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. 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, Racine, Chicago, Watertown, 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%	11/21/24
30 Year Conventional Purchase	6.28%	11/21/24
30 Year Conventional Refi	6.18%	11/21/24
30 Year Cash-out Refi	6.63%	11/21/24
30 Year FHA Purchase	6.75%	11/21/24
30 Year FHA Refi	7.15%	11/21/24
30 Year VA Purchase	6.16%	11/21/24
15 Year Conventional Purchase	5.92%	11/21/24
15 Year Conventional Refi	5.85%	11/21/24
15 Year Cash-out Refi	5.85%	11/21/24
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

Purchase Price:

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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

1,633

Origination Dollar Volume (All Markets)

$393,505,000

Employee count

304

Awards

Waukesha State Bank 30 Year Conventional Loans silver

Waukesha State Bank 30 Year Conventional Loans gold

Show all (3) 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)	1,433	$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.

Their top states include:

Wisconsin (FHA|USDA|VA)

California (FHA|USDA|VA)

Colorado (FHA|USDA|VA)

Arizona (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.

Badger Bank
Similarity Rank: 231

Bank of Deerfield
Similarity Rank: 360

NORTHWESTERN MUTUAL
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The Park Bank
Similarity Rank: 819

Hometown Bank
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Westbury Bank
Similarity Rank: 1007

The Greenwood's State Bank
Similarity Rank: 1100

Kohler Credit Union
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State Bank of Cross Plains
Similarity Rank: 1200

PRIME FINANCIAL CREDIT UNION
Similarity Rank: 1211

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	1,274	$357,030,000	$280,243	$1,749	3.13%
HELOC	352	$34,640,000	$98,409	n/a	4.19%
VA	6	$1,530,000	$255,000	$7,785	2.50%
FHA	1	$305,000	$305,000	$7,770	2.75%

For 2021, Waukesha State Bank's most frequently originated type of loan was Conventional, with 1,274 originations. Their 2nd most popular type was HELOC, with 352 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. 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 2021, Waukesha State Bank's most frequently cited loan purpose was Refi, with 700 originations. The 2nd most popular reason was 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 2021, Waukesha State Bank's most frequently cited loan duration was 30 Year, with 813 originations. The 2nd most popular length was 5 Year, with 283 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	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	13	$4,335,000	$333,462
$5k+	10	$3,840,000	$384,000
$4k-5k	4	$1,870,000	$467,500

Waukesha State Bank's average total fees were $1,975, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.22%, while their most frequently originated rate bucket for loans was 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
95.95%

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
93.02%

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	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
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

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