Superior Savings Bank Mortgage Rates, Fees & Info

Superior, WI

LEI: 549300TSV5GUFPY3IT90

Tax ID: 39-0634605

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

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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

    Superior Savings Bank is a smaller bank specializing in Cash Out Refi, Home Purchase, and Refi loans. Superior Savings Bank has a high proportion of conventional loans. Their top (well, only) market is Duluth.

    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

    217

    Origination Dollar Volume (All Markets)

    $33,945,000

    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) 196 $30,170,000 $153,929 $0 0.00%
    Outside of Metro Areas 21 $3,775,000 $179,762 $0 0.00%
    Superior Savings Bank's top markets include and Duluth 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 217 $33,945,000 $156,429 $0 0.00%

    For 2021, Superior Savings Bank's most frequently originated type of loan was Conventional, with 217 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 101 $16,235,000 $160,743 $0 0.00%
    Home Purchase 59 $10,505,000 $178,051 $0 0.00%
    Refi 49 $7,035,000 $143,571 $0 0.00%
    Other 5 $95,000 $19,000 $0 0.00%
    Home Improvement 3 $75,000 $25,000 $0 0.00%

    For 2021, Superior Savings Bank's most frequently cited loan purpose was Cash Out Refi, with 101 originations. The 2nd most popular reason was Home Purchase, with 59 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 217 $33,945,000 $156,429 $0 0.00%

    For 2021, Superior Savings Bank's most frequently cited loan duration was Other, with 217 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 114 $16,790,000 $147,281 $0 0.00%
    $100,000 or less 56 $3,740,000 $66,786 $0 0.00%
    $200k-400k 41 $10,515,000 $256,463 $0 0.00%
    $400k-600k 5 $2,255,000 $451,000 $0 0.00%
    $600k-1MM 1 $645,000 $645,000 $0 0.00%

    2021 saw Superior Savings Bank place emphasis on $100k-200k loans with 114 originations, totaling $16,790,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 57 $8,155,000 $143,070 $0 0.00%
    $50k or less 45 $5,275,000 $117,222 $0 0.00%
    $75k-100k 44 $6,870,000 $156,136 $0 0.00%
    $100k-150k 39 $6,555,000 $168,077 $0 0.00%
    $150k-250k 18 $4,460,000 $247,778 $0 0.00%
    $250k+ 5 $935,000 $187,000 $0 0.00%

    Superior Savings Bank lent most frequently to those with incomes in the $50k-75k range, with 57 originations. The second most popular income band? $50k or less, with 45 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 217 $33,945,000 $156,429 $0 0.00%

    Superior Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 217 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 190 $29,630,000 $155,947 $0 0.00%
    Not provided 13 $2,055,000 $158,077 $0 0.00%
    Not applicable 9 $1,695,000 $188,333 $0 0.00%
    Asian 4 $420,000 $105,000 $0 0.00%
    American Indian 1 $145,000 $145,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.64%

    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
    95.39%

    Superior Savings 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 217 $33,945,000 $156,429

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    217 $33,945,000 $156,429

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Superior Savings Bank 1130 Tower Avenue Superior, WI 54880 Full Service B&M $63,452

    For 2021, Superior Savings Bank had 1 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $2,028
    Net interest income $1,986
    Total noninterest income $1,152
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $32
    Trading account gains and fees $0
    Additional Noninterest Income $1,120
    Pre-tax net operating income $733
    Securities gains (or losses, -) $0
    Income before extraordinary items $531
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $531
    Minority interest net income $0
    Net income $531
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $531

    Superior Savings Bank's gross interest income from loans was $2,028,000.
    Superior Savings Bank's net interest income from loans was $1,986,000.
    Superior Savings Bank's fee based income from loans was $32,000.
    Superior Savings Bank's net income from loans was $531,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $42
    Provision for credit losses $135
    Total noninterest expense $2,270
    Salaries and employee benefits $1,037
    Premises and equipment expense $339
    Additional noninterest expense $894
    Applicable income taxes $202
    Net charge-offs $11
    Cash dividends $0

    Superior Savings Bank's interest expense for loans was $42,000.
    Superior Savings Bank's payroll and benefits expense were $1,037,000.
    Superior Savings Bank's property, plant and equipment expenses $339,000.

    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 $69,554
    Deposits held in domestic offices $69,554
    Deposits by Individuals, partnerships, and corporations $65,228
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $4,326
    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 $25,902
    Demand deposits $6,857
    Nontransaction accounts $43,652
    Money market deposit accounts (MMDAs) $8,376
    Other savings deposits (excluding MMDAs) $26,069
    Total time deposits $9,207
    Total time and savings deposits $62,697
    Noninterest-bearing deposits $9,112
    Interest-bearing deposits $60,442
    Retail deposits $68,241
    IRAs and Keogh plan accounts $4,606
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $83,898
    Cash & Balances due from depository institutions $29,942
    Interest-bearing balances $29,156
    Total securities $265
    Federal funds sold & reverse repurchase $0
    Net loans and leases $50,622
    Loan and leases loss allowance $1,574
    Trading account assets $0
    Bank premises and fixed assets $1,558
    Other real estate owned $0
    Goodwill and other intangibles $664
    All other assets $847

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $83,898
    Total Liabilities $69,798
    Total deposits $69,554
    Interest-bearing deposits $60,442
    Deposits held in domestic offices $69,554
    % insured (estimated) $85
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $244

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $50,622
    Loan and leases loss allowance $1,574
    Total loans and leases (domestic) $52,196
    All real estate loans $51,033
    Real estate loans in domestic offices $51,033
    Construction and development loans $1,845
    Residential 1-4 family construction $1,179
    Other construction, all land development and other land $666
    Loans secured by nonfarm nonresidential properties $7,551
    Nonfarm nonresidential secured by owner-occupied properties $5,733
    Commercial real estate & other non-farm, non-residential $1,818
    Multifamily residential real estate $1,011
    1-4 family residential loans $40,626
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $622
    To non-U.S. addressees $0
    Loans to individuals $541
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $191
    Other loans to individuals $350
    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 $363
    Non 1-4 family restructured loans & leases $156
    Total loans and leases (foreign) $0

    Superior Savings Bank had $50,622,000 of loans outstanding in 2021. $51,033,000 of loans were in real estate loans. $1,845,000 of loans were in development loans. $1,011,000 of loans were in multifamily mortgage loans. $40,626,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $191,000 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 28 $5,901 $210,750
    Nonfarm, nonresidential loans - <$100k 7 $308 $44,000
    Nonfarm, nonresidential loans - $100-250k 10 $1,041 $104,100
    Nonfarm, nonresidential loans - $250k-1MM 11 $4,552 $413,818
    Commercial & Industrial, US addressed loans - <$1MM 16 $622 $38,875
    Commercial & Industrial, US addressed loans - <$100k 12 $194 $16,167
    Commercial & Industrial, US addressed loans - $100-250k 2 $124 $62,000
    Commercial & Industrial, US addressed loans - $250k-1MM 2 $304 $152,000