Prevail Bank Mortgage Rates, Fees & Info

Medford, WI

LEI: 254900OC13I9CJC7SD87

Tax ID: 39-0462655

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

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  • SimulatedRates™
  • Mortgage Calculator

    • 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

    Prevail Bank is a smaller bank specializing in Home Purchase and Refi loans. Prevail Bank has a high proportion of conventional loans. Their top markets by origination volume include: Wausau, Eau Claire, Wisconsin Rapids, Stevens Point, and Minneapolis among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Prevail 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. Prevail Bank 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.41% 4/21/24
    30 Year Conventional Refi 5.93% 4/21/24
    30 Year Cash-out Refi 6.49% 4/21/24
    15 Year Conventional Purchase 5.89% 4/21/24
    15 Year Conventional Refi 5.74% 4/21/24
    15 Year Cash-out Refi 5.74% 4/21/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Prevail Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Prevail Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    395

    Origination Dollar Volume (All Markets)

    $53,765,000

    Employee count

    82 Show all (10) 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
    Outside of Metro Areas 164 $20,380,000 $124,268 $1,301 3.96%
    WAUSAU-WESTON, WI (FHA|USDA|VA) 139 $18,375,000 $132,194 $1,292 4.11%
    EAU CLAIRE, WI (FHA|USDA|VA) 39 $6,635,000 $170,128 $1,531 3.89%
    Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) 38 $5,240,000 $137,895 $1,329 4.22%
    Stevens Point, WI (FHA|USDA|VA) 8 $1,120,000 $140,000 $1,414 3.96%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 2 $860,000 $430,000 $2,142 4.10%
    MADISON, WI (FHA|USDA|VA) 2 $440,000 $220,000 $1,158 3.55%
    Menomonie, WI (FHA|USDA|VA) 2 $390,000 $195,000 $1,427 3.60%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $325,000 $325,000 $2,354 3.00%
    Prevail Bank's top markets include Wausau, Eau Claire, Wisconsin Rapids, Stevens Point, and Minneapolis among others.

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

    • Similar Lenders

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

    United Bank a division of Citizens Community Federal N A
    Similarity Rank: 44
    Prevail Bank
    Similarity Rank: 72
    Cloverbelt Credit Union
    Similarity Rank: 85
    AbbyBank
    Similarity Rank: 110
    CO-OP Credit Union
    Similarity Rank: 144
    FIRST CENTENNIAL MORTGAGE CORPORATION
    Similarity Rank: 228
    WESTconsin Credit Union
    Similarity Rank: 270
    Peoples State Bank
    Similarity Rank: 306
    TOWNE MORTGAGE COMPANY
    Similarity Rank: 482
    Royal Credit Union
    Similarity Rank: 630

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 395 $53,765,000 $136,114 $1,333 4.03%

    For 2018, Prevail Bank's most frequently originated type of loan was Conventional, with 395 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 198 $35,390,000 $178,737 $1,769 4.03%
    Refi 136 $15,030,000 $110,515 $981 3.86%
    Other 38 $2,630,000 $69,211 $905 4.17%
    Home Improvement 23 $715,000 $31,087 $341 4.79%

    For 2018, Prevail Bank's most frequently cited loan purpose was Home Purchase, with 198 originations. The 2nd most popular reason was Refi, with 136 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 181 $29,725,000 $164,227 $1,526 4.04%
    15 Year 113 $13,475,000 $119,248 $1,252 3.79%
    10 Year 70 $3,140,000 $44,857 $605 4.35%
    30+ year 21 $5,705,000 $271,667 $2,340 4.08%
    Other 9 $1,705,000 $189,444 $1,974 4.02%
    5 Year 1 $15,000 $15,000 $701 4.30%

    For 2018, Prevail Bank's most frequently cited loan duration was 30 Year, with 181 originations. The 2nd most popular length was 15 Year, with 113 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 391 $53,485,000 $136,790

    Prevail Bank's average total fees were $1,526, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 391 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 191 $24,835,000 $130,026
    4-5% 179 $24,865,000 $138,911
    2.5-3% 16 $3,040,000 $190,000
    5-6% 5 $275,000 $55,000
    <2.5% 4 $750,000 $187,500

    During 2018, Prevail Bank's average interest rate for loans was 4.04%, while their most frequently originated rate bucket for loans was 3-4%, with 191 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 177 $9,955,000 $56,243 $954 4.13%
    $100k-200k 132 $18,640,000 $141,212 $1,464 3.97%
    $200k-400k 76 $19,810,000 $260,658 $1,801 3.89%
    $400k-600k 6 $2,610,000 $435,000 $2,423 4.07%
    $600k-1MM 4 $2,750,000 $687,500 $2,990 3.96%

    2018 saw Prevail Bank place emphasis on $100,000 or less loans with 177 originations, totaling $9,955,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 95 $7,385,000 $77,737 $1,104 4.10%
    $50k-75k 93 $11,425,000 $122,849 $1,383 4.00%
    $100k-150k 86 $13,990,000 $162,674 $1,453 3.95%
    $75k-100k 71 $9,405,000 $132,465 $1,304 4.08%
    $150k-250k 36 $7,530,000 $209,167 $1,452 3.97%
    $250k+ 9 $3,465,000 $385,000 $1,947 3.87%

    Prevail Bank lent most frequently to those with incomes in the $50k or less range, with 95 originations. The second most popular income band? $50k-75k, with 93 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 117 $16,345,000 $139,701 $1,366 4.10%
    <20% 84 $10,050,000 $119,643 $1,328 3.81%
    30-36% 66 $8,670,000 $131,364 $1,281 4.16%
    36% 15 $2,085,000 $139,000 $1,350 3.76%
    43% 13 $1,625,000 $125,000 $1,403 4.03%
    50-60% 13 $1,995,000 $153,462 $1,312 4.18%
    40% 9 $1,635,000 $181,667 $1,746 3.97%
    41% 9 $1,315,000 $146,111 $1,273 4.34%
    45% 8 $1,130,000 $141,250 $1,393 4.24%
    38% 8 $1,370,000 $171,250 $1,600 4.14%
    44% 8 $1,250,000 $156,250 $1,449 3.76%
    37% 7 $1,165,000 $166,429 $1,233 3.69%
    39% 7 $1,335,000 $190,714 $1,411 3.79%
    >60% 6 $650,000 $108,333 $962 3.97%
    42% 6 $1,070,000 $178,333 $1,446 4.03%
    46% 6 $480,000 $80,000 $760 4.05%
    48% 4 $420,000 $105,000 $895 4.45%
    47% 3 $465,000 $155,000 $1,060 4.30%
    49% 2 $330,000 $165,000 $1,829 4.24%

    Prevail Bank lent most frequently to those with DTI ratios of 20-30%, with 117 originations. The next most common DTI ratio? <20%, with 84 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 372 $50,220,000 $135,000 $1,329 4.03%
    Not provided 17 $2,905,000 $170,882 $1,333 3.90%
    Asian 6 $640,000 $106,667 $1,565 4.00%

    Approval Rates

    Total approvals of all applications
    94.70%

    Prevail Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.37%

    Prevail Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 395 $53,765,000 $136,114

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 8 $610,000 $76,250
    Single Family (1-4 Units):Site-Built 387 $53,155,000 $137,351

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 44 $2,430,000 $55,227 $848 4.14%
    40-60% 68 $7,450,000 $109,559 $1,230 3.92%
    60-80% 143 $24,665,000 $172,483 $1,526 3.90%
    80-100% 103 $18,115,000 $175,874 $1,662 4.05%
    Under 20% 37 $1,105,000 $29,865 $432 4.50%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    PROPEL FINANCIAL SERVICES LLC Other type of mortgage Struggling to pay mortgage 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Time Federal Savings Bank 204 N Avon Ave Phillips, WI 54555 Full Service B&M $88,391
    Time Federal Savings Bank 2225 Fairfax Street Eau Claire, WI 54701 Full Service B&M $1,271
    Time Federal Savings Bank 326 North Central Avenue Owen, WI 54460 Full Service B&M $38,026
    Time Federal Savings Bank 675 E. Broadway Ave. Medford, WI 54451 Full Service B&M $143,095
    Time Federal Savings Bank 810 North Central Avenue Marshfield, WI 54449 Full Service B&M $128,522
    Time Federal Savings Bank 900 South 17th Avenue Wausau, WI 54401 Full Service B&M $63,374

    For 2018, Prevail Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $17,729
    Net interest income $13,603
    Total noninterest income $445
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $57
    Trading account gains and fees $0
    Additional Noninterest Income $388
    Pre-tax net operating income $5,212
    Securities gains (or losses, -) $42
    Income before extraordinary items $4,256
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,256
    Minority interest net income $0
    Net income $4,256
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,221

    Prevail Bank's gross interest income from loans was $17,729,000.
    Prevail Bank's net interest income from loans was $13,603,000.
    Prevail Bank's fee based income from loans was $57,000.
    Prevail Bank's net income from loans was $4,256,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,126
    Provision for credit losses $-20
    Total noninterest expense $8,856
    Salaries and employee benefits $5,680
    Premises and equipment expense $1,010
    Additional noninterest expense $2,166
    Applicable income taxes $998
    Net charge-offs $-20
    Cash dividends $0

    Prevail Bank's interest expense for loans was $4,126,000.
    Prevail Bank's payroll and benefits expense were $5,680,000.
    Prevail Bank's property, plant and equipment expenses $1,010,000.

    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 0.1%
    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 $444,816
    Deposits held in domestic offices $444,816
    Deposits by Individuals, partnerships, and corporations $435,380
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $8,750
    Deposits by Commercial banks and other depository institutions in U.S. $686
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $42,616
    Demand deposits $42,616
    Nontransaction accounts $402,200
    Money market deposit accounts (MMDAs) $0
    Other savings deposits (excluding MMDAs) $168,996
    Total time deposits $233,204
    Total time and savings deposits $402,200
    Noninterest-bearing deposits $16,241
    Interest-bearing deposits $428,575
    Retail deposits $420,543
    IRAs and Keogh plan accounts $56,966
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $581,840
    Cash & Balances due from depository institutions $17,287
    Interest-bearing balances $14,246
    Total securities $172,138
    Federal funds sold & reverse repurchase $0
    Net loans and leases $375,324
    Loan and leases loss allowance $1,000
    Trading account assets $0
    Bank premises and fixed assets $6,328
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $10,763

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $581,841
    Total Liabilities $448,318
    Total deposits $444,816
    Interest-bearing deposits $428,575
    Deposits held in domestic offices $444,816
    % insured (estimated) $93
    Federal funds purchased and repurchase agreements $2,123
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $1,379

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $375,324
    Loan and leases loss allowance $1,000
    Total loans and leases (domestic) $376,324
    All real estate loans $372,793
    Real estate loans in domestic offices $372,793
    Construction and development loans $5,544
    Residential 1-4 family construction $5,258
    Other construction, all land development and other land $286
    Loans secured by nonfarm nonresidential properties $821
    Nonfarm nonresidential secured by owner-occupied properties $18
    Commercial real estate & other non-farm, non-residential $803
    Multifamily residential real estate $3,722
    1-4 family residential loans $362,706
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $0
    To non-U.S. addressees $0
    Loans to individuals $1,626
    Credit card loans $1,034
    Related Plans $0
    Consumer Auto Loans $199
    Other loans to individuals $393
    All other loans & leases $1,905
    Loans to foreign governments and official institutions $0
    Other loans $9
    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 $1,007
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Prevail Bank had $375,324,000 of loans outstanding in 2018. $372,793,000 of loans were in real estate loans. $5,544,000 of loans were in development loans. $3,722,000 of loans were in multifamily mortgage loans. $362,706,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $1,034,000 of loans were in credit card loans. $199,000 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 8 $821 $102,625
    Nonfarm, nonresidential loans - <$100k 4 $206 $51,500
    Nonfarm, nonresidential loans - $100-250k 3 $327 $109,000
    Nonfarm, nonresidential loans - $250k-1MM 1 $288 $288,000