Progress Bank and Trust

201 Williams Avenue
Huntsville, AL 35801

 

2018 Overview

General Bank Information

FDIC Insured Yes
FDIC Certificate # 58719
Date Established 2008
Assets $1.15 billion
Loans $0.91 billion
Deposits $0.91 billion
Capital $0.14 billion

Progress Bank and Trust is an FDIC insured institution located in Huntsville, AL. It was founded in 2008 and has approximately $1.15 billion in assets. Customers can open an account at one of its 9 branches.

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.

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 20.93
Multifamily
Mortgages
4.75
Credit Card Loans 0.00
Consumer Auto Loans 0.04
Small Business Loans 10.71
Construction and Development Loans 12.81
Commercial Real Estate 33.30
Commercial and Industrial Loans 24.46
Farm Loans 0.00

Deposit Rates - October 17, 2018

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Money Market
0.10% $1 $4,999 Learn MoreShow Less
Money Market
0.15% $10,000 $24,999 Learn MoreShow Less
Money Market
0.15% $25,000 - Learn MoreShow Less
CD Rates APY MIN MAX
3 Mo CD
0.10% $1,000 - Learn MoreShow Less
6 Mo CD
0.20% $1,000 - Learn MoreShow Less

Fixed IRA Rates APY MIN MAX
Fixed IRA
1.25% $1,000 - Learn MoreShow Less
Variable IRA Rates APY MIN MAX
Var IRA
0.30% $100 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.10% $25 $1,999 Learn MoreShow Less
Int Ckg
0.10% $2,000 - Learn MoreShow Less

Loan Rates - October 17, 2018

Your Current Location: Virginia, VA 20146

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 - Virginia 30 Year Fixed Mortgage Rates 2018

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
PenFed Credit Union
NMLS ID: 401822
4.962% 4.875% 0.00 $2,500 $1,324 Learn More
AimLoan.com NMLS#2890
NMLS ID: 2890
License#: MC-3098
4.651% 4.625% -0.13 $872 $1,286 Learn More
Ally Bank
NMLS ID: 181005
4.935% 4.875% 0.25 $1,826 $1,324 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2018

Lender Rate (%) Monthly Payment Learn More
Flagstar Bank 5.490% $283.58 Learn More
Third Federal Savings & Loan Assoc. of Cleveland 4.240% $245.68 Learn More

Note to Progress Bank and Trust
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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:
Ashburn,Virginia


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
1.17% 7.92%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its the bank’s 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 June 30, 2018, Progress Bank and Trust had $529,000 in non-current loans and $1,158,000 in owned real estate. To cover these potential losses it had $137,863,000 in equity and $5,979,000 in loans loss reserves. That gives it a Texas Ratio of 1.17%.

Return on Equity
Progress Bank and Trust U.S. Bank Average
7.29% 9.77%

Progress Bank and Trust has a Return on Equity of 7.29% versus the BestCashCow average of 9.77%. 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
12.02% 12.31%

Progress Bank and Trust has a Capitalization of 12.02% versus the BestCashCow average of 12.31. 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 June 30, 2018, Progress Bank and Trust had assets of $1,147,340,000, loans of $906,900,000, and deposits of $914,930,000. 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

June 30, 2018
ASSETS
Cash & Balances due from depository institutions $0.06 billion
Interest-bearing balances $0.00 billion
Total securities $0.06 billion
Federal funds sold and reverse repurchase $0.05 billion
Net loans and leases $0.91 billion
Loan loss allowance $0.01 billion
Trading account assets $0.00 billion
Bank premises and fixed assets $0.00 billion
Other real estate owned $0.00 billion
Goodwill and other intangibles $0.02 billion
All other assets $0.05 billion
     Total Assets $1.01 billion
LIABILITIES
Total deposits $0.91 billion
      Interest-bearing deposits $0.78 billion
      Deposits held in domestic offices $0.91 billion
      % insured (estimated) 54.38%
Federal funds purchased and repurchase agreements $0.00 billion
Trading liabilities $0.00 billion
Other borrowed funds $0.09 billion
Subordinated debt $0.00 billion
All other liabilities $0.00 billion
      Total Liabilities $1.01 billion
      Shareholders’ Equity $0.14 billion

Summary Income Statement

June 30, 2018
INCOME AND EXPENSES
Total Interest Income $0.02 billion
Total Interest Expense $0.00 billion
Net interest income $0.02 billion
Provision for loan and lease losses $0.00 billion
Total non interest income $0.00 billion
Total non interest expense $0.02 billion
Pre-tax Net Operating Income $0.01 billion

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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