Progress Bank and Trust


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

Notable Rates APY Vs.Others
Savings 0.05% 1.02% →
1-Year CD 0.50% 1.45% →
2-Year CD 0.60% 2.86% →
5-Year CD 0.65% 3.21% →
30-Year Mortgage N.A. 2.81% →
15-Year Mortgage N.A. 2.36% →
HELOC N.A. 2.79% →

2022 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 $1.78 billion in assets. Customers can open an account at one of its 9 branches.

FDIC Insured Yes
FDIC Certificate # 58719
Date Established 2008
Assets $ 1,779.57 million
Loans $ 1,235.57 million
Deposits $ 1,585.85 million
Capital $ 178.66 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 - May 21, 2022

Your Current Location: Virginia, VA 20146

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
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
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 - May 21, 2022

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 2022

Lender APR Rate (%) Monthly
Learn More
Rocket Mortgage
NMLS ID: 3030
5.990% 5.875%
0.75 points
$3,125 fees
$1,479 Learn More
Quicken Loans NMLS #3030
NMLS ID: 3030
6.013% 5.875%
1.00 points
$3,750 fees
$1,479 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2022

Lender APR (%)? Monthly Payment? Learn More

Note to Progress Bank and Trust
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Climate Initiatives

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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 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
0.28% 3.95%

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, 2021, Progress Bank and Trust had $431,000 in non-current loans and $113,000 in owned real estate. To cover these potential losses it had $178,658,000 in equity and $13,061,000 in loans loss reserves. That gives it a Texas Ratio of 0.28%.

Return on Equity
Progress Bank and Trust U.S. Bank Average
12.37% 10.50%

Progress Bank and Trust has a Return on Equity of 12.37% versus the BestCashCow average of 10.50%. 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.

Progress Bank and Trust U.S. Bank Average
10.04% 11.55%

Progress Bank and Trust has a Capitalization of 10.04% versus the BestCashCow average of 11.55. 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, 2021, Progress Bank and Trust had assets of $1,779,568,000, loans of $1,235,574,000, and deposits of $1,585,849,000. 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, 2021
Cash & Balances due from depository institutions $ 81.54 million
Interest-bearing balances $ 29.61 million
Total securities $ 96.67 million
Federal funds sold and reverse repurchase $ 274.23 million
Net loans and leases $ 1,235.57 million
Loan loss allowance $ 13.06 million
Trading account assets $ 0.57 million
Bank premises and fixed assets N.A.
Other real estate owned $ 0.11 million
Goodwill and other intangibles $ 18.59 million
All other assets $ 56.29 million
     Total Assets $ 1,600.91 million
Total deposits $ 1,585.85 million
      Interest-bearing deposits $ 1,161.92 million
      Deposits held in domestic offices $ 1,585.85 million
      % insured (estimated) 51.57%
Federal funds purchased and repurchase agreements $ 12.95 million
Trading liabilities $ 0.57 million
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 1.54 million
      Total Liabilities $ 1,600.91 million
      Shareholders’ Equity $ 178.66 million

Summary Income Statement

December 31, 2021
Total Interest Income $ 59.66 million
Total Interest Expense $ 6.29 million
Net interest income $ 53.38 million
Provision for loan and lease losses $ 0.93 million
Total non interest income $ 20.76 million
Total non interest expense $ 47.03 million
Pre-tax Net Operating Income $ 26.18 million

Bank Loan Profile?

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

Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 23.49
Credit Card Loans 0.00
Consumer Auto Loans 0.06
Small Business Loans 10.24
Construction and Development Loans 13.91
Commercial Real Estate 38.53
Commercial and Industrial Loans 20.08
Farm Loans 0.02

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