Mound City Bank Mortgage Rates, Fees & Info

Platteville, WI

LEI: 549300C70VBQUGXHPR07

Tax ID: 39-0487540

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Mortgage Data

Bank Data

Review & Overview

Mound City Bank is a smaller bank specializing in Refi and Cash Out Refi loans. Mound City Bank has a high proportion of conventional loans. Mound City Bank has a low ratio of conventional loans. Their top markets by origination volume include: Madison, Platteville, Dubuque, Chicago, and Janesville among others. We have data for 22 markets. (Some data included below & more in-depth data is available with an active subscription.)

Mound City Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Mound City Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.54% 3/28/24
30 Year Conventional Refi 6.49% 3/28/24
30 Year Cash-out Refi 6.60% 3/28/24
15 Year Conventional Purchase 5.96% 3/28/24
15 Year Conventional Refi 6.24% 3/28/24
15 Year Cash-out Refi 6.24% 3/28/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Mound City Bank Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Mound City Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

908

Origination Dollar Volume (All Markets)

$181,290,000

Employee count

70

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
MADISON, WI (FHA|USDA|VA) 298 $71,870,000 $241,174 $0 0.00%
Platteville, WI (FHA|USDA|VA) 338 $58,190,000 $172,160 $2,021 2.88%
Outside of Metro Areas 212 $38,000,000 $179,245 $0 0.00%
DUBUQUE, IA (FHA|USDA|VA) 12 $2,760,000 $230,000 $0 0.00%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 5 $1,785,000 $357,000 $0 0.00%
JANESVILLE-BELOIT, WI (FHA|USDA|VA) 10 $1,490,000 $149,000 $0 0.00%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 6 $1,440,000 $240,000 $0 0.00%
CEDAR RAPIDS, IA (FHA|USDA|VA) 2 $900,000 $450,000 $0 0.00%
Baraboo, WI (FHA|USDA|VA) 5 $765,000 $153,000 $0 0.00%
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 3 $705,000 $235,000 $0 0.00%
APPLETON, WI (FHA|USDA|VA) 3 $635,000 $211,667 $0 0.00%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 2 $550,000 $275,000 $0 0.00%
AMES, IA (FHA|USDA|VA) 2 $370,000 $185,000 $0 0.00%
LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 2 $340,000 $170,000 $0 0.00%
WAUSAU-WESTON, WI (FHA|USDA|VA) 1 $285,000 $285,000 $0 0.00%
Freeport, IL (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
PEORIA, IL (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
RACINE, WI (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
SAVANNAH, GA (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
GREEN BAY, WI (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
ST. JOSEPH, MO-KS (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
Shawano, WI (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
Mound City Bank's top markets include Madison, Platteville, Dubuque, Chicago, and Janesville among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 907 $181,145,000 $199,719 $0 0.00%
    Conventional 1 $145,000 $145,000 $2,021 2.88%

    For 2020, Mound City Bank's most frequently originated type of loan was Conventional, with 907 originations. Their 2nd most popular type was Conventional, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 465 $93,505,000 $201,086 $0 0.00%
    Cash Out Refi 273 $53,775,000 $196,978 $0 0.00%
    Home Purchase 168 $33,830,000 $201,369 $2,021 2.88%
    Home Improvement 1 $155,000 $155,000 $0 0.00%
    Other 1 $25,000 $25,000 $0 0.00%

    For 2020, Mound City Bank's most frequently cited loan purpose was Refi, with 465 originations. The 2nd most popular reason was Cash Out Refi, with 273 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 907 $181,145,000 $199,719 $0 0.00%
    30 Year 1 $145,000 $145,000 $2,021 2.88%

    For 2020, Mound City Bank's most frequently cited loan duration was Other, with 907 originations. The 2nd most popular length was 30 Year, with 1 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1 $145,000 $145,000

    Mound City Bank's average total fees were $2,021, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 1 $145,000 $145,000

    During 2020, Mound City Bank's average interest rate for loans was 2.88%, while their most frequently originated rate bucket for loans was 2.5-3%, with 1 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 404 $59,150,000 $146,411 $2,021 2.88%
    $200k-400k 332 $90,680,000 $273,133 $0 0.00%
    $100,000 or less 127 $9,645,000 $75,945 $0 0.00%
    $400k-600k 41 $18,865,000 $460,122 $0 0.00%
    $600k-1MM 4 $2,950,000 $737,500 $0 0.00%

    2020 saw Mound City Bank place emphasis on $100k-200k loans with 404 originations, totaling $59,150,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 201 $43,065,000 $214,254 $0 0.00%
    $50k-75k 179 $26,945,000 $150,531 $2,021 2.88%
    $75k-100k 165 $30,055,000 $182,152 $0 0.00%
    $150k-250k 147 $41,065,000 $279,354 $0 0.00%
    $50k or less 98 $11,210,000 $114,388 $0 0.00%
    $250k+ 51 $17,435,000 $341,863 $0 0.00%

    Mound City Bank lent most frequently to those with incomes in the $100k-150k range, with 201 originations. The second most popular income band? $50k-75k, with 179 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 907 $181,145,000 $199,719 $0 0.00%
    20-30% 1 $145,000 $145,000 $2,021 2.88%

    Mound City Bank lent most frequently to those with DTI ratios of Exempt%, with 907 originations. The next most common DTI ratio? 20-30%, with 1 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 864 $173,110,000 $200,359 $2,021 2.88%
    Not applicable 35 $6,205,000 $177,286 $0 0.00%
    Asian 6 $1,330,000 $221,667 $0 0.00%
    Not provided 3 $645,000 $215,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.85%

    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
    94.49%

    Mound City Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 907 $181,145,000 $199,719
    NA 1 $145,000 $145,000

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $765,000 $765,000
    Single Family (1-4 Units):Manufactured 5 $595,000 $119,000
    Single Family (1-4 Units):Site-Built 902 $179,930,000 $199,479

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    80-100% 1 $145,000 $145,000 $2,021 2.88%

    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 $43,512
    Mound City Bank 112 Mound Avenue Belmont, WI 53510 Full Service B&M $29,337
    Mound City Bank 200 S. Main Street Cuba City, WI 53807 Full Service B&M $30,775
    Mound City Bank 25 East Pine Street Platteville, WI 53818 Full Service B&M $213,651
    Mound City Bank 640 Dodge Street Mineral Point, WI 53565 Full Service B&M $24,685
    Mound City Bank 90 South Second Street Platteville, WI 53818 Limited, Drive-thru $0

    For 2020, Mound City Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $14,976
    Net interest income $11,842
    Total noninterest income $7,583
    Gross Fiduciary activities income $67
    Service charges on deposit accounts $356
    Trading account gains and fees $0
    Additional Noninterest Income $7,160
    Pre-tax net operating income $6,725
    Securities gains (or losses, -) $-29
    Income before extraordinary items $4,975
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,975
    Minority interest net income $0
    Net income $4,975
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,997

    Mound City Bank's gross interest income from loans was $14,976,000.
    Mound City Bank's net interest income from loans was $11,842,000.
    Mound City Bank's fee based income from loans was $356,000.
    Mound City Bank's net income from loans was $4,975,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,134
    Provision for credit losses $987
    Total noninterest expense $11,713
    Salaries and employee benefits $6,954
    Premises and equipment expense $688
    Additional noninterest expense $4,071
    Applicable income taxes $1,721
    Net charge-offs $51
    Cash dividends $430

    Mound City Bank's interest expense for loans was $3,134,000.
    Mound City Bank's payroll and benefits expense were $6,954,000.
    Mound City Bank's property, plant and equipment expenses $688,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    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 $358,138
    Deposits held in domestic offices $358,138
    Deposits by Individuals, partnerships, and corporations $314,498
    Deposits by U.S. Government $12
    Deposits by States and political subdivisions in the U.S. $40,919
    Deposits by Commercial banks and other depository institutions in U.S. $2,709
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $139,623
    Demand deposits $68,134
    Nontransaction accounts $218,515
    Money market deposit accounts (MMDAs) $81,638
    Other savings deposits (excluding MMDAs) $29,914
    Total time deposits $106,963
    Total time and savings deposits $290,004
    Noninterest-bearing deposits $60,696
    Interest-bearing deposits $297,442
    Retail deposits $331,123
    IRAs and Keogh plan accounts $16,936
    Brokered deposits $14,948
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $420,173
    Cash & Balances due from depository institutions $37,683
    Interest-bearing balances $27,942
    Total securities $75,178
    Federal funds sold & reverse repurchase $397
    Net loans and leases $290,919
    Loan and leases loss allowance $5,809
    Trading account assets $0
    Bank premises and fixed assets $3,493
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $12,503

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $420,173
    Total Liabilities $372,508
    Total deposits $358,138
    Interest-bearing deposits $297,442
    Deposits held in domestic offices $358,138
    % insured (estimated) $81
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $12,000
    Subordinated debt $0
    All other liabilities $2,370

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $290,919
    Loan and leases loss allowance $5,809
    Total loans and leases (domestic) $296,728
    All real estate loans $231,582
    Real estate loans in domestic offices $231,582
    Construction and development loans $9,915
    Residential 1-4 family construction $6,544
    Other construction, all land development and other land $3,371
    Loans secured by nonfarm nonresidential properties $73,430
    Nonfarm nonresidential secured by owner-occupied properties $23,487
    Commercial real estate & other non-farm, non-residential $49,943
    Multifamily residential real estate $28,737
    1-4 family residential loans $68,422
    Farmland loans $51,078
    Loans held in foreign offices $0
    Farm loans $47,097
    Commercial and industrial loans $11,400
    To non-U.S. addressees $0
    Loans to individuals $2,454
    Credit card loans $0
    Related Plans $62
    Consumer Auto Loans $1,242
    Other loans to individuals $1,150
    All other loans & leases $4,355
    Loans to foreign governments and official institutions $0
    Other loans $42
    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 $9,350
    Non 1-4 family restructured loans & leases $9,248
    Total loans and leases (foreign) $0

    Mound City Bank had $290,919,000 of loans outstanding in 2020. $231,582,000 of loans were in real estate loans. $9,915,000 of loans were in development loans. $28,737,000 of loans were in multifamily mortgage loans. $68,422,000 of loans were in 1-4 family mortgage loans. $47,097,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,242,000 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 310 $43,293 $139,655
    Nonfarm, nonresidential loans - <$100k 180 $17,948 $99,711
    Nonfarm, nonresidential loans - $100-250k 46 $4,582 $99,609
    Nonfarm, nonresidential loans - $250k-1MM 84 $20,763 $247,179
    Commercial & Industrial, US addressed loans - <$1MM 78 $9,123 $116,962
    Commercial & Industrial, US addressed loans - <$100k 44 $4,336 $98,545
    Commercial & Industrial, US addressed loans - $100-250k 23 $2,238 $97,304
    Commercial & Industrial, US addressed loans - $250k-1MM 11 $2,549 $231,727
    Farmland loans - <$1MM 149 $21,334 $143,181
    Farmland loans - <$100k 16 $1,515 $94,688
    Farmland loans - $100-250k 89 $8,899 $99,989
    Farmland loans - $250k-1MM 44 $10,920 $248,182
    Agriculture operations loans - <$1MM 176 $23,395 $132,926
    Agriculture operations loans - <$100k 65 $6,442 $99,108
    Agriculture operations loans - $100-250k 70 $6,925 $98,929
    Agriculture operations loans - $250k-1MM 41 $10,028 $244,585