The Park Bank Mortgage Rates, Fees & Info

Madison, WI

LEI: YQI2CPR3Z44KAR0HG822

Tax ID: 39-1076859

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

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Mortgage Data

Bank 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, Milwaukee, Janesville, Baraboo, and Watertown among others. We have data for 26 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 a below 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.28% 3/28/24
30 Year Conventional Refi 6.26% 3/28/24
30 Year Cash-out Refi 6.45% 3/28/24
15 Year Conventional Purchase 5.61% 3/28/24
15 Year Conventional Refi 5.76% 3/28/24
15 Year Cash-out Refi 5.76% 3/28/24
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






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

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

982

Origination Dollar Volume (All Markets)

$358,500,000

Employee count

156 Show all (5) 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) 847 $299,905,000 $354,079 $1,821 3.06%
Outside of Metro Areas 25 $32,095,000 $1,283,800 $2,043 2.79%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 30 $6,510,000 $217,000 $1,661 2.92%
JANESVILLE-BELOIT, WI (FHA|USDA|VA) 27 $5,575,000 $206,481 $2,019 3.14%
Baraboo, WI (FHA|USDA|VA) 12 $3,500,000 $291,667 $1,870 3.34%
Watertown-Fort Atkinson, WI (FHA|USDA|VA) 10 $2,610,000 $261,000 $1,652 2.96%
Beaver Dam, WI (FHA|USDA|VA) 7 $1,835,000 $262,143 $1,873 2.98%
Bozeman, MT (FHA|USDA|VA) 1 $755,000 $755,000 $2,596 3.50%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $640,000 $320,000 $2,779 3.63%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 2 $580,000 $290,000 $1,961 3.88%
DULUTH, MN-WI (FHA|USDA|VA) 1 $515,000 $515,000 $2,731 2.75%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $475,000 $475,000 $1,886 3.25%
TUCSON, AZ (FHA|USDA|VA) 2 $460,000 $230,000 $2,772 3.00%
GREEN BAY, WI (FHA|USDA|VA) 2 $360,000 $180,000 $1,511 3.13%
Shawano, WI (FHA|USDA|VA) 1 $355,000 $355,000 $1,855 2.88%
Whitewater, WI (FHA|USDA|VA) 2 $350,000 $175,000 $1,826 2.38%
Edwards, CO (FHA|USDA|VA) 1 $325,000 $325,000 $2,097 3.00%
Iron Mountain, MI-WI (FHA|USDA|VA) 1 $265,000 $265,000 $1,899 3.00%
Stevens Point, WI (FHA|USDA|VA) 1 $245,000 $245,000 $1,311 2.75%
APPLETON, WI (FHA|USDA|VA) 1 $235,000 $235,000 $2,402 2.63%
WAUSAU-WESTON, WI (FHA|USDA|VA) 1 $225,000 $225,000 $0 5.00%
LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 1 $195,000 $195,000 $1,681 2.88%
SHEBOYGAN, WI (FHA|USDA|VA) 1 $185,000 $185,000 $1,767 2.75%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $185,000 $185,000 $1,689 3.00%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $65,000 $65,000 $1,780 3.00%
FOND DU LAC, WI (FHA|USDA|VA) 1 $55,000 $55,000 $0 2.88%
The Park Bank's top markets include Madison, Milwaukee, Janesville, Baraboo, and Watertown among others.

Their top states include:
  • Wisconsin (FHA|USDA|VA)
  • (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Montana (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 982 $358,500,000 $365,071 $1,833 3.06%

    For 2020, The Park Bank's most frequently originated type of loan was Conventional, with 982 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 527 $153,035,000 $290,389 $1,525 3.02%
    Home Purchase 233 $143,365,000 $615,300 $2,559 3.18%
    Cash Out Refi 214 $59,880,000 $279,813 $1,897 3.01%
    Other 6 $2,130,000 $355,000 $1,971 2.90%
    Home Improvement 2 $90,000 $45,000 $0 4.85%

    For 2020, The Park Bank's most frequently cited loan purpose was Refi, with 527 originations. The 2nd most popular reason was Home Purchase, with 233 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 526 $165,330,000 $314,316 $1,997 3.17%
    15 Year 290 $71,480,000 $246,483 $1,686 2.60%
    20 Year 78 $18,910,000 $242,436 $1,544 3.11%
    Other 29 $40,605,000 $1,400,172 $389 4.41%
    5 Year 24 $9,420,000 $392,500 $0 4.28%
    10 Year 23 $25,285,000 $1,099,348 $1,470 2.41%
    1 Year 9 $1,665,000 $185,000 $0 3.97%
    3 Year 3 $25,805,000 $8,601,667 $0 4.43%

    For 2020, The Park Bank's most frequently cited loan duration was 30 Year, with 526 originations. The 2nd most popular length was 15 Year, with 290 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 795 $219,515,000 $276,119
    $1k-2k 83 $29,085,000 $350,422
    $2k-3k 7 $2,815,000 $402,143
    $4k-5k 3 $2,905,000 $968,333
    $5k+ 1 $745,000 $745,000

    The Park Bank's average total fees were $1,997, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 795 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 373 $141,125,000 $378,351
    3-4% 357 $155,265,000 $434,916
    <2.5% 203 $49,745,000 $245,049
    4-5% 29 $10,515,000 $362,586
    5-6% 19 $1,795,000 $94,474
    6-7% 1 $55,000 $55,000

    During 2020, The Park Bank's average interest rate for loans was 3.17%, while their most frequently originated rate bucket for loans was 2.5-3%, with 373 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 456 $128,980,000 $282,851 $1,830 3.00%
    $100k-200k 288 $43,990,000 $152,743 $1,580 3.06%
    $400k-600k 151 $72,035,000 $477,053 $2,119 3.00%
    $100,000 or less 52 $3,750,000 $72,115 $1,254 3.48%
    $600k-1MM 20 $14,880,000 $744,000 $3,470 3.43%
    $1MM+ 15 $94,865,000 $6,324,333 $4,299 3.45%

    2020 saw The Park Bank place emphasis on $200k-400k loans with 456 originations, totaling $128,980,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 231 $76,705,000 $332,056 $1,847 2.91%
    $100k-150k 220 $60,480,000 $274,909 $1,730 3.01%
    $75k-100k 135 $29,205,000 $216,333 $1,763 3.03%
    $250k+ 133 $57,575,000 $432,895 $2,215 2.93%
    $50k-75k 123 $21,315,000 $173,293 $1,775 3.05%
    $50k or less 53 $8,185,000 $154,434 $1,561 3.41%

    The Park Bank lent most frequently to those with incomes in the $150k-250k range, with 231 originations. The second most popular income band? $100k-150k, with 220 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 304 $84,490,000 $277,928 $1,801 2.94%
    <20% 180 $51,070,000 $283,722 $1,694 2.84%
    30-36% 151 $40,385,000 $267,450 $1,778 3.09%
    40% 38 $9,890,000 $260,263 $1,891 2.94%
    36% 32 $10,150,000 $317,188 $2,124 3.18%
    38% 26 $6,950,000 $267,308 $1,879 2.96%
    37% 26 $7,140,000 $274,615 $2,083 3.01%
    44% 24 $9,210,000 $383,750 $2,357 3.28%
    39% 20 $5,840,000 $292,000 $1,950 3.04%
    41% 20 $5,070,000 $253,500 $1,558 3.38%
    42% 16 $3,370,000 $210,625 $1,869 2.90%
    46% 15 $4,395,000 $293,000 $1,941 3.15%
    43% 15 $3,605,000 $240,333 $1,711 3.23%
    48% 14 $3,970,000 $283,571 $2,064 3.06%
    49% 12 $3,070,000 $255,833 $1,919 2.83%
    47% 11 $3,555,000 $323,182 $1,841 3.32%
    45% 10 $3,030,000 $303,000 $1,924 2.80%
    50-60% 7 $3,865,000 $552,143 $3,699 3.92%
    >60% 4 $2,050,000 $512,500 $2,090 3.16%

    The Park Bank lent most frequently to those with DTI ratios of 20-30%, with 304 originations. The next most common DTI ratio? <20%, with 180 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 816 $230,510,000 $282,488 $1,827 3.01%
    Not applicable 49 $96,215,000 $1,963,571 $0 3.99%
    Not provided 48 $12,200,000 $254,167 $1,660 3.15%
    Asian 40 $11,400,000 $285,000 $2,022 2.83%
    Black 21 $6,005,000 $285,952 $2,134 3.22%
    Asian Indian 3 $745,000 $248,333 $1,801 2.58%
    American Indian 2 $590,000 $295,000 $1,268 3.00%
    Other Asian 1 $395,000 $395,000 $1,285 2.38%
    Filipino 1 $265,000 $265,000 $0 3.38%
    Chinese 1 $175,000 $175,000 $1,236 2.88%

    Approval Rates

    Total approvals of all applications
    96.13%

    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
    84.93%

    The Park Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 982 $358,500,000 $365,071

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 15 $88,945,000 $5,929,667
    Single Family (1-4 Units):Site-Built 967 $269,555,000 $278,754

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 66 $12,230,000 $185,303 $1,664 2.78%
    40-60% 213 $56,615,000 $265,798 $1,652 2.82%
    60-80% 518 $203,420,000 $392,703 $1,796 3.09%
    80-100% 168 $84,890,000 $505,298 $2,355 3.26%
    Under 20% 17 $1,345,000 $79,118 $754 4.15%

    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 $90,341
    The Park Bank 110 North Grand Ave, Suite 108 Sun Prairie, WI 53590 Full Service B&M $89,241
    The Park Bank 1815 Greenway Cross Madison, WI 53713 Full Service B&M $209,638
    The Park Bank 202 South Park Street Madison, WI 53715 Full Service B&M $12,597
    The Park Bank 2275 Deming Way Middleton, WI 53562 Full Service B&M $76,995
    The Park Bank 2401 South Park Street Madison, WI 53713 Full Service B&M $85,621
    The Park Bank 2693 Research Drive Fitchburg, WI 53711 Full Service B&M $38,226
    The Park Bank 33 East Main Street Madison, WI 53703 Full Service B&M $164,063
    The Park Bank 4050 University Avenue Madison, WI 53705 Full Service B&M $33,797
    The Park Bank 8001 Excelsior Drive Ste 100 Madison, WI 53717 Full Service B&M $107,363

    For 2020, The Park Bank had 10 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $45,452
    Net interest income $40,185
    Total noninterest income $10,050
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $868
    Trading account gains and fees $0
    Additional Noninterest Income $9,182
    Pre-tax net operating income $15,792
    Securities gains (or losses, -) $623
    Income before extraordinary items $11,860
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $11,860
    Minority interest net income $0
    Net income $11,860
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $11,367

    The Park Bank's gross interest income from loans was $45,452,000.
    The Park Bank's net interest income from loans was $40,185,000.
    The Park Bank's fee based income from loans was $868,000.
    The Park Bank's net income from loans was $11,860,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $5,267
    Provision for credit losses $4,975
    Total noninterest expense $29,468
    Salaries and employee benefits $17,260
    Premises and equipment expense $3,582
    Additional noninterest expense $8,626
    Applicable income taxes $4,555
    Net charge-offs $-747
    Cash dividends $4,000

    The Park Bank's interest expense for loans was $5,267,000.
    The Park Bank's payroll and benefits expense were $17,260,000.
    The Park Bank's property, plant and equipment expenses $3,582,000.

    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 1.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.3%
    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 $1,001,807
    Deposits held in domestic offices $1,001,807
    Deposits by Individuals, partnerships, and corporations $996,585
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $5,222
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $287,492
    Demand deposits $287,492
    Nontransaction accounts $714,315
    Money market deposit accounts (MMDAs) $578,024
    Other savings deposits (excluding MMDAs) $77,536
    Total time deposits $58,756
    Total time and savings deposits $714,315
    Noninterest-bearing deposits $306,976
    Interest-bearing deposits $694,831
    Retail deposits $990,759
    IRAs and Keogh plan accounts $6,230
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,249,974
    Cash & Balances due from depository institutions $138,470
    Interest-bearing balances $105,660
    Total securities $88,331
    Federal funds sold & reverse repurchase $1,239
    Net loans and leases $979,377
    Loan and leases loss allowance $14,437
    Trading account assets $0
    Bank premises and fixed assets $12,253
    Other real estate owned $0
    Goodwill and other intangibles $2,504
    All other assets $27,800

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,249,974
    Total Liabilities $1,128,122
    Total deposits $1,001,807
    Interest-bearing deposits $694,831
    Deposits held in domestic offices $1,001,807
    % insured (estimated) $63
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $119,551
    Subordinated debt $0
    All other liabilities $6,764

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $979,377
    Loan and leases loss allowance $14,437
    Total loans and leases (domestic) $993,814
    All real estate loans $789,026
    Real estate loans in domestic offices $789,026
    Construction and development loans $94,867
    Residential 1-4 family construction $10,394
    Other construction, all land development and other land $84,473
    Loans secured by nonfarm nonresidential properties $423,861
    Nonfarm nonresidential secured by owner-occupied properties $121,088
    Commercial real estate & other non-farm, non-residential $302,773
    Multifamily residential real estate $95,114
    1-4 family residential loans $174,853
    Farmland loans $331
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $194,594
    To non-U.S. addressees $0
    Loans to individuals $5,562
    Credit card loans $4,406
    Related Plans $323
    Consumer Auto Loans $496
    Other loans to individuals $337
    All other loans & leases $6,355
    Loans to foreign governments and official institutions $0
    Other loans $4,484
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $12,402
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $753
    Non 1-4 family restructured loans & leases $45
    Total loans and leases (foreign) $0

    The Park Bank had $979,377,000 of loans outstanding in 2020. $789,026,000 of loans were in real estate loans. $94,867,000 of loans were in development loans. $95,114,000 of loans were in multifamily mortgage loans. $174,853,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $4,406,000 of loans were in credit card loans. $496,000 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 190 $58,686 $308,874
    Nonfarm, nonresidential loans - <$100k 18 $735 $40,833
    Nonfarm, nonresidential loans - $100-250k 43 $6,080 $141,395
    Nonfarm, nonresidential loans - $250k-1MM 129 $51,871 $402,101
    Commercial & Industrial, US addressed loans - <$1MM 996 $91,279 $91,646
    Commercial & Industrial, US addressed loans - <$100k 633 $16,423 $25,945
    Commercial & Industrial, US addressed loans - $100-250k 204 $23,558 $115,480
    Commercial & Industrial, US addressed loans - $250k-1MM 159 $51,298 $322,629
    Farmland loans - <$1MM 3 $331 $110,333
    Farmland loans - <$100k 1 $33 $33,000
    Farmland loans - $100-250k 2 $298 $149,000