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, Cash Out 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, La Crosse, and Rochester among others. We have data for 10 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

    489

    Origination Dollar Volume (All Markets)

    $79,855,000

    Employee count

    94

    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 242 $37,700,000 $155,785 $0 0.00%
    Menomonie, WI (FHA|USDA|VA) 159 $27,035,000 $170,031 $0 0.00%
    EAU CLAIRE, WI (FHA|USDA|VA) 48 $7,630,000 $158,958 $0 0.00%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 32 $6,370,000 $199,063 $0 0.00%
    LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 1 $285,000 $285,000 $0 0.00%
    ROCHESTER, MN (FHA|USDA|VA) 1 $275,000 $275,000 $0 0.00%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
    WAUSAU-WESTON, WI (FHA|USDA|VA) 2 $130,000 $65,000 $0 0.00%
    GREEN BAY, WI (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
    DULUTH, MN-WI (FHA|USDA|VA) 2 $70,000 $35,000 $0 0.00%
    Dairy State Bank's top markets include Menomonie, Eau Claire, Minneapolis, La Crosse, and Rochester 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 489 $79,855,000 $163,303 $0 0.00%

    For 2020, Dairy State Bank's most frequently originated type of loan was Conventional, with 489 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 233 $36,885,000 $158,305 $0 0.00%
    Cash Out Refi 137 $25,375,000 $185,219 $0 0.00%
    Home Purchase 95 $16,105,000 $169,526 $0 0.00%
    Other 18 $1,230,000 $68,333 $0 0.00%
    Home Improvement 6 $260,000 $43,333 $0 0.00%

    For 2020, Dairy State Bank's most frequently cited loan purpose was Refi, with 233 originations. The 2nd most popular reason was Cash Out Refi, with 137 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 489 $79,855,000 $163,303 $0 0.00%

    For 2020, Dairy State Bank's most frequently cited loan duration was Other, with 489 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 232 $34,210,000 $147,457 $0 0.00%
    $200k-400k 129 $33,815,000 $262,132 $0 0.00%
    $100,000 or less 120 $7,800,000 $65,000 $0 0.00%
    $400k-600k 7 $3,245,000 $463,571 $0 0.00%
    $600k-1MM 1 $785,000 $785,000 $0 0.00%

    2020 saw Dairy State Bank place emphasis on $100k-200k loans with 232 originations, totaling $34,210,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 125 $23,885,000 $191,080 $0 0.00%
    $50k-75k 109 $14,885,000 $136,560 $0 0.00%
    $50k or less 84 $8,320,000 $99,048 $0 0.00%
    $75k-100k 74 $11,610,000 $156,892 $0 0.00%
    $150k-250k 50 $12,870,000 $257,400 $0 0.00%
    $250k+ 10 $2,820,000 $282,000 $0 0.00%

    Dairy State Bank lent most frequently to those with incomes in the $100k-150k range, with 125 originations. The second most popular income band? $50k-75k, with 109 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 489 $79,855,000 $163,303 $0 0.00%

    Dairy State Bank lent most frequently to those with DTI ratios of Exempt%, with 489 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 456 $74,850,000 $164,145 $0 0.00%
    Not provided 18 $2,700,000 $150,000 $0 0.00%
    Not applicable 13 $1,915,000 $147,308 $0 0.00%
    Asian 2 $390,000 $195,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    90.73%

    Dairy State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    88.96%

    Dairy State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 489 $79,855,000 $163,303

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $380,000 $190,000
    Single Family (1-4 Units):Manufactured 15 $1,065,000 $71,000
    Single Family (1-4 Units):Site-Built 472 $78,410,000 $166,123

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    DIRECT LENDERS LLC Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing 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 $26,875
    Dairy State Bank 100 S. Highway 25 Wheeler, WI 54772 Limited, Drive-thru $16
    Dairy State Bank 101 South Main Street Colfax, WI 54730 Full Service B&M $22,128
    Dairy State Bank 103 Third Street Haugen, WI 54841 Full Service B&M $6,036
    Dairy State Bank 124 N. Main Street Birchwood, WI 54817 Full Service B&M $33,467
    Dairy State Bank 1311 14th Ave Bloomer, WI 54724 Full Service B&M $17,585
    Dairy State Bank 1405 Second Avenue Cumberland, WI 54829 Full Service B&M $21,331
    Dairy State Bank 16 South Main Street Rice Lake, WI 54868 Full Service B&M $216,225
    Dairy State Bank 2405 Schneider Avenue Menomonie, WI 54751 Full Service B&M $86,856
    Dairy State Bank 600 Second Street Menomonie, WI 54751 Full Service B&M $2,670
    Dairy State Bank 640 Us Highway 8 Turtle Lake, WI 54889 Full Service B&M $56,058
    Dairy State Bank E 4491 County Road C Downsville, WI 54735 Full Service B&M $1,852

    For 2020, Dairy State Bank had 12 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $17,630
    Net interest income $14,173
    Total noninterest income $2,289
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $369
    Trading account gains and fees $0
    Additional Noninterest Income $1,920
    Pre-tax net operating income $5,883
    Securities gains (or losses, -) $101
    Income before extraordinary items $4,649
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,649
    Minority interest net income $0
    Net income $4,649
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,569

    Dairy State Bank's gross interest income from loans was $17,630,000.
    Dairy State Bank's net interest income from loans was $14,173,000.
    Dairy State Bank's fee based income from loans was $369,000.
    Dairy State Bank's net income from loans was $4,649,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,457
    Provision for credit losses $400
    Total noninterest expense $10,179
    Salaries and employee benefits $6,485
    Premises and equipment expense $1,080
    Additional noninterest expense $2,614
    Applicable income taxes $1,335
    Net charge-offs $523
    Cash dividends $0

    Dairy State Bank's interest expense for loans was $3,457,000.
    Dairy State Bank's payroll and benefits expense were $6,485,000.
    Dairy State Bank's property, plant and equipment expenses $1,080,000.

    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 $518,345
    Deposits held in domestic offices $518,345
    Deposits by Individuals, partnerships, and corporations $454,043
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $64,302
    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 $199,842
    Demand deposits $96,239
    Nontransaction accounts $318,503
    Money market deposit accounts (MMDAs) $146,002
    Other savings deposits (excluding MMDAs) $64,836
    Total time deposits $107,665
    Total time and savings deposits $422,106
    Noninterest-bearing deposits $96,268
    Interest-bearing deposits $422,077
    Retail deposits $500,734
    IRAs and Keogh plan accounts $23,251
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $628,992
    Cash & Balances due from depository institutions $18,918
    Interest-bearing balances $11,595
    Total securities $353,134
    Federal funds sold & reverse repurchase $655
    Net loans and leases $239,258
    Loan and leases loss allowance $4,708
    Trading account assets $0
    Bank premises and fixed assets $6,809
    Other real estate owned $0
    Goodwill and other intangibles $436
    All other assets $9,782

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $628,992
    Total Liabilities $550,836
    Total deposits $518,345
    Interest-bearing deposits $422,077
    Deposits held in domestic offices $518,345
    % insured (estimated) $77
    Federal funds purchased and repurchase agreements $8,173
    Trading liabilities $0
    Other borrowed funds $18,600
    Subordinated debt $0
    All other liabilities $5,718

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $239,258
    Loan and leases loss allowance $4,708
    Total loans and leases (domestic) $243,966
    All real estate loans $159,205
    Real estate loans in domestic offices $159,205
    Construction and development loans $17,731
    Residential 1-4 family construction $5,389
    Other construction, all land development and other land $12,342
    Loans secured by nonfarm nonresidential properties $83,278
    Nonfarm nonresidential secured by owner-occupied properties $33,117
    Commercial real estate & other non-farm, non-residential $50,161
    Multifamily residential real estate $5,888
    1-4 family residential loans $41,515
    Farmland loans $10,793
    Loans held in foreign offices $0
    Farm loans $6,695
    Commercial and industrial loans $60,252
    To non-U.S. addressees $0
    Loans to individuals $4,472
    Credit card loans $158
    Related Plans $123
    Consumer Auto Loans $1,165
    Other loans to individuals $3,026
    All other loans & leases $13,342
    Loans to foreign governments and official institutions $0
    Other loans $10
    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 $2,860
    Non 1-4 family restructured loans & leases $2,860
    Total loans and leases (foreign) $0

    Dairy State Bank had $239,258,000 of loans outstanding in 2020. $159,205,000 of loans were in real estate loans. $17,731,000 of loans were in development loans. $5,888,000 of loans were in multifamily mortgage loans. $41,515,000 of loans were in 1-4 family mortgage loans. $6,695,000 of loans were in farm loans. $158,000 of loans were in credit card loans. $1,165,000 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 172 $32,283 $187,692
    Nonfarm, nonresidential loans - <$100k 56 $2,178 $38,893
    Nonfarm, nonresidential loans - $100-250k 56 $6,850 $122,321
    Nonfarm, nonresidential loans - $250k-1MM 60 $23,255 $387,583
    Commercial & Industrial, US addressed loans - <$1MM 224 $16,567 $73,960
    Commercial & Industrial, US addressed loans - <$100k 165 $4,425 $26,818
    Commercial & Industrial, US addressed loans - $100-250k 29 $3,171 $109,345
    Commercial & Industrial, US addressed loans - $250k-1MM 30 $8,971 $299,033
    Farmland loans - <$1MM 31 $3,115 $100,484
    Farmland loans - <$100k 12 $521 $43,417
    Farmland loans - $100-250k 16 $1,786 $111,625
    Farmland loans - $250k-1MM 3 $808 $269,333
    Agriculture operations loans - <$1MM 77 $4,231 $54,948
    Agriculture operations loans - <$100k 58 $1,720 $29,655
    Agriculture operations loans - $100-250k 17 $2,198 $129,294
    Agriculture operations loans - $250k-1MM 2 $313 $156,500