The Bank Of New Glarus Mortgage Rates, Fees & Info

New Glarus, WI

LEI: 549300HZMPZC336WP721

Tax ID: 39-0147950

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

    The Bank Of New Glarus is a smaller bank specializing in Home Purchase and Refi loans. The Bank Of New Glarus has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Madison, Janesville, Baraboo, Whitewater, and Milwaukee among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)

    The Bank Of New Glarus 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. The Bank Of New Glarus 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 6.86% 4/21/24
    30 Year Conventional Refi 6.51% 4/21/24
    30 Year Cash-out Refi 6.81% 4/21/24
    30 Year VA Purchase 6.32% 4/21/24
    15 Year Conventional Purchase 5.80% 4/21/24
    15 Year Conventional Refi 5.74% 4/21/24
    15 Year Cash-out Refi 5.74% 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.

    The Bank Of New Glarus Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from The Bank Of New Glarus. 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

    268

    Origination Dollar Volume (All Markets)

    $48,010,000

    Employee count

    60

    Awards

    The Bank of New Glarus 30 Year Conventional Loans silver
    Show all (1) 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
    MADISON, WI (FHA|USDA|VA) 197 $35,715,000 $181,294 $2,127 5.03%
    Outside of Metro Areas 32 $4,550,000 $142,188 $1,783 5.03%
    JANESVILLE-BELOIT, WI (FHA|USDA|VA) 20 $3,350,000 $167,500 $2,056 4.74%
    Baraboo, WI (FHA|USDA|VA) 4 $950,000 $237,500 $2,113 4.91%
    Whitewater, WI (FHA|USDA|VA) 2 $670,000 $335,000 $2,424 4.38%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 2 $440,000 $220,000 $2,773 4.69%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $435,000 $435,000 $3,983 5.88%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $355,000 $355,000 $3,717 4.50%
    Watertown-Fort Atkinson, WI (FHA|USDA|VA) 1 $305,000 $305,000 $2,478 4.88%
    DULUTH, MN-WI (FHA|USDA|VA) 1 $255,000 $255,000 $0 5.59%
    Marquette, MI (FHA|USDA|VA) 1 $225,000 $225,000 $2,061 4.13%
    EAU CLAIRE, WI (FHA|USDA|VA) 1 $165,000 $165,000 $1,893 5.50%
    Beaver Dam, WI (FHA|USDA|VA) 1 $155,000 $155,000 $1,477 4.75%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 1 $155,000 $155,000 $2,215 4.88%
    Freeport, IL (FHA|USDA|VA) 1 $115,000 $115,000 $2,036 5.00%
    ROCKFORD, IL (FHA|USDA|VA) 1 $95,000 $95,000 $1,408 4.13%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $75,000 $75,000 $370 5.99%
    The Bank Of New Glarus's top markets include Madison, Janesville, Baraboo, Whitewater, and Milwaukee among others.

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

    • Similar Lenders

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

    Bank of Milton
    Similarity Rank: 25
    First Community Credit Union
    Similarity Rank: 63
    HERITAGE CREDIT UNION
    Similarity Rank: 78
    United Community Bank
    Similarity Rank: 147
    Landmark Credit Union
    Similarity Rank: 192
    State Bank of Cross Plains
    Similarity Rank: 207
    Mound City Bank
    Similarity Rank: 280
    Farmers and Merchants Union Bank
    Similarity Rank: 288
    EDUCATORS CREDIT UNION
    Similarity Rank: 306
    Blackhawk Community Credit Union
    Similarity Rank: 350

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 261 $47,095,000 $180,441 $2,051 5.01%
    USDA 7 $915,000 $130,714 $3,412 4.64%

    For 2018, The Bank Of New Glarus's most frequently originated type of loan was Conventional, with 261 originations. Their 2nd most popular type was USDA, with 7 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 152 $28,800,000 $189,474 $2,244 4.78%
    Refi 62 $12,690,000 $204,677 $1,304 4.73%
    Cash Out Refi 44 $5,900,000 $134,091 $1,229 5.77%
    Home Improvement 5 $325,000 $65,000 $638 6.19%
    Other 5 $295,000 $59,000 $14,547 6.99%

    For 2018, The Bank Of New Glarus's most frequently cited loan purpose was Home Purchase, with 152 originations. The 2nd most popular reason was Refi, with 62 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 155 $31,175,000 $201,129 $2,491 4.72%
    Other 39 $7,555,000 $193,718 $1,522 5.72%
    15 Year 35 $5,065,000 $144,714 $1,523 4.25%
    20 Year 12 $1,700,000 $141,667 $1,461 4.41%
    10 Year 11 $415,000 $37,727 $444 8.04%
    3 Year 10 $1,690,000 $169,000 $1,910 5.81%
    1 Year 5 $385,000 $77,000 $1,415 6.13%
    5 Year 1 $25,000 $25,000 $355 7.74%

    For 2018, The Bank Of New Glarus's most frequently cited loan duration was 30 Year, with 155 originations. The 2nd most popular length was Other, with 39 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 200 $31,850,000 $159,250
    $1k-2k 25 $6,415,000 $256,600
    $2k-3k 7 $1,655,000 $236,429
    $3k-4k 1 $385,000 $385,000
    $4k-5k 1 $315,000 $315,000

    The Bank Of New Glarus's average total fees were $2,491, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 200 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 166 $32,410,000 $195,241
    5-6% 43 $6,005,000 $139,651
    3-4% 27 $4,255,000 $157,593
    6-7% 13 $1,905,000 $146,538
    7-8% 10 $720,000 $72,000
    Over 8% 7 $225,000 $32,143

    During 2018, The Bank Of New Glarus's average interest rate for loans was 4.72%, while their most frequently originated rate bucket for loans was 4-5%, with 166 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 118 $16,430,000 $139,237 $1,856 4.74%
    $100,000 or less 73 $4,725,000 $64,726 $2,396 5.65%
    $200k-400k 62 $17,060,000 $275,161 $2,226 4.76%
    $400k-600k 11 $4,925,000 $447,727 $2,227 4.81%
    $600k-1MM 3 $2,505,000 $835,000 $1,138 5.38%
    $1MM+ 1 $2,365,000 $2,365,000 $0 0.00%

    2018 saw The Bank Of New Glarus place emphasis on $100k-200k loans with 118 originations, totaling $16,430,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 66 $8,150,000 $123,485 $1,712 4.99%
    $75k-100k 58 $8,250,000 $142,241 $3,017 5.26%
    $100k-150k 51 $10,815,000 $212,059 $2,038 4.83%
    $50k or less 38 $4,150,000 $109,211 $1,778 4.88%
    $150k-250k 31 $9,705,000 $313,065 $1,944 4.74%
    $250k+ 6 $2,600,000 $433,333 $1,762 4.48%

    The Bank Of New Glarus lent most frequently to those with incomes in the $50k-75k range, with 66 originations. The second most popular income band? $75k-100k, with 58 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 52 $9,110,000 $175,192 $3,187 4.82%
    30-36% 31 $4,945,000 $159,516 $1,629 4.98%
    <20% 24 $3,170,000 $132,083 $1,317 5.23%
    45% 8 $1,140,000 $142,500 $1,462 5.53%
    >60% 7 $1,395,000 $199,286 $2,137 5.09%
    37% 7 $1,085,000 $155,000 $2,551 4.59%
    40% 6 $1,440,000 $240,000 $2,011 4.50%
    42% 5 $845,000 $169,000 $1,589 5.72%
    44% 5 $855,000 $171,000 $1,482 4.53%
    39% 3 $305,000 $101,667 $1,788 5.66%
    47% 3 $595,000 $198,333 $2,176 4.91%
    49% 3 $565,000 $188,333 $1,041 7.49%
    38% 2 $480,000 $240,000 $1,736 4.69%
    41% 2 $590,000 $295,000 $3,778 4.63%
    46% 1 $65,000 $65,000 $1,455 4.63%
    48% 1 $565,000 $565,000 $2,887 4.88%
    43% 1 $205,000 $205,000 $1,017 5.96%
    50-60% 1 $35,000 $35,000 $355 8.24%
    36% 1 $115,000 $115,000 $2,211 4.25%

    The Bank Of New Glarus lent most frequently to those with DTI ratios of 20-30%, with 52 originations. The next most common DTI ratio? 30-36%, with 31 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 256 $44,140,000 $172,422 $2,091 4.96%
    Not applicable 12 $3,870,000 $322,500 $0 5.86%

    Approval Rates

    Total approvals of all applications
    94.04%

    The Bank Of New Glarus has an average approval rate.

    Pick Rate

    Approvals leading to origination
    94.03%

    The Bank Of New Glarus has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 268 $48,010,000 $179,142

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $3,095,000 $1,031,667
    Single Family (1-4 Units):Manufactured 1 $105,000 $105,000
    Single Family (1-4 Units):Site-Built 264 $44,810,000 $169,735

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 15 $1,115,000 $74,333 $879 6.01%
    40-60% 27 $3,565,000 $132,037 $1,369 4.82%
    60-80% 60 $10,890,000 $181,500 $1,834 4.72%
    80-100% 64 $12,840,000 $200,625 $3,374 5.00%
    Over 100% 1 $655,000 $655,000 $0 6.39%
    Under 20% 11 $2,795,000 $254,091 $608 7.23%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    TD BANK US HOLDING COMPANY Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 10 9.8%
    TD BANK US HOLDING COMPANY Conventional home mortgage Closing on a mortgage 4 3.9%
    TD BANK US HOLDING COMPANY Conventional home mortgage Incorrect information on your report 1 1.0%
    TD BANK US HOLDING COMPANY Conventional home mortgage Struggling to pay mortgage 6 5.9%
    TD BANK US HOLDING COMPANY Conventional home mortgage Trouble during payment process 30 29.4%
    TD BANK US HOLDING COMPANY FHA mortgage Incorrect information on your report 1 1.0%
    TD BANK US HOLDING COMPANY FHA mortgage Struggling to pay mortgage 4 3.9%
    TD BANK US HOLDING COMPANY FHA mortgage Trouble during payment process 1 1.0%
    TD BANK US HOLDING COMPANY Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 8 7.8%
    TD BANK US HOLDING COMPANY Home equity loan or line of credit (HELOC) Closing on a mortgage 3 2.9%
    TD BANK US HOLDING COMPANY Home equity loan or line of credit (HELOC) Incorrect information on your report 1 1.0%
    TD BANK US HOLDING COMPANY Home equity loan or line of credit (HELOC) Problem with a credit reporting company's investigation into an existing problem 1 1.0%
    TD BANK US HOLDING COMPANY Home equity loan or line of credit (HELOC) Struggling to pay mortgage 3 2.9%
    TD BANK US HOLDING COMPANY Home equity loan or line of credit (HELOC) Trouble during payment process 14 13.7%
    TD BANK US HOLDING COMPANY Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 1.0%
    TD BANK US HOLDING COMPANY Other type of mortgage Closing on a mortgage 3 2.9%
    TD BANK US HOLDING COMPANY Other type of mortgage Struggling to pay mortgage 4 3.9%
    TD BANK US HOLDING COMPANY Other type of mortgage Trouble during payment process 7 6.9%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    The Bank of New Glarus 1101 Hwy 69 New Glarus, WI 53574 Full Service B&M $43,215
    The Bank of New Glarus 12 North Shore Drive Belleville, WI 53508 Full Service B&M $25,076
    The Bank of New Glarus 2006 First Center Avenue Brodhead, WI 53520 Full Service B&M $45,292
    The Bank of New Glarus 201 Main Street Juda, WI 53550 Full Service B&M $30,377
    The Bank of New Glarus 250 North 18th Avenue Monroe, WI 53566 Full Service B&M $40,177
    The Bank of New Glarus 501 First Street New Glarus, WI 53574 Full Service B&M $35,036

    For 2018, The Bank Of New Glarus had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $13,198
    Net interest income $11,386
    Total noninterest income $2,367
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $434
    Trading account gains and fees $0
    Additional Noninterest Income $1,933
    Pre-tax net operating income $5,323
    Securities gains (or losses, -) $0
    Income before extraordinary items $4,061
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,061
    Minority interest net income $0
    Net income $4,061
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,061

    The Bank Of New Glarus's gross interest income from loans was $13,198,000.
    The Bank Of New Glarus's net interest income from loans was $11,386,000.
    The Bank Of New Glarus's fee based income from loans was $434,000.
    The Bank Of New Glarus's net income from loans was $4,061,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,812
    Provision for credit losses $240
    Total noninterest expense $8,190
    Salaries and employee benefits $4,249
    Premises and equipment expense $776
    Additional noninterest expense $3,165
    Applicable income taxes $1,262
    Net charge-offs $148
    Cash dividends $510

    The Bank Of New Glarus's interest expense for loans was $1,812,000.
    The Bank Of New Glarus's payroll and benefits expense were $4,249,000.
    The Bank Of New Glarus's property, plant and equipment expenses $776,000.

    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 $225,287
    Deposits held in domestic offices $225,287
    Deposits by Individuals, partnerships, and corporations $217,816
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $7,471
    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 $97,068
    Demand deposits $66,620
    Nontransaction accounts $128,219
    Money market deposit accounts (MMDAs) $40,477
    Other savings deposits (excluding MMDAs) $23,863
    Total time deposits $63,878
    Total time and savings deposits $158,667
    Noninterest-bearing deposits $67,141
    Interest-bearing deposits $158,145
    Retail deposits $219,941
    IRAs and Keogh plan accounts $11,394
    Brokered deposits $302
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $286,745
    Cash & Balances due from depository institutions $12,166
    Interest-bearing balances $6,804
    Total securities $31,146
    Federal funds sold & reverse repurchase $1,698
    Net loans and leases $226,490
    Loan and leases loss allowance $3,332
    Trading account assets $0
    Bank premises and fixed assets $2,649
    Other real estate owned $216
    Goodwill and other intangibles $2,180
    All other assets $10,200

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $286,745
    Total Liabilities $252,771
    Total deposits $225,287
    Interest-bearing deposits $158,145
    Deposits held in domestic offices $225,287
    % insured (estimated) $90
    Federal funds purchased and repurchase agreements $2,135
    Trading liabilities $0
    Other borrowed funds $23,250
    Subordinated debt $0
    All other liabilities $2,099

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $226,490
    Loan and leases loss allowance $3,332
    Total loans and leases (domestic) $229,822
    All real estate loans $168,363
    Real estate loans in domestic offices $168,363
    Construction and development loans $19,177
    Residential 1-4 family construction $7,953
    Other construction, all land development and other land $11,224
    Loans secured by nonfarm nonresidential properties $68,381
    Nonfarm nonresidential secured by owner-occupied properties $47,457
    Commercial real estate & other non-farm, non-residential $20,924
    Multifamily residential real estate $4,159
    1-4 family residential loans $59,353
    Farmland loans $17,293
    Loans held in foreign offices $0
    Farm loans $9,237
    Commercial and industrial loans $42,692
    To non-U.S. addressees $0
    Loans to individuals $5,323
    Credit card loans $377
    Related Plans $280
    Consumer Auto Loans $3,026
    Other loans to individuals $1,640
    All other loans & leases $4,207
    Loans to foreign governments and official institutions $0
    Other loans $1,530
    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 $4,067
    Non 1-4 family restructured loans & leases $3,920
    Total loans and leases (foreign) $0

    The Bank of New Glarus had $226,490,000 of loans outstanding in 2018. $168,363,000 of loans were in real estate loans. $19,177,000 of loans were in development loans. $4,159,000 of loans were in multifamily mortgage loans. $59,353,000 of loans were in 1-4 family mortgage loans. $9,237,000 of loans were in farm loans. $377,000 of loans were in credit card loans. $3,026,000 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 346 $68,381 $197,633
    Nonfarm, nonresidential loans - <$100k 109 $2,249 $20,633
    Nonfarm, nonresidential loans - $100-250k 108 $9,868 $91,370
    Nonfarm, nonresidential loans - $250k-1MM 129 $56,264 $436,155
    Commercial & Industrial, US addressed loans - <$1MM 838 $42,692 $50,945
    Commercial & Industrial, US addressed loans - <$100k 688 $7,792 $11,326
    Commercial & Industrial, US addressed loans - $100-250k 71 $5,539 $78,014
    Commercial & Industrial, US addressed loans - $250k-1MM 79 $29,361 $371,658
    Farmland loans - <$1MM 187 $17,293 $92,476
    Farmland loans - <$100k 63 $1,514 $24,032
    Farmland loans - $100-250k 53 $3,634 $68,566
    Farmland loans - $250k-1MM 71 $12,145 $171,056
    Agriculture operations loans - <$1MM 161 $9,222 $57,280
    Agriculture operations loans - <$100k 130 $3,695 $28,423
    Agriculture operations loans - $100-250k 15 $1,639 $109,267
    Agriculture operations loans - $250k-1MM 16 $3,888 $243,000