Settlers Bank Mortgage Rates, Fees & Info

Windsor, WI

LEI: 549300UGOOUZ7MQRIN06

Tax ID: 26-0636784

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

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

    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 by origination volume include: Madison, Appleton, Oshkosh, Baraboo, and Milwaukee among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Settlers Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Settlers Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.09% 11/21/24
    30 Year Conventional Refi 5.87% 11/21/24
    30 Year Cash-out Refi 6.31% 11/21/24
    30 Year VA Purchase 6.50% 11/21/24
    30 Year VA Refi 5.72% 11/21/24
    15 Year Conventional Purchase 5.83% 11/21/24
    15 Year Conventional Refi 5.72% 11/21/24
    15 Year Cash-out Refi 5.72% 11/21/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Settlers Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Settlers Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    299

    Origination Dollar Volume (All Markets)

    $99,905,000

    Employee count

    42

    Awards

    Settlers Bank 30 Year Conventional Loans silver Settlers Bank 30 Year Conventional Loans silver Settlers Bank 30 Year Conventional Loans silver
    Show all (3) awards

    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
    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.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Settlers Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    PROSPERA Credit Union
    Similarity Rank: 140
    DMB Community Bank
    Similarity Rank: 400
    Fox Valley Savings Bank
    Similarity Rank: 420
    Wolf River Community Bank
    Similarity Rank: 450
    The Bank of Kaukauna
    Similarity Rank: 484
    UNISON CREDIT UNION
    Similarity Rank: 504
    Dane County Credit Union
    Similarity Rank: 531
    BLC Community Bank
    Similarity Rank: 555
    The Greenwood's State Bank
    Similarity Rank: 625
    CAPITAL Credit Union
    Similarity Rank: 645

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 291 $96,775,000 $332,560 $2,155 3.02%
    VA 8 $3,130,000 $391,250 $4,192 2.75%

    For 2021, Settlers Bank's most frequently originated type of loan was Conventional, with 291 originations. Their 2nd most popular type was VA, with 8 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Settlers Bank's most frequently cited loan purpose was Refi, with 136 originations. The 2nd most popular reason was 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 2021, Settlers Bank's most frequently cited loan duration was 30 Year, with 202 originations. The 2nd most popular length was 15 Year, with 49 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 243 $72,805,000 $299,609
    $1k-2k 23 $7,825,000 $340,217
    $2k-3k 6 $2,070,000 $345,000
    $3k-4k 6 $2,030,000 $338,333
    $5k+ 4 $2,180,000 $545,000
    $4k-5k 1 $495,000 $495,000

    Settlers Bank's average total fees were $2,480, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.05%, while their most frequently originated rate bucket for loans was 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
    98.51%

    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
    88.29%

    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 4321 W. College Avenue Appleton, WI 54914 Full Service B&M $14,875
    Settlers Bank 8010 Excelsior Drive Madison, WI 53717 Full Service B&M $21,427

    For 2021, Settlers Bank had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $15,055
    Net interest income $13,679
    Total noninterest income $2,454
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $171
    Trading account gains and fees $0
    Additional Noninterest Income $2,283
    Pre-tax net operating income $5,133
    Securities gains (or losses, -) $0
    Income before extraordinary items $3,778
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,778
    Minority interest net income $0
    Net income $3,778
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,778

    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.

    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 $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