River Bank Mortgage Rates, Fees & Info

Stoddard, WI

LEI: 5493008FT4WVSLWPKG77

Tax ID: 39-0273600

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Mortgage Data

Bank Data

Review & Overview

River Bank is a smaller bank specializing in Home Purchase and Refi loans. River Bank has a high proportion of conventional loans. Their top markets by origination volume include: La Crosse, Madison, Minneapolis, Janesville, and Atlanta among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

River Bank has an 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

101

Origination Dollar Volume (All Markets)

$52,135,000

Employee count

78

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
LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 54 $32,270,000 $597,593 $0 0.00%
Outside of Metro Areas 35 $7,985,000 $228,143 $0 0.00%
MADISON, WI (FHA|USDA|VA) 2 $5,290,000 $2,645,000 $0 0.00%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 2 $3,030,000 $1,515,000 $0 0.00%
JANESVILLE-BELOIT, WI (FHA|USDA|VA) 1 $725,000 $725,000 $0 0.00%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $605,000 $605,000 $0 0.00%
Red Wing, MN (FHA|USDA|VA) 1 $605,000 $605,000 $0 0.00%
ROME, GA (FHA|USDA|VA) 1 $605,000 $605,000 $0 0.00%
Winona, MN (FHA|USDA|VA) 1 $405,000 $405,000 $0 0.00%
Whitewater, WI (FHA|USDA|VA) 1 $295,000 $295,000 $0 0.00%
ROCHESTER, MN (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
Sterling, IL (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
River Bank's top markets include La Crosse, Madison, Minneapolis, Janesville, and Atlanta among others.

Their top states include:
  • Wisconsin (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 101 $52,135,000 $516,188 $0 0.00%

    For 2018, River Bank's most frequently originated type of loan was Conventional, with 101 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 63 $27,425,000 $435,317 $0 0.00%
    Refi 24 $21,630,000 $901,250 $0 0.00%
    Cash Out Refi 8 $1,470,000 $183,750 $0 0.00%
    Home Improvement 4 $1,340,000 $335,000 $0 0.00%
    Other 2 $270,000 $135,000 $0 0.00%

    For 2018, River Bank's most frequently cited loan purpose was Home Purchase, with 63 originations. The 2nd most popular reason was Refi, with 24 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 101 $52,135,000 $516,188 $0 0.00%

    For 2018, River Bank's most frequently cited loan duration was Other, with 101 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 39 $5,495,000 $140,897 $0 0.00%
    $100,000 or less 26 $1,640,000 $63,077 $0 0.00%
    $200k-400k 17 $4,405,000 $259,118 $0 0.00%
    $1MM+ 11 $35,845,000 $3,258,636 $0 0.00%
    $600k-1MM 5 $3,385,000 $677,000 $0 0.00%
    $400k-600k 3 $1,365,000 $455,000 $0 0.00%

    2018 saw River Bank place emphasis on $100k-200k loans with 39 originations, totaling $5,495,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 16 $1,600,000 $100,000 $0 0.00%
    $50k-75k 13 $1,235,000 $95,000 $0 0.00%
    $75k-100k 11 $1,525,000 $138,636 $0 0.00%
    $100k-150k 10 $1,990,000 $199,000 $0 0.00%
    $250k+ 6 $1,660,000 $276,667 $0 0.00%
    $150k-250k 5 $1,125,000 $225,000 $0 0.00%

    River Bank lent most frequently to those with incomes in the $50k or less range, with 16 originations. The second most popular income band? $50k-75k, with 13 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 101 $52,135,000 $516,188 $0 0.00%

    River Bank lent most frequently to those with DTI ratios of Exempt%, with 101 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 38 $42,670,000 $1,122,895 $0 0.00%
    White 54 $7,340,000 $135,926 $0 0.00%
    Not provided 8 $2,040,000 $255,000 $0 0.00%
    Native Hawaiian or Islander 1 $85,000 $85,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    86.86%

    River Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.18%

    River Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 101 $52,135,000 $516,188

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 9 $7,815,000 $868,333
    Multifamily:Site-Built 12 $32,010,000 $2,667,500
    Single Family (1-4 Units):Manufactured 2 $40,000 $20,000
    Single Family (1-4 Units):Site-Built 78 $12,270,000 $157,308

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    River Bank 145 North Main Street Stoddard, WI 54658 Full Service B&M $37,011
    River Bank 101 Stenslien Street Westby, WI 54667 Full Service B&M $20,612
    River Bank 1232 Rose Street La Crosse, WI 54603 Full Service B&M $41,615
    River Bank 1606 Commercial Bangor, WI 54614 Full Service B&M $42,622
    River Bank 161 Main Street Ferryville, WI 54628 Full Service B&M $12,200
    River Bank 300 Central Avenue Coon Valley, WI 54623 Full Service B&M $15,940
    River Bank 4000 Corporate Drive Holmen, WI 54636 Full Service B&M $31,851
    River Bank 4401 Mormon Coulee Road La Crosse, WI 54601 Full Service B&M $120,528
    River Bank 88 Crawford Street De Soto, WI 54624 Full Service B&M $10,783
    River Bank 900 Maple Avenue Sparta, WI 54656 Full Service B&M $57,893
    River Bank W 3995 Country Highway M West Salem, WI 54669 Full Service B&M $3,477

    For 2018, River Bank had 11 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $20,172
    Net interest income $15,664
    Total noninterest income $1,020
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $321
    Trading account gains and fees $0
    Additional Noninterest Income $699
    Pre-tax net operating income $8,874
    Securities gains (or losses, -) $0
    Income before extraordinary items $8,874
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $8,874
    Minority interest net income $0
    Net income $8,874
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $8,874

    River Bank's gross interest income from loans was $20,172,000.
    River Bank's net interest income from loans was $15,664,000.
    River Bank's fee based income from loans was $321,000.
    River Bank's net income from loans was $8,874,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,508
    Provision for credit losses $352
    Total noninterest expense $7,458
    Salaries and employee benefits $4,848
    Premises and equipment expense $732
    Additional noninterest expense $1,878
    Applicable income taxes $0
    Net charge-offs $12
    Cash dividends $6,475

    River Bank's interest expense for loans was $4,508,000.
    River Bank's payroll and benefits expense were $4,848,000.
    River Bank's property, plant and equipment expenses $732,000.

    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 1.0%
    Personal loans 1.0%
    Credit card loans 0.0%
    Other individual loans 1.0%
    Auto loans 7.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $405,142
    Deposits held in domestic offices $405,142
    Deposits by Individuals, partnerships, and corporations $376,137
    Deposits by U.S. Government $49
    Deposits by States and political subdivisions in the U.S. $28,956
    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 $94,188
    Demand deposits $50,789
    Nontransaction accounts $310,954
    Money market deposit accounts (MMDAs) $70,991
    Other savings deposits (excluding MMDAs) $39,987
    Total time deposits $199,976
    Total time and savings deposits $354,353
    Noninterest-bearing deposits $50,789
    Interest-bearing deposits $354,353
    Retail deposits $352,674
    IRAs and Keogh plan accounts $35,117
    Brokered deposits $7,607
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $490,877
    Cash & Balances due from depository institutions $12,316
    Interest-bearing balances $5,699
    Total securities $33,834
    Federal funds sold & reverse repurchase $3,961
    Net loans and leases $428,636
    Loan and leases loss allowance $4,845
    Trading account assets $0
    Bank premises and fixed assets $5,026
    Other real estate owned $0
    Goodwill and other intangibles $2,981
    All other assets $4,123

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $490,878
    Total Liabilities $435,434
    Total deposits $405,142
    Interest-bearing deposits $354,353
    Deposits held in domestic offices $405,142
    % insured (estimated) $84
    Federal funds purchased and repurchase agreements $1,419
    Trading liabilities $0
    Other borrowed funds $28,000
    Subordinated debt $0
    All other liabilities $873

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $428,636
    Loan and leases loss allowance $4,845
    Total loans and leases (domestic) $433,481
    All real estate loans $369,125
    Real estate loans in domestic offices $369,125
    Construction and development loans $31,003
    Residential 1-4 family construction $6,169
    Other construction, all land development and other land $24,834
    Loans secured by nonfarm nonresidential properties $156,678
    Nonfarm nonresidential secured by owner-occupied properties $62,498
    Commercial real estate & other non-farm, non-residential $94,180
    Multifamily residential real estate $88,213
    1-4 family residential loans $66,478
    Farmland loans $26,753
    Loans held in foreign offices $0
    Farm loans $4,794
    Commercial and industrial loans $28,668
    To non-U.S. addressees $0
    Loans to individuals $1,771
    Credit card loans $41
    Related Plans $25
    Consumer Auto Loans $438
    Other loans to individuals $1,267
    All other loans & leases $29,123
    Loans to foreign governments and official institutions $0
    Other loans $106
    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 $1,792
    Non 1-4 family restructured loans & leases $1,792
    Total loans and leases (foreign) $0

    River Bank had $428,636,000 of loans outstanding in 2018. $369,125,000 of loans were in real estate loans. $31,003,000 of loans were in development loans. $88,213,000 of loans were in multifamily mortgage loans. $66,478,000 of loans were in 1-4 family mortgage loans. $4,794,000 of loans were in farm loans. $41,000 of loans were in credit card loans. $438,000 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 226 $55,682 $246,381
    Nonfarm, nonresidential loans - <$100k 65 $2,457 $37,800
    Nonfarm, nonresidential loans - $100-250k 67 $8,552 $127,642
    Nonfarm, nonresidential loans - $250k-1MM 94 $44,673 $475,245
    Commercial & Industrial, US addressed loans - <$1MM 168 $18,056 $107,476
    Commercial & Industrial, US addressed loans - <$100k 114 $2,271 $19,921
    Commercial & Industrial, US addressed loans - $100-250k 29 $4,809 $165,828
    Commercial & Industrial, US addressed loans - $250k-1MM 25 $10,976 $439,040
    Farmland loans - <$1MM 113 $14,865 $131,549
    Farmland loans - <$100k 51 $2,062 $40,431
    Farmland loans - $100-250k 42 $6,273 $149,357
    Farmland loans - $250k-1MM 20 $6,530 $326,500
    Agriculture operations loans - <$1MM 82 $4,107 $50,085
    Agriculture operations loans - <$100k 67 $1,653 $24,672
    Agriculture operations loans - $100-250k 12 $1,404 $117,000
    Agriculture operations loans - $250k-1MM 3 $1,050 $350,000