Settlers Bank Mortgage Rates, Fees & Info
Windsor, WI
LEI: 549300UGOOUZ7MQRIN06
Tax ID: 26-0636784
5 stars
-
out of 5 stars, based on 17 reviews
Jump to:
Mortgage Data
Bank Data
Overview
Settlers Bank is a
smaller
bank
specializing in
Refi and Home Purchase loans.
Settlers Bank has a high proportion of conventional loans.
Their top markets include Madison, Appleton, Oshkosh, Baraboo, and Milwaukee among others. Settlers Bank has
an above average
approval rate for mortages when compared nationally.
They have
a below average
pick rate when compared to the same sample of other lendors.
Settlers Bank is typically
a low fee
lendor.
Originations
299
Origination Dollar Volume (All Markets)
$99,905,000
Employee count
42
Show all (3) awards
×
Settlers Bank - 2021
Settlers Bank is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
Work for Settlers Bank?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
Relative Rate
Settlers Bank's average 30 year fixed rate mortgage of loans were
3.05%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.1%.
Relative Fees
Settlers Bank's average total fees for a 30 year fixed rate
mortgage are $2,480.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
Market |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
MADISON, WI (FHA|USDA|VA)
|
194
|
$69,740,000 |
$359,485 |
$2,295 |
3.00% |
Outside of Metro Areas
|
23 |
$9,515,000 |
$413,696 |
$2,047 |
3.27% |
APPLETON, WI (FHA|USDA|VA)
|
21
|
$5,205,000 |
$247,857 |
$1,612 |
2.72% |
OSHKOSH-NEENAH, WI (FHA|USDA|VA)
|
13
|
$3,465,000 |
$266,538 |
$1,956 |
3.08% |
Baraboo, WI (FHA|USDA|VA)
|
7
|
$2,555,000 |
$365,000 |
$1,861 |
3.11% |
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA)
|
10
|
$1,950,000 |
$195,000 |
$2,120 |
3.30% |
Watertown-Fort Atkinson, WI (FHA|USDA|VA)
|
4
|
$1,380,000 |
$345,000 |
$2,346 |
2.81% |
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA)
|
3
|
$965,000 |
$321,667 |
$4,353 |
2.92% |
JANESVILLE-BELOIT, WI (FHA|USDA|VA)
|
5
|
$795,000 |
$159,000 |
$2,092 |
3.38% |
WAUSAU-WESTON, WI (FHA|USDA|VA)
|
3
|
$715,000 |
$238,333 |
$1,393 |
2.29% |
GREEN BAY, WI (FHA|USDA|VA)
|
4
|
$700,000 |
$175,000 |
$1,785 |
2.63% |
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA)
|
2
|
$680,000 |
$340,000 |
$2,591 |
3.00% |
Beaver Dam, WI (FHA|USDA|VA)
|
2
|
$650,000 |
$325,000 |
$2,730 |
3.13% |
SHEBOYGAN, WI (FHA|USDA|VA)
|
2
|
$540,000 |
$270,000 |
$2,538 |
3.43% |
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA)
|
1
|
$455,000 |
$455,000 |
$4,562 |
2.25% |
FOND DU LAC, WI (FHA|USDA|VA)
|
1
|
$215,000 |
$215,000 |
$1,972 |
3.13% |
Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA)
|
1
|
$145,000 |
$145,000 |
$1,185 |
2.25% |
Marinette, WI-MI (FHA|USDA|VA)
|
2
|
$140,000 |
$70,000 |
$0 |
3.83% |
Platteville, WI (FHA|USDA|VA)
|
1
|
$95,000 |
$95,000 |
$2,684 |
3.25% |
Settlers Bank's top markets include Madison, Appleton, Oshkosh, Baraboo, and Milwaukee among others.
Product Mix
Loan Type |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
Conventional |
291 |
$96,775,000 |
$332,560 |
$2,155 |
3.02% |
VA |
8 |
$3,130,000 |
$391,250 |
$4,192 |
2.75% |
For the 2021 period, Settlers Bank's most frequently
originated loan type
of loans were Conventional, with 291 originations.
Their 2nd most popular type is VA,
with 8 originations.
Loan Reason
Loan Reason |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
Refi |
136 |
$49,010,000 |
$360,368 |
$1,829 |
2.83% |
Home Purchase |
116 |
$37,050,000 |
$319,397 |
$2,817 |
3.23% |
Cash Out Refi |
46 |
$13,790,000 |
$299,783 |
$1,907 |
2.95% |
Home Improvement |
1 |
$55,000 |
$55,000 |
$0 |
4.65% |
For the 2021, Settlers Bank's most frequently cited loan
purpose
of loans were Refi, with 136
originations.
The 2nd most popular reason of loans were Home Purchase,
with 116 originations.
Loan Duration/Length
Loan Length |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
30 Year |
202 |
$66,960,000 |
$331,485 |
$2,480 |
3.05% |
15 Year |
49 |
$14,275,000 |
$291,327 |
$1,855 |
2.28% |
20 Year |
22 |
$4,680,000 |
$212,727 |
$1,179 |
3.45% |
5 Year |
12 |
$9,550,000 |
$795,833 |
$0 |
4.09% |
10 Year |
7 |
$825,000 |
$117,857 |
$738 |
2.55% |
1 Year |
3 |
$2,805,000 |
$935,000 |
$0 |
4.60% |
Other |
3 |
$665,000 |
$221,667 |
$748 |
4.24% |
3 Year |
1 |
$145,000 |
$145,000 |
$0 |
4.40% |
For the 2021, Settlers Bank's most frequently cited loan
length
of loans were 30 Year, with 202 originations.
The 2nd most popular length of loans were 15 Year,
with 49 originations.
Origination Fees
Origination Fee |
Originations |
Total Value |
Average Loan |
$<1k |
243 |
$72,805,000 |
$299,609 |
$1k-2k |
23 |
$7,825,000 |
$340,217 |
$3k-4k |
7 |
$2,525,000 |
$360,714 |
$2k-3k |
6 |
$2,070,000 |
$345,000 |
$5k+ |
4 |
$2,180,000 |
$545,000 |
$2,480 of loans were Settlers Bank's
average total fees, while their most
frequently occuring range of origination fees were in the
$<1k bucket,
with 243 originations.
Interest Rates
Loan Rate |
Originations |
Total Value |
Average Loan |
2.5-3% |
146 |
$47,870,000 |
$327,877 |
3-4% |
70 |
$29,970,000 |
$428,143 |
<2.5% |
60 |
$16,510,000 |
$275,167 |
4-5% |
21 |
$4,865,000 |
$231,667 |
5-6% |
2 |
$690,000 |
$345,000 |
During 2021, Settlers Bank's average interest
rate of loans were 3.05%, while their
most frequently originated rate bucket of loans were 2.5-3%,
with 146 originations.
Loan Sizing
Loan Size |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
$200k-400k |
137 |
$39,925,000 |
$291,423 |
$2,250 |
2.91% |
$400k-600k |
74 |
$36,130,000 |
$488,243 |
$2,440 |
2.92% |
$100k-200k |
58 |
$8,840,000 |
$152,414 |
$1,909 |
2.92% |
$100,000 or less |
21 |
$1,255,000 |
$59,762 |
$1,094 |
3.88% |
$600k-1MM |
6 |
$4,110,000 |
$685,000 |
$4,833 |
3.84% |
$1MM+ |
3 |
$9,645,000 |
$3,215,000 |
$0 |
3.71% |
2021 saw Settlers Bank place emphasis on
$200k-400k loans
with 137 originations, totaling
$39,925,000 in origination value.
Applicant Income
Applicant Income |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
$150k-250k |
79 |
$27,935,000 |
$353,608 |
$2,064 |
2.93% |
$100k-150k |
68 |
$20,860,000 |
$306,765 |
$2,142 |
2.99% |
$250k+ |
53 |
$21,705,000 |
$409,528 |
$2,369 |
3.01% |
$50k-75k |
38 |
$8,100,000 |
$213,158 |
$1,904 |
2.84% |
$75k-100k |
32 |
$8,030,000 |
$250,938 |
$2,958 |
3.01% |
$50k or less |
14 |
$2,060,000 |
$147,143 |
$1,943 |
2.77% |
Settlers Bank lent most frequently to those with incomes in the
$150k-250k range, with
79 originations.
The second most popular income band? $100k-150k,
with 68 originations.
Applicant Debt to Income Ratio
DTI Ratio |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
20-30% |
75 |
$22,545,000 |
$300,600 |
$2,236 |
2.87% |
30-36% |
56 |
$17,750,000 |
$316,964 |
$2,494 |
3.09% |
<20% |
48 |
$15,810,000 |
$329,375 |
$1,971 |
2.76% |
41% |
13 |
$3,275,000 |
$251,923 |
$2,654 |
3.21% |
40% |
10 |
$3,610,000 |
$361,000 |
$2,043 |
3.25% |
36% |
9 |
$3,255,000 |
$361,667 |
$1,864 |
2.78% |
42% |
8 |
$2,130,000 |
$266,250 |
$1,709 |
3.13% |
37% |
8 |
$1,790,000 |
$223,750 |
$2,491 |
2.64% |
44% |
8 |
$2,650,000 |
$331,250 |
$2,700 |
2.92% |
49% |
8 |
$2,590,000 |
$323,750 |
$1,997 |
2.77% |
48% |
7 |
$2,745,000 |
$392,143 |
$2,187 |
3.28% |
38% |
7 |
$1,945,000 |
$277,857 |
$1,286 |
2.77% |
45% |
6 |
$1,120,000 |
$186,667 |
$2,320 |
2.71% |
46% |
6 |
$1,730,000 |
$288,333 |
$2,269 |
2.77% |
39% |
6 |
$1,970,000 |
$328,333 |
$1,739 |
2.94% |
43% |
4 |
$1,020,000 |
$255,000 |
$2,209 |
3.19% |
47% |
2 |
$990,000 |
$495,000 |
$3,359 |
3.06% |
50-60% |
2 |
$480,000 |
$240,000 |
$1,637 |
4.87% |
>60% |
1 |
$1,285,000 |
$1,285,000 |
$0 |
4.25% |
Settlers Bank lent most frequently to those with DTI ratios
of 20-30%, with
75 originations.
The next most common DTI ratio? 30-36%,
with 56 originations.
Ethnicity Mix
Applicant Ethnicity |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
White |
239 |
$75,485,000 |
$315,837 |
$2,128 |
2.92% |
Not applicable |
14 |
$10,980,000 |
$784,286 |
$0 |
4.22% |
Not provided |
32 |
$9,890,000 |
$309,063 |
$2,510 |
2.96% |
Black |
7 |
$1,855,000 |
$265,000 |
$3,551 |
3.96% |
Asian |
6 |
$1,330,000 |
$221,667 |
$2,048 |
3.04% |
American Indian |
1 |
$365,000 |
$365,000 |
$4,237 |
2.75% |
Approval Rates
Total approvals of all applications
98.28%
Settlers 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
87.22%
Settlers Bank has an average pick rate.
Points and Fees
Points |
Originations |
Total Value |
Average Loan |
NA |
299 |
$99,905,000 |
$334,130 |
Occupancy Type Mix
Dwelling Type |
Originations |
Total Value |
Average Loan |
|
299 |
$99,905,000 |
$334,130 |
LTV Distribution
Loan to Value |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
20-40% |
21 |
$5,235,000 |
$249,286 |
$1,586 |
2.96% |
40-60% |
48 |
$15,770,000 |
$328,542 |
$1,992 |
2.77% |
60-80% |
141 |
$45,355,000 |
$321,667 |
$2,199 |
2.98% |
80-100% |
75 |
$27,505,000 |
$366,733 |
$2,844 |
3.08% |
Over 100% |
1 |
$5,155,000 |
$5,155,000 |
$0 |
3.65% |
Under 20% |
13 |
$885,000 |
$68,077 |
$719 |
3.94% |
Bank Details
Branches
Bank Name |
Branch |
Branch Type |
Deposits (000's) |
Settlers Bank |
4021 Meridian Drive De Forest, WI 53532 |
Full Service B&M
|
$216,981 |
Settlers Bank |
8010 Excelsior Drive Madison, WI 53717 |
Full Service B&M
|
$21,427 |
Settlers Bank |
4321 W. College Avenue Appleton, WI 54914 |
Full Service B&M
|
$14,875 |
For 2021, Settlers Bank had 3 branches.
Yearly Performance Overview
Bank Income
Settlers Bank's gross interest income from loans was $15,055,000.
Settlers Bank's net interest income from loans was $13,679,000.
Settlers Bank's fee based income from loans was $171,000.
Settlers Bank's net income from loans was $3,778,000.
Bank Expenses
Item |
Value (in 000's) |
Total interest expense |
$1,376 |
Provision for credit losses |
$2,192 |
Total noninterest expense |
$8,808 |
Salaries and employee benefits |
$5,835 |
Premises and equipment expense |
$871 |
Additional noninterest expense |
$2,102 |
Applicable income taxes |
$1,355 |
Net charge-offs |
$571 |
Cash dividends |
$150 |
Settlers Bank's interest expense for loans was $1,376,000.
Settlers Bank's payroll and benefits expense were $5,835,000.
Settlers Bank's property, plant and equipment expenses $871,000.
Deposits
Type |
Value (in 000's) |
Total deposits |
$270,835 |
Deposits held in domestic offices |
$270,835 |
Deposits by Individuals, partnerships, and corporations |
$245,035 |
Deposits by U.S. Government |
$0 |
Deposits by States and political subdivisions in the U.S. |
$15,658 |
Deposits by Commercial banks and other depository institutions in U.S. |
$10,142 |
Deposits by Banks in foreign countries |
$0 |
Deposits by Foreign governments and official institutions |
$0 |
Transaction accounts |
$169,260 |
Demand deposits |
$96,428 |
Nontransaction accounts |
$101,575 |
Money market deposit accounts (MMDAs) |
$65,310 |
Other savings deposits (excluding MMDAs) |
$3,449 |
Total time deposits |
$32,816 |
Total time and savings deposits |
$174,407 |
Noninterest-bearing deposits |
$92,287 |
Interest-bearing deposits |
$178,548 |
Retail deposits |
$263,341 |
IRAs and Keogh plan accounts |
$3,572 |
Brokered deposits |
$2,372 |
Deposits held in foreign offices |
$0 |
Assets
Asset |
Value (in 000's) |
Total Assets |
$346,135 |
Cash & Balances due from depository institutions |
$27,391 |
Interest-bearing balances |
$14,519 |
Total securities |
$5,309 |
Federal funds sold & reverse repurchase |
$213 |
Net loans and leases |
$304,978 |
Loan and leases loss allowance |
$8,201 |
Trading account assets |
$0 |
Bank premises and fixed assets |
$616 |
Other real estate owned |
$0 |
Goodwill and other intangibles |
$922 |
All other assets |
$6,706 |
Liabilities
Liabilities |
Value (in 000's) |
Total liabilities and capital |
$346,135 |
Total Liabilities |
$307,854 |
Total deposits |
$270,835 |
Interest-bearing deposits |
$178,548 |
Deposits held in domestic offices |
$270,835 |
% insured (estimated) |
$65 |
Federal funds purchased and repurchase agreements |
$0 |
Trading liabilities |
$0 |
Other borrowed funds |
$35,299 |
Subordinated debt |
$0 |
All other liabilities |
$1,720 |
Issued Loan Types
Type |
Value (in 000's) |
Net loans and leases |
$304,978 |
Loan and leases loss allowance |
$8,201 |
Total loans and leases (domestic) |
$313,179 |
All real estate loans |
$223,756 |
Real estate loans in domestic offices |
$223,756 |
Construction and development loans |
$25,233 |
Residential 1-4 family construction |
$21,520 |
Other construction, all land development and other land |
$3,713 |
Loans secured by nonfarm nonresidential properties |
$120,007 |
Nonfarm nonresidential secured by owner-occupied properties |
$45,915 |
Commercial real estate & other non-farm, non-residential |
$74,092 |
Multifamily residential real estate |
$17,488 |
1-4 family residential loans |
$59,049 |
Farmland loans |
$1,979 |
Loans held in foreign offices |
$0 |
Farm loans |
$0 |
Commercial and industrial loans |
$81,787 |
To non-U.S. addressees |
$0 |
Loans to individuals |
$6,254 |
Credit card loans |
$37 |
Related Plans |
$2,208 |
Consumer Auto Loans |
$8 |
Other loans to individuals |
$4,001 |
All other loans & leases |
$1,528 |
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 |
$0 |
Non 1-4 family restructured loans & leases |
$0 |
Total loans and leases (foreign) |
$0 |
Settlers Bank had $304,978,000 of loans outstanding in 2021. $223,756,000 of loans were in real estate loans.
$25,233,000 of loans were in development loans. $17,488,000 of loans were in multifamily mortgage loans.
$59,049,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $37,000
of loans were in credit card loans. $8,000 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 |
128 |
$42,831 |
$334,617 |
Nonfarm, nonresidential loans - <$100k |
18 |
$823 |
$45,722 |
Nonfarm, nonresidential loans - $100-250k |
31 |
$3,633 |
$117,194 |
Nonfarm, nonresidential loans - $250k-1MM |
79 |
$38,375 |
$485,759 |
Commercial & Industrial, US addressed loans - <$1MM |
203 |
$26,147 |
$128,803 |
Commercial & Industrial, US addressed loans - <$100k |
89 |
$1,859 |
$20,888 |
Commercial & Industrial, US addressed loans - $100-250k |
54 |
$6,602 |
$122,259 |
Commercial & Industrial, US addressed loans - $250k-1MM |
60 |
$17,686 |
$294,767 |
Farmland loans - <$1MM |
2 |
$229 |
$114,500 |
Farmland loans - $100-250k |
2 |
$229 |
$114,500 |