
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    Similarity Rank: 147
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    LONG BEACH CITY EMPLOYEES Federal Credit Union
    Similarity Rank: 290
    COMMUNITY FIRST CREDIT UNION
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    HERITAGE COMMUNITY CREDIT UNION
    Similarity Rank: 318
    SAFEAMERICA CREDIT UNION
    Similarity Rank: 368
    SOUTHLAND CREDIT UNION
    Similarity Rank: 464
    El Dorado Savings Bank, F.S.B.
    Similarity Rank: 546
    SANTA CLARA COUNTY
    Similarity Rank: 630

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 373 $177,975,000 $477,145 $5,675 4.76%
    FHA 61 $20,935,000 $343,197 $11,384 4.56%
    VA 32 $12,970,000 $405,313 $9,117 4.45%

    For 2019, Provident Savings Bank F.s.b.'s most frequently originated type of loan was Conventional, with 373 originations. Their 2nd most popular type was FHA, with 61 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 276 $119,090,000 $431,486 $7,723 4.71%
    Refi 99 $63,575,000 $642,172 $5,160 4.58%
    Cash Out Refi 82 $26,340,000 $321,220 $5,358 4.93%
    Home Improvement 9 $2,875,000 $319,444 $6,628 4.43%

    For 2019, Provident Savings Bank F.s.b.'s most frequently cited loan purpose was Home Purchase, with 276 originations. The 2nd most popular reason was Refi, with 99 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 444 $203,630,000 $458,626 $7,026 4.71%
    15 Year 8 $1,710,000 $213,750 $3,359 4.28%
    10 Year 5 $2,095,000 $419,000 $3,514 5.01%
    Other 5 $2,735,000 $547,000 $5,410 4.74%
    30+ year 3 $1,675,000 $558,333 $7,055 4.63%
    20 Year 1 $35,000 $35,000 $2,052 7.75%

    For 2019, Provident Savings Bank F.s.b.'s most frequently cited loan duration was 30 Year, with 444 originations. The 2nd most popular length was 15 Year, with 8 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 130 $49,460,000 $380,462
    $<1k 82 $32,310,000 $394,024
    $5k+ 61 $25,065,000 $410,902
    $2k-3k 47 $17,895,000 $380,745
    $3k-4k 30 $11,510,000 $383,667
    $4k-5k 24 $10,330,000 $430,417

    Provident Savings Bank F.s.b.'s average total fees were $7,026, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 130 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 317 $145,905,000 $460,268
    5-6% 89 $31,245,000 $351,067
    3-4% 52 $33,640,000 $646,923
    6-7% 7 $1,055,000 $150,714
    7-8% 1 $35,000 $35,000

    During 2019, Provident Savings Bank F.s.b.'s average interest rate for loans was 4.71%, while their most frequently originated rate bucket for loans was 4-5%, with 317 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 203 $61,585,000 $303,374 $6,729 4.82%
    $400k-600k 124 $59,930,000 $483,306 $7,701 4.60%
    $600k-1MM 76 $57,500,000 $756,579 $8,768 4.44%
    $100k-200k 37 $6,095,000 $164,730 $4,642 4.88%
    $1MM+ 18 $26,340,000 $1,463,333 $6,713 4.40%
    $100,000 or less 8 $430,000 $53,750 $1,806 6.31%

    2019 saw Provident Savings Bank F.s.b. place emphasis on $200k-400k loans with 203 originations, totaling $61,585,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 102 $40,990,000 $401,863 $7,581 4.79%
    $50k-75k 85 $23,375,000 $275,000 $5,895 4.83%
    $75k-100k 82 $26,920,000 $328,293 $7,458 4.72%
    $150k-250k 65 $32,755,000 $503,923 $6,921 4.61%
    $250k+ 31 $21,725,000 $700,806 $6,660 4.73%
    $50k or less 18 $3,670,000 $203,889 $5,728 4.86%

    Provident Savings Bank F.s.b. lent most frequently to those with incomes in the $100k-150k range, with 102 originations. The second most popular income band? $50k-75k, with 85 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 56 $23,730,000 $423,750 $6,603 4.71%
    40% 33 $12,045,000 $365,000 $5,270 4.94%
    20-30% 31 $12,005,000 $387,258 $6,605 4.71%
    50-60% 27 $9,875,000 $365,741 $10,151 4.53%
    39% 24 $10,270,000 $427,917 $5,831 4.71%
    49% 23 $8,105,000 $352,391 $5,155 4.92%
    42% 23 $9,085,000 $395,000 $6,918 4.91%
    43% 22 $6,690,000 $304,091 $8,682 5.03%
    44% 20 $7,050,000 $352,500 $9,392 4.81%
    46% 18 $6,160,000 $342,222 $6,905 4.76%
    41% 16 $7,230,000 $451,875 $6,561 4.45%
    38% 16 $5,740,000 $358,750 $6,795 4.73%
    <20% 14 $5,210,000 $372,143 $5,215 4.72%
    48% 13 $4,085,000 $314,231 $6,436 4.87%
    45% 12 $4,550,000 $379,167 $6,130 4.71%
    47% 12 $4,460,000 $371,667 $7,401 4.71%
    36% 11 $5,195,000 $472,273 $6,743 4.52%
    37% 10 $6,890,000 $689,000 $6,949 4.51%
    >60% 1 $345,000 $345,000 $4,195 4.88%

    Provident Savings Bank F.s.b. lent most frequently to those with DTI ratios of 30-36%, with 56 originations. The next most common DTI ratio? 40%, with 33 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 285 $115,455,000 $405,105 $6,807 4.69%
    Not applicable 54 $42,820,000 $792,963 $0 4.54%
    Not provided 59 $24,345,000 $412,627 $6,583 4.71%
    Asian 33 $16,765,000 $508,030 $7,425 4.87%
    Black 22 $8,080,000 $367,273 $9,873 4.98%
    Native Hawaiian or Islander 7 $2,165,000 $309,286 $5,242 5.11%
    American Indian 5 $2,005,000 $401,000 $4,594 5.22%
    Other Pacific Islander 1 $245,000 $245,000 $3,524 4.50%

    Approval Rates

    Total approvals of all applications
    87.92%

    Provident Savings Bank F.s.b. has an average approval rate.

    Pick Rate

    Approvals leading to origination
    51.72%

    Provident Savings Bank F.s.b. has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 466 $211,880,000 $454,678

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 76 $57,980,000 $762,895
    Single Family (1-4 Units):Manufactured 7 $1,735,000 $247,857
    Single Family (1-4 Units):Site-Built 383 $152,165,000 $397,298

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 42 $20,450,000 $486,905 $4,199 4.67%
    40-60% 78 $47,640,000 $610,769 $4,945 4.59%
    60-80% 159 $72,365,000 $455,126 $6,080 4.75%
    80-100% 165 $65,295,000 $395,727 $8,350 4.68%
    Over 100% 7 $3,265,000 $466,429 $14,327 4.59%
    Under 20% 14 $2,300,000 $164,286 $2,538 5.58%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    PROVIDENT FUNDING ASSOCIATES Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 6 20.0%
    PROVIDENT FUNDING ASSOCIATES Conventional home mortgage Closing on a mortgage 2 6.7%
    PROVIDENT FUNDING ASSOCIATES Conventional home mortgage Incorrect information on your report 1 3.3%
    PROVIDENT FUNDING ASSOCIATES Conventional home mortgage Struggling to pay mortgage 5 16.7%
    PROVIDENT FUNDING ASSOCIATES Conventional home mortgage Trouble during payment process 12 40.0%
    PROVIDENT FUNDING ASSOCIATES FHA mortgage Trouble during payment process 1 3.3%
    PROVIDENT FUNDING ASSOCIATES Other type of mortgage Closing on a mortgage 1 3.3%
    PROVIDENT FUNDING ASSOCIATES Other type of mortgage Trouble during payment process 2 6.7%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Provident Savings Bank, F.S.B. 12460 Heacock St Moreno Valley, CA 92553 Full Service B&M $69,716
    Provident Savings Bank, F.S.B. 125 East Citrus Avenue Redlands, CA 92373 Full Service B&M $100,005
    Provident Savings Bank, F.S.B. 1690 E Florida Ave Hemet, CA 92544 Full Service B&M $80,608
    Provident Savings Bank, F.S.B. 19348 Van Buren Blvd, Ste.119 Riverside, CA 92508 Full Service B&M $34,520
    Provident Savings Bank, F.S.B. 27010 Sun City Boulevard Sun City, CA 92586 Full Service B&M $74,726
    Provident Savings Bank, F.S.B. 3312 La Sierra Ave Ste 105 Riverside, CA 92503 Full Service B&M $20,364
    Provident Savings Bank, F.S.B. 350 East Hobson Way Blythe, CA 92225 Full Service B&M $54,379
    Provident Savings Bank, F.S.B. 3756 Central Ave Riverside, CA 92506 Limited, Administrative $0
    Provident Savings Bank, F.S.B. 4001 Main Street Riverside, CA 92501 Full Service B&M $36,856
    Provident Savings Bank, F.S.B. 40705 Winchester Road, Suite 6 Temecula, CA 92591 Full Service B&M $22,748
    Provident Savings Bank, F.S.B. 487 Magnolia Avenue, Suite 101 Corona, CA 92879 Full Service B&M $26,012
    Provident Savings Bank, F.S.B. 5225 Canyon Crest Dr, Suite 86 Riverside, CA 92507 Full Service B&M $69,753
    Provident Savings Bank, F.S.B. 6570 Magnolia Ave Riverside, CA 92506 Full Service B&M $212,020
    Provident Savings Bank, F.S.B. 71-991 Highway 111 Rancho Mirage, CA 92270 Full Service B&M $52,196

    For 2019, Provident Savings Bank F.s.b. had 14 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $45,119
    Net interest income $39,067
    Total noninterest income $6,464
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,710
    Trading account gains and fees $0
    Additional Noninterest Income $4,754
    Pre-tax net operating income $8,990
    Securities gains (or losses, -) $0
    Income before extraordinary items $6,464
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $6,464
    Minority interest net income $0
    Net income $6,464
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $6,464

    Provident Savings Bank F.s.b.'s gross interest income from loans was $45,119,000.
    Provident Savings Bank F.s.b.'s net interest income from loans was $39,067,000.
    Provident Savings Bank F.s.b.'s fee based income from loans was $1,710,000.
    Provident Savings Bank F.s.b.'s net income from loans was $6,464,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $6,052
    Provision for credit losses $-224
    Total noninterest expense $36,765
    Salaries and employee benefits $24,268
    Premises and equipment expense $5,500
    Additional noninterest expense $6,997
    Applicable income taxes $2,526
    Net charge-offs $-84
    Cash dividends $7,500

    Provident Savings Bank F.s.b.'s interest expense for loans was $6,052,000.
    Provident Savings Bank F.s.b.'s payroll and benefits expense were $24,268,000.
    Provident Savings Bank F.s.b.'s property, plant and equipment expenses $5,500,000.

    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 7.0%
    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 $848,896
    Deposits held in domestic offices $848,896
    Deposits by Individuals, partnerships, and corporations $839,281
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $9,615
    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 $90,781
    Demand deposits $73,597
    Nontransaction accounts $758,115
    Money market deposit accounts (MMDAs) $286,093
    Other savings deposits (excluding MMDAs) $286,125
    Total time deposits $185,896
    Total time and savings deposits $775,299
    Noninterest-bearing deposits $91,097
    Interest-bearing deposits $757,799
    Retail deposits $813,747
    IRAs and Keogh plan accounts $39,132
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,107,379
    Cash & Balances due from depository institutions $49,096
    Interest-bearing balances $43,494
    Total securities $81,598
    Federal funds sold & reverse repurchase $0
    Net loans and leases $941,729
    Loan and leases loss allowance $6,921
    Trading account assets $0
    Bank premises and fixed assets $10,864
    Other real estate owned $0
    Goodwill and other intangibles $528
    All other assets $23,564

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,107,379
    Total Liabilities $993,850
    Total deposits $848,896
    Interest-bearing deposits $757,799
    Deposits held in domestic offices $848,896
    % insured (estimated) $75
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $131,085
    Subordinated debt $0
    All other liabilities $13,869

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $941,729
    Loan and leases loss allowance $6,921
    Total loans and leases (domestic) $948,650
    All real estate loans $947,930
    Real estate loans in domestic offices $947,930
    Construction and development loans $6,889
    Residential 1-4 family construction $2,391
    Other construction, all land development and other land $4,498
    Loans secured by nonfarm nonresidential properties $108,077
    Nonfarm nonresidential secured by owner-occupied properties $6,747
    Commercial real estate & other non-farm, non-residential $101,330
    Multifamily residential real estate $482,900
    1-4 family residential loans $350,064
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $580
    To non-U.S. addressees $0
    Loans to individuals $140
    Credit card loans $0
    Related Plans $140
    Consumer Auto Loans $0
    Other loans to individuals $0
    All other loans & leases $0
    Loans to foreign governments and official institutions $0
    Other loans $0
    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 $12,679
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Provident Savings Bank F.S.B. had $941,729,000 of loans outstanding in 2019. $947,930,000 of loans were in real estate loans. $6,889,000 of loans were in development loans. $482,900,000 of loans were in multifamily mortgage loans. $350,064,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $0 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 110 $54,882 $498,927
    Nonfarm, nonresidential loans - $100-250k 8 $1,314 $164,250
    Nonfarm, nonresidential loans - $250k-1MM 102 $53,568 $525,176
    Commercial & Industrial, US addressed loans - <$1MM 6 $579 $96,500
    Commercial & Industrial, US addressed loans - <$100k 2 $92 $46,000
    Commercial & Industrial, US addressed loans - $100-250k 3 $202 $67,333
    Commercial & Industrial, US addressed loans - $250k-1MM 1 $285 $285,000