Monona Bank is headquartered in Monona and is the 28th largest bank in the state of Wisconsin. It is also the 911th largest bank in the nation. It was established in 1991 and as of March of 2021, it had grown to 153 employees at 9 locations. Monona Bank has an A+ health rating.
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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?
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 as of Q1 2021
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 33458 |
| Year Established | 1991 |
| Employees | 153 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.12% |
| Return on Equity - YTD | 10.35% |
| Annual Interest Income | $9.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2021vs Q1 2020 | $1.07B$947.1MM |
| Loans | Q1 2021vs Q1 2020 | $911.0MM$785.5MM |
| Deposits | Q1 2021vs Q1 2020 | $927.9MM$772.6MM |
| Equity Capital | Q1 2021vs Q1 2020 | $117.6MM$110.0MM |
| Loan Loss Allowance | Q1 2021vs Q1 2020 | $12.4MM$10.1MM |
| Unbacked Noncurrent Loans | Q1 2021vs Q1 2020 | $3.2MM$2.3MM |
| Real Estate Owned | Q1 2021vs Q1 2020 | $0$0 |