Westbury Bank Mortgage Rates, Fees & Info
Waukesha, WI
LEI: 5493002XHCZ94X8YST31
Tax ID: 39-0698030
5 stars
-
out of 5 stars, based on 26 reviews
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Mortgage Data
Bank Data
Overview
Westbury Bank is a
smaller
bank
specializing in
Refi and Home Purchase loans.
Westbury 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 include Milwaukee, Detroit, Madison, Fond Du Lac, and Huntington among others. Westbury Bank has
an above average
approval rate for mortages when compared nationally.
They have
an average
pick rate when compared to the same sample of other lendors.
Westbury Bank is typically
a low fee
lendor.
Originations
657
Origination Dollar Volume (All Markets)
$228,195,000
Employee count
103
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Westbury Bank - 2021
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Relative Rate
Westbury Bank's average 30 year fixed rate mortgage of loans were
2.98%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.17%.
Relative Fees
Westbury Bank's average total fees for a 30 year fixed rate
mortgage are $1,551.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
Market |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA)
|
526
|
$161,110,000 |
$306,293 |
$1,130 |
2.80% |
Detroit-Warren-Dearborn, MI (FHA|USDA|VA)
|
2
|
$12,810,000 |
$6,405,000 |
$0 |
3.40% |
MADISON, WI (FHA|USDA|VA)
|
10
|
$10,920,000 |
$1,092,000 |
$1,073 |
3.14% |
FOND DU LAC, WI (FHA|USDA|VA)
|
33
|
$7,065,000 |
$214,091 |
$1,256 |
2.88% |
HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA)
|
1
|
$7,005,000 |
$7,005,000 |
$0 |
3.20% |
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA)
|
1
|
$5,405,000 |
$5,405,000 |
$0 |
3.25% |
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA)
|
2
|
$4,840,000 |
$2,420,000 |
$1,777 |
3.55% |
Beaver Dam, WI (FHA|USDA|VA)
|
33
|
$4,355,000 |
$131,970 |
$828 |
2.91% |
SIOUX FALLS, SD (FHA|USDA|VA)
|
1
|
$3,605,000 |
$3,605,000 |
$0 |
3.25% |
Outside of Metro Areas
|
9 |
$3,505,000 |
$389,444 |
$1,807 |
3.18% |
RACINE, WI (FHA|USDA|VA)
|
15
|
$2,715,000 |
$181,000 |
$1,721 |
2.83% |
SHEBOYGAN, WI (FHA|USDA|VA)
|
10
|
$1,670,000 |
$167,000 |
$1,234 |
2.80% |
Watertown-Fort Atkinson, WI (FHA|USDA|VA)
|
4
|
$1,130,000 |
$282,500 |
$1,349 |
2.75% |
Stevens Point, WI (FHA|USDA|VA)
|
1
|
$425,000 |
$425,000 |
$1,344 |
2.13% |
Whitewater, WI (FHA|USDA|VA)
|
2
|
$400,000 |
$200,000 |
$1,745 |
3.19% |
Manitowoc, WI (FHA|USDA|VA)
|
1
|
$355,000 |
$355,000 |
$500 |
3.00% |
APPLETON, WI (FHA|USDA|VA)
|
2
|
$350,000 |
$175,000 |
$1,576 |
2.81% |
GREEN BAY, WI (FHA|USDA|VA)
|
2
|
$270,000 |
$135,000 |
$908 |
2.94% |
OSHKOSH-NEENAH, WI (FHA|USDA|VA)
|
2
|
$260,000 |
$130,000 |
$1,786 |
2.44% |
Westbury Bank's top markets include Milwaukee, Detroit, Madison, Fond Du Lac, and Huntington among others.
Product Mix
Loan Type |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
Conventional |
654 |
$226,940,000 |
$347,003 |
$1,139 |
2.83% |
VA |
2 |
$1,100,000 |
$550,000 |
$2,500 |
2.56% |
FHA |
1 |
$155,000 |
$155,000 |
$5,108 |
2.50% |
For the 2021 period, Westbury Bank's most frequently
originated loan type
of loans were Conventional, with 654 originations.
Their 2nd most popular type is VA,
with 2 originations.
Loan Reason
Loan Reason |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
Refi |
295 |
$86,695,000 |
$293,881 |
$1,070 |
2.66% |
Cash Out Refi |
207 |
$42,135,000 |
$203,551 |
$990 |
2.90% |
Home Purchase |
135 |
$96,965,000 |
$718,259 |
$1,709 |
3.08% |
Other |
11 |
$1,245,000 |
$113,182 |
$356 |
2.78% |
Home Improvement |
9 |
$1,155,000 |
$128,333 |
$726 |
2.91% |
For the 2021, Westbury Bank's most frequently cited loan
purpose
of loans were Refi, with 295
originations.
The 2nd most popular reason of loans were Cash Out Refi,
with 207 originations.
Loan Duration/Length
Loan Length |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
30 Year |
295 |
$71,095,000 |
$241,000 |
$1,551 |
2.98% |
15 Year |
211 |
$35,565,000 |
$168,555 |
$870 |
2.59% |
10 Year |
83 |
$8,865,000 |
$106,807 |
$186 |
2.77% |
20 Year |
23 |
$4,425,000 |
$192,391 |
$1,363 |
2.83% |
5 Year |
17 |
$66,845,000 |
$3,932,059 |
$0 |
2.98% |
Other |
15 |
$34,085,000 |
$2,272,333 |
$375 |
2.92% |
30+ year |
13 |
$7,315,000 |
$562,692 |
$2,642 |
3.34% |
For the 2021, Westbury Bank's most frequently cited loan
length
of loans were 30 Year, with 295 originations.
The 2nd most popular length of loans were 15 Year,
with 211 originations.
Origination Fees
Origination Fee |
Originations |
Total Value |
Average Loan |
$<1k |
616 |
$124,140,000 |
$201,526 |
$1k-2k |
9 |
$2,305,000 |
$256,111 |
$2k-3k |
2 |
$1,000,000 |
$500,000 |
$1,551 of loans were Westbury Bank's
average total fees, while their most
frequently occuring range of origination fees were in the
$<1k bucket,
with 616 originations.
Interest Rates
Loan Rate |
Originations |
Total Value |
Average Loan |
2.5-3% |
398 |
$78,260,000 |
$196,633 |
3-4% |
127 |
$111,895,000 |
$881,063 |
<2.5% |
124 |
$37,040,000 |
$298,710 |
4-5% |
6 |
$890,000 |
$148,333 |
5-6% |
2 |
$110,000 |
$55,000 |
During 2021, Westbury Bank's average interest
rate of loans were 2.98%, while their
most frequently originated rate bucket of loans were 2.5-3%,
with 398 originations.
Loan Sizing
Loan Size |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
$100k-200k |
267 |
$39,615,000 |
$148,371 |
$1,159 |
2.81% |
$200k-400k |
208 |
$56,240,000 |
$270,385 |
$1,433 |
2.82% |
$100,000 or less |
109 |
$7,585,000 |
$69,587 |
$354 |
2.90% |
$400k-600k |
44 |
$21,020,000 |
$477,727 |
$1,545 |
2.81% |
$1MM+ |
23 |
$99,325,000 |
$4,318,478 |
$5,028 |
2.69% |
$600k-1MM |
6 |
$4,410,000 |
$735,000 |
$2,715 |
3.27% |
2021 saw Westbury Bank place emphasis on
$100k-200k loans
with 267 originations, totaling
$39,615,000 in origination value.
Applicant Income
Applicant Income |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
$50k-75k |
145 |
$22,195,000 |
$153,069 |
$1,052 |
2.88% |
$100k-150k |
144 |
$31,760,000 |
$220,556 |
$1,202 |
2.78% |
$75k-100k |
142 |
$25,990,000 |
$183,028 |
$1,147 |
2.85% |
$150k-250k |
91 |
$26,505,000 |
$291,264 |
$1,397 |
2.77% |
$50k or less |
77 |
$11,555,000 |
$150,065 |
$978 |
2.82% |
$250k+ |
20 |
$8,540,000 |
$427,000 |
$1,391 |
2.81% |
Westbury Bank lent most frequently to those with incomes in the
$50k-75k range, with
145 originations.
The second most popular income band? $100k-150k,
with 144 originations.
Applicant Debt to Income Ratio
DTI Ratio |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
20-30% |
191 |
$38,225,000 |
$200,131 |
$1,214 |
2.80% |
30-36% |
127 |
$28,155,000 |
$221,693 |
$1,174 |
2.87% |
<20% |
117 |
$20,345,000 |
$173,889 |
$1,035 |
2.75% |
38% |
25 |
$6,295,000 |
$251,800 |
$1,284 |
2.91% |
37% |
24 |
$4,030,000 |
$167,917 |
$1,179 |
2.81% |
>60% |
19 |
$4,025,000 |
$211,842 |
$357 |
2.79% |
36% |
19 |
$3,565,000 |
$187,632 |
$1,291 |
2.80% |
41% |
17 |
$3,335,000 |
$196,176 |
$638 |
2.91% |
42% |
16 |
$3,340,000 |
$208,750 |
$1,061 |
3.08% |
43% |
14 |
$3,190,000 |
$227,857 |
$1,240 |
2.88% |
40% |
13 |
$2,405,000 |
$185,000 |
$1,312 |
2.92% |
44% |
11 |
$1,905,000 |
$173,182 |
$1,249 |
2.93% |
39% |
9 |
$2,025,000 |
$225,000 |
$1,073 |
2.92% |
46% |
5 |
$1,385,000 |
$277,000 |
$1,711 |
2.70% |
47% |
5 |
$1,045,000 |
$209,000 |
$1,686 |
2.78% |
49% |
5 |
$1,405,000 |
$281,000 |
$1,393 |
2.97% |
45% |
5 |
$955,000 |
$191,000 |
$1,472 |
2.48% |
48% |
3 |
$715,000 |
$238,333 |
$1,840 |
2.96% |
Westbury Bank lent most frequently to those with DTI ratios
of 20-30%, with
191 originations.
The next most common DTI ratio? 30-36%,
with 127 originations.
Ethnicity Mix
Applicant Ethnicity |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
White |
618 |
$124,220,000 |
$201,003 |
$1,153 |
2.83% |
Not applicable |
28 |
$100,540,000 |
$3,590,714 |
$0 |
2.87% |
Asian |
8 |
$2,640,000 |
$330,000 |
$971 |
2.56% |
Black |
2 |
$710,000 |
$355,000 |
$1,704 |
2.75% |
Not provided |
1 |
$85,000 |
$85,000 |
$0 |
2.88% |
Approval Rates
Total approvals of all applications
94.56%
Westbury Bank has an average approval rate.
Pick Rate
Approvals leading to origination
94.57%
Westbury Bank has an average pick rate.
Points and Fees
Points |
Originations |
Total Value |
Average Loan |
NA |
657 |
$228,195,000 |
$347,329 |
Occupancy Type Mix
Dwelling Type |
Originations |
Total Value |
Average Loan |
|
657 |
$228,195,000 |
$347,329 |
LTV Distribution
Loan to Value |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
20-40% |
108 |
$29,520,000 |
$273,333 |
$489 |
2.75% |
40-60% |
183 |
$46,735,000 |
$255,383 |
$1,030 |
2.65% |
60-80% |
255 |
$108,365,000 |
$424,961 |
$1,438 |
2.90% |
80-100% |
83 |
$41,905,000 |
$504,880 |
$1,776 |
3.03% |
Under 20% |
28 |
$1,670,000 |
$59,643 |
$57 |
3.04% |
Bank Details
Branches
Bank Name |
Branch |
Branch Type |
Deposits (000's) |
Westbury Bank |
1052 Fond Du Lac Avenue Kewaskum, WI 53040 |
Full Service B&M
|
$88,587 |
Westbury Bank |
25 S. Wacker Drive Hartford, WI 53027 |
Full Service B&M
|
$47,560 |
Westbury Bank |
2501 West Washington Street West Bend, WI 53095 |
Full Service B&M
|
$81,994 |
Westbury Bank |
N112w17171 Mequon Road Germantown, WI 53022 |
Full Service B&M
|
$92,855 |
Westbury Bank |
N16 W23250 Stone Ride Drive, Suite 5 West Bend, WI 53095 |
Full Service B&M
|
$134,697 |
Westbury Bank |
N16 W23250 Stone Ridge Drive Pewaukee, WI 53188 |
Full Service B&M
|
$172,757 |
Westbury Bank |
N168w21920 Main Street Jackson, WI 53037 |
Full Service B&M
|
$67,334 |
Westbury Bank |
1195 E. Commerce Blvd Slinger, WI 53086 |
Full Service B&M
|
$90,860 |
Westbury Bank |
17160 W North Ave Brookfield, WI 53005 |
Full Service B&M
|
$34,472 |
For 2021, Westbury Bank had 9 branches.
Yearly Performance Overview
Bank Income
Westbury Bank's gross interest income from loans was $28,164,000.
Westbury Bank's net interest income from loans was $26,941,000.
Westbury Bank's fee based income from loans was $1,272,000.
Westbury Bank's net income from loans was $9,308,000.
Bank Expenses
Item |
Value (in 000's) |
Total interest expense |
$1,223 |
Provision for credit losses |
$500 |
Total noninterest expense |
$21,614 |
Salaries and employee benefits |
$12,289 |
Premises and equipment expense |
$2,035 |
Additional noninterest expense |
$7,290 |
Applicable income taxes |
$3,625 |
Net charge-offs |
$-12 |
Cash dividends |
$9,150 |
Westbury Bank's interest expense for loans was $1,223,000.
Westbury Bank's payroll and benefits expense were $12,289,000.
Westbury Bank's property, plant and equipment expenses $2,035,000.
Deposits
Type |
Value (in 000's) |
Total deposits |
$820,588 |
Deposits held in domestic offices |
$820,588 |
Deposits by Individuals, partnerships, and corporations |
$805,759 |
Deposits by U.S. Government |
$0 |
Deposits by States and political subdivisions in the U.S. |
$14,569 |
Deposits by Commercial banks and other depository institutions in U.S. |
$261 |
Deposits by Banks in foreign countries |
$0 |
Deposits by Foreign governments and official institutions |
$0 |
Transaction accounts |
$419,221 |
Demand deposits |
$251,880 |
Nontransaction accounts |
$401,368 |
Money market deposit accounts (MMDAs) |
$107,227 |
Other savings deposits (excluding MMDAs) |
$212,133 |
Total time deposits |
$82,006 |
Total time and savings deposits |
$568,709 |
Noninterest-bearing deposits |
$251,889 |
Interest-bearing deposits |
$568,699 |
Retail deposits |
$813,100 |
IRAs and Keogh plan accounts |
$20,631 |
Brokered deposits |
$10 |
Deposits held in foreign offices |
$0 |
Assets
Asset |
Value (in 000's) |
Total Assets |
$915,250 |
Cash & Balances due from depository institutions |
$38,684 |
Interest-bearing balances |
$25,819 |
Total securities |
$167,867 |
Federal funds sold & reverse repurchase |
$0 |
Net loans and leases |
$664,778 |
Loan and leases loss allowance |
$8,997 |
Trading account assets |
$0 |
Bank premises and fixed assets |
$19,490 |
Other real estate owned |
$0 |
Goodwill and other intangibles |
$128 |
All other assets |
$24,303 |
Liabilities
Liabilities |
Value (in 000's) |
Total liabilities and capital |
$915,250 |
Total Liabilities |
$830,979 |
Total deposits |
$820,588 |
Interest-bearing deposits |
$568,699 |
Deposits held in domestic offices |
$820,588 |
% insured (estimated) |
$80 |
Federal funds purchased and repurchase agreements |
$0 |
Trading liabilities |
$0 |
Other borrowed funds |
$510 |
Subordinated debt |
$0 |
All other liabilities |
$9,881 |
Issued Loan Types
Type |
Value (in 000's) |
Net loans and leases |
$664,778 |
Loan and leases loss allowance |
$8,997 |
Total loans and leases (domestic) |
$673,775 |
All real estate loans |
$571,282 |
Real estate loans in domestic offices |
$571,282 |
Construction and development loans |
$12,269 |
Residential 1-4 family construction |
$2,523 |
Other construction, all land development and other land |
$9,746 |
Loans secured by nonfarm nonresidential properties |
$216,366 |
Nonfarm nonresidential secured by owner-occupied properties |
$83,302 |
Commercial real estate & other non-farm, non-residential |
$133,064 |
Multifamily residential real estate |
$222,095 |
1-4 family residential loans |
$120,552 |
Farmland loans |
$0 |
Loans held in foreign offices |
$0 |
Farm loans |
$0 |
Commercial and industrial loans |
$89,240 |
To non-U.S. addressees |
$0 |
Loans to individuals |
$6,355 |
Credit card loans |
$0 |
Related Plans |
$6,054 |
Consumer Auto Loans |
$251 |
Other loans to individuals |
$50 |
All other loans & leases |
$6,897 |
Loans to foreign governments and official institutions |
$0 |
Other loans |
$68 |
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 |
Westbury Bank had $664,778,000 of loans outstanding in 2021. $571,282,000 of loans were in real estate loans.
$12,269,000 of loans were in development loans. $222,095,000 of loans were in multifamily mortgage loans.
$120,552,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0
of loans were in credit card loans. $251,000 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 |
142 |
$107,802 |
$759,169 |
Nonfarm, nonresidential loans - <$100k |
2 |
$39 |
$19,500 |
Nonfarm, nonresidential loans - $100-250k |
30 |
$2,975 |
$99,167 |
Nonfarm, nonresidential loans - $250k-1MM |
110 |
$104,788 |
$952,618 |
Commercial & Industrial, US addressed loans - <$1MM |
199 |
$59,875 |
$300,879 |
Commercial & Industrial, US addressed loans - <$100k |
101 |
$2,966 |
$29,366 |
Commercial & Industrial, US addressed loans - $100-250k |
38 |
$4,214 |
$110,895 |
Commercial & Industrial, US addressed loans - $250k-1MM |
60 |
$52,695 |
$878,250 |