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 and Refi loans. The Greenwood's State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Racine, Whitewater, Watertown, Madison, and Appleton among others. We have data for 14 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% 4/21/24
    30 Year Conventional Refi 6.68% 4/21/24
    30 Year Cash-out Refi 6.54% 4/21/24
    15 Year Conventional Purchase 6.24% 4/21/24
    15 Year Conventional Refi 5.89% 4/21/24
    15 Year Cash-out Refi 5.89% 4/21/24
    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

    237

    Origination Dollar Volume (All Markets)

    $70,225,000

    Employee count

    71 Show all (7) 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
    RACINE, WI (FHA|USDA|VA) 23 $15,535,000 $675,435 $1,824 4.20%
    Whitewater, WI (FHA|USDA|VA) 50 $12,720,000 $254,400 $1,754 4.05%
    Watertown-Fort Atkinson, WI (FHA|USDA|VA) 50 $9,620,000 $192,400 $1,422 4.39%
    MADISON, WI (FHA|USDA|VA) 37 $7,675,000 $207,432 $1,939 4.43%
    APPLETON, WI (FHA|USDA|VA) 1 $7,005,000 $7,005,000 $0 4.76%
    JANESVILLE-BELOIT, WI (FHA|USDA|VA) 31 $5,235,000 $168,871 $1,408 4.18%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 19 $4,185,000 $220,263 $1,273 4.90%
    Outside of Metro Areas 7 $3,885,000 $555,000 $1,166 4.50%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 6 $1,530,000 $255,000 $1,432 3.85%
    Beaver Dam, WI (FHA|USDA|VA) 7 $1,095,000 $156,429 $2,028 4.82%
    Baraboo, WI (FHA|USDA|VA) 3 $1,045,000 $348,333 $1,128 4.29%
    GREEN BAY, WI (FHA|USDA|VA) 1 $355,000 $355,000 $600 3.75%
    Freeport, IL (FHA|USDA|VA) 1 $235,000 $235,000 $1,557 3.75%
    ST. CLOUD, MN (FHA|USDA|VA) 1 $105,000 $105,000 $0 5.59%
    The Greenwood's State Bank's top markets include Racine, Whitewater, Watertown, Madison, and Appleton among others.

    Their top states include:
  • Wisconsin (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Minnesota (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: 8
    NORTHWESTERN MUTUAL
    Similarity Rank: 117
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    Similarity Rank: 144
    Fox River State Bank
    Similarity Rank: 306
    Dane County Credit Union
    Similarity Rank: 315
    Heartland Credit Union (Madison)
    Similarity Rank: 384
    First Community Credit Union
    Similarity Rank: 390
    EDUCATORS CREDIT UNION
    Similarity Rank: 418
    Kohler Credit Union
    Similarity Rank: 418
    The Park Bank
    Similarity Rank: 425

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 237 $70,225,000 $296,308 $1,609 4.32%

    For 2019, The Greenwood's State Bank's most frequently originated type of loan was Conventional, with 237 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 90 $39,680,000 $440,889 $1,933 4.54%
    Refi 73 $17,295,000 $236,918 $1,530 3.87%
    Cash Out Refi 68 $12,240,000 $180,000 $1,415 4.44%
    Home Improvement 4 $190,000 $47,500 $283 5.28%
    Other 1 $75,000 $75,000 $602 5.25%
    NA 1 $745,000 $745,000 $0 4.65%

    For 2019, The Greenwood's State Bank's most frequently cited loan purpose was Home Purchase, with 90 originations. The 2nd most popular reason was Refi, with 73 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 118 $26,180,000 $221,864 $1,717 4.08%
    Other 43 $15,305,000 $355,930 $1,329 5.04%
    15 Year 34 $6,100,000 $179,412 $1,432 3.39%
    5 Year 20 $18,060,000 $903,000 $3,100 5.20%
    1 Year 8 $1,910,000 $238,750 $1,047 5.38%
    20 Year 7 $1,315,000 $187,857 $1,383 3.96%
    3 Year 6 $1,310,000 $218,333 $0 5.50%
    10 Year 1 $45,000 $45,000 $1,050 3.13%

    For 2019, The Greenwood's State Bank's most frequently cited loan duration was 30 Year, with 118 originations. The 2nd most popular length was Other, with 43 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 184 $36,330,000 $197,446
    $1k-2k 10 $1,660,000 $166,000
    $2k-3k 4 $910,000 $227,500
    $5k+ 1 $575,000 $575,000

    The Greenwood's State Bank's average total fees were $1,717, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 184 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 114 $23,720,000 $208,070
    5-6% 59 $13,975,000 $236,864
    4-5% 57 $30,845,000 $541,140
    2.5-3% 5 $1,005,000 $201,000
    6-7% 2 $680,000 $340,000

    During 2019, The Greenwood's State Bank's average interest rate for loans was 4.08%, while their most frequently originated rate bucket for loans was 3-4%, with 114 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 88 $13,400,000 $152,273 $1,562 4.23%
    $200k-400k 79 $22,425,000 $283,861 $1,628 4.09%
    $100,000 or less 51 $3,515,000 $68,922 $1,293 4.66%
    $400k-600k 8 $3,870,000 $483,750 $3,638 4.31%
    $600k-1MM 7 $5,155,000 $736,429 $0 5.31%
    $1MM+ 4 $21,860,000 $5,465,000 $0 4.97%

    2019 saw The Greenwood's State Bank place emphasis on $100k-200k loans with 88 originations, totaling $13,400,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 48 $10,880,000 $226,667 $1,910 4.17%
    $50k-75k 44 $6,680,000 $151,818 $1,693 4.19%
    $150k-250k 35 $9,805,000 $280,143 $1,423 4.09%
    $75k-100k 34 $6,540,000 $192,353 $1,273 4.02%
    $50k or less 22 $2,460,000 $111,818 $1,489 4.33%
    $250k+ 21 $5,285,000 $251,667 $1,706 4.27%

    The Greenwood's State Bank lent most frequently to those with incomes in the $100k-150k range, with 48 originations. The second most popular income band? $50k-75k, with 44 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 80 $16,740,000 $209,250 $1,501 4.10%
    <20% 39 $6,525,000 $167,308 $1,962 4.26%
    30-36% 35 $7,135,000 $203,857 $1,673 4.14%
    40% 9 $2,105,000 $233,889 $1,524 4.14%
    38% 7 $715,000 $102,143 $1,508 4.17%
    36% 6 $1,270,000 $211,667 $1,540 4.02%
    41% 5 $985,000 $197,000 $1,698 3.95%
    >60% 4 $1,950,000 $487,500 $1,012 5.20%
    45% 4 $770,000 $192,500 $1,425 4.78%
    46% 3 $795,000 $265,000 $1,575 3.92%
    43% 2 $470,000 $235,000 $1,172 4.13%
    44% 2 $220,000 $110,000 $1,577 4.31%
    37% 2 $600,000 $300,000 $1,738 3.81%
    39% 2 $110,000 $55,000 $954 4.81%
    47% 1 $165,000 $165,000 $1,037 3.63%
    48% 1 $285,000 $285,000 $1,385 3.88%
    50-60% 1 $355,000 $355,000 $1,003 3.50%
    42% 1 $385,000 $385,000 $1,388 3.38%

    The Greenwood's State Bank lent most frequently to those with DTI ratios of 20-30%, with 80 originations. The next most common DTI ratio? <20%, with 39 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 196 $39,610,000 $202,092 $1,582 4.19%
    Not applicable 29 $27,945,000 $963,621 $0 5.26%
    Not provided 12 $2,670,000 $222,500 $2,029 4.19%

    Approval Rates

    Total approvals of all applications
    95.80%

    The Greenwood's State Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    94.09%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 237 $70,225,000 $296,308

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 10 $25,200,000 $2,520,000
    Single Family (1-4 Units):Manufactured 2 $80,000 $40,000
    Single Family (1-4 Units):Site-Built 225 $44,945,000 $199,756

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 25 $3,095,000 $123,800 $939 4.25%
    40-60% 38 $7,720,000 $203,158 $1,416 3.96%
    60-80% 108 $31,960,000 $295,926 $1,751 4.32%
    80-100% 50 $21,480,000 $429,600 $1,952 4.48%
    Over 100% 7 $4,035,000 $576,429 $0 5.43%
    Under 20% 9 $1,935,000 $215,000 $912 4.34%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    The Greenwood's State Bank 12 J. Lendemann Drive Evansville, WI 53536 Full Service B&M $19,744
    The Greenwood's State Bank 238 North Main Street Monticello, WI 53570 Full Service B&M $56,888
    The Greenwood's State Bank 241 E. Jefferson Street Burlington, WI 53105 Full Service B&M $83,364
    The Greenwood's State Bank 300 East Lake Street Lake Mills, WI 53551 Full Service B&M $27,232
    The Greenwood's State Bank 3212 Fiddlers Creek Drive Waukesha, WI 53188 Full Service B&M $1,482
    The Greenwood's State Bank 365 West Tyranena Park Road Lake Mills, WI 53551 Full Service B&M $57,699
    The Greenwood's State Bank 401 West Coates Avenue Monticello, WI 53570 Full Service B&M $0
    The Greenwood's State Bank 500 Interchange North Suite 1 Lake Geneva, WI 53147 Full Service B&M $5,268

    For 2019, The Greenwood's State Bank had 8 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $12,050
    Net interest income $10,196
    Total noninterest income $2,538
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $238
    Trading account gains and fees $0
    Additional Noninterest Income $2,300
    Pre-tax net operating income $2,376
    Securities gains (or losses, -) $48
    Income before extraordinary items $2,020
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,020
    Minority interest net income $0
    Net income $2,020
    Sale, conversion, retirement of capital stock, net $143
    Net operating income $1,980

    The Greenwood's State Bank's gross interest income from loans was $12,050,000.
    The Greenwood's State Bank's net interest income from loans was $10,196,000.
    The Greenwood's State Bank's fee based income from loans was $238,000.
    The Greenwood's State Bank's net income from loans was $2,020,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,854
    Provision for credit losses $311
    Total noninterest expense $10,047
    Salaries and employee benefits $6,118
    Premises and equipment expense $985
    Additional noninterest expense $2,944
    Applicable income taxes $404
    Net charge-offs $12
    Cash dividends $1,475

    The Greenwood's State Bank's interest expense for loans was $1,854,000.
    The Greenwood's State Bank's payroll and benefits expense were $6,118,000.
    The Greenwood's State Bank's property, plant and equipment expenses $985,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    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 $271,142
    Deposits held in domestic offices $271,142
    Deposits by Individuals, partnerships, and corporations $245,946
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $11,842
    Deposits by Commercial banks and other depository institutions in U.S. $13,354
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $116,136
    Demand deposits $57,432
    Nontransaction accounts $155,006
    Money market deposit accounts (MMDAs) $34,305
    Other savings deposits (excluding MMDAs) $30,541
    Total time deposits $90,160
    Total time and savings deposits $213,710
    Noninterest-bearing deposits $57,581
    Interest-bearing deposits $213,561
    Retail deposits $250,747
    IRAs and Keogh plan accounts $9,012
    Brokered deposits $10,011
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $313,661
    Cash & Balances due from depository institutions $17,839
    Interest-bearing balances $11,589
    Total securities $14,228
    Federal funds sold & reverse repurchase $1,483
    Net loans and leases $256,762
    Loan and leases loss allowance $2,343
    Trading account assets $0
    Bank premises and fixed assets $6,255
    Other real estate owned $0
    Goodwill and other intangibles $7,791
    All other assets $9,303

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $313,661
    Total Liabilities $278,305
    Total deposits $271,142
    Interest-bearing deposits $213,561
    Deposits held in domestic offices $271,142
    % insured (estimated) $83
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $4,444
    Subordinated debt $0
    All other liabilities $2,719

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $256,762
    Loan and leases loss allowance $2,343
    Total loans and leases (domestic) $259,105
    All real estate loans $223,093
    Real estate loans in domestic offices $223,093
    Construction and development loans $28,928
    Residential 1-4 family construction $8,308
    Other construction, all land development and other land $20,620
    Loans secured by nonfarm nonresidential properties $101,157
    Nonfarm nonresidential secured by owner-occupied properties $65,416
    Commercial real estate & other non-farm, non-residential $35,741
    Multifamily residential real estate $21,576
    1-4 family residential loans $58,515
    Farmland loans $12,917
    Loans held in foreign offices $0
    Farm loans $2,151
    Commercial and industrial loans $27,520
    To non-U.S. addressees $0
    Loans to individuals $4,049
    Credit card loans $85
    Related Plans $158
    Consumer Auto Loans $1,636
    Other loans to individuals $2,170
    All other loans & leases $2,292
    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 $2,522
    Non 1-4 family restructured loans & leases $1,881
    Total loans and leases (foreign) $0

    The Greenwood's State Bank had $256,762,000 of loans outstanding in 2019. $223,093,000 of loans were in real estate loans. $28,928,000 of loans were in development loans. $21,576,000 of loans were in multifamily mortgage loans. $58,515,000 of loans were in 1-4 family mortgage loans. $2,151,000 of loans were in farm loans. $85,000 of loans were in credit card loans. $1,636,000 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 189 $46,775 $247,487
    Nonfarm, nonresidential loans - <$100k 36 $1,545 $42,917
    Nonfarm, nonresidential loans - $100-250k 65 $9,225 $141,923
    Nonfarm, nonresidential loans - $250k-1MM 88 $36,005 $409,148
    Commercial & Industrial, US addressed loans - <$1MM 277 $16,366 $59,083
    Commercial & Industrial, US addressed loans - <$100k 200 $4,451 $22,255
    Commercial & Industrial, US addressed loans - $100-250k 41 $4,487 $109,439
    Commercial & Industrial, US addressed loans - $250k-1MM 36 $7,428 $206,333
    Farmland loans - <$1MM 47 $7,718 $164,213
    Farmland loans - <$100k 16 $626 $39,125
    Farmland loans - $100-250k 19 $2,784 $146,526
    Farmland loans - $250k-1MM 12 $4,308 $359,000
    Agriculture operations loans - <$1MM 37 $1,411 $38,135
    Agriculture operations loans - <$100k 34 $896 $26,353
    Agriculture operations loans - $100-250k 3 $515 $171,667