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
  • 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 Cash Out Refi, Refi, and 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 Madison among others. We have data for 20 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 a below 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% 4/21/24
    30 Year Conventional Refi 6.44% 4/21/24
    30 Year Cash-out Refi 6.47% 4/21/24
    30 Year USDA Purchase 7.04% 4/21/24
    15 Year Conventional Purchase 6.05% 4/21/24
    15 Year Conventional Refi 6.06% 4/21/24
    15 Year Cash-out Refi 6.06% 4/21/24
    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

    1,238

    Origination Dollar Volume (All Markets)

    $223,990,000

    Employee count

    191 Show all (12) 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) 412 $64,080,000 $155,534 $1,115 3.06%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 219 $51,495,000 $235,137 $1,166 3.05%
    FOND DU LAC, WI (FHA|USDA|VA) 266 $44,710,000 $168,083 $1,131 3.07%
    Outside of Metro Areas 124 $23,970,000 $193,306 $1,275 3.05%
    OSHKOSH-NEENAH, WI (FHA|USDA|VA) 88 $15,510,000 $176,250 $900 2.98%
    MADISON, WI (FHA|USDA|VA) 53 $8,865,000 $167,264 $1,160 3.03%
    APPLETON, WI (FHA|USDA|VA) 29 $6,895,000 $237,759 $1,003 3.10%
    GREEN BAY, WI (FHA|USDA|VA) 12 $1,960,000 $163,333 $1,310 3.22%
    SHEBOYGAN, WI (FHA|USDA|VA) 7 $1,035,000 $147,857 $1,370 2.79%
    WAUSAU-WESTON, WI (FHA|USDA|VA) 5 $975,000 $195,000 $1,294 3.75%
    RACINE, WI (FHA|USDA|VA) 5 $845,000 $169,000 $1,161 2.63%
    Watertown-Fort Atkinson, WI (FHA|USDA|VA) 3 $765,000 $255,000 $1,644 3.92%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 2 $620,000 $310,000 $2,239 2.88%
    Shawano, WI (FHA|USDA|VA) 3 $495,000 $165,000 $1,066 3.04%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $455,000 $455,000 $1,079 2.38%
    Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) 2 $370,000 $185,000 $1,391 3.58%
    Marinette, WI-MI (FHA|USDA|VA) 3 $335,000 $111,667 $1,400 2.75%
    Manitowoc, WI (FHA|USDA|VA) 1 $255,000 $255,000 $1,122 2.75%
    Whitewater, WI (FHA|USDA|VA) 2 $210,000 $105,000 $586 4.75%
    EAU CLAIRE, WI (FHA|USDA|VA) 1 $145,000 $145,000 $1,014 3.13%
    Horicon Bank's top markets include Beaver Dam, Milwaukee, Fond Du Lac, Oshkosh, and Madison among others.

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

    CAPITAL Credit Union
    Similarity Rank: 168
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    Royal Bank
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    FOX COMMUNITIES
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    The Greenwood's State Bank
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    Dane County Credit Union
    Similarity Rank: 979

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,226 $222,750,000 $181,688 $1,119 3.06%
    USDA 12 $1,240,000 $103,333 $2,726 3.27%

    For 2020, Horicon Bank's most frequently originated type of loan was Conventional, with 1,226 originations. Their 2nd most popular type was USDA, with 12 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 488 $90,360,000 $185,164 $1,095 2.98%
    Refi 449 $84,535,000 $188,274 $940 2.88%
    Home Purchase 275 $47,155,000 $171,473 $1,655 3.37%
    Other 15 $1,455,000 $97,000 $623 4.43%
    Home Improvement 11 $485,000 $44,091 $509 4.42%

    For 2020, Horicon Bank's most frequently cited loan purpose was Cash Out Refi, with 488 originations. The 2nd most popular reason was Refi, with 449 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 573 $113,735,000 $198,490 $1,284 3.14%
    15 Year 404 $68,820,000 $170,347 $1,053 2.63%
    20 Year 178 $32,750,000 $183,989 $996 3.11%
    5 Year 43 $5,235,000 $121,744 $219 4.43%
    10 Year 25 $1,155,000 $46,200 $337 4.86%
    Other 9 $1,385,000 $153,889 $1,192 4.21%
    3 Year 3 $565,000 $188,333 $0 4.07%
    1 Year 3 $345,000 $115,000 $1,188 4.33%

    For 2020, Horicon Bank's most frequently cited loan duration was 30 Year, with 573 originations. The 2nd most popular length was 15 Year, with 404 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,168 $213,790,000 $183,039
    $1k-2k 5 $1,455,000 $291,000
    $5k+ 1 $245,000 $245,000

    Horicon Bank's average total fees were $1,284, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,168 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 572 $113,360,000 $198,182
    3-4% 350 $64,680,000 $184,800
    <2.5% 226 $38,330,000 $169,602
    4-5% 70 $6,050,000 $86,429
    5-6% 14 $1,070,000 $76,429
    6-7% 5 $485,000 $97,000
    7-8% 1 $15,000 $15,000

    During 2020, Horicon Bank's average interest rate for loans was 3.14%, while their most frequently originated rate bucket for loans was 2.5-3%, with 572 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 555 $80,895,000 $145,757 $1,148 2.97%
    $200k-400k 368 $98,040,000 $266,413 $1,162 2.95%
    $100,000 or less 260 $18,430,000 $70,885 $1,026 3.42%
    $400k-600k 51 $23,475,000 $460,294 $1,244 2.94%
    $600k-1MM 4 $3,150,000 $787,500 $2,282 3.63%

    2020 saw Horicon Bank place emphasis on $100k-200k loans with 555 originations, totaling $80,895,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 301 $58,065,000 $192,907 $1,082 3.00%
    $75k-100k 242 $38,990,000 $161,116 $1,169 3.05%
    $50k-75k 233 $33,535,000 $143,927 $1,147 3.07%
    $50k or less 169 $17,765,000 $105,118 $1,223 3.11%
    $150k-250k 160 $42,240,000 $264,000 $1,053 2.98%
    $250k+ 63 $21,325,000 $338,492 $1,160 3.06%

    Horicon Bank lent most frequently to those with incomes in the $100k-150k range, with 301 originations. The second most popular income band? $75k-100k, with 242 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 429 $78,345,000 $182,622 $1,165 2.95%
    30-36% 245 $45,125,000 $184,184 $1,186 3.09%
    <20% 232 $43,110,000 $185,819 $1,072 2.88%
    38% 36 $6,730,000 $186,944 $1,206 2.90%
    37% 34 $6,050,000 $177,941 $1,215 3.01%
    36% 33 $4,915,000 $148,939 $1,007 3.40%
    40% 32 $5,860,000 $183,125 $985 3.24%
    42% 23 $3,595,000 $156,304 $984 3.54%
    39% 20 $3,720,000 $186,000 $1,121 3.30%
    41% 19 $2,615,000 $137,632 $1,053 3.39%
    44% 16 $2,930,000 $183,125 $1,034 3.09%
    47% 15 $2,845,000 $189,667 $1,125 3.08%
    49% 12 $2,090,000 $174,167 $1,244 2.88%
    43% 12 $1,930,000 $160,833 $1,063 3.03%
    46% 11 $2,685,000 $244,091 $1,169 2.89%
    45% 11 $2,045,000 $185,909 $1,046 3.25%
    48% 9 $1,765,000 $196,111 $1,341 2.97%
    50-60% 8 $1,750,000 $218,750 $1,188 3.02%
    >60% 2 $160,000 $80,000 $181 4.13%

    Horicon Bank lent most frequently to those with DTI ratios of 20-30%, with 429 originations. The next most common DTI ratio? 30-36%, with 245 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,154 $208,590,000 $180,754 $1,144 3.04%
    Not provided 46 $7,920,000 $172,174 $957 2.91%
    Not applicable 25 $3,935,000 $157,400 $0 4.26%
    American Indian 4 $1,490,000 $372,500 $1,303 3.03%
    Asian 5 $1,285,000 $257,000 $1,045 2.78%
    Native Hawaiian or Islander 1 $365,000 $365,000 $893 2.38%
    Black 2 $280,000 $140,000 $845 2.63%
    Asian Indian 1 $125,000 $125,000 $0 4.15%

    Approval Rates

    Total approvals of all applications
    92.02%

    Horicon Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.18%

    Horicon Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,238 $223,990,000 $180,929

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 6 $1,660,000 $276,667
    Single Family (1-4 Units):Manufactured 3 $165,000 $55,000
    Single Family (1-4 Units):Site-Built 1,229 $222,165,000 $180,769

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 73 $8,425,000 $115,411 $915 2.93%
    40-60% 249 $41,215,000 $165,522 $1,043 2.82%
    60-80% 613 $122,365,000 $199,617 $1,102 3.02%
    80-100% 263 $50,055,000 $190,323 $1,499 3.13%
    Over 100% 2 $320,000 $160,000 $0 4.42%
    Under 20% 38 $1,610,000 $42,368 $246 4.96%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Horicon Bank 1440 Horicon Street Mayville, WI 53050 Full Service Retail $9,808
    Horicon Bank 100 East Midway Road Appleton, WI 54915 Full Service B&M $25,270
    Horicon Bank 105 Industrial Drive Beaver Dam, WI 53916 Full Service B&M $185,450
    Horicon Bank 1188 West Fond Du Lac Street Ripon, WI 54971 Full Service Retail $6,590
    Horicon Bank 1207 West Johnson Street Fond Du Lac, WI 54935 Full Service B&M $27,220
    Horicon Bank 1535 West Paradise Drive West Bend, WI 53095 Full Service B&M $104,306
    Horicon Bank 156 South Main Street Iron Ridge, WI 53035 Full Service B&M $22,272
    Horicon Bank 170 Kienow Drive Randolph, WI 53956 Full Service B&M $33,279
    Horicon Bank 2251 Omro Road Oshkosh, WI 54904 Full Service B&M $47,634
    Horicon Bank 226 Schuyler Street Neosho, WI 53059 Full Service B&M $24,341
    Horicon Bank 326 East Lake Street Horicon, WI 53032 Full Service B&M $135,085
    Horicon Bank 400 Watson Street Ripon, WI 54971 Full Service B&M $92,419
    Horicon Bank 515 Hill Street Green Lake, WI 54941 Full Service B&M $56,567
    Horicon Bank 609 North Spring Street Beaver Dam, WI 53916 Full Service Retail $6,923
    Horicon Bank 807 West Main Street Waupun, WI 53963 Full Service B&M $24,559
    Horicon Bank 810 Park Avenue Beaver Dam, WI 53916 Full Service Retail $8,623
    Horicon Bank 825 North Margaret Street Markesan, WI 53946 Full Service B&M $3
    Horicon Bank 84 N. Bridge Street Markesan, WI 53946 Full Service B&M $48,123
    Horicon Bank 854 East Johnson Street Fond Du Lac, WI 54935 Full Service B&M $71,687

    For 2020, Horicon Bank had 19 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $39,873
    Net interest income $34,978
    Total noninterest income $11,011
    Gross Fiduciary activities income $178
    Service charges on deposit accounts $822
    Trading account gains and fees $0
    Additional Noninterest Income $10,011
    Pre-tax net operating income $14,283
    Securities gains (or losses, -) $267
    Income before extraordinary items $13,578
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $13,578
    Minority interest net income $0
    Net income $13,578
    Sale, conversion, retirement of capital stock, net $275
    Net operating income $13,329

    Horicon Bank's gross interest income from loans was $39,873,000.
    Horicon Bank's net interest income from loans was $34,978,000.
    Horicon Bank's fee based income from loans was $822,000.
    Horicon Bank's net income from loans was $13,578,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,895
    Provision for credit losses $2,755
    Total noninterest expense $28,951
    Salaries and employee benefits $18,229
    Premises and equipment expense $2,835
    Additional noninterest expense $7,887
    Applicable income taxes $972
    Net charge-offs $126
    Cash dividends $3,336

    Horicon Bank's interest expense for loans was $4,895,000.
    Horicon Bank's payroll and benefits expense were $18,229,000.
    Horicon Bank's property, plant and equipment expenses $2,835,000.

    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 0.0%
    Personal loans 2.0%
    Credit card loans 4.9%
    Other individual loans 2.0%
    Auto loans 0.0%
    Other consumer loans 3.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $997,200
    Deposits held in domestic offices $997,200
    Deposits by Individuals, partnerships, and corporations $964,600
    Deposits by U.S. Government $9
    Deposits by States and political subdivisions in the U.S. $32,591
    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 $395,005
    Demand deposits $278,215
    Nontransaction accounts $602,195
    Money market deposit accounts (MMDAs) $335,536
    Other savings deposits (excluding MMDAs) $118,231
    Total time deposits $148,428
    Total time and savings deposits $718,985
    Noninterest-bearing deposits $278,215
    Interest-bearing deposits $718,985
    Retail deposits $960,799
    IRAs and Keogh plan accounts $25,186
    Brokered deposits $12,629
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,119,003
    Cash & Balances due from depository institutions $253,559
    Interest-bearing balances $226,388
    Total securities $26,001
    Federal funds sold & reverse repurchase $72
    Net loans and leases $811,176
    Loan and leases loss allowance $10,434
    Trading account assets $0
    Bank premises and fixed assets $15,420
    Other real estate owned $197
    Goodwill and other intangibles $3,477
    All other assets $9,101

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,119,003
    Total Liabilities $1,017,100
    Total deposits $997,200
    Interest-bearing deposits $718,985
    Deposits held in domestic offices $997,200
    % insured (estimated) $75
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $10,541
    Subordinated debt $0
    All other liabilities $9,359

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $811,176
    Loan and leases loss allowance $10,434
    Total loans and leases (domestic) $821,610
    All real estate loans $625,763
    Real estate loans in domestic offices $625,763
    Construction and development loans $58,272
    Residential 1-4 family construction $15,589
    Other construction, all land development and other land $42,683
    Loans secured by nonfarm nonresidential properties $259,277
    Nonfarm nonresidential secured by owner-occupied properties $161,295
    Commercial real estate & other non-farm, non-residential $97,982
    Multifamily residential real estate $34,616
    1-4 family residential loans $141,836
    Farmland loans $131,762
    Loans held in foreign offices $0
    Farm loans $35,232
    Commercial and industrial loans $149,388
    To non-U.S. addressees $0
    Loans to individuals $6,134
    Credit card loans $494
    Related Plans $7
    Consumer Auto Loans $2,508
    Other loans to individuals $3,125
    All other loans & leases $5,093
    Loans to foreign governments and official institutions $0
    Other loans $3,209
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $8,824
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $15,548
    Non 1-4 family restructured loans & leases $14,512
    Total loans and leases (foreign) $0

    Horicon Bank had $811,176,000 of loans outstanding in 2020. $625,763,000 of loans were in real estate loans. $58,272,000 of loans were in development loans. $34,616,000 of loans were in multifamily mortgage loans. $141,836,000 of loans were in 1-4 family mortgage loans. $35,232,000 of loans were in farm loans. $494,000 of loans were in credit card loans. $2,508,000 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 554 $105,519 $190,468
    Nonfarm, nonresidential loans - <$100k 187 $8,254 $44,139
    Nonfarm, nonresidential loans - $100-250k 175 $23,277 $133,011
    Nonfarm, nonresidential loans - $250k-1MM 192 $73,988 $385,354
    Commercial & Industrial, US addressed loans - <$1MM 1,426 $89,701 $62,904
    Commercial & Industrial, US addressed loans - <$100k 1,073 $23,258 $21,676
    Commercial & Industrial, US addressed loans - $100-250k 193 $19,875 $102,979
    Commercial & Industrial, US addressed loans - $250k-1MM 160 $46,568 $291,050
    Farmland loans - <$1MM 234 $34,556 $147,675
    Farmland loans - <$100k 80 $3,096 $38,700
    Farmland loans - $100-250k 97 $13,420 $138,351
    Farmland loans - $250k-1MM 57 $18,040 $316,491
    Agriculture operations loans - <$1MM 320 $19,617 $61,303
    Agriculture operations loans - <$100k 228 $4,684 $20,544
    Agriculture operations loans - $100-250k 55 $6,392 $116,218
    Agriculture operations loans - $250k-1MM 37 $8,541 $230,838