Cleveland State Bank Mortgage Rates, Fees & Info

Cleveland, WI

LEI: 549300O3HNZKCYCYJK98

Tax ID: 39-0214170

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & Overview

Cleveland State Bank is a smaller bank specializing in Cash Out Refi and Refi loans. Cleveland State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Sheboygan, Manitowoc, Green Bay, Appleton, and Milwaukee among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

Cleveland State Bank 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.

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Originations

445

Origination Dollar Volume (All Markets)

$77,425,000

Employee count

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
SHEBOYGAN, WI (FHA\|USDA\|VA)	273	$49,125,000	$179,945	$0	0.00%
Manitowoc, WI (FHA\|USDA\|VA)	112	$18,610,000	$166,161	$0	0.00%
GREEN BAY, WI (FHA\|USDA\|VA)	12	$2,240,000	$186,667	$0	0.00%
APPLETON, WI (FHA\|USDA\|VA)	16	$2,220,000	$138,750	$0	0.00%
MILWAUKEE-WAUKESHA, WI (FHA\|USDA\|VA)	10	$1,920,000	$192,000	$0	0.00%
Outside of Metro Areas	9	$1,425,000	$158,333	$0	0.00%
Shawano, WI (FHA\|USDA\|VA)	4	$630,000	$157,500	$0	0.00%
FOND DU LAC, WI (FHA\|USDA\|VA)	4	$590,000	$147,500	$0	0.00%
OSHKOSH-NEENAH, WI (FHA\|USDA\|VA)	2	$360,000	$180,000	$0	0.00%
WAUSAU-WESTON, WI (FHA\|USDA\|VA)	2	$200,000	$100,000	$0	0.00%
Marinette, WI-MI (FHA\|USDA\|VA)	1	$105,000	$105,000	$0	0.00%

Cleveland State Bank's top markets include Sheboygan, Manitowoc, Green Bay, Appleton, and Milwaukee among others.

Their top states include:

Wisconsin (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	445	$77,425,000	$173,989	$0	0.00%

For 2020, Cleveland State Bank's most frequently originated type of loan was Conventional, with 445 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Cash Out Refi	193	$34,645,000	$179,508	$0	0.00%
Refi	184	$33,230,000	$180,598	$0	0.00%
Home Purchase	50	$8,760,000	$175,200	$0	0.00%
Home Improvement	9	$295,000	$32,778	$0	0.00%
Other	9	$495,000	$55,000	$0	0.00%

For 2020, Cleveland State Bank's most frequently cited loan purpose was Cash Out Refi, with 193 originations. The 2nd most popular reason was Refi, with 184 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	445	$77,425,000	$173,989	$0	0.00%

For 2020, Cleveland State Bank's most frequently cited loan duration was Other, with 445 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	207	$30,095,000	$145,386	$0	0.00%
$200k-400k	133	$33,885,000	$254,774	$0	0.00%
$100,000 or less	89	$5,945,000	$66,798	$0	0.00%
$400k-600k	16	$7,500,000	$468,750	$0	0.00%

2020 saw Cleveland State Bank place emphasis on $100k-200k loans with 207 originations, totaling $30,095,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	123	$24,055,000	$195,569	$0	0.00%
$75k-100k	92	$14,740,000	$160,217	$0	0.00%
$50k-75k	68	$9,620,000	$141,471	$0	0.00%
$150k-250k	60	$13,650,000	$227,500	$0	0.00%
$50k or less	45	$4,965,000	$110,333	$0	0.00%
$250k+	11	$3,225,000	$293,182	$0	0.00%

Cleveland State Bank lent most frequently to those with incomes in the $100k-150k range, with 123 originations. The second most popular income band? $75k-100k, with 92 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	445	$77,425,000	$173,989	$0	0.00%

Cleveland State Bank lent most frequently to those with DTI ratios of Exempt%, with 445 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	407	$71,255,000	$175,074	$0	0.00%
Not applicable	33	$4,895,000	$148,333	$0	0.00%
Asian	2	$560,000	$280,000	$0	0.00%
American Indian	2	$510,000	$255,000	$0	0.00%
Black	1	$205,000	$205,000	$0	0.00%

Approval Rates

Total approvals of all applications
97.26%

Cleveland State 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
96.63%

Cleveland State Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	445	$77,425,000	$173,989

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	5	$1,845,000	$369,000
Single Family (1-4 Units):Manufactured	3	$345,000	$115,000
Single Family (1-4 Units):Site-Built	437	$75,235,000	$172,162

Complaints

Bank Name	Product	Issue	2020 CPFB Complaints	% of Total Issues
Cleveland Mortgage Corporation	Conventional home mortgage	Closing on a mortgage	1	100.0%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Cleveland State Bank	1250 West Washington Avenue Cleveland, WI 53015	Full Service B&M	$74,004
Cleveland State Bank	502 South Wisconsin Drive Howards Grove, WI 53083	Full Service B&M	$41,618

For 2020, Cleveland State Bank had 2 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$5,772
Net interest income	$5,038
Total noninterest income	$3,033
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$88
Trading account gains and fees	$0
Additional Noninterest Income	$2,945
Pre-tax net operating income	$3,271
Securities gains (or losses, -)	$0
Income before extraordinary items	$2,454
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$2,454
Minority interest net income	$0
Net income	$2,454
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$2,454

Cleveland State Bank's gross interest income from loans was $5,772,000.
Cleveland State Bank's net interest income from loans was $5,038,000.
Cleveland State Bank's fee based income from loans was $88,000.
Cleveland State Bank's net income from loans was $2,454,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$734
Provision for credit losses	$275
Total noninterest expense	$4,525
Salaries and employee benefits	$2,669
Premises and equipment expense	$287
Additional noninterest expense	$1,569
Applicable income taxes	$817
Net charge-offs	$-190
Cash dividends	$476

Cleveland State Bank's interest expense for loans was $734,000.
Cleveland State Bank's payroll and benefits expense were $2,669,000.
Cleveland State Bank's property, plant and equipment expenses $287,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	2.0%
Real Estate loans	3.0%
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	1.0%
Personal loans	5.0%
Credit card loans	0.0%
Other individual loans	5.0%
Auto loans	0.0%
Other consumer loans	18.0%
Unsecured commercial real estate loans	0.0%

Deposits

Type	Value (in 000's)
Total deposits	$135,918
Deposits held in domestic offices	$135,918
Deposits by Individuals, partnerships, and corporations	$98,283
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$14,331
Deposits by Commercial banks and other depository institutions in U.S.	$23,304
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$49,423
Demand deposits	$49,256
Nontransaction accounts	$86,495
Money market deposit accounts (MMDAs)	$45,807
Other savings deposits (excluding MMDAs)	$18,343
Total time deposits	$22,344
Total time and savings deposits	$86,662
Noninterest-bearing deposits	$4,742
Interest-bearing deposits	$131,176
Retail deposits	$131,684
IRAs and Keogh plan accounts	$4,617
Brokered deposits	$2,216
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$163,806
Cash & Balances due from depository institutions	$21,549
Interest-bearing balances	$4,453
Total securities	$39,857
Federal funds sold & reverse repurchase	$0
Net loans and leases	$95,117
Loan and leases loss allowance	$1,496
Trading account assets	$0
Bank premises and fixed assets	$1,630
Other real estate owned	$0
Goodwill and other intangibles	$610
All other assets	$5,043

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$163,806
Total Liabilities	$146,736
Total deposits	$135,918
Interest-bearing deposits	$131,176
Deposits held in domestic offices	$135,918
% insured (estimated)	$76
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$9,268
Subordinated debt	$0
All other liabilities	$1,550

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$95,117
Loan and leases loss allowance	$1,496
Total loans and leases (domestic)	$96,613
All real estate loans	$67,749
Real estate loans in domestic offices	$67,749
Construction and development loans	$4,069
Residential 1-4 family construction	$3,343
Other construction, all land development and other land	$726
Loans secured by nonfarm nonresidential properties	$18,628
Nonfarm nonresidential secured by owner-occupied properties	$11,609
Commercial real estate & other non-farm, non-residential	$7,019
Multifamily residential real estate	$605
1-4 family residential loans	$32,147
Farmland loans	$12,300
Loans held in foreign offices	$0
Farm loans	$4,210
Commercial and industrial loans	$17,895
To non-U.S. addressees	$0
Loans to individuals	$5,133
Credit card loans	$47
Related Plans	$0
Consumer Auto Loans	$3,668
Other loans to individuals	$1,418
All other loans & leases	$1,625
Loans to foreign governments and official institutions	$0
Other loans	$553
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$329
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

Cleveland State Bank had $95,117,000 of loans outstanding in 2020. $67,749,000 of loans were in real estate loans. $4,069,000 of loans were in development loans. $605,000 of loans were in multifamily mortgage loans. $32,147,000 of loans were in 1-4 family mortgage loans. $4,210,000 of loans were in farm loans. $47,000 of loans were in credit card loans. $3,668,000 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	105	$17,533	$166,981
Nonfarm, nonresidential loans - <$100k	40	$1,824	$45,600
Nonfarm, nonresidential loans - $100-250k	39	$5,599	$143,564
Nonfarm, nonresidential loans - $250k-1MM	26	$10,110	$388,846
Commercial & Industrial, US addressed loans - <$1MM	198	$12,394	$62,596
Commercial & Industrial, US addressed loans - <$100k	160	$4,410	$27,563
Commercial & Industrial, US addressed loans - $100-250k	20	$1,904	$95,200
Commercial & Industrial, US addressed loans - $250k-1MM	18	$6,080	$337,778
Farmland loans - <$1MM	46	$6,377	$138,630
Farmland loans - <$100k	10	$389	$38,900
Farmland loans - $100-250k	28	$3,787	$135,250
Farmland loans - $250k-1MM	8	$2,201	$275,125
Agriculture operations loans - <$1MM	70	$3,121	$44,586
Agriculture operations loans - <$100k	58	$1,511	$26,052
Agriculture operations loans - $100-250k	10	$1,222	$122,200
Agriculture operations loans - $250k-1MM	2	$388	$194,000