Applications / Mortgage Analytics / Lenders / North Carolina / Providence Bank
Rocky Mount, NC · State non-member bank · FDIC · $1.4 billion assets · 85 loans in 2025
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85
loans originated, 2025
97
applications, 2025
1
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Providence Bank, a Rocky Mount bank, made nearly half as many loans again in 2025 and lends far more in majority-minority neighborhoods than similar banks do.
Loans rose 49% to 85, while similar banks (state non-member banks making between half and twice as many loans) grew 9% and the whole market 10%. That is faster than nearly nine in ten of them. Its 2024 merger with Coastal Bank & Trust may account for some of the rise. No report was filed for 2021 and 2022, so the record has a gap there.
Home purchases made up 74.1% of its lending. Its typical loan rose from $185,000 to $295,000, against $175,000 at similar banks. Low- and moderate-income borrowers took 16.7% of its loans, against 27.7%; a purchase lender making larger loans may simply draw higher-income buyers.
Such neighborhoods took 21.2% of its loans, against 6.5% at a typical similar bank, more than at seven in ten of them. The share was 42.1% in 2024 on only 57 loans, so the fall may say more about where a few loans landed than about a change of course.
Its share of Rocky Mount rose from 0.4% to 0.5%, ranking it 41 of 248 lenders; State Employees' Credit Union leads there. It also gained a little in Raleigh-Cary, Wilmington and Jacksonville.
Similar lenders: same lender type, originations between half and twice the lender's in the data year. Written from the 2025 HMDA data and checked figure by figure against it.
FIG. 1 — LOANS ORIGINATED, 2018–2025
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Years with no HMDA report from this lender are left out: since 2020 a bank making fewer than 100 closed-end loans a year need not report. Providence Bank took 97 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 74.1% · Refinance 14.1% · Home improvement 8.2% · Other 3.5%
Conventional 100.0% · of 85 loans. Purchase: buying a home. Refinance: replacing an existing mortgage, including cash-out. FHA: insured by the Federal Housing Administration. VA: guaranteed by the Department of Veterans Affairs. Conventional: neither.
SOURCE: FFIEC HMDA 2025, LOANS ORIGINATED
Where it lends, 2025
| State | Loans | Share |
|---|---|---|
| North Carolina | 85 | 100.0% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Rocky Mount | 15 |
| Jacksonville | 14 |
| Raleigh-Cary | 11 |
| Wilmington | 8 |
| Durham-Chapel Hill | 3 |
| Greenville | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 54930084GJFEXBIOGU45 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 3404506 | 2010–2023 |
| Respondent ID (the HMDA filer code before 2018) | 358239 | 2007–2017 |
Established 14 March 2006. Reported under HMDA 2007-2025.
Mergers, name changes, data editions and corrections: Providence Bank's data.
Providence Bank's data
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