Oak Bank Mortgage Rates, Fees & Info
Fitchburg, WILEI: 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
212Origination Dollar Volume (All Markets)
$73,850,000Employee count
35Top 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% |
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
2021 saw Oak Bank place emphasis on $200k-400k loans with 93 originations, totaling $26,705,000 in origination value.
Applicant Income
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
Approval Rates
Total approvals of all applications97.70%
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 origination85.38%
Oak Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 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 |