Northwestern Bank Mortgage Rates, Fees & Info

Chippewa Falls, WI

LEI: 254900YAD0R5TBY92Y41

Tax ID: 39-0509860

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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

    Northwestern Bank is a smaller bank specializing in Refi, Cash Out Refi, and Home Purchase loans. Northwestern Bank has a high proportion of conventional loans. Their top markets by origination volume include: Eau Claire, Minneapolis, Menomonie, Madison, and Stevens Point among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Northwestern 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

    432

    Origination Dollar Volume (All Markets)

    $90,760,000

    Employee count

    73

    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
    EAU CLAIRE, WI (FHA|USDA|VA) 367 $79,325,000 $216,144 $0 0.00%
    Outside of Metro Areas 53 $8,975,000 $169,340 $0 0.00%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 4 $1,080,000 $270,000 $0 0.00%
    Menomonie, WI (FHA|USDA|VA) 4 $660,000 $165,000 $0 0.00%
    MADISON, WI (FHA|USDA|VA) 3 $595,000 $198,333 $0 0.00%
    Stevens Point, WI (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
    Northwestern Bank's top markets include Eau Claire, Minneapolis, Menomonie, Madison, and Stevens Point 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 432 $90,760,000 $210,093 $0 0.00%

    For 2020, Northwestern Bank's most frequently originated type of loan was Conventional, with 432 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 187 $41,005,000 $219,278 $0 0.00%
    Cash Out Refi 141 $28,635,000 $203,085 $0 0.00%
    Home Purchase 89 $19,705,000 $221,404 $0 0.00%
    Other 11 $1,235,000 $112,273 $0 0.00%
    Home Improvement 4 $180,000 $45,000 $0 0.00%

    For 2020, Northwestern Bank's most frequently cited loan purpose was Refi, with 187 originations. The 2nd most popular reason was Cash Out Refi, with 141 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 432 $90,760,000 $210,093 $0 0.00%

    For 2020, Northwestern Bank's most frequently cited loan duration was Other, with 432 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 175 $26,575,000 $151,857 $0 0.00%
    $200k-400k 156 $42,810,000 $274,423 $0 0.00%
    $100,000 or less 79 $5,615,000 $71,076 $0 0.00%
    $400k-600k 21 $10,005,000 $476,429 $0 0.00%
    $1MM+ 1 $5,755,000 $5,755,000 $0 0.00%

    2020 saw Northwestern Bank place emphasis on $100k-200k loans with 175 originations, totaling $26,575,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 116 $25,630,000 $220,948 $0 0.00%
    $75k-100k 82 $14,280,000 $174,146 $0 0.00%
    $50k-75k 61 $10,415,000 $170,738 $0 0.00%
    $50k or less 61 $6,635,000 $108,770 $0 0.00%
    $150k-250k 51 $13,915,000 $272,843 $0 0.00%
    $250k+ 28 $8,360,000 $298,571 $0 0.00%

    Northwestern Bank lent most frequently to those with incomes in the $100k-150k range, with 116 originations. The second most popular income band? $75k-100k, with 82 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 432 $90,760,000 $210,093 $0 0.00%

    Northwestern Bank lent most frequently to those with DTI ratios of Exempt%, with 432 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 376 $75,240,000 $200,106 $0 0.00%
    Not provided 42 $7,990,000 $190,238 $0 0.00%
    Not applicable 13 $7,305,000 $561,923 $0 0.00%
    American Indian 1 $225,000 $225,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    91.03%

    Northwestern Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.58%

    Northwestern Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 432 $90,760,000 $210,093

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $7,855,000 $1,571,000
    Single Family (1-4 Units):Manufactured 1 $95,000 $95,000
    Single Family (1-4 Units):Site-Built 426 $82,810,000 $194,390

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    NORTHWEST BANCSHARES INC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    NORTHWEST BANCSHARES INC Conventional home mortgage Trouble during payment process 1 50.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Northwestern Bank 111 North Washington Street Thorp, WI 54771 Full Service B&M $57,020
    Northwestern Bank 1430 Rivers Edge Trail Altoona, WI 54720 Full Service B&M $53,765
    Northwestern Bank 17152 County Highway J Chippewa Falls, WI 54729 Full Service B&M $0
    Northwestern Bank 20 East Central Street Chippewa Falls, WI 54729 Limited, Drive-thru $0
    Northwestern Bank 201 Main Street Cornell, WI 54732 Full Service B&M $44,873
    Northwestern Bank 202 Bridge Street Chippewa Falls, WI 54729 Full Service B&M $253,440
    Northwestern Bank 803 East Murray Street Boyd, WI 54726 Full Service B&M $22,282

    For 2020, Northwestern Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $21,554
    Net interest income $19,527
    Total noninterest income $2,468
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $249
    Trading account gains and fees $0
    Additional Noninterest Income $2,219
    Pre-tax net operating income $9,916
    Securities gains (or losses, -) $43
    Income before extraordinary items $8,891
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $8,891
    Minority interest net income $0
    Net income $8,891
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $8,852

    Northwestern Bank's gross interest income from loans was $21,554,000.
    Northwestern Bank's net interest income from loans was $19,527,000.
    Northwestern Bank's fee based income from loans was $249,000.
    Northwestern Bank's net income from loans was $8,891,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,027
    Provision for credit losses $2,420
    Total noninterest expense $9,659
    Salaries and employee benefits $5,467
    Premises and equipment expense $890
    Additional noninterest expense $3,302
    Applicable income taxes $1,068
    Net charge-offs $-12
    Cash dividends $5,529

    Northwestern Bank's interest expense for loans was $2,027,000.
    Northwestern Bank's payroll and benefits expense were $5,467,000.
    Northwestern Bank's property, plant and equipment expenses $890,000.

    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 $479,557
    Deposits held in domestic offices $479,557
    Deposits by Individuals, partnerships, and corporations $452,879
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $26,678
    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 $228,807
    Demand deposits $144,381
    Nontransaction accounts $250,750
    Money market deposit accounts (MMDAs) $101,554
    Other savings deposits (excluding MMDAs) $75,888
    Total time deposits $73,308
    Total time and savings deposits $335,176
    Noninterest-bearing deposits $144,381
    Interest-bearing deposits $335,176
    Retail deposits $475,090
    IRAs and Keogh plan accounts $14,315
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $542,519
    Cash & Balances due from depository institutions $41,846
    Interest-bearing balances $31,620
    Total securities $104,946
    Federal funds sold & reverse repurchase $446
    Net loans and leases $389,576
    Loan and leases loss allowance $11,339
    Trading account assets $0
    Bank premises and fixed assets $2,755
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $2,950

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $542,519
    Total Liabilities $484,330
    Total deposits $479,557
    Interest-bearing deposits $335,176
    Deposits held in domestic offices $479,557
    % insured (estimated) $81
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $4,000
    Subordinated debt $0
    All other liabilities $773

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $389,576
    Loan and leases loss allowance $11,339
    Total loans and leases (domestic) $400,915
    All real estate loans $240,980
    Real estate loans in domestic offices $240,980
    Construction and development loans $25,970
    Residential 1-4 family construction $3,221
    Other construction, all land development and other land $22,749
    Loans secured by nonfarm nonresidential properties $143,819
    Nonfarm nonresidential secured by owner-occupied properties $95,502
    Commercial real estate & other non-farm, non-residential $48,317
    Multifamily residential real estate $24,541
    1-4 family residential loans $36,738
    Farmland loans $9,912
    Loans held in foreign offices $0
    Farm loans $17,436
    Commercial and industrial loans $125,594
    To non-U.S. addressees $0
    Loans to individuals $3,277
    Credit card loans $108
    Related Plans $0
    Consumer Auto Loans $151
    Other loans to individuals $3,018
    All other loans & leases $13,628
    Loans to foreign governments and official institutions $0
    Other loans $12,154
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $2,253
    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

    Northwestern Bank had $389,576,000 of loans outstanding in 2020. $240,980,000 of loans were in real estate loans. $25,970,000 of loans were in development loans. $24,541,000 of loans were in multifamily mortgage loans. $36,738,000 of loans were in 1-4 family mortgage loans. $17,436,000 of loans were in farm loans. $108,000 of loans were in credit card loans. $151,000 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 190 $53,607 $282,142
    Nonfarm, nonresidential loans - <$100k 44 $2,096 $47,636
    Nonfarm, nonresidential loans - $100-250k 60 $8,935 $148,917
    Nonfarm, nonresidential loans - $250k-1MM 86 $42,576 $495,070
    Commercial & Industrial, US addressed loans - <$1MM 666 $52,895 $79,422
    Commercial & Industrial, US addressed loans - <$100k 451 $10,889 $24,144
    Commercial & Industrial, US addressed loans - $100-250k 120 $14,053 $117,108
    Commercial & Industrial, US addressed loans - $250k-1MM 95 $27,953 $294,242
    Farmland loans - <$1MM 50 $5,705 $114,100
    Farmland loans - <$100k 26 $1,180 $45,385
    Farmland loans - $100-250k 17 $2,252 $132,471
    Farmland loans - $250k-1MM 7 $2,273 $324,714
    Agriculture operations loans - <$1MM 52 $2,423 $46,596
    Agriculture operations loans - <$100k 42 $973 $23,167
    Agriculture operations loans - $100-250k 9 $1,092 $121,333
    Agriculture operations loans - $250k-1MM 1 $358 $358,000