Security State Bank Mortgage Rates, Fees & Info
Iron River, WI
LEI: 549300BUNVNXN3U3OF88
Tax ID: 39-0281120
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Mortgage Data
Bank Data
Review & Overview
Security State Bank is a smaller bank specializing in
various types of mortgages.
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Originations
0
Origination Dollar Volume (All Markets)
$0
Employee count
15
Complaints
| Bank Name |
Product |
Issue |
2021 CPFB Complaints |
% of Total Issues |
| Security National Financial Corp |
Conventional home mortgage |
Applying for a mortgage or refinancing an existing mortgage |
1 |
7.1% |
| Security National Financial Corp |
Conventional home mortgage |
Closing on a mortgage |
1 |
7.1% |
| Security National Financial Corp |
Conventional home mortgage |
Incorrect information on your report |
1 |
7.1% |
| Security National Financial Corp |
Conventional home mortgage |
Trouble during payment process |
5 |
35.7% |
| Security National Financial Corp |
FHA mortgage |
Applying for a mortgage or refinancing an existing mortgage |
1 |
7.1% |
| Security National Financial Corp |
FHA mortgage |
Trouble during payment process |
2 |
14.3% |
| Security National Financial Corp |
Other type of mortgage |
Applying for a mortgage or refinancing an existing mortgage |
2 |
14.3% |
| Security National Financial Corp |
VA mortgage |
Closing on a mortgage |
1 |
7.1% |
Bank Details
Branches
| Bank Name |
Branch |
Branch Type |
Deposits (000's) |
| Security State Bank |
13967 E U.S. Highway 2 Brule, WI 54820 |
Full Service B&M
|
$9,202 |
| Security State Bank |
83325 Washington Ave Port Wing, WI 54865 |
Full Service B&M
|
$9,938 |
| Security State Bank |
U S Hwy #2 7865 Iron River, WI 54847 |
Full Service B&M
|
$80,546 |
For 2021, Security State Bank had 3 branches.
Yearly Performance Overview
Bank Income
Security State Bank's gross interest income from loans was $4,540,000.
Security State Bank's net interest income from loans was $4,097,000.
Security State Bank's fee based income from loans was $105,000.
Security State Bank's net income from loans was $1,570,000.
Bank Expenses
| Item |
Value (in 000's) |
| Total interest expense |
$443 |
| Provision for credit losses |
$120 |
| Total noninterest expense |
$3,106 |
| Salaries and employee benefits |
$2,134 |
| Premises and equipment expense |
$213 |
| Additional noninterest expense |
$759 |
| Applicable income taxes |
$457 |
| Net charge-offs |
$-134 |
| Cash dividends |
$1,000 |
Security State Bank's interest expense for loans was $443,000.
Security State Bank's payroll and benefits expense were $2,134,000.
Security State Bank's property, plant and equipment expenses $213,000.
Deposits
| Type |
Value (in 000's) |
| Total deposits |
$107,053 |
| Deposits held in domestic offices |
$107,053 |
| Deposits by Individuals, partnerships, and corporations |
$99,242 |
| Deposits by U.S. Government |
$33 |
| Deposits by States and political subdivisions in the U.S. |
$7,778 |
| 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 |
$47,317 |
| Demand deposits |
$35,412 |
| Nontransaction accounts |
$59,736 |
| Money market deposit accounts (MMDAs) |
$13,592 |
| Other savings deposits (excluding MMDAs) |
$19,782 |
| Total time deposits |
$26,363 |
| Total time and savings deposits |
$71,641 |
| Noninterest-bearing deposits |
$35,412 |
| Interest-bearing deposits |
$71,641 |
| Retail deposits |
$100,568 |
| IRAs and Keogh plan accounts |
$3,321 |
| Brokered deposits |
$2,484 |
| Deposits held in foreign offices |
$0 |
Assets
| Asset |
Value (in 000's) |
| Total Assets |
$136,081 |
| Cash & Balances due from depository institutions |
$44,757 |
| Interest-bearing balances |
$38,816 |
| Total securities |
$12,143 |
| Federal funds sold & reverse repurchase |
$2,877 |
| Net loans and leases |
$69,439 |
| Loan and leases loss allowance |
$1,391 |
| Trading account assets |
$0 |
| Bank premises and fixed assets |
$138 |
| Other real estate owned |
$0 |
| Goodwill and other intangibles |
$0 |
| All other assets |
$6,727 |
Liabilities
| Liabilities |
Value (in 000's) |
| Total liabilities and capital |
$136,081 |
| Total Liabilities |
$114,071 |
| Total deposits |
$107,053 |
| Interest-bearing deposits |
$71,641 |
| Deposits held in domestic offices |
$107,053 |
| % insured (estimated) |
$81 |
| Federal funds purchased and repurchase agreements |
$0 |
| Trading liabilities |
$0 |
| Other borrowed funds |
$6,000 |
| Subordinated debt |
$0 |
| All other liabilities |
$1,018 |
Issued Loan Types
| Type |
Value (in 000's) |
| Net loans and leases |
$69,439 |
| Loan and leases loss allowance |
$1,391 |
| Total loans and leases (domestic) |
$70,830 |
| All real estate loans |
$43,081 |
| Real estate loans in domestic offices |
$43,081 |
| Construction and development loans |
$3,107 |
| Residential 1-4 family construction |
$2,099 |
| Other construction, all land development and other land |
$1,008 |
| Loans secured by nonfarm nonresidential properties |
$24,815 |
| Nonfarm nonresidential secured by owner-occupied properties |
$10,095 |
| Commercial real estate & other non-farm, non-residential |
$14,720 |
| Multifamily residential real estate |
$0 |
| 1-4 family residential loans |
$14,176 |
| Farmland loans |
$983 |
| Loans held in foreign offices |
$0 |
| Farm loans |
$2,199 |
| Commercial and industrial loans |
$20,893 |
| To non-U.S. addressees |
$0 |
| Loans to individuals |
$1,014 |
| Credit card loans |
$45 |
| Related Plans |
$0 |
| Consumer Auto Loans |
$353 |
| Other loans to individuals |
$616 |
| All other loans & leases |
$3,643 |
| Loans to foreign governments and official institutions |
$0 |
| Other loans |
$764 |
| 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 |
Security State Bank had $69,439,000 of loans outstanding in 2021. $43,081,000 of loans were in real estate loans.
$3,107,000 of loans were in development loans. $0 of loans were in multifamily mortgage loans.
$14,176,000 of loans were in 1-4 family mortgage loans. $2,199,000 of loans were in farm loans. $45,000
of loans were in credit card loans. $353,000 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 |
82 |
$11,367 |
$138,622 |
| Nonfarm, nonresidential loans - <$100k |
22 |
$442 |
$20,091 |
| Nonfarm, nonresidential loans - $100-250k |
28 |
$2,171 |
$77,536 |
| Nonfarm, nonresidential loans - $250k-1MM |
32 |
$8,754 |
$273,563 |
| Commercial & Industrial, US addressed loans - <$1MM |
78 |
$6,138 |
$78,692 |
| Commercial & Industrial, US addressed loans - <$100k |
49 |
$447 |
$9,122 |
| Commercial & Industrial, US addressed loans - $100-250k |
11 |
$962 |
$87,455 |
| Commercial & Industrial, US addressed loans - $250k-1MM |
18 |
$4,729 |
$262,722 |
| Farmland loans - <$1MM |
2 |
$329 |
$164,500 |
| Farmland loans - <$100k |
1 |
$16 |
$16,000 |
| Farmland loans - $250k-1MM |
1 |
$313 |
$313,000 |
| Agriculture operations loans - <$1MM |
5 |
$110 |
$22,000 |
| Agriculture operations loans - <$100k |
5 |
$110 |
$22,000 |