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 Refi and 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, Whitewater, and Madison among others. We have data for 20 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% 12/16/24
    30 Year Conventional Refi 6.43% 12/16/24
    30 Year Cash-out Refi 6.57% 12/16/24
    30 Year FHA Purchase 6.95% 12/16/24
    30 Year FHA Refi 6.84% 12/16/24
    30 Year VA Purchase 5.79% 12/16/24
    15 Year Conventional Purchase 5.72% 12/16/24
    15 Year Conventional Refi 5.75% 12/16/24
    15 Year Cash-out Refi 5.75% 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.

    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

    1,963

    Origination Dollar Volume (All Markets)

    $536,945,000

    Employee count

    106 Show all (20) 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) 1,668 $456,730,000 $273,819 $1,883 2.85%
    RACINE, WI (FHA|USDA|VA) 117 $29,495,000 $252,094 $2,106 2.81%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 43 $10,485,000 $243,837 $2,415 2.81%
    Whitewater, WI (FHA|USDA|VA) 32 $8,870,000 $277,188 $1,590 2.89%
    Outside of Metro Areas 21 $6,045,000 $287,857 $1,984 2.80%
    MADISON, WI (FHA|USDA|VA) 19 $5,865,000 $308,684 $1,895 2.74%
    OSHKOSH-NEENAH, WI (FHA|USDA|VA) 3 $5,045,000 $1,681,667 $0 4.04%
    Watertown-Fort Atkinson, WI (FHA|USDA|VA) 20 $4,400,000 $220,000 $1,711 2.93%
    SHEBOYGAN, WI (FHA|USDA|VA) 12 $2,480,000 $206,667 $3,070 2.99%
    APPLETON, WI (FHA|USDA|VA) 6 $1,560,000 $260,000 $2,032 2.60%
    JANESVILLE-BELOIT, WI (FHA|USDA|VA) 3 $1,455,000 $485,000 $2,074 3.13%
    GREEN BAY, WI (FHA|USDA|VA) 2 $1,420,000 $710,000 $1,301 2.88%
    Beaver Dam, WI (FHA|USDA|VA) 6 $1,410,000 $235,000 $1,759 2.94%
    FOND DU LAC, WI (FHA|USDA|VA) 3 $425,000 $141,667 $2,015 2.75%
    Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) 1 $345,000 $345,000 $1,347 2.63%
    Shawano, WI (FHA|USDA|VA) 2 $300,000 $150,000 $2,048 2.69%
    Baraboo, WI (FHA|USDA|VA) 2 $240,000 $120,000 $1,953 2.69%
    WAUSAU-WESTON, WI (FHA|USDA|VA) 1 $185,000 $185,000 $2,814 3.13%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $125,000 $125,000 $1,763 2.50%
    Manitowoc, WI (FHA|USDA|VA) 1 $65,000 $65,000 $3,343 3.38%
    The Equitable Bank S.s.b.'s top markets include Milwaukee, Racine, Chicago, Whitewater, and Madison 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.

    Liberty Bank for Savings
    Similarity Rank: 312
    Glenview State Bank
    Similarity Rank: 312
    Empower Credit Union
    Similarity Rank: 459
    Royal Bank
    Similarity Rank: 468
    Hometown Bank
    Similarity Rank: 504
    Starion Bank
    Similarity Rank: 546
    Westbury Bank
    Similarity Rank: 612
    CROWN MORTGAGE COMPANY
    Similarity Rank: 627
    AMERITRUST MORTGAGE CORPORATION
    Similarity Rank: 648
    Fox Valley Savings Bank
    Similarity Rank: 952

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,891 $518,955,000 $274,434 $1,745 2.85%
    FHA 37 $8,065,000 $217,973 $6,457 2.86%
    VA 35 $9,925,000 $283,571 $5,819 2.68%

    For 2020, The Equitable Bank S.s.b.'s most frequently originated type of loan was Conventional, with 1,891 originations. Their 2nd most popular type was FHA, with 37 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 1,145 $309,275,000 $270,109 $1,540 2.79%
    Home Purchase 484 $143,580,000 $296,653 $2,950 2.87%
    Cash Out Refi 316 $81,320,000 $257,342 $1,788 3.00%
    Other 13 $2,315,000 $178,077 $1,512 3.38%
    Home Improvement 5 $455,000 $91,000 $935 3.55%

    For 2020, The Equitable Bank S.s.b.'s most frequently cited loan purpose was Refi, with 1,145 originations. The 2nd most popular reason was Home Purchase, with 484 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,318 $356,770,000 $270,690 $2,064 2.93%
    15 Year 429 $97,485,000 $227,238 $1,599 2.53%
    20 Year 123 $31,435,000 $255,569 $1,553 2.83%
    10 Year 34 $6,110,000 $179,706 $1,193 2.94%
    Other 25 $15,405,000 $616,200 $1,491 3.31%
    5 Year 18 $13,540,000 $752,222 $0 3.88%
    30+ year 15 $8,205,000 $547,000 $2,269 3.06%
    3 Year 1 $7,995,000 $7,995,000 $0 3.00%

    For 2020, The Equitable Bank S.s.b.'s most frequently cited loan duration was 30 Year, with 1,318 originations. The 2nd most popular length was 15 Year, with 429 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,770 $464,530,000 $262,446
    $1k-2k 117 $28,785,000 $246,026
    $2k-3k 14 $4,710,000 $336,429
    $3k-4k 2 $540,000 $270,000
    $4k-5k 1 $395,000 $395,000
    $5k+ 1 $385,000 $385,000

    The Equitable Bank S.s.b.'s average total fees were $2,064, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,770 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 932 $261,070,000 $280,118
    <2.5% 547 $138,185,000 $252,623
    3-4% 451 $128,995,000 $286,020
    4-5% 28 $7,910,000 $282,500
    5-6% 5 $785,000 $157,000

    During 2020, The Equitable Bank S.s.b.'s average interest rate for loans was 2.93%, while their most frequently originated rate bucket for loans was 2.5-3%, with 932 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,101 $311,795,000 $283,193 $1,932 2.82%
    $100k-200k 558 $87,520,000 $156,846 $1,811 2.84%
    $400k-600k 210 $96,440,000 $459,238 $2,115 2.83%
    $100,000 or less 73 $5,485,000 $75,137 $1,662 3.27%
    $600k-1MM 11 $8,615,000 $783,182 $2,508 3.56%
    $1MM+ 10 $27,090,000 $2,709,000 $2,892 3.51%

    2020 saw The Equitable Bank S.s.b. place emphasis on $200k-400k loans with 1,101 originations, totaling $311,795,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 571 $154,715,000 $270,954 $1,870 2.80%
    $150k-250k 420 $131,620,000 $313,381 $1,841 2.80%
    $75k-100k 353 $83,055,000 $235,283 $1,943 2.86%
    $50k-75k 307 $57,655,000 $187,801 $2,036 2.84%
    $250k+ 149 $55,055,000 $369,497 $1,805 2.82%
    $50k or less 111 $15,835,000 $142,658 $2,136 2.94%

    The Equitable Bank S.s.b. lent most frequently to those with incomes in the $100k-150k range, with 571 originations. The second most popular income band? $150k-250k, with 420 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 660 $169,860,000 $257,364 $1,847 2.80%
    <20% 411 $103,455,000 $251,715 $1,654 2.74%
    30-36% 342 $92,590,000 $270,731 $1,979 2.87%
    38% 55 $14,135,000 $257,000 $2,080 2.90%
    36% 53 $14,895,000 $281,038 $2,351 2.86%
    37% 49 $13,915,000 $283,980 $1,895 2.94%
    42% 46 $12,150,000 $264,130 $2,350 2.92%
    41% 44 $10,310,000 $234,318 $2,020 2.98%
    39% 43 $10,785,000 $250,814 $1,997 2.80%
    40% 40 $10,280,000 $257,000 $2,499 2.97%
    44% 39 $9,385,000 $240,641 $1,970 2.85%
    45% 38 $10,700,000 $281,579 $2,012 3.01%
    43% 36 $9,600,000 $266,667 $1,857 2.91%
    46% 21 $6,185,000 $294,524 $2,692 2.89%
    47% 15 $4,535,000 $302,333 $1,986 2.77%
    49% 14 $3,700,000 $264,286 $2,343 2.81%
    48% 13 $3,425,000 $263,462 $2,905 2.98%
    50-60% 1 $305,000 $305,000 $2,766 3.00%

    The Equitable Bank S.s.b. lent most frequently to those with DTI ratios of 20-30%, with 660 originations. The next most common DTI ratio? <20%, with 411 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,560 $405,200,000 $259,744 $1,920 2.84%
    Not provided 153 $39,265,000 $256,634 $1,737 2.82%
    Not applicable 31 $33,745,000 $1,088,548 $0 4.05%
    Asian 98 $27,990,000 $285,612 $1,793 2.75%
    Asian Indian 52 $14,660,000 $281,923 $1,617 2.63%
    Black 50 $11,810,000 $236,200 $2,672 2.98%
    American Indian 7 $1,435,000 $205,000 $2,451 2.63%
    Other Asian 5 $1,045,000 $209,000 $2,610 2.93%
    Vietnamese 4 $950,000 $237,500 $1,160 2.91%
    Chinese 2 $460,000 $230,000 $1,348 2.56%
    Filipino 1 $385,000 $385,000 $1,535 2.75%

    Approval Rates

    Total approvals of all applications
    96.12%

    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
    87.93%

    The Equitable Bank S.s.b. has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,963 $536,945,000 $273,533

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 24 $32,680,000 $1,361,667
    Single Family (1-4 Units):Site-Built 1,939 $504,265,000 $260,064

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 87 $15,445,000 $177,529 $1,655 2.63%
    40-60% 408 $95,380,000 $233,775 $1,571 2.71%
    60-80% 970 $285,690,000 $294,526 $1,667 2.90%
    80-100% 474 $135,920,000 $286,751 $2,626 2.88%
    Over 100% 7 $2,125,000 $303,571 $11,474 2.84%
    Under 20% 17 $2,385,000 $140,294 $1,186 3.28%

    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 $62,804
    The Equitable Bank, S.S.B. 5225 South 108th Street Hales Corners, WI 53130 Full Service B&M $48,814
    The Equitable Bank, S.S.B. 701 Trailview Court Waterford, WI 53185 Full Service B&M $30,490
    The Equitable Bank, S.S.B. 705 East Silver Spring Drive Whitefish Bay, WI 53217 Full Service B&M $47,935
    The Equitable Bank, S.S.B. 7400 West Oklahoma Avenue West Allis, WI 53219 Full Service B&M $58,901
    The Equitable Bank, S.S.B. N15 W30921 Golf Road Delafield, WI 53018 Full Service B&M $21,117

    For 2020, The Equitable Bank S.s.b. had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $10,953
    Net interest income $9,270
    Total noninterest income $9,123
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $420
    Trading account gains and fees $0
    Additional Noninterest Income $8,703
    Pre-tax net operating income $4,029
    Securities gains (or losses, -) $0
    Income before extraordinary items $4,029
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,029
    Minority interest net income $0
    Net income $4,029
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,029

    The Equitable Bank S.s.b.'s gross interest income from loans was $10,953,000.
    The Equitable Bank S.s.b.'s net interest income from loans was $9,270,000.
    The Equitable Bank S.s.b.'s fee based income from loans was $420,000.
    The Equitable Bank S.s.b.'s net income from loans was $4,029,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,683
    Provision for credit losses $185
    Total noninterest expense $14,179
    Salaries and employee benefits $9,160
    Premises and equipment expense $2,211
    Additional noninterest expense $2,808
    Applicable income taxes $0
    Net charge-offs $44
    Cash dividends $0

    The Equitable Bank S.s.b.'s interest expense for loans was $1,683,000.
    The Equitable Bank S.s.b.'s payroll and benefits expense were $9,160,000.
    The Equitable Bank S.s.b.'s property, plant and equipment expenses $2,211,000.

    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 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 $266,448
    Deposits held in domestic offices $266,448
    Deposits by Individuals, partnerships, and corporations $266,017
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $431
    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 $108,709
    Demand deposits $44,412
    Nontransaction accounts $157,739
    Money market deposit accounts (MMDAs) $33,380
    Other savings deposits (excluding MMDAs) $47,422
    Total time deposits $76,935
    Total time and savings deposits $222,036
    Noninterest-bearing deposits $44,411
    Interest-bearing deposits $222,037
    Retail deposits $258,684
    IRAs and Keogh plan accounts $7,641
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $301,223
    Cash & Balances due from depository institutions $5,937
    Interest-bearing balances $1,413
    Total securities $21,932
    Federal funds sold & reverse repurchase $13,944
    Net loans and leases $247,666
    Loan and leases loss allowance $1,403
    Trading account assets $0
    Bank premises and fixed assets $8,000
    Other real estate owned $386
    Goodwill and other intangibles $0
    All other assets $3,358

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $301,223
    Total Liabilities $274,705
    Total deposits $266,448
    Interest-bearing deposits $222,037
    Deposits held in domestic offices $266,448
    % insured (estimated) $90
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $4,000
    Subordinated debt $0
    All other liabilities $4,257

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $247,666
    Loan and leases loss allowance $1,403
    Total loans and leases (domestic) $249,069
    All real estate loans $246,355
    Real estate loans in domestic offices $246,355
    Construction and development loans $5,782
    Residential 1-4 family construction $2,321
    Other construction, all land development and other land $3,461
    Loans secured by nonfarm nonresidential properties $23,589
    Nonfarm nonresidential secured by owner-occupied properties $6,491
    Commercial real estate & other non-farm, non-residential $17,098
    Multifamily residential real estate $88,770
    1-4 family residential loans $128,214
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $2,564
    To non-U.S. addressees $0
    Loans to individuals $150
    Credit card loans $60
    Related Plans $0
    Consumer Auto Loans $0
    Other loans to individuals $90
    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 $2,564
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $105
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    The Equitable Bank S.S.B. had $247,666,000 of loans outstanding in 2020. $246,355,000 of loans were in real estate loans. $5,782,000 of loans were in development loans. $88,770,000 of loans were in multifamily mortgage loans. $128,214,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $60,000 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 34 $6,606 $194,294
    Nonfarm, nonresidential loans - <$100k 8 $213 $26,625
    Nonfarm, nonresidential loans - $100-250k 11 $876 $79,636
    Nonfarm, nonresidential loans - $250k-1MM 15 $5,517 $367,800
    Commercial & Industrial, US addressed loans - <$1MM 17 $1,134 $66,706
    Commercial & Industrial, US addressed loans - <$100k 11 $431 $39,182
    Commercial & Industrial, US addressed loans - $100-250k 4 $407 $101,750
    Commercial & Industrial, US addressed loans - $250k-1MM 2 $296 $148,000