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 and Cash Out Refi loans. Waterstone Bank Ssb has a high proportion of conventional loans. Their top markets by origination volume include: Milwaukee, Beaver Dam, Minneapolis, Oshkosh, and Orlando among others. We have data for 54 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

245

Origination Dollar Volume (All Markets)

$186,005,000

Employee count

824

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) 124 $85,860,000 $692,419 $0 0.00%
Outside of Metro Areas 8 $14,380,000 $1,797,500 $0 0.00%
Beaver Dam, WI (FHA|USDA|VA) 3 $4,815,000 $1,605,000 $0 0.00%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 6 $4,740,000 $790,000 $0 0.00%
OSHKOSH-NEENAH, WI (FHA|USDA|VA) 4 $4,710,000 $1,177,500 $0 0.00%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 6 $4,250,000 $708,333 $0 0.00%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 7 $4,225,000 $603,571 $0 0.00%
SANTA FE, NM (FHA|USDA|VA) 6 $3,720,000 $620,000 $0 0.00%
ROCKFORD, IL (FHA|USDA|VA) 1 $3,185,000 $3,185,000 $0 0.00%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 6 $3,150,000 $525,000 $0 0.00%
Shawano, WI (FHA|USDA|VA) 1 $3,115,000 $3,115,000 $0 0.00%
ALBUQUERQUE, NM (FHA|USDA|VA) 7 $2,895,000 $413,571 $0 0.00%
APPLETON, WI (FHA|USDA|VA) 4 $2,810,000 $702,500 $0 0.00%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 5 $2,655,000 $531,000 $0 0.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 4 $2,580,000 $645,000 $0 0.00%
Watertown-Fort Atkinson, WI (FHA|USDA|VA) 1 $2,545,000 $2,545,000 $0 0.00%
JANESVILLE-BELOIT, WI (FHA|USDA|VA) 2 $2,490,000 $1,245,000 $0 0.00%
WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 1 $2,075,000 $2,075,000 $0 0.00%
RALEIGH-CARY, NC (FHA|USDA|VA) 4 $2,010,000 $502,500 $0 0.00%
EAU CLAIRE, WI (FHA|USDA|VA) 1 $1,995,000 $1,995,000 $0 0.00%
SALISBURY, MD-DE (FHA|USDA|VA) 3 $1,845,000 $615,000 $0 0.00%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 3 $1,795,000 $598,333 $0 0.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $1,425,000 $1,425,000 $0 0.00%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 1 $1,405,000 $1,405,000 $0 0.00%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $1,325,000 $1,325,000 $0 0.00%
SHEBOYGAN, WI (FHA|USDA|VA) 1 $1,255,000 $1,255,000 $0 0.00%
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 1 $1,225,000 $1,225,000 $0 0.00%
BOISE CITY, ID (FHA|USDA|VA) 2 $1,180,000 $590,000 $0 0.00%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 2 $1,180,000 $590,000 $0 0.00%
FOND DU LAC, WI (FHA|USDA|VA) 2 $1,170,000 $585,000 $0 0.00%
LYNCHBURG, VA (FHA|USDA|VA) 1 $1,145,000 $1,145,000 $0 0.00%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $1,115,000 $1,115,000 $0 0.00%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $975,000 $975,000 $0 0.00%
TULSA, OK (FHA|USDA|VA) 2 $840,000 $420,000 $0 0.00%
Mason City, IA (FHA|USDA|VA) 1 $785,000 $785,000 $0 0.00%
RACINE, WI (FHA|USDA|VA) 2 $770,000 $385,000 $0 0.00%
GREEN BAY, WI (FHA|USDA|VA) 1 $755,000 $755,000 $0 0.00%
KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $745,000 $745,000 $0 0.00%
LAS CRUCES, NM (FHA|USDA|VA) 1 $715,000 $715,000 $0 0.00%
Stevens Point, WI (FHA|USDA|VA) 1 $655,000 $655,000 $0 0.00%
SALT LAKE CITY, UT (FHA|USDA|VA) 1 $645,000 $645,000 $0 0.00%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 1 $625,000 $625,000 $0 0.00%
Astoria, OR (FHA|USDA|VA) 1 $595,000 $595,000 $0 0.00%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $565,000 $565,000 $0 0.00%
Las Vegas, NM (FHA|USDA|VA) 1 $545,000 $545,000 $0 0.00%
Clinton, IA (FHA|USDA|VA) 1 $465,000 $465,000 $0 0.00%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $425,000 $425,000 $0 0.00%
Gallup, NM (FHA|USDA|VA) 2 $320,000 $160,000 $0 0.00%
Whitewater, WI (FHA|USDA|VA) 1 $295,000 $295,000 $0 0.00%
DOVER, DE (FHA|USDA|VA) 1 $285,000 $285,000 $0 0.00%
MADISON, WI (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 1 $95,000 $95,000 $0 0.00%
Waterstone Bank Ssb's top markets include Milwaukee, Beaver Dam, Minneapolis, Oshkosh, and Orlando among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 245 $186,005,000 $759,204 $0 0.00%

    For 2019, Waterstone Bank Ssb's most frequently originated type of loan was Conventional, with 245 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 198 $130,710,000 $660,152 $0 0.00%
    Cash Out Refi 21 $45,335,000 $2,158,810 $0 0.00%
    Refi 17 $6,165,000 $362,647 $0 0.00%
    Home Improvement 3 $475,000 $158,333 $0 0.00%
    Other 3 $1,535,000 $511,667 $0 0.00%
    NA 3 $1,785,000 $595,000 $0 0.00%

    For 2019, Waterstone Bank Ssb's most frequently cited loan purpose was Home Purchase, with 198 originations. The 2nd most popular reason was Cash Out Refi, with 21 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 245 $186,005,000 $759,204 $0 0.00%

    For 2019, Waterstone Bank Ssb's most frequently cited loan duration was Other, with 245 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $600k-1MM 54 $40,080,000 $742,222 $0 0.00%
    $200k-400k 52 $14,610,000 $280,962 $0 0.00%
    $1MM+ 42 $103,090,000 $2,454,524 $0 0.00%
    $400k-600k 41 $21,285,000 $519,146 $0 0.00%
    $100k-200k 37 $5,695,000 $153,919 $0 0.00%
    $100,000 or less 19 $1,245,000 $65,526 $0 0.00%

    2019 saw Waterstone Bank Ssb place emphasis on $600k-1MM loans with 54 originations, totaling $40,080,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 37 $20,955,000 $566,351 $0 0.00%
    $250k+ 33 $21,915,000 $664,091 $0 0.00%
    $100k-150k 22 $8,430,000 $383,182 $0 0.00%
    $50k-75k 9 $1,845,000 $205,000 $0 0.00%
    $75k-100k 9 $2,615,000 $290,556 $0 0.00%
    $50k or less 8 $3,960,000 $495,000 $0 0.00%

    Waterstone Bank Ssb lent most frequently to those with incomes in the $150k-250k range, with 37 originations. The second most popular income band? $250k+, with 33 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 245 $186,005,000 $759,204 $0 0.00%

    Waterstone Bank Ssb lent most frequently to those with DTI ratios of Exempt%, with 245 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 127 $126,285,000 $994,370 $0 0.00%
    White 94 $45,860,000 $487,872 $0 0.00%
    Not provided 12 $7,160,000 $596,667 $0 0.00%
    Black 9 $4,515,000 $501,667 $0 0.00%
    Chinese 1 $1,325,000 $1,325,000 $0 0.00%
    Asian Indian 1 $685,000 $685,000 $0 0.00%
    American Indian 1 $175,000 $175,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.80%

    Waterstone Bank Ssb has an average approval rate.

    Pick Rate

    Approvals leading to origination
    79.18%

    Waterstone Bank Ssb has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 245 $186,005,000 $759,204

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 91 $115,295,000 $1,266,978
    Single Family (1-4 Units):Site-Built 154 $70,710,000 $459,156

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    WATERSTONE MORTGAGE CORPORATION FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 20.0%
    WATERSTONE MORTGAGE CORPORATION FHA mortgage Closing on a mortgage 2 40.0%
    WATERSTONE MORTGAGE CORPORATION Other type of mortgage Closing on a mortgage 1 20.0%
    WATERSTONE MORTGAGE CORPORATION VA mortgage Closing on a mortgage 1 20.0%

    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 $76,128
    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 $79,950
    WaterStone Bank, SSB 1239-45 Oconomowoc Drive Oconomowoc, WI 53066 Full Service B&M $39,909
    WaterStone Bank, SSB 17495 Capital Drive, Unit O Brookfield, WI 53045 Full Service B&M $38,630
    WaterStone Bank, SSB 21505 Highway 18 Brookfield, WI 53005 Full Service B&M $114,026
    WaterStone Bank, SSB 5000 West Loomis Road Greenfield, WI 53220 Full Service B&M $44,698
    WaterStone Bank, SSB 6555 South 108th Street Franklin, WI 53132 Full Service B&M $125,444
    WaterStone Bank, SSB 6560 S 27th Street Oak Creek, WI 53154 Full Service B&M $213,693
    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 $268,445
    WaterStone Bank, SSB 8607 North Port Washington Road Fox Point, WI 53217 Full Service B&M $31,041
    WaterStone Bank, SSB W188 N9820 Appleton Ave Germantown, WI 53022 Full Service B&M $103,103

    For 2019, Waterstone Bank Ssb had 13 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $80,828
    Net interest income $53,220
    Total noninterest income $129,076
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $286
    Trading account gains and fees $0
    Additional Noninterest Income $128,790
    Pre-tax net operating income $47,401
    Securities gains (or losses, -) $15
    Income before extraordinary items $35,784
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $35,784
    Minority interest net income $0
    Net income $35,784
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $35,772

    Waterstone Bank Ssb's gross interest income from loans was $80,828,000.
    Waterstone Bank Ssb's net interest income from loans was $53,220,000.
    Waterstone Bank Ssb's fee based income from loans was $286,000.
    Waterstone Bank Ssb's net income from loans was $35,784,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $27,608
    Provision for credit losses $-900
    Total noninterest expense $135,795
    Salaries and employee benefits $102,387
    Premises and equipment expense $9,132
    Additional noninterest expense $24,276
    Applicable income taxes $11,632
    Net charge-offs $-38
    Cash dividends $78,456

    Waterstone Bank Ssb's interest expense for loans was $27,608,000.
    Waterstone Bank Ssb's payroll and benefits expense were $102,387,000.
    Waterstone Bank Ssb's property, plant and equipment expenses $9,132,000.

    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 $1,145,934
    Deposits held in domestic offices $1,145,934
    Deposits by Individuals, partnerships, and corporations $1,135,312
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $10,322
    Deposits by Commercial banks and other depository institutions in U.S. $300
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $40,669
    Demand deposits $34,550
    Nontransaction accounts $1,105,265
    Money market deposit accounts (MMDAs) $198,333
    Other savings deposits (excluding MMDAs) $167,161
    Total time deposits $739,771
    Total time and savings deposits $1,111,384
    Noninterest-bearing deposits $34,550
    Interest-bearing deposits $1,111,384
    Retail deposits $1,075,245
    IRAs and Keogh plan accounts $90,104
    Brokered deposits $3,292
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,993,170
    Cash & Balances due from depository institutions $65,518
    Interest-bearing balances $47,761
    Total securities $187,258
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,595,767
    Loan and leases loss allowance $12,387
    Trading account assets $0
    Bank premises and fixed assets $33,085
    Other real estate owned $748
    Goodwill and other intangibles $965
    All other assets $109,829

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,993,170
    Total Liabilities $1,650,875
    Total deposits $1,145,934
    Interest-bearing deposits $1,111,384
    Deposits held in domestic offices $1,145,934
    % insured (estimated) $93
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $483,562
    Subordinated debt $0
    All other liabilities $21,379

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,595,767
    Loan and leases loss allowance $12,387
    Total loans and leases (domestic) $1,608,154
    All real estate loans $1,578,804
    Real estate loans in domestic offices $1,578,804
    Construction and development loans $37,033
    Residential 1-4 family construction $494
    Other construction, all land development and other land $36,539
    Loans secured by nonfarm nonresidential properties $236,703
    Nonfarm nonresidential secured by owner-occupied properties $61,808
    Commercial real estate & other non-farm, non-residential $174,895
    Multifamily residential real estate $584,467
    1-4 family residential loans $720,601
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $30,253
    To non-U.S. addressees $0
    Loans to individuals $831
    Credit card loans $716
    Related Plans $0
    Consumer Auto Loans $48
    Other loans to individuals $67
    All other loans & leases $33
    Loans to foreign governments and official institutions $0
    Other loans $33
    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 $3,018
    Non 1-4 family restructured loans & leases $278
    Total loans and leases (foreign) $0

    WaterStone Bank SSB had $1,595,767,000 of loans outstanding in 2019. $1,578,804,000 of loans were in real estate loans. $37,033,000 of loans were in development loans. $584,467,000 of loans were in multifamily mortgage loans. $720,601,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $716,000 of loans were in credit card loans. $48,000 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 204 $53,663 $263,054
    Nonfarm, nonresidential loans - <$100k 28 $960 $34,286
    Nonfarm, nonresidential loans - $100-250k 60 $7,180 $119,667
    Nonfarm, nonresidential loans - $250k-1MM 116 $45,523 $392,440
    Commercial & Industrial, US addressed loans - <$1MM 145 $13,913 $95,952
    Commercial & Industrial, US addressed loans - <$100k 72 $1,387 $19,264
    Commercial & Industrial, US addressed loans - $100-250k 36 $3,224 $89,556
    Commercial & Industrial, US addressed loans - $250k-1MM 37 $9,302 $251,405