Monona Bank

Overview / Commentary
5515 Monona Drive
Monona, WI 53716

Monona Bank is headquartered in Monona and is the 26th largest bank in the state of Wisconsin. It is also the 874th largest bank in the nation. It was established in 1991 and as of March of 2020, it had grown to 150 employees at 9 locations. Monona Bank has an A+ health rating.

Reviews (2)

Customer Service

I have been a customer here since the very beginning. Service has been excellent, fees reasonable, friendly and going out of way to be helpful and to explain options. Couldn't be happier, thank you everyone at Monona Bank!

Hiding Loan Payoff Fees?

Posted by: |

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.


Health Grade Components

FDIC Certificate #33458
Year Established1991
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.85%
Return on Equity - YTD7.46%
Annual Interest Income$9.5MM
Assets and Liabilities
AssetsQ1 2020vs Q1 2019$947.1MM$896.1MM
LoansQ1 2020vs Q1 2019$785.5MM$745.4MM
DepositsQ1 2020vs Q1 2019$772.6MM$710.8MM
Equity CapitalQ1 2020vs Q1 2019$110.0MM$102.9MM
Loan Loss AllowanceQ1 2020vs Q1 2019$10.1MM$9.4MM
Unbacked Noncurrent LoansQ1 2020vs Q1 2019$2.3MM$2.9MM
Real Estate OwnedQ1 2020vs Q1 2019$0$182.00K

Rates for Monona Bank are currently being reviewed.


Monona 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
Atwood Avenue Madison Branch1965 Atwood AvenueMadison, WI 53704
Belleville Branch27 W Main StBelleville, WI 53508
Brooklyn Branch229 Douglas DriveBrooklyn, WI 53521
Cross Plains Wi Branch2615 Westview CourtCross Plains, WI 53528
Middleton Br3207 Parmenter StreetMiddleton, WI 53562
Sauk City Branch603 Phillips BoulevardSauk City, WI 53583

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