Spring Bank Mortgage Rates, Fees & Info

Brookfield, WI

LEI: 549300Z0DIN11QBU4C61

Tax ID: 26-3029523

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

Review & Overview

Spring Bank is a smaller bank specializing in various types of mortgages.

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Originations

Origination Dollar Volume (All Markets)

Employee count

Complaints

Bank Name	Product	Issue	2021 CPFB Complaints	% of Total Issues
Spring Equity LLC	Conventional home mortgage	Trouble during payment process	1	20.0%
Spring Equity LLC	Home equity loan or line of credit (HELOC)	Applying for a mortgage or refinancing an existing mortgage	1	20.0%
Spring Equity LLC	Home equity loan or line of credit (HELOC)	Closing on a mortgage	1	20.0%
Spring Equity LLC	Home equity loan or line of credit (HELOC)	Trouble during payment process	2	40.0%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Spring Bank	16620 West Bluemound Road, Suite 100a Brookfield, WI 53005	Full Service B&M	$292,108

For 2021, Spring Bank had 1 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$14,510
Net interest income	$12,101
Total noninterest income	$363
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$123
Trading account gains and fees	$0
Additional Noninterest Income	$240
Pre-tax net operating income	$6,773
Securities gains (or losses, -)	$0
Income before extraordinary items	$5,034
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$5,034
Minority interest net income	$0
Net income	$5,034
Sale, conversion, retirement of capital stock, net	$-376
Net operating income	$5,034

Spring Bank's gross interest income from loans was $14,510,000.
Spring Bank's net interest income from loans was $12,101,000.
Spring Bank's fee based income from loans was $123,000.
Spring Bank's net income from loans was $5,034,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$2,409
Provision for credit losses	$75
Total noninterest expense	$5,616
Salaries and employee benefits	$3,891
Premises and equipment expense	$322
Additional noninterest expense	$1,403
Applicable income taxes	$1,739
Net charge-offs	$27
Cash dividends	$2,076

Spring Bank's interest expense for loans was $2,409,000.
Spring Bank's payroll and benefits expense were $3,891,000.
Spring Bank's property, plant and equipment expenses $322,000.

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	1.0%
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	$294,644
Deposits held in domestic offices	$294,644
Deposits by Individuals, partnerships, and corporations	$279,529
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$1,036
Deposits by Commercial banks and other depository institutions in U.S.	$14,078
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$49,531
Demand deposits	$44,541
Nontransaction accounts	$245,112
Money market deposit accounts (MMDAs)	$145,088
Other savings deposits (excluding MMDAs)	$236
Total time deposits	$99,789
Total time and savings deposits	$250,102
Noninterest-bearing deposits	$44,541
Interest-bearing deposits	$250,103
Retail deposits	$267,749
IRAs and Keogh plan accounts	$12,511
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$368,811
Cash & Balances due from depository institutions	$42,273
Interest-bearing balances	$25,967
Total securities	$35,016
Federal funds sold & reverse repurchase	$0
Net loans and leases	$282,586
Loan and leases loss allowance	$4,437
Trading account assets	$0
Bank premises and fixed assets	$90
Other real estate owned	$0
Goodwill and other intangibles	$0
All other assets	$8,846

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$368,811
Total Liabilities	$326,562
Total deposits	$294,644
Interest-bearing deposits	$250,103
Deposits held in domestic offices	$294,644
% insured (estimated)	$77
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$30,000
Subordinated debt	$0
All other liabilities	$1,918

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$282,586
Loan and leases loss allowance	$4,437
Total loans and leases (domestic)	$287,023
All real estate loans	$223,880
Real estate loans in domestic offices	$223,880
Construction and development loans	$19,327
Residential 1-4 family construction	$2,770
Other construction, all land development and other land	$16,557
Loans secured by nonfarm nonresidential properties	$148,538
Nonfarm nonresidential secured by owner-occupied properties	$75,494
Commercial real estate & other non-farm, non-residential	$73,044
Multifamily residential real estate	$12,142
1-4 family residential loans	$43,873
Farmland loans	$0
Loans held in foreign offices	$0
Farm loans	$0
Commercial and industrial loans	$61,223
To non-U.S. addressees	$0
Loans to individuals	$85
Credit card loans	$0
Related Plans	$0
Consumer Auto Loans	$0
Other loans to individuals	$85
All other loans & leases	$1,835
Loans to foreign governments and official institutions	$0
Other loans	$873
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

Spring Bank had $282,586,000 of loans outstanding in 2021. $223,880,000 of loans were in real estate loans. $19,327,000 of loans were in development loans. $12,142,000 of loans were in multifamily mortgage loans. $43,873,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $0 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	314	$82,673	$263,290
Nonfarm, nonresidential loans - <$100k	43	$2,317	$53,884
Nonfarm, nonresidential loans - $100-250k	108	$15,723	$145,583
Nonfarm, nonresidential loans - $250k-1MM	163	$64,633	$396,521
Commercial & Industrial, US addressed loans - <$1MM	297	$33,415	$112,508
Commercial & Industrial, US addressed loans - <$100k	173	$5,162	$29,838
Commercial & Industrial, US addressed loans - $100-250k	65	$8,408	$129,354
Commercial & Industrial, US addressed loans - $250k-1MM	59	$19,845	$336,356