Town Bank N.a. Mortgage Rates, Fees & Info

Hartland, WI

LEI: 54930037K28BC4GVBU20

Tax ID: 39-1934783

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Mortgage Data

Bank Data

Review & Overview

Town Bank N.a. is a smaller bank specializing in Home Purchase and Refi loans. Town Bank N.a. has a high proportion of conventional loans. Their top markets by origination volume include: Milwaukee, Madison, Dayton, Green Bay, and Naples among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)

Town Bank N.a. has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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Originations

111

Origination Dollar Volume (All Markets)

$77,005,000

Employee count

178

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) 58 $22,090,000 $380,862 $0 0.00%
MADISON, WI (FHA|USDA|VA) 24 $17,280,000 $720,000 $0 0.00%
DAYTON-KETTERING, OH (FHA|USDA|VA) 1 $14,645,000 $14,645,000 $0 0.00%
GREEN BAY, WI (FHA|USDA|VA) 1 $7,505,000 $7,505,000 $0 0.00%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $3,025,000 $3,025,000 $0 0.00%
RACINE, WI (FHA|USDA|VA) 9 $2,775,000 $308,333 $0 0.00%
Whitewater, WI (FHA|USDA|VA) 5 $2,305,000 $461,000 $0 0.00%
Oskaloosa, IA (FHA|USDA|VA) 1 $1,955,000 $1,955,000 $0 0.00%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $1,165,000 $1,165,000 $0 0.00%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 3 $1,125,000 $375,000 $0 0.00%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $1,085,000 $1,085,000 $0 0.00%
JANESVILLE-BELOIT, WI (FHA|USDA|VA) 2 $720,000 $360,000 $0 0.00%
Outside of Metro Areas 1 $705,000 $705,000 $0 0.00%
Beaver Dam, WI (FHA|USDA|VA) 2 $560,000 $280,000 $0 0.00%
ROCKFORD, IL (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
Town Bank N.a.'s top markets include Milwaukee, Madison, Dayton, Green Bay, and Naples among others.

Their top states include:
  • Wisconsin (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 111 $77,005,000 $693,739 $0 0.00%

    For 2021, Town Bank N.a.'s most frequently originated type of loan was Conventional, with 111 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 71 $35,915,000 $505,845 $0 0.00%
    Refi 36 $38,280,000 $1,063,333 $0 0.00%
    Cash Out Refi 3 $2,355,000 $785,000 $0 0.00%
    Home Improvement 1 $455,000 $455,000 $0 0.00%

    For 2021, Town Bank N.a.'s most frequently cited loan purpose was Home Purchase, with 71 originations. The 2nd most popular reason was Refi, with 36 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 111 $77,005,000 $693,739 $0 0.00%

    For 2021, Town Bank N.a.'s most frequently cited loan duration was Other, with 111 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 27 $3,665,000 $135,741 $0 0.00%
    $600k-1MM 25 $19,765,000 $790,600 $0 0.00%
    $100,000 or less 17 $1,335,000 $78,529 $0 0.00%
    $200k-400k 15 $4,445,000 $296,333 $0 0.00%
    $400k-600k 15 $7,545,000 $503,000 $0 0.00%
    $1MM+ 12 $40,250,000 $3,354,167 $0 0.00%

    2021 saw Town Bank N.a. place emphasis on $100k-200k loans with 27 originations, totaling $3,665,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 25 $2,715,000 $108,600 $0 0.00%
    $250k+ 23 $24,045,000 $1,045,435 $0 0.00%
    $150k-250k 19 $12,295,000 $647,105 $0 0.00%
    $50k-75k 6 $1,180,000 $196,667 $0 0.00%
    $100k-150k 3 $1,225,000 $408,333 $0 0.00%
    $75k-100k 2 $750,000 $375,000 $0 0.00%

    Town Bank N.a. lent most frequently to those with incomes in the $50k or less range, with 25 originations. The second most popular income band? $250k+, with 23 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 111 $77,005,000 $693,739 $0 0.00%

    Town Bank N.a. lent most frequently to those with DTI ratios of Exempt%, with 111 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 49 $35,635,000 $727,245 $0 0.00%
    Not applicable 29 $33,625,000 $1,159,483 $0 0.00%
    Black 28 $5,050,000 $180,357 $0 0.00%
    Not provided 5 $2,695,000 $539,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.59%

    Town Bank N.a. has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.19%

    Town Bank N.a. has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 111 $77,005,000 $693,739

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    111 $77,005,000 $693,739

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    TOWNEBANK Conventional home mortgage Closing on a mortgage 1 50.0%
    TOWNEBANK VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Town Bank, National Association 10 West Mifflin Street Madison, WI 53703 Full Service B&M $60,870
    Town Bank, National Association 1102 West Wells Street Milwaukee, WI 53233 Full Service B&M $1,500
    Town Bank, National Association 13150 Watertown Plank Road Elm Grove, WI 53122 Full Service B&M $103,510
    Town Bank, National Association 140 South 1st Street Milwaukee, WI 53204 Full Service B&M $118,623
    Town Bank, National Association 1442 West Wisconsin Avenue Milwaukee, WI 53233 Full Service B&M $41,955
    Town Bank, National Association 1605 W Mitchell St Milwaukee, WI 53204 Full Service B&M $7,108
    Town Bank, National Association 400 Genesee Street Delafield, WI 53018 Full Service B&M $525,084
    Town Bank, National Association 400 Milwaukee Ave Burlington, WI 53105 Full Service B&M $158,203
    Town Bank, National Association 401 East Kilbourn Avenue Milwaukee, WI 53202 Full Service B&M $284,299
    Town Bank, National Association 4732 West Lisbon Avenue Milwaukee, WI 53208 Full Service B&M $4,282
    Town Bank, National Association 5005 East Washington Avenue Racine, WI 53406 Full Service B&M $35,657
    Town Bank, National Association 501 Ogden Avenue Clinton, WI 53525 Full Service B&M $46,199
    Town Bank, National Association 511 North Wales Road Wales, WI 53183 Full Service B&M $53,349
    Town Bank, National Association 550 Commercial Court Lake Geneva, WI 53147 Full Service B&M $36,430
    Town Bank, National Association 567 Broad Street Lake Geneva, WI 53147 Full Service B&M $98,656
    Town Bank, National Association 671 Kenosha Street Walworth, WI 53184 Full Service B&M $70,265
    Town Bank, National Association 7998 South Loomis Road Wind Lake, WI 53185 Full Service B&M $73,200
    Town Bank, National Association 820 East Geneva Street Delavan, WI 53115 Full Service B&M $105,290
    Town Bank, National Association 850 West North Shore Drive Hartland, WI 53029 Full Service B&M $509,309
    Town Bank, National Association N35 W23877 Highfield Court, Suite 100 Pewaukee, WI 53072 Full Service B&M $160,365
    Town Bank, National Association N72 W13435 Jacob Lane Menomonee Falls, WI 53051 Full Service B&M $118,549

    For 2021, Town Bank N.a. had 21 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $71,886
    Net interest income $65,425
    Total noninterest income $13,448
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $3,380
    Trading account gains and fees $662
    Additional Noninterest Income $9,406
    Pre-tax net operating income $36,775
    Securities gains (or losses, -) $-132
    Income before extraordinary items $26,949
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $26,949
    Minority interest net income $0
    Net income $26,949
    Sale, conversion, retirement of capital stock, net $401
    Net operating income $27,053

    Town Bank N.a.'s gross interest income from loans was $71,886,000.
    Town Bank N.a.'s net interest income from loans was $65,425,000.
    Town Bank N.a.'s fee based income from loans was $3,380,000.
    Town Bank N.a.'s net income from loans was $26,949,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $6,461
    Provision for credit losses $-6,431
    Total noninterest expense $48,529
    Salaries and employee benefits $21,861
    Premises and equipment expense $5,157
    Additional noninterest expense $21,511
    Applicable income taxes $9,694
    Net charge-offs $503
    Cash dividends $0

    Town Bank N.a.'s interest expense for loans was $6,461,000.
    Town Bank N.a.'s payroll and benefits expense were $21,861,000.
    Town Bank N.a.'s property, plant and equipment expenses $5,157,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    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 $2,937,848
    Deposits held in domestic offices $2,937,848
    Deposits by Individuals, partnerships, and corporations $2,754,759
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $176,524
    Deposits by Commercial banks and other depository institutions in U.S. $6,565
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $1,414,765
    Demand deposits $1,279,154
    Nontransaction accounts $1,523,083
    Money market deposit accounts (MMDAs) $1,112,743
    Other savings deposits (excluding MMDAs) $217,221
    Total time deposits $193,119
    Total time and savings deposits $1,658,694
    Noninterest-bearing deposits $878,832
    Interest-bearing deposits $2,059,016
    Retail deposits $2,676,403
    IRAs and Keogh plan accounts $20,685
    Brokered deposits $202,449
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $3,426,753
    Cash & Balances due from depository institutions $457,644
    Interest-bearing balances $438,946
    Total securities $534,140
    Federal funds sold & reverse repurchase $125,003
    Net loans and leases $2,114,439
    Loan and leases loss allowance $9,693
    Trading account assets $8,495
    Bank premises and fixed assets $46,351
    Other real estate owned $324
    Goodwill and other intangibles $75,940
    All other assets $64,417

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $3,426,753
    Total Liabilities $3,093,036
    Total deposits $2,937,848
    Interest-bearing deposits $2,059,016
    Deposits held in domestic offices $2,937,848
    % insured (estimated) $59
    Federal funds purchased and repurchase agreements $282
    Trading liabilities $8,495
    Other borrowed funds $126,071
    Subordinated debt $0
    All other liabilities $20,340

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $2,114,439
    Loan and leases loss allowance $9,693
    Total loans and leases (domestic) $2,124,132
    All real estate loans $685,767
    Real estate loans in domestic offices $685,767
    Construction and development loans $74,571
    Residential 1-4 family construction $15,525
    Other construction, all land development and other land $59,046
    Loans secured by nonfarm nonresidential properties $287,764
    Nonfarm nonresidential secured by owner-occupied properties $144,706
    Commercial real estate & other non-farm, non-residential $143,058
    Multifamily residential real estate $142,950
    1-4 family residential loans $149,736
    Farmland loans $30,746
    Loans held in foreign offices $0
    Farm loans $10,140
    Commercial and industrial loans $774,685
    To non-U.S. addressees $0
    Loans to individuals $622,963
    Credit card loans $0
    Related Plans $343
    Consumer Auto Loans $11
    Other loans to individuals $622,609
    All other loans & leases $30,577
    Loans to foreign governments and official institutions $0
    Other loans $8,626
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $2,861
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $676
    Non 1-4 family restructured loans & leases $368
    Total loans and leases (foreign) $0

    Town Bank N.A. had $2,114,439,000 of loans outstanding in 2021. $685,767,000 of loans were in real estate loans. $74,571,000 of loans were in development loans. $142,950,000 of loans were in multifamily mortgage loans. $149,736,000 of loans were in 1-4 family mortgage loans. $10,140,000 of loans were in farm loans. $0 of loans were in credit card loans. $11,000 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 293 $76,564 $261,311
    Nonfarm, nonresidential loans - <$100k 34 $1,465 $43,088
    Nonfarm, nonresidential loans - $100-250k 98 $13,623 $139,010
    Nonfarm, nonresidential loans - $250k-1MM 161 $61,476 $381,839
    Commercial & Industrial, US addressed loans - <$1MM 17,304 $358,794 $20,735
    Commercial & Industrial, US addressed loans - <$100k 15,871 $125,156 $7,886
    Commercial & Industrial, US addressed loans - $100-250k 865 $77,006 $89,024
    Commercial & Industrial, US addressed loans - $250k-1MM 568 $156,632 $275,761
    Farmland loans - <$1MM 88 $13,843 $157,307
    Farmland loans - <$100k 19 $859 $45,211
    Farmland loans - $100-250k 38 $4,946 $130,158
    Farmland loans - $250k-1MM 31 $8,038 $259,290
    Agriculture operations loans - <$1MM 72 $5,700 $79,167
    Agriculture operations loans - <$100k 41 $1,114 $27,171
    Agriculture operations loans - $100-250k 21 $2,118 $100,857
    Agriculture operations loans - $250k-1MM 10 $2,468 $246,800