Premierbank Mortgage Rates, Fees & Info

Fort Atkinson, WI

LEI: 254900G9TLX0Q50U7H04

Tax ID: 39-0286170

5 stars - out of 5 stars, based on 22 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Premierbank is a smaller bank specializing in Refi and Home Purchase loans. Premierbank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets include Watertown, Janesville, Milwaukee, Beaver Dam, and Whitewater among others. Premierbank has an above average approval rate for mortages when compared nationally. They have an average pick rate when compared to the same sample of other lendors. Premierbank is typically a low fee lendor.


Originations

500

Origination Dollar Volume (All Markets)

$92,720,000

Employee count

94 Show all (6) awards

Relative Rate

Premierbank's average 30 year fixed rate mortgage of loans were 3.1%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.05%.

Relative Fees

Premierbank's average total fees for a 30 year fixed rate mortgage are $1,705.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Watertown-Fort Atkinson, WI (FHA|USDA|VA) 299 $50,755,000 $169,749 $1,432 2.98%
JANESVILLE-BELOIT, WI (FHA|USDA|VA) 70 $9,710,000 $138,714 $1,700 3.47%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 32 $9,470,000 $295,938 $1,615 3.23%
Beaver Dam, WI (FHA|USDA|VA) 22 $7,000,000 $318,182 $1,348 3.16%
Whitewater, WI (FHA|USDA|VA) 43 $6,955,000 $161,744 $1,475 3.11%
MADISON, WI (FHA|USDA|VA) 13 $2,665,000 $205,000 $1,501 3.20%
Stevens Point, WI (FHA|USDA|VA) 2 $2,340,000 $1,170,000 $1,499 3.18%
Outside of Metro Areas 7 $1,215,000 $173,571 $1,335 2.68%
RACINE, WI (FHA|USDA|VA) 2 $600,000 $300,000 $747 2.56%
PANAMA CITY, FL (FHA|USDA|VA) 1 $585,000 $585,000 $0 3.13%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 2 $300,000 $150,000 $0 3.50%
Baraboo, WI (FHA|USDA|VA) 1 $285,000 $285,000 $0 3.75%
Manitowoc, WI (FHA|USDA|VA) 2 $270,000 $135,000 $744 2.19%
OSHKOSH-NEENAH, WI (FHA|USDA|VA) 1 $215,000 $215,000 $1,012 3.13%
ROCKFORD, IL (FHA|USDA|VA) 1 $155,000 $155,000 $0 3.25%
FOND DU LAC, WI (FHA|USDA|VA) 1 $125,000 $125,000 $1,007 2.63%
Marinette, WI-MI (FHA|USDA|VA) 1 $75,000 $75,000 $0 3.75%

Premierbank's top markets include Watertown, Janesville, Milwaukee, Beaver Dam, and Whitewater among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 496 $92,010,000 $185,504 $1,442 3.09%
USDA 4 $710,000 $177,500 $4,069 2.97%

For the 2021 period, Premierbank's most frequently originated loan type of loans were Conventional, with 496 originations. Their 2nd most popular type is USDA, with 4 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 259 $41,925,000 $161,873 $1,118 2.90%
Home Purchase 159 $38,715,000 $243,491 $2,162 3.47%
Cash Out Refi 68 $11,360,000 $167,059 $1,539 2.81%
Home Improvement 7 $335,000 $47,857 $599 3.55%
Other 7 $385,000 $55,000 $850 3.57%

For the 2021, Premierbank's most frequently cited loan purpose of loans were Refi, with 259 originations. The 2nd most popular reason of loans were Home Purchase, with 159 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 209 $39,955,000 $191,172 $1,705 3.10%
15 Year 103 $17,065,000 $165,680 $1,320 2.40%
Other 76 $14,190,000 $186,711 $644 3.40%
20 Year 33 $5,425,000 $164,394 $1,916 2.83%
5 Year 30 $8,900,000 $296,667 $616 3.88%
3 Year 24 $3,200,000 $133,333 $781 4.20%
10 Year 18 $2,550,000 $141,667 $1,190 2.87%
1 Year 7 $1,435,000 $205,000 $2,917 4.07%

For the 2021, Premierbank's most frequently cited loan length of loans were 30 Year, with 209 originations. The 2nd most popular length of loans were 15 Year, with 103 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 393 $66,745,000 $169,835
$1k-2k 3 $825,000 $275,000
$2k-3k 1 $355,000 $355,000

$1,705 of loans were Premierbank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 393 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 169 $37,025,000 $219,083
2.5-3% 156 $27,290,000 $174,936
<2.5% 138 $21,760,000 $157,681
4-5% 29 $6,275,000 $216,379
7-8% 6 $110,000 $18,333
5-6% 2 $260,000 $130,000

During 2021, Premierbank's average interest rate of loans were 3.10%, while their most frequently originated rate bucket of loans were 3-4%, with 169 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 217 $30,805,000 $141,959 $1,485 3.04%
$200k-400k 137 $36,205,000 $264,270 $1,755 2.93%
$100,000 or less 126 $8,350,000 $66,270 $1,052 3.29%
$400k-600k 12 $5,920,000 $493,333 $1,424 3.08%
$1MM+ 4 $8,440,000 $2,110,000 $0 3.47%
$600k-1MM 4 $3,000,000 $750,000 $0 4.26%

2021 saw Premierbank place emphasis on $100k-200k loans with 217 originations, totaling $30,805,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 111 $15,345,000 $138,243 $1,397 2.93%
$100k-150k 84 $15,200,000 $180,952 $1,401 2.89%
$50k or less 81 $8,245,000 $101,790 $1,516 3.45%
$75k-100k 80 $13,350,000 $166,875 $1,524 2.89%
$150k-250k 55 $14,325,000 $260,455 $1,723 2.92%
$250k+ 20 $5,100,000 $255,000 $1,243 2.67%

Premierbank lent most frequently to those with incomes in the $50k-75k range, with 111 originations. The second most popular income band? $100k-150k, with 84 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 154 $24,610,000 $159,805 $1,446 2.84%
<20% 94 $16,440,000 $174,894 $1,413 2.74%
30-36% 67 $11,175,000 $166,791 $1,536 3.08%
37% 14 $2,220,000 $158,571 $1,343 3.17%
39% 14 $2,190,000 $156,429 $1,382 3.08%
38% 12 $2,210,000 $184,167 $1,401 3.35%
41% 10 $1,830,000 $183,000 $1,690 3.06%
36% 10 $1,480,000 $148,000 $1,516 3.05%
40% 9 $1,495,000 $166,111 $1,791 3.22%
42% 6 $1,070,000 $178,333 $1,698 3.10%
47% 6 $1,080,000 $180,000 $1,256 3.11%
43% 5 $945,000 $189,000 $1,668 2.88%
45% 5 $865,000 $173,000 $1,609 2.98%
50-60% 4 $590,000 $147,500 $1,444 3.66%
44% 3 $555,000 $185,000 $990 2.72%
46% 3 $585,000 $195,000 $2,707 3.29%
49% 2 $140,000 $70,000 $1,081 3.44%
>60% 2 $300,000 $150,000 $767 5.67%
48% 1 $155,000 $155,000 $1,575 3.74%

Premierbank lent most frequently to those with DTI ratios of 20-30%, with 154 originations. The next most common DTI ratio? <20%, with 94 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 430 $71,200,000 $165,581 $1,466 2.99%
Not applicable 55 $18,415,000 $334,818 $0 3.85%
Not provided 8 $1,670,000 $208,750 $1,679 3.15%
Asian 5 $1,085,000 $217,000 $1,388 3.15%
Black 2 $350,000 $175,000 $1,089 3.03%

Approval Rates

Total approvals of all applications
95.53%

Premierbank 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
94.88%

Premierbank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
100.0 1 $15,000 $15,000
250.0 1 $15,000 $15,000
500.0 4 $80,000 $20,000
NA 494 $92,610,000 $187,470

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
500 $92,720,000 $185,440

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 57 $5,565,000 $97,632 $953 2.78%
40-60% 126 $22,840,000 $181,270 $1,425 3.02%
60-80% 210 $46,740,000 $222,571 $1,471 3.08%
80-100% 79 $15,535,000 $196,646 $2,142 3.26%
Under 20% 28 $2,040,000 $72,857 $644 3.59%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Premier Mortgage, LLC Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 33.3%
Premier Mortgage, LLC VA mortgage Applying for a mortgage or refinancing an existing mortgage 2 66.7%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Premierbank 1505 Madison Avenue Fort Atkinson, WI 53538 Full Service Retail $3,716
Premierbank 100 East Sherman Avenue Fort Atkinson, WI 53538 Limited, Drive-thru $0
Premierbank 100 Grell Lane Johnson Creek, WI 53038 Full Service B&M $42,229
Premierbank 1400 Black Bridge Road Janesville, WI 53545 Full Service B&M $17,238
Premierbank 154 Main Street Sullivan, WI 53178 Full Service B&M $16,802
Premierbank 200 South Fremont Street Whitewater, WI 53190 Full Service B&M $77,298
Premierbank 320 South Center Avenue Jefferson, WI 53549 Full Service B&M $91,842
Premierbank 70 North Main Street Fort Atkinson, WI 53538 Full Service B&M $160,491
Premierbank 910 South Main Street Fort Atkinson, WI 53538 Limited, Drive-thru $0

For 2021, Premierbank had 9 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $14,984
Net interest income $14,508
Total noninterest income $4,258
Gross Fiduciary activities income $1,411
Service charges on deposit accounts $442
Trading account gains and fees $0
Additional Noninterest Income $2,405
Pre-tax net operating income $6,180
Securities gains (or losses, -) $492
Income before extraordinary items $5,314
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $5,314
Minority interest net income $0
Net income $5,314
Sale, conversion, retirement of capital stock, net $0
Net operating income $4,920

Premierbank's gross interest income from loans was $14,984,000.
Premierbank's net interest income from loans was $14,508,000.
Premierbank's fee based income from loans was $442,000.
Premierbank's net income from loans was $5,314,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $476
Provision for credit losses $12
Total noninterest expense $12,574
Salaries and employee benefits $7,042
Premises and equipment expense $1,507
Additional noninterest expense $4,025
Applicable income taxes $1,358
Net charge-offs $-13
Cash dividends $3,510

Premierbank's interest expense for loans was $476,000.
Premierbank's payroll and benefits expense were $7,042,000.
Premierbank's property, plant and equipment expenses $1,507,000.

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 5.0%
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 1.0%
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 $443,856
Deposits held in domestic offices $443,856
Deposits by Individuals, partnerships, and corporations $413,343
Deposits by U.S. Government $7
Deposits by States and political subdivisions in the U.S. $30,507
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 $206,702
Demand deposits $137,361
Nontransaction accounts $237,155
Money market deposit accounts (MMDAs) $83,096
Other savings deposits (excluding MMDAs) $120,833
Total time deposits $33,226
Total time and savings deposits $306,496
Noninterest-bearing deposits $137,361
Interest-bearing deposits $306,495
Retail deposits $436,159
IRAs and Keogh plan accounts $10,361
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $547,946
Cash & Balances due from depository institutions $34,059
Interest-bearing balances $23,548
Total securities $201,112
Federal funds sold & reverse repurchase $32,483
Net loans and leases $251,146
Loan and leases loss allowance $4,473
Trading account assets $0
Bank premises and fixed assets $6,231
Other real estate owned $0
Goodwill and other intangibles $9,565
All other assets $13,350

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $547,946
Total Liabilities $489,536
Total deposits $443,856
Interest-bearing deposits $306,495
Deposits held in domestic offices $443,856
% insured (estimated) $77
Federal funds purchased and repurchase agreements $38,508
Trading liabilities $0
Other borrowed funds $5,000
Subordinated debt $0
All other liabilities $2,172

Issued Loan Types

Type Value (in 000's)
Net loans and leases $251,146
Loan and leases loss allowance $4,473
Total loans and leases (domestic) $255,619
All real estate loans $204,164
Real estate loans in domestic offices $204,164
Construction and development loans $8,824
Residential 1-4 family construction $4,984
Other construction, all land development and other land $3,840
Loans secured by nonfarm nonresidential properties $85,418
Nonfarm nonresidential secured by owner-occupied properties $34,494
Commercial real estate & other non-farm, non-residential $50,924
Multifamily residential real estate $11,656
1-4 family residential loans $82,664
Farmland loans $15,602
Loans held in foreign offices $0
Farm loans $3,397
Commercial and industrial loans $33,478
To non-U.S. addressees $0
Loans to individuals $4,268
Credit card loans $0
Related Plans $25
Consumer Auto Loans $1,972
Other loans to individuals $2,271
All other loans & leases $10,313
Loans to foreign governments and official institutions $0
Other loans $464
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 $6,392
Non 1-4 family restructured loans & leases $6,088
Total loans and leases (foreign) $0

PremierBank had $251,146,000 of loans outstanding in 2021. $204,164,000 of loans were in real estate loans. $8,824,000 of loans were in development loans. $11,656,000 of loans were in multifamily mortgage loans. $82,664,000 of loans were in 1-4 family mortgage loans. $3,397,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,972,000 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 192 $40,255 $209,661
Nonfarm, nonresidential loans - <$100k 36 $363 $10,083
Nonfarm, nonresidential loans - $100-250k 73 $9,102 $124,685
Nonfarm, nonresidential loans - $250k-1MM 83 $30,790 $370,964
Commercial & Industrial, US addressed loans - <$1MM 376 $25,636 $68,181
Commercial & Industrial, US addressed loans - <$100k 288 $7,362 $25,563
Commercial & Industrial, US addressed loans - $100-250k 49 $5,671 $115,735
Commercial & Industrial, US addressed loans - $250k-1MM 39 $12,603 $323,154
Farmland loans - <$1MM 41 $7,143 $174,220
Farmland loans - <$100k 10 $366 $36,600
Farmland loans - $100-250k 16 $2,200 $137,500
Farmland loans - $250k-1MM 15 $4,577 $305,133
Agriculture operations loans - <$1MM 36 $2,079 $57,750
Agriculture operations loans - <$100k 26 $543 $20,885
Agriculture operations loans - $100-250k 6 $607 $101,167
Agriculture operations loans - $250k-1MM 4 $929 $232,250