Waterstone Bank Ssb Mortgage Rates, Fees & Info

Wauwatosa, WI

LEI: 549300GDJSUYPH6UC416

Tax ID: 39-0691250

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Mortgage Data

Bank Data

Review & Overview

Waterstone Bank Ssb is a smaller bank specializing in Home Purchase loans. Waterstone Bank Ssb has a high proportion of conventional loans. Their top markets by origination volume include: Milwaukee, Wausau, Appleton, Minneapolis, and Fond Du Lac among others. We have data for 49 markets. (Some data included below & more in-depth data is available with an active subscription.)

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

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Originations

250

Origination Dollar Volume (All Markets)

$221,270,000

Employee count

888

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
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 136 $80,000,000 $588,235 $0 4.75%
Outside of Metro Areas 5 $20,475,000 $4,095,000 $0 0.00%
WAUSAU-WESTON, WI (FHA|USDA|VA) 2 $13,810,000 $6,905,000 $0 0.00%
APPLETON, WI (FHA|USDA|VA) 4 $10,470,000 $2,617,500 $0 0.00%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 11 $8,605,000 $782,273 $0 0.00%
FOND DU LAC, WI (FHA|USDA|VA) 3 $6,825,000 $2,275,000 $0 0.00%
OSHKOSH-NEENAH, WI (FHA|USDA|VA) 4 $6,380,000 $1,595,000 $0 0.00%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 9 $6,085,000 $676,111 $0 0.00%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 6 $5,080,000 $846,667 $0 0.00%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 4 $3,950,000 $987,500 $0 0.00%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 6 $3,800,000 $633,333 $0 0.00%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $3,605,000 $3,605,000 $0 0.00%
ROCKFORD, IL (FHA|USDA|VA) 1 $3,205,000 $3,205,000 $0 0.00%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 3 $3,135,000 $1,045,000 $0 0.00%
EAU CLAIRE, WI (FHA|USDA|VA) 1 $3,095,000 $3,095,000 $0 0.00%
SALISBURY, MD-DE (FHA|USDA|VA) 5 $2,875,000 $575,000 $0 0.00%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 4 $2,730,000 $682,500 $0 0.00%
Brainerd, MN (FHA|USDA|VA) 1 $2,605,000 $2,605,000 $0 0.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 4 $2,520,000 $630,000 $0 0.00%
Albert Lea, MN (FHA|USDA|VA) 2 $2,520,000 $1,260,000 $0 0.00%
Stevens Point, WI (FHA|USDA|VA) 2 $2,480,000 $1,240,000 $0 0.00%
Marshall, MN (FHA|USDA|VA) 2 $2,170,000 $1,085,000 $0 0.00%
Watertown-Fort Atkinson, WI (FHA|USDA|VA) 1 $2,035,000 $2,035,000 $0 0.00%
Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) 1 $1,845,000 $1,845,000 $0 0.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $1,710,000 $855,000 $0 0.00%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 3 $1,685,000 $561,667 $0 0.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $1,540,000 $770,000 $0 0.00%
BOISE CITY, ID (FHA|USDA|VA) 2 $1,430,000 $715,000 $0 0.00%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 1 $1,385,000 $1,385,000 $0 0.00%
GREEN BAY, WI (FHA|USDA|VA) 1 $1,135,000 $1,135,000 $0 0.00%
SALEM, OR (FHA|USDA|VA) 2 $1,130,000 $565,000 $0 0.00%
RALEIGH-CARY, NC (FHA|USDA|VA) 1 $1,095,000 $1,095,000 $0 0.00%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $895,000 $895,000 $0 0.00%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $855,000 $855,000 $0 4.25%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $805,000 $805,000 $0 0.00%
BEND, OR (FHA|USDA|VA) 1 $805,000 $805,000 $0 0.00%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $735,000 $735,000 $0 0.00%
RACINE, WI (FHA|USDA|VA) 1 $675,000 $675,000 $0 0.00%
SHEBOYGAN, WI (FHA|USDA|VA) 1 $655,000 $655,000 $0 0.00%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $585,000 $585,000 $0 0.00%
SANTA FE, NM (FHA|USDA|VA) 1 $585,000 $585,000 $0 0.00%
ALBUQUERQUE, NM (FHA|USDA|VA) 1 $585,000 $585,000 $0 0.00%
Los Alamos, NM (FHA|USDA|VA) 1 $555,000 $555,000 $0 0.00%
GREELEY, CO (FHA|USDA|VA) 1 $525,000 $525,000 $0 0.00%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1 $525,000 $525,000 $0 0.00%
Carroll, IA (FHA|USDA|VA) 1 $475,000 $475,000 $0 0.00%
Manitowoc, WI (FHA|USDA|VA) 2 $370,000 $185,000 $0 0.00%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
Waterstone Bank Ssb's top markets include Milwaukee, Wausau, Appleton, Minneapolis, and Fond Du Lac among others.

Their top states include:
  • Wisconsin (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 249 $221,195,000 $888,333 $0 4.50%
    HELOC 1 $75,000 $75,000 n/a 0.00%

    For 2018, Waterstone Bank Ssb's most frequently originated type of loan was Conventional, with 249 originations. Their 2nd most popular type was HELOC, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 180 $151,530,000 $841,833 $0 4.50%
    Cash Out Refi 30 $41,870,000 $1,395,667 $0 0.00%
    Refi 18 $19,290,000 $1,071,667 $0 0.00%
    Other 10 $1,280,000 $128,000 $0 0.00%
    NA 9 $6,975,000 $775,000 $0 0.00%
    Home Improvement 3 $325,000 $108,333 $0 0.00%

    For 2018, Waterstone Bank Ssb's most frequently cited loan purpose was Home Purchase, with 180 originations. The 2nd most popular reason was Cash Out Refi, with 30 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 249 $220,755,000 $886,566 $0 4.50%
    30 Year 1 $515,000 $515,000 $0 0.00%

    For 2018, Waterstone Bank Ssb's most frequently cited loan duration was Other, with 249 originations. The 2nd most popular length was 30 Year, with 1 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 2 $1,270,000 $635,000

    During 2018, Waterstone Bank Ssb's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 2 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $600k-1MM 57 $42,185,000 $740,088 $0 4.25%
    $400k-600k 53 $27,865,000 $525,755 $0 4.75%
    $1MM+ 51 $136,645,000 $2,679,314 $0 0.00%
    $100k-200k 33 $4,815,000 $145,909 $0 0.00%
    $200k-400k 30 $8,180,000 $272,667 $0 0.00%
    $100,000 or less 26 $1,580,000 $60,769 $0 0.00%

    2018 saw Waterstone Bank Ssb place emphasis on $600k-1MM loans with 57 originations, totaling $42,185,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 43 $26,265,000 $610,814 $0 0.00%
    $250k+ 42 $34,190,000 $814,048 $0 4.25%
    $100k-150k 12 $6,160,000 $513,333 $0 0.00%
    $75k-100k 10 $2,850,000 $285,000 $0 0.00%
    $50k-75k 6 $1,330,000 $221,667 $0 0.00%
    $50k or less 5 $605,000 $121,000 $0 0.00%

    Waterstone Bank Ssb lent most frequently to those with incomes in the $150k-250k range, with 43 originations. The second most popular income band? $250k+, with 42 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 132 $149,870,000 $1,135,379 $0 4.75%
    White 99 $58,865,000 $594,596 $0 4.25%
    Not provided 8 $6,140,000 $767,500 $0 0.00%
    Black 8 $5,270,000 $658,750 $0 0.00%
    Asian 2 $1,070,000 $535,000 $0 0.00%
    Chinese 1 $55,000 $55,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    91.79%

    Waterstone Bank Ssb has an average approval rate.

    Pick Rate

    Approvals leading to origination
    69.20%

    Waterstone Bank Ssb has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 250 $221,270,000 $885,080

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 76 $129,360,000 $1,702,105
    Single Family (1-4 Units):Site-Built 174 $91,910,000 $528,218

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    WATERSTONE MORTGAGE CORPORATION Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 33.3%
    WATERSTONE MORTGAGE CORPORATION Conventional home mortgage Closing on a mortgage 1 33.3%
    WATERSTONE MORTGAGE CORPORATION FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 33.3%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    WaterStone Bank, SSB 10101 West Greenfield Avenue West Allis, WI 53214 Full Service B&M $67,679
    WaterStone Bank, SSB 11200 West Plank Court Wauwatosa, WI 53226 Full Service B&M $0
    WaterStone Bank, SSB 1230 George Towne Drive Pewaukee, WI 53072 Full Service B&M $80,610
    WaterStone Bank, SSB 1239-45 Oconomowoc Drive Oconomowoc, WI 53066 Full Service B&M $37,334
    WaterStone Bank, SSB 17495 Capital Drive, Unit O Brookfield, WI 53045 Full Service B&M $31,738
    WaterStone Bank, SSB 21505 Highway 18 Brookfield, WI 53005 Full Service B&M $108,984
    WaterStone Bank, SSB 5000 West Loomis Road Greenfield, WI 53220 Full Service B&M $37,360
    WaterStone Bank, SSB 6555 South 108th Street Franklin, WI 53132 Full Service B&M $117,066
    WaterStone Bank, SSB 6560 S 27th Street Oak Creek, WI 53154 Full Service B&M $208,349
    WaterStone Bank, SSB 7136 West State Street Wauwatosa, WI 53213 Limited, Drive-thru $0
    WaterStone Bank, SSB 7500 West State Street Wauwatosa, WI 53213 Full Service B&M $246,128
    WaterStone Bank, SSB 8607 North Port Washington Road Fox Point, WI 53217 Full Service B&M $23,959
    WaterStone Bank, SSB W188 N9820 Appleton Ave Germantown, WI 53022 Full Service B&M $95,646

    For 2018, Waterstone Bank Ssb had 13 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $74,659
    Net interest income $55,081
    Total noninterest income $116,621
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $261
    Trading account gains and fees $0
    Additional Noninterest Income $116,360
    Pre-tax net operating income $40,238
    Securities gains (or losses, -) $0
    Income before extraordinary items $30,722
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $30,722
    Minority interest net income $0
    Net income $30,722
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $30,722

    Waterstone Bank Ssb's gross interest income from loans was $74,659,000.
    Waterstone Bank Ssb's net interest income from loans was $55,081,000.
    Waterstone Bank Ssb's fee based income from loans was $261,000.
    Waterstone Bank Ssb's net income from loans was $30,722,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $19,578
    Provision for credit losses $-1,060
    Total noninterest expense $132,524
    Salaries and employee benefits $98,469
    Premises and equipment expense $9,128
    Additional noninterest expense $24,927
    Applicable income taxes $9,516
    Net charge-offs $-232
    Cash dividends $36,535

    Waterstone Bank Ssb's interest expense for loans was $19,578,000.
    Waterstone Bank Ssb's payroll and benefits expense were $98,469,000.
    Waterstone Bank Ssb's property, plant and equipment expenses $9,128,000.

    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 $1,083,912
    Deposits held in domestic offices $1,083,912
    Deposits by Individuals, partnerships, and corporations $1,073,708
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $10,204
    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 $54,887
    Demand deposits $48,672
    Nontransaction accounts $1,029,025
    Money market deposit accounts (MMDAs) $126,268
    Other savings deposits (excluding MMDAs) $166,885
    Total time deposits $735,872
    Total time and savings deposits $1,035,240
    Noninterest-bearing deposits $48,672
    Interest-bearing deposits $1,035,240
    Retail deposits $1,023,839
    IRAs and Keogh plan accounts $93,434
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,911,865
    Cash & Balances due from depository institutions $70,147
    Interest-bearing balances $35,722
    Total securities $198,487
    Federal funds sold & reverse repurchase $3,186
    Net loans and leases $1,507,514
    Loan and leases loss allowance $13,249
    Trading account assets $0
    Bank premises and fixed assets $23,970
    Other real estate owned $2,152
    Goodwill and other intangibles $832
    All other assets $105,577

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,911,865
    Total Liabilities $1,530,968
    Total deposits $1,083,912
    Interest-bearing deposits $1,035,240
    Deposits held in domestic offices $1,083,912
    % insured (estimated) $94
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $435,046
    Subordinated debt $0
    All other liabilities $12,010

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,507,514
    Loan and leases loss allowance $13,249
    Total loans and leases (domestic) $1,520,763
    All real estate loans $1,489,064
    Real estate loans in domestic offices $1,489,064
    Construction and development loans $13,361
    Residential 1-4 family construction $0
    Other construction, all land development and other land $13,361
    Loans secured by nonfarm nonresidential properties $225,522
    Nonfarm nonresidential secured by owner-occupied properties $57,211
    Commercial real estate & other non-farm, non-residential $168,311
    Multifamily residential real estate $597,087
    1-4 family residential loans $653,094
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $32,810
    To non-U.S. addressees $0
    Loans to individuals $433
    Credit card loans $204
    Related Plans $0
    Consumer Auto Loans $156
    Other loans to individuals $73
    All other loans & leases $17
    Loans to foreign governments and official institutions $0
    Other loans $17
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $32,810
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $5,499
    Non 1-4 family restructured loans & leases $2,759
    Total loans and leases (foreign) $0

    WaterStone Bank SSB had $1,507,514,000 of loans outstanding in 2018. $1,489,064,000 of loans were in real estate loans. $13,361,000 of loans were in development loans. $597,087,000 of loans were in multifamily mortgage loans. $653,094,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $204,000 of loans were in credit card loans. $156,000 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 203 $56,076 $276,236
    Nonfarm, nonresidential loans - <$100k 36 $1,377 $38,250
    Nonfarm, nonresidential loans - $100-250k 54 $6,882 $127,444
    Nonfarm, nonresidential loans - $250k-1MM 113 $47,817 $423,159
    Commercial & Industrial, US addressed loans - <$1MM 158 $15,319 $96,956
    Commercial & Industrial, US addressed loans - <$100k 89 $2,103 $23,629
    Commercial & Industrial, US addressed loans - $100-250k 32 $2,519 $78,719
    Commercial & Industrial, US addressed loans - $250k-1MM 37 $10,697 $289,108