Waterstone Bank Ssb Mortgage Rates, Fees & Info
Wauwatosa, WILEI: 549300GDJSUYPH6UC416
Tax ID: 39-0691250
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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, Baraboo, Oshkosh, Des Moines, and Appleton among others. We have data for 25 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
141Origination Dollar Volume (All Markets)
$139,485,000Employee count
870Top 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) | 105 | $89,005,000 | $847,667 | $0 | 0.00% |
| Baraboo, WI (FHA|USDA|VA) | 1 | $6,705,000 | $6,705,000 | $0 | 0.00% |
| OSHKOSH-NEENAH, WI (FHA|USDA|VA) | 2 | $5,880,000 | $2,940,000 | $0 | 0.00% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 1 | $5,805,000 | $5,805,000 | $0 | 0.00% |
| APPLETON, WI (FHA|USDA|VA) | 2 | $5,390,000 | $2,695,000 | $0 | 0.00% |
| Whitewater, WI (FHA|USDA|VA) | 1 | $3,575,000 | $3,575,000 | $0 | 0.00% |
| Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) | 3 | $3,335,000 | $1,111,667 | $0 | 0.00% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 3 | $2,965,000 | $988,333 | $0 | 0.00% |
| JANESVILLE-BELOIT, WI (FHA|USDA|VA) | 2 | $2,510,000 | $1,255,000 | $0 | 0.00% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 2 | $1,840,000 | $920,000 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $1,670,000 | $835,000 | $0 | 0.00% |
| SANTA FE, NM (FHA|USDA|VA) | 2 | $1,630,000 | $815,000 | $0 | 0.00% |
| SPRINGFIELD, IL (FHA|USDA|VA) | 2 | $1,500,000 | $750,000 | $0 | 0.00% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $1,320,000 | $660,000 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 1 | $1,195,000 | $1,195,000 | $0 | 0.00% |
| Manitowoc, WI (FHA|USDA|VA) | 1 | $965,000 | $965,000 | $0 | 0.00% |
| BOISE CITY, ID (FHA|USDA|VA) | 1 | $925,000 | $925,000 | $0 | 0.00% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 1 | $895,000 | $895,000 | $0 | 0.00% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $745,000 | $745,000 | $0 | 0.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $0 | 0.00% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $0 | 0.00% |
| Beaver Dam, WI (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| GREEN BAY, WI (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| Watertown-Fort Atkinson, WI (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 141 | $139,485,000 | $989,255 | $0 | 0.00% |
For 2021, Waterstone Bank Ssb's most frequently originated type of loan was Conventional, with 141 originations.
Loan Reason
For 2021, Waterstone Bank Ssb's most frequently cited loan purpose was Home Purchase, with 93 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 | 141 | $139,485,000 | $989,255 | $0 | 0.00% |
For 2021, Waterstone Bank Ssb's most frequently cited loan duration was Other, with 141 originations.
Loan Sizing
2021 saw Waterstone Bank Ssb place emphasis on $200k-400k loans with 39 originations, totaling $11,445,000 in origination value.
Applicant Income
Waterstone Bank Ssb lent most frequently to those with incomes in the $250k+ range, with 14 originations. The second most popular income band? $150k-250k, with 10 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 141 | $139,485,000 | $989,255 | $0 | 0.00% |
Waterstone Bank Ssb lent most frequently to those with DTI ratios of Exempt%, with 141 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.46%
Waterstone Bank Ssb has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination63.12%
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 |
|---|---|---|---|
| Exempt | 141 | $139,485,000 | $989,255 |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| WATERSTONE MORTGAGE CORPORATION | Conventional home mortgage | Closing on a mortgage | 3 | 50.0% |
| WATERSTONE MORTGAGE CORPORATION | Conventional home mortgage | Trouble during payment process | 1 | 16.7% |
| WATERSTONE MORTGAGE CORPORATION | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 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 | $74,941 |
| Waterstone Bank, SSB | 10296 West National Avenue West Allis, WI 53227 | Full Service B&M | $17,644 |
| 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 | $91,524 |
| Waterstone Bank, SSB | 1239-45 Oconomowoc Drive Oconomowoc, WI 53066 | Full Service B&M | $45,484 |
| Waterstone Bank, SSB | 17495 Capital Drive, Unit O Brookfield, WI 53045 | Full Service B&M | $47,532 |
| Waterstone Bank, SSB | 17495 W Capitol Dr Brookfield, WI 53045 | Full Service B&M | $136,704 |
| Waterstone Bank, SSB | 5000 West Loomis Road Greenfield, WI 53220 | Full Service B&M | $76,606 |
| Waterstone Bank, SSB | 6555 South 108th Street Franklin, WI 53132 | Full Service B&M | $127,443 |
| Waterstone Bank, SSB | 6560 S 27th Street Oak Creek, WI 53154 | Full Service B&M | $215,358 |
| Waterstone Bank, SSB | 6801 West Oklahoma Avenue Milwaukee, WI 53219 | Full Service B&M | $5,428 |
| 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 | $289,685 |
| Waterstone Bank, SSB | 8607 North Port Washington Road Fox Point, WI 53217 | Full Service B&M | $45,332 |
| Waterstone Bank, SSB | 8780 South Howell Avenue Oak Creek, WI 53154 | Full Service B&M | $16,469 |
| Waterstone Bank, SSB | W188 N9820 Appleton Ave Germantown, WI 53022 | Full Service B&M | $115,255 |
For 2021, Waterstone Bank Ssb had 16 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $72,294 |
| Net interest income | $57,835 |
| Total noninterest income | $197,477 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $267 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $197,210 |
| Pre-tax net operating income | $92,203 |
| Securities gains (or losses, -) | $-4 |
| Income before extraordinary items | $70,862 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $70,862 |
| Minority interest net income | $0 |
| Net income | $70,862 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $70,865 |
Waterstone Bank Ssb's gross interest income from loans was $72,294,000.
Waterstone Bank Ssb's net interest income from loans was $57,835,000.
Waterstone Bank Ssb's fee based income from loans was $267,000.
Waterstone Bank Ssb's net income from loans was $70,862,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $14,459 |
| Provision for credit losses | $-3,990 |
| Total noninterest expense | $167,099 |
| Salaries and employee benefits | $135,491 |
| Premises and equipment expense | $8,206 |
| Additional noninterest expense | $23,402 |
| Applicable income taxes | $21,337 |
| Net charge-offs | $-945 |
| Cash dividends | $63,564 |
Waterstone Bank Ssb's interest expense for loans was $14,459,000.
Waterstone Bank Ssb's payroll and benefits expense were $135,491,000.
Waterstone Bank Ssb's property, plant and equipment expenses $8,206,000.
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 | $1,328,101 |
| Deposits held in domestic offices | $1,328,101 |
| Deposits by Individuals, partnerships, and corporations | $1,319,707 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $8,393 |
| 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 | $54,776 |
| Demand deposits | $45,165 |
| Nontransaction accounts | $1,273,324 |
| Money market deposit accounts (MMDAs) | $385,827 |
| Other savings deposits (excluding MMDAs) | $260,834 |
| Total time deposits | $626,663 |
| Total time and savings deposits | $1,282,935 |
| Noninterest-bearing deposits | $45,164 |
| Interest-bearing deposits | $1,282,937 |
| Retail deposits | $1,255,937 |
| IRAs and Keogh plan accounts | $81,789 |
| Brokered deposits | $14,284 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $2,209,533 |
| Cash & Balances due from depository institutions | $375,433 |
| Interest-bearing balances | $352,323 |
| Total securities | $180,304 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $1,502,745 |
| Loan and leases loss allowance | $15,778 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $28,056 |
| Other real estate owned | $148 |
| Goodwill and other intangibles | $2,175 |
| All other assets | $120,672 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $2,209,533 |
| Total Liabilities | $1,831,286 |
| Total deposits | $1,328,101 |
| Interest-bearing deposits | $1,282,937 |
| Deposits held in domestic offices | $1,328,101 |
| % insured (estimated) | $80 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $477,127 |
| Subordinated debt | $0 |
| All other liabilities | $26,058 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $1,502,745 |
| Loan and leases loss allowance | $15,778 |
| Total loans and leases (domestic) | $1,518,523 |
| All real estate loans | $1,497,275 |
| Real estate loans in domestic offices | $1,497,275 |
| Construction and development loans | $82,588 |
| Residential 1-4 family construction | $0 |
| Other construction, all land development and other land | $82,588 |
| Loans secured by nonfarm nonresidential properties | $250,676 |
| Nonfarm nonresidential secured by owner-occupied properties | $66,406 |
| Commercial real estate & other non-farm, non-residential | $184,270 |
| Multifamily residential real estate | $537,956 |
| 1-4 family residential loans | $626,055 |
| Farmland loans | $0 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $22,298 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $732 |
| Credit card loans | $725 |
| Related Plans | $0 |
| Consumer Auto Loans | $7 |
| Other loans to individuals | $0 |
| All other loans & leases | $5 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $5 |
| 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 | $2,319 |
| Non 1-4 family restructured loans & leases | $2,319 |
| Total loans and leases (foreign) | $0 |
WaterStone Bank SSB had $1,502,745,000 of loans outstanding in 2021. $1,497,275,000 of loans were in real estate loans. $82,588,000 of loans were in development loans. $537,956,000 of loans were in multifamily mortgage loans. $626,055,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $725,000 of loans were in credit card loans. $7,000 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 | 187 | $51,695 | $276,444 |
| Nonfarm, nonresidential loans - <$100k | 20 | $617 | $30,850 |
| Nonfarm, nonresidential loans - $100-250k | 56 | $7,525 | $134,375 |
| Nonfarm, nonresidential loans - $250k-1MM | 111 | $43,553 | $392,369 |
| Commercial & Industrial, US addressed loans - <$1MM | 82 | $9,871 | $120,378 |
| Commercial & Industrial, US addressed loans - <$100k | 40 | $1,117 | $27,925 |
| Commercial & Industrial, US addressed loans - $100-250k | 23 | $2,478 | $107,739 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 19 | $6,276 | $330,316 |