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 and Refi 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 Oshkosh among others. We have data for 22 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

    1,466

    Origination Dollar Volume (All Markets)

    $404,410,000

    Employee count

    95 Show all (16) 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) 1,246 $348,830,000 $279,960 $2,120 2.75%
    RACINE, WI (FHA|USDA|VA) 83 $18,545,000 $223,434 $2,232 2.71%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 40 $9,940,000 $248,500 $2,837 2.76%
    Whitewater, WI (FHA|USDA|VA) 24 $7,400,000 $308,333 $2,066 2.80%
    Outside of Metro Areas 13 $3,465,000 $266,538 $1,934 2.67%
    OSHKOSH-NEENAH, WI (FHA|USDA|VA) 4 $3,400,000 $850,000 $2,270 2.56%
    Beaver Dam, WI (FHA|USDA|VA) 11 $2,385,000 $216,818 $1,896 2.70%
    Watertown-Fort Atkinson, WI (FHA|USDA|VA) 11 $2,125,000 $193,182 $2,086 2.67%
    APPLETON, WI (FHA|USDA|VA) 6 $1,480,000 $246,667 $2,132 2.63%
    SHEBOYGAN, WI (FHA|USDA|VA) 4 $1,460,000 $365,000 $1,917 2.94%
    MADISON, WI (FHA|USDA|VA) 4 $1,180,000 $295,000 $2,400 2.59%
    GREEN BAY, WI (FHA|USDA|VA) 6 $1,000,000 $166,667 $2,245 3.21%
    Shawano, WI (FHA|USDA|VA) 2 $500,000 $250,000 $1,755 3.06%
    FOND DU LAC, WI (FHA|USDA|VA) 3 $485,000 $161,667 $1,822 2.58%
    LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 1 $455,000 $455,000 $2,093 2.75%
    Manitowoc, WI (FHA|USDA|VA) 2 $380,000 $190,000 $2,204 2.75%
    Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) 1 $345,000 $345,000 $2,972 2.63%
    DULUTH, MN-WI (FHA|USDA|VA) 1 $275,000 $275,000 $2,139 2.50%
    JANESVILLE-BELOIT, WI (FHA|USDA|VA) 1 $235,000 $235,000 $1,666 2.25%
    Marinette, WI-MI (FHA|USDA|VA) 1 $205,000 $205,000 $1,338 2.25%
    WAUSAU-WESTON, WI (FHA|USDA|VA) 1 $165,000 $165,000 $1,514 2.13%
    Baraboo, WI (FHA|USDA|VA) 1 $155,000 $155,000 $2,730 3.00%
    The Equitable Bank S.s.b.'s top markets include Milwaukee, Racine, Chicago, Whitewater, and Oshkosh 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.

    First Savings Bank of Hegewisch
    Similarity Rank: 45
    Liberty Bank for Savings
    Similarity Rank: 153
    DMB Community Bank
    Similarity Rank: 400
    Dane County Credit Union
    Similarity Rank: 531
    NORTHWESTERN MUTUAL
    Similarity Rank: 670
    Monona Bank
    Similarity Rank: 793
    AMERITRUST MORTGAGE CORPORATION
    Similarity Rank: 861
    Starion Bank
    Similarity Rank: 900
    Mound City Bank
    Similarity Rank: 966
    Westbury Bank
    Similarity Rank: 1007

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,372 $382,750,000 $278,972 $1,905 2.76%
    FHA 57 $11,095,000 $194,649 $6,124 2.55%
    VA 37 $10,565,000 $285,541 $4,252 2.40%

    For 2021, The Equitable Bank S.s.b.'s most frequently originated type of loan was Conventional, with 1,372 originations. Their 2nd most popular type was FHA, with 57 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 598 $172,330,000 $288,177 $2,956 2.83%
    Refi 583 $157,825,000 $270,712 $1,526 2.62%
    Cash Out Refi 265 $69,155,000 $260,962 $1,806 2.79%
    Home Improvement 11 $3,845,000 $349,545 $1,368 3.47%
    Other 9 $1,255,000 $139,444 $1,396 2.94%

    For 2021, The Equitable Bank S.s.b.'s most frequently cited loan purpose was Home Purchase, with 598 originations. The 2nd most popular reason was Refi, with 583 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 986 $260,240,000 $263,935 $2,371 2.84%
    15 Year 277 $62,845,000 $226,877 $1,626 2.30%
    20 Year 82 $21,300,000 $259,756 $1,625 2.62%
    10 Year 57 $15,975,000 $280,263 $1,272 2.71%
    5 Year 24 $19,350,000 $806,250 $68 3.66%
    30+ year 20 $12,530,000 $626,500 $2,374 3.13%
    Other 19 $12,125,000 $638,158 $1,637 3.48%
    3 Year 1 $45,000 $45,000 $0 3.50%

    For 2021, The Equitable Bank S.s.b.'s most frequently cited loan duration was 30 Year, with 986 originations. The 2nd most popular length was 15 Year, with 277 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,228 $324,210,000 $264,015
    $1k-2k 147 $33,175,000 $225,680
    $2k-3k 5 $1,865,000 $373,000
    $3k-4k 5 $2,115,000 $423,000

    The Equitable Bank S.s.b.'s average total fees were $2,371, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,228 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 778 $210,760,000 $270,900
    <2.5% 450 $105,450,000 $234,333
    3-4% 228 $87,090,000 $381,974
    4-5% 10 $1,110,000 $111,000

    During 2021, The Equitable Bank S.s.b.'s average interest rate for loans was 2.84%, while their most frequently originated rate bucket for loans was 2.5-3%, with 778 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 732 $203,070,000 $277,418 $2,139 2.74%
    $100k-200k 448 $68,850,000 $153,683 $2,070 2.70%
    $400k-600k 170 $80,350,000 $472,647 $2,541 2.71%
    $100,000 or less 78 $6,040,000 $77,436 $1,456 2.94%
    $600k-1MM 21 $16,275,000 $775,000 $2,576 3.29%
    $1MM+ 17 $29,825,000 $1,754,412 $4,413 3.35%

    2021 saw The Equitable Bank S.s.b. place emphasis on $200k-400k loans with 732 originations, totaling $203,070,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 389 $106,255,000 $273,149 $2,046 2.69%
    $50k-75k 278 $52,470,000 $188,741 $2,224 2.73%
    $150k-250k 259 $83,575,000 $322,683 $2,021 2.73%
    $75k-100k 244 $58,020,000 $237,787 $2,116 2.74%
    $50k or less 135 $18,655,000 $138,185 $2,590 2.72%
    $250k+ 85 $40,185,000 $472,765 $2,145 2.67%

    The Equitable Bank S.s.b. lent most frequently to those with incomes in the $100k-150k range, with 389 originations. The second most popular income band? $50k-75k, with 278 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 440 $113,220,000 $257,318 $2,001 2.73%
    30-36% 245 $68,445,000 $279,367 $2,149 2.72%
    <20% 238 $59,750,000 $251,050 $1,811 2.61%
    38% 52 $12,710,000 $244,423 $2,299 2.77%
    41% 44 $11,250,000 $255,682 $2,548 2.78%
    42% 39 $9,885,000 $253,462 $2,138 2.78%
    40% 35 $8,935,000 $255,286 $2,542 2.82%
    37% 35 $9,325,000 $266,429 $2,723 2.68%
    39% 33 $9,165,000 $277,727 $2,291 2.81%
    44% 33 $8,175,000 $247,727 $2,612 2.78%
    43% 30 $6,990,000 $233,000 $2,306 2.83%
    36% 29 $7,145,000 $246,379 $2,223 2.88%
    45% 26 $6,530,000 $251,154 $2,303 2.68%
    46% 25 $6,395,000 $255,800 $2,198 2.74%
    47% 20 $4,930,000 $246,500 $2,456 2.80%
    48% 20 $3,450,000 $172,500 $2,693 2.64%
    49% 20 $6,250,000 $312,500 $2,637 2.66%
    50-60% 8 $1,570,000 $196,250 $6,215 2.59%

    The Equitable Bank S.s.b. lent most frequently to those with DTI ratios of 20-30%, with 440 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 1,131 $289,315,000 $255,805 $2,036 2.71%
    Not applicable 52 $38,370,000 $737,885 $0 3.69%
    Not provided 117 $33,705,000 $288,077 $2,262 2.71%
    Asian 74 $24,520,000 $331,351 $2,156 2.76%
    Black 63 $10,545,000 $167,381 $3,832 2.73%
    Asian Indian 12 $3,440,000 $286,667 $1,872 2.48%
    American Indian 5 $1,115,000 $223,000 $2,139 2.93%
    Native Hawaiian or Islander 2 $910,000 $455,000 $5,916 2.88%
    Other Asian 3 $825,000 $275,000 $2,507 2.54%
    Korean 2 $560,000 $280,000 $1,560 2.38%
    Chinese 2 $400,000 $200,000 $1,665 2.06%
    Japanese 1 $265,000 $265,000 $2,593 2.63%
    Vietnamese 1 $235,000 $235,000 $2,414 3.00%
    Filipino 1 $205,000 $205,000 $1,348 3.13%

    Approval Rates

    Total approvals of all applications
    97.17%

    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
    87.52%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,466 $404,410,000 $275,859

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,466 $404,410,000 $275,859

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 70 $10,590,000 $151,286 $1,508 2.50%
    40-60% 290 $67,000,000 $231,034 $1,613 2.56%
    60-80% 664 $198,740,000 $299,307 $1,818 2.82%
    80-100% 426 $125,770,000 $295,235 $3,038 2.79%
    Over 100% 4 $1,180,000 $295,000 $10,116 2.59%
    Under 20% 12 $1,130,000 $94,167 $606 3.40%

    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 $57,265
    The Equitable Bank, S.S.B. 5225 South 108th Street Hales Corners, WI 53130 Full Service B&M $51,041
    The Equitable Bank, S.S.B. 701 Trailview Court Waterford, WI 53185 Full Service B&M $36,402
    The Equitable Bank, S.S.B. 705 East Silver Spring Drive Whitefish Bay, WI 53217 Full Service B&M $51,806
    The Equitable Bank, S.S.B. 7400 West Oklahoma Avenue West Allis, WI 53219 Full Service B&M $59,509
    The Equitable Bank, S.S.B. N15 W30921 Golf Road Delafield, WI 53018 Full Service B&M $21,397

    For 2021, The Equitable Bank S.s.b. had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $9,884
    Net interest income $8,766
    Total noninterest income $8,963
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $411
    Trading account gains and fees $0
    Additional Noninterest Income $8,552
    Pre-tax net operating income $3,933
    Securities gains (or losses, -) $0
    Income before extraordinary items $3,933
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,933
    Minority interest net income $0
    Net income $3,933
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,933

    The Equitable Bank S.s.b.'s gross interest income from loans was $9,884,000.
    The Equitable Bank S.s.b.'s net interest income from loans was $8,766,000.
    The Equitable Bank S.s.b.'s fee based income from loans was $411,000.
    The Equitable Bank S.s.b.'s net income from loans was $3,933,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,118
    Provision for credit losses $175
    Total noninterest expense $13,621
    Salaries and employee benefits $8,877
    Premises and equipment expense $2,217
    Additional noninterest expense $2,527
    Applicable income taxes $0
    Net charge-offs $91
    Cash dividends $0

    The Equitable Bank S.s.b.'s interest expense for loans was $1,118,000.
    The Equitable Bank S.s.b.'s payroll and benefits expense were $8,877,000.
    The Equitable Bank S.s.b.'s property, plant and equipment expenses $2,217,000.

    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 $273,218
    Deposits held in domestic offices $273,218
    Deposits by Individuals, partnerships, and corporations $272,724
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $493
    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 $112,686
    Demand deposits $44,234
    Nontransaction accounts $160,531
    Money market deposit accounts (MMDAs) $33,420
    Other savings deposits (excluding MMDAs) $57,150
    Total time deposits $69,960
    Total time and savings deposits $228,983
    Noninterest-bearing deposits $44,234
    Interest-bearing deposits $228,984
    Retail deposits $266,304
    IRAs and Keogh plan accounts $7,577
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $312,324
    Cash & Balances due from depository institutions $24,273
    Interest-bearing balances $21,279
    Total securities $38,213
    Federal funds sold & reverse repurchase $1,767
    Net loans and leases $237,149
    Loan and leases loss allowance $1,488
    Trading account assets $0
    Bank premises and fixed assets $7,802
    Other real estate owned $168
    Goodwill and other intangibles $0
    All other assets $2,952

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $312,324
    Total Liabilities $278,944
    Total deposits $273,218
    Interest-bearing deposits $228,984
    Deposits held in domestic offices $273,218
    % insured (estimated) $91
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $5,000
    Subordinated debt $0
    All other liabilities $726

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $237,149
    Loan and leases loss allowance $1,488
    Total loans and leases (domestic) $238,637
    All real estate loans $237,045
    Real estate loans in domestic offices $237,045
    Construction and development loans $14,562
    Residential 1-4 family construction $4,802
    Other construction, all land development and other land $9,760
    Loans secured by nonfarm nonresidential properties $18,730
    Nonfarm nonresidential secured by owner-occupied properties $6,154
    Commercial real estate & other non-farm, non-residential $12,576
    Multifamily residential real estate $100,200
    1-4 family residential loans $103,553
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $1,451
    To non-U.S. addressees $0
    Loans to individuals $140
    Credit card loans $56
    Related Plans $0
    Consumer Auto Loans $0
    Other loans to individuals $84
    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 $1,451
    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 $237,149,000 of loans outstanding in 2021. $237,045,000 of loans were in real estate loans. $14,562,000 of loans were in development loans. $100,200,000 of loans were in multifamily mortgage loans. $103,553,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $56,000 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 $5,595 $174,844
    Nonfarm, nonresidential loans - <$100k 7 $82 $11,714
    Nonfarm, nonresidential loans - $100-250k 11 $831 $75,545
    Nonfarm, nonresidential loans - $250k-1MM 14 $4,682 $334,429
    Commercial & Industrial, US addressed loans - <$1MM 16 $984 $61,500
    Commercial & Industrial, US addressed loans - <$100k 11 $491 $44,636
    Commercial & Industrial, US addressed loans - $100-250k 3 $294 $98,000
    Commercial & Industrial, US addressed loans - $250k-1MM 2 $199 $99,500