The Park Bank Mortgage Rates, Fees & Info

Madison, WI

LEI: YQI2CPR3Z44KAR0HG822

Tax ID: 39-1076859

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

Review & Overview

The Park Bank is a smaller bank specializing in Refi and Home Purchase loans. The Park Bank has a high proportion of conventional loans. Their top markets by origination volume include: Madison, Green Bay, Milwaukee, Janesville, and Edwards among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)

The Park Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. The Park 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	6.28%	4/21/24
30 Year Conventional Refi	6.26%	4/21/24
30 Year Cash-out Refi	6.45%	4/21/24
15 Year Conventional Purchase	5.61%	4/21/24
15 Year Conventional Refi	5.76%	4/21/24
15 Year Cash-out Refi	5.76%	4/21/24
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.

The Park Bank Mortgage Calculator

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This is not an official calculator from The Park 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

517

Origination Dollar Volume (All Markets)

$168,865,000

Employee count

166

Awards

The Park 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)	446	$139,470,000	$312,713	$2,032	3.84%
GREEN BAY, WI (FHA\|USDA\|VA)	3	$10,805,000	$3,601,667	$1,252	4.18%
MILWAUKEE-WAUKESHA, WI (FHA\|USDA\|VA)	16	$5,210,000	$325,625	$2,051	3.48%
Outside of Metro Areas	8	$2,950,000	$368,750	$2,019	3.59%
JANESVILLE-BELOIT, WI (FHA\|USDA\|VA)	17	$2,815,000	$165,588	$1,701	4.36%
Edwards, CO (FHA\|USDA\|VA)	2	$1,550,000	$775,000	$2,960	4.19%
PHOENIX-MESA-CHANDLER, AZ (FHA\|USDA\|VA)	3	$1,285,000	$428,333	$6,028	3.68%
Watertown-Fort Atkinson, WI (FHA\|USDA\|VA)	4	$1,190,000	$297,500	$1,291	3.69%
Baraboo, WI (FHA\|USDA\|VA)	4	$850,000	$212,500	$2,015	3.94%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA\|USDA\|VA)	1	$545,000	$545,000	$4,084	4.63%
DENVER-AURORA-LAKEWOOD, CO (FHA\|USDA\|VA)	2	$500,000	$250,000	$3,011	3.49%
Beaver Dam, WI (FHA\|USDA\|VA)	4	$470,000	$117,500	$1,645	4.21%
Chicago-Naperville-Elgin, IL-IN-WI (FHA\|USDA\|VA)	2	$350,000	$175,000	$1,284	4.30%
WAUSAU-WESTON, WI (FHA\|USDA\|VA)	2	$300,000	$150,000	$1,569	3.68%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA\|USDA\|VA)	1	$265,000	$265,000	$1,701	3.60%
Manitowoc, WI (FHA\|USDA\|VA)	1	$205,000	$205,000	$1,709	3.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA\|USDA\|VA)	1	$105,000	$105,000	$0	5.70%

The Park Bank's top markets include Madison, Green Bay, Milwaukee, Janesville, and Edwards among others.

Their top states include:

Wisconsin (FHA|USDA|VA)

Colorado (FHA|USDA|VA)

Arizona (FHA|USDA|VA)

North Carolina (FHA|USDA|VA)

Nevada (FHA|USDA|VA)

Similar Lenders

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

AppleTree Credit Union
Similarity Rank: 8

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Empower Credit Union
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EDUCATORS CREDIT UNION
Similarity Rank: 264

Dane County Credit Union
Similarity Rank: 315

Heartland Credit Union (Madison)
Similarity Rank: 384

First Community Credit Union
Similarity Rank: 390

Kohler Credit Union
Similarity Rank: 418

The Park Bank
Similarity Rank: 425

Westbury Bank
Similarity Rank: 437

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	517	$168,865,000	$326,625	$2,041	3.85%

For 2019, The Park Bank's most frequently originated type of loan was Conventional, with 517 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Refi	210	$65,420,000	$311,524	$1,928	3.72%
Home Purchase	194	$75,970,000	$391,598	$2,336	4.10%
Cash Out Refi	111	$26,335,000	$237,252	$1,771	3.65%
Other	2	$1,140,000	$570,000	$2,159	4.15%

For 2019, The Park Bank's most frequently cited loan purpose was Refi, with 210 originations. The 2nd most popular reason was Home Purchase, with 194 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	304	$100,910,000	$331,941	$2,306	3.93%
15 Year	123	$31,415,000	$255,407	$1,674	3.24%
20 Year	36	$9,580,000	$266,111	$1,551	3.67%
Other	32	$10,880,000	$340,000	$524	5.07%
5 Year	11	$14,735,000	$1,339,545	$0	4.95%
10 Year	7	$1,035,000	$147,857	$1,642	3.45%
1 Year	4	$310,000	$77,500	$0	5.91%

For 2019, The Park Bank's most frequently cited loan duration was 30 Year, with 304 originations. The 2nd most popular length was 15 Year, with 123 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	437	$133,405,000	$305,275
$1k-2k	13	$3,925,000	$301,923
$2k-3k	4	$1,000,000	$250,000
$3k-4k	2	$1,090,000	$545,000
$5k+	1	$485,000	$485,000

The Park Bank's average total fees were $2,306, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 437 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
3-4%	320	$94,460,000	$295,188
4-5%	112	$44,620,000	$398,393
2.5-3%	50	$13,500,000	$270,000
5-6%	27	$15,455,000	$572,407
6-7%	7	$815,000	$116,429
7-8%	1	$15,000	$15,000

During 2019, The Park Bank's average interest rate for loans was 3.93%, while their most frequently originated rate bucket for loans was 3-4%, with 320 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	235	$64,895,000	$276,149	$1,906	3.77%
$100k-200k	152	$23,690,000	$155,855	$1,621	3.92%
$400k-600k	77	$35,645,000	$462,922	$2,088	3.63%
$100,000 or less	28	$1,870,000	$66,786	$5,088	4.48%
$600k-1MM	16	$10,980,000	$686,250	$2,701	4.01%
$1MM+	9	$31,785,000	$3,531,667	$3,932	4.41%

2019 saw The Park Bank place emphasis on $200k-400k loans with 235 originations, totaling $64,895,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	120	$32,750,000	$272,917	$1,854	3.69%
$150k-250k	104	$34,870,000	$335,288	$1,971	3.63%
$50k-75k	73	$13,075,000	$179,110	$1,766	3.89%
$75k-100k	67	$14,475,000	$216,045	$1,780	3.97%
$250k+	66	$40,920,000	$620,000	$2,165	3.71%
$50k or less	36	$4,300,000	$119,444	$3,938	4.20%

The Park Bank lent most frequently to those with incomes in the $100k-150k range, with 120 originations. The second most popular income band? $150k-250k, with 104 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	130	$39,700,000	$305,385	$1,764	3.67%
30-36%	115	$30,025,000	$261,087	$2,589	3.79%
<20%	62	$24,700,000	$398,387	$1,840	3.55%
40%	19	$4,385,000	$230,789	$1,761	4.14%
37%	17	$4,735,000	$278,529	$1,702	3.82%
41%	16	$4,180,000	$261,250	$2,116	3.88%
43%	15	$2,825,000	$188,333	$1,830	3.71%
36%	15	$3,575,000	$238,333	$1,832	3.67%
39%	14	$4,170,000	$297,857	$1,812	3.98%
42%	12	$2,930,000	$244,167	$2,144	3.75%
48%	10	$2,420,000	$242,000	$1,939	4.03%
38%	10	$2,660,000	$266,000	$1,889	3.65%
44%	9	$1,825,000	$202,778	$1,852	3.84%
>60%	8	$2,260,000	$282,500	$2,198	4.42%
50-60%	8	$8,290,000	$1,036,250	$3,154	4.66%
49%	7	$1,575,000	$225,000	$1,714	3.84%
45%	7	$2,025,000	$289,286	$2,355	4.21%
46%	6	$1,480,000	$246,667	$1,719	4.35%
47%	4	$760,000	$190,000	$1,871	3.77%

The Park Bank lent most frequently to those with DTI ratios of 20-30%, with 130 originations. The next most common DTI ratio? 30-36%, with 115 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	419	$126,875,000	$302,804	$2,049	3.80%
Not applicable	30	$23,580,000	$786,000	$0	4.66%
Not provided	25	$7,395,000	$295,800	$2,162	3.65%
Asian	23	$6,735,000	$292,826	$1,839	3.66%
Black	17	$3,695,000	$217,353	$2,017	4.19%
Asian Indian	1	$315,000	$315,000	$1,734	3.50%
American Indian	1	$205,000	$205,000	$1,739	3.88%
Other Asian	1	$65,000	$65,000	$1,164	3.73%

Approval Rates

Total approvals of all applications
95.58%

The Park 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
92.46%

The Park Bank has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	517	$168,865,000	$326,625

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	6	$17,210,000	$2,868,333
Single Family (1-4 Units):Site-Built	511	$151,655,000	$296,781

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	21	$2,785,000	$132,619	$1,513	3.40%
40-60%	74	$21,830,000	$295,000	$1,716	3.45%
60-80%	277	$95,925,000	$346,300	$2,138	3.87%
80-100%	133	$46,745,000	$351,466	$2,220	4.01%
Over 100%	1	$155,000	$155,000	$0	5.50%
Under 20%	10	$1,000,000	$100,000	$615	5.02%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
The Park Bank	104 South Main Street Verona, WI 53593	Full Service B&M	$69,156
The Park Bank	1815 Greenway Cross Madison, WI 53713	Full Service B&M	$138,518
The Park Bank	202 South Park Street Madison, WI 53715	Full Service B&M	$12,899
The Park Bank	2275 Deming Way Middleton, WI 53562	Full Service B&M	$55,316
The Park Bank	2401 South Park Street Madison, WI 53713	Full Service B&M	$68,020
The Park Bank	2679 Windsor Street Sun Prairie, WI 53590	Full Service B&M	$21,306
The Park Bank	2693 Research Drive Fitchburg, WI 53711	Full Service B&M	$35,280
The Park Bank	2802 Fish Hatchery Road Fitchburg, WI 53713	Full Service B&M	$108,004
The Park Bank	2910 Crossroads Drive Madison, WI 53718	Full Service B&M	$56,268
The Park Bank	33 East Main Street Madison, WI 53703	Full Service B&M	$135,093
The Park Bank	4050 University Avenue Madison, WI 53705	Full Service B&M	$26,211
The Park Bank	8001 Excelsior Drive Ste 100 Madison, WI 53717	Full Service B&M	$74,781

For 2019, The Park Bank had 12 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$44,248
Net interest income	$34,738
Total noninterest income	$5,955
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$1,097
Trading account gains and fees	$0
Additional Noninterest Income	$4,858
Pre-tax net operating income	$13,485
Securities gains (or losses, -)	$445
Income before extraordinary items	$10,000
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$10,000
Minority interest net income	$0
Net income	$10,000
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$9,648

The Park Bank's gross interest income from loans was $44,248,000.
The Park Bank's net interest income from loans was $34,738,000.
The Park Bank's fee based income from loans was $1,097,000.
The Park Bank's net income from loans was $10,000,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$9,510
Provision for credit losses	$600
Total noninterest expense	$26,608
Salaries and employee benefits	$15,163
Premises and equipment expense	$3,677
Additional noninterest expense	$7,768
Applicable income taxes	$3,930
Net charge-offs	$3
Cash dividends	$0

The Park Bank's interest expense for loans was $9,510,000.
The Park Bank's payroll and benefits expense were $15,163,000.
The Park Bank's property, plant and equipment expenses $3,677,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	1.0%
Real Estate loans	1.0%
Construction & Land Development loans	0.0%
Nonfarm, nonresidential loans	1.0%
Multifamily residential loans	7.0%
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	0.4%
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	$802,360
Deposits held in domestic offices	$802,360
Deposits by Individuals, partnerships, and corporations	$798,609
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$3,563
Deposits by Commercial banks and other depository institutions in U.S.	$188
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$180,157
Demand deposits	$59,287
Nontransaction accounts	$622,203
Money market deposit accounts (MMDAs)	$481,829
Other savings deposits (excluding MMDAs)	$62,117
Total time deposits	$78,258
Total time and savings deposits	$743,073
Noninterest-bearing deposits	$214,178
Interest-bearing deposits	$588,182
Retail deposits	$783,587
IRAs and Keogh plan accounts	$7,143
Brokered deposits	$5,000
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$1,064,967
Cash & Balances due from depository institutions	$33,009
Interest-bearing balances	$5,297
Total securities	$102,058
Federal funds sold & reverse repurchase	$309
Net loans and leases	$897,043
Loan and leases loss allowance	$8,715
Trading account assets	$0
Bank premises and fixed assets	$13,376
Other real estate owned	$0
Goodwill and other intangibles	$3,063
All other assets	$16,109

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$1,064,967
Total Liabilities	$951,710
Total deposits	$802,360
Interest-bearing deposits	$588,182
Deposits held in domestic offices	$802,360
% insured (estimated)	$69
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$145,666
Subordinated debt	$0
All other liabilities	$3,684

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$897,043
Loan and leases loss allowance	$8,715
Total loans and leases (domestic)	$905,758
All real estate loans	$769,892
Real estate loans in domestic offices	$769,892
Construction and development loans	$99,645
Residential 1-4 family construction	$4,879
Other construction, all land development and other land	$94,766
Loans secured by nonfarm nonresidential properties	$366,667
Nonfarm nonresidential secured by owner-occupied properties	$111,152
Commercial real estate & other non-farm, non-residential	$255,515
Multifamily residential real estate	$102,676
1-4 family residential loans	$200,529
Farmland loans	$375
Loans held in foreign offices	$0
Farm loans	$0
Commercial and industrial loans	$126,674
To non-U.S. addressees	$0
Loans to individuals	$6,443
Credit card loans	$4,961
Related Plans	$288
Consumer Auto Loans	$457
Other loans to individuals	$737
All other loans & leases	$2,749
Loans to foreign governments and official institutions	$0
Other loans	$1,382
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$12,604
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$1,295
Non 1-4 family restructured loans & leases	$35
Total loans and leases (foreign)	$0

The Park Bank had $897,043,000 of loans outstanding in 2019. $769,892,000 of loans were in real estate loans. $99,645,000 of loans were in development loans. $102,676,000 of loans were in multifamily mortgage loans. $200,529,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $4,961,000 of loans were in credit card loans. $457,000 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	177	$53,844	$304,203
Nonfarm, nonresidential loans - <$100k	18	$790	$43,889
Nonfarm, nonresidential loans - $100-250k	47	$7,054	$150,085
Nonfarm, nonresidential loans - $250k-1MM	112	$46,000	$410,714
Commercial & Industrial, US addressed loans - <$1MM	656	$48,570	$74,040
Commercial & Industrial, US addressed loans - <$100k	433	$8,405	$19,411
Commercial & Industrial, US addressed loans - $100-250k	112	$9,991	$89,205
Commercial & Industrial, US addressed loans - $250k-1MM	111	$30,174	$271,838
Farmland loans - <$1MM	4	$375	$93,750
Farmland loans - <$100k	2	$60	$30,000
Farmland loans - $100-250k	2	$315	$157,500