The Equitable Bank S.s.b. Mortgage Rates, Fees & Info

Wauwatosa, WI

LEI: 549300N24HTC7KQ3LC70

Tax ID: 39-0265500

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

    The Equitable Bank S.s.b. is a smaller bank specializing in Home Purchase loans. The Equitable Bank S.s.b. has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Milwaukee, Racine, Chicago, Oshkosh, and Watertown among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

    The Equitable Bank S.s.b. 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. The Equitable Bank S.s.b. 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.64% 4/21/24
    30 Year Conventional Refi 6.43% 4/21/24
    30 Year Cash-out Refi 6.57% 4/21/24
    30 Year FHA Purchase 6.95% 4/21/24
    30 Year FHA Refi 6.84% 4/21/24
    30 Year VA Purchase 5.79% 4/21/24
    15 Year Conventional Purchase 5.72% 4/21/24
    15 Year Conventional Refi 5.75% 4/21/24
    15 Year Cash-out Refi 5.75% 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 Equitable Bank S.s.b. Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from The Equitable Bank S.s.b.. 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

    602

    Origination Dollar Volume (All Markets)

    $148,350,000

    Employee count

    102 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
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 521 $128,005,000 $245,691 $2,568 4.30%
    RACINE, WI (FHA|USDA|VA) 29 $6,095,000 $210,172 $1,933 4.31%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 20 $3,650,000 $182,500 $2,488 4.40%
    OSHKOSH-NEENAH, WI (FHA|USDA|VA) 1 $2,935,000 $2,935,000 $0 4.59%
    Watertown-Fort Atkinson, WI (FHA|USDA|VA) 6 $1,670,000 $278,333 $2,718 4.61%
    Whitewater, WI (FHA|USDA|VA) 6 $1,240,000 $206,667 $2,055 4.27%
    GREEN BAY, WI (FHA|USDA|VA) 4 $1,130,000 $282,500 $2,064 3.78%
    MADISON, WI (FHA|USDA|VA) 5 $1,015,000 $203,000 $2,613 4.30%
    Beaver Dam, WI (FHA|USDA|VA) 2 $850,000 $425,000 $2,254 4.13%
    SHEBOYGAN, WI (FHA|USDA|VA) 4 $850,000 $212,500 $2,145 4.56%
    Outside of Metro Areas 2 $510,000 $255,000 $2,298 4.38%
    JANESVILLE-BELOIT, WI (FHA|USDA|VA) 1 $225,000 $225,000 $1,626 4.38%
    FOND DU LAC, WI (FHA|USDA|VA) 1 $175,000 $175,000 $5,205 4.25%
    The Equitable Bank S.s.b.'s top markets include Milwaukee, Racine, Chicago, Oshkosh, and Watertown among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against The Equitable Bank S.S.B. 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
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    Similarity Rank: 12
    UNITED
    Similarity Rank: 28
    Liberty Bank for Savings
    Similarity Rank: 104
    Kohler Credit Union
    Similarity Rank: 128
    Empower Credit Union
    Similarity Rank: 135
    United Community Bank
    Similarity Rank: 147
    The Greenwood's State Bank
    Similarity Rank: 195
    State Bank of Cross Plains
    Similarity Rank: 207
    HERITAGE CREDIT UNION
    Similarity Rank: 221

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 557 $137,995,000 $247,747 $2,185 4.34%
    FHA 25 $4,545,000 $181,800 $5,531 4.03%
    VA 20 $5,810,000 $290,500 $6,950 3.79%

    For 2018, The Equitable Bank S.s.b.'s most frequently originated type of loan was Conventional, with 557 originations. Their 2nd most popular type was FHA, with 25 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 464 $113,880,000 $245,431 $2,682 4.31%
    Refi 72 $21,130,000 $293,472 $1,667 4.25%
    Cash Out Refi 47 $10,135,000 $215,638 $2,386 4.36%
    Other 16 $2,850,000 $178,125 $1,538 4.52%
    Home Improvement 3 $355,000 $118,333 $1,615 4.00%

    For 2018, The Equitable Bank S.s.b.'s most frequently cited loan purpose was Home Purchase, with 464 originations. The 2nd most popular reason was Refi, with 72 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 467 $101,795,000 $217,976 $2,647 4.34%
    15 Year 66 $12,450,000 $188,636 $1,978 4.00%
    5 Year 24 $18,650,000 $777,083 $0 4.67%
    20 Year 16 $3,320,000 $207,500 $1,975 4.53%
    30+ year 16 $8,220,000 $513,750 $2,161 3.52%
    10 Year 7 $1,975,000 $282,143 $1,203 4.66%
    Other 6 $1,940,000 $323,333 $3,274 4.77%

    For 2018, The Equitable Bank S.s.b.'s most frequently cited loan duration was 30 Year, with 467 originations. The 2nd most popular length was 15 Year, with 66 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 471 $109,055,000 $231,539
    $1k-2k 34 $7,490,000 $220,294
    $2k-3k 4 $1,140,000 $285,000
    $5k+ 2 $770,000 $385,000
    $3k-4k 1 $345,000 $345,000

    The Equitable Bank S.s.b.'s average total fees were $2,647, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 471 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 415 $102,665,000 $247,386
    3-4% 151 $39,195,000 $259,570
    5-6% 29 $4,195,000 $144,655
    <2.5% 4 $1,530,000 $382,500
    2.5-3% 2 $700,000 $350,000
    6-7% 1 $65,000 $65,000

    During 2018, The Equitable Bank S.s.b.'s average interest rate for loans was 4.34%, while their most frequently originated rate bucket for loans was 4-5%, with 415 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 257 $70,835,000 $275,623 $2,665 4.20%
    $100k-200k 214 $32,400,000 $151,402 $2,351 4.40%
    $100,000 or less 76 $5,540,000 $72,895 $1,896 4.55%
    $400k-600k 38 $17,360,000 $456,842 $3,561 3.99%
    $1MM+ 9 $16,365,000 $1,818,333 $3,408 4.70%
    $600k-1MM 8 $5,850,000 $731,250 $2,545 4.05%

    2018 saw The Equitable Bank S.s.b. place emphasis on $200k-400k loans with 257 originations, totaling $70,835,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 139 $34,725,000 $249,820 $2,641 4.27%
    $50k-75k 123 $20,685,000 $168,171 $2,516 4.26%
    $150k-250k 100 $30,580,000 $305,800 $2,670 4.18%
    $75k-100k 96 $20,910,000 $217,813 $2,453 4.36%
    $50k or less 82 $9,120,000 $111,220 $2,354 4.41%
    $250k+ 21 $9,665,000 $460,238 $2,584 4.17%

    The Equitable Bank S.s.b. lent most frequently to those with incomes in the $100k-150k range, with 139 originations. The second most popular income band? $50k-75k, with 123 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 158 $34,660,000 $219,367 $2,522 4.29%
    30-36% 111 $24,685,000 $222,387 $2,371 4.24%
    <20% 61 $15,745,000 $258,115 $2,525 4.30%
    41% 26 $5,110,000 $196,538 $2,822 4.26%
    37% 25 $6,195,000 $247,800 $2,348 4.19%
    42% 23 $5,425,000 $235,870 $2,632 4.39%
    38% 22 $5,390,000 $245,000 $2,265 4.17%
    40% 20 $4,080,000 $204,000 $2,542 4.27%
    39% 19 $3,385,000 $178,158 $2,428 4.41%
    36% 19 $4,465,000 $235,000 $2,549 4.32%
    47% 14 $3,190,000 $227,857 $2,566 4.29%
    48% 13 $3,285,000 $252,692 $3,895 4.22%
    45% 12 $2,540,000 $211,667 $3,439 4.30%
    43% 12 $2,100,000 $175,000 $2,293 4.35%
    44% 11 $1,735,000 $157,727 $2,294 4.33%
    46% 9 $1,855,000 $206,111 $2,274 4.32%
    49% 5 $945,000 $189,000 $2,153 4.80%
    50-60% 2 $300,000 $150,000 $4,293 3.75%
    >60% 2 $920,000 $460,000 $2,279 4.25%

    The Equitable Bank S.s.b. lent most frequently to those with DTI ratios of 20-30%, with 158 originations. The next most common DTI ratio? 30-36%, with 111 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 490 $111,500,000 $227,551 $2,455 4.26%
    Not applicable 35 $21,595,000 $617,000 $0 4.67%
    Not provided 25 $5,215,000 $208,600 $2,785 4.50%
    Black 30 $4,800,000 $160,000 $3,302 4.60%
    Asian 11 $2,325,000 $211,364 $2,114 4.28%
    Asian Indian 4 $1,180,000 $295,000 $2,325 3.97%
    American Indian 5 $1,165,000 $233,000 $6,547 4.28%
    Chinese 1 $435,000 $435,000 $2,602 3.75%
    Other Asian 1 $135,000 $135,000 $1,974 4.38%

    Approval Rates

    Total approvals of all applications
    95.45%

    The Equitable Bank S.s.b. 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
    84.72%

    The Equitable Bank S.s.b. has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 602 $148,350,000 $246,429

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 20 $19,820,000 $991,000
    Single Family (1-4 Units):Site-Built 582 $128,530,000 $220,842

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 15 $1,315,000 $87,667 $1,696 4.23%
    40-60% 60 $13,220,000 $220,333 $1,978 4.25%
    60-80% 213 $63,955,000 $300,258 $2,286 4.39%
    80-100% 307 $69,205,000 $225,423 $2,795 4.26%
    Over 100% 1 $165,000 $165,000 $7,483 3.50%
    Under 20% 6 $490,000 $81,667 $1,322 4.65%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    The Equitable Bank, S.S.B. 2290 North Mayfair Road Wauwatosa, WI 53226 Full Service B&M $64,551
    The Equitable Bank, S.S.B. 5225 South 108th Street Hales Corners, WI 53130 Full Service B&M $49,592
    The Equitable Bank, S.S.B. 701 Trailview Court Waterford, WI 53185 Full Service B&M $32,038
    The Equitable Bank, S.S.B. 705 East Silver Spring Drive Whitefish Bay, WI 53217 Full Service B&M $31,874
    The Equitable Bank, S.S.B. 7400 West Oklahoma Avenue West Allis, WI 53219 Full Service B&M $55,396
    The Equitable Bank, S.S.B. N15 W30921 Golf Road Delafield, WI 53018 Full Service B&M $19,567

    For 2018, The Equitable Bank S.s.b. had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $12,061
    Net interest income $9,949
    Total noninterest income $1,830
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $479
    Trading account gains and fees $0
    Additional Noninterest Income $1,351
    Pre-tax net operating income $-1,240
    Securities gains (or losses, -) $0
    Income before extraordinary items $-815
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $-815
    Minority interest net income $0
    Net income $-815
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $-815

    The Equitable Bank S.s.b.'s gross interest income from loans was $12,061,000.
    The Equitable Bank S.s.b.'s net interest income from loans was $9,949,000.
    The Equitable Bank S.s.b.'s fee based income from loans was $479,000.
    The Equitable Bank S.s.b.'s net income from loans was $-815,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,112
    Provision for credit losses $425
    Total noninterest expense $12,594
    Salaries and employee benefits $7,167
    Premises and equipment expense $2,131
    Additional noninterest expense $3,296
    Applicable income taxes $-425
    Net charge-offs $993
    Cash dividends $0

    The Equitable Bank S.s.b.'s interest expense for loans was $2,112,000.
    The Equitable Bank S.s.b.'s payroll and benefits expense were $7,167,000.
    The Equitable Bank S.s.b.'s property, plant and equipment expenses $2,131,000.

    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 1.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 2.0%
    Credit card loans 0.0%
    Other individual loans 4.0%
    Auto loans 0.0%
    Other consumer loans 4.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $243,409
    Deposits held in domestic offices $243,409
    Deposits by Individuals, partnerships, and corporations $242,774
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $635
    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 $74,368
    Demand deposits $26,341
    Nontransaction accounts $169,041
    Money market deposit accounts (MMDAs) $35,842
    Other savings deposits (excluding MMDAs) $44,892
    Total time deposits $88,307
    Total time and savings deposits $217,068
    Noninterest-bearing deposits $26,341
    Interest-bearing deposits $217,068
    Retail deposits $234,060
    IRAs and Keogh plan accounts $8,702
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $309,808
    Cash & Balances due from depository institutions $4,284
    Interest-bearing balances $1,252
    Total securities $21,000
    Federal funds sold & reverse repurchase $1,706
    Net loans and leases $265,674
    Loan and leases loss allowance $1,295
    Trading account assets $0
    Bank premises and fixed assets $7,990
    Other real estate owned $4,125
    Goodwill and other intangibles $0
    All other assets $5,029

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $309,807
    Total Liabilities $295,791
    Total deposits $243,409
    Interest-bearing deposits $217,068
    Deposits held in domestic offices $243,409
    % insured (estimated) $93
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $52,100
    Subordinated debt $0
    All other liabilities $282

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $265,674
    Loan and leases loss allowance $1,295
    Total loans and leases (domestic) $266,969
    All real estate loans $265,295
    Real estate loans in domestic offices $265,295
    Construction and development loans $8,236
    Residential 1-4 family construction $5,511
    Other construction, all land development and other land $2,725
    Loans secured by nonfarm nonresidential properties $27,986
    Nonfarm nonresidential secured by owner-occupied properties $8,586
    Commercial real estate & other non-farm, non-residential $19,400
    Multifamily residential real estate $74,070
    1-4 family residential loans $155,003
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $1,388
    To non-U.S. addressees $0
    Loans to individuals $286
    Credit card loans $92
    Related Plans $0
    Consumer Auto Loans $0
    Other loans to individuals $194
    All other loans & leases $0
    Loans to foreign governments and official institutions $0
    Other loans $0
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $1,388
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    The Equitable Bank S.S.B. had $265,674,000 of loans outstanding in 2018. $265,295,000 of loans were in real estate loans. $8,236,000 of loans were in development loans. $74,070,000 of loans were in multifamily mortgage loans. $155,003,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $92,000 of loans were in credit card loans. $0 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 32 $8,521 $266,281
    Nonfarm, nonresidential loans - <$100k 6 $215 $35,833
    Nonfarm, nonresidential loans - $100-250k 9 $1,261 $140,111
    Nonfarm, nonresidential loans - $250k-1MM 17 $7,045 $414,412
    Commercial & Industrial, US addressed loans - <$1MM 13 $873 $67,154
    Commercial & Industrial, US addressed loans - <$100k 6 $187 $31,167
    Commercial & Industrial, US addressed loans - $100-250k 5 $394 $78,800
    Commercial & Industrial, US addressed loans - $250k-1MM 2 $292 $146,000