Oak Bank Mortgage Rates, Fees & Info

Fitchburg, WI

LEI: 549300UXZ76FJVM3UC43

Tax ID: 39-1998382

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Mortgage Data

Bank Data

Review & Overview

Oak Bank is a smaller bank specializing in Refi and Home Purchase loans. Oak Bank has a high proportion of conventional loans. Their top markets by origination volume include: Madison, Cape Coral, Key West, Phoenix, and Watertown among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)

Oak 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.

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Originations

212

Origination Dollar Volume (All Markets)

$73,850,000

Employee count

35

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) 169 $55,525,000 $328,550 $0 0.00%
Outside of Metro Areas 15 $5,335,000 $355,667 $0 0.00%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 5 $3,305,000 $661,000 $0 0.00%
Key West, FL (FHA|USDA|VA) 1 $2,325,000 $2,325,000 $0 0.00%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 3 $1,225,000 $408,333 $0 0.00%
Watertown-Fort Atkinson, WI (FHA|USDA|VA) 3 $905,000 $301,667 $0 0.00%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 3 $835,000 $278,333 $0 0.00%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $815,000 $815,000 $0 0.00%
GRAND JUNCTION, CO (FHA|USDA|VA) 2 $800,000 $400,000 $0 0.00%
WAUSAU-WESTON, WI (FHA|USDA|VA) 2 $650,000 $325,000 $0 0.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $645,000 $645,000 $0 0.00%
Baraboo, WI (FHA|USDA|VA) 1 $435,000 $435,000 $0 0.00%
OSHKOSH-NEENAH, WI (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
Whitewater, WI (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
JANESVILLE-BELOIT, WI (FHA|USDA|VA) 2 $190,000 $95,000 $0 0.00%
Beaver Dam, WI (FHA|USDA|VA) 1 $95,000 $95,000 $0 0.00%
Oak Bank's top markets include Madison, Cape Coral, Key West, Phoenix, and Watertown among others.

Their top states include:
  • Wisconsin (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 212 $73,850,000 $348,349 $0 0.00%

    For 2021, Oak Bank's most frequently originated type of loan was Conventional, with 212 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 145 $44,385,000 $306,103 $0 0.00%
    Home Purchase 63 $28,475,000 $451,984 $0 0.00%
    Other 4 $990,000 $247,500 $0 0.00%

    For 2021, Oak Bank's most frequently cited loan purpose was Refi, with 145 originations. The 2nd most popular reason was Home Purchase, with 63 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 212 $73,850,000 $348,349 $0 0.00%

    For 2021, Oak Bank's most frequently cited loan duration was Other, with 212 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 93 $26,705,000 $287,151 $0 0.00%
    $100k-200k 57 $8,875,000 $155,702 $0 0.00%
    $400k-600k 40 $19,160,000 $479,000 $0 0.00%
    $1MM+ 11 $14,695,000 $1,335,909 $0 0.00%
    $100,000 or less 6 $450,000 $75,000 $0 0.00%
    $600k-1MM 5 $3,965,000 $793,000 $0 0.00%

    2021 saw Oak Bank place emphasis on $200k-400k loans with 93 originations, totaling $26,705,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 50 $16,860,000 $337,200 $0 0.00%
    $250k+ 47 $23,635,000 $502,872 $0 0.00%
    $100k-150k 37 $8,995,000 $243,108 $0 0.00%
    $50k-75k 22 $5,120,000 $232,727 $0 0.00%
    $75k-100k 19 $4,385,000 $230,789 $0 0.00%
    $50k or less 7 $725,000 $103,571 $0 0.00%

    Oak Bank lent most frequently to those with incomes in the $150k-250k range, with 50 originations. The second most popular income band? $250k+, with 47 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 212 $73,850,000 $348,349 $0 0.00%

    Oak Bank lent most frequently to those with DTI ratios of Exempt%, with 212 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 157 $49,945,000 $318,121 $0 0.00%
    Not applicable 28 $13,490,000 $481,786 $0 0.00%
    Not provided 21 $8,635,000 $411,190 $0 0.00%
    Asian 3 $845,000 $281,667 $0 0.00%
    Black 2 $770,000 $385,000 $0 0.00%
    Native Hawaiian or Islander 1 $165,000 $165,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.70%

    Oak 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
    85.38%

    Oak Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 212 $73,850,000 $348,349

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    212 $73,850,000 $348,349

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Oak Bank 5951 Mckee Road Fitchburg, WI 53711 Full Service B&M $354,984

    For 2021, Oak Bank had 1 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $12,449
    Net interest income $11,253
    Total noninterest income $4,094
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $292
    Trading account gains and fees $0
    Additional Noninterest Income $3,802
    Pre-tax net operating income $6,070
    Securities gains (or losses, -) $0
    Income before extraordinary items $4,539
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,539
    Minority interest net income $0
    Net income $4,539
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,539

    Oak Bank's gross interest income from loans was $12,449,000.
    Oak Bank's net interest income from loans was $11,253,000.
    Oak Bank's fee based income from loans was $292,000.
    Oak Bank's net income from loans was $4,539,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,196
    Provision for credit losses $480
    Total noninterest expense $8,797
    Salaries and employee benefits $6,084
    Premises and equipment expense $738
    Additional noninterest expense $1,975
    Applicable income taxes $1,531
    Net charge-offs $-2
    Cash dividends $2,000

    Oak Bank's interest expense for loans was $1,196,000.
    Oak Bank's payroll and benefits expense were $6,084,000.
    Oak Bank's property, plant and equipment expenses $738,000.

    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 $364,576
    Deposits held in domestic offices $364,576
    Deposits by Individuals, partnerships, and corporations $355,231
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $8,849
    Deposits by Commercial banks and other depository institutions in U.S. $496
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $190,606
    Demand deposits $114,436
    Nontransaction accounts $173,970
    Money market deposit accounts (MMDAs) $110,853
    Other savings deposits (excluding MMDAs) $28,180
    Total time deposits $34,937
    Total time and savings deposits $250,140
    Noninterest-bearing deposits $114,436
    Interest-bearing deposits $250,140
    Retail deposits $350,810
    IRAs and Keogh plan accounts $3,103
    Brokered deposits $4,286
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $432,669
    Cash & Balances due from depository institutions $57,659
    Interest-bearing balances $49,963
    Total securities $82,120
    Federal funds sold & reverse repurchase $0
    Net loans and leases $279,664
    Loan and leases loss allowance $5,393
    Trading account assets $0
    Bank premises and fixed assets $366
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $12,860

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $432,669
    Total Liabilities $391,337
    Total deposits $364,576
    Interest-bearing deposits $250,140
    Deposits held in domestic offices $364,576
    % insured (estimated) $59
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $19,500
    Subordinated debt $0
    All other liabilities $7,261

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $279,664
    Loan and leases loss allowance $5,393
    Total loans and leases (domestic) $285,057
    All real estate loans $243,239
    Real estate loans in domestic offices $243,239
    Construction and development loans $20,328
    Residential 1-4 family construction $3,733
    Other construction, all land development and other land $16,595
    Loans secured by nonfarm nonresidential properties $135,295
    Nonfarm nonresidential secured by owner-occupied properties $69,631
    Commercial real estate & other non-farm, non-residential $65,664
    Multifamily residential real estate $16,444
    1-4 family residential loans $70,400
    Farmland loans $772
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $37,159
    To non-U.S. addressees $0
    Loans to individuals $4,659
    Credit card loans $567
    Related Plans $6
    Consumer Auto Loans $212
    Other loans to individuals $3,874
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Oak Bank had $279,664,000 of loans outstanding in 2021. $243,239,000 of loans were in real estate loans. $20,328,000 of loans were in development loans. $16,444,000 of loans were in multifamily mortgage loans. $70,400,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $567,000 of loans were in credit card loans. $212,000 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 126 $45,974 $364,873
    Nonfarm, nonresidential loans - <$100k 13 $547 $42,077
    Nonfarm, nonresidential loans - $100-250k 20 $3,381 $169,050
    Nonfarm, nonresidential loans - $250k-1MM 93 $42,046 $452,108
    Commercial & Industrial, US addressed loans - <$1MM 448 $23,273 $51,949
    Commercial & Industrial, US addressed loans - <$100k 311 $5,950 $19,132
    Commercial & Industrial, US addressed loans - $100-250k 71 $5,028 $70,817
    Commercial & Industrial, US addressed loans - $250k-1MM 66 $12,295 $186,288