Commerce State Bank Mortgage Rates, Fees & Info

West Bend, WI

LEI: 5493001UU04U3T40J822

Tax ID: 35-2259112

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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

    Commerce State Bank is a smaller bank specializing in Home Purchase loans. Commerce State Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Milwaukee, Sheboygan, Manitowoc, Appleton, and Beaver Dam among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Commerce State 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. Commerce State 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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    Originations

    467

    Origination Dollar Volume (All Markets)

    $76,875,000

    Employee count

    78 Show all (6) 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
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 237 $43,855,000 $185,042 $1,451 5.14%
    SHEBOYGAN, WI (FHA|USDA|VA) 182 $24,900,000 $136,813 $1,825 4.92%
    Outside of Metro Areas 8 $2,430,000 $303,750 $1,385 4.62%
    Manitowoc, WI (FHA|USDA|VA) 8 $1,040,000 $130,000 $1,889 5.39%
    APPLETON, WI (FHA|USDA|VA) 5 $1,035,000 $207,000 $1,598 4.58%
    Beaver Dam, WI (FHA|USDA|VA) 8 $1,020,000 $127,500 $1,277 4.86%
    OSHKOSH-NEENAH, WI (FHA|USDA|VA) 5 $865,000 $173,000 $2,171 5.48%
    FOND DU LAC, WI (FHA|USDA|VA) 4 $760,000 $190,000 $1,665 4.72%
    RACINE, WI (FHA|USDA|VA) 6 $380,000 $63,333 $0 6.17%
    Shawano, WI (FHA|USDA|VA) 1 $265,000 $265,000 $1,522 4.50%
    Marinette, WI-MI (FHA|USDA|VA) 2 $230,000 $115,000 $1,810 5.50%
    Stevens Point, WI (FHA|USDA|VA) 1 $95,000 $95,000 $1,707 7.00%
    Commerce State Bank's top markets include Milwaukee, Sheboygan, Manitowoc, Appleton, and Beaver Dam among others.

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

    • Similar Lenders

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

    AppleTree Credit Union
    Similarity Rank: 10
    NORTHWESTERN MUTUAL
    Similarity Rank: 12
    UNITEDONE Credit Union
    Similarity Rank: 48
    Empower Credit Union
    Similarity Rank: 135
    HERITAGE CREDIT UNION
    Similarity Rank: 143
    Kohler Credit Union
    Similarity Rank: 152
    PRIME FINANCIAL CREDIT UNION
    Similarity Rank: 275
    Partnership Bank
    Similarity Rank: 333
    Glacier Hills Credit Union
    Similarity Rank: 357
    Westbury Bank
    Similarity Rank: 416

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 443 $73,485,000 $165,880 $1,457 5.09%
    FHA 24 $3,390,000 $141,250 $4,329 4.40%

    For 2018, Commerce State Bank's most frequently originated type of loan was Conventional, with 443 originations. Their 2nd most popular type was FHA, with 24 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 315 $55,535,000 $176,302 $1,847 4.91%
    Refi 58 $12,910,000 $222,586 $1,359 5.03%
    Home Improvement 42 $2,600,000 $61,905 $405 5.81%
    Cash Out Refi 40 $4,880,000 $122,000 $1,297 5.17%
    Other 12 $950,000 $79,167 $546 6.03%

    For 2018, Commerce State Bank's most frequently cited loan purpose was Home Purchase, with 315 originations. The 2nd most popular reason was Refi, with 58 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 242 $47,760,000 $197,355 $2,007 4.65%
    Other 74 $7,700,000 $104,054 $856 5.98%
    3 Year 48 $9,280,000 $193,333 $0 5.60%
    5 Year 31 $5,405,000 $174,355 $336 5.88%
    15 Year 28 $3,650,000 $130,357 $1,693 4.29%
    10 Year 25 $225,000 $9,000 $89 4.93%
    20 Year 11 $1,885,000 $171,364 $1,547 4.36%
    1 Year 8 $970,000 $121,250 $0 6.24%

    For 2018, Commerce State Bank's most frequently cited loan duration was 30 Year, with 242 originations. The 2nd most popular length was Other, with 74 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 341 $52,025,000 $152,566
    $1k-2k 21 $4,575,000 $217,857
    $2k-3k 3 $1,525,000 $508,333
    $3k-4k 1 $625,000 $625,000

    Commerce State Bank's average total fees were $2,007, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 341 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 256 $47,400,000 $185,156
    5-6% 142 $19,750,000 $139,085
    6-7% 32 $3,000,000 $93,750
    3-4% 27 $5,275,000 $195,370
    7-8% 8 $1,390,000 $173,750
    Over 8% 2 $60,000 $30,000

    During 2018, Commerce State Bank's average interest rate for loans was 4.65%, while their most frequently originated rate bucket for loans was 4-5%, with 256 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 169 $8,885,000 $52,574 $1,006 5.51%
    $100k-200k 167 $23,535,000 $140,928 $1,981 4.85%
    $200k-400k 109 $28,925,000 $265,367 $1,864 4.66%
    $400k-600k 14 $6,320,000 $451,429 $1,500 4.80%
    $600k-1MM 7 $5,655,000 $807,857 $3,847 5.42%
    $1MM+ 1 $3,555,000 $3,555,000 $0 5.60%

    2018 saw Commerce State Bank place emphasis on $100,000 or less loans with 169 originations, totaling $8,885,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 109 $14,175,000 $130,046 $1,727 4.80%
    $50k or less 93 $8,895,000 $95,645 $1,741 5.01%
    $100k-150k 70 $14,160,000 $202,286 $1,458 5.04%
    $75k-100k 67 $11,785,000 $175,896 $1,614 4.77%
    $150k-250k 36 $8,690,000 $241,389 $1,588 4.99%
    $250k+ 11 $2,895,000 $263,182 $1,488 4.87%

    Commerce State Bank lent most frequently to those with incomes in the $50k-75k range, with 109 originations. The second most popular income band? $50k or less, with 93 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 89 $13,265,000 $149,045 $1,526 4.89%
    20-30% 79 $12,265,000 $155,253 $1,550 4.90%
    <20% 35 $4,925,000 $140,714 $1,470 4.79%
    43% 19 $2,935,000 $154,474 $1,789 4.83%
    40% 15 $3,365,000 $224,333 $2,249 5.03%
    44% 15 $2,125,000 $141,667 $1,766 5.17%
    37% 14 $2,800,000 $200,000 $1,674 4.78%
    36% 14 $2,680,000 $191,429 $1,650 4.79%
    42% 13 $1,895,000 $145,769 $1,406 5.31%
    39% 13 $1,755,000 $135,000 $1,843 4.93%
    46% 13 $1,645,000 $126,538 $1,181 5.68%
    38% 11 $1,325,000 $120,455 $1,598 4.82%
    47% 11 $2,165,000 $196,818 $1,878 4.66%
    41% 11 $1,575,000 $143,182 $1,632 4.89%
    48% 10 $1,680,000 $168,000 $1,573 4.90%
    45% 9 $1,815,000 $201,667 $2,364 4.53%
    49% 8 $1,290,000 $161,250 $1,877 4.73%
    50-60% 3 $375,000 $125,000 $3,116 4.50%
    >60% 2 $390,000 $195,000 $2,516 4.88%

    Commerce State Bank lent most frequently to those with DTI ratios of 30-36%, with 89 originations. The next most common DTI ratio? 20-30%, with 79 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 374 $58,310,000 $155,909 $1,636 4.91%
    Not applicable 81 $16,275,000 $200,926 $0 5.76%
    Asian 6 $1,390,000 $231,667 $1,533 4.67%
    American Indian 3 $515,000 $171,667 $2,846 4.79%
    Black 1 $235,000 $235,000 $1,809 4.63%
    Not provided 2 $150,000 $75,000 $1,494 5.63%

    Approval Rates

    Total approvals of all applications
    93.36%

    Commerce State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    88.01%

    Commerce State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 467 $76,875,000 $164,615

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 10 $7,560,000 $756,000
    Single Family (1-4 Units):Manufactured 2 $110,000 $55,000
    Single Family (1-4 Units):Site-Built 455 $69,205,000 $152,099

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 26 $2,470,000 $95,000 $1,022 5.40%
    40-60% 50 $7,500,000 $150,000 $1,616 5.06%
    60-80% 150 $31,920,000 $212,800 $1,715 5.05%
    80-100% 174 $32,110,000 $184,540 $2,218 4.83%
    Over 100% 3 $1,085,000 $361,667 $0 5.35%
    Under 20% 64 $1,790,000 $27,969 $248 5.55%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    COMMERCE BANK VA mortgage Trouble during payment process 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Commerce State Bank 12960 West Bluemound Road Elm Grove, WI 53122 Full Service B&M $66,541
    Commerce State Bank 1700 S Silverbrook Dr West Bend, WI 53095 Full Service B&M $360,569
    Commerce State Bank 4706 South Taylor Drive Sheboygan, WI 53081 Full Service B&M $51,478
    Commerce State Bank N 301 Washington Avenue Cedarburg, WI 53012 Full Service B&M $89,265

    For 2018, Commerce State Bank had 4 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $29,658
    Net interest income $21,819
    Total noninterest income $3,578
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $377
    Trading account gains and fees $0
    Additional Noninterest Income $3,201
    Pre-tax net operating income $9,609
    Securities gains (or losses, -) $0
    Income before extraordinary items $7,006
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $7,006
    Minority interest net income $0
    Net income $7,006
    Sale, conversion, retirement of capital stock, net $356
    Net operating income $7,006

    Commerce State Bank's gross interest income from loans was $29,658,000.
    Commerce State Bank's net interest income from loans was $21,819,000.
    Commerce State Bank's fee based income from loans was $377,000.
    Commerce State Bank's net income from loans was $7,006,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $7,839
    Provision for credit losses $830
    Total noninterest expense $14,958
    Salaries and employee benefits $9,263
    Premises and equipment expense $1,436
    Additional noninterest expense $4,259
    Applicable income taxes $2,603
    Net charge-offs $-156
    Cash dividends $0

    Commerce State Bank's interest expense for loans was $7,839,000.
    Commerce State Bank's payroll and benefits expense were $9,263,000.
    Commerce State Bank's property, plant and equipment expenses $1,436,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    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 3.0%
    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 $565,966
    Deposits held in domestic offices $565,966
    Deposits by Individuals, partnerships, and corporations $518,435
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $15,046
    Deposits by Commercial banks and other depository institutions in U.S. $32,485
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $96,737
    Demand deposits $79,491
    Nontransaction accounts $469,229
    Money market deposit accounts (MMDAs) $71,941
    Other savings deposits (excluding MMDAs) $71,185
    Total time deposits $326,103
    Total time and savings deposits $486,475
    Noninterest-bearing deposits $79,490
    Interest-bearing deposits $486,476
    Retail deposits $425,258
    IRAs and Keogh plan accounts $13,204
    Brokered deposits $81,462
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $655,008
    Cash & Balances due from depository institutions $39,950
    Interest-bearing balances $28,597
    Total securities $32,856
    Federal funds sold & reverse repurchase $0
    Net loans and leases $553,256
    Loan and leases loss allowance $5,836
    Trading account assets $0
    Bank premises and fixed assets $15,410
    Other real estate owned $469
    Goodwill and other intangibles $1,074
    All other assets $11,993

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $655,008
    Total Liabilities $593,725
    Total deposits $565,966
    Interest-bearing deposits $486,476
    Deposits held in domestic offices $565,966
    % insured (estimated) $79
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $20,000
    Subordinated debt $0
    All other liabilities $7,759

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $553,256
    Loan and leases loss allowance $5,836
    Total loans and leases (domestic) $559,092
    All real estate loans $395,291
    Real estate loans in domestic offices $395,291
    Construction and development loans $32,650
    Residential 1-4 family construction $13,909
    Other construction, all land development and other land $18,741
    Loans secured by nonfarm nonresidential properties $216,990
    Nonfarm nonresidential secured by owner-occupied properties $144,561
    Commercial real estate & other non-farm, non-residential $72,429
    Multifamily residential real estate $32,849
    1-4 family residential loans $110,734
    Farmland loans $2,068
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $162,697
    To non-U.S. addressees $0
    Loans to individuals $635
    Credit card loans $0
    Related Plans $2
    Consumer Auto Loans $32
    Other loans to individuals $601
    All other loans & leases $469
    Loans to foreign governments and official institutions $0
    Other loans $403
    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 $1,081
    Non 1-4 family restructured loans & leases $347
    Total loans and leases (foreign) $0

    Commerce State Bank had $553,256,000 of loans outstanding in 2018. $395,291,000 of loans were in real estate loans. $32,650,000 of loans were in development loans. $32,849,000 of loans were in multifamily mortgage loans. $110,734,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $32,000 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 313 $80,734 $257,936
    Nonfarm, nonresidential loans - <$100k 54 $2,752 $50,963
    Nonfarm, nonresidential loans - $100-250k 87 $12,084 $138,897
    Nonfarm, nonresidential loans - $250k-1MM 172 $65,898 $383,128
    Commercial & Industrial, US addressed loans - <$1MM 429 $57,073 $133,037
    Commercial & Industrial, US addressed loans - <$100k 213 $6,538 $30,695
    Commercial & Industrial, US addressed loans - $100-250k 102 $11,038 $108,216
    Commercial & Industrial, US addressed loans - $250k-1MM 114 $39,497 $346,465
    Farmland loans - <$1MM 9 $937 $104,111
    Farmland loans - <$100k 4 $153 $38,250
    Farmland loans - $100-250k 2 $184 $92,000
    Farmland loans - $250k-1MM 3 $600 $200,000