Associated Bank Na

Green Bay, WI 54301

LEI: ZF85QS7OXKPBG52R7N18

Tax ID: 39-1941673

2019 Data | 2018 Data


Overview

Associated Bank Na is a small mortgage company specializing in Home Purchase and Refi loans. Associated Bank Na has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets include Chicago, Milwaukee, Minneapolis, Green Bay, and St. Louis among others. They have an average approval rate for mortages when compared nationally -- and they have a below average pick rate when compared to the same sample of other lendors. Associated Bank Na is typically a low fee lendor.


Originations

14,670

Origination Dollar Volume (All Markets)

$3,748,340,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 14,188 $3,660,840,000 $258,024
FHA 217 $35,465,000 $163,433
VA 217 $45,265,000 $208,594
USDA 48 $6,770,000 $141,042

Conventional loans are assumed to be 20% downpayment and either fixed/adjustable rate. FHA loans start at 3.5% downpayment and are targeted towards first time homebuyers who will be owner-occupants. USDA loans target agrarian uses such as farms. VA loans are available to members of the military. FHA, USDA and VA loans are typically subsidized by the government so as to have more favorable terms for the borrower.

Loan Reason

Loan Reason Originations Total Value Average Loan
Home Purchase 6,820 $2,016,500,000 $295,674
Home Improvement 1,201 $56,575,000 $47,107
Other 1,316 $92,390,000 $70,205
Refi 3,617 $1,139,685,000 $315,091
Cash Out Refi 1,716 $443,190,000 $258,269

Home purchase and refinance loans are typically offered by even the most prudent banks. Cash out refi loans typically carry higher fees-- they allow homeowners to get loans against the equity (appreciated value) of their home, but can be used irresponsibly. Lendors with a high ratio of cash out refi loans may be exposed in the event of an economic downturn, and may be more aggressive with their fee schedules.

Top Markets

Market Originations Total Value Average Loan
CHICAGO-NAPERVILLE-EVANSTON, IL 1,867 $951,605,000 $509,697
MILWAUKEE-WAUKESHA, WI 2,420 $610,230,000 $252,161
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 1,342 $410,930,000 $306,207
Outside of Metro Areas 2,424 $357,470,000 $147,471
GREEN BAY, WI 1,230 $190,750,000 $155,081
ST. LOUIS, MO-IL 446 $171,910,000 $385,448
LAKE COUNTY-KENOSHA COUNTY, IL-WI 464 $149,390,000 $321,961
MADISON, WI 615 $108,695,000 $176,740
WARREN-TROY-FARMINGTON HILLS, MI 211 $88,435,000 $419,123
APPLETON, WI 509 $87,665,000 $172,230
OSHKOSH-NEENAH, WI 352 $58,470,000 $166,108
RACINE, WI 285 $44,195,000 $155,070
FOND DU LAC, WI 190 $41,470,000 $218,263
LA CROSSE-ONALASKA, WI-MN 214 $38,960,000 $182,056
JANESVILLE-BELOIT, WI 322 $36,680,000 $113,913
EAU CLAIRE, WI 285 $35,595,000 $124,895
WAUSAU-WESTON, WI 253 $31,395,000 $124,091
ELGIN, IL 117 $27,345,000 $233,718
SHEBOYGAN, WI 159 $23,905,000 $150,346
PEORIA, IL 174 $23,870,000 $137,184
INDIANAPOLIS-CARMEL-ANDERSON, IN 63 $22,525,000 $357,540
DETROIT-DEARBORN-LIVONIA, MI 42 $21,130,000 $503,095
COLUMBUS, OH 32 $21,000,000 $656,250
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 1 $20,405,000 $20,405,000
ROCHESTER, MN 102 $17,770,000 $174,216
ROCKFORD, IL 217 $17,415,000 $80,253
SPRINGFIELD, MO 53 $14,265,000 $269,151
KANSAS CITY, MO-KS 23 $13,205,000 $574,130
DULUTH, MN-WI 18 $12,000,000 $666,667
PHOENIX-MESA-CHANDLER, AZ 24 $8,050,000 $335,417
ANN ARBOR, MI 17 $7,705,000 $453,235
BLOOMINGTON, IL 3 $7,355,000 $2,451,667
DES MOINES-WEST DES MOINES, IA 14 $7,290,000 $520,714
BISMARCK, ND 2 $7,070,000 $3,535,000
RAPID CITY, SD 2 $5,370,000 $2,685,000
NAPLES-MARCO ISLAND, FL 9 $4,155,000 $461,667
IOWA CITY, IA 14 $4,120,000 $294,286
SIOUX FALLS, SD 1 $3,885,000 $3,885,000
GARY, IN 9 $3,725,000 $413,889
CINCINNATI, OH-KY-IN 6 $3,120,000 $520,000
GRAND FORKS, ND-MN 1 $2,755,000 $2,755,000
CAPE CORAL-FORT MYERS, FL 10 $2,690,000 $269,000
NILES, MI 4 $2,070,000 $517,500
FORT WAYNE, IN 11 $2,065,000 $187,727
CEDAR RAPIDS, IA 10 $1,730,000 $173,000
TAMPA-ST. PETERSBURG-CLEARWATER, FL 10 $1,550,000 $155,000
TOLEDO, OH 3 $1,315,000 $438,333
COLUMBIA, MO 2 $1,220,000 $610,000
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 3 $1,155,000 $385,000
AMES, IA 3 $1,125,000 $375,000
MANKATO, MN 3 $1,055,000 $351,667
LANSING-EAST LANSING, MI 5 $1,045,000 $209,000
FLINT, MI 2 $970,000 $485,000
GRAND RAPIDS-KENTWOOD, MI 3 $965,000 $321,667
CHAMPAIGN-URBANA, IL 3 $925,000 $308,333
LEXINGTON-FAYETTE, KY 1 $825,000 $825,000
DUBUQUE, IA 2 $820,000 $410,000
NORTH PORT-SARASOTA-BRADENTON, FL 5 $785,000 $157,000
TUCSON, AZ 3 $765,000 $255,000
LOUISVILLE/JEFFERSON COUNTY, KY-IN 2 $710,000 $355,000
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 2 $670,000 $335,000
CARBONDALE-MARION, IL 8 $670,000 $83,750
CLEVELAND-ELYRIA, OH 3 $645,000 $215,000
MONROE, MI 3 $645,000 $215,000
BELLINGHAM, WA 1 $625,000 $625,000
KALAMAZOO-PORTAGE, MI 2 $610,000 $305,000
COLUMBUS, IN 1 $605,000 $605,000
SOUTH BEND-MISHAWAKA, IN-MI 3 $595,000 $198,333
MICHIGAN CITY-LA PORTE, IN 1 $575,000 $575,000
THE VILLAGES, FL 2 $560,000 $280,000
LAWRENCE, KS 1 $555,000 $555,000
PUNTA GORDA, FL 3 $525,000 $175,000
PENSACOLA-FERRY PASS-BRENT, FL 1 $385,000 $385,000
SEBASTIAN-VERO BEACH, FL 1 $385,000 $385,000
ST. CLOUD, MN 3 $385,000 $128,333
WATERLOO-CEDAR FALLS, IA 1 $365,000 $365,000
HOMOSASSA SPRINGS, FL 1 $345,000 $345,000
JACKSONVILLE, FL 1 $335,000 $335,000
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 2 $290,000 $145,000
TALLAHASSEE, FL 1 $285,000 $285,000
ORLANDO-KISSIMMEE-SANFORD, FL 1 $255,000 $255,000
KANKAKEE, IL 2 $150,000 $75,000
DANVILLE, IL 1 $145,000 $145,000
JACKSON, MI 1 $125,000 $125,000
OCALA, FL 1 $115,000 $115,000
SPRINGFIELD, IL 1 $105,000 $105,000
LAKELAND-WINTER HAVEN, FL 1 $95,000 $95,000
JEFFERSON CITY, MO 1 $85,000 $85,000
KOKOMO, IN 1 $65,000 $65,000
YUMA, AZ 1 $45,000 $45,000
PANAMA CITY, FL 1 $35,000 $35,000

Lendors vary in competitiveness at the per market level-- meaning they may have better terms, deals or promotions based on the mortgaged property's location.

Interest Rate & Spreads

Loan Rate Originations Total Value Average Loan
<2.5% 3 $6,205,000 $2,068,333
2.5-3% 117 $61,155,000 $522,692
3-4% 7,026 $2,444,300,000 $347,894
4-5% 4,005 $1,014,875,000 $253,402
5-6% 1,960 $161,260,000 $82,276
6-7% 915 $44,185,000 $48,290
7-8% 402 $11,830,000 $29,428
Over 8% 242 $4,530,000 $18,719

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 4,443 $227,225,000 $51,142
$100k-200k 4,225 $614,245,000 $145,383
$200k-400k 3,088 $847,510,000 $274,453
$400k-600k 1,471 $740,335,000 $503,287
$600k-1000k 1,234 $909,990,000 $737,431
$Over $1MM 209 $409,035,000 $1,957,105

Different banks have different objectives. Some banks focus solely on high net worth individuals. Others focus on FHA loans for lower income applicants. Knowing what a bank specializes in allows better optimization given the applicant's financial situation.

LTV Distribution

Loan to Value Originations Total Value Average Loan
20-40% 1,553 $167,605,000 $107,923
40-60% 1,353 $307,735,000 $227,446
60-80% 4,171 $1,436,685,000 $344,446
80-100% 5,557 $1,755,485,000 $315,905
Over 100% 26 $5,190,000 $199,615
Under 20% 2,008 $74,870,000 $37,286

LTV, or loan-to-value, is the amount loaned relative to a home's value. Lower LTV lending implies a larger downpayment-- reducing risk to the lendor. FHA loans will nearly always have a higher LTV due to the lower downpayment requirements. Higher LTVs may also mean a bank is charging higher fees or interest rates to compensate for their risk exposure.

Applicant Income

Applicant Income Originations Total Value Average Loan
$100k-150k 2,702 $551,050,000 $203,942
$150k-250k 2,260 $866,750,000 $383,518
$50k-75k 2,800 $367,980,000 $131,421
$50k-or less 2,604 $283,010,000 $108,683
$75k-100k 1,938 $291,460,000 $150,392
$Over $250k 1,841 $1,129,015,000 $613,262

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 13,179 $3,156,525,000 $239,512
Not provided 579 $180,275,000 $311,356
Not applicable 52 $177,400,000 $3,411,538
Asian 418 $149,680,000 $358,086
Black 352 $64,860,000 $184,261
Asian Indian 19 $8,075,000 $425,000
American Indian 51 $6,605,000 $129,510
Other Asian 11 $2,755,000 $250,455
Japanese 2 $620,000 $310,000
Native Hawaiian 3 $525,000 $175,000
Other Pacific Islander 3 $515,000 $171,667
Filipino 1 $505,000 $505,000

Approval Rates

Total approvals of all applications
83.58%

A high approval rate means banks are more selective in who they market to or that they are loosey-goosey with who they lend to. Low approval rates may mean a lendor is more stringent in their lending standards.

Pick Rate

Approvals leading to origination
88.39%

A bank's pick rate is how often they are chosen by an applicant once approved. A high pick rate typically means the bank has some sort of advantage-- either the best terms (rates/fees), fastest closing time or even the best customer service. Banks with <75% pick rate may need further investigation as to why they are not more competitive.

Points and Fees

Points Originations Total Value Average Loan
NA 14,670 $3,748,340,000 $255,511

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 8,280 $2,157,760,000 $260,599
$1k-2k 1,862 $898,450,000 $482,519
$2k-3k 185 $61,595,000 $332,946
$3k-4k 239 $83,955,000 $351,276
$5k+ 170 $104,250,000 $613,235

Banks make money on their float/interest spread (fees charged to borrowers vs fees they pay for their capital), for servicing loans, as well as charging origination fees when a loan is disbursed. Modern low-cost efficient lendors can have fees totaling less than $500 for many mortgages-- as low as $250 in some cases. Average lendors will be in the $1k-2k range and high cost lendors will be even more. The costs incurred by the bank will be similar no matter the loan amount, so this is to be viewed as a profit center for most banks.

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
Multifamily:Site-Built 51 $177,185,000 $3,474,216
Single Family (1-4 Units):Manufactured 118 $10,580,000 $89,661
Single Family (1-4 Units):Site-Built 14,501 $3,560,575,000 $245,540