Forte Bank Mortgage Rates, Fees & Info

Hartford, WI

LEI: 549300RTMAIJNRX52596

Tax ID: 39-0335807

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Forte Bank is a smaller bank specializing in Refi, Home Purchase, and Cash Out Refi loans. Forte Bank has a high proportion of conventional loans. Their top markets by origination volume include: Milwaukee, Wausau, Beaver Dam, Fond Du Lac, and Madison among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Forte 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.

    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.

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    Originations

    334

    Origination Dollar Volume (All Markets)

    $81,940,000

    Employee count

    51

    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) 281 $66,275,000 $235,854 $0 0.00%
    Outside of Metro Areas 9 $3,895,000 $432,778 $0 0.00%
    WAUSAU-WESTON, WI (FHA|USDA|VA) 2 $3,800,000 $1,900,000 $0 0.00%
    Beaver Dam, WI (FHA|USDA|VA) 22 $3,690,000 $167,727 $0 0.00%
    FOND DU LAC, WI (FHA|USDA|VA) 4 $800,000 $200,000 $0 0.00%
    MADISON, WI (FHA|USDA|VA) 4 $780,000 $195,000 $0 0.00%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $665,000 $665,000 $0 0.00%
    SHEBOYGAN, WI (FHA|USDA|VA) 2 $510,000 $255,000 $0 0.00%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $405,000 $405,000 $0 0.00%
    Watertown-Fort Atkinson, WI (FHA|USDA|VA) 1 $295,000 $295,000 $0 0.00%
    GREEN BAY, WI (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
    RACINE, WI (FHA|USDA|VA) 2 $180,000 $90,000 $0 0.00%
    Baraboo, WI (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
    APPLETON, WI (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
    Whitewater, WI (FHA|USDA|VA) 1 $95,000 $95,000 $0 0.00%
    Iron Mountain, MI-WI (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%
    Forte Bank's top markets include Milwaukee, Wausau, Beaver Dam, Fond Du Lac, and Madison among others.

    Their top states include:
  • Wisconsin (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 334 $81,940,000 $245,329 $0 0.00%

    For 2020, Forte Bank's most frequently originated type of loan was Conventional, with 334 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 161 $39,915,000 $247,919 $0 0.00%
    Home Purchase 86 $23,800,000 $276,744 $0 0.00%
    Cash Out Refi 81 $16,925,000 $208,951 $0 0.00%
    Home Improvement 6 $1,300,000 $216,667 $0 0.00%

    For 2020, Forte Bank's most frequently cited loan purpose was Refi, with 161 originations. The 2nd most popular reason was Home Purchase, with 86 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 334 $81,940,000 $245,329 $0 0.00%

    For 2020, Forte Bank's most frequently cited loan duration was Other, with 334 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 140 $20,990,000 $149,929 $0 0.00%
    $200k-400k 119 $31,625,000 $265,756 $0 0.00%
    $100,000 or less 37 $2,725,000 $73,649 $0 0.00%
    $400k-600k 26 $12,020,000 $462,308 $0 0.00%
    $600k-1MM 8 $6,040,000 $755,000 $0 0.00%
    $1MM+ 4 $8,540,000 $2,135,000 $0 0.00%

    2020 saw Forte Bank place emphasis on $100k-200k loans with 140 originations, totaling $20,990,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 72 $16,050,000 $222,917 $0 0.00%
    $50k-75k 62 $10,520,000 $169,677 $0 0.00%
    $75k-100k 60 $11,600,000 $193,333 $0 0.00%
    $150k-250k 36 $11,040,000 $306,667 $0 0.00%
    $50k or less 23 $2,875,000 $125,000 $0 0.00%
    $250k+ 13 $4,165,000 $320,385 $0 0.00%

    Forte Bank lent most frequently to those with incomes in the $100k-150k range, with 72 originations. The second most popular income band? $50k-75k, with 62 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 334 $81,940,000 $245,329 $0 0.00%

    Forte Bank lent most frequently to those with DTI ratios of Exempt%, with 334 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 260 $55,020,000 $211,615 $0 0.00%
    Not applicable 65 $25,205,000 $387,769 $0 0.00%
    Not provided 8 $1,350,000 $168,750 $0 0.00%
    Asian 1 $365,000 $365,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.83%

    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
    94.31%

    Forte Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 334 $81,940,000 $245,329

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 20 $16,310,000 $815,500
    Single Family (1-4 Units):Manufactured 1 $55,000 $55,000
    Single Family (1-4 Units):Site-Built 313 $65,575,000 $209,505

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Forte Bank 116 West Sumner Street Hartford, WI 53027 Full Service B&M $159,781
    Forte Bank 1297 State Highway 175 Hubertus, WI 53033 Full Service B&M $27,926
    Forte Bank 439 East Washington Street Slinger, WI 53086 Full Service B&M $45,846

    For 2020, Forte Bank had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $9,821
    Net interest income $8,692
    Total noninterest income $2,889
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $69
    Trading account gains and fees $0
    Additional Noninterest Income $2,820
    Pre-tax net operating income $3,640
    Securities gains (or losses, -) $0
    Income before extraordinary items $2,767
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,767
    Minority interest net income $0
    Net income $2,767
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,767

    Forte Bank's gross interest income from loans was $9,821,000.
    Forte Bank's net interest income from loans was $8,692,000.
    Forte Bank's fee based income from loans was $69,000.
    Forte Bank's net income from loans was $2,767,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,129
    Provision for credit losses $585
    Total noninterest expense $7,356
    Salaries and employee benefits $4,521
    Premises and equipment expense $780
    Additional noninterest expense $2,055
    Applicable income taxes $873
    Net charge-offs $-11
    Cash dividends $589

    Forte Bank's interest expense for loans was $1,129,000.
    Forte Bank's payroll and benefits expense were $4,521,000.
    Forte Bank's property, plant and equipment expenses $780,000.

    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 $250,599
    Deposits held in domestic offices $250,599
    Deposits by Individuals, partnerships, and corporations $241,996
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $8,604
    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 $102,903
    Demand deposits $66,512
    Nontransaction accounts $147,697
    Money market deposit accounts (MMDAs) $57,010
    Other savings deposits (excluding MMDAs) $46,976
    Total time deposits $43,712
    Total time and savings deposits $184,088
    Noninterest-bearing deposits $66,512
    Interest-bearing deposits $184,087
    Retail deposits $244,248
    IRAs and Keogh plan accounts $7,311
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $289,586
    Cash & Balances due from depository institutions $46,994
    Interest-bearing balances $42,671
    Total securities $24,032
    Federal funds sold & reverse repurchase $1,135
    Net loans and leases $201,040
    Loan and leases loss allowance $2,245
    Trading account assets $0
    Bank premises and fixed assets $4,260
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $12,125

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $289,586
    Total Liabilities $261,175
    Total deposits $250,599
    Interest-bearing deposits $184,087
    Deposits held in domestic offices $250,599
    % insured (estimated) $85
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $9,000
    Subordinated debt $0
    All other liabilities $1,576

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $201,040
    Loan and leases loss allowance $2,245
    Total loans and leases (domestic) $203,285
    All real estate loans $173,691
    Real estate loans in domestic offices $173,691
    Construction and development loans $22,827
    Residential 1-4 family construction $5,325
    Other construction, all land development and other land $17,502
    Loans secured by nonfarm nonresidential properties $61,217
    Nonfarm nonresidential secured by owner-occupied properties $42,173
    Commercial real estate & other non-farm, non-residential $19,044
    Multifamily residential real estate $40,756
    1-4 family residential loans $47,291
    Farmland loans $1,600
    Loans held in foreign offices $0
    Farm loans $45
    Commercial and industrial loans $28,390
    To non-U.S. addressees $0
    Loans to individuals $920
    Credit card loans $0
    Related Plans $3
    Consumer Auto Loans $404
    Other loans to individuals $513
    All other loans & leases $239
    Loans to foreign governments and official institutions $0
    Other loans $12
    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 $36
    Non 1-4 family restructured loans & leases $36
    Total loans and leases (foreign) $0

    FORTE BANK had $201,040,000 of loans outstanding in 2020. $173,691,000 of loans were in real estate loans. $22,827,000 of loans were in development loans. $40,756,000 of loans were in multifamily mortgage loans. $47,291,000 of loans were in 1-4 family mortgage loans. $45,000 of loans were in farm loans. $0 of loans were in credit card loans. $404,000 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 107 $32,910 $307,570
    Nonfarm, nonresidential loans - <$100k 14 $762 $54,429
    Nonfarm, nonresidential loans - $100-250k 31 $4,223 $136,226
    Nonfarm, nonresidential loans - $250k-1MM 62 $27,925 $450,403
    Commercial & Industrial, US addressed loans - <$1MM 348 $20,520 $58,966
    Commercial & Industrial, US addressed loans - <$100k 243 $5,751 $23,667
    Commercial & Industrial, US addressed loans - $100-250k 74 $8,617 $116,446
    Commercial & Industrial, US addressed loans - $250k-1MM 31 $6,152 $198,452
    Farmland loans - <$1MM 9 $1,222 $135,778
    Farmland loans - <$100k 2 $81 $40,500
    Farmland loans - $100-250k 5 $606 $121,200
    Farmland loans - $250k-1MM 2 $535 $267,500
    Agriculture operations loans - <$1MM 3 $45 $15,000
    Agriculture operations loans - <$100k 3 $45 $15,000