Waukesha State Bank Mortgage Rates, Fees & Info

Waukesha, WI

LEI: 5493003H8ECZKN77IZ88

Tax ID: 39-0734270

5 stars - out of 5 stars, based on 40 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Waukesha State Bank is a smaller bank specializing in Refi and Home Purchase loans. Waukesha State 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, Racine, Chicago, Watertown, and Whitewater among others. Waukesha State 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. Waukesha State Bank is typically a low fee lendor.


Originations

1,633

Origination Dollar Volume (All Markets)

$393,505,000

Employee count

304

Awards

Waukesha State Bank 30 Year Conventional Loans gold Waukesha State Bank 30 Year Conventional Loans silver Waukesha State Bank 30 Year Conventional Loans gold
Show all (3) awards

Relative Rate

Waukesha State Bank's average 30 year fixed rate mortgage of loans were 3.22%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.07%.

Relative Fees

Waukesha State Bank's average total fees for a 30 year fixed rate mortgage are $1,975.

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) 1,433 $330,325,000 $230,513 $1,748 3.38%
RACINE, WI (FHA|USDA|VA) 51 $13,965,000 $273,824 $2,041 3.20%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 9 $10,005,000 $1,111,667 $2,236 3.31%
Watertown-Fort Atkinson, WI (FHA|USDA|VA) 32 $8,320,000 $260,000 $1,912 3.28%
Whitewater, WI (FHA|USDA|VA) 31 $7,195,000 $232,097 $2,178 3.31%
GREEN BAY, WI (FHA|USDA|VA) 5 $6,285,000 $1,257,000 $1,620 3.09%
Beaver Dam, WI (FHA|USDA|VA) 18 $4,200,000 $233,333 $1,286 3.23%
Outside of Metro Areas 18 $3,960,000 $220,000 $1,810 3.09%
OSHKOSH-NEENAH, WI (FHA|USDA|VA) 6 $1,640,000 $273,333 $1,996 2.78%
FOND DU LAC, WI (FHA|USDA|VA) 6 $1,510,000 $251,667 $2,085 3.38%
MADISON, WI (FHA|USDA|VA) 6 $1,500,000 $250,000 $2,134 2.91%
SALINAS, CA (FHA|USDA|VA) 1 $735,000 $735,000 $3,081 2.95%
JANESVILLE-BELOIT, WI (FHA|USDA|VA) 3 $655,000 $218,333 $2,516 2.85%
Baraboo, WI (FHA|USDA|VA) 1 $535,000 $535,000 $2,738 5.25%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $435,000 $435,000 $2,499 2.13%
Marinette, WI-MI (FHA|USDA|VA) 2 $410,000 $205,000 $2,418 2.89%
OCALA, FL (FHA|USDA|VA) 1 $405,000 $405,000 $4,226 2.38%
EAU CLAIRE, WI (FHA|USDA|VA) 2 $270,000 $135,000 $2,135 3.88%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $255,000 $255,000 $3,774 3.25%
SHEBOYGAN, WI (FHA|USDA|VA) 2 $250,000 $125,000 $1,342 3.15%
Stevens Point, WI (FHA|USDA|VA) 1 $235,000 $235,000 $1,605 2.94%
Manitowoc, WI (FHA|USDA|VA) 1 $155,000 $155,000 $2,082 2.95%
WAUSAU-WESTON, WI (FHA|USDA|VA) 1 $135,000 $135,000 $1,980 3.10%
LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 1 $125,000 $125,000 $2,414 3.63%

Waukesha State Bank's top markets include Milwaukee, Racine, Chicago, Watertown, and Whitewater among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,626 $391,670,000 $240,879 $1,749 3.36%
VA 6 $1,530,000 $255,000 $7,785 2.50%
FHA 1 $305,000 $305,000 $7,770 2.75%

For the 2021 period, Waukesha State Bank's most frequently originated loan type of loans were Conventional, with 1,626 originations. Their 2nd most popular type is VA, with 6 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 700 $183,830,000 $262,614 $1,487 3.09%
Home Purchase 398 $132,030,000 $331,734 $2,336 3.41%
Cash Out Refi 251 $54,625,000 $217,629 $1,906 3.10%
Home Improvement 163 $12,295,000 $75,429 $118 4.23%
Other 121 $10,725,000 $88,636 $345 4.12%

For the 2021, Waukesha State Bank's most frequently cited loan purpose of loans were Refi, with 700 originations. The 2nd most popular reason of loans were Home Purchase, with 398 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 813 $219,335,000 $269,785 $1,975 3.22%
5 Year 283 $69,175,000 $244,435 $135 4.11%
15 Year 238 $49,830,000 $209,370 $1,640 2.50%
Other 153 $19,715,000 $128,856 $1,437 4.30%
20 Year 69 $16,295,000 $236,159 $1,635 2.88%
10 Year 61 $6,155,000 $100,902 $707 2.94%
1 Year 14 $4,330,000 $309,286 $1,929 4.98%
3 Year 2 $8,670,000 $4,335,000 $0 3.44%

For the 2021, Waukesha State Bank's most frequently cited loan length of loans were 30 Year, with 813 originations. The 2nd most popular length of loans were 5 Year, with 283 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 1,097 $265,335,000 $241,873
$1k-2k 85 $17,095,000 $201,118
$2k-3k 25 $6,595,000 $263,800
$3k-4k 17 $6,205,000 $365,000
$5k+ 10 $3,840,000 $384,000

$1,975 of loans were Waukesha State Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 1,097 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 686 $184,290,000 $268,644
2.5-3% 514 $132,800,000 $258,366
<2.5% 201 $41,735,000 $207,637
4-5% 169 $27,555,000 $163,047
5-6% 58 $6,810,000 $117,414
6-7% 3 $175,000 $58,333
7-8% 2 $140,000 $70,000

During 2021, Waukesha State Bank's average interest rate of loans were 3.22%, while their most frequently originated rate bucket of loans were 3-4%, with 686 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 559 $155,155,000 $277,558 $1,821 3.18%
$100k-200k 528 $78,160,000 $148,030 $1,829 3.30%
$100,000 or less 362 $20,800,000 $57,459 $1,135 3.85%
$400k-600k 164 $77,960,000 $475,366 $2,118 3.11%
$600k-1MM 14 $10,980,000 $784,286 $1,920 3.12%
$1MM+ 6 $50,450,000 $8,408,333 $500 3.58%

2021 saw Waukesha State Bank place emphasis on $200k-400k loans with 559 originations, totaling $155,155,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 407 $89,545,000 $220,012 $1,763 3.37%
$75k-100k 294 $58,600,000 $199,320 $1,798 3.25%
$150k-250k 286 $72,160,000 $252,308 $1,928 3.43%
$50k-75k 245 $41,315,000 $168,633 $1,760 3.23%
$50k or less 176 $23,250,000 $132,102 $1,809 3.33%
$250k+ 141 $42,525,000 $301,596 $1,822 3.46%

Waukesha State Bank lent most frequently to those with incomes in the $100k-150k range, with 407 originations. The second most popular income band? $75k-100k, with 294 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 486 $97,290,000 $200,185 $1,724 3.33%
30-36% 335 $71,645,000 $213,866 $1,660 3.38%
<20% 244 $44,140,000 $180,902 $1,689 3.31%
39% 57 $9,935,000 $174,298 $1,898 3.41%
37% 53 $10,865,000 $205,000 $1,720 3.39%
36% 53 $11,805,000 $222,736 $2,057 3.47%
38% 51 $10,435,000 $204,608 $1,609 3.44%
41% 50 $12,670,000 $253,400 $1,789 3.32%
42% 47 $11,615,000 $247,128 $1,965 3.34%
40% 33 $8,675,000 $262,879 $1,947 3.39%
47% 31 $8,225,000 $265,323 $2,156 3.00%
43% 30 $7,160,000 $238,667 $1,762 3.08%
45% 26 $6,280,000 $241,538 $1,853 3.07%
46% 25 $6,555,000 $262,200 $2,679 2.99%
48% 20 $5,050,000 $252,500 $1,943 3.14%
44% 19 $5,185,000 $272,895 $2,244 3.18%
49% 8 $2,680,000 $335,000 $2,121 2.98%
>60% 4 $1,620,000 $405,000 $2,406 5.06%
50-60% 3 $645,000 $215,000 $1,933 4.33%

Waukesha State Bank lent most frequently to those with DTI ratios of 20-30%, with 486 originations. The next most common DTI ratio? 30-36%, with 335 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,452 $303,150,000 $208,781 $1,769 3.34%
Not applicable 57 $60,815,000 $1,066,930 $131 4.13%
Not provided 59 $12,845,000 $217,712 $2,234 3.17%
Asian 42 $11,390,000 $271,190 $1,805 3.12%
Black 17 $3,965,000 $233,235 $1,642 3.52%
Asian Indian 4 $740,000 $185,000 $1,665 3.45%
Other Pacific Islander 1 $335,000 $335,000 $1,849 3.00%
American Indian 1 $265,000 $265,000 $2,077 3.00%

Approval Rates

Total approvals of all applications
94.41%

Waukesha State Bank has an average approval rate.

Pick Rate

Approvals leading to origination
91.14%

Waukesha State Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 1,633 $393,505,000 $240,971

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,633 $393,505,000 $240,971

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 233 $31,455,000 $135,000 $1,402 3.57%
40-60% 290 $63,200,000 $217,931 $1,601 2.94%
60-80% 508 $148,670,000 $292,657 $1,900 3.20%
80-100% 344 $133,300,000 $387,500 $2,027 3.29%
Over 100% 4 $1,670,000 $417,500 $9,129 3.56%
Under 20% 254 $15,210,000 $59,882 $319 4.06%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Waukesha State Bank 1160 North Rochester Street Mukwonago, WI 53149 Full Service B&M $36,746
Waukesha State Bank 1709 E Racine Ave Waukesha, WI 53186 Full Service B&M $47,575
Waukesha State Bank 18300 West Capitol Drive Brookfield, WI 53045 Full Service B&M $56,081
Waukesha State Bank 3293 Golf Road Delafield, WI 53018 Full Service Retail $59,984
Waukesha State Bank 701 North Meadowbrook Road Waukesha, WI 53188 Full Service Retail $45,055
Waukesha State Bank N83w15424 Appleton Ave Menomonee Falls, WI 53051 Full Service B&M $14,740
Waukesha State Bank S31w25995 Sunset Drive Waukesha, WI 53188 Full Service B&M $77,220
Waukesha State Bank S69w15273 Janesville Road Muskego, WI 53150 Full Service B&M $35,413
Waukesha State Bank W249 N6688 State Highway 164 Sussex, WI 53089 Full Service B&M $55,454
Waukesha State Bank 1227 Corporate Center Drive Oconomowoc, WI 53066 Full Service B&M $66,347
Waukesha State Bank 1230 Capitol Drive Pewaukee, WI 53072 Full Service Retail $65,744
Waukesha State Bank 14000 West National Avenue New Berlin, WI 53151 Full Service B&M $29,226
Waukesha State Bank 151 East St. Paul Avenue Waukesha, WI 53188 Full Service B&M $425,005
Waukesha State Bank 1640 E Main St Waukesha, WI 53186 Full Service Retail $77,445

For 2021, Waukesha State Bank had 14 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $50,056
Net interest income $49,226
Total noninterest income $21,789
Gross Fiduciary activities income $6,372
Service charges on deposit accounts $1,538
Trading account gains and fees $0
Additional Noninterest Income $13,879
Pre-tax net operating income $28,475
Securities gains (or losses, -) $237
Income before extraordinary items $26,383
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $26,383
Minority interest net income $0
Net income $26,383
Sale, conversion, retirement of capital stock, net $0
Net operating income $26,164

Waukesha State Bank's gross interest income from loans was $50,056,000.
Waukesha State Bank's net interest income from loans was $49,226,000.
Waukesha State Bank's fee based income from loans was $1,538,000.
Waukesha State Bank's net income from loans was $26,383,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $830
Provision for credit losses $-167
Total noninterest expense $42,707
Salaries and employee benefits $30,002
Premises and equipment expense $3,574
Additional noninterest expense $9,131
Applicable income taxes $2,329
Net charge-offs $-242
Cash dividends $12,252

Waukesha State Bank's interest expense for loans was $830,000.
Waukesha State Bank's payroll and benefits expense were $30,002,000.
Waukesha State Bank's property, plant and equipment expenses $3,574,000.

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 0.0%
HELOC loans 0.0%
All other family 0.0%
Commercial & industrial loans 0.0%
Personal loans 0.0%
Credit card loans 0.5%
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 $1,218,999
Deposits held in domestic offices $1,218,999
Deposits by Individuals, partnerships, and corporations $1,093,893
Deposits by U.S. Government $2
Deposits by States and political subdivisions in the U.S. $125,103
Deposits by Commercial banks and other depository institutions in U.S. $0
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $241,489
Demand deposits $129,580
Nontransaction accounts $977,509
Money market deposit accounts (MMDAs) $164,697
Other savings deposits (excluding MMDAs) $778,640
Total time deposits $34,173
Total time and savings deposits $1,089,418
Noninterest-bearing deposits $409,980
Interest-bearing deposits $809,019
Retail deposits $1,215,546
IRAs and Keogh plan accounts $12,568
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,478,406
Cash & Balances due from depository institutions $376,976
Interest-bearing balances $355,921
Total securities $258,510
Federal funds sold & reverse repurchase $0
Net loans and leases $755,775
Loan and leases loss allowance $8,175
Trading account assets $0
Bank premises and fixed assets $27,553
Other real estate owned $0
Goodwill and other intangibles $0
All other assets $59,592

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,478,406
Total Liabilities $1,328,042
Total deposits $1,218,999
Interest-bearing deposits $809,019
Deposits held in domestic offices $1,218,999
% insured (estimated) $77
Federal funds purchased and repurchase agreements $79,150
Trading liabilities $0
Other borrowed funds $19,008
Subordinated debt $0
All other liabilities $10,885

Issued Loan Types

Type Value (in 000's)
Net loans and leases $755,775
Loan and leases loss allowance $8,175
Total loans and leases (domestic) $763,950
All real estate loans $607,924
Real estate loans in domestic offices $607,924
Construction and development loans $94,556
Residential 1-4 family construction $47,665
Other construction, all land development and other land $46,891
Loans secured by nonfarm nonresidential properties $211,828
Nonfarm nonresidential secured by owner-occupied properties $168,130
Commercial real estate & other non-farm, non-residential $43,698
Multifamily residential real estate $64,054
1-4 family residential loans $237,088
Farmland loans $398
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $142,146
To non-U.S. addressees $0
Loans to individuals $7,871
Credit card loans $4,491
Related Plans $1,408
Consumer Auto Loans $1,440
Other loans to individuals $532
All other loans & leases $6,009
Loans to foreign governments and official institutions $0
Other loans $343
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

Waukesha State Bank had $755,775,000 of loans outstanding in 2021. $607,924,000 of loans were in real estate loans. $94,556,000 of loans were in development loans. $64,054,000 of loans were in multifamily mortgage loans. $237,088,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $4,491,000 of loans were in credit card loans. $1,440,000 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 443 $106,685 $240,824
Nonfarm, nonresidential loans - <$100k 74 $2,354 $31,811
Nonfarm, nonresidential loans - $100-250k 132 $16,405 $124,280
Nonfarm, nonresidential loans - $250k-1MM 237 $87,926 $370,996
Commercial & Industrial, US addressed loans - <$1MM 969 $71,162 $73,439
Commercial & Industrial, US addressed loans - <$100k 610 $14,833 $24,316
Commercial & Industrial, US addressed loans - $100-250k 223 $22,427 $100,570
Commercial & Industrial, US addressed loans - $250k-1MM 136 $33,902 $249,279
Farmland loans - <$1MM 3 $398 $132,667
Farmland loans - <$100k 1 $3 $3,000
Farmland loans - $100-250k 1 $188 $188,000
Farmland loans - $250k-1MM 1 $207 $207,000