Forte Bank Mortgage Rates, Fees & Info

Hartford, WI

LEI: 549300RTMAIJNRX52596

Tax ID: 39-0335807

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Forte Bank is a smaller bank specializing in Refi and Home Purchase loans. Forte Bank has a high proportion of conventional loans. Their top markets include Milwaukee, Madison, Appleton, Chicago, and Beaver Dam among others. Forte 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.


Originations

271

Origination Dollar Volume (All Markets)

$88,595,000

Employee count

55

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 197 $47,625,000 $241,751 $0 0.00%
MADISON, WI (FHA|USDA|VA) 3 $11,175,000 $3,725,000 $0 0.00%
APPLETON, WI (FHA|USDA|VA) 2 $6,700,000 $3,350,000 $0 0.00%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 9 $6,665,000 $740,556 $0 0.00%
Beaver Dam, WI (FHA|USDA|VA) 29 $5,325,000 $183,621 $0 0.00%
SHEBOYGAN, WI (FHA|USDA|VA) 7 $2,595,000 $370,714 $0 0.00%
Marinette, WI-MI (FHA|USDA|VA) 1 $1,985,000 $1,985,000 $0 0.00%
RACINE, WI (FHA|USDA|VA) 4 $1,880,000 $470,000 $0 0.00%
Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) 2 $1,650,000 $825,000 $0 0.00%
FOND DU LAC, WI (FHA|USDA|VA) 7 $815,000 $116,429 $0 0.00%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $605,000 $605,000 $0 0.00%
Outside of Metro Areas 3 $495,000 $165,000 $0 0.00%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $375,000 $375,000 $0 0.00%
WAUSAU-WESTON, WI (FHA|USDA|VA) 2 $200,000 $100,000 $0 0.00%
Watertown-Fort Atkinson, WI (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
GREEN BAY, WI (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
OSHKOSH-NEENAH, WI (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%

Forte Bank's top markets include Milwaukee, Madison, Appleton, Chicago, and Beaver Dam among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 271 $88,595,000 $326,919 $0 0.00%

For the 2021 period, Forte Bank's most frequently originated loan type of loans were Conventional, with 271 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 115 $40,555,000 $352,652 $0 0.00%
Home Purchase 99 $35,075,000 $354,293 $0 0.00%
Cash Out Refi 54 $11,340,000 $210,000 $0 0.00%
Home Improvement 3 $1,625,000 $541,667 $0 0.00%

For the 2021, Forte Bank's most frequently cited loan purpose of loans were Refi, with 115 originations. The 2nd most popular reason of loans were Home Purchase, with 99 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 271 $88,595,000 $326,919 $0 0.00%

For the 2021, Forte Bank's most frequently cited loan length of loans were Other, with 271 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 112 $16,650,000 $148,661 $0 0.00%
$200k-400k 88 $23,290,000 $264,659 $0 0.00%
$100,000 or less 29 $2,435,000 $83,966 $0 0.00%
$400k-600k 21 $10,185,000 $485,000 $0 0.00%
$1MM+ 11 $29,095,000 $2,645,000 $0 0.00%
$600k-1MM 10 $6,940,000 $694,000 $0 0.00%

2021 saw Forte Bank place emphasis on $100k-200k loans with 112 originations, totaling $16,650,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 48 $11,480,000 $239,167 $0 0.00%
$50k-75k 43 $7,575,000 $176,163 $0 0.00%
$75k-100k 31 $6,215,000 $200,484 $0 0.00%
$50k or less 25 $3,245,000 $129,800 $0 0.00%
$150k-250k 24 $7,620,000 $317,500 $0 0.00%
$250k+ 9 $2,665,000 $296,111 $0 0.00%

Forte Bank lent most frequently to those with incomes in the $100k-150k range, with 48 originations. The second most popular income band? $50k-75k, with 43 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 271 $88,595,000 $326,919 $0 0.00%

Forte Bank lent most frequently to those with DTI ratios of Exempt%, with 271 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Not applicable 89 $49,175,000 $552,528 $0 0.00%
White 163 $34,065,000 $208,988 $0 0.00%
Not provided 15 $3,935,000 $262,333 $0 0.00%
Asian 3 $1,125,000 $375,000 $0 0.00%
American Indian 1 $295,000 $295,000 $0 0.00%

Approval Rates

Total approvals of all applications
98.24%

Forte 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
91.20%

Forte Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
Exempt 271 $88,595,000 $326,919

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
271 $88,595,000 $326,919

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Forte Bank 116 West Sumner Street Hartford, WI 53027 Full Service B&M $180,564
Forte Bank 1297 State Highway 175 Hubertus, WI 53033 Full Service B&M $33,922
Forte Bank 439 East Washington Street Slinger, WI 53086 Full Service B&M $53,669

For 2021, Forte Bank had 3 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $11,039
Net interest income $10,313
Total noninterest income $2,402
Gross Fiduciary activities income $0
Service charges on deposit accounts $70
Trading account gains and fees $0
Additional Noninterest Income $2,332
Pre-tax net operating income $4,649
Securities gains (or losses, -) $0
Income before extraordinary items $3,479
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $3,479
Minority interest net income $0
Net income $3,479
Sale, conversion, retirement of capital stock, net $0
Net operating income $3,479

Forte Bank's gross interest income from loans was $11,039,000.
Forte Bank's net interest income from loans was $10,313,000.
Forte Bank's fee based income from loans was $70,000.
Forte Bank's net income from loans was $3,479,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $726
Provision for credit losses $182
Total noninterest expense $7,884
Salaries and employee benefits $4,851
Premises and equipment expense $796
Additional noninterest expense $2,237
Applicable income taxes $1,170
Net charge-offs $-17
Cash dividends $654

Forte Bank's interest expense for loans was $726,000.
Forte Bank's payroll and benefits expense were $4,851,000.
Forte Bank's property, plant and equipment expenses $796,000.

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 $284,200
Deposits held in domestic offices $284,200
Deposits by Individuals, partnerships, and corporations $274,064
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $10,136
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 $118,270
Demand deposits $76,634
Nontransaction accounts $165,930
Money market deposit accounts (MMDAs) $75,467
Other savings deposits (excluding MMDAs) $58,170
Total time deposits $32,293
Total time and savings deposits $207,566
Noninterest-bearing deposits $76,634
Interest-bearing deposits $207,566
Retail deposits $280,673
IRAs and Keogh plan accounts $6,631
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $323,325
Cash & Balances due from depository institutions $29,586
Interest-bearing balances $20,101
Total securities $31,154
Federal funds sold & reverse repurchase $954
Net loans and leases $246,058
Loan and leases loss allowance $2,444
Trading account assets $0
Bank premises and fixed assets $4,181
Other real estate owned $0
Goodwill and other intangibles $0
All other assets $11,392

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $323,325
Total Liabilities $292,089
Total deposits $284,200
Interest-bearing deposits $207,566
Deposits held in domestic offices $284,200
% insured (estimated) $82
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $6,500
Subordinated debt $0
All other liabilities $1,389

Issued Loan Types

Type Value (in 000's)
Net loans and leases $246,058
Loan and leases loss allowance $2,444
Total loans and leases (domestic) $248,502
All real estate loans $225,882
Real estate loans in domestic offices $225,882
Construction and development loans $33,985
Residential 1-4 family construction $5,493
Other construction, all land development and other land $28,492
Loans secured by nonfarm nonresidential properties $83,048
Nonfarm nonresidential secured by owner-occupied properties $54,022
Commercial real estate & other non-farm, non-residential $29,026
Multifamily residential real estate $42,560
1-4 family residential loans $62,652
Farmland loans $3,637
Loans held in foreign offices $0
Farm loans $24
Commercial and industrial loans $21,823
To non-U.S. addressees $0
Loans to individuals $623
Credit card loans $0
Related Plans $10
Consumer Auto Loans $445
Other loans to individuals $168
All other loans & leases $150
Loans to foreign governments and official institutions $0
Other loans $20
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $0
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

FORTE BANK had $246,058,000 of loans outstanding in 2021. $225,882,000 of loans were in real estate loans. $33,985,000 of loans were in development loans. $42,560,000 of loans were in multifamily mortgage loans. $62,652,000 of loans were in 1-4 family mortgage loans. $24,000 of loans were in farm loans. $0 of loans were in credit card loans. $445,000 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 143 $43,219 $302,231
Nonfarm, nonresidential loans - <$100k 19 $672 $35,368
Nonfarm, nonresidential loans - $100-250k 41 $6,040 $147,317
Nonfarm, nonresidential loans - $250k-1MM 83 $36,507 $439,843
Commercial & Industrial, US addressed loans - <$1MM 263 $12,524 $47,620
Commercial & Industrial, US addressed loans - <$100k 189 $3,889 $20,577
Commercial & Industrial, US addressed loans - $100-250k 50 $5,437 $108,740
Commercial & Industrial, US addressed loans - $250k-1MM 24 $3,198 $133,250
Farmland loans - <$1MM 10 $1,483 $148,300
Farmland loans - <$100k 2 $56 $28,000
Farmland loans - $100-250k 6 $913 $152,167
Farmland loans - $250k-1MM 2 $514 $257,000
Agriculture operations loans - <$1MM 3 $24 $8,000
Agriculture operations loans - <$100k 3 $24 $8,000