Providence Bank
Our records indicate that this bank has been acquired by First Mid Bank & Trust, National Association.
Headquarters
3855 Forum Boulevard
Columbia, MO 65203
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2024 Overview
General Bank Information
Providence Bank is an FDIC insured institution located in Columbia, MO. It was founded in 1888 and has approximately $1.04 billion in assets.
| FDIC Insured | Yes |
| FDIC Certificate | # 1643 |
| Date Established | 1888 |
| Assets | $ 1,114.15 million |
| Loans | $ 804.23 million |
| Deposits | $ 870.29 million |
| Capital | $ 138.44 million |
For a more detailed analysis of Providence Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.
Deposit Rates - April 24, 2024
Your Current Location: Ohio, OH 43085
Loan Rates - April 24, 2024
Your Current Location: Ohio, OH 43085
There are currently no loan rates available for Providence Bank
Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:
Featured - Ohio 30 Year Fixed Mortgage Rates 2024
| Lender | APR | Rate (%) | Monthly Payment |
Learn More |
|---|---|---|---|---|
NMLS ID: 401822 |
6.806% |
6.625% 0.88 points $6,000 fees |
$2,049 | Learn More |
NMLS ID: 2059741 |
6.905% |
6.750% 1.00 points $5,094 fees |
$2,076 | Learn More |
NMLS ID: 3030 |
7.451% |
7.375% 0.75 points $2,400 fees |
$2,211 | Learn More |
NMLS ID: Not a Lender |
points fees |
Learn More |
Featured - Ohio Home Equity Line Of Credit Rates 2024
| Lender | APR (%)? | Monthly Payment? | Learn More |
|---|---|---|---|
Third Federal Savings and Loan See Table |
7.490 %
|
$0 |
Learn More
More Info |
Note to Providence Bank
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Branches
Providence Bank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.
Your Location:
Columbus,Ohio
Climate Policy and Initiatives
Providence Bank is encouraged to provide us with this information. When we receive this information from the bank, we will provide it here.
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Financial Details
Providence Bank Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of Providence Bank. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.
Texas Ratio
| Providence Bank | U.S. Bank Average |
|---|---|
| 9.61% | 3.96% |
The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.
As of December 31, 2024, Providence Bank had $3,665,000 in non-current loans and $10,891,000 in owned real estate. To cover these potential losses it had $138,442,000 in equity and $12,992,000 in loans loss reserves. That gives it a Texas Ratio of 9.61%.
Return on Equity
| Providence Bank | U.S. Bank Average |
|---|---|
| 6.06% | 12.20% |
Providence Bank has a Return on Equity of 6.06% versus the BestCashCow average of 12.20%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.
Capitalization
| Providence Bank | U.S. Bank Average |
|---|---|
| 12.43% | 10.76% |
Providence Bank has a Capitalization of 12.43% versus the BestCashCow average of 10.76. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.
Providence Bank Balance Sheet Analysis
As of March 31, 2021, Providence Bank had assets of $1,043,348,000, loans of $804,229,000, and deposits of $870,293,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.
Summary Balance Sheet
December 31, 2024| ASSETS | |
|---|---|
| Cash & Balances due from depository institutions | $ 29.08 million |
| Interest-bearing balances | $ 23.57 million |
| Total securities | $ 112.99 million |
| Federal funds sold and reverse repurchase | N.A. |
| Net loans and leases | $ 804.23 million |
| Loan loss allowance | $ 12.99 million |
| Trading account assets | N.A. |
| Bank premises and fixed assets | N.A. |
| Other real estate owned | $ 10.89 million |
| Goodwill and other intangibles | $ 11.07 million |
| All other assets | $ 45.99 million |
| Total Assets | $ 904.91 million |
| LIABILITIES | |
|---|---|
| Total deposits | $ 870.29 million |
| Interest-bearing deposits | $ 707.08 million |
| Deposits held in domestic offices | $ 870.29 million |
| % insured (estimated) | 78.89% |
| Federal funds purchased and repurchase agreements | N.A. |
| Trading liabilities | N.A. |
| Other borrowed funds | $ 27.88 million |
| Subordinated debt | N.A. |
| All other liabilities | $ 6.74 million |
| Total Liabilities | $ 904.91 million |
| Shareholders’ Equity | $ 209.25 million |
Summary Income Statement
December 31, 2024| INCOME AND EXPENSES | |
|---|---|
| Total Interest Income | $ 4.47 million |
| Total Interest Expense | $ 0.25 million |
| Net interest income | $ 4.22 million |
| Provision for loan and lease losses | $ 11.24 million |
| Total non interest income | $ 0.68 million |
| Total non interest expense | $ 4.62 million |
| Pre-tax Net Operating Income | N.A. |
Bank Loan Profile?
The top three loan types in Providence Bank’s loan portfolio are Commercial and Industrial Loans, Commercial Real Estate, and 1-4 Family Residential Loans.
Compared to other banks in Missouri, Providence Bank has a significantly higher percent of Multifamily Mortgages, Commercial and Industrial Loans on its balance sheet, potentially indicating a specialty in that lending area.
Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.
| % Loans |
% Comparison to Other Banks |
|||
|---|---|---|---|---|
| Low | Med | High | ||
| 1-4 Family Residential Loans | 11.46 | ✓ | ||
| Multifamily Mortgages |
10.34 | ✓ | ||
| Credit Card Loans | 0.00 | ✓ | ||
| Consumer Auto Loans | 0.18 | ✓ | ||
| Small Business Loans | 0.00 | ✓ | ||
| Construction and Development Loans | 8.64 | ✓ | ||
| Commercial Real Estate | 27.83 | ✓ | ||
| Commercial and Industrial Loans | 34.77 | ✓ | ||
| Farm Loans | 0.05 | ✓ | ||
Customer Reviews for Providence Bank
KH
December 4, 2020 |
I really wish I could leave a better review. I honestly wish my experience was completely different.
But I have to admit that I would not recommend Providence Bank or their lender, Laura Kogut, to anyone.
Here's my experience:
My husband and I put our house on the market and quickly got an offer from her client, which we accepted. How exciting, right?!!
We were told that we could not close on the house for over 60 days because they had to verify funding. That's a long time to wait! But we decided since they were pre-qualified we would proceed anyway.
9 days before closing they withdrew the offer. ????
Come to find out the bank and the lender failed to review the file for 50+ days. They realized their client couldn't afford the house and they could only approve them for $80,000 LESS than the original offer.
We waited for so long ????
It's 3 weeks before Christmas and all I can think is I just wish we would've had more heads up.
It shouldn't have taken 9 weeks to this figure out.
Unfortunately this has put my family in a financial bind. It may have even put their client in a bind, too.
I just want to do my due diligence of sharing my story and give anyone fair warning about partnering with Providence Bank.
It seems like not much care is put in being transparent with clients and may possibly put you in a hard position just like us.
Is this review helpful? Yes:0 / No: 0
FS
July 21, 2017 |
DO NOT USE THIS BANK. I took out a CD and got the contract, but Providence reneged on the contract and did not compensate me for their early retirement as they would charge me if I were to withdraw.
Is this review helpful? Yes:0 / No: 1
RS
July 5, 2017
This bank does not honor Lineal Decent and they tried to back out of their contract. They charge a $50 fee and 6 month penalty if you try to back out.
Is this review helpful? Yes:0 / No: 1
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