Superior Savings Bank Mortgage Rates, Fees & Info

Superior, WI

LEI: 549300TSV5GUFPY3IT90

Tax ID: 39-0634605

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Mortgage Data

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

    Superior Savings Bank is a smaller bank specializing in Cash Out Refi and Home Purchase loans. Superior Savings Bank has a high proportion of conventional loans. Their top two markets are Duluth and Minneapolis .

    Superior Savings 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

    124

    Origination Dollar Volume (All Markets)

    $15,910,000

    Employee count

    16

    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
    DULUTH, MN-WI (FHA|USDA|VA) 114 $14,440,000 $126,667 $0 0.00%
    Outside of Metro Areas 9 $1,225,000 $136,111 $0 0.00%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $245,000 $245,000 $0 0.00%
    Superior Savings Bank's top markets include Duluth and Minneapolis among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 124 $15,910,000 $128,306 $0 0.00%

    For 2019, Superior Savings Bank's most frequently originated type of loan was Conventional, with 124 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 47 $7,405,000 $157,553 $0 0.00%
    Home Purchase 37 $4,775,000 $129,054 $0 0.00%
    Refi 21 $2,965,000 $141,190 $0 0.00%
    Home Improvement 12 $360,000 $30,000 $0 0.00%
    Other 7 $405,000 $57,857 $0 0.00%

    For 2019, Superior Savings Bank's most frequently cited loan purpose was Cash Out Refi, with 47 originations. The 2nd most popular reason was Home Purchase, with 37 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 124 $15,910,000 $128,306 $0 0.00%

    For 2019, Superior Savings Bank's most frequently cited loan duration was Other, with 124 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 55 $7,935,000 $144,273 $0 0.00%
    $100,000 or less 50 $2,640,000 $52,800 $0 0.00%
    $200k-400k 17 $4,205,000 $247,353 $0 0.00%
    $400k-600k 1 $525,000 $525,000 $0 0.00%
    $600k-1MM 1 $605,000 $605,000 $0 0.00%

    2019 saw Superior Savings Bank place emphasis on $100k-200k loans with 55 originations, totaling $7,935,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 35 $3,395,000 $97,000 $0 0.00%
    $50k or less 26 $2,630,000 $101,154 $0 0.00%
    $100k-150k 23 $3,635,000 $158,043 $0 0.00%
    $75k-100k 20 $2,170,000 $108,500 $0 0.00%
    $150k-250k 15 $2,645,000 $176,333 $0 0.00%
    $250k+ 2 $620,000 $310,000 $0 0.00%

    Superior Savings Bank lent most frequently to those with incomes in the $50k-75k range, with 35 originations. The second most popular income band? $50k or less, with 26 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 124 $15,910,000 $128,306 $0 0.00%

    Superior Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 124 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 121 $15,015,000 $124,091 $0 0.00%
    Not applicable 2 $650,000 $325,000 $0 0.00%
    Asian 1 $245,000 $245,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    98.54%

    Superior Savings 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
    91.13%

    Superior Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 124 $15,910,000 $128,306

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $945,000 $315,000
    Single Family (1-4 Units):Manufactured 6 $490,000 $81,667
    Single Family (1-4 Units):Site-Built 115 $14,475,000 $125,870

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Superior Home Loans, Inc. Conventional home mortgage Closing on a mortgage 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Superior Savings Bank 1130 Tower Avenue Superior, WI 54880 Full Service B&M $51,929

    For 2019, Superior Savings Bank had 1 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $2,522
    Net interest income $2,474
    Total noninterest income $486
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $41
    Trading account gains and fees $0
    Additional Noninterest Income $445
    Pre-tax net operating income $836
    Securities gains (or losses, -) $0
    Income before extraordinary items $605
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $605
    Minority interest net income $0
    Net income $605
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $605

    Superior Savings Bank's gross interest income from loans was $2,522,000.
    Superior Savings Bank's net interest income from loans was $2,474,000.
    Superior Savings Bank's fee based income from loans was $41,000.
    Superior Savings Bank's net income from loans was $605,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $48
    Provision for credit losses $60
    Total noninterest expense $2,064
    Salaries and employee benefits $1,025
    Premises and equipment expense $289
    Additional noninterest expense $750
    Applicable income taxes $231
    Net charge-offs $0
    Cash dividends $0

    Superior Savings Bank's interest expense for loans was $48,000.
    Superior Savings Bank's payroll and benefits expense were $1,025,000.
    Superior Savings Bank's property, plant and equipment expenses $289,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 1.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    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 $55,297
    Deposits held in domestic offices $55,297
    Deposits by Individuals, partnerships, and corporations $51,942
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $3,355
    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 $20,008
    Demand deposits $4,040
    Nontransaction accounts $35,289
    Money market deposit accounts (MMDAs) $6,239
    Other savings deposits (excluding MMDAs) $19,193
    Total time deposits $9,857
    Total time and savings deposits $51,257
    Noninterest-bearing deposits $5,814
    Interest-bearing deposits $49,483
    Retail deposits $53,952
    IRAs and Keogh plan accounts $4,616
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $68,505
    Cash & Balances due from depository institutions $1,091
    Interest-bearing balances $513
    Total securities $2,498
    Federal funds sold & reverse repurchase $18,634
    Net loans and leases $43,858
    Loan and leases loss allowance $1,314
    Trading account assets $0
    Bank premises and fixed assets $1,418
    Other real estate owned $0
    Goodwill and other intangibles $380
    All other assets $626

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $68,505
    Total Liabilities $55,571
    Total deposits $55,297
    Interest-bearing deposits $49,483
    Deposits held in domestic offices $55,297
    % insured (estimated) $85
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $274

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $43,858
    Loan and leases loss allowance $1,314
    Total loans and leases (domestic) $45,172
    All real estate loans $39,769
    Real estate loans in domestic offices $39,769
    Construction and development loans $2,002
    Residential 1-4 family construction $1,054
    Other construction, all land development and other land $948
    Loans secured by nonfarm nonresidential properties $4,776
    Nonfarm nonresidential secured by owner-occupied properties $3,141
    Commercial real estate & other non-farm, non-residential $1,635
    Multifamily residential real estate $899
    1-4 family residential loans $32,092
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $4,867
    To non-U.S. addressees $0
    Loans to individuals $536
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $163
    Other loans to individuals $373
    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 $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $1,155
    Non 1-4 family restructured loans & leases $692
    Total loans and leases (foreign) $0

    Superior Savings Bank had $43,858,000 of loans outstanding in 2019. $39,769,000 of loans were in real estate loans. $2,002,000 of loans were in development loans. $899,000 of loans were in multifamily mortgage loans. $32,092,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $163,000 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 12 $2,411 $200,917
    Nonfarm, nonresidential loans - <$100k 1 $52 $52,000
    Nonfarm, nonresidential loans - $100-250k 5 $611 $122,200
    Nonfarm, nonresidential loans - $250k-1MM 6 $1,748 $291,333
    Commercial & Industrial, US addressed loans - <$1MM 37 $4,633 $125,216
    Commercial & Industrial, US addressed loans - <$100k 18 $696 $38,667
    Commercial & Industrial, US addressed loans - $100-250k 11 $1,231 $111,909
    Commercial & Industrial, US addressed loans - $250k-1MM 8 $2,706 $338,250