Sunset Bank & Savings Mortgage Rates, Fees & Info
Waukesha, WILEI: 549300TU1SISIUY3SK49
Tax ID: 39-1964828
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Mortgage Data
Bank Data
Review & Overview
Sunset Bank & Savings is a smaller bank specializing in Home Purchase and Refi loans. Sunset Bank & Savings has a high proportion of conventional loans. Their top two markets are Milwaukee and Racine .Sunset Bank & Savings 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.
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Originations
173Origination Dollar Volume (All Markets)
$41,245,000Employee count
29Top 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) | 142 | $31,390,000 | $221,056 | $0 | 0.00% |
| Outside of Metro Areas | 27 | $9,095,000 | $336,852 | $0 | 0.00% |
| RACINE, WI (FHA|USDA|VA) | 4 | $760,000 | $190,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 173 | $41,245,000 | $238,410 | $0 | 0.00% |
For 2019, Sunset Bank & Savings's most frequently originated type of loan was Conventional, with 173 originations.
Loan Reason
For 2019, Sunset Bank & Savings's most frequently cited loan purpose was Home Purchase, with 98 originations. The 2nd most popular reason was Refi, with 64 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 173 | $41,245,000 | $238,410 | $0 | 0.00% |
For 2019, Sunset Bank & Savings's most frequently cited loan duration was Other, with 173 originations.
Loan Sizing
2019 saw Sunset Bank & Savings place emphasis on $200k-400k loans with 77 originations, totaling $21,605,000 in origination value.
Applicant Income
Sunset Bank & Savings lent most frequently to those with incomes in the $100k-150k range, with 36 originations. The second most popular income band? $50k-75k, with 32 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 173 | $41,245,000 | $238,410 | $0 | 0.00% |
Sunset Bank & Savings lent most frequently to those with DTI ratios of Exempt%, with 173 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.83%
Sunset Bank & Savings has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination94.80%
Sunset Bank & Savings has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 173 | $41,245,000 | $238,410 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 4 | $3,880,000 | $970,000 |
| Single Family (1-4 Units):Site-Built | 169 | $37,365,000 | $221,095 |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| SUN WEST MORTGAGE COMPANY, INC. | Conventional home mortgage | Trouble during payment process | 4 | 50.0% |
| SUN WEST MORTGAGE COMPANY, INC. | FHA mortgage | Trouble during payment process | 2 | 25.0% |
| SUN WEST MORTGAGE COMPANY, INC. | Other type of mortgage | Closing on a mortgage | 1 | 12.5% |
| SUN WEST MORTGAGE COMPANY, INC. | Other type of mortgage | Struggling to pay mortgage | 1 | 12.5% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Sunset Bank & Savings | 2500 North Grandview Boulevard Waukesha, WI 53188 | Full Service B&M | $8,358 |
| Sunset Bank & Savings | 521 West Sunset Drive Waukesha, WI 53189 | Full Service B&M | $103,098 |
For 2019, Sunset Bank & Savings had 2 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $5,210 |
| Net interest income | $3,660 |
| Total noninterest income | $1,046 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $104 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $942 |
| Pre-tax net operating income | $370 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $324 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $324 |
| Minority interest net income | $0 |
| Net income | $324 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $324 |
Sunset Bank & Savings's gross interest income from loans was $5,210,000.
Sunset Bank & Savings's net interest income from loans was $3,660,000.
Sunset Bank & Savings's fee based income from loans was $104,000.
Sunset Bank & Savings's net income from loans was $324,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $1,550 |
| Provision for credit losses | $80 |
| Total noninterest expense | $4,256 |
| Salaries and employee benefits | $2,402 |
| Premises and equipment expense | $442 |
| Additional noninterest expense | $1,412 |
| Applicable income taxes | $46 |
| Net charge-offs | $122 |
| Cash dividends | $394 |
Sunset Bank & Savings's interest expense for loans was $1,550,000.
Sunset Bank & Savings's payroll and benefits expense were $2,402,000.
Sunset Bank & Savings's property, plant and equipment expenses $442,000.
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 | 3.0% |
| 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 | $113,341 |
| Deposits held in domestic offices | $113,341 |
| Deposits by Individuals, partnerships, and corporations | $101,817 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $0 |
| Deposits by Commercial banks and other depository institutions in U.S. | $11,524 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $23,119 |
| Demand deposits | $15,259 |
| Nontransaction accounts | $90,222 |
| Money market deposit accounts (MMDAs) | $9,878 |
| Other savings deposits (excluding MMDAs) | $15,990 |
| Total time deposits | $64,354 |
| Total time and savings deposits | $98,082 |
| Noninterest-bearing deposits | $15,259 |
| Interest-bearing deposits | $98,082 |
| Retail deposits | $108,817 |
| IRAs and Keogh plan accounts | $11,390 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $130,563 |
| Cash & Balances due from depository institutions | $9,546 |
| Interest-bearing balances | $7,934 |
| Total securities | $11,048 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $96,839 |
| Loan and leases loss allowance | $882 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $3,116 |
| Other real estate owned | $1,329 |
| Goodwill and other intangibles | $0 |
| All other assets | $8,685 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $130,562 |
| Total Liabilities | $114,946 |
| Total deposits | $113,341 |
| Interest-bearing deposits | $98,082 |
| Deposits held in domestic offices | $113,341 |
| % insured (estimated) | $96 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $0 |
| All other liabilities | $1,605 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $96,839 |
| Loan and leases loss allowance | $882 |
| Total loans and leases (domestic) | $97,721 |
| All real estate loans | $89,510 |
| Real estate loans in domestic offices | $89,510 |
| Construction and development loans | $8,485 |
| Residential 1-4 family construction | $5,094 |
| Other construction, all land development and other land | $3,391 |
| Loans secured by nonfarm nonresidential properties | $19,446 |
| Nonfarm nonresidential secured by owner-occupied properties | $15,386 |
| Commercial real estate & other non-farm, non-residential | $4,060 |
| Multifamily residential real estate | $8,927 |
| 1-4 family residential loans | $52,415 |
| Farmland loans | $237 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $6,997 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $1,215 |
| Credit card loans | $0 |
| Related Plans | $4 |
| Consumer Auto Loans | $271 |
| Other loans to individuals | $940 |
| 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 | $327 |
| Non 1-4 family restructured loans & leases | $0 |
| Total loans and leases (foreign) | $0 |
Sunset Bank & Savings had $96,839,000 of loans outstanding in 2019. $89,510,000 of loans were in real estate loans. $8,485,000 of loans were in development loans. $8,927,000 of loans were in multifamily mortgage loans. $52,415,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $271,000 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 | 66 | $16,524 | $250,364 |
| Nonfarm, nonresidential loans - <$100k | 13 | $766 | $58,923 |
| Nonfarm, nonresidential loans - $100-250k | 21 | $2,716 | $129,333 |
| Nonfarm, nonresidential loans - $250k-1MM | 32 | $13,042 | $407,563 |
| Commercial & Industrial, US addressed loans - <$1MM | 116 | $6,790 | $58,534 |
| Commercial & Industrial, US addressed loans - <$100k | 79 | $2,002 | $25,342 |
| Commercial & Industrial, US addressed loans - $100-250k | 22 | $1,670 | $75,909 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 15 | $3,118 | $207,867 |
| Farmland loans - <$1MM | 2 | $237 | $118,500 |
| Farmland loans - <$100k | 1 | $79 | $79,000 |
| Farmland loans - $100-250k | 1 | $158 | $158,000 |