Westbury Bank Mortgage Rates, Fees & Info

Waukesha, WI

LEI: 5493002XHCZ94X8YST31

Tax ID: 39-0698030

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Mortgage Data

Bank 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.52% 3/28/24
30 Year Conventional Refi 6.58% 3/28/24
30 Year Cash-out Refi 6.62% 3/28/24
30 Year FHA Purchase 6.48% 3/28/24
30 Year VA Purchase 6.40% 3/28/24
15 Year Conventional Purchase 5.54% 3/28/24
15 Year Conventional Refi 5.71% 3/28/24
15 Year Cash-out Refi 5.71% 3/28/24
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






Your Estimates

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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 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.

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    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