Pyramax Bank Fsb Mortgage Rates, Fees & Info

Greenfield, WI

LEI: 549300A81K8K8KJR9759

Tax ID: 39-0624390

5 stars - out of 5 stars, based on 26 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Pyramax Bank Fsb is a smaller bank specializing in Refi, Cash Out Refi, and Home Purchase loans. Pyramax Bank Fsb has a high proportion of conventional loans. Their top markets include Milwaukee, Racine, Whitewater, Oshkosh, and Watertown among others. Pyramax Bank Fsb has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Pyramax Bank Fsb is typically a low fee lendor.


Originations

693

Origination Dollar Volume (All Markets)

$172,905,000

Employee count

108 Show all (6) awards

Relative Rate

Pyramax Bank Fsb's average 30 year fixed rate mortgage of loans were 3.01%.

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

This yields a difference of -0.14%.

Relative Fees

Pyramax Bank Fsb's average total fees for a 30 year fixed rate mortgage are $1,702.

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) 573 $141,285,000 $246,571 $1,507 2.83%
RACINE, WI (FHA|USDA|VA) 40 $9,040,000 $226,000 $1,497 2.83%
Whitewater, WI (FHA|USDA|VA) 17 $3,925,000 $230,882 $1,512 2.97%
Outside of Metro Areas 12 $2,910,000 $242,500 $1,540 2.71%
OSHKOSH-NEENAH, WI (FHA|USDA|VA) 1 $2,625,000 $2,625,000 $0 2.50%
Watertown-Fort Atkinson, WI (FHA|USDA|VA) 7 $1,485,000 $212,143 $1,593 3.07%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 6 $1,470,000 $245,000 $2,592 2.90%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 5 $1,175,000 $235,000 $3,254 3.20%
Beaver Dam, WI (FHA|USDA|VA) 5 $1,155,000 $231,000 $1,964 2.93%
GREEN BAY, WI (FHA|USDA|VA) 5 $965,000 $193,000 $1,569 2.68%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $900,000 $450,000 $2,334 2.38%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $810,000 $405,000 $5,299 2.63%
APPLETON, WI (FHA|USDA|VA) 2 $790,000 $395,000 $2,370 2.63%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 1 $695,000 $695,000 $3,089 2.50%
MADISON, WI (FHA|USDA|VA) 2 $570,000 $285,000 $1,225 2.69%
SHEBOYGAN, WI (FHA|USDA|VA) 3 $515,000 $171,667 $1,487 3.00%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $505,000 $505,000 $5,384 2.88%
FLAGSTAFF, AZ (FHA|USDA|VA) 1 $485,000 $485,000 $4,772 3.13%
FORT COLLINS, CO (FHA|USDA|VA) 1 $305,000 $305,000 $2,592 2.63%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $295,000 $295,000 $0 3.25%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $285,000 $285,000 $3,622 2.75%
JANESVILLE-BELOIT, WI (FHA|USDA|VA) 1 $265,000 $265,000 $1,184 2.50%
Manitowoc, WI (FHA|USDA|VA) 1 $145,000 $145,000 $1,129 2.88%
Shawano, WI (FHA|USDA|VA) 1 $115,000 $115,000 $1,615 2.50%
EAU CLAIRE, WI (FHA|USDA|VA) 1 $95,000 $95,000 $0 2.88%
FOND DU LAC, WI (FHA|USDA|VA) 1 $95,000 $95,000 $1,647 2.88%

Pyramax Bank Fsb's top markets include Milwaukee, Racine, Whitewater, Oshkosh, and Watertown among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 693 $172,905,000 $249,502 $1,558 2.83%

For the 2021 period, Pyramax Bank Fsb's most frequently originated loan type of loans were Conventional, with 693 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 332 $78,240,000 $235,663 $1,365 2.71%
Cash Out Refi 205 $47,965,000 $233,976 $1,560 2.81%
Home Purchase 149 $44,875,000 $301,174 $1,992 3.12%
Home Improvement 4 $830,000 $207,500 $1,732 2.81%
Other 3 $995,000 $331,667 $1,994 3.21%

For the 2021, Pyramax Bank Fsb's most frequently cited loan purpose of loans were Refi, with 332 originations. The 2nd most popular reason of loans were Cash Out Refi, with 205 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 363 $94,575,000 $260,537 $1,702 3.01%
15 Year 190 $34,490,000 $181,526 $1,426 2.47%
20 Year 73 $14,145,000 $193,767 $1,380 2.74%
Other 43 $23,335,000 $542,674 $1,405 2.79%
10 Year 14 $3,830,000 $273,571 $1,111 2.98%
5 Year 10 $2,530,000 $253,000 $0 4.00%

For the 2021, Pyramax Bank Fsb's most frequently cited loan length of loans were 30 Year, with 363 originations. The 2nd most popular length of loans were 15 Year, with 190 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 585 $132,025,000 $225,684
$1k-2k 49 $15,045,000 $307,041

$1,702 of loans were Pyramax Bank Fsb's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 585 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 320 $76,420,000 $238,813
<2.5% 221 $46,225,000 $209,163
3-4% 143 $46,615,000 $325,979
4-5% 8 $3,600,000 $450,000
5-6% 1 $45,000 $45,000

During 2021, Pyramax Bank Fsb's average interest rate of loans were 3.01%, while their most frequently originated rate bucket of loans were 2.5-3%, with 320 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 279 $41,705,000 $149,480 $1,454 2.78%
$200k-400k 264 $72,740,000 $275,530 $1,582 2.83%
$100,000 or less 73 $5,375,000 $73,630 $1,346 2.93%
$400k-600k 66 $31,740,000 $480,909 $1,992 2.88%
$1MM+ 8 $18,990,000 $2,373,750 $3,249 3.47%
$600k-1MM 3 $2,355,000 $785,000 $2,788 3.00%

2021 saw Pyramax Bank Fsb place emphasis on $100k-200k loans with 279 originations, totaling $41,705,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 175 $43,265,000 $247,229 $1,602 2.83%
$50k-75k 145 $23,485,000 $161,966 $1,480 2.82%
$75k-100k 131 $28,555,000 $217,977 $1,560 2.85%
$150k-250k 93 $28,695,000 $308,548 $1,573 2.73%
$50k or less 91 $11,165,000 $122,692 $1,418 2.80%
$250k+ 38 $17,910,000 $471,316 $1,975 2.75%

Pyramax Bank Fsb lent most frequently to those with incomes in the $100k-150k range, with 175 originations. The second most popular income band? $50k-75k, with 145 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 186 $42,650,000 $229,301 $1,528 2.80%
30-36% 126 $29,220,000 $231,905 $1,538 2.77%
<20% 101 $21,885,000 $216,683 $1,478 2.68%
41% 28 $7,700,000 $275,000 $1,589 2.77%
42% 24 $6,070,000 $252,917 $1,592 2.80%
38% 24 $4,620,000 $192,500 $1,574 2.97%
40% 23 $5,195,000 $225,870 $1,535 2.73%
37% 23 $5,985,000 $260,217 $1,759 2.97%
36% 20 $4,180,000 $209,000 $1,536 2.70%
39% 19 $3,935,000 $207,105 $1,726 2.77%
49% 19 $4,675,000 $246,053 $1,706 2.99%
45% 17 $3,965,000 $233,235 $1,770 2.92%
48% 13 $3,135,000 $241,154 $1,718 3.02%
44% 13 $2,935,000 $225,769 $1,729 3.11%
43% 12 $2,570,000 $214,167 $1,433 3.16%
46% 11 $1,675,000 $152,273 $1,333 2.63%
47% 10 $1,830,000 $183,000 $1,595 2.95%
50-60% 2 $630,000 $315,000 $1,623 3.06%
>60% 1 $235,000 $235,000 $1,602 2.50%

Pyramax Bank Fsb lent most frequently to those with DTI ratios of 20-30%, with 186 originations. The next most common DTI ratio? 30-36%, with 126 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 571 $130,195,000 $228,012 $1,559 2.80%
Not applicable 18 $19,350,000 $1,075,000 $0 3.72%
Not provided 64 $13,820,000 $215,938 $1,567 2.81%
Asian 31 $6,455,000 $208,226 $1,388 2.72%
Black 5 $2,385,000 $477,000 $2,369 3.40%
American Indian 3 $405,000 $135,000 $1,131 3.25%
Asian Indian 1 $295,000 $295,000 $0 3.25%

Approval Rates

Total approvals of all applications
92.45%

Pyramax Bank Fsb has an average approval rate.

Pick Rate

Approvals leading to origination
88.99%

Pyramax Bank Fsb has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 693 $172,905,000 $249,502

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
693 $172,905,000 $249,502

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 58 $8,460,000 $145,862 $1,538 2.60%
40-60% 204 $43,400,000 $212,745 $1,475 2.74%
60-80% 314 $87,860,000 $279,809 $1,508 2.88%
80-100% 111 $31,135,000 $280,495 $1,853 2.96%
Under 20% 5 $1,875,000 $375,000 $1,160 3.46%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Prime Choice Funding Inc. Conventional home mortgage Closing on a mortgage 1 50.0%
Prime Choice Funding Inc. VA mortgage Trouble during payment process 1 50.0%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Pyramax Bank, FSB 1015 Marquette Avenue South Milwaukee, WI 53172 Full Service B&M $67,759
Pyramax Bank, FSB 1150 Washington St Grafton, WI 53024 Full Service B&M $39,639
Pyramax Bank, FSB 1500 E Moreland Boulevard Waukesha, WI 53186 Full Service B&M $34,621
Pyramax Bank, FSB 405 Rivercrest Court Mukwonago, WI 53149 Full Service B&M $48,352
Pyramax Bank, FSB 7001 West Edgerton Avenue Greenfield, WI 53220 Full Service B&M $226,498
Pyramax Bank, FSB 9000 W Drexel Ave Franklin, WI 53132 Full Service B&M $60,292

For 2021, Pyramax Bank Fsb had 6 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $14,233
Net interest income $12,622
Total noninterest income $4,188
Gross Fiduciary activities income $0
Service charges on deposit accounts $400
Trading account gains and fees $0
Additional Noninterest Income $3,788
Pre-tax net operating income $1,927
Securities gains (or losses, -) $-74
Income before extraordinary items $1,404
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $1,404
Minority interest net income $0
Net income $1,404
Sale, conversion, retirement of capital stock, net $-1,795
Net operating income $1,462

Pyramax Bank Fsb's gross interest income from loans was $14,233,000.
Pyramax Bank Fsb's net interest income from loans was $12,622,000.
Pyramax Bank Fsb's fee based income from loans was $400,000.
Pyramax Bank Fsb's net income from loans was $1,404,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $1,611
Provision for credit losses $30
Total noninterest expense $14,853
Salaries and employee benefits $9,519
Premises and equipment expense $1,349
Additional noninterest expense $3,985
Applicable income taxes $449
Net charge-offs $-125
Cash dividends $0

Pyramax Bank Fsb's interest expense for loans was $1,611,000.
Pyramax Bank Fsb's payroll and benefits expense were $9,519,000.
Pyramax Bank Fsb's property, plant and equipment expenses $1,349,000.

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 1.0%
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 $404,379
Deposits held in domestic offices $404,379
Deposits by Individuals, partnerships, and corporations $403,657
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $722
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 $162,149
Demand deposits $124,676
Nontransaction accounts $242,230
Money market deposit accounts (MMDAs) $94,824
Other savings deposits (excluding MMDAs) $66,814
Total time deposits $80,593
Total time and savings deposits $279,703
Noninterest-bearing deposits $126,542
Interest-bearing deposits $277,837
Retail deposits $394,339
IRAs and Keogh plan accounts $12,921
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $538,274
Cash & Balances due from depository institutions $66,846
Interest-bearing balances $61,793
Total securities $114,759
Federal funds sold & reverse repurchase $1,504
Net loans and leases $324,962
Loan and leases loss allowance $2,858
Trading account assets $0
Bank premises and fixed assets $5,864
Other real estate owned $0
Goodwill and other intangibles $2,036
All other assets $22,303

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $538,274
Total Liabilities $470,151
Total deposits $404,379
Interest-bearing deposits $277,837
Deposits held in domestic offices $404,379
% insured (estimated) $76
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $58,993
Subordinated debt $0
All other liabilities $6,779

Issued Loan Types

Type Value (in 000's)
Net loans and leases $324,962
Loan and leases loss allowance $2,858
Total loans and leases (domestic) $327,820
All real estate loans $289,193
Real estate loans in domestic offices $289,193
Construction and development loans $11,669
Residential 1-4 family construction $3,388
Other construction, all land development and other land $8,281
Loans secured by nonfarm nonresidential properties $102,506
Nonfarm nonresidential secured by owner-occupied properties $42,614
Commercial real estate & other non-farm, non-residential $59,892
Multifamily residential real estate $68,206
1-4 family residential loans $105,392
Farmland loans $1,420
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $38,407
To non-U.S. addressees $0
Loans to individuals $220
Credit card loans $0
Related Plans $0
Consumer Auto Loans $102
Other loans to individuals $118
All other loans & leases $0
Loans to foreign governments and official institutions $0
Other loans $0
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 $421
Non 1-4 family restructured loans & leases $0
Total loans and leases (foreign) $0

PyraMax Bank FSB had $324,962,000 of loans outstanding in 2021. $289,193,000 of loans were in real estate loans. $11,669,000 of loans were in development loans. $68,206,000 of loans were in multifamily mortgage loans. $105,392,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $102,000 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 96 $30,780 $320,625
Nonfarm, nonresidential loans - <$100k 11 $395 $35,909
Nonfarm, nonresidential loans - $100-250k 25 $3,161 $126,440
Nonfarm, nonresidential loans - $250k-1MM 60 $27,224 $453,733
Commercial & Industrial, US addressed loans - <$1MM 412 $24,151 $58,619
Commercial & Industrial, US addressed loans - <$100k 315 $8,324 $26,425
Commercial & Industrial, US addressed loans - $100-250k 51 $5,471 $107,275
Commercial & Industrial, US addressed loans - $250k-1MM 46 $10,356 $225,130
Farmland loans - <$1MM 1 $20 $20,000
Farmland loans - $100-250k 1 $20 $20,000