Bank Of Sun Prairie Mortgage Rates, Fees & Info

Sun Prairie,

LEI: 6354007NTMKKVRFIIP73

Tax ID: 39-0148140

5 stars - out of 5 stars, based on 21 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Bank Of Sun Prairie is a smaller bank specializing in Refi and Home Purchase loans. Bank Of Sun Prairie has a high proportion of conventional loans. Their top markets include Madison, Green Bay, Eau Claire, Janesville, and Milwaukee among others. Bank Of Sun Prairie 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. Bank Of Sun Prairie is typically a low fee lendor.


Originations

445

Origination Dollar Volume (All Markets)

$132,455,000

Employee count

85

Awards

Bank of Sun Prairie 30 Year Conventional Loans bronze Bank of Sun Prairie 30 Year Conventional Loans gold Bank of Sun Prairie 30 Year Conventional Loans gold
Show all (3) awards

Relative Rate

Bank Of Sun Prairie's average 30 year fixed rate mortgage of loans were 2.94%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.21%.

Relative Fees

Bank Of Sun Prairie's average total fees for a 30 year fixed rate mortgage are $2,748.

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) 358 $96,850,000 $270,531 $2,415 2.75%
GREEN BAY, WI (FHA|USDA|VA) 5 $11,035,000 $2,207,000 $4,109 2.47%
EAU CLAIRE, WI (FHA|USDA|VA) 1 $5,485,000 $5,485,000 $0 4.00%
Outside of Metro Areas 19 $4,435,000 $233,421 $2,152 2.96%
JANESVILLE-BELOIT, WI (FHA|USDA|VA) 13 $3,985,000 $306,538 $2,800 2.97%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 12 $3,020,000 $251,667 $1,982 3.09%
Beaver Dam, WI (FHA|USDA|VA) 9 $1,875,000 $208,333 $2,778 3.15%
Watertown-Fort Atkinson, WI (FHA|USDA|VA) 9 $1,705,000 $189,444 $2,416 2.94%
Baraboo, WI (FHA|USDA|VA) 6 $1,180,000 $196,667 $2,811 3.12%
Whitewater, WI (FHA|USDA|VA) 3 $745,000 $248,333 $2,237 2.99%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 2 $640,000 $320,000 $1,731 2.63%
Platteville, WI (FHA|USDA|VA) 2 $460,000 $230,000 $3,193 3.38%
LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 3 $335,000 $111,667 $2,024 2.29%
WAUSAU-WESTON, WI (FHA|USDA|VA) 1 $305,000 $305,000 $2,183 2.13%
Shawano, WI (FHA|USDA|VA) 1 $235,000 $235,000 $1,440 2.75%
RACINE, WI (FHA|USDA|VA) 1 $165,000 $165,000 $1,684 2.13%

Bank Of Sun Prairie's top markets include Madison, Green Bay, Eau Claire, Janesville, and Milwaukee among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 445 $132,455,000 $297,652 $2,418 2.79%

For the 2021 period, Bank Of Sun Prairie's most frequently originated loan type of loans were Conventional, with 445 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 224 $72,000,000 $321,429 $1,944 2.67%
Home Purchase 122 $38,100,000 $312,295 $3,370 3.08%
Cash Out Refi 93 $22,015,000 $236,720 $2,585 2.63%
Other 5 $305,000 $61,000 $509 3.88%
Home Improvement 1 $35,000 $35,000 $0 4.25%

For the 2021, Bank Of Sun Prairie's most frequently cited loan purpose of loans were Refi, with 224 originations. The 2nd most popular reason of loans were Home Purchase, with 122 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 229 $61,945,000 $270,502 $2,748 2.94%
15 Year 109 $22,965,000 $210,688 $1,922 2.17%
20 Year 49 $10,905,000 $222,551 $2,131 2.91%
5 Year 36 $19,970,000 $554,722 $0 3.65%
10 Year 13 $12,455,000 $958,077 $1,980 2.18%
Other 7 $4,005,000 $572,143 $2,487 3.03%
1 Year 2 $210,000 $105,000 $0 3.97%

For the 2021, Bank Of Sun Prairie's most frequently cited loan length of loans were 30 Year, with 229 originations. The 2nd most popular length of loans were 15 Year, with 109 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 189 $44,955,000 $237,857
$1k-2k 114 $29,120,000 $255,439
$2k-3k 42 $10,420,000 $248,095
$3k-4k 28 $8,360,000 $298,571
$5k+ 3 $805,000 $268,333

$2,748 of loans were Bank Of Sun Prairie's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 189 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 193 $52,695,000 $273,031
<2.5% 139 $28,225,000 $203,058
3-4% 101 $50,265,000 $497,673
4-5% 12 $1,270,000 $105,833

During 2021, Bank Of Sun Prairie's average interest rate of loans were 2.94%, while their most frequently originated rate bucket of loans were 2.5-3%, with 193 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 199 $54,035,000 $271,533 $2,594 2.75%
$100k-200k 155 $24,205,000 $156,161 $2,257 2.62%
$400k-600k 42 $20,000,000 $476,190 $2,880 2.90%
$100,000 or less 32 $2,050,000 $64,063 $1,346 3.33%
$600k-1MM 10 $6,980,000 $698,000 $2,636 3.45%
$1MM+ 7 $25,185,000 $3,597,857 $1,896 3.49%

2021 saw Bank Of Sun Prairie place emphasis on $200k-400k loans with 199 originations, totaling $54,035,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 106 $26,840,000 $253,208 $2,473 2.68%
$50k-75k 80 $16,130,000 $201,625 $2,531 2.70%
$150k-250k 78 $22,790,000 $292,179 $2,264 2.64%
$75k-100k 69 $15,345,000 $222,391 $2,399 2.80%
$50k or less 37 $6,005,000 $162,297 $2,709 2.90%
$250k+ 26 $11,040,000 $424,615 $2,621 2.77%

Bank Of Sun Prairie lent most frequently to those with incomes in the $100k-150k range, with 106 originations. The second most popular income band? $50k-75k, with 80 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 118 $29,390,000 $249,068 $2,300 2.63%
30-36% 74 $18,640,000 $251,892 $2,446 2.79%
<20% 61 $13,065,000 $214,180 $2,114 2.54%
42% 15 $4,855,000 $323,667 $2,549 3.08%
48% 14 $3,370,000 $240,714 $2,431 2.60%
45% 13 $3,025,000 $232,692 $2,821 2.75%
37% 12 $2,570,000 $214,167 $2,474 2.64%
44% 12 $2,820,000 $235,000 $2,578 2.68%
36% 11 $2,815,000 $255,909 $3,089 2.68%
43% 11 $3,335,000 $303,182 $2,528 2.74%
41% 11 $2,705,000 $245,909 $2,547 2.99%
38% 11 $2,315,000 $210,455 $2,681 3.01%
40% 7 $1,875,000 $267,857 $3,797 2.80%
39% 7 $1,215,000 $173,571 $1,918 2.63%
46% 7 $1,995,000 $285,000 $3,161 2.79%
47% 7 $1,535,000 $219,286 $2,448 2.68%
50-60% 6 $1,770,000 $295,000 $2,314 2.83%
49% 4 $940,000 $235,000 $2,253 2.69%
>60% 4 $1,340,000 $335,000 $1,397 3.19%

Bank Of Sun Prairie lent most frequently to those with DTI ratios of 20-30%, with 118 originations. The next most common DTI ratio? 30-36%, with 74 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 325 $79,965,000 $246,046 $2,350 2.71%
Not applicable 38 $32,270,000 $849,211 $0 3.61%
Not provided 53 $12,955,000 $244,434 $2,787 2.76%
Asian 16 $4,610,000 $288,125 $2,059 2.44%
Black 7 $1,535,000 $219,286 $2,667 3.07%
American Indian 4 $710,000 $177,500 $4,429 2.97%
Other Asian 1 $285,000 $285,000 $2,111 2.13%
Asian Indian 1 $125,000 $125,000 $1,902 2.13%

Approval Rates

Total approvals of all applications
95.32%

Bank Of Sun Prairie 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
87.02%

Bank Of Sun Prairie has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 445 $132,455,000 $297,652

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
445 $132,455,000 $297,652

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 36 $5,150,000 $143,056 $1,867 2.67%
40-60% 124 $29,530,000 $238,145 $1,913 2.48%
60-80% 183 $69,565,000 $380,137 $2,637 2.87%
80-100% 92 $27,770,000 $301,848 $3,203 2.95%
Under 20% 10 $440,000 $44,000 $335 4.16%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
BANK OF THE WEST Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 5 16.7%
BANK OF THE WEST VA mortgage Trouble during payment process 1 3.3%
BANK OF THE WEST Other type of mortgage Trouble during payment process 2 6.7%
BANK OF THE WEST Other type of mortgage Struggling to pay mortgage 1 3.3%
BANK OF THE WEST Other type of mortgage Closing on a mortgage 1 3.3%
BANK OF THE WEST Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 3.3%
BANK OF THE WEST Home equity loan or line of credit (HELOC) Trouble during payment process 3 10.0%
BANK OF THE WEST Home equity loan or line of credit (HELOC) Closing on a mortgage 4 13.3%
BANK OF THE WEST Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 2 6.7%
BANK OF THE WEST FHA mortgage Trouble during payment process 1 3.3%
BANK OF THE WEST Conventional home mortgage Struggling to pay mortgage 2 6.7%
BANK OF THE WEST Conventional home mortgage Closing on a mortgage 1 3.3%
BANK OF THE WEST Conventional home mortgage Trouble during payment process 6 20.0%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Bank of Sun Prairie 228 East Main Street Sun Prairie, WI 53590 Full Service B&M $290,301
Bank of Sun Prairie 419 West Cottage Grove Road Cottage Grove, WI 53527 Full Service B&M $56,065
Bank of Sun Prairie 550 Broadway Drive Sun Prairie, WI 53590 Full Service B&M $48,159
Bank of Sun Prairie 695 South Grand Avenue Sun Prairie, WI 53590 Full Service B&M $78,674

For 2021, Bank Of Sun Prairie had 4 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $20,211
Net interest income $18,347
Total noninterest income $3,957
Gross Fiduciary activities income $359
Service charges on deposit accounts $166
Trading account gains and fees $0
Additional Noninterest Income $3,432
Pre-tax net operating income $7,293
Securities gains (or losses, -) $0
Income before extraordinary items $5,515
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $5,515
Minority interest net income $0
Net income $5,515
Sale, conversion, retirement of capital stock, net $0
Net operating income $5,515

Bank Of Sun Prairie's gross interest income from loans was $20,211,000.
Bank Of Sun Prairie's net interest income from loans was $18,347,000.
Bank Of Sun Prairie's fee based income from loans was $166,000.
Bank Of Sun Prairie's net income from loans was $5,515,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $1,864
Provision for credit losses $976
Total noninterest expense $14,035
Salaries and employee benefits $9,545
Premises and equipment expense $801
Additional noninterest expense $3,689
Applicable income taxes $1,778
Net charge-offs $0
Cash dividends $2,075

Bank Of Sun Prairie's interest expense for loans was $1,864,000.
Bank Of Sun Prairie's payroll and benefits expense were $9,545,000.
Bank Of Sun Prairie's property, plant and equipment expenses $801,000.

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 $485,369
Deposits held in domestic offices $485,369
Deposits by Individuals, partnerships, and corporations $466,386
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $17,806
Deposits by Commercial banks and other depository institutions in U.S. $1,177
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $157,736
Demand deposits $142,343
Nontransaction accounts $327,633
Money market deposit accounts (MMDAs) $216,557
Other savings deposits (excluding MMDAs) $33,002
Total time deposits $78,074
Total time and savings deposits $343,026
Noninterest-bearing deposits $111,626
Interest-bearing deposits $373,743
Retail deposits $472,011
IRAs and Keogh plan accounts $10,144
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $561,815
Cash & Balances due from depository institutions $32,778
Interest-bearing balances $29,405
Total securities $40,860
Federal funds sold & reverse repurchase $942
Net loans and leases $466,963
Loan and leases loss allowance $6,713
Trading account assets $0
Bank premises and fixed assets $3,691
Other real estate owned $0
Goodwill and other intangibles $1,779
All other assets $14,802

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $561,815
Total Liabilities $501,011
Total deposits $485,369
Interest-bearing deposits $373,743
Deposits held in domestic offices $485,369
% insured (estimated) $66
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $5,000
Subordinated debt $0
All other liabilities $10,642

Issued Loan Types

Type Value (in 000's)
Net loans and leases $466,963
Loan and leases loss allowance $6,713
Total loans and leases (domestic) $473,676
All real estate loans $407,875
Real estate loans in domestic offices $407,875
Construction and development loans $71,830
Residential 1-4 family construction $7,760
Other construction, all land development and other land $64,070
Loans secured by nonfarm nonresidential properties $214,395
Nonfarm nonresidential secured by owner-occupied properties $77,975
Commercial real estate & other non-farm, non-residential $136,420
Multifamily residential real estate $61,898
1-4 family residential loans $59,752
Farmland loans $0
Loans held in foreign offices $0
Farm loans $28
Commercial and industrial loans $62,233
To non-U.S. addressees $0
Loans to individuals $3,129
Credit card loans $0
Related Plans $278
Consumer Auto Loans $372
Other loans to individuals $2,479
All other loans & leases $411
Loans to foreign governments and official institutions $0
Other loans $402
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

Bank of Sun Prairie had $466,963,000 of loans outstanding in 2021. $407,875,000 of loans were in real estate loans. $71,830,000 of loans were in development loans. $61,898,000 of loans were in multifamily mortgage loans. $59,752,000 of loans were in 1-4 family mortgage loans. $28,000 of loans were in farm loans. $0 of loans were in credit card loans. $372,000 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 85 $26,071 $306,718
Nonfarm, nonresidential loans - <$100k 8 $395 $49,375
Nonfarm, nonresidential loans - $100-250k 25 $3,667 $146,680
Nonfarm, nonresidential loans - $250k-1MM 52 $22,009 $423,250
Commercial & Industrial, US addressed loans - <$1MM 85 $6,615 $77,824
Commercial & Industrial, US addressed loans - <$100k 59 $1,511 $25,610
Commercial & Industrial, US addressed loans - $100-250k 12 $1,282 $106,833
Commercial & Industrial, US addressed loans - $250k-1MM 14 $3,822 $273,000
Agriculture operations loans - <$1MM 3 $28 $9,333
Agriculture operations loans - <$100k 3 $28 $9,333