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 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, Detroit, and Fond Du Lac among others. We have data for 18 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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The default purchase price is the median sales price across the US for 2022Q4, per FRED.

Originations

701

Origination Dollar Volume (All Markets)

$196,675,000

Employee count

107

Awards

Westbury Bank 30 Year Conventional Loans silver

Westbury Bank 30 Year Conventional Loans gold

Show all (7) 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)	557	$140,455,000	$252,163	$1,385	2.99%
MADISON, WI (FHA\|USDA\|VA)	24	$15,950,000	$664,583	$1,459	3.55%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA\|USDA\|VA)	1	$7,345,000	$7,345,000	$0	3.80%
Detroit-Warren-Dearborn, MI (FHA\|USDA\|VA)	2	$7,140,000	$3,570,000	$0	3.90%
FOND DU LAC, WI (FHA\|USDA\|VA)	31	$6,355,000	$205,000	$1,319	3.02%
Beaver Dam, WI (FHA\|USDA\|VA)	28	$5,400,000	$192,857	$1,277	3.09%
Outside of Metro Areas	18	$4,160,000	$231,111	$1,256	3.25%
SHEBOYGAN, WI (FHA\|USDA\|VA)	14	$2,900,000	$207,143	$1,604	3.03%
RACINE, WI (FHA\|USDA\|VA)	4	$2,280,000	$570,000	$1,559	2.85%
SUMTER, SC (FHA\|USDA\|VA)	1	$1,135,000	$1,135,000	$0	4.00%
OSHKOSH-NEENAH, WI (FHA\|USDA\|VA)	7	$905,000	$129,286	$1,209	3.07%
GREEN BAY, WI (FHA\|USDA\|VA)	3	$605,000	$201,667	$1,644	2.63%
Shawano, WI (FHA\|USDA\|VA)	3	$505,000	$168,333	$1,022	2.54%
Whitewater, WI (FHA\|USDA\|VA)	3	$485,000	$161,667	$1,465	3.13%
DULUTH, MN-WI (FHA\|USDA\|VA)	1	$315,000	$315,000	$1,752	2.88%
NAPLES-MARCO ISLAND, FL (FHA\|USDA\|VA)	1	$305,000	$305,000	$0	4.50%
Watertown-Fort Atkinson, WI (FHA\|USDA\|VA)	2	$280,000	$140,000	$821	2.56%
APPLETON, WI (FHA\|USDA\|VA)	1	$155,000	$155,000	$1,503	3.13%

Westbury Bank's top markets include Milwaukee, Madison, Minneapolis, Detroit, and Fond Du Lac among others.

Their top states include:

Wisconsin (FHA|USDA|VA)

Michigan (FHA|USDA|VA)

South Carolina (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.

VERVE, A CREDIT UNION
Similarity Rank: 275

The Greenwood's State Bank
Similarity Rank: 432

Empower Credit Union
Similarity Rank: 459

Hometown Bank
Similarity Rank: 480

Horicon Bank
Similarity Rank: 880

Westbury Bank
Similarity Rank: 900

Guardian Credit Union
Similarity Rank: 999

NORTHWESTERN MUTUAL
Similarity Rank: 1016

State Bank of Cross Plains
Similarity Rank: 1120

Commerce State Bank
Similarity Rank: 1292

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	696	$195,470,000	$280,848	$1,366	3.02%
VA	3	$845,000	$281,667	$1,718	2.92%
FHA	2	$360,000	$180,000	$4,867	2.81%

For 2020, Westbury Bank's most frequently originated type of loan was Conventional, with 696 originations. Their 2nd most popular type was VA, with 3 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Refi	406	$131,360,000	$323,547	$1,291	2.85%
Cash Out Refi	160	$30,380,000	$189,875	$1,292	3.23%
Home Purchase	126	$33,980,000	$269,683	$1,884	3.22%
Other	5	$795,000	$159,000	$878	3.73%
Home Improvement	4	$160,000	$40,000	$100	5.03%

For 2020, Westbury Bank's most frequently cited loan purpose was Refi, with 406 originations. The 2nd most popular reason was Cash Out Refi, with 160 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	400	$98,870,000	$247,175	$1,495	3.05%
15 Year	196	$38,160,000	$194,694	$1,278	2.72%
20 Year	33	$7,375,000	$223,485	$1,359	3.22%
10 Year	32	$2,610,000	$81,563	$397	3.40%
Other	21	$28,745,000	$1,368,810	$1,936	3.69%
5 Year	12	$17,710,000	$1,475,833	$100	3.98%
30+ year	5	$2,175,000	$435,000	$2,236	3.75%
1 Year	2	$1,030,000	$515,000	$0	3.38%

For 2020, Westbury Bank's most frequently cited loan duration was 30 Year, with 400 originations. The 2nd most popular length was 15 Year, with 196 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	644	$143,450,000	$222,748
$1k-2k	7	$1,895,000	$270,714
$2k-3k	3	$635,000	$211,667

Westbury Bank's average total fees were $1,495, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 644 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
2.5-3%	339	$80,165,000	$236,475
3-4%	244	$94,960,000	$389,180
<2.5%	103	$19,815,000	$192,379
4-5%	11	$1,605,000	$145,909
5-6%	4	$130,000	$32,500

During 2020, Westbury Bank's average interest rate for loans was 3.05%, while their most frequently originated rate bucket for loans was 2.5-3%, with 339 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	301	$84,115,000	$279,452	$1,403	2.96%
$100k-200k	266	$41,000,000	$154,135	$1,499	2.94%
$100,000 or less	72	$5,000,000	$69,444	$699	3.44%
$400k-600k	49	$22,575,000	$460,714	$1,620	3.05%
$1MM+	9	$40,975,000	$4,552,778	$650	3.63%
$600k-1MM	4	$3,010,000	$752,500	$1,131	3.49%

2020 saw Westbury Bank place emphasis on $200k-400k loans with 301 originations, totaling $84,115,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	186	$47,040,000	$252,903	$1,431	2.95%
$75k-100k	141	$28,075,000	$199,113	$1,443	3.03%
$50k-75k	135	$22,275,000	$165,000	$1,411	3.02%
$150k-250k	106	$31,150,000	$293,868	$1,421	2.95%
$50k or less	73	$10,795,000	$147,877	$1,035	3.04%
$250k+	22	$7,620,000	$346,364	$1,349	2.80%

Westbury Bank lent most frequently to those with incomes in the $100k-150k range, with 186 originations. The second most popular income band? $75k-100k, with 141 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	225	$51,435,000	$228,600	$1,417	2.95%
30-36%	138	$29,180,000	$211,449	$1,451	3.00%
<20%	126	$26,900,000	$213,492	$1,298	2.88%
>60%	25	$7,525,000	$301,000	$403	3.01%
42%	25	$6,015,000	$240,600	$1,543	3.08%
41%	18	$2,820,000	$156,667	$1,427	3.38%
38%	16	$3,010,000	$188,125	$1,485	2.99%
39%	15	$3,995,000	$266,333	$1,234	3.07%
40%	15	$3,555,000	$237,000	$1,772	3.17%
36%	15	$3,095,000	$206,333	$1,209	3.04%
37%	12	$2,980,000	$248,333	$1,557	2.98%
43%	11	$2,165,000	$196,818	$1,209	3.16%
44%	10	$2,420,000	$242,000	$1,724	3.11%
45%	6	$1,560,000	$260,000	$1,573	3.08%
46%	4	$730,000	$182,500	$1,675	3.16%
48%	4	$1,220,000	$305,000	$1,727	3.22%
47%	2	$700,000	$350,000	$1,416	3.00%
49%	1	$135,000	$135,000	$1,235	2.50%

Westbury Bank lent most frequently to those with DTI ratios of 20-30%, with 225 originations. The next most common DTI ratio? 30-36%, with 138 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	644	$141,020,000	$218,975	$1,397	3.00%
Not applicable	27	$45,965,000	$1,702,407	$0	3.73%
Asian	25	$8,445,000	$337,800	$820	2.76%
Not provided	3	$985,000	$328,333	$582	2.88%
Black	2	$260,000	$130,000	$3,349	2.63%

Approval Rates

Total approvals of all applications
95.95%

Westbury Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
96.01%

Westbury Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	701	$196,675,000	$280,563

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	13	$42,065,000	$3,235,769
Single Family (1-4 Units):Site-Built	688	$154,610,000	$224,724

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	64	$7,980,000	$124,688	$941	3.08%
40-60%	143	$39,385,000	$275,420	$1,323	2.84%
60-80%	345	$112,265,000	$325,406	$1,424	3.03%
80-100%	129	$34,845,000	$270,116	$1,639	3.05%
Over 100%	3	$1,535,000	$511,667	$2,587	3.46%
Under 20%	17	$665,000	$39,118	$412	3.93%

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	$71,693
Westbury Bank	1195 E. Commerce Blvd Slinger, WI 53086	Full Service B&M	$78,483
Westbury Bank	17160 W North Ave Brookfield, WI 53005	Full Service B&M	$36,197
Westbury Bank	1900 South 18th Avenue West Bend, WI 53095	Limited, Mobile/Seasonal Office	$0
Westbury Bank	25 S. Wacker Drive Hartford, WI 53027	Full Service B&M	$45,021
Westbury Bank	2501 West Washington Street West Bend, WI 53095	Full Service B&M	$71,112
Westbury Bank	551 W Main St Madison, WI 53703	Limited, Drive-thru	$4,460
Westbury Bank	N112w17171 Mequon Road Germantown, WI 53022	Full Service B&M	$86,311
Westbury Bank	N16 W23250 Stone Ride Drive, Suite 5 West Bend, WI 53095	Full Service B&M	$131,077
Westbury Bank	N16 W23250 Stone Ridge Drive Waukesha, WI 53188	Full Service B&M	$206,450
Westbury Bank	N168w21920 Main Street Jackson, WI 53037	Full Service B&M	$59,432

For 2020, Westbury Bank had 11 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$30,232
Net interest income	$26,883
Total noninterest income	$7,856
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$1,266
Trading account gains and fees	$0
Additional Noninterest Income	$6,590
Pre-tax net operating income	$10,961
Securities gains (or losses, -)	$667
Income before extraordinary items	$8,420
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$8,420
Minority interest net income	$0
Net income	$8,420
Sale, conversion, retirement of capital stock, net	$1,169
Net operating income	$7,893

Westbury Bank's gross interest income from loans was $30,232,000.
Westbury Bank's net interest income from loans was $26,883,000.
Westbury Bank's fee based income from loans was $1,266,000.
Westbury Bank's net income from loans was $8,420,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$3,349
Provision for credit losses	$1,765
Total noninterest expense	$22,013
Salaries and employee benefits	$12,360
Premises and equipment expense	$1,957
Additional noninterest expense	$7,696
Applicable income taxes	$3,208
Net charge-offs	$266
Cash dividends	$7,985

Westbury Bank's interest expense for loans was $3,349,000.
Westbury Bank's payroll and benefits expense were $12,360,000.
Westbury Bank's property, plant and equipment expenses $1,957,000.

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	$805,308
Deposits held in domestic offices	$805,308
Deposits by Individuals, partnerships, and corporations	$785,704
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$15,129
Deposits by Commercial banks and other depository institutions in U.S.	$4,476
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$393,326
Demand deposits	$234,347
Nontransaction accounts	$411,983
Money market deposit accounts (MMDAs)	$123,758
Other savings deposits (excluding MMDAs)	$182,341
Total time deposits	$105,883
Total time and savings deposits	$570,962
Noninterest-bearing deposits	$234,369
Interest-bearing deposits	$570,939
Retail deposits	$789,903
IRAs and Keogh plan accounts	$22,821
Brokered deposits	$655
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$907,544
Cash & Balances due from depository institutions	$96,192
Interest-bearing balances	$84,721
Total securities	$107,804
Federal funds sold & reverse repurchase	$0
Net loans and leases	$656,010
Loan and leases loss allowance	$8,485
Trading account assets	$0
Bank premises and fixed assets	$20,562
Other real estate owned	$3,438
Goodwill and other intangibles	$286
All other assets	$23,252

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$907,544
Total Liabilities	$822,672
Total deposits	$805,308
Interest-bearing deposits	$570,939
Deposits held in domestic offices	$805,308
% insured (estimated)	$78
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$5,064
Subordinated debt	$0
All other liabilities	$12,300

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$656,010
Loan and leases loss allowance	$8,485
Total loans and leases (domestic)	$664,495
All real estate loans	$551,723
Real estate loans in domestic offices	$551,723
Construction and development loans	$24,868
Residential 1-4 family construction	$36
Other construction, all land development and other land	$24,832
Loans secured by nonfarm nonresidential properties	$231,684
Nonfarm nonresidential secured by owner-occupied properties	$73,532
Commercial real estate & other non-farm, non-residential	$158,152
Multifamily residential real estate	$158,731
1-4 family residential loans	$136,440
Farmland loans	$0
Loans held in foreign offices	$0
Farm loans	$0
Commercial and industrial loans	$104,740
To non-U.S. addressees	$0
Loans to individuals	$6,317
Credit card loans	$0
Related Plans	$5,833
Consumer Auto Loans	$428
Other loans to individuals	$56
All other loans & leases	$1,715
Loans to foreign governments and official institutions	$0
Other loans	$54
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 $656,010,000 of loans outstanding in 2020. $551,723,000 of loans were in real estate loans. $24,868,000 of loans were in development loans. $158,731,000 of loans were in multifamily mortgage loans. $136,440,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $428,000 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	352	$110,721	$314,548
Nonfarm, nonresidential loans - <$100k	35	$119	$3,400
Nonfarm, nonresidential loans - $100-250k	91	$4,090	$44,945
Nonfarm, nonresidential loans - $250k-1MM	226	$106,512	$471,292
Commercial & Industrial, US addressed loans - <$1MM	505	$67,640	$133,941
Commercial & Industrial, US addressed loans - <$100k	359	$8,114	$22,602
Commercial & Industrial, US addressed loans - $100-250k	62	$7,547	$121,726
Commercial & Industrial, US addressed loans - $250k-1MM	84	$51,979	$618,798