Monona Bank is headquartered in Monona and is the 26th largest bank in the state of Wisconsin. It is also the 866th largest bank in the nation. It was established in 1991 and as of June of 2022, it had grown to 154 employees at 9 locations. Monona Bank's money market rates are 86% higher than the national average, and it boasts an A+ health rating.
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!
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.
Overall | |
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FDIC Certificate # | 33458 |
Year Established | 1991 |
Employees | 154 |
Primary Regulator | FDIC |
Profit Margin | |
---|---|
Return on Assets - YTD | 0.89% |
Return on Equity - YTD | 8.66% |
Annual Interest Income | $19.3MM |
Assets and Liabilities | ||
---|---|---|
Assets | Q2 2022vs Q2 2021 | $1.17B$1.13B |
Loans | Q2 2022vs Q2 2021 | $959.5MM$931.9MM |
Deposits | Q2 2022vs Q2 2021 | $1.04B$978.6MM |
Equity Capital | Q2 2022vs Q2 2021 | $121.3MM$118.3MM |
Loan Loss Allowance | Q2 2022vs Q2 2021 | $12.9MM$12.7MM |
Unbacked Noncurrent Loans | Q2 2022vs Q2 2021 | $1.0MM$3.2MM |
Real Estate Owned | Q2 2022vs Q2 2021 | $0$0 |
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
---|---|---|---|---|
0.30% | - | - | LifeSavings HSA | |
0.16% | - | - | True Savings | |
0.16% | - | - | Junior Savings |
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
---|---|---|---|---|
0.03% | - | - | True Advantage |
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
---|---|---|---|---|
1.40% | $1k | - | 60 Month IRA | |
1.30% | $1k | - | 48 Month IRA | |
1.15% | $1k | - | 36 Month IRA | |
1.00% | $1k | - | 24 Month IRA | |
0.75% | $1k | - | 12 Month IRA |
Monona Bank Locations | ||
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Cottage Grove Branch | 341 West Cottage Grove Road | Cottage Grove, WI 53527 |
Monona State Bank | 5515 Monona Dr | Monona, WI 53716 |
Bridge Road Branch | 6430 Bridge Road | Monona, WI 53716 |
Atwood Avenue Madison Branch | 1965 Atwood Avenue | Madison, WI 53704 |
Belleville Branch | 27 W Main St | Belleville, WI 53508 |
Brooklyn Branch | 229 Douglas Drive | Brooklyn, WI 53521 |
Cross Plains Wi Branch | 2615 Westview Court | Cross Plains, WI 53528 |
Middleton Br | 3207 Parmenter Street | Middleton, WI 53562 |
Sauk City Branch | 603 Phillips Boulevard | Sauk City, WI 53583 |