First State Bank Mortgage Rates, Fees & Info

New London, WI

LEI: 549300D6J5NNUQ1QZ810

Tax ID: 39-0281110

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

Jump to:

Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    First State Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. First State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Appleton, Wausau, Milwaukee, Shawano, and Stevens Point among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First State Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. First State 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.


    Originations

    66

    Origination Dollar Volume (All Markets)

    $17,880,000

    Employee count

    60

    Awards

    First State Bank 30 Year Conventional Loans gold
    Show all (1) 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
    APPLETON, WI (FHA|USDA|VA) 15 $4,795,000 $319,667 $1,318 4.36%
    WAUSAU-WESTON, WI (FHA|USDA|VA) 5 $4,005,000 $801,000 $0 4.88%
    Outside of Metro Areas 27 $2,875,000 $106,481 $1,489 4.44%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 2 $2,360,000 $1,180,000 $1,763 4.80%
    Shawano, WI (FHA|USDA|VA) 5 $1,675,000 $335,000 $1,438 4.52%
    Stevens Point, WI (FHA|USDA|VA) 5 $1,155,000 $231,000 $1,089 4.92%
    OSHKOSH-NEENAH, WI (FHA|USDA|VA) 2 $330,000 $165,000 $1,386 3.56%
    Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) 2 $330,000 $165,000 $1,398 4.24%
    GREEN BAY, WI (FHA|USDA|VA) 2 $280,000 $140,000 $1,376 4.12%
    Marinette, WI-MI (FHA|USDA|VA) 1 $75,000 $75,000 $1,950 3.50%
    First State Bank's top markets include Appleton, Wausau, Milwaukee, Shawano, and Stevens Point among others.

    Their top states include:
  • Wisconsin (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 66 $17,880,000 $270,909 $1,432 4.45%

    For 2019, First State Bank's most frequently originated type of loan was Conventional, with 66 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 27 $10,525,000 $389,815 $1,855 4.55%
    Cash Out Refi 22 $4,110,000 $186,818 $1,293 4.29%
    Refi 11 $2,735,000 $248,636 $1,111 4.38%
    Other 5 $485,000 $97,000 $1,433 4.45%
    Home Improvement 1 $25,000 $25,000 $0 6.25%

    For 2019, First State Bank's most frequently cited loan purpose was Home Purchase, with 27 originations. The 2nd most popular reason was Cash Out Refi, with 22 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 20 $2,830,000 $141,500 $1,507 4.40%
    15 Year 19 $3,035,000 $159,737 $1,413 3.81%
    Other 17 $7,805,000 $459,118 $557 4.93%
    10 Year 4 $280,000 $70,000 $1,574 3.88%
    3 Year 3 $2,145,000 $715,000 $0 5.37%
    5 Year 2 $1,720,000 $860,000 $0 5.44%
    20 Year 1 $65,000 $65,000 $1,448 7.25%

    For 2019, First State Bank's most frequently cited loan duration was 30 Year, with 20 originations. The 2nd most popular length was 15 Year, with 19 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 46 $6,300,000 $136,957

    First State Bank's average total fees were $1,507, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 46 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 31 $6,865,000 $221,452
    4-5% 22 $6,440,000 $292,727
    5-6% 9 $4,235,000 $470,556
    6-7% 2 $40,000 $20,000
    7-8% 2 $300,000 $150,000

    During 2019, First State Bank's average interest rate for loans was 4.40%, while their most frequently originated rate bucket for loans was 3-4%, with 31 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 21 $1,245,000 $59,286 $1,287 4.46%
    $100k-200k 19 $2,655,000 $139,737 $1,583 4.10%
    $200k-400k 17 $4,125,000 $242,647 $1,381 4.70%
    $1MM+ 4 $7,510,000 $1,877,500 $0 4.90%
    $400k-600k 4 $1,670,000 $417,500 $0 4.63%
    $600k-1MM 1 $675,000 $675,000 $1,763 4.49%

    2019 saw First State Bank place emphasis on $100,000 or less loans with 21 originations, totaling $1,245,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 15 $1,155,000 $77,000 $1,391 4.34%
    $100k-150k 12 $1,860,000 $155,000 $1,347 4.52%
    $75k-100k 12 $1,800,000 $150,000 $1,568 4.08%
    $50k-75k 6 $600,000 $100,000 $1,412 4.08%
    $150k-250k 4 $770,000 $192,500 $1,313 4.22%
    $250k+ 2 $890,000 $445,000 $1,763 5.00%

    First State Bank lent most frequently to those with incomes in the $50k or less range, with 15 originations. The second most popular income band? $100k-150k, with 12 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 16 $1,570,000 $98,125 $1,282 4.59%
    30-36% 13 $1,855,000 $142,692 $1,577 3.94%
    <20% 9 $1,675,000 $186,111 $1,482 3.95%
    37% 2 $220,000 $110,000 $1,160 3.44%
    40% 2 $290,000 $145,000 $1,793 4.25%
    38% 1 $45,000 $45,000 $1,103 4.25%
    39% 1 $225,000 $225,000 $1,332 3.38%
    49% 1 $195,000 $195,000 $1,468 3.99%
    36% 1 $225,000 $225,000 $1,698 3.99%

    First State Bank lent most frequently to those with DTI ratios of 20-30%, with 16 originations. The next most common DTI ratio? 30-36%, with 13 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 15 $10,805,000 $720,333 $0 4.97%
    White 50 $7,050,000 $141,000 $1,432 4.26%
    Not provided 1 $25,000 $25,000 $0 6.25%

    Approval Rates

    Total approvals of all applications
    89.58%

    First State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.36%

    First State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 66 $17,880,000 $270,909

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $15,000 $15,000
    Multifamily:Site-Built 7 $7,925,000 $1,132,143
    Single Family (1-4 Units):Manufactured 2 $160,000 $80,000
    Single Family (1-4 Units):Site-Built 56 $9,780,000 $174,643

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 7 $425,000 $60,714 $1,093 4.12%
    40-60% 12 $1,860,000 $155,000 $1,418 4.11%
    60-80% 30 $10,380,000 $346,000 $1,535 4.68%
    80-100% 12 $5,010,000 $417,500 $1,601 4.25%
    Under 20% 5 $205,000 $41,000 $1,152 4.90%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Closing on a mortgage 1 6.7%
    FIRST HORIZON BANK VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 6.7%
    FIRST HORIZON BANK VA mortgage Closing on a mortgage 1 6.7%
    FIRST HORIZON BANK Conventional home mortgage Struggling to pay mortgage 1 6.7%
    FIRST HORIZON BANK Conventional home mortgage Trouble during payment process 4 26.7%
    FIRST HORIZON BANK FHA mortgage Struggling to pay mortgage 1 6.7%
    FIRST HORIZON BANK Other type of mortgage Trouble during payment process 1 6.7%
    FIRST HORIZON BANK FHA mortgage Trouble during payment process 2 13.3%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Trouble during payment process 3 20.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    First State Bank 101 County Rd Qq Waupaca, WI 54981 Full Service B&M $18,841
    First State Bank 111 E. Freeborn St. Cecil, WI 54111 Full Service B&M $12,636
    First State Bank 113 North Water Street New London, WI 54961 Full Service B&M $146,241
    First State Bank 1680 Main Street Rudolph, WI 54475 Full Service B&M $20,208
    First State Bank 227 South Bridge Street Manawa, WI 54949 Full Service B&M $21,074
    First State Bank 60 South Main Street Clintonville, WI 54929 Full Service B&M $41,617
    First State Bank St Johns Place New London, WI 54961 Full Service B&M $0

    For 2019, First State Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $11,391
    Net interest income $9,241
    Total noninterest income $1,485
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $488
    Trading account gains and fees $0
    Additional Noninterest Income $997
    Pre-tax net operating income $3,508
    Securities gains (or losses, -) $-18
    Income before extraordinary items $2,661
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,661
    Minority interest net income $0
    Net income $2,661
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,675

    First State Bank's gross interest income from loans was $11,391,000.
    First State Bank's net interest income from loans was $9,241,000.
    First State Bank's fee based income from loans was $488,000.
    First State Bank's net income from loans was $2,661,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,150
    Provision for credit losses $0
    Total noninterest expense $7,218
    Salaries and employee benefits $3,868
    Premises and equipment expense $928
    Additional noninterest expense $2,422
    Applicable income taxes $829
    Net charge-offs $-55
    Cash dividends $11,364

    First State Bank's interest expense for loans was $2,150,000.
    First State Bank's payroll and benefits expense were $3,868,000.
    First State Bank's property, plant and equipment expenses $928,000.

    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 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 2.0%
    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 $254,211
    Deposits held in domestic offices $254,211
    Deposits by Individuals, partnerships, and corporations $217,966
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $36,207
    Deposits by Commercial banks and other depository institutions in U.S. $38
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $22,092
    Demand deposits $8,508
    Nontransaction accounts $232,119
    Money market deposit accounts (MMDAs) $37,852
    Other savings deposits (excluding MMDAs) $129,439
    Total time deposits $64,830
    Total time and savings deposits $245,703
    Noninterest-bearing deposits $35,379
    Interest-bearing deposits $218,832
    Retail deposits $241,329
    IRAs and Keogh plan accounts $14,114
    Brokered deposits $4,985
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $299,849
    Cash & Balances due from depository institutions $12,470
    Interest-bearing balances $5,764
    Total securities $103,479
    Federal funds sold & reverse repurchase $747
    Net loans and leases $167,529
    Loan and leases loss allowance $3,236
    Trading account assets $0
    Bank premises and fixed assets $2,092
    Other real estate owned $0
    Goodwill and other intangibles $838
    All other assets $12,694

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $299,849
    Total Liabilities $267,027
    Total deposits $254,211
    Interest-bearing deposits $218,832
    Deposits held in domestic offices $254,211
    % insured (estimated) $82
    Federal funds purchased and repurchase agreements $1,415
    Trading liabilities $0
    Other borrowed funds $10,000
    Subordinated debt $0
    All other liabilities $1,401

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $167,529
    Loan and leases loss allowance $3,236
    Total loans and leases (domestic) $170,765
    All real estate loans $133,366
    Real estate loans in domestic offices $133,366
    Construction and development loans $10,494
    Residential 1-4 family construction $2,989
    Other construction, all land development and other land $7,505
    Loans secured by nonfarm nonresidential properties $40,312
    Nonfarm nonresidential secured by owner-occupied properties $14,905
    Commercial real estate & other non-farm, non-residential $25,407
    Multifamily residential real estate $13,975
    1-4 family residential loans $40,685
    Farmland loans $27,900
    Loans held in foreign offices $0
    Farm loans $10,160
    Commercial and industrial loans $11,798
    To non-U.S. addressees $0
    Loans to individuals $14,884
    Credit card loans $465
    Related Plans $11,122
    Consumer Auto Loans $2,710
    Other loans to individuals $587
    All other loans & leases $557
    Loans to foreign governments and official institutions $0
    Other loans $38
    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 $4,820
    Non 1-4 family restructured loans & leases $4,723
    Total loans and leases (foreign) $0

    First State Bank had $167,529,000 of loans outstanding in 2019. $133,366,000 of loans were in real estate loans. $10,494,000 of loans were in development loans. $13,975,000 of loans were in multifamily mortgage loans. $40,685,000 of loans were in 1-4 family mortgage loans. $10,160,000 of loans were in farm loans. $465,000 of loans were in credit card loans. $2,710,000 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 112 $19,320 $172,500
    Nonfarm, nonresidential loans - <$100k 43 $1,273 $29,605
    Nonfarm, nonresidential loans - $100-250k 39 $4,233 $108,538
    Nonfarm, nonresidential loans - $250k-1MM 30 $13,814 $460,467
    Commercial & Industrial, US addressed loans - <$1MM 133 $9,963 $74,910
    Commercial & Industrial, US addressed loans - <$100k 87 $2,033 $23,368
    Commercial & Industrial, US addressed loans - $100-250k 28 $2,802 $100,071
    Commercial & Industrial, US addressed loans - $250k-1MM 18 $5,128 $284,889
    Farmland loans - <$1MM 69 $14,959 $216,797
    Farmland loans - <$100k 17 $1,243 $73,118
    Farmland loans - $100-250k 24 $3,031 $126,292
    Farmland loans - $250k-1MM 28 $10,685 $381,607
    Agriculture operations loans - <$1MM 120 $7,824 $65,200
    Agriculture operations loans - <$100k 87 $2,409 $27,690
    Agriculture operations loans - $100-250k 22 $2,572 $116,909
    Agriculture operations loans - $250k-1MM 11 $2,843 $258,455