Denmark State Bank Mortgage Rates, Fees & Info

Denmark, WI

LEI: 5493004OOUJA3N8LL077

Tax ID: 39-0240160

5 stars - out of 5 stars, based on 22 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Denmark State Bank is a smaller bank specializing in Home Purchase, Refi, and Cash Out Refi loans. Denmark State Bank has a high proportion of conventional loans. Their top markets include Green Bay, Appleton, Manitowoc, Shawano, and Sheboygan among others. Denmark 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. Denmark State Bank is typically a low fee lendor.


Originations

500

Origination Dollar Volume (All Markets)

$106,160,000

Employee count

103 Show all (5) awards

Relative Rate

Denmark State Bank's average 30 year fixed rate mortgage of loans were 3.08%.

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

Denmark State Bank's average total fees for a 30 year fixed rate mortgage are $1,907.

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
GREEN BAY, WI (FHA|USDA|VA) 308 $66,870,000 $217,110 $1,615 3.03%
APPLETON, WI (FHA|USDA|VA) 17 $14,155,000 $832,647 $1,806 3.25%
Manitowoc, WI (FHA|USDA|VA) 100 $13,760,000 $137,600 $1,588 2.91%
Outside of Metro Areas 22 $3,150,000 $143,182 $1,332 3.02%
Shawano, WI (FHA|USDA|VA) 14 $2,360,000 $168,571 $1,132 3.03%
SHEBOYGAN, WI (FHA|USDA|VA) 11 $1,545,000 $140,455 $1,727 3.25%
Marinette, WI-MI (FHA|USDA|VA) 7 $1,135,000 $162,143 $1,827 2.90%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 4 $670,000 $167,500 $1,699 3.38%
FOND DU LAC, WI (FHA|USDA|VA) 4 $600,000 $150,000 $1,298 2.78%
OSHKOSH-NEENAH, WI (FHA|USDA|VA) 3 $415,000 $138,333 $2,208 3.00%
Stevens Point, WI (FHA|USDA|VA) 2 $320,000 $160,000 $1,579 2.88%
MADISON, WI (FHA|USDA|VA) 2 $290,000 $145,000 $2,201 2.94%
LOGAN, UT-ID (FHA|USDA|VA) 1 $235,000 $235,000 $0 3.85%
WAUSAU-WESTON, WI (FHA|USDA|VA) 1 $225,000 $225,000 $0 3.95%
Iron Mountain, MI-WI (FHA|USDA|VA) 2 $210,000 $105,000 $718 3.19%
EAU CLAIRE, WI (FHA|USDA|VA) 1 $155,000 $155,000 $1,753 2.50%
Watertown-Fort Atkinson, WI (FHA|USDA|VA) 1 $65,000 $65,000 $1,273 2.38%

Denmark State Bank's top markets include Green Bay, Appleton, Manitowoc, Shawano, and Sheboygan among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 500 $106,160,000 $212,320 $1,592 3.02%

For the 2021 period, Denmark State Bank's most frequently originated loan type of loans were Conventional, with 500 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 173 $50,275,000 $290,607 $2,042 3.22%
Refi 166 $29,030,000 $174,880 $1,386 2.88%
Cash Out Refi 142 $23,930,000 $168,521 $1,406 2.94%
Other 15 $2,375,000 $158,333 $1,350 2.93%
Home Improvement 4 $550,000 $137,500 $1,270 3.06%

For the 2021, Denmark State Bank's most frequently cited loan purpose of loans were Home Purchase, with 173 originations. The 2nd most popular reason of loans were Refi, with 166 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 214 $39,930,000 $186,589 $1,907 3.08%
15 Year 169 $25,585,000 $151,391 $1,334 2.66%
10 Year 37 $13,395,000 $362,027 $954 2.91%
5 Year 35 $7,745,000 $221,286 $0 4.03%
20 Year 32 $4,770,000 $149,063 $1,525 2.89%
Other 7 $2,815,000 $402,143 $0 4.87%
3 Year 4 $11,570,000 $2,892,500 $0 4.06%
1 Year 2 $350,000 $175,000 $0 4.61%

For the 2021, Denmark State Bank's most frequently cited loan length of loans were 30 Year, with 214 originations. The 2nd most popular length of loans were 15 Year, with 169 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 431 $69,575,000 $161,427
$1k-2k 16 $4,040,000 $252,500
$2k-3k 1 $215,000 $215,000
$3k-4k 1 $275,000 $275,000

$1,907 of loans were Denmark State Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 431 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 225 $36,545,000 $162,422
3-4% 162 $48,890,000 $301,790
<2.5% 92 $12,770,000 $138,804
4-5% 18 $7,680,000 $426,667
5-6% 2 $190,000 $95,000
6-7% 1 $85,000 $85,000

During 2021, Denmark State Bank's average interest rate of loans were 3.08%, while their most frequently originated rate bucket of loans were 2.5-3%, with 225 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 233 $34,005,000 $145,944 $1,584 2.93%
$100,000 or less 126 $9,770,000 $77,540 $1,327 3.01%
$200k-400k 121 $31,155,000 $257,479 $1,840 3.16%
$400k-600k 13 $6,145,000 $472,692 $1,880 3.20%
$1MM+ 5 $23,695,000 $4,739,000 $0 3.66%
$600k-1MM 2 $1,390,000 $695,000 $2,869 2.94%

2021 saw Denmark State Bank place emphasis on $100k-200k loans with 233 originations, totaling $34,005,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 122 $22,520,000 $184,590 $1,620 2.88%
$50k-75k 94 $13,610,000 $144,787 $1,627 2.92%
$50k or less 84 $8,650,000 $102,976 $1,539 2.89%
$75k-100k 78 $13,230,000 $169,615 $1,524 2.89%
$150k-250k 55 $11,725,000 $213,182 $1,676 2.96%
$250k+ 13 $3,875,000 $298,077 $1,745 3.07%

Denmark State Bank lent most frequently to those with incomes in the $100k-150k range, with 122 originations. The second most popular income band? $50k-75k, with 94 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 137 $22,395,000 $163,467 $1,646 2.85%
30-36% 98 $15,710,000 $160,306 $1,601 2.89%
<20% 89 $12,905,000 $145,000 $1,343 2.78%
41% 22 $3,660,000 $166,364 $1,478 3.02%
37% 13 $2,875,000 $221,154 $1,597 2.78%
38% 12 $2,390,000 $199,167 $1,603 2.95%
36% 12 $2,230,000 $185,833 $1,861 2.98%
40% 10 $2,640,000 $264,000 $2,194 3.15%
39% 10 $1,910,000 $191,000 $1,822 3.14%
45% 9 $1,625,000 $180,556 $1,844 3.07%
42% 8 $1,170,000 $146,250 $1,366 2.92%
43% 7 $1,265,000 $180,714 $1,605 3.16%
46% 6 $970,000 $161,667 $1,777 2.79%
44% 6 $720,000 $120,000 $1,756 2.94%
48% 4 $790,000 $197,500 $1,835 2.97%
47% 2 $310,000 $155,000 $2,091 3.19%
49% 2 $320,000 $160,000 $2,008 3.31%
>60% 2 $220,000 $110,000 $1,130 3.19%

Denmark State Bank lent most frequently to those with DTI ratios of 20-30%, with 137 originations. The next most common DTI ratio? 30-36%, with 98 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 458 $75,920,000 $165,764 $1,586 2.93%
Not applicable 39 $29,435,000 $754,744 $0 4.12%
Not provided 1 $395,000 $395,000 $3,728 2.63%
Black 1 $245,000 $245,000 $2,438 3.00%
Asian 1 $165,000 $165,000 $1,273 2.38%

Approval Rates

Total approvals of all applications
96.70%

Denmark 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
92.67%

Denmark State Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 500 $106,160,000 $212,320

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
500 $106,160,000 $212,320

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 41 $4,585,000 $111,829 $1,273 2.85%
40-60% 125 $18,065,000 $144,520 $1,321 2.88%
60-80% 246 $49,080,000 $199,512 $1,646 3.04%
80-100% 78 $31,490,000 $403,718 $2,158 3.19%
Over 100% 3 $1,015,000 $338,333 $0 4.22%
Under 20% 7 $1,925,000 $275,000 $898 3.28%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Denmark State Bank 1740 Scheuring Road De Pere, WI 54115 Full Service B&M $23,170
Denmark State Bank 103 Main Street Denmark, WI 54208 Full Service B&M $205,708
Denmark State Bank 202 North Hickory Street Whitelaw, WI 54247 Full Service B&M $57,274
Denmark State Bank 2040 Kohler Memorial Drive Sheboygan, WI 53081 Full Service B&M $2,324
Denmark State Bank 2603 Glendale Avenue Green Bay, WI 54313 Full Service B&M $28,333
Denmark State Bank 2646 Noel Drive Green Bay, WI 54311 Full Service B&M $202,911
Denmark State Bank 427 Manitowoc Street Reedsville, WI 54230 Full Service B&M $45,712
Denmark State Bank 835 E. Green Bay Street Shawano, WI 54166 Full Service B&M $26,446

For 2021, Denmark State Bank had 8 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $22,824
Net interest income $20,217
Total noninterest income $4,592
Gross Fiduciary activities income $0
Service charges on deposit accounts $510
Trading account gains and fees $0
Additional Noninterest Income $4,082
Pre-tax net operating income $8,637
Securities gains (or losses, -) $146
Income before extraordinary items $6,535
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $6,535
Minority interest net income $0
Net income $6,535
Sale, conversion, retirement of capital stock, net $0
Net operating income $6,419

Denmark State Bank's gross interest income from loans was $22,824,000.
Denmark State Bank's net interest income from loans was $20,217,000.
Denmark State Bank's fee based income from loans was $510,000.
Denmark State Bank's net income from loans was $6,535,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $2,607
Provision for credit losses $0
Total noninterest expense $16,172
Salaries and employee benefits $10,863
Premises and equipment expense $1,493
Additional noninterest expense $3,816
Applicable income taxes $2,248
Net charge-offs $-73
Cash dividends $1,756

Denmark State Bank's interest expense for loans was $2,607,000.
Denmark State Bank's payroll and benefits expense were $10,863,000.
Denmark State Bank's property, plant and equipment expenses $1,493,000.

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 0.0%
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 $621,153
Deposits held in domestic offices $621,153
Deposits by Individuals, partnerships, and corporations $597,705
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $23,448
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 $241,571
Demand deposits $156,657
Nontransaction accounts $379,582
Money market deposit accounts (MMDAs) $177,428
Other savings deposits (excluding MMDAs) $95,004
Total time deposits $107,151
Total time and savings deposits $464,496
Noninterest-bearing deposits $156,684
Interest-bearing deposits $464,469
Retail deposits $607,975
IRAs and Keogh plan accounts $27,935
Brokered deposits $1
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $685,479
Cash & Balances due from depository institutions $38,490
Interest-bearing balances $479
Total securities $36,463
Federal funds sold & reverse repurchase $112,665
Net loans and leases $471,688
Loan and leases loss allowance $7,741
Trading account assets $0
Bank premises and fixed assets $6,316
Other real estate owned $0
Goodwill and other intangibles $1,083
All other assets $18,774

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $685,479
Total Liabilities $624,823
Total deposits $621,153
Interest-bearing deposits $464,469
Deposits held in domestic offices $621,153
% insured (estimated) $81
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $933
Subordinated debt $0
All other liabilities $2,737

Issued Loan Types

Type Value (in 000's)
Net loans and leases $471,688
Loan and leases loss allowance $7,741
Total loans and leases (domestic) $479,429
All real estate loans $356,440
Real estate loans in domestic offices $356,440
Construction and development loans $26,679
Residential 1-4 family construction $5,102
Other construction, all land development and other land $21,577
Loans secured by nonfarm nonresidential properties $163,457
Nonfarm nonresidential secured by owner-occupied properties $100,351
Commercial real estate & other non-farm, non-residential $63,106
Multifamily residential real estate $27,464
1-4 family residential loans $60,991
Farmland loans $77,849
Loans held in foreign offices $0
Farm loans $33,448
Commercial and industrial loans $75,254
To non-U.S. addressees $0
Loans to individuals $8,732
Credit card loans $0
Related Plans $122
Consumer Auto Loans $6,399
Other loans to individuals $2,211
All other loans & leases $5,555
Loans to foreign governments and official institutions $0
Other loans $130
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 $2,097
Non 1-4 family restructured loans & leases $2,097
Total loans and leases (foreign) $0

Denmark State Bank had $471,688,000 of loans outstanding in 2021. $356,440,000 of loans were in real estate loans. $26,679,000 of loans were in development loans. $27,464,000 of loans were in multifamily mortgage loans. $60,991,000 of loans were in 1-4 family mortgage loans. $33,448,000 of loans were in farm loans. $0 of loans were in credit card loans. $6,399,000 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 236 $57,445 $243,411
Nonfarm, nonresidential loans - <$100k 40 $2,009 $50,225
Nonfarm, nonresidential loans - $100-250k 82 $10,389 $126,695
Nonfarm, nonresidential loans - $250k-1MM 114 $45,047 $395,149
Commercial & Industrial, US addressed loans - <$1MM 477 $40,974 $85,899
Commercial & Industrial, US addressed loans - <$100k 318 $8,349 $26,255
Commercial & Industrial, US addressed loans - $100-250k 91 $9,542 $104,857
Commercial & Industrial, US addressed loans - $250k-1MM 68 $23,083 $339,456
Farmland loans - <$1MM 136 $16,898 $124,250
Farmland loans - <$100k 32 $1,224 $38,250
Farmland loans - $100-250k 71 $7,376 $103,887
Farmland loans - $250k-1MM 33 $8,298 $251,455
Agriculture operations loans - <$1MM 170 $11,535 $67,853
Agriculture operations loans - <$100k 123 $3,069 $24,951
Agriculture operations loans - $100-250k 32 $3,780 $118,125
Agriculture operations loans - $250k-1MM 15 $4,686 $312,400