Commerce State Bank Mortgage Rates, Fees & Info

West Bend, WI

LEI: 5493001UU04U3T40J822

Tax ID: 35-2259112

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

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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 and Refi 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, Oshkosh, Manitowoc, and Green Bay among others. We have data for 15 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.

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    Originations

    500

    Origination Dollar Volume (All Markets)

    $101,190,000

    Employee count

    77 Show all (5) 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) 219 $50,735,000 $231,667 $1,557 4.69%
    SHEBOYGAN, WI (FHA|USDA|VA) 216 $30,750,000 $142,361 $1,781 4.29%
    OSHKOSH-NEENAH, WI (FHA|USDA|VA) 5 $9,025,000 $1,805,000 $860 4.53%
    Manitowoc, WI (FHA|USDA|VA) 15 $2,285,000 $152,333 $1,826 4.07%
    Outside of Metro Areas 12 $2,190,000 $182,500 $1,588 4.45%
    GREEN BAY, WI (FHA|USDA|VA) 1 $1,415,000 $1,415,000 $13,344 4.63%
    FOND DU LAC, WI (FHA|USDA|VA) 7 $1,245,000 $177,857 $1,961 3.75%
    Beaver Dam, WI (FHA|USDA|VA) 6 $940,000 $156,667 $1,275 5.35%
    RACINE, WI (FHA|USDA|VA) 7 $635,000 $90,714 $1,612 6.08%
    Shawano, WI (FHA|USDA|VA) 3 $475,000 $158,333 $2,720 4.67%
    APPLETON, WI (FHA|USDA|VA) 4 $460,000 $115,000 $1,098 3.91%
    Marinette, WI-MI (FHA|USDA|VA) 2 $330,000 $165,000 $1,451 3.56%
    MADISON, WI (FHA|USDA|VA) 1 $285,000 $285,000 $1,772 4.63%
    Stevens Point, WI (FHA|USDA|VA) 1 $275,000 $275,000 $1,409 3.63%
    Watertown-Fort Atkinson, WI (FHA|USDA|VA) 1 $145,000 $145,000 $1,662 4.25%
    Commerce State Bank's top markets include Milwaukee, Sheboygan, Oshkosh, Manitowoc, and Green Bay 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: 8
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    Empower Credit Union
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    UNITEDONE Credit Union
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    EDUCATORS CREDIT UNION
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    Westbury Bank
    Similarity Rank: 437
    Kohler Credit Union
    Similarity Rank: 484
    Horicon Bank
    Similarity Rank: 752
    PyraMax Bank, FSB
    Similarity Rank: 756
    Glacier Hills Credit Union
    Similarity Rank: 765

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 487 $98,965,000 $203,214 $1,607 4.51%
    FHA 13 $2,225,000 $171,154 $4,989 3.78%

    For 2019, Commerce State Bank's most frequently originated type of loan was Conventional, with 487 originations. Their 2nd most popular type was FHA, with 13 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 256 $51,140,000 $199,766 $1,863 4.53%
    Refi 141 $33,845,000 $240,035 $1,557 4.15%
    Cash Out Refi 73 $13,485,000 $184,726 $1,785 4.47%
    Home Improvement 21 $1,835,000 $87,381 $876 5.93%
    Other 9 $885,000 $98,333 $697 5.53%

    For 2019, Commerce State Bank's most frequently cited loan purpose was Home Purchase, with 256 originations. The 2nd most popular reason was Refi, with 141 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 264 $54,380,000 $205,985 $1,902 4.06%
    Other 68 $12,080,000 $177,647 $1,538 5.81%
    15 Year 63 $9,635,000 $152,937 $1,584 3.46%
    5 Year 43 $14,865,000 $345,698 $0 5.86%
    3 Year 20 $2,460,000 $123,000 $0 5.94%
    10 Year 19 $485,000 $25,526 $142 4.06%
    1 Year 13 $5,485,000 $421,923 $0 5.92%
    20 Year 10 $1,800,000 $180,000 $1,497 3.73%

    For 2019, Commerce State Bank's most frequently cited loan duration was 30 Year, with 264 originations. The 2nd most popular length was Other, with 68 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 373 $63,385,000 $169,933
    $1k-2k 37 $7,275,000 $196,622
    $2k-3k 6 $1,510,000 $251,667
    $4k-5k 1 $835,000 $835,000
    $5k+ 1 $1,415,000 $1,415,000

    Commerce State Bank's average total fees were $1,902, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 373 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 224 $43,110,000 $192,455
    4-5% 124 $37,180,000 $299,839
    5-6% 88 $12,920,000 $146,818
    6-7% 48 $5,520,000 $115,000
    2.5-3% 12 $2,180,000 $181,667
    7-8% 3 $235,000 $78,333
    Over 8% 1 $45,000 $45,000

    During 2019, Commerce State Bank's average interest rate for loans was 4.06%, while their most frequently originated rate bucket for loans was 3-4%, with 224 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 173 $25,245,000 $145,925 $1,889 4.31%
    $100,000 or less 161 $9,085,000 $56,429 $1,260 5.04%
    $200k-400k 136 $38,230,000 $281,103 $1,797 4.06%
    $400k-600k 20 $9,350,000 $467,500 $1,761 4.34%
    $1MM+ 7 $16,725,000 $2,389,286 $13,344 4.97%
    $600k-1MM 3 $2,555,000 $851,667 $4,172 5.42%

    2019 saw Commerce State Bank place emphasis on $100k-200k loans with 173 originations, totaling $25,245,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 108 $13,990,000 $129,537 $1,570 4.15%
    $50k or less 90 $8,790,000 $97,667 $1,677 4.18%
    $100k-150k 88 $20,110,000 $228,523 $1,802 4.24%
    $75k-100k 72 $12,760,000 $177,222 $1,835 4.43%
    $150k-250k 49 $12,755,000 $260,306 $1,481 4.36%
    $250k+ 21 $7,295,000 $347,381 $2,406 4.44%

    Commerce State Bank lent most frequently to those with incomes in the $50k-75k range, with 108 originations. The second most popular income band? $50k or less, with 90 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 107 $17,895,000 $167,243 $1,535 4.08%
    30-36% 87 $15,195,000 $174,655 $1,769 4.29%
    <20% 49 $8,055,000 $164,388 $1,727 4.17%
    44% 24 $4,680,000 $195,000 $1,784 4.53%
    38% 20 $2,810,000 $140,500 $1,549 4.20%
    37% 19 $3,845,000 $202,368 $1,931 4.40%
    36% 16 $2,520,000 $157,500 $2,161 4.25%
    42% 14 $2,730,000 $195,000 $1,790 3.98%
    41% 14 $2,740,000 $195,714 $1,410 4.73%
    39% 13 $2,445,000 $188,077 $1,741 4.11%
    43% 13 $2,755,000 $211,923 $1,620 4.55%
    40% 12 $2,390,000 $199,167 $1,733 4.13%
    47% 12 $3,030,000 $252,500 $1,694 4.44%
    45% 8 $1,240,000 $155,000 $2,291 4.58%
    49% 7 $1,105,000 $157,857 $1,990 4.21%
    48% 5 $905,000 $181,000 $1,685 3.85%
    46% 2 $290,000 $145,000 $2,551 3.50%
    >60% 1 $85,000 $85,000 $1,650 5.75%
    50-60% 1 $115,000 $115,000 $1,799 5.50%

    Commerce State Bank lent most frequently to those with DTI ratios of 20-30%, with 107 originations. The next most common DTI ratio? 30-36%, with 87 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 413 $73,435,000 $177,809 $1,701 4.26%
    Not applicable 71 $25,195,000 $354,859 $0 5.88%
    Asian 13 $1,715,000 $131,923 $2,068 4.36%
    Not provided 2 $530,000 $265,000 $1,805 3.75%
    Asian Indian 1 $315,000 $315,000 $2,014 3.99%

    Approval Rates

    Total approvals of all applications
    94.32%

    Commerce State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.80%

    Commerce State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 500 $101,190,000 $202,380

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 17 $19,215,000 $1,130,294
    Single Family (1-4 Units):Manufactured 1 $75,000 $75,000
    Single Family (1-4 Units):Site-Built 482 $81,900,000 $169,917

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 26 $1,950,000 $75,000 $1,216 4.89%
    40-60% 46 $11,140,000 $242,174 $1,591 4.11%
    60-80% 204 $44,800,000 $219,608 $1,720 4.39%
    80-100% 182 $41,760,000 $229,451 $2,171 4.48%
    Over 100% 1 $315,000 $315,000 $0 6.00%
    Under 20% 41 $1,225,000 $29,878 $215 5.20%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    COMMERCE BANK Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    COMMERCE BANK Other type of mortgage Trouble during payment process 1 50.0%

    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 $68,125
    Commerce State Bank 1700 S Silverbrook Dr West Bend, WI 53095 Full Service B&M $335,192
    Commerce State Bank 2230 Kohler Memorial Drive Sheboygan, WI 53081 Full Service B&M $84,408
    Commerce State Bank N 301 Washington Avenue Cedarburg, WI 53012 Full Service B&M $95,122

    For 2019, Commerce State Bank had 4 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $34,186
    Net interest income $23,289
    Total noninterest income $3,849
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $476
    Trading account gains and fees $0
    Additional Noninterest Income $3,373
    Pre-tax net operating income $10,339
    Securities gains (or losses, -) $1
    Income before extraordinary items $7,570
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $7,570
    Minority interest net income $0
    Net income $7,570
    Sale, conversion, retirement of capital stock, net $268
    Net operating income $7,569

    Commerce State Bank's gross interest income from loans was $34,186,000.
    Commerce State Bank's net interest income from loans was $23,289,000.
    Commerce State Bank's fee based income from loans was $476,000.
    Commerce State Bank's net income from loans was $7,570,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $10,897
    Provision for credit losses $2,410
    Total noninterest expense $14,389
    Salaries and employee benefits $9,114
    Premises and equipment expense $1,365
    Additional noninterest expense $3,910
    Applicable income taxes $2,770
    Net charge-offs $3,594
    Cash dividends $0

    Commerce State Bank's interest expense for loans was $10,897,000.
    Commerce State Bank's payroll and benefits expense were $9,114,000.
    Commerce State Bank's property, plant and equipment expenses $1,365,000.

    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 $610,006
    Deposits held in domestic offices $610,006
    Deposits by Individuals, partnerships, and corporations $546,148
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $33,406
    Deposits by Commercial banks and other depository institutions in U.S. $30,453
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $105,384
    Demand deposits $89,961
    Nontransaction accounts $504,623
    Money market deposit accounts (MMDAs) $73,586
    Other savings deposits (excluding MMDAs) $147,620
    Total time deposits $283,418
    Total time and savings deposits $520,046
    Noninterest-bearing deposits $89,961
    Interest-bearing deposits $520,045
    Retail deposits $491,508
    IRAs and Keogh plan accounts $14,346
    Brokered deposits $70,753
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $707,921
    Cash & Balances due from depository institutions $49,269
    Interest-bearing balances $41,584
    Total securities $32,581
    Federal funds sold & reverse repurchase $0
    Net loans and leases $598,334
    Loan and leases loss allowance $4,652
    Trading account assets $0
    Bank premises and fixed assets $14,787
    Other real estate owned $65
    Goodwill and other intangibles $1,020
    All other assets $11,865

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $707,921
    Total Liabilities $638,067
    Total deposits $610,006
    Interest-bearing deposits $520,045
    Deposits held in domestic offices $610,006
    % insured (estimated) $72
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $20,000
    Subordinated debt $0
    All other liabilities $8,061

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $598,334
    Loan and leases loss allowance $4,652
    Total loans and leases (domestic) $602,986
    All real estate loans $431,455
    Real estate loans in domestic offices $431,455
    Construction and development loans $41,874
    Residential 1-4 family construction $17,850
    Other construction, all land development and other land $24,024
    Loans secured by nonfarm nonresidential properties $233,555
    Nonfarm nonresidential secured by owner-occupied properties $149,355
    Commercial real estate & other non-farm, non-residential $84,200
    Multifamily residential real estate $37,581
    1-4 family residential loans $116,599
    Farmland loans $1,846
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $169,782
    To non-U.S. addressees $0
    Loans to individuals $301
    Credit card loans $0
    Related Plans $2
    Consumer Auto Loans $27
    Other loans to individuals $272
    All other loans & leases $1,448
    Loans to foreign governments and official institutions $0
    Other loans $141
    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 $866
    Non 1-4 family restructured loans & leases $150
    Total loans and leases (foreign) $0

    Commerce State Bank had $598,334,000 of loans outstanding in 2019. $431,455,000 of loans were in real estate loans. $41,874,000 of loans were in development loans. $37,581,000 of loans were in multifamily mortgage loans. $116,599,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $27,000 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 330 $82,863 $251,100
    Nonfarm, nonresidential loans - <$100k 55 $2,689 $48,891
    Nonfarm, nonresidential loans - $100-250k 91 $11,819 $129,879
    Nonfarm, nonresidential loans - $250k-1MM 184 $68,355 $371,495
    Commercial & Industrial, US addressed loans - <$1MM 473 $66,132 $139,814
    Commercial & Industrial, US addressed loans - <$100k 233 $6,908 $29,648
    Commercial & Industrial, US addressed loans - $100-250k 114 $13,020 $114,211
    Commercial & Industrial, US addressed loans - $250k-1MM 126 $46,204 $366,698
    Farmland loans - <$1MM 7 $802 $114,571
    Farmland loans - <$100k 2 $101 $50,500
    Farmland loans - $100-250k 2 $176 $88,000
    Farmland loans - $250k-1MM 3 $525 $175,000