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™
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    • 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 Refi, Cash Out Refi, and Home Purchase loans. The Greenwood's State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Whitewater, Watertown, Madison, Milwaukee, and Racine among others. We have data for 25 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.70% 4/14/24
    30 Year Conventional Refi 6.68% 4/14/24
    30 Year Cash-out Refi 6.54% 4/14/24
    15 Year Conventional Purchase 6.24% 4/14/24
    15 Year Conventional Refi 5.89% 4/14/24
    15 Year Cash-out Refi 5.89% 4/14/24
    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

    441

    Origination Dollar Volume (All Markets)

    $122,435,000

    Employee count

    99 Show all (14) 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
    Whitewater, WI (FHA|USDA|VA) 101 $25,345,000 $250,941 $1,539 2.90%
    Watertown-Fort Atkinson, WI (FHA|USDA|VA) 74 $14,800,000 $200,000 $1,429 2.88%
    MADISON, WI (FHA|USDA|VA) 62 $14,020,000 $226,129 $1,494 2.83%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 36 $13,010,000 $361,389 $1,430 3.26%
    RACINE, WI (FHA|USDA|VA) 46 $10,980,000 $238,696 $1,404 2.88%
    JANESVILLE-BELOIT, WI (FHA|USDA|VA) 62 $10,280,000 $165,806 $1,523 2.64%
    Outside of Metro Areas 15 $10,105,000 $673,667 $1,797 2.99%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 17 $7,825,000 $460,294 $1,567 2.74%
    RAPID CITY, SD (FHA|USDA|VA) 1 $3,405,000 $3,405,000 $0 3.25%
    Paris, TN (FHA|USDA|VA) 1 $2,865,000 $2,865,000 $0 3.25%
    CEDAR RAPIDS, IA (FHA|USDA|VA) 1 $2,055,000 $2,055,000 $0 3.35%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $1,505,000 $1,505,000 $0 2.72%
    Hays, KS (FHA|USDA|VA) 1 $1,435,000 $1,435,000 $0 2.72%
    Beaver Dam, WI (FHA|USDA|VA) 6 $1,300,000 $216,667 $1,447 3.31%
    Baraboo, WI (FHA|USDA|VA) 2 $850,000 $425,000 $1,043 3.25%
    Shawano, WI (FHA|USDA|VA) 2 $530,000 $265,000 $1,824 3.25%
    GREEN BAY, WI (FHA|USDA|VA) 2 $410,000 $205,000 $1,761 2.94%
    LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 1 $395,000 $395,000 $951 2.63%
    Menomonie, WI (FHA|USDA|VA) 2 $270,000 $135,000 $1,850 3.31%
    Arkadelphia, AR (FHA|USDA|VA) 1 $255,000 $255,000 $1,783 2.88%
    Rochelle, IL (FHA|USDA|VA) 2 $220,000 $110,000 $1,391 3.06%
    Freeport, IL (FHA|USDA|VA) 2 $190,000 $95,000 $1,466 2.56%
    THE VILLAGES, FL (FHA|USDA|VA) 1 $175,000 $175,000 $0 4.75%
    FOND DU LAC, WI (FHA|USDA|VA) 1 $145,000 $145,000 $1,026 2.50%
    Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) 1 $65,000 $65,000 $1,814 3.50%
    The Greenwood's State Bank's top markets include Whitewater, Watertown, Madison, Milwaukee, and Racine among others.

    Their top states include:
  • Wisconsin (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • South Dakota (FHA|USDA|VA)
  • Kansas (FHA|USDA|VA)
  • Tennessee (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.

    SENB Bank
    Similarity Rank: 396
    DMB Community Bank
    Similarity Rank: 400
    Dane County Credit Union
    Similarity Rank: 531
    NORTHWESTERN MUTUAL
    Similarity Rank: 670
    Monona Bank
    Similarity Rank: 793
    Starion Bank
    Similarity Rank: 900
    Mound City Bank
    Similarity Rank: 966
    Westbury Bank
    Similarity Rank: 1007
    Bank of Sun Prairie
    Similarity Rank: 1056
    The Peoples Community Bank
    Similarity Rank: 1079

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 441 $122,435,000 $277,630 $1,498 2.89%

    For 2021, The Greenwood's State Bank's most frequently originated type of loan was Conventional, with 441 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 191 $54,485,000 $285,262 $1,265 2.73%
    Cash Out Refi 138 $33,480,000 $242,609 $1,449 2.85%
    Home Purchase 110 $34,320,000 $312,000 $2,046 3.23%
    Home Improvement 1 $15,000 $15,000 $0 3.25%
    Other 1 $135,000 $135,000 $1,074 2.63%

    For 2021, The Greenwood's State Bank's most frequently cited loan purpose was Refi, with 191 originations. The 2nd most popular reason was Cash Out Refi, with 138 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 248 $59,170,000 $238,589 $1,545 2.92%
    15 Year 91 $18,135,000 $199,286 $1,381 2.23%
    5 Year 29 $23,885,000 $823,621 $861 3.95%
    20 Year 28 $5,800,000 $207,143 $1,338 2.73%
    Other 18 $7,070,000 $392,778 $2,388 4.42%
    10 Year 18 $2,540,000 $141,111 $1,161 2.10%
    1 Year 5 $1,765,000 $353,000 $0 4.55%
    3 Year 4 $4,070,000 $1,017,500 $0 3.90%

    For 2021, The Greenwood's State Bank's most frequently cited loan duration was 30 Year, with 248 originations. The 2nd most popular length was 15 Year, with 91 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 392 $86,240,000 $220,000
    $2k-3k 3 $845,000 $281,667
    $1k-2k 2 $180,000 $90,000
    $3k-4k 2 $2,730,000 $1,365,000

    The Greenwood's State Bank's average total fees were $1,545, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 392 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 192 $48,160,000 $250,833
    <2.5% 135 $25,825,000 $191,296
    3-4% 82 $40,450,000 $493,293
    4-5% 29 $7,785,000 $268,448
    5-6% 2 $190,000 $95,000
    6-7% 1 $25,000 $25,000

    During 2021, The Greenwood's State Bank's average interest rate for loans was 2.92%, while their most frequently originated rate bucket for loans was 2.5-3%, with 192 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 177 $26,565,000 $150,085 $1,455 2.83%
    $200k-400k 148 $40,580,000 $274,189 $1,496 2.84%
    $100,000 or less 54 $4,060,000 $75,185 $1,431 3.01%
    $400k-600k 46 $21,890,000 $475,870 $1,661 2.89%
    $1MM+ 11 $25,775,000 $2,343,182 $4,976 3.39%
    $600k-1MM 5 $3,565,000 $713,000 $0 4.18%

    2021 saw The Greenwood's State Bank place emphasis on $100k-200k loans with 177 originations, totaling $26,565,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 117 $26,875,000 $229,701 $1,449 2.69%
    $50k-75k 83 $13,845,000 $166,807 $1,500 2.79%
    $150k-250k 72 $21,000,000 $291,667 $1,520 2.88%
    $75k-100k 62 $12,660,000 $204,194 $1,550 2.75%
    $250k+ 37 $13,075,000 $353,378 $1,597 2.97%
    $50k or less 36 $3,890,000 $108,056 $1,458 2.92%

    The Greenwood's State Bank lent most frequently to those with incomes in the $100k-150k range, with 117 originations. The second most popular income band? $50k-75k, with 83 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 141 $31,415,000 $222,801 $1,484 2.74%
    <20% 94 $18,440,000 $196,170 $1,426 2.66%
    30-36% 64 $16,430,000 $256,719 $1,570 2.77%
    40% 13 $3,435,000 $264,231 $1,874 3.03%
    36% 13 $2,885,000 $221,923 $1,409 3.12%
    41% 12 $2,830,000 $235,833 $1,522 2.83%
    44% 8 $1,330,000 $166,250 $1,436 2.66%
    38% 8 $1,970,000 $246,250 $1,661 2.64%
    47% 8 $1,540,000 $192,500 $1,427 2.80%
    42% 6 $2,010,000 $335,000 $1,754 2.85%
    43% 5 $1,185,000 $237,000 $1,477 2.78%
    46% 5 $1,605,000 $321,000 $1,401 2.75%
    37% 5 $1,035,000 $207,000 $1,799 3.03%
    48% 5 $1,485,000 $297,000 $1,446 3.13%
    39% 4 $840,000 $210,000 $1,419 2.78%
    49% 3 $455,000 $151,667 $1,160 2.67%
    45% 3 $895,000 $298,333 $1,043 2.79%
    50-60% 1 $185,000 $185,000 $3,176 5.00%

    The Greenwood's State Bank lent most frequently to those with DTI ratios of 20-30%, with 141 originations. The next most common DTI ratio? <20%, with 94 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 379 $86,165,000 $227,348 $1,494 2.81%
    Not applicable 30 $29,710,000 $990,333 $0 3.88%
    Not provided 24 $4,690,000 $195,417 $1,460 3.03%
    Black 3 $625,000 $208,333 $1,416 2.58%
    Other Asian 1 $545,000 $545,000 $1,746 2.88%
    American Indian 1 $215,000 $215,000 $1,788 2.63%
    Asian Indian 1 $185,000 $185,000 $2,783 2.63%
    Asian 1 $165,000 $165,000 $1,402 2.88%
    Filipino 1 $135,000 $135,000 $2,268 3.00%

    Approval Rates

    Total approvals of all applications
    95.72%

    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
    93.42%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 441 $122,435,000 $277,630

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    441 $122,435,000 $277,630

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 50 $7,070,000 $141,400 $1,301 2.55%
    40-60% 114 $32,190,000 $282,368 $1,319 2.66%
    60-80% 204 $60,890,000 $298,480 $1,493 2.98%
    80-100% 64 $20,660,000 $322,813 $2,094 3.20%
    Over 100% 1 $245,000 $245,000 $0 4.50%
    Under 20% 8 $1,380,000 $172,500 $1,052 3.48%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    The Greenwood's State Bank 101 7-1/2 Street Monroe, WI 53566 Full Service B&M $18,902
    The Greenwood's State Bank 102 West Main Street Albany, WI 53502 Full Service B&M $18,975
    The Greenwood's State Bank 12 J. Lendemann Drive Evansville, WI 53536 Full Service B&M $36,099
    The Greenwood's State Bank 15815 Highway 81 Darlington, WI 53530 Full Service B&M $33,634
    The Greenwood's State Bank 241 E. Jefferson Street Burlington, WI 53105 Full Service B&M $118,253
    The Greenwood's State Bank 300 East Lake Street Lake Mills, WI 53551 Full Service B&M $43,183
    The Greenwood's State Bank 3212 Fiddlers Creek Drive Waukesha, WI 53188 Full Service B&M $9,072
    The Greenwood's State Bank 365 West Tyranena Park Road Lake Mills, WI 53551 Full Service B&M $86,793
    The Greenwood's State Bank 401 West Coates Avenue Monticello, WI 53570 Full Service B&M $71,256
    The Greenwood's State Bank 500 Interchange North Suite 1 Lake Geneva, WI 53147 Full Service B&M $8,082

    For 2021, The Greenwood's State Bank had 10 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $21,987
    Net interest income $20,032
    Total noninterest income $7,808
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $224
    Trading account gains and fees $0
    Additional Noninterest Income $7,584
    Pre-tax net operating income $7,090
    Securities gains (or losses, -) $578
    Income before extraordinary items $5,875
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,875
    Minority interest net income $0
    Net income $5,875
    Sale, conversion, retirement of capital stock, net $3,225
    Net operating income $5,418

    The Greenwood's State Bank's gross interest income from loans was $21,987,000.
    The Greenwood's State Bank's net interest income from loans was $20,032,000.
    The Greenwood's State Bank's fee based income from loans was $224,000.
    The Greenwood's State Bank's net income from loans was $5,875,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,955
    Provision for credit losses $1,007
    Total noninterest expense $19,743
    Salaries and employee benefits $13,059
    Premises and equipment expense $1,438
    Additional noninterest expense $5,246
    Applicable income taxes $1,793
    Net charge-offs $92
    Cash dividends $750

    The Greenwood's State Bank's interest expense for loans was $1,955,000.
    The Greenwood's State Bank's payroll and benefits expense were $13,059,000.
    The Greenwood's State Bank's property, plant and equipment expenses $1,438,000.

    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 1.0%
    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 $470,557
    Deposits held in domestic offices $470,557
    Deposits by Individuals, partnerships, and corporations $451,451
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $18,115
    Deposits by Commercial banks and other depository institutions in U.S. $991
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $221,522
    Demand deposits $106,814
    Nontransaction accounts $249,035
    Money market deposit accounts (MMDAs) $94,666
    Other savings deposits (excluding MMDAs) $62,872
    Total time deposits $91,497
    Total time and savings deposits $363,743
    Noninterest-bearing deposits $107,120
    Interest-bearing deposits $363,437
    Retail deposits $454,325
    IRAs and Keogh plan accounts $13,782
    Brokered deposits $17
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $535,416
    Cash & Balances due from depository institutions $68,480
    Interest-bearing balances $62,839
    Total securities $44,489
    Federal funds sold & reverse repurchase $4,831
    Net loans and leases $387,558
    Loan and leases loss allowance $4,639
    Trading account assets $0
    Bank premises and fixed assets $7,823
    Other real estate owned $0
    Goodwill and other intangibles $12,286
    All other assets $9,949

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $535,416
    Total Liabilities $480,303
    Total deposits $470,557
    Interest-bearing deposits $363,437
    Deposits held in domestic offices $470,557
    % insured (estimated) $75
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $7,051
    Subordinated debt $0
    All other liabilities $2,695

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $387,558
    Loan and leases loss allowance $4,639
    Total loans and leases (domestic) $392,197
    All real estate loans $242,753
    Real estate loans in domestic offices $242,753
    Construction and development loans $30,446
    Residential 1-4 family construction $9,329
    Other construction, all land development and other land $21,117
    Loans secured by nonfarm nonresidential properties $103,344
    Nonfarm nonresidential secured by owner-occupied properties $55,276
    Commercial real estate & other non-farm, non-residential $48,068
    Multifamily residential real estate $44,178
    1-4 family residential loans $49,749
    Farmland loans $15,036
    Loans held in foreign offices $0
    Farm loans $2,590
    Commercial and industrial loans $141,339
    To non-U.S. addressees $0
    Loans to individuals $1,941
    Credit card loans $43
    Related Plans $115
    Consumer Auto Loans $758
    Other loans to individuals $1,025
    All other loans & leases $3,574
    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 $1,511
    Non 1-4 family restructured loans & leases $1,079
    Total loans and leases (foreign) $0

    The Greenwood's State Bank had $387,558,000 of loans outstanding in 2021. $242,753,000 of loans were in real estate loans. $30,446,000 of loans were in development loans. $44,178,000 of loans were in multifamily mortgage loans. $49,749,000 of loans were in 1-4 family mortgage loans. $2,590,000 of loans were in farm loans. $43,000 of loans were in credit card loans. $758,000 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 162 $36,772 $226,988
    Nonfarm, nonresidential loans - <$100k 32 $1,558 $48,688
    Nonfarm, nonresidential loans - $100-250k 59 $8,020 $135,932
    Nonfarm, nonresidential loans - $250k-1MM 71 $27,194 $383,014
    Commercial & Industrial, US addressed loans - <$1MM 1,217 $123,392 $101,390
    Commercial & Industrial, US addressed loans - <$100k 545 $24,225 $44,450
    Commercial & Industrial, US addressed loans - $100-250k 634 $86,454 $136,363
    Commercial & Industrial, US addressed loans - $250k-1MM 38 $12,713 $334,553
    Farmland loans - <$1MM 91 $10,994 $120,813
    Farmland loans - <$100k 39 $1,224 $31,385
    Farmland loans - $100-250k 30 $3,700 $123,333
    Farmland loans - $250k-1MM 22 $6,070 $275,909
    Agriculture operations loans - <$1MM 57 $1,167 $20,474
    Agriculture operations loans - <$100k 51 $695 $13,627
    Agriculture operations loans - $100-250k 6 $472 $78,667