The Greenwood's State Bank Mortgage Rates, Fees & Info

Lake Mills, WI

LEI: 2549006HGDHH72X1BE36

Tax ID: 39-0320310

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    The Greenwood's State Bank is a smaller bank specializing in Home Purchase loans. The Greenwood's State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Madison, Watertown, Beaver Dam, Janesville, and Milwaukee among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

    The Greenwood's State Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. The Greenwood's State Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.70% 12/16/24
    30 Year Conventional Refi 6.68% 12/16/24
    30 Year Cash-out Refi 6.54% 12/16/24
    15 Year Conventional Purchase 6.24% 12/16/24
    15 Year Conventional Refi 5.89% 12/16/24
    15 Year Cash-out Refi 5.89% 12/16/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    The Greenwood's State Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from The Greenwood's State Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    124

    Origination Dollar Volume (All Markets)

    $35,050,000

    Employee count

    48

    Awards

    The Greenwood's State Bank 30 Year Conventional Loans gold The Greenwood's State Bank 30 Year Conventional Loans gold
    Show all (2) awards

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    MADISON, WI (FHA|USDA|VA) 27 $9,285,000 $343,889 $1,353 4.79%
    Watertown-Fort Atkinson, WI (FHA|USDA|VA) 48 $6,710,000 $139,792 $1,176 4.97%
    Beaver Dam, WI (FHA|USDA|VA) 4 $6,230,000 $1,557,500 $1,091 4.75%
    Outside of Metro Areas 6 $5,710,000 $951,667 $1,248 4.58%
    JANESVILLE-BELOIT, WI (FHA|USDA|VA) 23 $4,655,000 $202,391 $1,285 4.97%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 8 $1,280,000 $160,000 $1,254 5.13%
    LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 1 $455,000 $455,000 $2,803 4.88%
    Freeport, IL (FHA|USDA|VA) 1 $235,000 $235,000 $1,123 4.88%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $145,000 $145,000 $930 4.38%
    Whitewater, WI (FHA|USDA|VA) 2 $100,000 $50,000 $1,092 5.85%
    Rochelle, IL (FHA|USDA|VA) 1 $95,000 $95,000 $1,723 5.13%
    ROCKFORD, IL (FHA|USDA|VA) 1 $95,000 $95,000 $921 5.12%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $55,000 $55,000 $1,581 5.00%
    The Greenwood's State Bank's top markets include Madison, Watertown, Beaver Dam, Janesville, and Milwaukee among others.

    Their top states include:
  • Wisconsin (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against The Greenwood's State Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    AppleTree Credit Union
    Similarity Rank: 10
    NORTHWESTERN MUTUAL
    Similarity Rank: 12
    Bank of Milton
    Similarity Rank: 25
    First Community Credit Union
    Similarity Rank: 63
    Kohler Credit Union
    Similarity Rank: 128
    Empower Credit Union
    Similarity Rank: 135
    United Community Bank
    Similarity Rank: 147
    The Greenwood's State Bank
    Similarity Rank: 195
    State Bank of Cross Plains
    Similarity Rank: 207
    HERITAGE CREDIT UNION
    Similarity Rank: 221

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 124 $35,050,000 $282,661 $1,252 4.93%

    For 2018, The Greenwood's State Bank's most frequently originated type of loan was Conventional, with 124 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 66 $25,450,000 $385,606 $1,653 4.93%
    Refi 25 $6,185,000 $247,400 $984 4.69%
    Cash Out Refi 24 $3,020,000 $125,833 $1,013 4.85%
    Other 5 $175,000 $35,000 $334 5.86%
    Home Improvement 4 $220,000 $55,000 $408 5.59%

    For 2018, The Greenwood's State Bank's most frequently cited loan purpose was Home Purchase, with 66 originations. The 2nd most popular reason was Refi, with 25 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 42 $8,700,000 $207,143 $1,533 4.71%
    Other 36 $6,360,000 $176,667 $978 5.31%
    15 Year 16 $2,070,000 $129,375 $1,320 4.30%
    5 Year 13 $13,245,000 $1,018,846 $259 5.24%
    3 Year 8 $3,030,000 $378,750 $0 5.37%
    20 Year 6 $870,000 $145,000 $1,118 4.63%
    1 Year 2 $730,000 $365,000 $207 4.75%
    10 Year 1 $45,000 $45,000 $730 4.50%

    For 2018, The Greenwood's State Bank's most frequently cited loan duration was 30 Year, with 42 originations. The 2nd most popular length was Other, with 36 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 94 $14,410,000 $153,298

    The Greenwood's State Bank's average total fees were $1,533, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 94 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 83 $29,395,000 $354,157
    5-6% 32 $4,570,000 $142,813
    3-4% 5 $795,000 $159,000
    6-7% 4 $290,000 $72,500

    During 2018, The Greenwood's State Bank's average interest rate for loans was 4.71%, while their most frequently originated rate bucket for loans was 4-5%, with 83 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 47 $6,655,000 $141,596 $1,328 4.79%
    $100,000 or less 35 $1,985,000 $56,714 $870 5.20%
    $200k-400k 30 $7,950,000 $265,000 $1,496 4.85%
    $400k-600k 6 $2,840,000 $473,333 $2,276 5.02%
    $1MM+ 5 $15,015,000 $3,003,000 $0 4.76%
    $600k-1MM 1 $605,000 $605,000 $0 4.50%

    2018 saw The Greenwood's State Bank place emphasis on $100k-200k loans with 47 originations, totaling $6,655,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 29 $3,025,000 $104,310 $1,202 4.90%
    $100k-150k 26 $4,300,000 $165,385 $964 4.91%
    $50k or less 16 $1,950,000 $121,875 $1,642 4.97%
    $150k-250k 15 $3,175,000 $211,667 $1,466 4.82%
    $75k-100k 12 $1,940,000 $161,667 $1,323 5.01%
    $250k+ 2 $460,000 $230,000 $1,275 4.92%

    The Greenwood's State Bank lent most frequently to those with incomes in the $50k-75k range, with 29 originations. The second most popular income band? $100k-150k, with 26 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 27 $3,075,000 $113,889 $1,285 4.88%
    20-30% 26 $3,970,000 $152,692 $1,355 4.99%
    <20% 17 $2,595,000 $152,647 $1,109 4.60%
    41% 4 $920,000 $230,000 $1,139 4.91%
    39% 4 $830,000 $207,500 $1,331 5.08%
    42% 4 $730,000 $182,500 $844 4.75%
    43% 3 $725,000 $241,667 $1,517 4.74%
    36% 3 $435,000 $145,000 $905 5.12%
    38% 3 $545,000 $181,667 $1,109 4.94%
    40% 2 $260,000 $130,000 $1,838 5.00%
    37% 2 $220,000 $110,000 $609 5.01%
    44% 2 $530,000 $265,000 $2,269 4.86%
    48% 1 $25,000 $25,000 $322 5.95%
    >60% 1 $165,000 $165,000 $0 6.00%

    The Greenwood's State Bank lent most frequently to those with DTI ratios of 30-36%, with 27 originations. The next most common DTI ratio? 20-30%, with 26 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 17 $17,445,000 $1,026,176 $0 4.94%
    White 104 $16,780,000 $161,346 $1,229 4.92%
    Not provided 2 $600,000 $300,000 $2,396 5.17%
    Asian 1 $225,000 $225,000 $2,175 4.88%

    Approval Rates

    Total approvals of all applications
    92.91%

    The Greenwood's State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    94.35%

    The Greenwood's State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 124 $35,050,000 $282,661

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 7 $16,105,000 $2,300,714
    Single Family (1-4 Units):Manufactured 1 $45,000 $45,000
    Single Family (1-4 Units):Site-Built 116 $18,900,000 $162,931

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 10 $2,040,000 $204,000 $930 4.83%
    40-60% 18 $3,810,000 $211,667 $1,147 4.54%
    60-80% 44 $8,540,000 $194,091 $1,395 4.89%
    80-100% 37 $15,605,000 $421,757 $1,648 4.80%
    Over 100% 1 $4,645,000 $4,645,000 $0 4.50%
    Under 20% 14 $410,000 $29,286 $318 5.96%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Greenwoods State Bank 12 J. Lendemann Drive Evansville, WI 53536 Full Service B&M $17,418
    Greenwoods State Bank 123 North Main Street Lake Mills, WI 53551 Full Service B&M $52,896
    Greenwoods State Bank 238 North Main Street Monticello, WI 53570 Full Service B&M $56,625
    Greenwoods State Bank 300 East Lake Street Lake Mills, WI 53551 Full Service B&M $27,198
    Greenwoods State Bank 401 West Coates Avenue Monticello, WI 53570 Full Service B&M $0
    Greenwoods State Bank 47 S Water Street E Fort Atkinson, WI 53538 Full Service B&M $1,773

    For 2018, The Greenwood's State Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $7,590
    Net interest income $6,710
    Total noninterest income $1,968
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $177
    Trading account gains and fees $0
    Additional Noninterest Income $1,791
    Pre-tax net operating income $1,264
    Securities gains (or losses, -) $329
    Income before extraordinary items $1,296
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,296
    Minority interest net income $0
    Net income $1,296
    Sale, conversion, retirement of capital stock, net $151
    Net operating income $1,029

    The Greenwood's State Bank's gross interest income from loans was $7,590,000.
    The Greenwood's State Bank's net interest income from loans was $6,710,000.
    The Greenwood's State Bank's fee based income from loans was $177,000.
    The Greenwood's State Bank's net income from loans was $1,296,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $880
    Provision for credit losses $-31
    Total noninterest expense $7,445
    Salaries and employee benefits $4,736
    Premises and equipment expense $528
    Additional noninterest expense $2,181
    Applicable income taxes $297
    Net charge-offs $-94
    Cash dividends $300

    The Greenwood's State Bank's interest expense for loans was $880,000.
    The Greenwood's State Bank's payroll and benefits expense were $4,736,000.
    The Greenwood's State Bank's property, plant and equipment expenses $528,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 2.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $152,750
    Deposits held in domestic offices $152,750
    Deposits by Individuals, partnerships, and corporations $136,132
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $9,207
    Deposits by Commercial banks and other depository institutions in U.S. $7,411
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $73,010
    Demand deposits $27,474
    Nontransaction accounts $79,740
    Money market deposit accounts (MMDAs) $13,707
    Other savings deposits (excluding MMDAs) $25,205
    Total time deposits $40,828
    Total time and savings deposits $125,276
    Noninterest-bearing deposits $27,822
    Interest-bearing deposits $124,928
    Retail deposits $147,889
    IRAs and Keogh plan accounts $5,108
    Brokered deposits $4,008
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $179,378
    Cash & Balances due from depository institutions $9,859
    Interest-bearing balances $5,946
    Total securities $10,552
    Federal funds sold & reverse repurchase $1,163
    Net loans and leases $145,629
    Loan and leases loss allowance $2,044
    Trading account assets $0
    Bank premises and fixed assets $2,872
    Other real estate owned $0
    Goodwill and other intangibles $1,557
    All other assets $7,746

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $179,378
    Total Liabilities $159,078
    Total deposits $152,750
    Interest-bearing deposits $124,928
    Deposits held in domestic offices $152,750
    % insured (estimated) $88
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $5,114
    Subordinated debt $0
    All other liabilities $1,214

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $145,629
    Loan and leases loss allowance $2,044
    Total loans and leases (domestic) $147,673
    All real estate loans $121,917
    Real estate loans in domestic offices $121,917
    Construction and development loans $18,380
    Residential 1-4 family construction $4,161
    Other construction, all land development and other land $14,219
    Loans secured by nonfarm nonresidential properties $48,067
    Nonfarm nonresidential secured by owner-occupied properties $35,697
    Commercial real estate & other non-farm, non-residential $12,370
    Multifamily residential real estate $9,869
    1-4 family residential loans $35,995
    Farmland loans $9,606
    Loans held in foreign offices $0
    Farm loans $2,729
    Commercial and industrial loans $17,256
    To non-U.S. addressees $0
    Loans to individuals $3,570
    Credit card loans $52
    Related Plans $172
    Consumer Auto Loans $1,845
    Other loans to individuals $1,501
    All other loans & leases $2,201
    Loans to foreign governments and official institutions $0
    Other loans $0
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $613
    Non 1-4 family restructured loans & leases $575
    Total loans and leases (foreign) $0

    The Greenwood's State Bank had $145,629,000 of loans outstanding in 2018. $121,917,000 of loans were in real estate loans. $18,380,000 of loans were in development loans. $9,869,000 of loans were in multifamily mortgage loans. $35,995,000 of loans were in 1-4 family mortgage loans. $2,729,000 of loans were in farm loans. $52,000 of loans were in credit card loans. $1,845,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 100 $23,373 $233,730
    Nonfarm, nonresidential loans - <$100k 21 $834 $39,714
    Nonfarm, nonresidential loans - $100-250k 36 $4,722 $131,167
    Nonfarm, nonresidential loans - $250k-1MM 43 $17,817 $414,349
    Commercial & Industrial, US addressed loans - <$1MM 215 $12,197 $56,730
    Commercial & Industrial, US addressed loans - <$100k 162 $3,083 $19,031
    Commercial & Industrial, US addressed loans - $100-250k 24 $2,797 $116,542
    Commercial & Industrial, US addressed loans - $250k-1MM 29 $6,317 $217,828
    Farmland loans - <$1MM 45 $5,540 $123,111
    Farmland loans - <$100k 17 $611 $35,941
    Farmland loans - $100-250k 21 $3,039 $144,714
    Farmland loans - $250k-1MM 7 $1,890 $270,000
    Agriculture operations loans - <$1MM 47 $1,951 $41,511
    Agriculture operations loans - <$100k 42 $1,256 $29,905
    Agriculture operations loans - $100-250k 4 $662 $165,500
    Agriculture operations loans - $250k-1MM 1 $33 $33,000