Progress Bank and Trust

Headquarters

201 Williams Avenue
Huntsville, AL 35801
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.05% 0.65% →
1-Year CD 0.50% 0.70% →
2-Year CD 0.60% 0.75% →
5-Year CD 0.65% 1.15% →
30-Year Mortgage N.A. 2.72% →
15-Year Mortgage N.A. 2.36% →
HELOC N.A. 2.79% →

2021 Overview

General Bank Information

Progress Bank and Trust is an FDIC insured institution located in Huntsville, AL. It was founded in 2008 and has approximately $1.58 billion in assets. Customers can open an account at one of its 9 branches.

FDIC Insured Yes
FDIC Certificate # 58719
Date Established 2008
Assets $ 1,579.24 million
Loans $ 1,218.74 million
Deposits $ 1,398.20 million
Capital $ 165.85 million
 

For a more detailed analysis of Progress Bank and Trust's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - June 22, 2021

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
0.05% $1,000 $4,999 Learn More
Money Market
0.05% $1 $4,999 Learn More
Money Market
0.05% $10,000 $24,999 Learn More
Money Market
0.10% $25,000 - Learn More
CD Rates APY MIN MAX
6 Mo CD
0.50% $1,000 - Learn More
12 Mo CD
0.50% $1,000 - Learn More
18 Mo CD
0.50% $1,000 - Learn More
24 Mo CD
0.60% $1,000 - Learn More
30 Mo CD
0.60% $1,000 - Learn More
36 Mo CD
0.60% $1,000 - Learn More
Special: 36 Mo CD
0.60% $5,000 - Learn More
48 Mo CD
0.65% $1,000 - Learn More
60 Mo CD
0.65% $1,000 - Learn More

Int Checking Rates APY MIN MAX
Int Ckg
0.05% $2,000 - Learn MoreShow Less
 

Loan Rates - June 22, 2021

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Progress Bank and Trust

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:




Featured - Connecticut 30 Year Fixed Mortgage Rates 2021

Lender APR Rate (%) Monthly
Payment
Learn More
Quicken Loans NMLS #3030
NMLS ID: 3030
3.610% 3.500%
0.88 points
$3,438 fees
$1,123 Learn More
Morty, Inc.
NMLS ID: 1429243
2.680% 2.625%
0.38 points
$1,805 fees
$1,005 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2021

Lender APR (%)? Monthly Payment? Learn More
Bethpage Federal Credit Union
Bethpage Federal Credit Union
See Table
Intro APR 2.990 %
After Intro: 3.750 %
Intro Period: 12 months
$25,000 Learn More
More Info
BMO Harris Bank
BMO Harris Bank
See Table
Intro APR 1.990 %
After Intro: 4.840 %
Intro Period: 12 months
$0 Learn More
More Info
Third Federal Savings and Loan
Third Federal Savings and Loan
See Table
2.240 %
$0 Learn More
More Info

Note to Progress Bank and Trust
To upload and update your bank's rates please register. It is free to register and add rates.

Branches

Progress Bank and Trust 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:
Fairfield,Connecticut


Progress Bank and Trust Locations


Financial Details

Progress Bank and Trust Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Progress Bank and Trust. 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
Progress Bank and Trust U.S. Bank Average
0.42% 5.49%

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, 2020, Progress Bank and Trust had $750,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $165,851,000 in equity and $12,022,000 in loans loss reserves. That gives it a Texas Ratio of 0.42%.

Return on Equity
Progress Bank and Trust U.S. Bank Average
11.18% 9.24%

Progress Bank and Trust has a Return on Equity of 11.18% versus the BestCashCow average of 9.24%. 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
Progress Bank and Trust U.S. Bank Average
10.5% 11.96%

Progress Bank and Trust has a Capitalization of 10.5% versus the BestCashCow average of 11.96. 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.

Progress Bank and Trust Balance Sheet Analysis

As of December 31, 2020, Progress Bank and Trust had assets of $1,579,238,000, loans of $1,218,739,000, and deposits of $1,398,197,000. 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, 2020
ASSETS
Cash & Balances due from depository institutions $ 12.68 million
Interest-bearing balances $ 0.33 million
Total securities $ 55.67 million
Federal funds sold and reverse repurchase $ 210.15 million
Net loans and leases $ 1,218.74 million
Loan loss allowance $ 12.02 million
Trading account assets $ 2.80 million
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 18.80 million
All other assets $ 46.57 million
     Total Assets $ 1,413.39 million
LIABILITIES
Total deposits $ 1,398.20 million
      Interest-bearing deposits $ 1,098.96 million
      Deposits held in domestic offices $ 1,398.20 million
      % insured (estimated) 51.07%
Federal funds purchased and repurchase agreements $ 9.23 million
Trading liabilities $ 2.80 million
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 3.16 million
      Total Liabilities $ 1,413.39 million
      Shareholders’ Equity $ 165.85 million

Summary Income Statement

December 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 58.10 million
Total Interest Expense $ 10.09 million
Net interest income $ 48.01 million
Provision for loan and lease losses $ 4.02 million
Total non interest income $ 17.65 million
Total non interest expense $ 39.31 million
Pre-tax Net Operating Income $ 22.34 million

Bank Loan Profile?

The top three loan types in Progress Bank and Trust’s loan portfolio are Commercial Real Estate, Commercial and Industrial Loans, and 1-4 Family Residential Loans.

Compared to other banks, Progress Bank and Trust’s loan portfolio does not show any specific loan specialty.

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 23.51
Multifamily
Mortgages
1.94
Credit Card Loans 0.00
Consumer Auto Loans 0.09
Small Business Loans 9.10
Construction and Development Loans 11.43
Commercial Real Estate 34.34
Commercial and Industrial Loans 26.67
Farm Loans 0.03

Frequently Asked Questions About Progress Bank And Trust

Branches and Savings

Is Progress Bank And Trust FDIC insured?

Yes. It is covered under FDIC Certificate #58719.

Why does Progress Bank And Trust pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Progress Bank And Trust CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Progress Bank And Trust a commercial bank?

Yes

Where are Progress Bank And Trust locations?

See branch locations nearby.

Is Progress Bank And Trust open on Saturdays?

Is Progress Bank And Trust open on Sundays?

What time does Progress Bank And Trust open?

What time does Progress Bank And Trust close?

Are Progress Bank And Trust ATMs Open 24/7?

Do Progress Bank And Trust ATMs accept cash deposits?

Can Progress Bank And Trust customers use other ATMs?

Do Progress Bank And Trust branches have notaries?

Will Progress Bank And Trust notarize my document?

What address for Progress Bank And Trust should I put for incoming ACH transfers?

Will the Progress Bank And Trust branch print checks?

Do Progress Bank And Trust checks expire?

Does Progress Bank And Trust require US citizenship to open account?

Can Progress Bank And Trust close my account?

Does Progress Bank And Trust Report to credit bureaus?

Does Progress Bank And Trust Use Equifax?

What is Progress Bank And Trust's ACH Routing Number?

What is Progress Bank And Trust's SWIFT code?

Products

Does Progress Bank And Trust offer mortgages?

Compare mortgage rates here.

Does Progress Bank And Trust offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Progress Bank And Trust offer personal loans?

Compare personal loan rates here.

Does Progress Bank And Trust offer student loans?

Will Progress Bank And Trust cash a check?

Will Progress Bank And Trust redeem a savings bond?

Does Progress Bank And Trust cash savings bonds?

Will Progress Bank And Trust cash money orders?

Can Progress Bank And Trust issue a money order?

Does Progress Bank And Trust do currency exchange?

Background on The Bank

Who owns Progress Bank And Trust?

How long has Progress Bank And Trust been around?

Can Progress Bank And Trust transfer to other banks?

Does Progress Bank And Trust have quick pay?

Does Progress Bank And Trust accept rolled coins?

Will Progress Bank And Trust accept loose change?

Where is Progress Bank And Trust headquarters?

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