Bank Of Milton Mortgage Rates, Fees & Info

Milton, WI

LEI: 254900FYMABY3EPG2K50

Tax ID: 39-0147920

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

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Mortgage Data

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

    Bank Of Milton is a smaller bank specializing in Home Purchase and Refi loans. Bank Of Milton has a high proportion of conventional loans. Bank Of Milton has an average proportion of conventional loans. Their top markets by origination volume include: Janesville, Watertown, Madison, and Shawano among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Bank Of Milton 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. Bank Of Milton 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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    Originations

    112

    Origination Dollar Volume (All Markets)

    $13,870,000

    Employee count

    21

    Awards

    Bank of Milton 30 Year Conventional Loans gold Bank of Milton 30 Year Conventional Loans gold Bank of Milton 30 Year Conventional Loans gold Bank of Milton 30 Year Conventional Loans silver
    Show all (4) 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
    JANESVILLE-BELOIT, WI (FHA|USDA|VA) 101 $12,545,000 $124,208 $1,026 5.05%
    Watertown-Fort Atkinson, WI (FHA|USDA|VA) 5 $625,000 $125,000 $1,177 4.63%
    MADISON, WI (FHA|USDA|VA) 3 $505,000 $168,333 $665 4.63%
    Outside of Metro Areas 2 $120,000 $60,000 $1,155 4.63%
    Shawano, WI (FHA|USDA|VA) 1 $75,000 $75,000 $1,115 4.00%
    Bank Of Milton's top markets include Janesville, Watertown, Madison, and Shawano among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Bank of Milton based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Bank of Milton
    Similarity Rank: 25
    First Community Credit Union
    Similarity Rank: 63
    The First National Bank and Trust Company
    Similarity Rank: 272
    EDUCATORS CREDIT UNION
    Similarity Rank: 306
    Blackhawk Community Credit Union
    Similarity Rank: 350
    Summit Credit Union
    Similarity Rank: 481
    University of Wisconsin Credit Union
    Similarity Rank: 567
    Blackhawk Bank
    Similarity Rank: 580
    Johnson Bank
    Similarity Rank: 1536
    THOMPSON KANE & COMPANY, LLC
    Similarity Rank: 1672

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 84 $10,310,000 $122,738 $1,029 4.99%
    Conventional 28 $3,560,000 $127,143 $0 0.00%

    For 2018, Bank Of Milton's most frequently originated type of loan was Conventional, with 84 originations. Their 2nd most popular type was Conventional, with 28 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 59 $8,435,000 $142,966 $1,270 5.01%
    Refi 43 $4,795,000 $111,512 $753 5.02%
    Other 6 $220,000 $36,667 $347 4.75%
    Home Improvement 4 $420,000 $105,000 $754 4.63%

    For 2018, Bank Of Milton's most frequently cited loan purpose was Home Purchase, with 59 originations. The 2nd most popular reason was Refi, with 43 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 69 $6,645,000 $96,304 $768 5.38%
    30 Year 20 $4,220,000 $211,000 $1,449 4.38%
    3 Year 11 $1,445,000 $131,364 $8 5.24%
    15 Year 4 $410,000 $102,500 $1,321 3.88%
    20 Year 4 $790,000 $197,500 $1,507 4.16%
    5 Year 4 $360,000 $90,000 $0 5.38%

    For 2018, Bank Of Milton's most frequently cited loan duration was Other, with 69 originations. The 2nd most popular length was 30 Year, with 20 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 69 $8,465,000 $122,681

    Bank Of Milton's average total fees were $1,449, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 69 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 48 $6,230,000 $129,792
    5-6% 20 $2,400,000 $120,000
    3-4% 9 $1,395,000 $155,000
    7-8% 7 $285,000 $40,714

    During 2018, Bank Of Milton's average interest rate for loans was 4.38%, while their most frequently originated rate bucket for loans was 4-5%, with 48 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 49 $2,435,000 $49,694 $620 5.40%
    $100k-200k 44 $6,240,000 $141,818 $1,378 4.68%
    $200k-400k 18 $4,740,000 $263,333 $1,292 4.54%
    $400k-600k 1 $455,000 $455,000 $893 4.50%

    2018 saw Bank Of Milton place emphasis on $100,000 or less loans with 49 originations, totaling $2,435,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 30 $3,240,000 $108,000 $1,104 5.10%
    $50k or less 22 $1,820,000 $82,727 $1,219 4.93%
    $100k-150k 21 $3,305,000 $157,381 $1,108 5.09%
    $50k-75k 21 $2,755,000 $131,190 $806 4.78%
    $150k-250k 3 $655,000 $218,333 $577 4.50%
    $250k+ 3 $905,000 $301,667 $640 4.50%

    Bank Of Milton lent most frequently to those with incomes in the $75k-100k range, with 30 originations. The second most popular income band? $50k or less, with 22 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 28 $3,560,000 $127,143 $0 0.00%
    20-30% 21 $2,795,000 $133,095 $986 4.64%
    30-36% 16 $1,830,000 $114,375 $1,126 4.89%
    <20% 6 $800,000 $133,333 $1,219 4.71%
    37% 5 $675,000 $135,000 $1,155 5.05%
    38% 4 $710,000 $177,500 $681 5.31%
    48% 3 $235,000 $78,333 $958 5.50%
    42% 3 $215,000 $71,667 $959 4.46%
    50-60% 3 $375,000 $125,000 $1,467 5.50%
    49% 3 $255,000 $85,000 $1,395 5.33%
    46% 3 $485,000 $161,667 $879 4.29%
    36% 2 $360,000 $180,000 $1,167 4.56%
    40% 2 $150,000 $75,000 $675 4.50%
    43% 2 $110,000 $55,000 $1,022 6.50%
    44% 2 $210,000 $105,000 $590 5.50%
    45% 2 $160,000 $80,000 $1,014 6.75%
    41% 1 $205,000 $205,000 $840 4.50%

    Bank Of Milton lent most frequently to those with DTI ratios of Exempt%, with 28 originations. The next most common DTI ratio? 20-30%, with 21 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 95 $12,305,000 $129,526 $1,018 4.87%
    Not applicable 11 $1,165,000 $105,909 $0 5.58%
    Not provided 6 $400,000 $66,667 $1,165 6.00%

    Approval Rates

    Total approvals of all applications
    95.24%

    Bank Of Milton 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
    92.86%

    Bank Of Milton has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 28 $3,560,000 $127,143
    NA 84 $10,310,000 $122,738

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $375,000 $375,000
    Single Family (1-4 Units):Manufactured 8 $360,000 $45,000
    Single Family (1-4 Units):Site-Built 103 $13,135,000 $127,524

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 7 $565,000 $80,714 $725 5.07%
    40-60% 6 $860,000 $143,333 $1,248 4.77%
    60-80% 38 $6,120,000 $161,053 $1,268 4.88%
    80-100% 21 $2,365,000 $112,619 $1,256 5.46%
    Over 100% 1 $105,000 $105,000 $0 5.50%
    Under 20% 11 $295,000 $26,818 $139 4.50%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    BANK OF THE WEST Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 4 14.8%
    BANK OF THE WEST VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 3.7%
    BANK OF THE WEST Other type of mortgage Trouble during payment process 3 11.1%
    BANK OF THE WEST Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 3.7%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Trouble during payment process 5 18.5%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 3.7%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Incorrect information on your report 2 7.4%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Closing on a mortgage 1 3.7%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 4 14.8%
    BANK OF THE WEST FHA mortgage Closing on a mortgage 1 3.7%
    BANK OF THE WEST Conventional home mortgage Trouble during payment process 1 3.7%
    BANK OF THE WEST Conventional home mortgage Struggling to pay mortgage 1 3.7%
    BANK OF THE WEST Conventional home mortgage Closing on a mortgage 2 7.4%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Bank of Milton 102 North Main Street Edgerton, WI 53534 Full Service B&M $18,967
    Bank of Milton 323 Parkview Drive Milton, WI 53563 Full Service B&M $85,476

    For 2018, Bank Of Milton had 2 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $4,858
    Net interest income $4,361
    Total noninterest income $601
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $79
    Trading account gains and fees $0
    Additional Noninterest Income $522
    Pre-tax net operating income $1,904
    Securities gains (or losses, -) $-374
    Income before extraordinary items $1,526
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,526
    Minority interest net income $0
    Net income $1,526
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,900

    Bank Of Milton's gross interest income from loans was $4,858,000.
    Bank Of Milton's net interest income from loans was $4,361,000.
    Bank Of Milton's fee based income from loans was $79,000.
    Bank Of Milton's net income from loans was $1,526,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $497
    Provision for credit losses $90
    Total noninterest expense $2,968
    Salaries and employee benefits $1,799
    Premises and equipment expense $467
    Additional noninterest expense $702
    Applicable income taxes $4
    Net charge-offs $-15
    Cash dividends $911

    Bank Of Milton's interest expense for loans was $497,000.
    Bank Of Milton's payroll and benefits expense were $1,799,000.
    Bank Of Milton's property, plant and equipment expenses $467,000.

    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 1.0%
    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 $106,877
    Deposits held in domestic offices $106,877
    Deposits by Individuals, partnerships, and corporations $97,839
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $8,936
    Deposits by Commercial banks and other depository institutions in U.S. $101
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $37,237
    Demand deposits $18,942
    Nontransaction accounts $69,639
    Money market deposit accounts (MMDAs) $17,059
    Other savings deposits (excluding MMDAs) $21,937
    Total time deposits $30,643
    Total time and savings deposits $87,934
    Noninterest-bearing deposits $18,942
    Interest-bearing deposits $87,935
    Retail deposits $98,071
    IRAs and Keogh plan accounts $3,544
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $117,648
    Cash & Balances due from depository institutions $11,766
    Interest-bearing balances $8,431
    Total securities $18,233
    Federal funds sold & reverse repurchase $0
    Net loans and leases $85,955
    Loan and leases loss allowance $1,314
    Trading account assets $0
    Bank premises and fixed assets $903
    Other real estate owned $0
    Goodwill and other intangibles $89
    All other assets $702

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $117,648
    Total Liabilities $107,029
    Total deposits $106,877
    Interest-bearing deposits $87,935
    Deposits held in domestic offices $106,877
    % insured (estimated) $87
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $152

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $85,955
    Loan and leases loss allowance $1,314
    Total loans and leases (domestic) $87,269
    All real estate loans $74,384
    Real estate loans in domestic offices $74,384
    Construction and development loans $7,897
    Residential 1-4 family construction $1,050
    Other construction, all land development and other land $6,847
    Loans secured by nonfarm nonresidential properties $33,547
    Nonfarm nonresidential secured by owner-occupied properties $27,141
    Commercial real estate & other non-farm, non-residential $6,406
    Multifamily residential real estate $1,172
    1-4 family residential loans $27,979
    Farmland loans $3,789
    Loans held in foreign offices $0
    Farm loans $968
    Commercial and industrial loans $7,161
    To non-U.S. addressees $0
    Loans to individuals $2,519
    Credit card loans $103
    Related Plans $17
    Consumer Auto Loans $1,557
    Other loans to individuals $842
    All other loans & leases $2,237
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Bank of Milton had $85,955,000 of loans outstanding in 2018. $74,384,000 of loans were in real estate loans. $7,897,000 of loans were in development loans. $1,172,000 of loans were in multifamily mortgage loans. $27,979,000 of loans were in 1-4 family mortgage loans. $968,000 of loans were in farm loans. $103,000 of loans were in credit card loans. $1,557,000 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 77 $16,781 $217,935
    Nonfarm, nonresidential loans - <$100k 19 $1,109 $58,368
    Nonfarm, nonresidential loans - $100-250k 22 $3,168 $144,000
    Nonfarm, nonresidential loans - $250k-1MM 36 $12,504 $347,333
    Commercial & Industrial, US addressed loans - <$1MM 70 $4,538 $64,829
    Commercial & Industrial, US addressed loans - <$100k 47 $1,208 $25,702
    Commercial & Industrial, US addressed loans - $100-250k 17 $1,944 $114,353
    Commercial & Industrial, US addressed loans - $250k-1MM 6 $1,386 $231,000
    Farmland loans - <$1MM 21 $2,981 $141,952
    Farmland loans - <$100k 7 $283 $40,429
    Farmland loans - $100-250k 8 $1,161 $145,125
    Farmland loans - $250k-1MM 6 $1,537 $256,167
    Agriculture operations loans - <$1MM 11 $486 $44,182
    Agriculture operations loans - <$100k 8 $176 $22,000
    Agriculture operations loans - $100-250k 3 $310 $103,333