Mound City Bank Mortgage Rates, Fees & Info

Platteville, WI

LEI: 549300C70VBQUGXHPR07

Tax ID: 39-0487540

5 stars - out of 5 stars, based on 21 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Mound City Bank is a smaller bank specializing in Home Purchase, Refi, and Cash Out Refi loans. Mound City Bank has a high proportion of conventional loans. Their top markets include Madison, Platteville, Dubuque, Milwaukee, and Janesville among others. Mound City 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. Mound City Bank is typically a low fee lendor.


Originations

435

Origination Dollar Volume (All Markets)

$102,825,000

Employee count

73 Show all (5) awards

Relative Rate

Mound City Bank's average 30 year fixed rate mortgage of loans were 2.99%.

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

This yields a difference of -0.16%.

Relative Fees

Mound City Bank's average total fees for a 30 year fixed rate mortgage are $1,873.

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
MADISON, WI (FHA|USDA|VA) 156 $43,440,000 $278,462 $1,653 3.07%
Platteville, WI (FHA|USDA|VA) 129 $23,985,000 $185,930 $1,682 2.94%
Outside of Metro Areas 105 $19,805,000 $188,619 $1,640 2.95%
DUBUQUE, IA (FHA|USDA|VA) 14 $8,320,000 $594,286 $1,540 3.24%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 8 $2,480,000 $310,000 $1,289 3.66%
JANESVILLE-BELOIT, WI (FHA|USDA|VA) 6 $1,150,000 $191,667 $1,674 3.18%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $475,000 $475,000 $3,532 2.88%
GREEN BAY, WI (FHA|USDA|VA) 1 $415,000 $415,000 $2,788 3.00%
Watertown-Fort Atkinson, WI (FHA|USDA|VA) 2 $410,000 $205,000 $2,273 3.06%
CEDAR RAPIDS, IA (FHA|USDA|VA) 1 $305,000 $305,000 $1,506 2.75%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $305,000 $305,000 $4,690 3.25%
EAU CLAIRE, WI (FHA|USDA|VA) 2 $270,000 $135,000 $2,008 3.67%
ROCHESTER, MN (FHA|USDA|VA) 1 $225,000 $225,000 $2,024 2.13%
APPLETON, WI (FHA|USDA|VA) 1 $205,000 $205,000 $1,356 2.25%
LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 1 $205,000 $205,000 $2,490 2.88%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 1 $205,000 $205,000 $2,028 3.25%
FOND DU LAC, WI (FHA|USDA|VA) 1 $175,000 $175,000 $941 2.88%
Manitowoc, WI (FHA|USDA|VA) 1 $145,000 $145,000 $2,210 2.38%
Fort Dodge, IA (FHA|USDA|VA) 1 $135,000 $135,000 $1,571 2.25%
RACINE, WI (FHA|USDA|VA) 1 $115,000 $115,000 $942 2.25%
Shawano, WI (FHA|USDA|VA) 1 $55,000 $55,000 $1,106 2.50%

Mound City Bank's top markets include Madison, Platteville, Dubuque, Milwaukee, and Janesville among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 435 $102,825,000 $236,379 $1,675 3.01%

For the 2021 period, Mound City Bank's most frequently originated loan type of loans were Conventional, with 435 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 177 $42,785,000 $241,723 $2,284 3.24%
Refi 142 $36,650,000 $258,099 $1,216 2.85%
Cash Out Refi 108 $22,600,000 $209,259 $1,373 2.81%
Other 6 $780,000 $130,000 $1,219 2.92%
Home Improvement 2 $10,000 $5,000 $0 4.99%

For the 2021, Mound City Bank's most frequently cited loan purpose of loans were Home Purchase, with 177 originations. The 2nd most popular reason of loans were Refi, with 142 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 216 $48,360,000 $223,889 $1,873 2.99%
15 Year 110 $19,830,000 $180,273 $1,338 2.39%
5 Year 46 $21,040,000 $457,391 $3,727 3.88%
20 Year 32 $5,800,000 $181,250 $1,361 2.71%
Other 26 $7,250,000 $278,846 $1,784 4.47%
3 Year 2 $220,000 $110,000 $0 3.82%
10 Year 2 $160,000 $80,000 $1,536 3.33%
1 Year 1 $165,000 $165,000 $0 4.00%

For the 2021, Mound City Bank's most frequently cited loan length of loans were 30 Year, with 216 originations. The 2nd most popular length of loans were 15 Year, with 110 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 375 $76,345,000 $203,587
$1k-2k 2 $970,000 $485,000
$2k-3k 1 $365,000 $365,000

$1,873 of loans were Mound City Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 375 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 160 $33,610,000 $210,063
3-4% 142 $45,120,000 $317,746
<2.5% 108 $19,640,000 $181,852
4-5% 24 $4,340,000 $180,833
5-6% 1 $115,000 $115,000

During 2021, Mound City Bank's average interest rate of loans were 2.99%, while their most frequently originated rate bucket of loans were 2.5-3%, with 160 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 167 $24,775,000 $148,353 $1,661 2.94%
$200k-400k 156 $42,220,000 $270,641 $1,660 2.98%
$100,000 or less 66 $4,490,000 $68,030 $1,567 3.06%
$400k-600k 33 $15,555,000 $471,364 $1,996 3.10%
$600k-1MM 7 $5,595,000 $799,286 $1,556 3.68%
$1MM+ 6 $10,190,000 $1,698,333 $3,727 3.73%

2021 saw Mound City Bank place emphasis on $100k-200k loans with 167 originations, totaling $24,775,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 90 $21,110,000 $234,556 $1,562 2.84%
$50k-75k 90 $16,270,000 $180,778 $1,810 2.97%
$75k-100k 78 $15,020,000 $192,564 $1,718 2.89%
$50k or less 72 $8,130,000 $112,917 $1,716 3.01%
$150k-250k 37 $11,225,000 $303,378 $1,469 2.69%
$250k+ 25 $8,535,000 $341,400 $1,637 3.12%

Mound City Bank lent most frequently to those with incomes in the $100k-150k range, with 90 originations. The second most popular income band? $50k-75k, with 90 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 115 $23,515,000 $204,478 $1,574 2.85%
30-36% 76 $14,600,000 $192,105 $1,761 2.94%
<20% 47 $8,485,000 $180,532 $1,426 2.72%
37% 20 $3,610,000 $180,500 $1,593 2.82%
39% 17 $3,225,000 $189,706 $1,919 3.14%
40% 16 $3,510,000 $219,375 $1,725 2.73%
41% 16 $3,150,000 $196,875 $1,827 3.07%
36% 12 $2,540,000 $211,667 $1,745 2.77%
42% 11 $2,695,000 $245,000 $2,036 2.93%
44% 8 $1,940,000 $242,500 $1,864 2.89%
46% 8 $2,120,000 $265,000 $1,734 3.17%
38% 8 $1,670,000 $208,750 $1,104 2.42%
43% 6 $1,310,000 $218,333 $1,586 3.38%
48% 5 $2,185,000 $437,000 $2,703 3.34%
45% 5 $1,145,000 $229,000 $2,413 3.30%
47% 4 $950,000 $237,500 $2,065 3.06%
49% 4 $710,000 $177,500 $1,499 2.69%
50-60% 3 $465,000 $155,000 $1,636 3.27%
>60% 1 $275,000 $275,000 $1,459 2.38%

Mound City Bank lent most frequently to those with DTI ratios of 20-30%, with 115 originations. The next most common DTI ratio? 30-36%, with 76 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 392 $81,410,000 $207,679 $1,674 2.92%
Not applicable 40 $20,820,000 $520,500 $0 3.87%
Not provided 1 $275,000 $275,000 $0 4.59%
Black 1 $185,000 $185,000 $1,331 3.13%
Asian 1 $135,000 $135,000 $2,110 2.38%

Approval Rates

Total approvals of all applications
96.28%

Mound City 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
91.58%

Mound City Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 435 $102,825,000 $236,379

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
435 $102,825,000 $236,379

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 26 $2,880,000 $110,769 $1,287 2.66%
40-60% 58 $13,290,000 $229,138 $1,386 2.93%
60-80% 180 $45,880,000 $254,889 $1,511 2.98%
80-100% 160 $34,760,000 $217,250 $1,990 3.07%
Over 100% 4 $5,410,000 $1,352,500 $0 3.97%
Under 20% 6 $350,000 $58,333 $1,453 3.62%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Mound City Bank 1100 Springdale Street Mount Horeb, WI 53572 Full Service B&M $49,411
Mound City Bank 200 S. Main Street Cuba City, WI 53807 Full Service B&M $38,626
Mound City Bank 25 East Pine Street Platteville, WI 53818 Full Service B&M $217,901
Mound City Bank 640 Dodge Street Mineral Point, WI 53565 Full Service B&M $29,416
Mound City Bank 90 South Second Street Platteville, WI 53818 Limited, Drive-thru $0
Mound City Bank 112 Mound Avenue Belmont, WI 53510 Full Service B&M $34,423

For 2021, Mound City Bank had 6 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $15,471
Net interest income $13,597
Total noninterest income $4,947
Gross Fiduciary activities income $72
Service charges on deposit accounts $319
Trading account gains and fees $0
Additional Noninterest Income $4,556
Pre-tax net operating income $7,193
Securities gains (or losses, -) $164
Income before extraordinary items $5,421
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $5,421
Minority interest net income $0
Net income $5,421
Sale, conversion, retirement of capital stock, net $0
Net operating income $5,291

Mound City Bank's gross interest income from loans was $15,471,000.
Mound City Bank's net interest income from loans was $13,597,000.
Mound City Bank's fee based income from loans was $319,000.
Mound City Bank's net income from loans was $5,421,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $1,874
Provision for credit losses $312
Total noninterest expense $11,039
Salaries and employee benefits $7,089
Premises and equipment expense $681
Additional noninterest expense $3,269
Applicable income taxes $1,936
Net charge-offs $49
Cash dividends $450

Mound City Bank's interest expense for loans was $1,874,000.
Mound City Bank's payroll and benefits expense were $7,089,000.
Mound City Bank's property, plant and equipment expenses $681,000.

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 $390,688
Deposits held in domestic offices $390,688
Deposits by Individuals, partnerships, and corporations $349,234
Deposits by U.S. Government $16
Deposits by States and political subdivisions in the U.S. $40,195
Deposits by Commercial banks and other depository institutions in U.S. $1,243
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $163,656
Demand deposits $78,198
Nontransaction accounts $227,032
Money market deposit accounts (MMDAs) $91,485
Other savings deposits (excluding MMDAs) $38,260
Total time deposits $97,287
Total time and savings deposits $312,490
Noninterest-bearing deposits $67,664
Interest-bearing deposits $323,024
Retail deposits $369,112
IRAs and Keogh plan accounts $16,932
Brokered deposits $7,700
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $449,561
Cash & Balances due from depository institutions $39,842
Interest-bearing balances $29,778
Total securities $74,717
Federal funds sold & reverse repurchase $1,145
Net loans and leases $315,508
Loan and leases loss allowance $6,072
Trading account assets $0
Bank premises and fixed assets $5,044
Other real estate owned $0
Goodwill and other intangibles $0
All other assets $13,305

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $449,561
Total Liabilities $398,037
Total deposits $390,688
Interest-bearing deposits $323,024
Deposits held in domestic offices $390,688
% insured (estimated) $84
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $5,000
Subordinated debt $0
All other liabilities $2,349

Issued Loan Types

Type Value (in 000's)
Net loans and leases $315,508
Loan and leases loss allowance $6,072
Total loans and leases (domestic) $321,580
All real estate loans $261,936
Real estate loans in domestic offices $261,936
Construction and development loans $12,941
Residential 1-4 family construction $6,953
Other construction, all land development and other land $5,988
Loans secured by nonfarm nonresidential properties $85,048
Nonfarm nonresidential secured by owner-occupied properties $24,149
Commercial real estate & other non-farm, non-residential $60,899
Multifamily residential real estate $32,709
1-4 family residential loans $78,050
Farmland loans $53,188
Loans held in foreign offices $0
Farm loans $46,560
Commercial and industrial loans $6,666
To non-U.S. addressees $0
Loans to individuals $2,552
Credit card loans $0
Related Plans $41
Consumer Auto Loans $1,240
Other loans to individuals $1,271
All other loans & leases $3,866
Loans to foreign governments and official institutions $0
Other loans $65
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 $8,941
Non 1-4 family restructured loans & leases $8,849
Total loans and leases (foreign) $0

Mound City Bank had $315,508,000 of loans outstanding in 2021. $261,936,000 of loans were in real estate loans. $12,941,000 of loans were in development loans. $32,709,000 of loans were in multifamily mortgage loans. $78,050,000 of loans were in 1-4 family mortgage loans. $46,560,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,240,000 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 93 $24,521 $263,667
Nonfarm, nonresidential loans - <$100k 16 $557 $34,813
Nonfarm, nonresidential loans - $100-250k 29 $3,911 $134,862
Nonfarm, nonresidential loans - $250k-1MM 48 $20,053 $417,771
Commercial & Industrial, US addressed loans - <$1MM 95 $4,711 $49,589
Commercial & Industrial, US addressed loans - <$100k 62 $1,019 $16,435
Commercial & Industrial, US addressed loans - $100-250k 16 $1,205 $75,313
Commercial & Industrial, US addressed loans - $250k-1MM 17 $2,487 $146,294
Farmland loans - <$1MM 121 $13,662 $112,909
Farmland loans - <$100k 23 $1,119 $48,652
Farmland loans - $100-250k 52 $4,976 $95,692
Farmland loans - $250k-1MM 46 $7,567 $164,500
Agriculture operations loans - <$1MM 164 $12,514 $76,305
Agriculture operations loans - <$100k 88 $2,087 $23,716
Agriculture operations loans - $100-250k 42 $3,760 $89,524
Agriculture operations loans - $250k-1MM 34 $6,667 $196,088