Hiawatha National Bank Mortgage Rates, Fees & Info

Hager City, WI

LEI: 549300K3JILC7UMYWR39

Tax ID: 39-0153770

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Hiawatha National Bank is a smaller bank specializing in Cash Out Refi, Refi, and Home Purchase loans. Hiawatha National Bank has a high proportion of conventional loans. Their top markets include Minneapolis, Sheboygan, Kalispell, Milwaukee, and Chicago among others. Hiawatha National Bank has an above average approval rate for mortages when compared nationally. They have an average pick rate when compared to the same sample of other lendors.


Originations

395

Origination Dollar Volume (All Markets)

$96,385,000

Employee count

64

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 149 $40,275,000 $270,302 $0 0.00%
Outside of Metro Areas 188 $38,570,000 $205,160 $0 0.00%
SHEBOYGAN, WI (FHA|USDA|VA) 19 $4,165,000 $219,211 $0 0.00%
Kalispell, MT (FHA|USDA|VA) 1 $2,805,000 $2,805,000 $0 0.00%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 4 $1,740,000 $435,000 $0 0.00%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 4 $1,370,000 $342,500 $0 0.00%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $865,000 $865,000 $0 0.00%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 1 $505,000 $505,000 $0 0.00%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $485,000 $485,000 $0 0.00%
FOND DU LAC, WI (FHA|USDA|VA) 2 $430,000 $215,000 $0 0.00%
Edwards, CO (FHA|USDA|VA) 1 $415,000 $415,000 $0 0.00%
SALEM, OR (FHA|USDA|VA) 1 $405,000 $405,000 $0 0.00%
Menomonie, WI (FHA|USDA|VA) 3 $405,000 $135,000 $0 0.00%
DULUTH, MN-WI (FHA|USDA|VA) 3 $405,000 $135,000 $0 0.00%
ROCHESTER, MN (FHA|USDA|VA) 2 $390,000 $195,000 $0 0.00%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $365,000 $365,000 $0 0.00%
KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $315,000 $315,000 $0 0.00%
Austin, MN (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
Red Wing, MN (FHA|USDA|VA) 2 $280,000 $140,000 $0 0.00%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
GREEN BAY, WI (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
Manitowoc, WI (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
APPLETON, WI (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
OSHKOSH-NEENAH, WI (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
EAU CLAIRE, WI (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
Beaver Dam, WI (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
Marinette, WI-MI (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%

Hiawatha National Bank's top markets include Minneapolis, Sheboygan, Kalispell, Milwaukee, and Chicago among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 395 $96,385,000 $244,013 $0 0.00%

For the 2021 period, Hiawatha National Bank's most frequently originated loan type of loans were Conventional, with 395 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Cash Out Refi 143 $36,815,000 $257,448 $0 0.00%
Refi 123 $25,495,000 $207,276 $0 0.00%
Home Purchase 121 $33,375,000 $275,826 $0 0.00%
Home Improvement 4 $430,000 $107,500 $0 0.00%
Other 4 $270,000 $67,500 $0 0.00%

For the 2021, Hiawatha National Bank's most frequently cited loan purpose of loans were Cash Out Refi, with 143 originations. The 2nd most popular reason of loans were Refi, with 123 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 395 $96,385,000 $244,013 $0 0.00%

For the 2021, Hiawatha National Bank's most frequently cited loan length of loans were Other, with 395 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 172 $46,820,000 $272,209 $0 0.00%
$100k-200k 147 $22,175,000 $150,850 $0 0.00%
$100,000 or less 38 $2,490,000 $65,526 $0 0.00%
$400k-600k 34 $16,530,000 $486,176 $0 0.00%
$1MM+ 2 $6,710,000 $3,355,000 $0 0.00%
$600k-1MM 2 $1,660,000 $830,000 $0 0.00%

2021 saw Hiawatha National Bank place emphasis on $200k-400k loans with 172 originations, totaling $46,820,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 99 $22,535,000 $227,626 $0 0.00%
$75k-100k 89 $18,365,000 $206,348 $0 0.00%
$50k-75k 82 $18,200,000 $221,951 $0 0.00%
$150k-250k 60 $17,940,000 $299,000 $0 0.00%
$250k+ 31 $13,645,000 $440,161 $0 0.00%
$50k or less 28 $3,280,000 $117,143 $0 0.00%

Hiawatha National Bank lent most frequently to those with incomes in the $100k-150k range, with 99 originations. The second most popular income band? $75k-100k, with 89 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 395 $96,385,000 $244,013 $0 0.00%

Hiawatha National Bank lent most frequently to those with DTI ratios of Exempt%, with 395 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 329 $80,655,000 $245,152 $0 0.00%
Not provided 52 $11,340,000 $218,077 $0 0.00%
Not applicable 6 $2,420,000 $403,333 $0 0.00%
Black 3 $725,000 $241,667 $0 0.00%
Filipino 2 $420,000 $210,000 $0 0.00%
Native Hawaiian 1 $345,000 $345,000 $0 0.00%
American Indian 1 $255,000 $255,000 $0 0.00%
Asian 1 $225,000 $225,000 $0 0.00%

Approval Rates

Total approvals of all applications
97.54%

Hiawatha National Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
94.05%

Hiawatha National Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
Exempt 395 $96,385,000 $244,013

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
395 $96,385,000 $244,013

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Hiawatha National Bank 220 East Oak Street Glenwood City, WI 54013 Full Service B&M $152,071
Hiawatha National Bank 2212 Crest View Drive Hudson, WI 54016 Full Service B&M $39,905
Hiawatha National Bank 2424 Monetary Blvd., Suite 107 Hudson, WI 54016 Full Service B&M $112,062
Hiawatha National Bank 409 S Cascade Street Osceola, WI 54020 Full Service B&M $46,019
Hiawatha National Bank 777 Walton Dr Plymouth, WI 53073 Full Service B&M $33,100
Hiawatha National Bank N 1555 770th Street Hager City, WI 54014 Full Service B&M $44,093
Hiawatha National Bank W3532 Main Street, Highway 35 Maiden Rock, WI 54750 Full Service B&M $17,697

For 2021, Hiawatha National Bank had 7 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $19,285
Net interest income $16,296
Total noninterest income $3,010
Gross Fiduciary activities income $0
Service charges on deposit accounts $119
Trading account gains and fees $0
Additional Noninterest Income $2,891
Pre-tax net operating income $7,178
Securities gains (or losses, -) $182
Income before extraordinary items $5,454
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $5,454
Minority interest net income $0
Net income $5,454
Sale, conversion, retirement of capital stock, net $14
Net operating income $5,310

Hiawatha National Bank's gross interest income from loans was $19,285,000.
Hiawatha National Bank's net interest income from loans was $16,296,000.
Hiawatha National Bank's fee based income from loans was $119,000.
Hiawatha National Bank's net income from loans was $5,454,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $2,989
Provision for credit losses $800
Total noninterest expense $11,328
Salaries and employee benefits $6,548
Premises and equipment expense $1,282
Additional noninterest expense $3,498
Applicable income taxes $1,906
Net charge-offs $417
Cash dividends $0

Hiawatha National Bank's interest expense for loans was $2,989,000.
Hiawatha National Bank's payroll and benefits expense were $6,548,000.
Hiawatha National Bank's property, plant and equipment expenses $1,282,000.

Loan Performance

Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
All loans 2.0%
Real Estate loans 1.0%
Construction & Land Development loans 0.0%
Nonfarm, nonresidential loans 1.0%
Multifamily residential loans 0.0%
1-4 family residential loans 0.0%
HELOC loans 0.0%
All other family 0.0%
Commercial & industrial loans 2.0%
Personal loans 1.0%
Credit card loans 0.0%
Other individual loans 1.0%
Auto loans 0.0%
Other consumer loans 1.0%
Unsecured commercial real estate loans 0.0%

Deposits

Type Value (in 000's)
Total deposits $465,082
Deposits held in domestic offices $465,082
Deposits by Individuals, partnerships, and corporations $437,925
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $14,068
Deposits by Commercial banks and other depository institutions in U.S. $13,089
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $117,156
Demand deposits $78,638
Nontransaction accounts $347,926
Money market deposit accounts (MMDAs) $198,296
Other savings deposits (excluding MMDAs) $28,426
Total time deposits $121,204
Total time and savings deposits $386,444
Noninterest-bearing deposits $78,638
Interest-bearing deposits $386,444
Retail deposits $390,052
IRAs and Keogh plan accounts $10,328
Brokered deposits $63,335
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $529,911
Cash & Balances due from depository institutions $32,416
Interest-bearing balances $28,219
Total securities $146,596
Federal funds sold & reverse repurchase $106
Net loans and leases $321,346
Loan and leases loss allowance $3,271
Trading account assets $0
Bank premises and fixed assets $10,426
Other real estate owned $0
Goodwill and other intangibles $10,493
All other assets $8,528

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $529,911
Total Liabilities $468,174
Total deposits $465,082
Interest-bearing deposits $386,444
Deposits held in domestic offices $465,082
% insured (estimated) $71
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $843
Subordinated debt $0
All other liabilities $2,249

Issued Loan Types

Type Value (in 000's)
Net loans and leases $321,346
Loan and leases loss allowance $3,271
Total loans and leases (domestic) $324,617
All real estate loans $234,287
Real estate loans in domestic offices $234,287
Construction and development loans $32,035
Residential 1-4 family construction $12,919
Other construction, all land development and other land $19,116
Loans secured by nonfarm nonresidential properties $128,727
Nonfarm nonresidential secured by owner-occupied properties $69,600
Commercial real estate & other non-farm, non-residential $59,127
Multifamily residential real estate $3,541
1-4 family residential loans $47,976
Farmland loans $22,008
Loans held in foreign offices $0
Farm loans $3,701
Commercial and industrial loans $82,970
To non-U.S. addressees $0
Loans to individuals $2,792
Credit card loans $0
Related Plans $269
Consumer Auto Loans $333
Other loans to individuals $2,190
All other loans & leases $867
Loans to foreign governments and official institutions $0
Other loans $68
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $134
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $6,073
Non 1-4 family restructured loans & leases $6,073
Total loans and leases (foreign) $0

Hiawatha National Bank had $321,346,000 of loans outstanding in 2021. $234,287,000 of loans were in real estate loans. $32,035,000 of loans were in development loans. $3,541,000 of loans were in multifamily mortgage loans. $47,976,000 of loans were in 1-4 family mortgage loans. $3,701,000 of loans were in farm loans. $0 of loans were in credit card loans. $333,000 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 285 $75,647 $265,428
Nonfarm, nonresidential loans - <$100k 57 $1,943 $34,088
Nonfarm, nonresidential loans - $100-250k 89 $12,049 $135,382
Nonfarm, nonresidential loans - $250k-1MM 139 $61,655 $443,561
Commercial & Industrial, US addressed loans - <$1MM 570 $49,508 $86,856
Commercial & Industrial, US addressed loans - <$100k 358 $9,592 $26,793
Commercial & Industrial, US addressed loans - $100-250k 102 $10,997 $107,814
Commercial & Industrial, US addressed loans - $250k-1MM 110 $28,919 $262,900
Farmland loans - <$1MM 69 $10,716 $155,304
Farmland loans - <$100k 18 $750 $41,667
Farmland loans - $100-250k 31 $4,353 $140,419
Farmland loans - $250k-1MM 20 $5,613 $280,650
Agriculture operations loans - <$1MM 63 $2,773 $44,016
Agriculture operations loans - <$100k 49 $1,075 $21,939
Agriculture operations loans - $100-250k 7 $752 $107,429
Agriculture operations loans - $250k-1MM 7 $946 $135,143