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. Their top markets by origination volume include: Milwaukee, Sheboygan, Oshkosh, Green Bay, and Fond Du Lac among others. We have data for 19 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 an above 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    Originations

    496

    Origination Dollar Volume (All Markets)

    $141,790,000

    Employee count

    72

    Awards

    Commerce State Bank 30 Year Conventional Loans silver Commerce State Bank 30 Year Conventional Loans gold Commerce State Bank 30 Year Conventional Loans gold
    Show all (3) 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) 274 $81,370,000 $296,971 $1,767 3.42%
    SHEBOYGAN, WI (FHA|USDA|VA) 131 $34,815,000 $265,763 $1,722 3.19%
    OSHKOSH-NEENAH, WI (FHA|USDA|VA) 11 $4,945,000 $449,545 $2,269 3.85%
    GREEN BAY, WI (FHA|USDA|VA) 3 $4,845,000 $1,615,000 $2,026 3.33%
    FOND DU LAC, WI (FHA|USDA|VA) 18 $4,050,000 $225,000 $1,577 3.34%
    RACINE, WI (FHA|USDA|VA) 15 $3,385,000 $225,667 $1,786 4.43%
    Outside of Metro Areas 11 $2,305,000 $209,545 $1,898 3.30%
    WAUSAU-WESTON, WI (FHA|USDA|VA) 3 $1,005,000 $335,000 $1,789 3.50%
    Shawano, WI (FHA|USDA|VA) 3 $855,000 $285,000 $1,767 4.11%
    Beaver Dam, WI (FHA|USDA|VA) 6 $750,000 $125,000 $1,315 4.25%
    APPLETON, WI (FHA|USDA|VA) 5 $695,000 $139,000 $1,769 3.38%
    Manitowoc, WI (FHA|USDA|VA) 4 $650,000 $162,500 $1,688 2.97%
    MADISON, WI (FHA|USDA|VA) 2 $520,000 $260,000 $2,133 3.13%
    Watertown-Fort Atkinson, WI (FHA|USDA|VA) 2 $440,000 $220,000 $1,546 2.50%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $345,000 $345,000 $1,646 3.63%
    Baraboo, WI (FHA|USDA|VA) 1 $345,000 $345,000 $2,320 3.38%
    Marinette, WI-MI (FHA|USDA|VA) 4 $300,000 $75,000 $1,997 2.84%
    Stevens Point, WI (FHA|USDA|VA) 1 $115,000 $115,000 $1,640 3.00%
    Whitewater, WI (FHA|USDA|VA) 1 $55,000 $55,000 $0 4.25%
    Commerce State Bank's top markets include Milwaukee, Sheboygan, Oshkosh, Green Bay, and Fond Du Lac 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.

    UNITEDONE Credit Union
    Similarity Rank: 396
    The Greenwood's State Bank
    Similarity Rank: 500
    NORTHWESTERN MUTUAL
    Similarity Rank: 670
    The Park Bank
    Similarity Rank: 819
    Hometown Bank
    Similarity Rank: 840
    Farmers & Merchants State Bank
    Similarity Rank: 976
    Westbury Bank
    Similarity Rank: 1007
    PyraMax Bank, FSB
    Similarity Rank: 1170
    State Bank of Cross Plains
    Similarity Rank: 1200
    PRIME FINANCIAL CREDIT UNION
    Similarity Rank: 1211

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 496 $141,790,000 $285,867 $1,755 3.39%

    For 2021, Commerce State Bank's most frequently originated type of loan was Conventional, with 496 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 214 $61,080,000 $285,421 $2,225 3.73%
    Refi 180 $58,550,000 $325,278 $1,505 3.11%
    Cash Out Refi 84 $18,860,000 $224,524 $1,642 3.04%
    Other 12 $2,040,000 $170,000 $979 3.73%
    Home Improvement 6 $1,260,000 $210,000 $1,220 4.19%

    For 2021, Commerce State Bank's most frequently cited loan purpose was Home Purchase, with 214 originations. The 2nd most popular reason was Refi, with 180 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 172 $40,410,000 $234,942 $1,756 3.13%
    5 Year 130 $38,890,000 $299,154 $0 4.12%
    15 Year 94 $18,260,000 $194,255 $1,532 2.58%
    Other 55 $32,385,000 $588,818 $2,463 4.07%
    20 Year 29 $5,705,000 $196,724 $1,419 2.94%
    1 Year 11 $3,245,000 $295,000 $0 3.77%
    10 Year 3 $555,000 $185,000 $701 3.21%
    3 Year 2 $2,340,000 $1,170,000 $0 3.75%

    For 2021, Commerce State Bank's most frequently cited loan duration was 30 Year, with 172 originations. The 2nd most popular length was 5 Year, with 130 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 308 $68,160,000 $221,299
    $1k-2k 17 $2,975,000 $175,000
    $2k-3k 9 $1,615,000 $179,444
    $3k-4k 6 $1,470,000 $245,000
    $4k-5k 3 $1,125,000 $375,000
    $5k+ 1 $545,000 $545,000

    Commerce State Bank's average total fees were $1,756, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 308 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 211 $88,265,000 $418,318
    2.5-3% 147 $32,325,000 $219,898
    4-5% 83 $12,755,000 $153,675
    <2.5% 46 $7,850,000 $170,652
    5-6% 5 $295,000 $59,000
    6-7% 3 $275,000 $91,667

    During 2021, Commerce State Bank's average interest rate for loans was 3.13%, while their most frequently originated rate bucket for loans was 3-4%, with 211 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 187 $27,985,000 $149,652 $1,640 3.25%
    $200k-400k 134 $37,000,000 $276,119 $1,967 3.27%
    $100,000 or less 103 $7,245,000 $70,340 $1,489 3.81%
    $400k-600k 45 $21,855,000 $485,667 $2,007 3.32%
    $1MM+ 14 $38,370,000 $2,740,714 $2,518 3.53%
    $600k-1MM 13 $9,335,000 $718,077 $1,112 3.57%

    2021 saw Commerce State Bank place emphasis on $100k-200k loans with 187 originations, totaling $27,985,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 74 $11,420,000 $154,324 $1,653 3.04%
    $75k-100k 71 $13,925,000 $196,127 $1,752 3.16%
    $100k-150k 67 $15,265,000 $227,836 $1,839 3.20%
    $150k-250k 54 $16,100,000 $298,148 $1,966 3.19%
    $50k or less 53 $6,605,000 $124,623 $1,613 3.11%
    $250k+ 34 $14,210,000 $417,941 $1,702 3.06%

    Commerce State Bank lent most frequently to those with incomes in the $50k-75k range, with 74 originations. The second most popular income band? $75k-100k, with 71 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 85 $17,095,000 $201,118 $1,695 3.02%
    <20% 62 $17,960,000 $289,677 $1,606 2.90%
    30-36% 52 $11,550,000 $222,115 $2,016 3.19%
    41% 18 $3,350,000 $186,111 $1,629 3.05%
    39% 15 $2,865,000 $191,000 $1,849 3.44%
    36% 14 $3,140,000 $224,286 $1,992 3.21%
    38% 14 $2,830,000 $202,143 $2,170 3.37%
    47% 13 $2,615,000 $201,154 $1,648 3.36%
    42% 12 $2,630,000 $219,167 $1,871 2.99%
    37% 12 $2,380,000 $198,333 $1,666 2.98%
    40% 12 $1,820,000 $151,667 $1,698 3.28%
    46% 9 $2,085,000 $231,667 $1,480 3.21%
    49% 7 $1,435,000 $205,000 $1,629 2.95%
    48% 6 $810,000 $135,000 $1,675 3.44%
    44% 6 $1,010,000 $168,333 $1,491 3.48%
    43% 6 $1,720,000 $286,667 $1,607 3.48%
    45% 4 $1,310,000 $327,500 $1,748 3.09%
    50-60% 1 $85,000 $85,000 $0 3.75%
    >60% 1 $125,000 $125,000 $0 3.75%

    Commerce State Bank lent most frequently to those with DTI ratios of 20-30%, with 85 originations. The next most common DTI ratio? <20%, with 62 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 324 $71,010,000 $219,167 $1,755 3.12%
    Not applicable 139 $62,945,000 $452,842 $0 4.05%
    Not provided 24 $5,590,000 $232,917 $1,492 3.38%
    Asian 4 $1,160,000 $290,000 $2,621 3.09%
    Black 3 $695,000 $231,667 $1,903 3.25%
    American Indian 1 $265,000 $265,000 $2,811 2.88%
    Asian Indian 1 $125,000 $125,000 $1,651 3.50%

    Approval Rates

    Total approvals of all applications
    93.22%

    Commerce State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    91.33%

    Commerce State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 496 $141,790,000 $285,867

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    496 $141,790,000 $285,867

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 36 $8,120,000 $225,556 $1,455 3.23%
    40-60% 92 $20,480,000 $222,609 $1,672 3.09%
    60-80% 248 $73,790,000 $297,540 $1,696 3.43%
    80-100% 102 $37,710,000 $369,706 $2,163 3.56%
    Over 100% 2 $570,000 $285,000 $4,767 4.25%
    Under 20% 13 $675,000 $51,923 $539 3.79%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    COMMERCE BANK Conventional home mortgage Closing on a mortgage 1 33.3%
    COMMERCE BANK Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 33.3%
    COMMERCE BANK FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 33.3%

    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 $73,071
    Commerce State Bank 1700 S Silverbrook Dr West Bend, WI 53095 Full Service B&M $392,085
    Commerce State Bank 2230 Kohler Memorial Drive Sheboygan, WI 53081 Full Service B&M $126,227
    Commerce State Bank N 301 Washington Avenue Cedarburg, WI 53012 Full Service B&M $115,708

    For 2021, Commerce State Bank had 4 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $32,222
    Net interest income $29,698
    Total noninterest income $4,630
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $448
    Trading account gains and fees $0
    Additional Noninterest Income $4,182
    Pre-tax net operating income $15,885
    Securities gains (or losses, -) $0
    Income before extraordinary items $11,645
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $11,645
    Minority interest net income $0
    Net income $11,645
    Sale, conversion, retirement of capital stock, net $388
    Net operating income $11,645

    Commerce State Bank's gross interest income from loans was $32,222,000.
    Commerce State Bank's net interest income from loans was $29,698,000.
    Commerce State Bank's fee based income from loans was $448,000.
    Commerce State Bank's net income from loans was $11,645,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,524
    Provision for credit losses $3,700
    Total noninterest expense $14,743
    Salaries and employee benefits $9,272
    Premises and equipment expense $1,353
    Additional noninterest expense $4,118
    Applicable income taxes $4,240
    Net charge-offs $2,845
    Cash dividends $3,508

    Commerce State Bank's interest expense for loans was $2,524,000.
    Commerce State Bank's payroll and benefits expense were $9,272,000.
    Commerce State Bank's property, plant and equipment expenses $1,353,000.

    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 1.0%
    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 $709,971
    Deposits held in domestic offices $709,971
    Deposits by Individuals, partnerships, and corporations $601,956
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $35,480
    Deposits by Commercial banks and other depository institutions in U.S. $72,535
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $175,856
    Demand deposits $154,134
    Nontransaction accounts $534,115
    Money market deposit accounts (MMDAs) $74,586
    Other savings deposits (excluding MMDAs) $273,108
    Total time deposits $186,420
    Total time and savings deposits $555,837
    Noninterest-bearing deposits $154,134
    Interest-bearing deposits $555,837
    Retail deposits $643,737
    IRAs and Keogh plan accounts $9,589
    Brokered deposits $56,470
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $837,128
    Cash & Balances due from depository institutions $51,896
    Interest-bearing balances $42,113
    Total securities $39,472
    Federal funds sold & reverse repurchase $0
    Net loans and leases $714,699
    Loan and leases loss allowance $8,953
    Trading account assets $0
    Bank premises and fixed assets $13,907
    Other real estate owned $493
    Goodwill and other intangibles $1,102
    All other assets $15,559

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $837,128
    Total Liabilities $751,613
    Total deposits $709,971
    Interest-bearing deposits $555,837
    Deposits held in domestic offices $709,971
    % insured (estimated) $61
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $35,000
    Subordinated debt $0
    All other liabilities $6,642

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $714,699
    Loan and leases loss allowance $8,953
    Total loans and leases (domestic) $723,652
    All real estate loans $551,550
    Real estate loans in domestic offices $551,550
    Construction and development loans $74,248
    Residential 1-4 family construction $11,765
    Other construction, all land development and other land $62,483
    Loans secured by nonfarm nonresidential properties $278,703
    Nonfarm nonresidential secured by owner-occupied properties $191,454
    Commercial real estate & other non-farm, non-residential $87,249
    Multifamily residential real estate $74,947
    1-4 family residential loans $123,223
    Farmland loans $429
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $168,703
    To non-U.S. addressees $0
    Loans to individuals $2,059
    Credit card loans $0
    Related Plans $1
    Consumer Auto Loans $1,010
    Other loans to individuals $1,048
    All other loans & leases $1,341
    Loans to foreign governments and official institutions $0
    Other loans $60
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Commerce State Bank had $714,699,000 of loans outstanding in 2021. $551,550,000 of loans were in real estate loans. $74,248,000 of loans were in development loans. $74,947,000 of loans were in multifamily mortgage loans. $123,223,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $1,010,000 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 315 $96,271 $305,622
    Nonfarm, nonresidential loans - <$100k 42 $2,217 $52,786
    Nonfarm, nonresidential loans - $100-250k 85 $12,032 $141,553
    Nonfarm, nonresidential loans - $250k-1MM 188 $82,022 $436,287
    Commercial & Industrial, US addressed loans - <$1MM 472 $62,947 $133,362
    Commercial & Industrial, US addressed loans - <$100k 219 $5,861 $26,763
    Commercial & Industrial, US addressed loans - $100-250k 115 $13,298 $115,635
    Commercial & Industrial, US addressed loans - $250k-1MM 138 $43,788 $317,304
    Farmland loans - <$1MM 1 $40 $40,000
    Farmland loans - $100-250k 1 $40 $40,000