Dairy State Bank Mortgage Rates, Fees & Info

Rice Lake, WI

LEI: 2549006KT1XNB09W2M78

Tax ID: 39-0848078

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

Jump to:

Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Dairy State Bank is a smaller bank specializing in Home Purchase and Refi loans. Dairy State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Menomonie, Eau Claire, Minneapolis, and Duluth among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Dairy State Bank has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders.

    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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    Originations

    219

    Origination Dollar Volume (All Markets)

    $25,145,000

    Employee count

    108

    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
    Outside of Metro Areas 131 $12,895,000 $98,435 $0 0.00%
    Menomonie, WI (FHA|USDA|VA) 69 $9,465,000 $137,174 $0 0.00%
    EAU CLAIRE, WI (FHA|USDA|VA) 13 $1,605,000 $123,462 $0 0.00%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 5 $1,165,000 $233,000 $0 0.00%
    DULUTH, MN-WI (FHA|USDA|VA) 1 $15,000 $15,000 $0 0.00%
    Dairy State Bank's top markets include Menomonie, Eau Claire, Minneapolis, and Duluth among others.

    Their top states include:
  • Wisconsin (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 219 $25,145,000 $114,817 $0 0.00%

    For 2018, Dairy State Bank's most frequently originated type of loan was Conventional, with 219 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 84 $12,380,000 $147,381 $0 0.00%
    Refi 64 $8,070,000 $126,094 $0 0.00%
    Cash Out Refi 43 $3,495,000 $81,279 $0 0.00%
    Home Improvement 15 $525,000 $35,000 $0 0.00%
    Other 13 $675,000 $51,923 $0 0.00%

    For 2018, Dairy State Bank's most frequently cited loan purpose was Home Purchase, with 84 originations. The 2nd most popular reason was Refi, with 64 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 219 $25,145,000 $114,817 $0 0.00%

    For 2018, Dairy State Bank's most frequently cited loan duration was Other, with 219 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 126 $6,530,000 $51,825 $0 0.00%
    $100k-200k 62 $8,500,000 $137,097 $0 0.00%
    $200k-400k 26 $6,990,000 $268,846 $0 0.00%
    $400k-600k 3 $1,575,000 $525,000 $0 0.00%
    $600k-1MM 2 $1,550,000 $775,000 $0 0.00%

    2018 saw Dairy State Bank place emphasis on $100,000 or less loans with 126 originations, totaling $6,530,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 61 $3,925,000 $64,344 $0 0.00%
    $50k-75k 50 $4,410,000 $88,200 $0 0.00%
    $75k-100k 29 $3,225,000 $111,207 $0 0.00%
    $100k-150k 24 $3,430,000 $142,917 $0 0.00%
    $150k-250k 23 $3,285,000 $142,826 $0 0.00%
    $250k+ 6 $1,370,000 $228,333 $0 0.00%

    Dairy State Bank lent most frequently to those with incomes in the $50k or less range, with 61 originations. The second most popular income band? $50k-75k, with 50 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 219 $25,145,000 $114,817 $0 0.00%

    Dairy State Bank lent most frequently to those with DTI ratios of Exempt%, with 219 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 187 $19,365,000 $103,556 $0 0.00%
    Not applicable 19 $4,675,000 $246,053 $0 0.00%
    Not provided 12 $940,000 $78,333 $0 0.00%
    Black 1 $165,000 $165,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    88.72%

    Dairy State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    92.24%

    Dairy State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 219 $25,145,000 $114,817

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $1,070,000 $535,000
    Single Family (1-4 Units):Manufactured 16 $1,000,000 $62,500
    Single Family (1-4 Units):Site-Built 201 $23,075,000 $114,801

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Dairy State Bank 100 Hepburn Street East Prairie Farm, WI 54762 Full Service B&M $22,422
    Dairy State Bank 100 S. Highway 25 Wheeler, WI 54772 Limited, Drive-thru $29
    Dairy State Bank 101 South Main Street Colfax, WI 54730 Full Service B&M $13,304
    Dairy State Bank 103 Third Street Haugen, WI 54841 Full Service B&M $5,994
    Dairy State Bank 124 N. Main Street Birchwood, WI 54817 Full Service B&M $29,087
    Dairy State Bank 1311 14th Ave Bloomer, WI 54724 Full Service B&M $6,760
    Dairy State Bank 1405 Second Avenue Cumberland, WI 54829 Full Service B&M $15,609
    Dairy State Bank 16 South Main Street Rice Lake, WI 54868 Full Service B&M $213,611
    Dairy State Bank 2405 Schneider Avenue Menomonie, WI 54751 Full Service B&M $76,356
    Dairy State Bank 600 Second Street Menomonie, WI 54751 Full Service B&M $2,057
    Dairy State Bank 640 Us Highway 8 Turtle Lake, WI 54889 Full Service B&M $46,197
    Dairy State Bank E 4491 County Road C Downsville, WI 54735 Full Service B&M $1,420

    For 2018, Dairy State Bank had 12 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $16,434
    Net interest income $13,103
    Total noninterest income $1,354
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $453
    Trading account gains and fees $0
    Additional Noninterest Income $901
    Pre-tax net operating income $5,043
    Securities gains (or losses, -) $-79
    Income before extraordinary items $4,054
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,054
    Minority interest net income $0
    Net income $4,054
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,118

    Dairy State Bank's gross interest income from loans was $16,434,000.
    Dairy State Bank's net interest income from loans was $13,103,000.
    Dairy State Bank's fee based income from loans was $453,000.
    Dairy State Bank's net income from loans was $4,054,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,331
    Provision for credit losses $-700
    Total noninterest expense $10,114
    Salaries and employee benefits $6,288
    Premises and equipment expense $983
    Additional noninterest expense $2,843
    Applicable income taxes $910
    Net charge-offs $-688
    Cash dividends $1,224

    Dairy State Bank's interest expense for loans was $3,331,000.
    Dairy State Bank's payroll and benefits expense were $6,288,000.
    Dairy State Bank's property, plant and equipment expenses $983,000.

    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 1.0%
    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 $414,612
    Deposits held in domestic offices $414,612
    Deposits by Individuals, partnerships, and corporations $366,271
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $48,342
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $147,954
    Demand deposits $72,611
    Nontransaction accounts $266,659
    Money market deposit accounts (MMDAs) $106,186
    Other savings deposits (excluding MMDAs) $51,031
    Total time deposits $109,442
    Total time and savings deposits $342,002
    Noninterest-bearing deposits $72,611
    Interest-bearing deposits $342,001
    Retail deposits $388,347
    IRAs and Keogh plan accounts $22,512
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $491,201
    Cash & Balances due from depository institutions $17,097
    Interest-bearing balances $6,150
    Total securities $221,482
    Federal funds sold & reverse repurchase $0
    Net loans and leases $237,787
    Loan and leases loss allowance $4,848
    Trading account assets $0
    Bank premises and fixed assets $4,564
    Other real estate owned $30
    Goodwill and other intangibles $712
    All other assets $9,529

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $491,201
    Total Liabilities $432,275
    Total deposits $414,612
    Interest-bearing deposits $342,001
    Deposits held in domestic offices $414,612
    % insured (estimated) $78
    Federal funds purchased and repurchase agreements $10,405
    Trading liabilities $0
    Other borrowed funds $5,000
    Subordinated debt $0
    All other liabilities $2,258

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $237,787
    Loan and leases loss allowance $4,848
    Total loans and leases (domestic) $242,635
    All real estate loans $159,542
    Real estate loans in domestic offices $159,542
    Construction and development loans $12,639
    Residential 1-4 family construction $5,243
    Other construction, all land development and other land $7,396
    Loans secured by nonfarm nonresidential properties $74,797
    Nonfarm nonresidential secured by owner-occupied properties $43,423
    Commercial real estate & other non-farm, non-residential $31,374
    Multifamily residential real estate $6,705
    1-4 family residential loans $52,390
    Farmland loans $13,011
    Loans held in foreign offices $0
    Farm loans $5,927
    Commercial and industrial loans $57,582
    To non-U.S. addressees $0
    Loans to individuals $5,015
    Credit card loans $227
    Related Plans $166
    Consumer Auto Loans $1,392
    Other loans to individuals $3,230
    All other loans & leases $14,569
    Loans to foreign governments and official institutions $0
    Other loans $31
    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 $3,296
    Non 1-4 family restructured loans & leases $3,296
    Total loans and leases (foreign) $0

    Dairy State Bank had $237,787,000 of loans outstanding in 2018. $159,542,000 of loans were in real estate loans. $12,639,000 of loans were in development loans. $6,705,000 of loans were in multifamily mortgage loans. $52,390,000 of loans were in 1-4 family mortgage loans. $5,927,000 of loans were in farm loans. $227,000 of loans were in credit card loans. $1,392,000 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 182 $29,095 $159,863
    Nonfarm, nonresidential loans - <$100k 71 $2,652 $37,352
    Nonfarm, nonresidential loans - $100-250k 61 $7,320 $120,000
    Nonfarm, nonresidential loans - $250k-1MM 50 $19,123 $382,460
    Commercial & Industrial, US addressed loans - <$1MM 244 $17,779 $72,865
    Commercial & Industrial, US addressed loans - <$100k 184 $8,273 $44,962
    Commercial & Industrial, US addressed loans - $100-250k 29 $2,849 $98,241
    Commercial & Industrial, US addressed loans - $250k-1MM 31 $6,657 $214,742
    Farmland loans - <$1MM 35 $3,483 $99,514
    Farmland loans - <$100k 14 $472 $33,714
    Farmland loans - $100-250k 18 $2,282 $126,778
    Farmland loans - $250k-1MM 3 $729 $243,000
    Agriculture operations loans - <$1MM 67 $3,508 $52,358
    Agriculture operations loans - <$100k 52 $1,357 $26,096
    Agriculture operations loans - $100-250k 11 $1,329 $120,818
    Agriculture operations loans - $250k-1MM 4 $822 $205,500