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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • 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 Steamboat Springs among others. We have data for 21 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% 12/16/24
    30 Year Conventional Refi 6.26% 12/16/24
    30 Year Cash-out Refi 6.45% 12/16/24
    15 Year Conventional Purchase 5.61% 12/16/24
    15 Year Conventional Refi 5.76% 12/16/24
    15 Year Cash-out Refi 5.76% 12/16/24
    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

    877

    Origination Dollar Volume (All Markets)

    $429,895,000

    Employee count

    164 Show all (8) 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) 754 $394,410,000 $523,090 $1,861 2.82%
    Outside of Metro Areas 24 $7,120,000 $296,667 $1,719 2.83%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 19 $6,495,000 $341,842 $1,730 2.91%
    JANESVILLE-BELOIT, WI (FHA|USDA|VA) 29 $4,805,000 $165,690 $1,770 2.98%
    Baraboo, WI (FHA|USDA|VA) 14 $4,670,000 $333,571 $2,118 2.83%
    Steamboat Springs, CO (FHA|USDA|VA) 2 $3,410,000 $1,705,000 $3,870 2.81%
    Watertown-Fort Atkinson, WI (FHA|USDA|VA) 11 $2,695,000 $245,000 $1,868 2.84%
    Whitewater, WI (FHA|USDA|VA) 5 $1,585,000 $317,000 $1,839 2.85%
    Beaver Dam, WI (FHA|USDA|VA) 4 $960,000 $240,000 $1,819 3.28%
    DUBUQUE, IA (FHA|USDA|VA) 1 $645,000 $645,000 $2,281 3.13%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $560,000 $280,000 $2,868 3.66%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $545,000 $545,000 $3,201 2.88%
    Manitowoc, WI (FHA|USDA|VA) 3 $535,000 $178,333 $4,189 2.92%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $375,000 $375,000 $1,940 2.25%
    EAU CLAIRE, WI (FHA|USDA|VA) 1 $265,000 $265,000 $2,778 3.38%
    APPLETON, WI (FHA|USDA|VA) 1 $195,000 $195,000 $1,862 2.75%
    Shawano, WI (FHA|USDA|VA) 1 $155,000 $155,000 $2,121 2.50%
    Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) 1 $135,000 $135,000 $2,236 2.75%
    Marinette, WI-MI (FHA|USDA|VA) 1 $115,000 $115,000 $2,562 3.00%
    RACINE, WI (FHA|USDA|VA) 1 $115,000 $115,000 $1,523 2.63%
    Stevens Point, WI (FHA|USDA|VA) 1 $105,000 $105,000 $0 3.38%
    The Park Bank's top markets include Madison, Milwaukee, Janesville, Baraboo, and Steamboat Springs among others.

    Their top states include:
  • Wisconsin (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Arizona (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.

    SENB Bank
    Similarity Rank: 396
    DMB Community Bank
    Similarity Rank: 400
    Dane County Credit Union
    Similarity Rank: 531
    NORTHWESTERN MUTUAL
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    Monona Bank
    Similarity Rank: 793
    Starion Bank
    Similarity Rank: 900
    Badger Bank
    Similarity Rank: 913
    Mound City Bank
    Similarity Rank: 966
    Westbury Bank
    Similarity Rank: 1007
    Bank of Sun Prairie
    Similarity Rank: 1056

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 877 $429,895,000 $490,188 $1,874 2.84%

    For 2021, The Park Bank's most frequently originated type of loan was Conventional, with 877 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 403 $132,015,000 $327,581 $1,542 2.66%
    Home Purchase 306 $246,690,000 $806,176 $2,450 3.11%
    Cash Out Refi 159 $48,595,000 $305,629 $1,791 2.76%
    Other 8 $2,560,000 $320,000 $2,023 2.53%
    Home Improvement 1 $35,000 $35,000 $0 3.80%

    For 2021, The Park Bank's most frequently cited loan purpose was Refi, with 403 originations. The 2nd most popular reason was Home Purchase, with 306 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 503 $177,835,000 $353,549 $2,042 2.95%
    15 Year 194 $47,610,000 $245,412 $1,607 2.25%
    20 Year 56 $13,660,000 $243,929 $1,548 2.66%
    5 Year 41 $39,205,000 $956,220 $0 3.82%
    Other 37 $135,785,000 $3,669,865 $0 3.56%
    10 Year 31 $13,165,000 $424,677 $1,437 2.18%
    1 Year 14 $2,290,000 $163,571 $0 4.24%
    3 Year 1 $345,000 $345,000 $0 6.25%

    For 2021, The Park Bank's most frequently cited loan duration was 30 Year, with 503 originations. The 2nd most popular length was 15 Year, with 194 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 685 $214,735,000 $313,482
    $1k-2k 53 $18,815,000 $355,000
    $2k-3k 5 $1,575,000 $315,000
    $3k-4k 2 $660,000 $330,000
    $4k-5k 2 $1,020,000 $510,000
    $5k+ 1 $345,000 $345,000

    The Park Bank's average total fees were $2,042, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 685 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 438 $249,510,000 $569,658
    <2.5% 235 $56,995,000 $242,532
    3-4% 180 $118,980,000 $661,000
    4-5% 23 $4,065,000 $176,739
    6-7% 1 $345,000 $345,000

    During 2021, The Park Bank's average interest rate for loans was 2.95%, while their most frequently originated rate bucket for loans was 2.5-3%, with 438 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 408 $113,980,000 $279,363 $1,933 2.87%
    $100k-200k 230 $34,970,000 $152,043 $1,513 2.75%
    $400k-600k 133 $64,695,000 $486,429 $2,019 2.89%
    $600k-1MM 43 $32,645,000 $759,186 $2,667 3.01%
    $100,000 or less 40 $3,190,000 $79,750 $1,448 2.46%
    $1MM+ 23 $180,415,000 $7,844,130 $2,943 3.09%

    2021 saw The Park Bank place emphasis on $200k-400k loans with 408 originations, totaling $113,980,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 184 $52,080,000 $283,043 $1,763 2.76%
    $150k-250k 172 $60,150,000 $349,709 $1,885 2.73%
    $250k+ 128 $67,910,000 $530,547 $2,169 2.80%
    $50k-75k 113 $20,695,000 $183,142 $1,789 2.68%
    $75k-100k 113 $28,835,000 $255,177 $1,930 2.75%
    $50k or less 57 $9,565,000 $167,807 $1,683 2.72%

    The Park Bank lent most frequently to those with incomes in the $100k-150k range, with 184 originations. The second most popular income band? $150k-250k, with 172 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 250 $76,700,000 $306,800 $1,793 2.69%
    30-36% 151 $44,525,000 $294,868 $1,968 2.80%
    <20% 133 $37,655,000 $283,120 $1,653 2.54%
    37% 23 $6,835,000 $297,174 $2,062 2.70%
    39% 22 $8,050,000 $365,909 $1,910 2.69%
    38% 21 $6,975,000 $332,143 $1,921 2.76%
    44% 18 $5,330,000 $296,111 $1,960 2.83%
    42% 17 $4,965,000 $292,059 $1,830 2.78%
    40% 17 $4,745,000 $279,118 $2,094 2.89%
    48% 17 $4,335,000 $255,000 $1,838 2.85%
    46% 15 $5,275,000 $351,667 $2,277 2.64%
    36% 14 $7,270,000 $519,286 $2,201 2.88%
    43% 14 $4,860,000 $347,143 $2,081 2.66%
    41% 14 $4,260,000 $304,286 $1,862 2.85%
    47% 13 $5,685,000 $437,308 $2,143 2.98%
    49% 12 $3,340,000 $278,333 $1,789 2.82%
    >60% 11 $4,345,000 $395,000 $2,040 2.85%
    45% 11 $2,865,000 $260,455 $1,982 2.84%
    50-60% 10 $6,030,000 $603,000 $2,519 2.94%

    The Park Bank lent most frequently to those with DTI ratios of 20-30%, with 250 originations. The next most common DTI ratio? 30-36%, with 151 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 675 $211,775,000 $313,741 $1,851 2.73%
    Not applicable 77 $182,305,000 $2,367,597 $0 3.84%
    Not provided 65 $17,225,000 $265,000 $1,928 2.79%
    Asian 28 $7,870,000 $281,071 $1,978 2.76%
    Black 22 $7,520,000 $341,818 $2,313 3.05%
    Asian Indian 5 $1,775,000 $355,000 $1,964 2.58%
    Chinese 1 $395,000 $395,000 $1,688 2.88%
    American Indian 1 $305,000 $305,000 $3,093 3.13%
    Korean 1 $275,000 $275,000 $2,006 2.25%
    Filipino 1 $235,000 $235,000 $1,338 2.75%
    Other Asian 1 $215,000 $215,000 $1,780 2.75%

    Approval Rates

    Total approvals of all applications
    94.30%

    The Park Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    90.65%

    The Park Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 877 $429,895,000 $490,188

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    877 $429,895,000 $490,188

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 72 $13,300,000 $184,722 $1,586 2.54%
    40-60% 213 $53,705,000 $252,136 $1,616 2.58%
    60-80% 407 $237,265,000 $582,961 $1,854 2.96%
    80-100% 174 $124,470,000 $715,345 $2,390 3.02%
    Under 20% 11 $1,155,000 $105,000 $1,503 2.22%

    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 $100,481
    The Park Bank 110 North Grand Ave, Suite 108 Sun Prairie, WI 53590 Full Service B&M $108,068
    The Park Bank 1815 Greenway Cross Madison, WI 53713 Full Service B&M $223,131
    The Park Bank 2275 Deming Way Middleton, WI 53562 Full Service B&M $102,256
    The Park Bank 2401 South Park Street Madison, WI 53713 Full Service B&M $99,006
    The Park Bank 2693 Research Drive Fitchburg, WI 53711 Full Service B&M $47,611
    The Park Bank 2802 Fish Hatchery Road Fitchburg, WI 53713 Full Service B&M $0
    The Park Bank 33 East Main Street Madison, WI 53703 Full Service B&M $209,858
    The Park Bank 4050 University Avenue Madison, WI 53705 Full Service B&M $44,059
    The Park Bank 8001 Excelsior Drive Ste 100 Madison, WI 53717 Full Service B&M $123,132

    For 2021, The Park Bank had 10 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $43,901
    Net interest income $42,183
    Total noninterest income $10,229
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $863
    Trading account gains and fees $0
    Additional Noninterest Income $9,366
    Pre-tax net operating income $21,681
    Securities gains (or losses, -) $55
    Income before extraordinary items $15,665
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $15,665
    Minority interest net income $0
    Net income $15,665
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $15,621

    The Park Bank's gross interest income from loans was $43,901,000.
    The Park Bank's net interest income from loans was $42,183,000.
    The Park Bank's fee based income from loans was $863,000.
    The Park Bank's net income from loans was $15,665,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,718
    Provision for credit losses $0
    Total noninterest expense $30,731
    Salaries and employee benefits $18,130
    Premises and equipment expense $3,713
    Additional noninterest expense $8,888
    Applicable income taxes $6,071
    Net charge-offs $64
    Cash dividends $0

    The Park Bank's interest expense for loans was $1,718,000.
    The Park Bank's payroll and benefits expense were $18,130,000.
    The Park Bank's property, plant and equipment expenses $3,713,000.

    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 0.2%
    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 $1,139,158
    Deposits held in domestic offices $1,139,158
    Deposits by Individuals, partnerships, and corporations $1,135,890
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $3,268
    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 $648,162
    Demand deposits $648,162
    Nontransaction accounts $490,996
    Money market deposit accounts (MMDAs) $343,604
    Other savings deposits (excluding MMDAs) $96,421
    Total time deposits $50,971
    Total time and savings deposits $490,996
    Noninterest-bearing deposits $363,923
    Interest-bearing deposits $775,235
    Retail deposits $1,127,571
    IRAs and Keogh plan accounts $5,749
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,346,742
    Cash & Balances due from depository institutions $146,842
    Interest-bearing balances $132,397
    Total securities $116,516
    Federal funds sold & reverse repurchase $102
    Net loans and leases $1,041,557
    Loan and leases loss allowance $14,373
    Trading account assets $0
    Bank premises and fixed assets $13,410
    Other real estate owned $1,494
    Goodwill and other intangibles $4,112
    All other assets $22,709

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,346,742
    Total Liabilities $1,211,172
    Total deposits $1,139,158
    Interest-bearing deposits $775,235
    Deposits held in domestic offices $1,139,158
    % insured (estimated) $63
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $65,432
    Subordinated debt $0
    All other liabilities $6,582

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,041,557
    Loan and leases loss allowance $14,373
    Total loans and leases (domestic) $1,055,930
    All real estate loans $874,086
    Real estate loans in domestic offices $874,086
    Construction and development loans $87,157
    Residential 1-4 family construction $9,259
    Other construction, all land development and other land $77,898
    Loans secured by nonfarm nonresidential properties $471,142
    Nonfarm nonresidential secured by owner-occupied properties $136,854
    Commercial real estate & other non-farm, non-residential $334,288
    Multifamily residential real estate $126,943
    1-4 family residential loans $188,362
    Farmland loans $482
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $167,908
    To non-U.S. addressees $0
    Loans to individuals $6,254
    Credit card loans $4,613
    Related Plans $320
    Consumer Auto Loans $728
    Other loans to individuals $593
    All other loans & leases $8,593
    Loans to foreign governments and official institutions $0
    Other loans $7,289
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $5,059
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $3,052
    Non 1-4 family restructured loans & leases $2,007
    Total loans and leases (foreign) $0

    The Park Bank had $1,041,557,000 of loans outstanding in 2021. $874,086,000 of loans were in real estate loans. $87,157,000 of loans were in development loans. $126,943,000 of loans were in multifamily mortgage loans. $188,362,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $4,613,000 of loans were in credit card loans. $728,000 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 193 $62,484 $323,751
    Nonfarm, nonresidential loans - <$100k 15 $532 $35,467
    Nonfarm, nonresidential loans - $100-250k 42 $5,716 $136,095
    Nonfarm, nonresidential loans - $250k-1MM 136 $56,236 $413,500
    Commercial & Industrial, US addressed loans - <$1MM 809 $60,031 $74,204
    Commercial & Industrial, US addressed loans - <$100k 539 $14,234 $26,408
    Commercial & Industrial, US addressed loans - $100-250k 133 $12,506 $94,030
    Commercial & Industrial, US addressed loans - $250k-1MM 137 $33,291 $243,000
    Farmland loans - <$1MM 3 $482 $160,667
    Farmland loans - $100-250k 3 $482 $160,667