Waukesha State Bank Mortgage Rates, Fees & Info

Waukesha, WI

LEI: 5493003H8ECZKN77IZ88

Tax ID: 39-0734270

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

Review & 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. Their top markets by origination volume include: Milwaukee, Racine, Wausau, Madison, and Whitewater among others. We have data for 24 markets. (Some data included below & more in-depth data is available with an active subscription.)

Waukesha State 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. Waukesha State 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
Home Equity Line of Credit (HELOC)	6.34%	4/14/24
30 Year Conventional Purchase	6.28%	4/14/24
30 Year Conventional Refi	6.18%	4/14/24
30 Year Cash-out Refi	6.63%	4/14/24
30 Year FHA Purchase	6.75%	4/14/24
30 Year FHA Refi	7.15%	4/14/24
30 Year VA Purchase	6.16%	4/14/24
15 Year Conventional Purchase	5.92%	4/14/24
15 Year Conventional Refi	5.85%	4/14/24
15 Year Cash-out Refi	5.85%	4/14/24
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.

Waukesha State Bank Mortgage Calculator

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Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Waukesha State 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

1,518

Origination Dollar Volume (All Markets)

$369,180,000

Employee count

302

Awards

Waukesha State Bank 30 Year Conventional Loans bronze

Waukesha State Bank 30 Year Conventional Loans silver

Waukesha State Bank 30 Year Conventional Loans gold

Show all (4) 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)	1,358	$302,930,000	$223,071	$1,762	3.57%
RACINE, WI (FHA\|USDA\|VA)	40	$21,040,000	$526,000	$2,278	3.41%
WAUSAU-WESTON, WI (FHA\|USDA\|VA)	5	$9,725,000	$1,945,000	$2,834	3.76%
MADISON, WI (FHA\|USDA\|VA)	5	$8,065,000	$1,613,000	$2,161	3.75%
Whitewater, WI (FHA\|USDA\|VA)	29	$8,045,000	$277,414	$1,831	3.35%
Watertown-Fort Atkinson, WI (FHA\|USDA\|VA)	23	$4,455,000	$193,696	$1,584	3.49%
Outside of Metro Areas	21	$3,485,000	$165,952	$1,692	3.32%
Manitowoc, WI (FHA\|USDA\|VA)	2	$2,140,000	$1,070,000	$1,522	3.66%
Beaver Dam, WI (FHA\|USDA\|VA)	9	$1,925,000	$213,889	$1,808	3.61%
FOND DU LAC, WI (FHA\|USDA\|VA)	5	$1,915,000	$383,000	$1,719	3.75%
Wisconsin Rapids-Marshfield, WI (FHA\|USDA\|VA)	1	$975,000	$975,000	$0	3.25%
OSHKOSH-NEENAH, WI (FHA\|USDA\|VA)	3	$895,000	$298,333	$1,977	3.33%
SALINAS, CA (FHA\|USDA\|VA)	2	$750,000	$375,000	$1,545	3.00%
PHOENIX-MESA-CHANDLER, AZ (FHA\|USDA\|VA)	2	$510,000	$255,000	$1,750	3.15%
Chicago-Naperville-Elgin, IL-IN-WI (FHA\|USDA\|VA)	2	$420,000	$210,000	$1,853	3.06%
JANESVILLE-BELOIT, WI (FHA\|USDA\|VA)	2	$330,000	$165,000	$1,659	3.30%
SHEBOYGAN, WI (FHA\|USDA\|VA)	2	$270,000	$135,000	$2,096	3.31%
EAU CLAIRE, WI (FHA\|USDA\|VA)	1	$265,000	$265,000	$0	4.50%
Los Angeles-Long Beach-Anaheim, CA (FHA\|USDA\|VA)	1	$255,000	$255,000	$1,539	2.55%
Iron Mountain, MI-WI (FHA\|USDA\|VA)	1	$235,000	$235,000	$2,135	2.75%
Baraboo, WI (FHA\|USDA\|VA)	1	$225,000	$225,000	$1,915	6.00%
North Port-Sarasota-Bradenton, FL (FHA\|USDA\|VA)	1	$165,000	$165,000	$0	4.95%
Shawano, WI (FHA\|USDA\|VA)	1	$115,000	$115,000	$1,326	3.13%
Marinette, WI-MI (FHA\|USDA\|VA)	1	$45,000	$45,000	$1,761	2.70%

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

Their top states include:

Wisconsin (FHA|USDA|VA)

California (FHA|USDA|VA)

Arizona (FHA|USDA|VA)

Michigan (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Similar Lenders

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

Hometown Bank
Similarity Rank: 288

Empower Credit Union
Similarity Rank: 459

Horicon Bank
Similarity Rank: 540

Westbury Bank
Similarity Rank: 612

The Greenwood's State Bank
Similarity Rank: 702

Fox Valley Savings Bank
Similarity Rank: 952

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	1,242	$341,820,000	$275,217	$1,735	3.37%
HELOC	263	$23,775,000	$90,399	n/a	4.47%
VA	13	$3,585,000	$275,769	$5,684	2.89%

For 2020, Waukesha State Bank's most frequently originated type of loan was Conventional, with 1,242 originations. Their 2nd most popular type was HELOC, with 263 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Refi	677	$201,905,000	$298,235	$1,561	3.32%
Home Purchase	417	$103,555,000	$248,333	$2,234	3.62%
Cash Out Refi	227	$49,725,000	$219,053	$1,827	3.28%
Other	105	$7,955,000	$75,762	$136	4.43%
Home Improvement	92	$6,040,000	$65,652	$178	4.67%

For 2020, Waukesha State Bank's most frequently cited loan purpose was Refi, with 677 originations. The 2nd most popular reason was Home Purchase, with 417 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	809	$213,775,000	$264,246	$1,935	3.39%
5 Year	221	$51,375,000	$232,466	$313	4.42%
15 Year	202	$46,050,000	$227,970	$1,637	2.86%
Other	141	$29,235,000	$207,340	$1,360	4.49%
20 Year	73	$16,785,000	$229,932	$1,694	3.14%
10 Year	65	$8,195,000	$126,077	$872	3.14%
1 Year	5	$3,575,000	$715,000	$1,335	4.90%
3 Year	2	$190,000	$95,000	$0	4.69%

For 2020, Waukesha State Bank's most frequently cited loan duration was 30 Year, with 809 originations. The 2nd most popular length was 5 Year, with 221 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	1,005	$247,015,000	$245,786
$1k-2k	146	$34,660,000	$237,397
$2k-3k	19	$4,645,000	$244,474
$3k-4k	7	$1,865,000	$266,429
$5k+	4	$1,540,000	$385,000
$4k-5k	3	$725,000	$241,667

Waukesha State Bank's average total fees were $1,935, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,005 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
3-4%	869	$233,095,000	$268,234
2.5-3%	287	$70,815,000	$246,742
4-5%	169	$35,355,000	$209,201
<2.5%	96	$21,040,000	$219,167
5-6%	74	$7,330,000	$99,054
6-7%	19	$1,195,000	$62,895
7-8%	3	$335,000	$111,667
Over 8%	1	$15,000	$15,000

During 2020, Waukesha State Bank's average interest rate for loans was 3.39%, while their most frequently originated rate bucket for loans was 3-4%, with 869 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	552	$152,070,000	$275,489	$1,854	3.28%
$100k-200k	482	$71,640,000	$148,631	$1,748	3.51%
$100,000 or less	315	$18,625,000	$59,127	$1,194	4.23%
$400k-600k	129	$61,005,000	$472,907	$2,065	3.22%
$600k-1MM	25	$18,455,000	$738,200	$1,990	3.51%
$1MM+	15	$47,385,000	$3,159,000	$2,802	3.66%

2020 saw Waukesha State Bank place emphasis on $200k-400k loans with 552 originations, totaling $152,070,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	334	$74,530,000	$223,144	$1,758	3.50%
$150k-250k	321	$84,785,000	$264,128	$1,798	3.62%
$50k-75k	250	$41,070,000	$164,280	$1,884	3.46%
$75k-100k	227	$43,695,000	$192,489	$1,789	3.41%
$250k+	136	$44,570,000	$327,721	$1,916	3.66%
$50k or less	128	$15,910,000	$124,297	$1,775	3.57%

Waukesha State Bank lent most frequently to those with incomes in the $100k-150k range, with 334 originations. The second most popular income band? $150k-250k, with 321 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	460	$95,290,000	$207,152	$1,684	3.54%
30-36%	303	$65,785,000	$217,112	$1,768	3.59%
<20%	253	$53,065,000	$209,743	$1,619	3.43%
36%	60	$14,270,000	$237,833	$1,971	3.54%
37%	52	$12,590,000	$242,115	$1,743	3.44%
39%	43	$9,645,000	$224,302	$1,671	3.81%
38%	42	$8,370,000	$199,286	$1,588	3.47%
40%	41	$9,485,000	$231,341	$1,855	3.33%
42%	40	$9,900,000	$247,500	$2,207	3.52%
41%	38	$8,810,000	$231,842	$2,125	3.54%
44%	23	$6,595,000	$286,739	$2,253	3.33%
43%	21	$4,345,000	$206,905	$1,918	3.35%
45%	18	$4,410,000	$245,000	$2,942	3.47%
48%	14	$2,720,000	$194,286	$1,696	3.22%
46%	11	$2,735,000	$248,636	$2,063	3.18%
47%	10	$2,770,000	$277,000	$2,283	3.36%
49%	9	$2,235,000	$248,333	$1,645	3.05%
50-60%	3	$625,000	$208,333	$1,711	3.83%

Waukesha State Bank lent most frequently to those with DTI ratios of 20-30%, with 460 originations. The next most common DTI ratio? 30-36%, with 303 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	1,356	$289,990,000	$213,857	$1,755	3.53%
Not applicable	77	$55,535,000	$721,234	$392	4.34%
Not provided	35	$8,525,000	$243,571	$1,769	3.21%
Asian	23	$8,075,000	$351,087	$2,421	3.07%
Black	18	$4,890,000	$271,667	$2,002	3.63%
American Indian	5	$735,000	$147,000	$1,723	3.73%
Asian Indian	2	$530,000	$265,000	$1,914	3.03%
Other Asian	1	$455,000	$455,000	$12,323	3.00%
Native Hawaiian or Islander	1	$445,000	$445,000	$3,980	3.35%

Approval Rates

Total approvals of all applications
95.02%

Waukesha State 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
90.05%

Waukesha State Bank has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	1,518	$369,180,000	$243,202

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	21	$45,805,000	$2,181,190
Single Family (1-4 Units):Site-Built	1,497	$323,375,000	$216,015

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	180	$23,830,000	$132,389	$1,397	3.78%
40-60%	263	$54,675,000	$207,890	$1,623	3.18%
60-80%	510	$149,580,000	$293,294	$1,806	3.40%
80-100%	370	$128,610,000	$347,595	$2,057	3.48%
Over 100%	2	$770,000	$385,000	$12,766	2.75%
Under 20%	193	$11,715,000	$60,699	$468	4.42%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Waukesha State Bank	1111 Delafield Street Waukesha, WI 53188	Limited, Drive-thru	$0
Waukesha State Bank	1160 North Rochester Street Mukwonago, WI 53149	Full Service B&M	$22,133
Waukesha State Bank	1227 Corporate Center Drive Oconomowoc, WI 53066	Full Service B&M	$56,635
Waukesha State Bank	1230 Capitol Drive Pewaukee, WI 53072	Full Service Retail	$55,607
Waukesha State Bank	14000 West National Avenue New Berlin, WI 53151	Full Service B&M	$23,987
Waukesha State Bank	151 East St. Paul Avenue Waukesha, WI 53188	Full Service B&M	$464,077
Waukesha State Bank	1640 E Main St Waukesha, WI 53186	Full Service Retail	$63,650
Waukesha State Bank	1709 E Racine Ave Waukesha, WI 53186	Full Service B&M	$37,638
Waukesha State Bank	18300 West Capitol Drive Brookfield, WI 53045	Full Service B&M	$45,852
Waukesha State Bank	222 Park Place Waukesha, WI 53186	Limited, Mobile/Seasonal Office	$0
Waukesha State Bank	3293 Golf Road Delafield, WI 53018	Full Service Retail	$52,854
Waukesha State Bank	701 North Meadowbrook Road Waukesha, WI 53188	Full Service Retail	$31,019
Waukesha State Bank	S31w25995 Sunset Drive Waukesha, WI 53188	Full Service B&M	$70,561
Waukesha State Bank	S69w15273 Janesville Road Muskego, WI 53150	Full Service B&M	$29,435
Waukesha State Bank	W249 N6688 State Highway 164 Sussex, WI 53089	Full Service B&M	$45,520

For 2020, Waukesha State Bank had 15 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$44,310
Net interest income	$42,905
Total noninterest income	$19,867
Gross Fiduciary activities income	$5,007
Service charges on deposit accounts	$1,634
Trading account gains and fees	$0
Additional Noninterest Income	$13,226
Pre-tax net operating income	$23,809
Securities gains (or losses, -)	$1,077
Income before extraordinary items	$23,283
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$23,283
Minority interest net income	$0
Net income	$23,283
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$22,270

Waukesha State Bank's gross interest income from loans was $44,310,000.
Waukesha State Bank's net interest income from loans was $42,905,000.
Waukesha State Bank's fee based income from loans was $1,634,000.
Waukesha State Bank's net income from loans was $23,283,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$1,405
Provision for credit losses	$2,219
Total noninterest expense	$36,744
Salaries and employee benefits	$25,420
Premises and equipment expense	$3,254
Additional noninterest expense	$8,070
Applicable income taxes	$1,603
Net charge-offs	$19
Cash dividends	$13,627

Waukesha State Bank's interest expense for loans was $1,405,000.
Waukesha State Bank's payroll and benefits expense were $25,420,000.
Waukesha State Bank's property, plant and equipment expenses $3,254,000.

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	1.0%
Credit card loans	2.6%
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	$1,058,860
Deposits held in domestic offices	$1,058,860
Deposits by Individuals, partnerships, and corporations	$914,534
Deposits by U.S. Government	$2
Deposits by States and political subdivisions in the U.S.	$144,324
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	$186,452
Demand deposits	$105,947
Nontransaction accounts	$872,408
Money market deposit accounts (MMDAs)	$132,301
Other savings deposits (excluding MMDAs)	$706,196
Total time deposits	$33,909
Total time and savings deposits	$952,913
Noninterest-bearing deposits	$364,654
Interest-bearing deposits	$694,206
Retail deposits	$1,055,420
IRAs and Keogh plan accounts	$11,698
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$1,307,608
Cash & Balances due from depository institutions	$168,944
Interest-bearing balances	$147,848
Total securities	$202,639
Federal funds sold & reverse repurchase	$0
Net loans and leases	$868,522
Loan and leases loss allowance	$8,100
Trading account assets	$0
Bank premises and fixed assets	$26,656
Other real estate owned	$0
Goodwill and other intangibles	$0
All other assets	$40,847

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$1,307,608
Total Liabilities	$1,165,033
Total deposits	$1,058,860
Interest-bearing deposits	$694,206
Deposits held in domestic offices	$1,058,860
% insured (estimated)	$74
Federal funds purchased and repurchase agreements	$89,019
Trading liabilities	$0
Other borrowed funds	$4,000
Subordinated debt	$0
All other liabilities	$13,154

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$868,522
Loan and leases loss allowance	$8,100
Total loans and leases (domestic)	$876,622
All real estate loans	$641,280
Real estate loans in domestic offices	$641,280
Construction and development loans	$58,450
Residential 1-4 family construction	$27,707
Other construction, all land development and other land	$30,743
Loans secured by nonfarm nonresidential properties	$221,104
Nonfarm nonresidential secured by owner-occupied properties	$168,917
Commercial real estate & other non-farm, non-residential	$52,187
Multifamily residential real estate	$79,310
1-4 family residential loans	$281,814
Farmland loans	$602
Loans held in foreign offices	$0
Farm loans	$0
Commercial and industrial loans	$228,177
To non-U.S. addressees	$0
Loans to individuals	$6,606
Credit card loans	$4,004
Related Plans	$640
Consumer Auto Loans	$1,247
Other loans to individuals	$715
All other loans & leases	$559
Loans to foreign governments and official institutions	$0
Other loans	$331
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 $868,522,000 of loans outstanding in 2020. $641,280,000 of loans were in real estate loans. $58,450,000 of loans were in development loans. $79,310,000 of loans were in multifamily mortgage loans. $281,814,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $4,004,000 of loans were in credit card loans. $1,247,000 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	458	$108,047	$235,910
Nonfarm, nonresidential loans - <$100k	83	$2,584	$31,133
Nonfarm, nonresidential loans - $100-250k	142	$17,520	$123,380
Nonfarm, nonresidential loans - $250k-1MM	233	$87,943	$377,438
Commercial & Industrial, US addressed loans - <$1MM	2,017	$140,368	$69,592
Commercial & Industrial, US addressed loans - <$100k	1,486	$39,245	$26,410
Commercial & Industrial, US addressed loans - $100-250k	326	$36,625	$112,347
Commercial & Industrial, US addressed loans - $250k-1MM	205	$64,498	$314,624
Farmland loans - <$1MM	6	$602	$100,333
Farmland loans - <$100k	2	$58	$29,000
Farmland loans - $100-250k	3	$330	$110,000
Farmland loans - $250k-1MM	1	$214	$214,000