Hometown Bank Mortgage Rates, Fees & Info

Fond du Lac, WI

LEI: 549300OSYCBC27271359

Tax ID: 39-0634490

5 stars - out of 5 stars, based on 30 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Hometown Bank is a smaller bank specializing in Refi, Cash Out Refi, and Home Purchase loans. Hometown Bank has a high proportion of conventional loans. Their top markets include Fond Du Lac, Madison, Milwaukee, Oshkosh, and Watertown among others. Hometown 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. Hometown Bank is typically a low fee lendor.


Originations

909

Origination Dollar Volume (All Markets)

$174,745,000

Employee count

100 Show all (11) awards

Relative Rate

Hometown Bank's average 30 year fixed rate mortgage of loans were 3.08%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.07%.

Relative Fees

Hometown Bank's average total fees for a 30 year fixed rate mortgage are $1,140.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
FOND DU LAC, WI (FHA|USDA|VA) 340 $65,670,000 $193,147 $935 2.88%
Outside of Metro Areas 184 $31,840,000 $173,043 $1,130 2.95%
MADISON, WI (FHA|USDA|VA) 139 $26,525,000 $190,827 $898 2.78%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 46 $10,190,000 $221,522 $877 2.73%
OSHKOSH-NEENAH, WI (FHA|USDA|VA) 35 $7,685,000 $219,571 $1,064 2.90%
Watertown-Fort Atkinson, WI (FHA|USDA|VA) 33 $6,175,000 $187,121 $870 2.66%
SHEBOYGAN, WI (FHA|USDA|VA) 20 $4,950,000 $247,500 $818 3.02%
APPLETON, WI (FHA|USDA|VA) 26 $4,810,000 $185,000 $1,074 2.76%
GREEN BAY, WI (FHA|USDA|VA) 24 $4,450,000 $185,417 $940 2.94%
Baraboo, WI (FHA|USDA|VA) 11 $3,805,000 $345,909 $905 3.38%
Beaver Dam, WI (FHA|USDA|VA) 23 $3,685,000 $160,217 $1,224 2.97%
Manitowoc, WI (FHA|USDA|VA) 3 $995,000 $331,667 $2,342 3.17%
Shawano, WI (FHA|USDA|VA) 6 $920,000 $153,333 $1,324 3.10%
JANESVILLE-BELOIT, WI (FHA|USDA|VA) 4 $680,000 $170,000 $1,100 2.72%
Whitewater, WI (FHA|USDA|VA) 3 $535,000 $178,333 $1,137 2.83%
LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 2 $460,000 $230,000 $1,200 2.81%
Marinette, WI-MI (FHA|USDA|VA) 3 $405,000 $135,000 $1,126 2.54%
WAUSAU-WESTON, WI (FHA|USDA|VA) 2 $310,000 $155,000 $998 2.75%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 2 $300,000 $150,000 $1,440 2.88%
Stevens Point, WI (FHA|USDA|VA) 2 $200,000 $100,000 $803 2.88%
Platteville, WI (FHA|USDA|VA) 1 $155,000 $155,000 $537 2.13%

Hometown Bank's top markets include Fond Du Lac, Madison, Milwaukee, Oshkosh, and Watertown among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 909 $174,745,000 $192,239 $989 2.87%

For the 2021 period, Hometown Bank's most frequently originated loan type of loans were Conventional, with 909 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 437 $77,495,000 $177,334 $742 2.72%
Cash Out Refi 247 $42,135,000 $170,587 $895 2.86%
Home Purchase 200 $51,200,000 $256,000 $1,672 3.23%
Other 25 $3,915,000 $156,600 $917 2.79%

For the 2021, Hometown Bank's most frequently cited loan purpose of loans were Refi, with 437 originations. The 2nd most popular reason of loans were Cash Out Refi, with 247 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 464 $91,130,000 $196,401 $1,140 3.08%
15 Year 281 $45,805,000 $163,007 $835 2.43%
20 Year 94 $15,000,000 $159,574 $828 2.80%
5 Year 26 $10,420,000 $400,769 $670 4.12%
10 Year 22 $2,880,000 $130,909 $623 2.38%
Other 21 $9,135,000 $435,000 $772 3.52%
1 Year 1 $375,000 $375,000 $0 3.75%

For the 2021, Hometown Bank's most frequently cited loan length of loans were 30 Year, with 464 originations. The 2nd most popular length of loans were 15 Year, with 281 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 873 $156,445,000 $179,204
$1k-2k 6 $1,550,000 $258,333

$1,140 of loans were Hometown Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 873 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 347 $65,815,000 $189,669
<2.5% 285 $43,745,000 $153,491
3-4% 260 $53,300,000 $205,000
4-5% 10 $9,350,000 $935,000
5-6% 5 $2,445,000 $489,000
Over 8% 2 $90,000 $45,000

During 2021, Hometown Bank's average interest rate of loans were 3.08%, while their most frequently originated rate bucket of loans were 2.5-3%, with 347 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 418 $61,340,000 $146,746 $912 2.79%
$200k-400k 254 $66,620,000 $262,283 $1,060 2.97%
$100,000 or less 191 $14,765,000 $77,304 $972 2.84%
$400k-600k 34 $15,760,000 $463,529 $1,408 3.04%
$1MM+ 6 $11,630,000 $1,938,333 $1,400 3.97%
$600k-1MM 6 $4,630,000 $771,667 $2,136 3.51%

2021 saw Hometown Bank place emphasis on $100k-200k loans with 418 originations, totaling $61,340,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 229 $45,605,000 $199,148 $949 2.82%
$50k-75k 211 $31,175,000 $147,749 $954 2.87%
$50k or less 155 $16,975,000 $109,516 $988 2.85%
$75k-100k 141 $25,605,000 $181,596 $998 2.82%
$150k-250k 105 $25,035,000 $238,429 $1,018 2.84%
$250k+ 30 $11,860,000 $395,333 $1,428 2.86%

Hometown Bank lent most frequently to those with incomes in the $100k-150k range, with 229 originations. The second most popular income band? $50k-75k, with 211 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 246 $40,960,000 $166,504 $908 2.81%
30-36% 174 $30,240,000 $173,793 $984 2.79%
<20% 146 $26,780,000 $183,425 $987 2.75%
37% 37 $6,285,000 $169,865 $1,221 3.00%
38% 32 $5,450,000 $170,313 $1,163 3.07%
40% 28 $4,740,000 $169,286 $1,056 2.87%
44% 28 $5,970,000 $213,214 $1,026 2.82%
41% 27 $4,825,000 $178,704 $1,019 2.88%
42% 26 $5,820,000 $223,846 $1,075 2.96%
36% 25 $4,605,000 $184,200 $882 2.79%
39% 25 $5,425,000 $217,000 $1,200 2.86%
43% 24 $5,080,000 $211,667 $999 2.93%
46% 15 $2,535,000 $169,000 $940 2.85%
47% 13 $2,195,000 $168,846 $868 2.76%
49% 13 $2,655,000 $204,231 $1,109 3.09%
48% 11 $2,435,000 $221,364 $691 2.65%
45% 10 $1,730,000 $173,000 $1,120 3.34%
>60% 2 $530,000 $265,000 $1,272 3.19%
50-60% 1 $295,000 $295,000 $1,132 4.00%

Hometown Bank lent most frequently to those with DTI ratios of 20-30%, with 246 originations. The next most common DTI ratio? 30-36%, with 174 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 859 $154,935,000 $180,367 $986 2.83%
Not applicable 26 $16,190,000 $622,692 $0 4.11%
Not provided 12 $2,060,000 $171,667 $1,182 3.01%
Asian 8 $1,060,000 $132,500 $1,023 2.61%
American Indian 3 $465,000 $155,000 $870 2.96%
Black 1 $35,000 $35,000 $0 9.25%

Approval Rates

Total approvals of all applications
96.15%

Hometown 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
94.15%

Hometown Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 909 $174,745,000 $192,239

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
909 $174,745,000 $192,239

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 83 $11,165,000 $134,518 $849 2.54%
40-60% 238 $37,060,000 $155,714 $810 2.70%
60-80% 428 $92,730,000 $216,659 $967 2.93%
80-100% 155 $32,395,000 $209,000 $1,391 3.13%
Over 100% 2 $1,220,000 $610,000 $0 5.00%
Under 20% 3 $175,000 $58,333 $825 2.58%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
HomeTown Lenders, LLC Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Hometown Bank 105 Plaza Road Wautoma, WI 54982 Full Service B&M $52,359
Hometown Bank 512 South Main Street Pardeeville, WI 53954 Full Service B&M $38,620
Hometown Bank 80 Sheboygan Street Fond Du Lac, WI 54935 Full Service B&M $111,877
Hometown Bank 846 North Main Street Neshkoro, WI 54960 Full Service B&M $33,971
Hometown Bank 105 South Main Street Poynette, WI 53955 Full Service B&M $80,317
Hometown Bank 10901 West Lake Point Drive Lodi, WI 53555 Limited, Drive-thru $6,125
Hometown Bank 1200 Main Street Saint Cloud, WI 53079 Full Service B&M $55,497
Hometown Bank 221 West Main Street Cambridge, WI 53523 Full Service B&M $52,491
Hometown Bank 245 North Peters Avenue Fond Du Lac, WI 54935 Full Service B&M $58,890
Hometown Bank 300 East Bannerman Avenue Redgranite, WI 54970 Full Service B&M $17,027
Hometown Bank 4190 Boardwalk Court Appleton, WI 54914 Full Service B&M $32,125

For 2021, Hometown Bank had 11 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $20,697
Net interest income $20,016
Total noninterest income $8,370
Gross Fiduciary activities income $0
Service charges on deposit accounts $647
Trading account gains and fees $0
Additional Noninterest Income $7,723
Pre-tax net operating income $12,501
Securities gains (or losses, -) $0
Income before extraordinary items $9,191
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $9,191
Minority interest net income $0
Net income $9,191
Sale, conversion, retirement of capital stock, net $0
Net operating income $9,191

Hometown Bank's gross interest income from loans was $20,697,000.
Hometown Bank's net interest income from loans was $20,016,000.
Hometown Bank's fee based income from loans was $647,000.
Hometown Bank's net income from loans was $9,191,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $681
Provision for credit losses $1,904
Total noninterest expense $13,981
Salaries and employee benefits $8,263
Premises and equipment expense $1,265
Additional noninterest expense $4,453
Applicable income taxes $3,310
Net charge-offs $132
Cash dividends $4,675

Hometown Bank's interest expense for loans was $681,000.
Hometown Bank's payroll and benefits expense were $8,263,000.
Hometown Bank's property, plant and equipment expenses $1,265,000.

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 1.0%
Credit card loans 0.0%
Other individual loans 1.0%
Auto loans 0.0%
Other consumer loans 2.0%
Unsecured commercial real estate loans 0.0%

Deposits

Type Value (in 000's)
Total deposits $565,258
Deposits held in domestic offices $565,258
Deposits by Individuals, partnerships, and corporations $511,265
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $53,993
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 $286,714
Demand deposits $203,203
Nontransaction accounts $278,544
Money market deposit accounts (MMDAs) $153,965
Other savings deposits (excluding MMDAs) $86,124
Total time deposits $38,455
Total time and savings deposits $362,055
Noninterest-bearing deposits $203,203
Interest-bearing deposits $362,055
Retail deposits $562,388
IRAs and Keogh plan accounts $6,952
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $657,686
Cash & Balances due from depository institutions $165,965
Interest-bearing balances $156,807
Total securities $49,758
Federal funds sold & reverse repurchase $515
Net loans and leases $408,406
Loan and leases loss allowance $7,837
Trading account assets $0
Bank premises and fixed assets $8,282
Other real estate owned $0
Goodwill and other intangibles $9,446
All other assets $15,314

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $657,686
Total Liabilities $579,719
Total deposits $565,258
Interest-bearing deposits $362,055
Deposits held in domestic offices $565,258
% insured (estimated) $71
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $10,909
Subordinated debt $0
All other liabilities $3,552

Issued Loan Types

Type Value (in 000's)
Net loans and leases $408,406
Loan and leases loss allowance $7,837
Total loans and leases (domestic) $416,243
All real estate loans $270,455
Real estate loans in domestic offices $270,455
Construction and development loans $24,673
Residential 1-4 family construction $6,625
Other construction, all land development and other land $18,048
Loans secured by nonfarm nonresidential properties $144,772
Nonfarm nonresidential secured by owner-occupied properties $118,408
Commercial real estate & other non-farm, non-residential $26,364
Multifamily residential real estate $29,834
1-4 family residential loans $65,588
Farmland loans $5,588
Loans held in foreign offices $0
Farm loans $1,683
Commercial and industrial loans $134,216
To non-U.S. addressees $0
Loans to individuals $1,317
Credit card loans $118
Related Plans $1
Consumer Auto Loans $410
Other loans to individuals $788
All other loans & leases $8,572
Loans to foreign governments and official institutions $0
Other loans $3,914
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $284
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

Hometown Bank had $408,406,000 of loans outstanding in 2021. $270,455,000 of loans were in real estate loans. $24,673,000 of loans were in development loans. $29,834,000 of loans were in multifamily mortgage loans. $65,588,000 of loans were in 1-4 family mortgage loans. $1,683,000 of loans were in farm loans. $118,000 of loans were in credit card loans. $410,000 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 214 $52,728 $246,393
Nonfarm, nonresidential loans - <$100k 36 $1,210 $33,611
Nonfarm, nonresidential loans - $100-250k 57 $6,437 $112,930
Nonfarm, nonresidential loans - $250k-1MM 121 $45,081 $372,570
Commercial & Industrial, US addressed loans - <$1MM 232 $24,523 $105,703
Commercial & Industrial, US addressed loans - <$100k 92 $1,157 $12,576
Commercial & Industrial, US addressed loans - $100-250k 62 $4,800 $77,419
Commercial & Industrial, US addressed loans - $250k-1MM 78 $18,566 $238,026
Farmland loans - <$1MM 37 $4,414 $119,297
Farmland loans - <$100k 13 $496 $38,154
Farmland loans - $100-250k 16 $1,758 $109,875
Farmland loans - $250k-1MM 8 $2,160 $270,000
Agriculture operations loans - <$1MM 15 $613 $40,867
Agriculture operations loans - <$100k 11 $129 $11,727
Agriculture operations loans - $100-250k 2 $206 $103,000
Agriculture operations loans - $250k-1MM 2 $278 $139,000