Westbury Bank Mortgage Rates, Fees & Info

Waukesha, WI

LEI: 5493002XHCZ94X8YST31

Tax ID: 39-0698030

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

Review & Overview

Westbury Bank is a smaller bank specializing in Home Purchase and Refi 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 by origination volume include: Milwaukee, Madison, Minneapolis, Watertown, and Mansfield among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)

Westbury 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. Westbury 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.

SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
30 Year Conventional Purchase	6.52%	12/16/24
30 Year Conventional Refi	6.58%	12/16/24
30 Year Cash-out Refi	6.62%	12/16/24
30 Year FHA Purchase	6.48%	12/16/24
30 Year VA Purchase	6.40%	12/16/24
15 Year Conventional Purchase	5.54%	12/16/24
15 Year Conventional Refi	5.71%	12/16/24
15 Year Cash-out Refi	5.71%	12/16/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Westbury Bank Mortgage Calculator

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This is not an official calculator from Westbury Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.

Originations

412

Origination Dollar Volume (All Markets)

$131,180,000

Employee count

115

Awards

Westbury Bank 30 Year Conventional Loans silver

Westbury Bank 30 Year Conventional Loans gold

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)	341	$73,745,000	$216,261	$1,415	3.91%
MADISON, WI (FHA\|USDA\|VA)	7	$18,805,000	$2,686,429	$1,459	3.92%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA\|USDA\|VA)	1	$7,325,000	$7,325,000	$0	4.40%
Watertown-Fort Atkinson, WI (FHA\|USDA\|VA)	3	$5,185,000	$1,728,333	$1,285	3.88%
MANSFIELD, OH (FHA\|USDA\|VA)	1	$3,745,000	$3,745,000	$0	4.82%
GREEN BAY, WI (FHA\|USDA\|VA)	2	$3,670,000	$1,835,000	$0	4.24%
Beaver Dam, WI (FHA\|USDA\|VA)	19	$3,465,000	$182,368	$1,501	3.80%
DAYTON-KETTERING, OH (FHA\|USDA\|VA)	1	$2,895,000	$2,895,000	$0	4.90%
FOND DU LAC, WI (FHA\|USDA\|VA)	13	$2,655,000	$204,231	$1,316	4.00%
Wisconsin Rapids-Marshfield, WI (FHA\|USDA\|VA)	1	$2,565,000	$2,565,000	$0	3.70%
NAPLES-MARCO ISLAND, FL (FHA\|USDA\|VA)	1	$2,505,000	$2,505,000	$0	4.75%
RACINE, WI (FHA\|USDA\|VA)	5	$1,445,000	$289,000	$1,782	3.86%
SHEBOYGAN, WI (FHA\|USDA\|VA)	5	$845,000	$169,000	$1,378	4.45%
Outside of Metro Areas	4	$770,000	$192,500	$1,306	3.63%
Shawano, WI (FHA\|USDA\|VA)	2	$440,000	$220,000	$2,032	3.25%
Whitewater, WI (FHA\|USDA\|VA)	2	$440,000	$220,000	$1,821	3.63%
OSHKOSH-NEENAH, WI (FHA\|USDA\|VA)	2	$280,000	$140,000	$2,687	3.19%
Chicago-Naperville-Elgin, IL-IN-WI (FHA\|USDA\|VA)	1	$225,000	$225,000	$1,716	4.13%
APPLETON, WI (FHA\|USDA\|VA)	1	$175,000	$175,000	$1,319	4.00%

Westbury Bank's top markets include Milwaukee, Madison, Minneapolis, Watertown, and Mansfield among others.

Their top states include:

Wisconsin (FHA|USDA|VA)

Ohio (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Similar Lenders

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

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Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	401	$128,885,000	$321,409	$1,351	3.91%
VA	6	$1,180,000	$196,667	$3,123	3.81%
FHA	5	$1,115,000	$223,000	$5,531	3.75%

For 2019, Westbury Bank's most frequently originated type of loan was Conventional, with 401 originations. Their 2nd most popular type was VA, with 6 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	154	$73,780,000	$479,091	$1,992	3.87%
Refi	120	$38,340,000	$319,500	$1,342	3.66%
Cash Out Refi	70	$11,940,000	$170,571	$1,178	3.97%
Home Improvement	40	$5,290,000	$132,250	$817	4.28%
Other	28	$1,830,000	$65,357	$282	4.55%

For 2019, Westbury Bank's most frequently cited loan purpose was Home Purchase, with 154 originations. The 2nd most popular reason was Refi, with 120 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	236	$53,590,000	$227,076	$1,719	3.84%
15 Year	73	$13,165,000	$180,342	$1,220	3.50%
10 Year	41	$2,615,000	$63,780	$39	4.57%
30+ year	17	$7,375,000	$433,824	$2,384	4.11%
5 Year	16	$40,290,000	$2,518,125	$0	4.41%
20 Year	15	$2,725,000	$181,667	$1,372	3.81%
Other	8	$5,750,000	$718,750	$1,088	4.54%
3 Year	4	$3,010,000	$752,500	$0	4.63%
1 Year	2	$2,660,000	$1,330,000	$0	5.08%

For 2019, Westbury Bank's most frequently cited loan duration was 30 Year, with 236 originations. The 2nd most popular length was 15 Year, with 73 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	388	$79,320,000	$204,433
$1k-2k	3	$665,000	$221,667
$2k-3k	1	$175,000	$175,000

Westbury Bank's average total fees were $1,719, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 388 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
3-4%	283	$70,205,000	$248,074
4-5%	94	$56,420,000	$600,213
5-6%	23	$1,695,000	$73,696
2.5-3%	10	$2,720,000	$272,000
6-7%	2	$140,000	$70,000

During 2019, Westbury Bank's average interest rate for loans was 3.84%, while their most frequently originated rate bucket for loans was 3-4%, with 283 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	158	$44,290,000	$280,316	$1,768	3.67%
$100k-200k	137	$20,495,000	$149,599	$1,576	3.80%
$100,000 or less	80	$4,140,000	$51,750	$336	4.49%
$400k-600k	20	$9,120,000	$456,000	$1,697	3.88%
$1MM+	12	$49,330,000	$4,110,833	$0	4.31%
$600k-1MM	5	$3,805,000	$761,000	$2,381	4.34%

2019 saw Westbury Bank place emphasis on $200k-400k loans with 158 originations, totaling $44,290,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	99	$23,145,000	$233,788	$1,436	3.80%
$75k-100k	99	$20,015,000	$202,172	$1,546	3.93%
$50k-75k	79	$11,445,000	$144,873	$1,367	3.96%
$50k or less	51	$5,285,000	$103,627	$1,329	3.86%
$150k-250k	49	$14,365,000	$293,163	$1,438	3.86%
$250k+	16	$5,630,000	$351,875	$1,417	3.99%

Westbury Bank lent most frequently to those with incomes in the $100k-150k range, with 99 originations. The second most popular income band? $75k-100k, with 99 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	129	$25,195,000	$195,310	$1,382	3.89%
30-36%	92	$21,450,000	$233,152	$1,518	3.88%
<20%	41	$7,035,000	$171,585	$1,225	3.62%
41%	24	$5,440,000	$226,667	$1,518	4.18%
37%	16	$2,980,000	$186,250	$1,715	3.86%
36%	14	$2,790,000	$199,286	$1,192	3.79%
39%	13	$2,675,000	$205,769	$1,401	4.20%
42%	12	$2,080,000	$173,333	$1,261	4.17%
40%	11	$1,945,000	$176,818	$1,102	4.40%
38%	11	$1,735,000	$157,727	$1,290	3.95%
45%	6	$1,580,000	$263,333	$1,646	3.77%
43%	5	$895,000	$179,000	$2,756	3.38%
>60%	4	$600,000	$150,000	$300	3.81%
44%	4	$750,000	$187,500	$1,567	4.16%
47%	4	$830,000	$207,500	$1,126	3.53%
50-60%	3	$945,000	$315,000	$2,836	3.71%
46%	3	$675,000	$225,000	$1,591	3.63%
48%	2	$340,000	$170,000	$1,665	3.75%
49%	2	$410,000	$205,000	$2,052	3.31%

Westbury Bank lent most frequently to those with DTI ratios of 20-30%, with 129 originations. The next most common DTI ratio? 30-36%, with 92 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	386	$77,390,000	$200,492	$1,418	3.91%
Not applicable	15	$50,385,000	$3,359,000	$0	4.34%
Asian	11	$3,405,000	$309,545	$1,757	3.44%

Approval Rates

Total approvals of all applications
94.66%

Westbury Bank has an average approval rate.

Pick Rate

Approvals leading to origination
93.45%

Westbury Bank has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	412	$131,180,000	$318,398

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	12	$47,550,000	$3,962,500
Single Family (1-4 Units):Site-Built	400	$83,630,000	$209,075

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	35	$3,545,000	$101,286	$699	4.08%
40-60%	70	$16,140,000	$230,571	$1,381	3.70%
60-80%	150	$52,360,000	$349,067	$1,566	3.74%
80-100%	110	$55,400,000	$503,636	$1,882	3.91%
Over 100%	6	$2,110,000	$351,667	$3,547	4.10%
Under 20%	41	$1,625,000	$39,634	$114	4.71%

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	$65,115
Westbury Bank	1195 E. Commerce Blvd Slinger, WI 53086	Full Service B&M	$70,381
Westbury Bank	17160 W North Ave Brookfield, WI 53005	Full Service B&M	$195,910
Westbury Bank	200 South Main Street West Bend, WI 53095	Full Service B&M	$132,404
Westbury Bank	25 S. Wacker Drive Hartford, WI 53027	Full Service B&M	$45,096
Westbury Bank	2501 West Washington Street West Bend, WI 53095	Full Service B&M	$71,081
Westbury Bank	551 W Main St Madison, WI 53703	Limited, Drive-thru	$8,303
Westbury Bank	810 Cardinal Lane Suite 210 Hartland, WI 53029	Limited, Mobile/Seasonal Office	$0
Westbury Bank	N112w17171 Mequon Road Germantown, WI 53022	Full Service B&M	$80,193
Westbury Bank	N168w21920 Main Street Jackson, WI 53037	Full Service B&M	$56,947

For 2019, Westbury Bank had 10 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$32,551
Net interest income	$26,053
Total noninterest income	$5,828
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$1,793
Trading account gains and fees	$0
Additional Noninterest Income	$4,035
Pre-tax net operating income	$10,255
Securities gains (or losses, -)	$-49
Income before extraordinary items	$7,403
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$7,403
Minority interest net income	$0
Net income	$7,403
Sale, conversion, retirement of capital stock, net	$1,463
Net operating income	$7,441

Westbury Bank's gross interest income from loans was $32,551,000.
Westbury Bank's net interest income from loans was $26,053,000.
Westbury Bank's fee based income from loans was $1,793,000.
Westbury Bank's net income from loans was $7,403,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$6,498
Provision for credit losses	$460
Total noninterest expense	$21,166
Salaries and employee benefits	$12,636
Premises and equipment expense	$1,843
Additional noninterest expense	$6,687
Applicable income taxes	$2,803
Net charge-offs	$-43
Cash dividends	$7,037

Westbury Bank's interest expense for loans was $6,498,000.
Westbury Bank's payroll and benefits expense were $12,636,000.
Westbury Bank's property, plant and equipment expenses $1,843,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	1.0%
Real Estate loans	1.0%
Construction & Land Development loans	0.0%
Nonfarm, nonresidential loans	3.0%
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	$720,403
Deposits held in domestic offices	$720,403
Deposits by Individuals, partnerships, and corporations	$677,656
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$25,019
Deposits by Commercial banks and other depository institutions in U.S.	$17,727
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$312,429
Demand deposits	$142,454
Nontransaction accounts	$407,973
Money market deposit accounts (MMDAs)	$103,459
Other savings deposits (excluding MMDAs)	$151,748
Total time deposits	$152,768
Total time and savings deposits	$577,948
Noninterest-bearing deposits	$142,501
Interest-bearing deposits	$577,902
Retail deposits	$696,849
IRAs and Keogh plan accounts	$24,436
Brokered deposits	$900
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$831,386
Cash & Balances due from depository institutions	$20,620
Interest-bearing balances	$10,353
Total securities	$102,076
Federal funds sold & reverse repurchase	$0
Net loans and leases	$664,645
Loan and leases loss allowance	$6,986
Trading account assets	$0
Bank premises and fixed assets	$20,310
Other real estate owned	$0
Goodwill and other intangibles	$430
All other assets	$23,305

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$831,387
Total Liabilities	$749,225
Total deposits	$720,403
Interest-bearing deposits	$577,902
Deposits held in domestic offices	$720,403
% insured (estimated)	$82
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$19,618
Subordinated debt	$0
All other liabilities	$9,204

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$664,645
Loan and leases loss allowance	$6,986
Total loans and leases (domestic)	$671,631
All real estate loans	$587,653
Real estate loans in domestic offices	$587,653
Construction and development loans	$31,590
Residential 1-4 family construction	$3,445
Other construction, all land development and other land	$28,145
Loans secured by nonfarm nonresidential properties	$246,579
Nonfarm nonresidential secured by owner-occupied properties	$87,886
Commercial real estate & other non-farm, non-residential	$158,693
Multifamily residential real estate	$135,409
1-4 family residential loans	$174,075
Farmland loans	$0
Loans held in foreign offices	$0
Farm loans	$0
Commercial and industrial loans	$73,943
To non-U.S. addressees	$0
Loans to individuals	$6,037
Credit card loans	$0
Related Plans	$5,518
Consumer Auto Loans	$448
Other loans to individuals	$71
All other loans & leases	$3,998
Loans to foreign governments and official institutions	$0
Other loans	$170
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	$75
Non 1-4 family restructured loans & leases	$0
Total loans and leases (foreign)	$0

Westbury Bank had $664,645,000 of loans outstanding in 2019. $587,653,000 of loans were in real estate loans. $31,590,000 of loans were in development loans. $135,409,000 of loans were in multifamily mortgage loans. $174,075,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $448,000 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	321	$120,670	$375,919
Nonfarm, nonresidential loans - <$100k	33	$167	$5,061
Nonfarm, nonresidential loans - $100-250k	89	$5,257	$59,067
Nonfarm, nonresidential loans - $250k-1MM	199	$115,246	$579,126
Commercial & Industrial, US addressed loans - <$1MM	155	$49,524	$319,510
Commercial & Industrial, US addressed loans - <$100k	63	$2,283	$36,238
Commercial & Industrial, US addressed loans - $100-250k	33	$4,128	$125,091
Commercial & Industrial, US addressed loans - $250k-1MM	59	$43,113	$730,729