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

Review & Overview

Prevail Bank is a smaller bank specializing in Cash Out Refi, Refi, and Home Purchase loans. Prevail Bank has a high proportion of conventional loans. Their top markets by origination volume include: Wausau, Eau Claire, Stevens Point, Wisconsin Rapids, and Galesburg among others. We have data for 22 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 an above 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

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

Originations

790

Origination Dollar Volume (All Markets)

$145,920,000

Employee count

122

Awards

Prevail Bank 30 Year Conventional Loans gold

Show all (11) 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	209	$33,295,000	$159,306	$1,486	2.62%
WAUSAU-WESTON, WI (FHA\|USDA\|VA)	204	$29,830,000	$146,225	$1,380	2.67%
EAU CLAIRE, WI (FHA\|USDA\|VA)	109	$26,405,000	$242,248	$1,653	2.68%
Stevens Point, WI (FHA\|USDA\|VA)	94	$22,010,000	$234,149	$1,417	2.76%
Wisconsin Rapids-Marshfield, WI (FHA\|USDA\|VA)	118	$16,380,000	$138,814	$1,390	2.63%
Galesburg, IL (FHA\|USDA\|VA)	1	$5,825,000	$5,825,000	$0	3.48%
MADISON, WI (FHA\|USDA\|VA)	11	$3,615,000	$328,636	$1,771	2.91%
Baraboo, WI (FHA\|USDA\|VA)	18	$2,930,000	$162,778	$1,209	3.12%
Menomonie, WI (FHA\|USDA\|VA)	8	$1,510,000	$188,750	$1,880	2.72%
APPLETON, WI (FHA\|USDA\|VA)	3	$755,000	$251,667	$2,266	3.21%
ROCHESTER, MN (FHA\|USDA\|VA)	1	$665,000	$665,000	$0	3.60%
Shawano, WI (FHA\|USDA\|VA)	2	$440,000	$220,000	$1,509	4.06%
Watertown-Fort Atkinson, WI (FHA\|USDA\|VA)	1	$335,000	$335,000	$1,462	2.75%
OSHKOSH-NEENAH, WI (FHA\|USDA\|VA)	2	$330,000	$165,000	$0	3.44%
GREEN BAY, WI (FHA\|USDA\|VA)	2	$310,000	$155,000	$1,131	2.94%
MILWAUKEE-WAUKESHA, WI (FHA\|USDA\|VA)	1	$285,000	$285,000	$1,457	2.25%
Chicago-Naperville-Elgin, IL-IN-WI (FHA\|USDA\|VA)	1	$205,000	$205,000	$0	3.30%
JANESVILLE-BELOIT, WI (FHA\|USDA\|VA)	1	$205,000	$205,000	$0	3.55%
Iron Mountain, MI-WI (FHA\|USDA\|VA)	1	$185,000	$185,000	$2,265	2.38%
Platteville, WI (FHA\|USDA\|VA)	1	$175,000	$175,000	$2,264	2.25%
FOND DU LAC, WI (FHA\|USDA\|VA)	1	$135,000	$135,000	$1,507	3.00%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA\|USDA\|VA)	1	$95,000	$95,000	$1,057	2.38%

Prevail Bank's top markets include Wausau, Eau Claire, Stevens Point, Wisconsin Rapids, and Galesburg among others.

Their top states include:

Wisconsin (FHA|USDA|VA)

Illinois (FHA|USDA|VA)

Minnesota (FHA|USDA|VA)

Indiana (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.

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Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	790	$145,920,000	$184,709	$1,465	2.69%

For 2021, Prevail Bank's most frequently originated type of loan was Conventional, with 790 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Cash Out Refi	318	$57,880,000	$182,013	$1,341	2.60%
Refi	215	$31,665,000	$147,279	$1,206	2.59%
Home Purchase	202	$52,300,000	$258,911	$2,214	2.97%
Other	34	$2,770,000	$81,471	$989	2.55%
Home Improvement	21	$1,305,000	$62,143	$832	2.66%

For 2021, Prevail Bank's most frequently cited loan purpose was Cash Out Refi, with 318 originations. The 2nd most popular reason was Refi, with 215 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
15 Year	280	$43,110,000	$153,964	$1,330	2.42%
30 Year	268	$55,610,000	$207,500	$1,769	2.88%
10 Year	143	$16,965,000	$118,636	$1,005	2.37%
5 Year	35	$11,425,000	$326,429	$0	3.75%
Other	30	$9,260,000	$308,667	$2,345	3.45%
20 Year	14	$2,270,000	$162,143	$1,364	3.04%
30+ year	12	$3,830,000	$319,167	$2,547	2.90%
3 Year	8	$3,450,000	$431,250	$0	3.38%

For 2021, Prevail Bank's most frequently cited loan duration was 15 Year, with 280 originations. The 2nd most popular length was 30 Year, with 268 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	713	$120,275,000	$168,689
$2k-3k	3	$785,000	$261,667
$1k-2k	2	$380,000	$190,000

Prevail Bank's average total fees were $1,769, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 713 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
<2.5%	432	$67,760,000	$156,852
2.5-3%	229	$43,145,000	$188,406
3-4%	115	$31,005,000	$269,609
4-5%	13	$3,785,000	$291,154
5-6%	1	$225,000	$225,000

During 2021, Prevail Bank's average interest rate for loans was 2.88%, while their most frequently originated rate bucket for loans was <2.5%, with 432 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	327	$47,735,000	$145,979	$1,439	2.65%
$100,000 or less	232	$15,430,000	$66,509	$1,164	2.65%
$200k-400k	197	$53,305,000	$270,584	$1,778	2.76%
$400k-600k	19	$9,345,000	$491,842	$1,843	2.81%
$600k-1MM	8	$5,580,000	$697,500	$2,587	2.98%
$1MM+	7	$14,525,000	$2,075,000	$2,407	3.18%

2021 saw Prevail Bank place emphasis on $100k-200k loans with 327 originations, totaling $47,735,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	173	$34,595,000	$199,971	$1,505	2.59%
$50k or less	151	$16,065,000	$106,391	$1,461	2.66%
$50k-75k	148	$19,840,000	$134,054	$1,443	2.60%
$75k-100k	141	$22,885,000	$162,305	$1,463	2.62%
$150k-250k	70	$17,710,000	$253,000	$1,428	2.61%
$250k+	27	$9,245,000	$342,407	$1,599	2.57%

Prevail Bank lent most frequently to those with incomes in the $100k-150k range, with 173 originations. The second most popular income band? $50k or less, with 151 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	205	$33,435,000	$163,098	$1,452	2.59%
30-36%	135	$22,115,000	$163,815	$1,501	2.63%
<20%	118	$16,490,000	$139,746	$1,338	2.48%
50-60%	39	$8,015,000	$205,513	$1,402	2.44%
41%	24	$5,110,000	$212,917	$1,477	2.63%
39%	23	$4,505,000	$195,870	$1,739	2.67%
44%	22	$4,520,000	$205,455	$1,612	2.74%
43%	20	$3,510,000	$175,500	$1,675	2.76%
>60%	18	$4,980,000	$276,667	$1,756	2.58%
40%	18	$2,700,000	$150,000	$1,378	2.51%
38%	17	$3,245,000	$190,882	$1,720	2.62%
42%	14	$2,510,000	$179,286	$1,405	2.66%
36%	12	$2,980,000	$248,333	$1,543	2.65%
37%	11	$1,715,000	$155,909	$1,715	2.78%
45%	11	$1,625,000	$147,727	$1,242	2.65%
47%	7	$965,000	$137,857	$1,257	2.61%
46%	6	$720,000	$120,000	$1,357	2.46%
49%	4	$570,000	$142,500	$1,288	2.56%
48%	2	$200,000	$100,000	$1,578	2.63%

Prevail Bank lent most frequently to those with DTI ratios of 20-30%, with 205 originations. The next most common DTI ratio? 30-36%, with 135 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	665	$111,215,000	$167,241	$1,455	2.62%
Not applicable	57	$22,125,000	$388,158	$0	3.72%
Not provided	55	$10,285,000	$187,000	$1,507	2.54%
Asian	9	$1,445,000	$160,556	$1,847	2.53%
Asian Indian	2	$660,000	$330,000	$1,946	2.31%
Other Asian	1	$145,000	$145,000	$1,497	2.88%
American Indian	1	$45,000	$45,000	$1,029	2.38%

Approval Rates

Total approvals of all applications
94.66%

Prevail Bank has an average approval rate.

Pick Rate

Approvals leading to origination
91.27%

Prevail Bank has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	790	$145,920,000	$184,709

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	790	$145,920,000	$184,709

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	77	$7,145,000	$92,792	$1,277	2.53%
40-60%	184	$33,980,000	$184,674	$1,325	2.63%
60-80%	367	$75,385,000	$205,409	$1,498	2.72%
80-100%	123	$27,875,000	$226,626	$1,939	2.82%
Under 20%	37	$1,235,000	$33,378	$641	2.54%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Prevail Bank	110 Linn Street Baraboo, WI 53913	Full Service B&M	$84,726
Prevail Bank	1601 Lincoln Street Wisconsin Rapids, WI 54494	Full Service B&M	$142,656
Prevail Bank	204 N Avon Ave Phillips, WI 54555	Full Service B&M	$95,452
Prevail Bank	2225 Fairfax Street Eau Claire, WI 54701	Full Service B&M	$3,446
Prevail Bank	326 North Central Avenue Owen, WI 54460	Full Service B&M	$40,919
Prevail Bank	5709 Windy Drive, Suite A Stevens Point, WI 54482	Full Service B&M	$44,282
Prevail Bank	675 E. Broadway Ave. Medford, WI 54451	Full Service B&M	$143,238
Prevail Bank	810 North Central Avenue Marshfield, WI 54449	Full Service B&M	$120,072
Prevail Bank	900 South 17th Avenue Wausau, WI 54401	Full Service B&M	$55,829

For 2021, Prevail Bank had 9 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$25,453
Net interest income	$22,097
Total noninterest income	$1,967
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$168
Trading account gains and fees	$0
Additional Noninterest Income	$1,799
Pre-tax net operating income	$7,615
Securities gains (or losses, -)	$17
Income before extraordinary items	$6,060
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$6,060
Minority interest net income	$0
Net income	$6,060
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$6,046

Prevail Bank's gross interest income from loans was $25,453,000.
Prevail Bank's net interest income from loans was $22,097,000.
Prevail Bank's fee based income from loans was $168,000.
Prevail Bank's net income from loans was $6,060,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$3,356
Provision for credit losses	$650
Total noninterest expense	$15,799
Salaries and employee benefits	$10,203
Premises and equipment expense	$1,631
Additional noninterest expense	$3,965
Applicable income taxes	$1,572
Net charge-offs	$-52
Cash dividends	$0

Prevail Bank's interest expense for loans was $3,356,000.
Prevail Bank's payroll and benefits expense were $10,203,000.
Prevail Bank's property, plant and equipment expenses $1,631,000.

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	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	$774,960
Deposits held in domestic offices	$774,960
Deposits by Individuals, partnerships, and corporations	$730,857
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$42,659
Deposits by Commercial banks and other depository institutions in U.S.	$1,444
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$215,558
Demand deposits	$215,558
Nontransaction accounts	$559,402
Money market deposit accounts (MMDAs)	$145,770
Other savings deposits (excluding MMDAs)	$198,381
Total time deposits	$215,251
Total time and savings deposits	$559,402
Noninterest-bearing deposits	$103,601
Interest-bearing deposits	$671,359
Retail deposits	$748,444
IRAs and Keogh plan accounts	$58,558
Brokered deposits	$11
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$941,811
Cash & Balances due from depository institutions	$47,111
Interest-bearing balances	$33,830
Total securities	$251,565
Federal funds sold & reverse repurchase	$395
Net loans and leases	$568,171
Loan and leases loss allowance	$5,087
Trading account assets	$0
Bank premises and fixed assets	$14,312
Other real estate owned	$0
Goodwill and other intangibles	$30,019
All other assets	$30,238

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$941,811
Total Liabilities	$793,376
Total deposits	$774,960
Interest-bearing deposits	$671,359
Deposits held in domestic offices	$774,960
% insured (estimated)	$79
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$13,000
Subordinated debt	$0
All other liabilities	$5,416

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$568,171
Loan and leases loss allowance	$5,087
Total loans and leases (domestic)	$573,258
All real estate loans	$515,859
Real estate loans in domestic offices	$515,859
Construction and development loans	$20,211
Residential 1-4 family construction	$2,603
Other construction, all land development and other land	$17,608
Loans secured by nonfarm nonresidential properties	$105,509
Nonfarm nonresidential secured by owner-occupied properties	$52,195
Commercial real estate & other non-farm, non-residential	$53,314
Multifamily residential real estate	$46,322
1-4 family residential loans	$339,669
Farmland loans	$4,148
Loans held in foreign offices	$0
Farm loans	$322
Commercial and industrial loans	$43,580
To non-U.S. addressees	$0
Loans to individuals	$895
Credit card loans	$0
Related Plans	$0
Consumer Auto Loans	$728
Other loans to individuals	$167
All other loans & leases	$12,602
Loans to foreign governments and official institutions	$0
Other loans	$1,408
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	$4,659
Non 1-4 family restructured loans & leases	$4,528
Total loans and leases (foreign)	$0

Prevail Bank had $568,171,000 of loans outstanding in 2021. $515,859,000 of loans were in real estate loans. $20,211,000 of loans were in development loans. $46,322,000 of loans were in multifamily mortgage loans. $339,669,000 of loans were in 1-4 family mortgage loans. $322,000 of loans were in farm loans. $0 of loans were in credit card loans. $728,000 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	127	$29,105	$229,173
Nonfarm, nonresidential loans - <$100k	21	$934	$44,476
Nonfarm, nonresidential loans - $100-250k	44	$5,538	$125,864
Nonfarm, nonresidential loans - $250k-1MM	62	$22,633	$365,048
Commercial & Industrial, US addressed loans - <$1MM	153	$12,216	$79,843
Commercial & Industrial, US addressed loans - <$100k	99	$2,424	$24,485
Commercial & Industrial, US addressed loans - $100-250k	21	$2,308	$109,905
Commercial & Industrial, US addressed loans - $250k-1MM	33	$7,484	$226,788
Farmland loans - <$1MM	18	$2,632	$146,222
Farmland loans - <$100k	3	$103	$34,333
Farmland loans - $100-250k	12	$1,666	$138,833
Farmland loans - $250k-1MM	3	$863	$287,667
Agriculture operations loans - <$1MM	5	$322	$64,400
Agriculture operations loans - <$100k	4	$95	$23,750
Agriculture operations loans - $100-250k	1	$227	$227,000