Dairy State Bank Mortgage Rates, Fees & Info

Rice Lake, WI

LEI: 2549006KT1XNB09W2M78

Tax ID: 39-0848078

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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 Refi and Home Purchase loans. Dairy State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Menomonie, Eau Claire, Minneapolis, Rochester, and Wausau among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Dairy State Bank has an above average approval rate when compared to the average across all lenders. They have a below 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.

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    Originations

    220

    Origination Dollar Volume (All Markets)

    $30,750,000

    Employee count

    101

    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 119 $15,415,000 $129,538 $0 0.00%
    Menomonie, WI (FHA|USDA|VA) 82 $12,580,000 $153,415 $0 0.00%
    EAU CLAIRE, WI (FHA|USDA|VA) 9 $1,325,000 $147,222 $0 0.00%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 8 $1,050,000 $131,250 $0 0.00%
    ROCHESTER, MN (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
    WAUSAU-WESTON, WI (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
    Dairy State Bank's top markets include Menomonie, Eau Claire, Minneapolis, Rochester, and Wausau 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 220 $30,750,000 $139,773 $0 0.00%

    For 2019, Dairy State Bank's most frequently originated type of loan was Conventional, with 220 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 94 $13,020,000 $138,511 $0 0.00%
    Home Purchase 76 $13,880,000 $182,632 $0 0.00%
    Other 19 $555,000 $29,211 $0 0.00%
    Cash Out Refi 17 $2,575,000 $151,471 $0 0.00%
    Home Improvement 14 $720,000 $51,429 $0 0.00%

    For 2019, Dairy State Bank's most frequently cited loan purpose was Refi, with 94 originations. The 2nd most popular reason was Home Purchase, with 76 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 220 $30,750,000 $139,773 $0 0.00%

    For 2019, Dairy State Bank's most frequently cited loan duration was Other, with 220 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 99 $4,785,000 $48,333 $0 0.00%
    $100k-200k 73 $10,715,000 $146,781 $0 0.00%
    $200k-400k 45 $12,315,000 $273,667 $0 0.00%
    $1MM+ 2 $2,250,000 $1,125,000 $0 0.00%
    $600k-1MM 1 $685,000 $685,000 $0 0.00%

    2019 saw Dairy State Bank place emphasis on $100,000 or less loans with 99 originations, totaling $4,785,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 49 $3,505,000 $71,531 $0 0.00%
    $50k-75k 46 $4,880,000 $106,087 $0 0.00%
    $100k-150k 39 $7,885,000 $202,179 $0 0.00%
    $75k-100k 39 $4,615,000 $118,333 $0 0.00%
    $150k-250k 22 $3,140,000 $142,727 $0 0.00%
    $250k+ 5 $1,705,000 $341,000 $0 0.00%

    Dairy State Bank lent most frequently to those with incomes in the $50k or less range, with 49 originations. The second most popular income band? $50k-75k, with 46 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 220 $30,750,000 $139,773 $0 0.00%

    Dairy State Bank lent most frequently to those with DTI ratios of Exempt%, with 220 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 197 $25,605,000 $129,975 $0 0.00%
    Not applicable 12 $3,520,000 $293,333 $0 0.00%
    Not provided 7 $885,000 $126,429 $0 0.00%
    Black 1 $345,000 $345,000 $0 0.00%
    Asian 2 $340,000 $170,000 $0 0.00%
    American Indian 1 $55,000 $55,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    90.25%

    Dairy State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.82%

    Dairy State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 220 $30,750,000 $139,773

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $2,250,000 $1,125,000
    Single Family (1-4 Units):Manufactured 15 $795,000 $53,000
    Single Family (1-4 Units):Site-Built 203 $27,705,000 $136,478

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Dorough & Dorough, LLC Other type of mortgage Closing on a mortgage 1 100.0%

    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 $24,203
    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 $12,983
    Dairy State Bank 103 Third Street Haugen, WI 54841 Full Service B&M $5,932
    Dairy State Bank 124 N. Main Street Birchwood, WI 54817 Full Service B&M $28,509
    Dairy State Bank 1311 14th Ave Bloomer, WI 54724 Full Service B&M $10,389
    Dairy State Bank 1405 Second Avenue Cumberland, WI 54829 Full Service B&M $15,168
    Dairy State Bank 16 South Main Street Rice Lake, WI 54868 Full Service B&M $181,377
    Dairy State Bank 2405 Schneider Avenue Menomonie, WI 54751 Full Service B&M $73,422
    Dairy State Bank 600 Second Street Menomonie, WI 54751 Full Service B&M $2,352
    Dairy State Bank 640 Us Highway 8 Turtle Lake, WI 54889 Full Service B&M $45,133
    Dairy State Bank E 4491 County Road C Downsville, WI 54735 Full Service B&M $2,046

    For 2019, Dairy State Bank had 12 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $17,273
    Net interest income $12,796
    Total noninterest income $1,476
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $456
    Trading account gains and fees $0
    Additional Noninterest Income $1,020
    Pre-tax net operating income $4,047
    Securities gains (or losses, -) $1,476
    Income before extraordinary items $4,343
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,343
    Minority interest net income $0
    Net income $4,343
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,176

    Dairy State Bank's gross interest income from loans was $17,273,000.
    Dairy State Bank's net interest income from loans was $12,796,000.
    Dairy State Bank's fee based income from loans was $456,000.
    Dairy State Bank's net income from loans was $4,343,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,477
    Provision for credit losses $0
    Total noninterest expense $10,225
    Salaries and employee benefits $6,368
    Premises and equipment expense $1,083
    Additional noninterest expense $2,774
    Applicable income taxes $1,180
    Net charge-offs $17
    Cash dividends $918

    Dairy State Bank's interest expense for loans was $4,477,000.
    Dairy State Bank's payroll and benefits expense were $6,368,000.
    Dairy State Bank's property, plant and equipment expenses $1,083,000.

    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 $432,287
    Deposits held in domestic offices $432,287
    Deposits by Individuals, partnerships, and corporations $376,809
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $55,478
    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 $154,931
    Demand deposits $67,851
    Nontransaction accounts $277,356
    Money market deposit accounts (MMDAs) $118,847
    Other savings deposits (excluding MMDAs) $52,441
    Total time deposits $106,067
    Total time and savings deposits $364,436
    Noninterest-bearing deposits $67,851
    Interest-bearing deposits $364,436
    Retail deposits $414,030
    IRAs and Keogh plan accounts $22,824
    Brokered deposits $2,977
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $517,184
    Cash & Balances due from depository institutions $22,490
    Interest-bearing balances $11,530
    Total securities $246,026
    Federal funds sold & reverse repurchase $3,404
    Net loans and leases $230,479
    Loan and leases loss allowance $4,831
    Trading account assets $0
    Bank premises and fixed assets $5,934
    Other real estate owned $0
    Goodwill and other intangibles $574
    All other assets $8,277

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $517,184
    Total Liabilities $451,544
    Total deposits $432,287
    Interest-bearing deposits $364,436
    Deposits held in domestic offices $432,287
    % insured (estimated) $78
    Federal funds purchased and repurchase agreements $9,120
    Trading liabilities $0
    Other borrowed funds $7,600
    Subordinated debt $0
    All other liabilities $2,537

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $230,479
    Loan and leases loss allowance $4,831
    Total loans and leases (domestic) $235,310
    All real estate loans $156,636
    Real estate loans in domestic offices $156,636
    Construction and development loans $13,579
    Residential 1-4 family construction $4,511
    Other construction, all land development and other land $9,068
    Loans secured by nonfarm nonresidential properties $76,969
    Nonfarm nonresidential secured by owner-occupied properties $35,331
    Commercial real estate & other non-farm, non-residential $41,638
    Multifamily residential real estate $5,770
    1-4 family residential loans $48,717
    Farmland loans $11,601
    Loans held in foreign offices $0
    Farm loans $6,601
    Commercial and industrial loans $54,076
    To non-U.S. addressees $0
    Loans to individuals $5,043
    Credit card loans $220
    Related Plans $149
    Consumer Auto Loans $1,421
    Other loans to individuals $3,253
    All other loans & leases $12,954
    Loans to foreign governments and official institutions $0
    Other loans $21
    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 $2,959
    Non 1-4 family restructured loans & leases $2,959
    Total loans and leases (foreign) $0

    Dairy State Bank had $230,479,000 of loans outstanding in 2019. $156,636,000 of loans were in real estate loans. $13,579,000 of loans were in development loans. $5,770,000 of loans were in multifamily mortgage loans. $48,717,000 of loans were in 1-4 family mortgage loans. $6,601,000 of loans were in farm loans. $220,000 of loans were in credit card loans. $1,421,000 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 181 $30,134 $166,486
    Nonfarm, nonresidential loans - <$100k 68 $3,135 $46,103
    Nonfarm, nonresidential loans - $100-250k 60 $7,476 $124,600
    Nonfarm, nonresidential loans - $250k-1MM 53 $19,523 $368,358
    Commercial & Industrial, US addressed loans - <$1MM 256 $20,045 $78,301
    Commercial & Industrial, US addressed loans - <$100k 185 $4,419 $23,886
    Commercial & Industrial, US addressed loans - $100-250k 34 $3,851 $113,265
    Commercial & Industrial, US addressed loans - $250k-1MM 37 $11,775 $318,243
    Farmland loans - <$1MM 37 $3,633 $98,189
    Farmland loans - <$100k 14 $550 $39,286
    Farmland loans - $100-250k 19 $2,119 $111,526
    Farmland loans - $250k-1MM 4 $964 $241,000
    Agriculture operations loans - <$1MM 76 $3,983 $52,408
    Agriculture operations loans - <$100k 61 $1,815 $29,754
    Agriculture operations loans - $100-250k 13 $1,800 $138,462
    Agriculture operations loans - $250k-1MM 2 $368 $184,000