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, Home Purchase, and Cash Out Refi loans. Dairy State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Menomonie, Eau Claire, Minneapolis, Hutchinson, and Janesville among others. We have data for 8 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

    354

    Origination Dollar Volume (All Markets)

    $55,710,000

    Employee count

    103

    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 191 $25,705,000 $134,581 $0 0.00%
    Menomonie, WI (FHA|USDA|VA) 109 $19,465,000 $178,578 $0 0.00%
    EAU CLAIRE, WI (FHA|USDA|VA) 31 $5,255,000 $169,516 $0 0.00%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 18 $3,560,000 $197,778 $0 0.00%
    Hutchinson, MN (FHA|USDA|VA) 1 $765,000 $765,000 $0 0.00%
    JANESVILLE-BELOIT, WI (FHA|USDA|VA) 1 $555,000 $555,000 $0 0.00%
    Whitewater, WI (FHA|USDA|VA) 1 $335,000 $335,000 $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, Hutchinson, and Janesville 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 354 $55,710,000 $157,373 $0 0.00%

    For 2021, Dairy State Bank's most frequently originated type of loan was Conventional, with 354 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 159 $24,715,000 $155,440 $0 0.00%
    Home Purchase 94 $16,040,000 $170,638 $0 0.00%
    Cash Out Refi 76 $13,650,000 $179,605 $0 0.00%
    Other 15 $905,000 $60,333 $0 0.00%
    Home Improvement 10 $400,000 $40,000 $0 0.00%

    For 2021, Dairy State Bank's most frequently cited loan purpose was Refi, with 159 originations. The 2nd most popular reason was Home Purchase, with 94 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 354 $55,710,000 $157,373 $0 0.00%

    For 2021, Dairy State Bank's most frequently cited loan duration was Other, with 354 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 155 $22,155,000 $142,935 $0 0.00%
    $100,000 or less 108 $6,820,000 $63,148 $0 0.00%
    $200k-400k 80 $21,150,000 $264,375 $0 0.00%
    $400k-600k 10 $4,820,000 $482,000 $0 0.00%
    $600k-1MM 1 $765,000 $765,000 $0 0.00%

    2021 saw Dairy State Bank place emphasis on $100k-200k loans with 155 originations, totaling $22,155,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 96 $13,050,000 $135,938 $0 0.00%
    $75k-100k 72 $10,630,000 $147,639 $0 0.00%
    $100k-150k 68 $12,630,000 $185,735 $0 0.00%
    $50k or less 67 $6,935,000 $103,507 $0 0.00%
    $150k-250k 23 $5,365,000 $233,261 $0 0.00%
    $250k+ 10 $3,630,000 $363,000 $0 0.00%

    Dairy State Bank lent most frequently to those with incomes in the $50k-75k range, with 96 originations. The second most popular income band? $75k-100k, with 72 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 354 $55,710,000 $157,373 $0 0.00%

    Dairy State Bank lent most frequently to those with DTI ratios of Exempt%, with 354 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 321 $48,965,000 $152,539 $0 0.00%
    Not provided 14 $2,800,000 $200,000 $0 0.00%
    Not applicable 12 $2,800,000 $233,333 $0 0.00%
    Asian 4 $580,000 $145,000 $0 0.00%
    American Indian 3 $565,000 $188,333 $0 0.00%

    Approval Rates

    Total approvals of all applications
    90.24%

    Dairy State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.75%

    Dairy State Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 354 $55,710,000 $157,373

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    354 $55,710,000 $157,373

    Complaints

    Bank Name Product Issue 2021 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 $29,960
    Dairy State Bank 100 S. Highway 25 Wheeler, WI 54772 Limited, Drive-thru $15
    Dairy State Bank 101 South Main Street Colfax, WI 54730 Full Service B&M $24,828
    Dairy State Bank 103 Third Street Haugen, WI 54841 Full Service B&M $6,054
    Dairy State Bank 124 N. Main Street Birchwood, WI 54817 Full Service B&M $37,620
    Dairy State Bank 1311 14th Ave Bloomer, WI 54724 Full Service B&M $22,784
    Dairy State Bank 1405 Second Avenue Cumberland, WI 54829 Full Service B&M $26,037
    Dairy State Bank 16 South Main Street Rice Lake, WI 54868 Full Service B&M $272,291
    Dairy State Bank 2405 Schneider Avenue Menomonie, WI 54751 Full Service B&M $101,490
    Dairy State Bank 600 Second Street Menomonie, WI 54751 Full Service B&M $3,091
    Dairy State Bank 640 Us Highway 8 Turtle Lake, WI 54889 Full Service B&M $60,147
    Dairy State Bank E 4491 County Road C Downsville, WI 54735 Full Service B&M $2,490

    For 2021, Dairy State Bank had 12 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $17,548
    Net interest income $15,301
    Total noninterest income $1,958
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $353
    Trading account gains and fees $0
    Additional Noninterest Income $1,605
    Pre-tax net operating income $7,716
    Securities gains (or losses, -) $58
    Income before extraordinary items $5,993
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,993
    Minority interest net income $0
    Net income $5,993
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $5,947

    Dairy State Bank's gross interest income from loans was $17,548,000.
    Dairy State Bank's net interest income from loans was $15,301,000.
    Dairy State Bank's fee based income from loans was $353,000.
    Dairy State Bank's net income from loans was $5,993,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,247
    Provision for credit losses $-1,400
    Total noninterest expense $10,943
    Salaries and employee benefits $6,791
    Premises and equipment expense $1,171
    Additional noninterest expense $2,981
    Applicable income taxes $1,781
    Net charge-offs $-1,474
    Cash dividends $0

    Dairy State Bank's interest expense for loans was $2,247,000.
    Dairy State Bank's payroll and benefits expense were $6,791,000.
    Dairy State Bank's property, plant and equipment expenses $1,171,000.

    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 $636,607
    Deposits held in domestic offices $636,607
    Deposits by Individuals, partnerships, and corporations $561,888
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $74,719
    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 $247,608
    Demand deposits $122,857
    Nontransaction accounts $388,999
    Money market deposit accounts (MMDAs) $201,794
    Other savings deposits (excluding MMDAs) $79,448
    Total time deposits $107,757
    Total time and savings deposits $513,750
    Noninterest-bearing deposits $122,857
    Interest-bearing deposits $513,750
    Retail deposits $618,631
    IRAs and Keogh plan accounts $23,067
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $743,791
    Cash & Balances due from depository institutions $27,519
    Interest-bearing balances $18,679
    Total securities $475,850
    Federal funds sold & reverse repurchase $1,589
    Net loans and leases $220,901
    Loan and leases loss allowance $4,782
    Trading account assets $0
    Bank premises and fixed assets $6,391
    Other real estate owned $0
    Goodwill and other intangibles $299
    All other assets $11,242

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $743,791
    Total Liabilities $666,684
    Total deposits $636,607
    Interest-bearing deposits $513,750
    Deposits held in domestic offices $636,607
    % insured (estimated) $71
    Federal funds purchased and repurchase agreements $12,008
    Trading liabilities $0
    Other borrowed funds $15,600
    Subordinated debt $0
    All other liabilities $2,469

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $220,901
    Loan and leases loss allowance $4,782
    Total loans and leases (domestic) $225,683
    All real estate loans $164,225
    Real estate loans in domestic offices $164,225
    Construction and development loans $21,810
    Residential 1-4 family construction $3,348
    Other construction, all land development and other land $18,462
    Loans secured by nonfarm nonresidential properties $76,910
    Nonfarm nonresidential secured by owner-occupied properties $29,057
    Commercial real estate & other non-farm, non-residential $47,853
    Multifamily residential real estate $21,292
    1-4 family residential loans $38,312
    Farmland loans $5,901
    Loans held in foreign offices $0
    Farm loans $5,067
    Commercial and industrial loans $34,529
    To non-U.S. addressees $0
    Loans to individuals $4,404
    Credit card loans $202
    Related Plans $95
    Consumer Auto Loans $1,149
    Other loans to individuals $2,958
    All other loans & leases $17,458
    Loans to foreign governments and official institutions $0
    Other loans $53
    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 $202
    Non 1-4 family restructured loans & leases $202
    Total loans and leases (foreign) $0

    Dairy State Bank had $220,901,000 of loans outstanding in 2021. $164,225,000 of loans were in real estate loans. $21,810,000 of loans were in development loans. $21,292,000 of loans were in multifamily mortgage loans. $38,312,000 of loans were in 1-4 family mortgage loans. $5,067,000 of loans were in farm loans. $202,000 of loans were in credit card loans. $1,149,000 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 143 $30,112 $210,573
    Nonfarm, nonresidential loans - <$100k 44 $4,245 $96,477
    Nonfarm, nonresidential loans - $100-250k 49 $5,832 $119,020
    Nonfarm, nonresidential loans - $250k-1MM 50 $20,035 $400,700
    Commercial & Industrial, US addressed loans - <$1MM 208 $16,540 $79,519
    Commercial & Industrial, US addressed loans - <$100k 149 $4,017 $26,960
    Commercial & Industrial, US addressed loans - $100-250k 34 $3,901 $114,735
    Commercial & Industrial, US addressed loans - $250k-1MM 25 $8,622 $344,880
    Farmland loans - <$1MM 33 $3,253 $98,576
    Farmland loans - <$100k 10 $431 $43,100
    Farmland loans - $100-250k 21 $2,313 $110,143
    Farmland loans - $250k-1MM 2 $509 $254,500
    Agriculture operations loans - <$1MM 76 $3,955 $52,039
    Agriculture operations loans - <$100k 59 $1,671 $28,322
    Agriculture operations loans - $100-250k 15 $1,859 $123,933
    Agriculture operations loans - $250k-1MM 2 $425 $212,500