Horicon Bank Mortgage Rates, Fees & Info

Horicon, WI

LEI: 549300GIXEN5875K5W17

Tax ID: 39-0356800

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
  • Complaints
  • 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

    Horicon Bank is a smaller bank specializing in Home Purchase loans. Horicon Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Beaver Dam, Milwaukee, Fond Du Lac, Oshkosh, and Appleton among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Horicon 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. Horicon 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 6.40% 12/16/24
    30 Year Conventional Refi 6.44% 12/16/24
    30 Year Cash-out Refi 6.47% 12/16/24
    30 Year USDA Purchase 7.04% 12/16/24
    15 Year Conventional Purchase 6.05% 12/16/24
    15 Year Conventional Refi 6.06% 12/16/24
    15 Year Cash-out Refi 6.06% 12/16/24
    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.

    Horicon Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Horicon 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

    437

    Origination Dollar Volume (All Markets)

    $62,925,000

    Employee count

    166 Show all (9) 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
    Beaver Dam, WI (FHA|USDA|VA) 176 $21,930,000 $124,602 $1,210 5.09%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 58 $11,050,000 $190,517 $1,333 5.04%
    FOND DU LAC, WI (FHA|USDA|VA) 77 $10,085,000 $130,974 $1,154 5.02%
    Outside of Metro Areas 41 $6,465,000 $157,683 $1,307 4.91%
    OSHKOSH-NEENAH, WI (FHA|USDA|VA) 41 $6,435,000 $156,951 $1,369 4.83%
    APPLETON, WI (FHA|USDA|VA) 16 $2,610,000 $163,125 $1,513 4.87%
    SHEBOYGAN, WI (FHA|USDA|VA) 3 $1,095,000 $365,000 $1,034 4.79%
    MADISON, WI (FHA|USDA|VA) 8 $1,070,000 $133,750 $971 4.95%
    GREEN BAY, WI (FHA|USDA|VA) 3 $385,000 $128,333 $1,554 4.58%
    WAUSAU-WESTON, WI (FHA|USDA|VA) 1 $365,000 $365,000 $1,528 5.63%
    Marinette, WI-MI (FHA|USDA|VA) 5 $345,000 $69,000 $1,220 4.63%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $255,000 $255,000 $2,595 4.63%
    Whitewater, WI (FHA|USDA|VA) 1 $215,000 $215,000 $921 5.25%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $205,000 $205,000 $1,325 6.63%
    DULUTH, MN-WI (FHA|USDA|VA) 1 $165,000 $165,000 $1,448 5.00%
    Baraboo, WI (FHA|USDA|VA) 1 $115,000 $115,000 $1,448 7.38%
    Watertown-Fort Atkinson, WI (FHA|USDA|VA) 2 $100,000 $50,000 $682 7.44%
    Marquette, MI (FHA|USDA|VA) 1 $35,000 $35,000 $1,782 7.00%
    Horicon Bank's top markets include Beaver Dam, Milwaukee, Fond Du Lac, Oshkosh, and Appleton among others.

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

    • Similar Lenders

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

    AppleTree Credit Union
    Similarity Rank: 10
    NORTHWESTERN MUTUAL
    Similarity Rank: 12
    CAPITAL Credit Union
    Similarity Rank: 64
    Kohler Credit Union
    Similarity Rank: 128
    Empower Credit Union
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    United Community Bank
    Similarity Rank: 147
    State Bank of Cross Plains
    Similarity Rank: 207
    HERITAGE CREDIT UNION
    Similarity Rank: 221
    VERVE, A CREDIT UNION
    Similarity Rank: 252
    PRIME FINANCIAL CREDIT UNION
    Similarity Rank: 275

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 422 $61,230,000 $145,095 $1,190 5.03%
    USDA 15 $1,695,000 $113,000 $2,669 4.94%

    For 2018, Horicon Bank's most frequently originated type of loan was Conventional, with 422 originations. Their 2nd most popular type was USDA, with 15 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 270 $41,350,000 $153,148 $1,473 4.96%
    Cash Out Refi 86 $10,950,000 $127,326 $934 5.15%
    Refi 50 $7,610,000 $152,200 $1,017 4.85%
    Other 19 $2,525,000 $132,895 $830 5.53%
    Home Improvement 12 $490,000 $40,833 $357 5.75%

    For 2018, Horicon Bank's most frequently cited loan purpose was Home Purchase, with 270 originations. The 2nd most popular reason was Cash Out Refi, with 86 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 235 $40,115,000 $170,702 $1,463 4.90%
    15 Year 53 $5,975,000 $112,736 $1,180 5.00%
    10 Year 46 $2,870,000 $62,391 $563 5.38%
    5 Year 44 $4,190,000 $95,227 $465 5.29%
    20 Year 31 $4,615,000 $148,871 $1,096 5.17%
    Other 12 $1,910,000 $159,167 $439 5.02%
    1 Year 8 $2,490,000 $311,250 $1,113 5.12%
    3 Year 8 $760,000 $95,000 $364 5.20%

    For 2018, Horicon Bank's most frequently cited loan duration was 30 Year, with 235 originations. The 2nd most popular length was 15 Year, with 53 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 374 $55,420,000 $148,182
    $2k-3k 1 $125,000 $125,000
    $3k-4k 1 $135,000 $135,000

    Horicon Bank's average total fees were $1,463, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 374 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 286 $47,840,000 $167,273
    5-6% 97 $10,285,000 $106,031
    6-7% 19 $1,185,000 $62,368
    3-4% 17 $2,535,000 $149,118
    7-8% 13 $955,000 $73,462
    Over 8% 5 $125,000 $25,000

    During 2018, Horicon Bank's average interest rate for loans was 4.90%, while their most frequently originated rate bucket for loans was 4-5%, with 286 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 179 $25,165,000 $140,587 $1,490 4.89%
    $100,000 or less 168 $9,820,000 $58,452 $952 5.35%
    $200k-400k 74 $19,840,000 $268,108 $1,238 4.69%
    $400k-600k 12 $5,340,000 $445,000 $1,285 4.76%
    $600k-1MM 4 $2,760,000 $690,000 $1,203 5.06%

    2018 saw Horicon Bank place emphasis on $100k-200k loans with 179 originations, totaling $25,165,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 106 $11,440,000 $107,925 $1,275 5.05%
    $50k or less 91 $8,275,000 $90,934 $1,256 5.16%
    $100k-150k 76 $14,150,000 $186,184 $1,232 5.02%
    $75k-100k 68 $10,680,000 $157,059 $1,217 4.94%
    $150k-250k 35 $8,275,000 $236,429 $1,273 4.79%
    $250k+ 19 $4,725,000 $248,684 $1,141 5.02%

    Horicon Bank lent most frequently to those with incomes in the $50k-75k range, with 106 originations. The second most popular income band? $50k or less, with 91 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 110 $16,340,000 $148,545 $1,224 4.92%
    30-36% 86 $12,950,000 $150,581 $1,271 5.02%
    <20% 42 $5,480,000 $130,476 $1,253 4.92%
    40% 18 $2,640,000 $146,667 $1,239 5.12%
    37% 17 $2,905,000 $170,882 $1,294 5.01%
    36% 16 $2,950,000 $184,375 $1,348 5.05%
    39% 15 $2,245,000 $149,667 $1,476 5.03%
    42% 14 $2,040,000 $145,714 $775 5.64%
    41% 12 $1,190,000 $99,167 $854 5.48%
    47% 10 $1,820,000 $182,000 $1,625 4.76%
    38% 9 $955,000 $106,111 $1,307 4.77%
    >60% 8 $610,000 $76,250 $1,611 5.29%
    44% 8 $1,070,000 $133,750 $1,299 5.08%
    45% 6 $1,320,000 $220,000 $1,343 4.71%
    48% 6 $980,000 $163,333 $1,474 4.71%
    46% 5 $615,000 $123,000 $1,062 4.68%
    49% 5 $545,000 $109,000 $1,186 4.98%
    43% 5 $505,000 $101,000 $1,120 5.00%
    50-60% 3 $345,000 $115,000 $1,035 5.46%

    Horicon Bank lent most frequently to those with DTI ratios of 20-30%, with 110 originations. The next most common DTI ratio? 30-36%, with 86 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 389 $57,025,000 $146,594 $1,237 5.04%
    Not applicable 26 $2,790,000 $107,308 $0 5.15%
    Not provided 17 $2,455,000 $144,412 $1,479 4.69%
    Asian 2 $280,000 $140,000 $1,781 4.75%
    American Indian 2 $230,000 $115,000 $1,148 4.56%
    Vietnamese 1 $145,000 $145,000 $1,764 4.63%

    Approval Rates

    Total approvals of all applications
    91.89%

    Horicon Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    91.08%

    Horicon Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    193.7 1 $45,000 $45,000
    NA 436 $62,880,000 $144,220

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 7 $1,585,000 $226,429
    Single Family (1-4 Units):Manufactured 14 $580,000 $41,429
    Single Family (1-4 Units):Site-Built 416 $60,760,000 $146,058

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 37 $2,335,000 $63,108 $680 5.32%
    40-60% 63 $9,385,000 $148,968 $1,087 4.78%
    60-80% 172 $29,200,000 $169,767 $1,326 4.93%
    80-100% 136 $21,090,000 $155,074 $1,576 4.99%
    Under 20% 29 $915,000 $31,552 $395 6.03%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Horizon Financial Group, Inc. FHA mortgage Closing on a mortgage 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Horicon Bank 100 East Midway Road Appleton, WI 54915 Full Service B&M $19,604
    Horicon Bank 105 Industrial Drive Beaver Dam, WI 53916 Full Service B&M $122,558
    Horicon Bank 1188 West Fond Du Lac Street Ripon, WI 54971 Full Service Retail $5,950
    Horicon Bank 1207 West Johnson Street Fond Du Lac, WI 54935 Full Service B&M $15,425
    Horicon Bank 1440 Horicon Street Mayville, WI 53050 Full Service Retail $7,128
    Horicon Bank 1535 West Paradise Drive West Bend, WI 53095 Full Service B&M $61,896
    Horicon Bank 156 South Main Street Iron Ridge, WI 53035 Full Service B&M $21,605
    Horicon Bank 2251 Omro Road Oshkosh, WI 54904 Full Service B&M $38,827
    Horicon Bank 226 Schuyler Street Neosho, WI 53059 Full Service B&M $20,346
    Horicon Bank 326 East Lake Street Horicon, WI 53032 Full Service B&M $141,549
    Horicon Bank 400 Watson Street Ripon, WI 54971 Full Service B&M $65,993
    Horicon Bank 515 Hill Street Green Lake, WI 54941 Full Service B&M $52,137
    Horicon Bank 609 North Spring Street Beaver Dam, WI 53916 Full Service Retail $4,823
    Horicon Bank 810 Park Avenue Beaver Dam, WI 53916 Full Service Retail $7,285
    Horicon Bank 854 East Johnson Street Fond Du Lac, WI 54935 Full Service B&M $63,444

    For 2018, Horicon Bank had 15 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $31,414
    Net interest income $27,343
    Total noninterest income $4,213
    Gross Fiduciary activities income $1
    Service charges on deposit accounts $935
    Trading account gains and fees $0
    Additional Noninterest Income $3,277
    Pre-tax net operating income $9,859
    Securities gains (or losses, -) $-183
    Income before extraordinary items $8,883
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $8,883
    Minority interest net income $0
    Net income $8,883
    Sale, conversion, retirement of capital stock, net $298
    Net operating income $9,051

    Horicon Bank's gross interest income from loans was $31,414,000.
    Horicon Bank's net interest income from loans was $27,343,000.
    Horicon Bank's fee based income from loans was $935,000.
    Horicon Bank's net income from loans was $8,883,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,071
    Provision for credit losses $1,202
    Total noninterest expense $20,495
    Salaries and employee benefits $12,624
    Premises and equipment expense $2,278
    Additional noninterest expense $5,593
    Applicable income taxes $793
    Net charge-offs $311
    Cash dividends $5,945

    Horicon Bank's interest expense for loans was $4,071,000.
    Horicon Bank's payroll and benefits expense were $12,624,000.
    Horicon Bank's property, plant and equipment expenses $2,278,000.

    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 1.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 1.0%
    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 $669,878
    Deposits held in domestic offices $669,878
    Deposits by Individuals, partnerships, and corporations $642,585
    Deposits by U.S. Government $2
    Deposits by States and political subdivisions in the U.S. $27,291
    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 $232,013
    Demand deposits $159,727
    Nontransaction accounts $437,865
    Money market deposit accounts (MMDAs) $207,626
    Other savings deposits (excluding MMDAs) $64,966
    Total time deposits $165,273
    Total time and savings deposits $510,151
    Noninterest-bearing deposits $159,727
    Interest-bearing deposits $510,151
    Retail deposits $600,760
    IRAs and Keogh plan accounts $14,046
    Brokered deposits $49,342
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $755,829
    Cash & Balances due from depository institutions $81,245
    Interest-bearing balances $68,799
    Total securities $19,687
    Federal funds sold & reverse repurchase $357
    Net loans and leases $634,782
    Loan and leases loss allowance $6,371
    Trading account assets $0
    Bank premises and fixed assets $13,490
    Other real estate owned $76
    Goodwill and other intangibles $1,931
    All other assets $4,261

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $755,829
    Total Liabilities $677,030
    Total deposits $669,878
    Interest-bearing deposits $510,151
    Deposits held in domestic offices $669,878
    % insured (estimated) $81
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $445
    Subordinated debt $0
    All other liabilities $6,707

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $634,782
    Loan and leases loss allowance $6,371
    Total loans and leases (domestic) $641,153
    All real estate loans $494,038
    Real estate loans in domestic offices $494,038
    Construction and development loans $35,012
    Residential 1-4 family construction $14,801
    Other construction, all land development and other land $20,211
    Loans secured by nonfarm nonresidential properties $246,100
    Nonfarm nonresidential secured by owner-occupied properties $158,361
    Commercial real estate & other non-farm, non-residential $87,739
    Multifamily residential real estate $13,022
    1-4 family residential loans $122,431
    Farmland loans $77,473
    Loans held in foreign offices $0
    Farm loans $31,858
    Commercial and industrial loans $103,716
    To non-U.S. addressees $0
    Loans to individuals $6,099
    Credit card loans $281
    Related Plans $7
    Consumer Auto Loans $2,939
    Other loans to individuals $2,872
    All other loans & leases $5,442
    Loans to foreign governments and official institutions $0
    Other loans $2,045
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $5,838
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $12,012
    Non 1-4 family restructured loans & leases $11,136
    Total loans and leases (foreign) $0

    Horicon Bank had $634,782,000 of loans outstanding in 2018. $494,038,000 of loans were in real estate loans. $35,012,000 of loans were in development loans. $13,022,000 of loans were in multifamily mortgage loans. $122,431,000 of loans were in 1-4 family mortgage loans. $31,858,000 of loans were in farm loans. $281,000 of loans were in credit card loans. $2,939,000 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 532 $101,474 $190,741
    Nonfarm, nonresidential loans - <$100k 174 $7,328 $42,115
    Nonfarm, nonresidential loans - $100-250k 176 $23,691 $134,608
    Nonfarm, nonresidential loans - $250k-1MM 182 $70,455 $387,115
    Commercial & Industrial, US addressed loans - <$1MM 878 $58,039 $66,104
    Commercial & Industrial, US addressed loans - <$100k 653 $13,442 $20,585
    Commercial & Industrial, US addressed loans - $100-250k 116 $10,796 $93,069
    Commercial & Industrial, US addressed loans - $250k-1MM 109 $33,801 $310,101
    Farmland loans - <$1MM 140 $20,390 $145,643
    Farmland loans - <$100k 52 $1,943 $37,365
    Farmland loans - $100-250k 53 $7,925 $149,528
    Farmland loans - $250k-1MM 35 $10,522 $300,629
    Agriculture operations loans - <$1MM 206 $16,831 $81,704
    Agriculture operations loans - <$100k 133 $3,725 $28,008
    Agriculture operations loans - $100-250k 45 $5,514 $122,533
    Agriculture operations loans - $250k-1MM 28 $7,592 $271,143