Progressive National Bank Mortgage Rates, Fees & Info

Mansfield, LA

LEI: 549300YWKMUD8J4EF956

Tax ID: 72-0951082

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Mortgage Data

Bank Data

Review & Overview

Progressive National Bank is a smaller bank specializing in Home Purchase and Refi loans. Progressive National Bank has a high proportion of conventional loans. Their top two markets are Shreveport and Natchitoches .

Progressive National Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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Originations

55

Origination Dollar Volume (All Markets)

$5,595,000

Employee count

26

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
SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 52 $5,040,000 $96,923 $0 0.00%
Natchitoches, LA (FHA|USDA|VA) 1 $455,000 $455,000 $0 0.00%
Outside of Metro Areas 2 $100,000 $50,000 $0 0.00%
Progressive National Bank's top markets include Shreveport and Natchitoches among others.

Their top states include:
  • Louisiana (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 55 $5,595,000 $101,727 $0 0.00%

    For 2019, Progressive National Bank's most frequently originated type of loan was Conventional, with 55 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 39 $3,995,000 $102,436 $0 0.00%
    Refi 15 $1,535,000 $102,333 $0 0.00%
    Cash Out Refi 1 $65,000 $65,000 $0 0.00%

    For 2019, Progressive National Bank's most frequently cited loan purpose was Home Purchase, with 39 originations. The 2nd most popular reason was Refi, with 15 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 55 $5,595,000 $101,727 $0 0.00%

    For 2019, Progressive National Bank's most frequently cited loan duration was Other, with 55 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 36 $1,830,000 $50,833 $0 0.00%
    $100k-200k 14 $1,990,000 $142,143 $0 0.00%
    $400k-600k 3 $1,315,000 $438,333 $0 0.00%
    $200k-400k 2 $460,000 $230,000 $0 0.00%

    2019 saw Progressive National Bank place emphasis on $100,000 or less loans with 36 originations, totaling $1,830,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 11 $475,000 $43,182 $0 0.00%
    $50k-75k 8 $680,000 $85,000 $0 0.00%
    $75k-100k 7 $645,000 $92,143 $0 0.00%
    $150k-250k 4 $490,000 $122,500 $0 0.00%
    $250k+ 2 $560,000 $280,000 $0 0.00%
    $100k-150k 1 $65,000 $65,000 $0 0.00%

    Progressive National Bank lent most frequently to those with incomes in the $50k or less range, with 11 originations. The second most popular income band? $50k-75k, with 8 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 55 $5,595,000 $101,727 $0 0.00%

    Progressive National Bank lent most frequently to those with DTI ratios of Exempt%, with 55 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 22 $2,680,000 $121,818 $0 0.00%
    White 28 $2,190,000 $78,214 $0 0.00%
    Not provided 1 $455,000 $455,000 $0 0.00%
    Black 4 $270,000 $67,500 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.59%

    Progressive National Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    81.82%

    Progressive National Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 55 $5,595,000 $101,727

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $455,000 $455,000
    Single Family (1-4 Units):Manufactured 19 $1,255,000 $66,053
    Single Family (1-4 Units):Site-Built 35 $3,885,000 $111,000

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Progressive National Bank 105 Hwy 5 Logansport, LA 71049 Full Service B&M $7,118
    Progressive National Bank 300 Washington Street Mansfield, LA 71052 Full Service B&M $41,150
    Progressive National Bank 3000 Bert Kouns-Industrial Loop Shreveport, LA 71118 Full Service B&M $3,531
    Progressive National Bank 5258 Highway 3276 Stonewall, LA 71078 Full Service B&M $3,723
    Progressive National Bank 8386 Hwy 171 Grand Cane, LA 71032 Full Service B&M $9,816

    For 2019, Progressive National Bank had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $2,941
    Net interest income $2,560
    Total noninterest income $1,107
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $250
    Trading account gains and fees $0
    Additional Noninterest Income $857
    Pre-tax net operating income $925
    Securities gains (or losses, -) $-1
    Income before extraordinary items $924
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $924
    Minority interest net income $0
    Net income $924
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $925

    Progressive National Bank's gross interest income from loans was $2,941,000.
    Progressive National Bank's net interest income from loans was $2,560,000.
    Progressive National Bank's fee based income from loans was $250,000.
    Progressive National Bank's net income from loans was $924,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $381
    Provision for credit losses $50
    Total noninterest expense $2,692
    Salaries and employee benefits $1,312
    Premises and equipment expense $298
    Additional noninterest expense $1,082
    Applicable income taxes $0
    Net charge-offs $15
    Cash dividends $45

    Progressive National Bank's interest expense for loans was $381,000.
    Progressive National Bank's payroll and benefits expense were $1,312,000.
    Progressive National Bank's property, plant and equipment expenses $298,000.

    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 1.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $68,667
    Deposits held in domestic offices $68,667
    Deposits by Individuals, partnerships, and corporations $59,079
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $9,589
    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 $25,337
    Demand deposits $22,791
    Nontransaction accounts $43,331
    Money market deposit accounts (MMDAs) $12,646
    Other savings deposits (excluding MMDAs) $12,496
    Total time deposits $18,188
    Total time and savings deposits $45,877
    Noninterest-bearing deposits $22,791
    Interest-bearing deposits $45,876
    Retail deposits $65,980
    IRAs and Keogh plan accounts $1,417
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $74,975
    Cash & Balances due from depository institutions $16,350
    Interest-bearing balances $14,432
    Total securities $13,415
    Federal funds sold & reverse repurchase $200
    Net loans and leases $40,196
    Loan and leases loss allowance $286
    Trading account assets $0
    Bank premises and fixed assets $4,038
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $776

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $74,975
    Total Liabilities $68,827
    Total deposits $68,667
    Interest-bearing deposits $45,876
    Deposits held in domestic offices $68,667
    % insured (estimated) $81
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $160

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $40,196
    Loan and leases loss allowance $286
    Total loans and leases (domestic) $40,482
    All real estate loans $34,889
    Real estate loans in domestic offices $34,889
    Construction and development loans $4,667
    Residential 1-4 family construction $3,173
    Other construction, all land development and other land $1,494
    Loans secured by nonfarm nonresidential properties $5,716
    Nonfarm nonresidential secured by owner-occupied properties $2,423
    Commercial real estate & other non-farm, non-residential $3,293
    Multifamily residential real estate $2,381
    1-4 family residential loans $17,684
    Farmland loans $4,441
    Loans held in foreign offices $0
    Farm loans $15
    Commercial and industrial loans $3,357
    To non-U.S. addressees $0
    Loans to individuals $2,188
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $832
    Other loans to individuals $1,356
    All other loans & leases $33
    Loans to foreign governments and official institutions $0
    Other loans $33
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Progressive National Bank had $40,196,000 of loans outstanding in 2019. $34,889,000 of loans were in real estate loans. $4,667,000 of loans were in development loans. $2,381,000 of loans were in multifamily mortgage loans. $17,684,000 of loans were in 1-4 family mortgage loans. $15,000 of loans were in farm loans. $0 of loans were in credit card loans. $832,000 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 32 $5,716 $178,625
    Nonfarm, nonresidential loans - <$100k 8 $227 $28,375
    Nonfarm, nonresidential loans - $100-250k 11 $1,297 $117,909
    Nonfarm, nonresidential loans - $250k-1MM 13 $4,192 $322,462
    Commercial & Industrial, US addressed loans - <$1MM 32 $3,357 $104,906
    Commercial & Industrial, US addressed loans - <$100k 21 $397 $18,905
    Commercial & Industrial, US addressed loans - $100-250k 9 $1,505 $167,222
    Commercial & Industrial, US addressed loans - $250k-1MM 2 $1,455 $727,500
    Farmland loans - <$1MM 15 $1,785 $119,000
    Farmland loans - <$100k 9 $278 $30,889
    Farmland loans - $100-250k 2 $285 $142,500
    Farmland loans - $250k-1MM 4 $1,222 $305,500
    Agriculture operations loans - <$1MM 2 $15 $7,500
    Agriculture operations loans - <$100k 2 $15 $7,500