Mound City Bank Mortgage Rates, Fees & Info

Platteville, WI

LEI: 549300C70VBQUGXHPR07

Tax ID: 39-0487540

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & 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 by origination volume include: Madison, Platteville, Dubuque, Milwaukee, and Janesville among others. We have data for 21 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.54% 12/4/24
    30 Year Conventional Refi 6.49% 12/4/24
    30 Year Cash-out Refi 6.60% 12/4/24
    15 Year Conventional Purchase 5.96% 12/4/24
    15 Year Conventional Refi 6.24% 12/4/24
    15 Year Cash-out Refi 6.24% 12/4/24
    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

    435

    Origination Dollar Volume (All Markets)

    $102,825,000

    Employee count

    73 Show all (5) awards

    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) 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.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Mound City Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    MidWestOne Bank
    Similarity Rank: 342
    DMB Community Bank
    Similarity Rank: 400
    Dane County Credit Union
    Similarity Rank: 531
    The Greenwood's State Bank
    Similarity Rank: 625
    Farmers & Merchants State Bank
    Similarity Rank: 784
    Monona Bank
    Similarity Rank: 793
    Hometown Bank
    Similarity Rank: 798
    The Park Bank
    Similarity Rank: 819
    Starion Bank
    Similarity Rank: 900
    State Bank of Cross Plains
    Similarity Rank: 900

    Product Mix

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

    For 2021, Mound City Bank's most frequently originated type of loan was Conventional, with 435 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Mound City Bank's most frequently cited loan purpose was Home Purchase, with 177 originations. The 2nd most popular reason was 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 2021, Mound City Bank's most frequently cited loan duration was 30 Year, with 216 originations. The 2nd most popular length was 15 Year, with 110 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost 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

    Mound City Bank's average total fees were $1,873, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 2.99%, while their most frequently originated rate bucket for loans was 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
    96.51%

    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
    92.87%

    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 112 Mound Avenue Belmont, WI 53510 Full Service B&M $34,423
    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

    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