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™
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    • 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 Refi and Home Purchase loans. Provident Savings Bank F.s.b. has a high proportion of conventional loans. Their top markets by origination volume include: Riverside, Los Angeles, San Francisco, San Jose, and Stockton among others. We have data for 16 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% 4/18/24
    30 Year Conventional Refi 6.11% 4/18/24
    30 Year Cash-out Refi 6.15% 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.

    Provident Savings Bank F.s.b. Mortgage Calculator






    Your Estimates

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    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

    329

    Origination Dollar Volume (All Markets)

    $267,895,000

    Employee count

    170 Show all (6) 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
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 110 $72,950,000 $663,182 $8,202 2.99%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 70 $65,430,000 $934,714 $6,837 3.39%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 48 $45,110,000 $939,792 $4,407 3.04%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 33 $34,575,000 $1,047,727 $4,278 2.81%
    STOCKTON, CA (FHA|USDA|VA) 22 $15,000,000 $681,818 $3,765 2.70%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 12 $8,940,000 $745,000 $5,478 3.18%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 9 $8,155,000 $906,111 $7,142 3.30%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 6 $4,690,000 $781,667 $5,817 2.93%
    VALLEJO, CA (FHA|USDA|VA) 4 $3,750,000 $937,500 $0 3.54%
    SALINAS, CA (FHA|USDA|VA) 3 $1,975,000 $658,333 $0 3.68%
    NAPA, CA (FHA|USDA|VA) 2 $1,800,000 $900,000 $9,561 3.21%
    FRESNO, CA (FHA|USDA|VA) 4 $1,670,000 $417,500 $0 3.99%
    SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 2 $1,630,000 $815,000 $4,469 3.34%
    SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 2 $970,000 $485,000 $0 3.83%
    SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 1 $925,000 $925,000 $0 3.40%
    BAKERSFIELD, CA (FHA|USDA|VA) 1 $325,000 $325,000 $0 4.05%
    Provident Savings Bank F.s.b.'s top markets include Riverside, Los Angeles, San Francisco, San Jose, and Stockton 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.

    Christian Community Credit Union
    Similarity Rank: 354
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    HERITAGE COMMUNITY CREDIT UNION
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 329 $267,895,000 $814,271 $6,297 3.10%

    For 2021, Provident Savings Bank F.s.b.'s most frequently originated type of loan was Conventional, with 329 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 180 $146,780,000 $815,444 $5,420 3.06%
    Home Purchase 96 $83,920,000 $874,167 $8,303 3.18%
    Cash Out Refi 53 $37,195,000 $701,792 $6,339 3.06%

    For 2021, Provident Savings Bank F.s.b.'s most frequently cited loan purpose was Refi, with 180 originations. The 2nd most popular reason was Home Purchase, with 96 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 317 $256,845,000 $810,237 $6,260 3.08%
    Other 8 $7,660,000 $957,500 $0 3.85%
    15 Year 3 $1,815,000 $605,000 $8,774 2.67%
    30+ year 1 $1,575,000 $1,575,000 $0 3.55%

    For 2021, Provident Savings Bank F.s.b.'s most frequently cited loan duration was 30 Year, with 317 originations. The 2nd most popular length was Other, with 8 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 95 $80,945,000 $852,053
    $5k+ 45 $35,785,000 $795,222
    $1k-2k 25 $17,385,000 $695,400
    $2k-3k 14 $9,300,000 $664,286
    $3k-4k 13 $9,695,000 $745,769
    $4k-5k 12 $7,400,000 $616,667

    Provident Savings Bank F.s.b.'s average total fees were $6,260, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 95 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 147 $120,775,000 $821,599
    3-4% 126 $107,880,000 $856,190
    <2.5% 43 $31,605,000 $735,000
    4-5% 10 $7,140,000 $714,000
    5-6% 3 $495,000 $165,000

    During 2021, Provident Savings Bank F.s.b.'s average interest rate for loans was 3.08%, while their most frequently originated rate bucket for loans was 2.5-3%, with 147 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $600k-1MM 187 $146,695,000 $784,465 $5,987 2.99%
    $1MM+ 69 $89,735,000 $1,300,507 $7,851 3.12%
    $400k-600k 46 $24,510,000 $532,826 $6,008 3.31%
    $200k-400k 19 $5,795,000 $305,000 $6,037 3.45%
    $100k-200k 7 $1,095,000 $156,429 $5,185 3.39%
    $100,000 or less 1 $65,000 $65,000 $4,134 2.63%

    2021 saw Provident Savings Bank F.s.b. place emphasis on $600k-1MM loans with 187 originations, totaling $146,695,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 99 $79,935,000 $807,424 $5,899 2.73%
    $250k+ 73 $65,395,000 $895,822 $7,183 2.82%
    $100k-150k 22 $12,840,000 $583,636 $5,231 2.70%
    $50k-75k 4 $860,000 $215,000 $6,872 2.59%
    $50k or less 3 $465,000 $155,000 $3,744 2.88%
    $75k-100k 3 $1,015,000 $338,333 $7,441 2.67%

    Provident Savings Bank F.s.b. lent most frequently to those with incomes in the $150k-250k range, with 99 originations. The second most popular income band? $250k+, with 73 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 56 $42,860,000 $765,357 $7,067 2.77%
    20-30% 37 $27,125,000 $733,108 $5,682 2.71%
    41% 20 $17,880,000 $894,000 $6,620 2.80%
    40% 18 $14,630,000 $812,778 $8,473 2.72%
    42% 18 $14,900,000 $827,778 $7,216 2.83%
    37% 18 $13,650,000 $758,333 $3,916 2.67%
    39% 12 $9,920,000 $826,667 $5,659 2.70%
    38% 10 $8,960,000 $896,000 $6,353 2.60%
    <20% 9 $5,325,000 $591,667 $4,696 3.17%
    36% 5 $4,255,000 $851,000 $3,320 2.78%
    50-60% 1 $1,005,000 $1,005,000 $2,947 2.38%

    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? 20-30%, with 37 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 115 $86,785,000 $754,652 $7,743 2.97%
    Asian 85 $78,225,000 $920,294 $4,217 2.78%
    Not applicable 90 $74,130,000 $823,667 $0 3.64%
    Not provided 32 $23,370,000 $730,313 $6,971 2.81%
    Chinese 1 $2,005,000 $2,005,000 $0 3.50%
    Black 3 $1,885,000 $628,333 $7,566 3.09%
    American Indian 2 $800,000 $400,000 $6,599 4.25%
    Asian Indian 1 $695,000 $695,000 $2,984 2.63%

    Approval Rates

    Total approvals of all applications
    81.89%

    Provident Savings Bank F.s.b. has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    86.02%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 329 $267,895,000 $814,271

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    329 $267,895,000 $814,271

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 38 $27,070,000 $712,368 $7,058 3.33%
    40-60% 110 $95,660,000 $869,636 $5,992 3.17%
    60-80% 154 $127,370,000 $827,078 $6,198 2.96%
    80-100% 19 $14,115,000 $742,895 $7,648 2.91%
    Over 100% 1 $1,545,000 $1,545,000 $0 3.55%
    Under 20% 7 $2,135,000 $305,000 $3,282 4.28%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    PROVIDENT FUNDING ASSOCIATES Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 6 46.2%
    PROVIDENT FUNDING ASSOCIATES Conventional home mortgage Closing on a mortgage 1 7.7%
    PROVIDENT FUNDING ASSOCIATES Conventional home mortgage Trouble during payment process 6 46.2%

    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 $83,064
    Provident Savings Bank, F.S.B. 125 East Citrus Avenue Redlands, CA 92373 Full Service B&M $108,371
    Provident Savings Bank, F.S.B. 1690 E Florida Ave Hemet, CA 92544 Full Service B&M $84,619
    Provident Savings Bank, F.S.B. 19348 Van Buren Blvd, Ste.119 Riverside, CA 92508 Full Service B&M $46,533
    Provident Savings Bank, F.S.B. 27010 Sun City Boulevard Sun City, CA 92586 Full Service B&M $84,748
    Provident Savings Bank, F.S.B. 3312 La Sierra Ave Ste 105 Riverside, CA 92503 Full Service B&M $24,581
    Provident Savings Bank, F.S.B. 350 East Hobson Way Blythe, CA 92225 Full Service B&M $70,610
    Provident Savings Bank, F.S.B. 4001 Main Street Riverside, CA 92501 Full Service B&M $40,155
    Provident Savings Bank, F.S.B. 40705 Winchester Road, Suite 6 Temecula, CA 92591 Full Service B&M $27,043
    Provident Savings Bank, F.S.B. 487 Magnolia Avenue, Suite 101 Corona, CA 92879 Full Service B&M $31,171
    Provident Savings Bank, F.S.B. 5225 Canyon Crest Dr, Suite 86 Riverside, CA 92507 Full Service B&M $72,417
    Provident Savings Bank, F.S.B. 6570 Magnolia Ave Riverside, CA 92506 Full Service B&M $224,174
    Provident Savings Bank, F.S.B. 6570 Magnolia Avenue Riverside, CA 92506 Limited, Administrative $0
    Provident Savings Bank, F.S.B. 71-991 Highway 111 Rancho Mirage, CA 92270 Full Service B&M $50,757

    For 2021, Provident Savings Bank F.s.b. had 14 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $35,206
    Net interest income $31,559
    Total noninterest income $4,293
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,169
    Trading account gains and fees $0
    Additional Noninterest Income $3,124
    Pre-tax net operating income $14,384
    Securities gains (or losses, -) $0
    Income before extraordinary items $10,639
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $10,639
    Minority interest net income $0
    Net income $10,639
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $10,639

    Provident Savings Bank F.s.b.'s gross interest income from loans was $35,206,000.
    Provident Savings Bank F.s.b.'s net interest income from loans was $31,559,000.
    Provident Savings Bank F.s.b.'s fee based income from loans was $1,169,000.
    Provident Savings Bank F.s.b.'s net income from loans was $10,639,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,647
    Provision for credit losses $-2,373
    Total noninterest expense $23,841
    Salaries and employee benefits $13,649
    Premises and equipment expense $4,053
    Additional noninterest expense $6,139
    Applicable income taxes $3,745
    Net charge-offs $-443
    Cash dividends $7,500

    Provident Savings Bank F.s.b.'s interest expense for loans was $3,647,000.
    Provident Savings Bank F.s.b.'s payroll and benefits expense were $13,649,000.
    Provident Savings Bank F.s.b.'s property, plant and equipment expenses $4,053,000.

    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 $969,754
    Deposits held in domestic offices $969,754
    Deposits by Individuals, partnerships, and corporations $961,139
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $8,615
    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 $114,323
    Demand deposits $103,765
    Nontransaction accounts $855,431
    Money market deposit accounts (MMDAs) $377,360
    Other savings deposits (excluding MMDAs) $346,388
    Total time deposits $131,683
    Total time and savings deposits $865,989
    Noninterest-bearing deposits $117,767
    Interest-bearing deposits $851,987
    Retail deposits $948,518
    IRAs and Keogh plan accounts $30,577
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,182,400
    Cash & Balances due from depository institutions $86,281
    Interest-bearing balances $81,862
    Total securities $207,583
    Federal funds sold & reverse repurchase $0
    Net loans and leases $852,006
    Loan and leases loss allowance $6,608
    Trading account assets $0
    Bank premises and fixed assets $8,880
    Other real estate owned $0
    Goodwill and other intangibles $140
    All other assets $27,510

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,182,400
    Total Liabilities $1,062,402
    Total deposits $969,754
    Interest-bearing deposits $851,987
    Deposits held in domestic offices $969,754
    % insured (estimated) $72
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $80,000
    Subordinated debt $0
    All other liabilities $12,648

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $852,006
    Loan and leases loss allowance $6,608
    Total loans and leases (domestic) $858,614
    All real estate loans $858,172
    Real estate loans in domestic offices $858,172
    Construction and development loans $3,629
    Residential 1-4 family construction $1,768
    Other construction, all land development and other land $1,861
    Loans secured by nonfarm nonresidential properties $91,546
    Nonfarm nonresidential secured by owner-occupied properties $5,539
    Commercial real estate & other non-farm, non-residential $86,007
    Multifamily residential real estate $469,656
    1-4 family residential loans $293,341
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $364
    To non-U.S. addressees $0
    Loans to individuals $78
    Credit card loans $0
    Related Plans $78
    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 $9,962
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Provident Savings Bank F.S.B. had $852,006,000 of loans outstanding in 2021. $858,172,000 of loans were in real estate loans. $3,629,000 of loans were in development loans. $469,656,000 of loans were in multifamily mortgage loans. $293,341,000 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 92 $44,359 $482,163
    Nonfarm, nonresidential loans - $100-250k 5 $797 $159,400
    Nonfarm, nonresidential loans - $250k-1MM 87 $43,562 $500,713
    Commercial & Industrial, US addressed loans - <$1MM 4 $364 $91,000
    Commercial & Industrial, US addressed loans - <$100k 2 $73 $36,500
    Commercial & Industrial, US addressed loans - $100-250k 1 $19 $19,000
    Commercial & Industrial, US addressed loans - $250k-1MM 1 $272 $272,000