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5515 Monona Drive
Monona, WI 53716

Monona State Bank is headquartered in Monona and is the 50th largest bank in the state of Wisconsin. It is also the 1,742nd largest bank in the nation. It was established in 1991 and as of December of 2013, it had grown to 80 employees at 3 locations. Monona State Bank has a B+ health rating.

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Reviews (1)

Hiding Loan Payoff Fees?

Stay away. I have had two loans with this company, mainly because they were a referral and I appreciated the service they gave me. They didn't have the best rates, but not terrible either. After paying over $25k in interest over the past 6-7 years, I refinanced with someone else as Monona couldn't offer as good a deal and the service from my new lender seemed much better. Upon refinancing, they charged me a $25 fee. I inquired with them because my loan docs said there was no early payoff fee, but said the fee was for "preparation of my payoff amount," which they view as something different. After the amount I paid them, they apparently wanted more. After emailing the VP, she explained what it was for and I questioned it, she didn't respond. No more business for them and I hope everyone stays away.


Data for Q4 2013

Institution Health


Texas Ratio


The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 Monona State Bank had $10.57 million in non-current loans and owned real-estate with $52.37 million in equity and loan loss allowances on hand to cover it. This gives Monona State Bank a Texas Ratio of 20.18% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Monona State Bank decreased dramatically from 30.13% as of December 31, 2012 to 20.18% as of December 31, 2013, resulting in a positive change of 33.03%.This indicates that the balance sheet and financial strength for Monona State Bank has improved dramatically in recent periods.

Deposit Growth


In the past year, Monona State Bank has decreased its total deposits by -$1.06 million, resulting in -0.38% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Monona State Bank has shown is average.



Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Monona State Bank has $376.41 million in assets with $52.37 million in equity, resulting in a capitalization level of 13.91%, which is excellent.

Institution Statistics

FDIC Certificate #33458
Year Established1991
Primary RegulatorFDIC
Assets and Liabilities
Assets$376.41 million
Loans$313.25 million
Deposits$281.98 million
Equity Capital$46.00 million
Loan Loss Allowance$6.37 million
Unbacked Noncurrent Loans$7.82 million
Real Estate Owned$2.74 million
Historic Data - December 2012
Assets$361.57 million
Equity Capital$43.03 million
Loan Loss Allowance$6.58 million
Unbacked Noncurrent Loans$7.82 million
Real Estate Owned$2.21 million
Profit Margin - Quarterly
Net Interest Margin4.02%
Return on Assets1%
Return on Equity8.16%
Interest Income$15.66 million

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Monona State Bank Savings Account Rates

0.08%$25k-WealthBuilder Savings
0.05%--Junior Investment Savings
0.03%--True Savings

Monona State Bank Money Market Rates

0.32%$10k-True North Money Market Relationship Account
0.08%$2,500-True Money Market
0.03%$50-Money Market IRA
0.03%$50-Money Market Roth IRA

Monona State Bank Checking Account Rates

0.03%--True Rewards Checking
0.02%--True Advantage Checking

Monona State Bank CD Rates

2.00%$1k-5 Year CD
2.00%$1k-7 Year CD
0.75%$1k-4 Year CD
0.59%$1k-3 Year CD
0.55%$2,500-11 Month CD Special
0.40%$1k-2 Year CD
0.25%$1k-18 Month CD
0.24%$1k-1 Year CD
0.15%$1k-6 Month CD
0.10%$1k-90 Day CD

Monona State Bank IRA Rates

1.50%$1k-5 Year IRA (Traditional,Roth)
0.75%$1k-4 Year IRA (Traditional,Roth)
0.59%$1k-3 Year IRA (Traditional,Roth)
0.40%$1k-2 Year IRA (Traditional,Roth)
0.24%$1k-1 Year IRA (Traditional,Roth)

Monona State Bank Locations
Cottage Grove Branch341 West Cottage Grove RoadCottage Grove, WI 53527
Monona State Bank5515 Monona DriveMonona, WI 53716
Bridge Road Branch6430 Bridge RoadMonona, WI 53716