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Overview / Commentary
608-223-3000
5515 Monona Drive
Monona, WI 53716

Monona State Bank is headquartered in Monona and is the 43rd largest bank in the state of Wisconsin. It is also the 1,525th largest bank in the nation. It was established in 1991 and as of March of 2016, it had grown to 89 employees at 4 locations. Monona State Bank has an A+ health rating.

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Reviews (1)

Hiding Loan Payoff Fees?

Posted by: wood9037 | Jan 17, 2012

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
A+

Health Grade Components

Overall
FDIC Certificate #33458
Year Established1991
Employees89
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.72%
Return on Equity - YTD6.32%
Annual Interest Income$4.5MM
Assets and Liabilities
AssetsQ1 2016vs Q1 2015$447.8MM$412.1MM
LoansQ1 2016vs Q1 2015$391.0MM$336.1MM
DepositsQ1 2016vs Q1 2015$353.4MM$326.4MM
Equity CapitalQ1 2016vs Q1 2015$51.3MM$48.8MM
Loan Loss AllowanceQ1 2016vs Q1 2015$5.8MM$5.9MM
Unbacked Noncurrent LoansQ1 2016vs Q1 2015$1.1MM$1.4MM
Real Estate OwnedQ1 2016vs Q1 2015$1.7MM$2.2MM
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Monona State Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%$25-Junior Investment Savings
0.05%*$25k*-WealthBuilder Savings
OTHER TIERS: 0.02% Up to $25k
0.05%*$5k*-Health Savings Account
OTHER TIERS: 0.01% Up to $5k
0.03%$100-True Savings

Monona State Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.20%*$10k*-True North Money Market Relationship Account
OTHER TIERS: 0.02% Up to $10k
0.05%*$2,500*-True Money Market
OTHER TIERS: 0.02% Up to $2,500
0.02%$50-Money Market IRA

Monona State Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.01%--True Rewards Checking
0.01%$100-True Advantage Checking

Monona State Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.80%$1k-7 Year CD
1.25%$1k-5 Year CD
1.23%$2,500-23 Month CD Special
0.90%$1k-4 Year CD
0.75%$1k-3 Year CD
0.55%$2,500-9 Month CD Special
0.40%$1k-2 Year CD
0.25%$1k-1 Year CD
0.25%$1k-18 Month CD
0.20%$1k-6 Month CD
0.10%$1k-90 Day CD

Monona State Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.25%$1k-5 Year IRA
0.90%$1k-4 Year IRA
0.75%$1k-3 Year IRA
0.40%$1k-2 Year IRA
0.25%$1k-1 Year IRA
Locations


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
Atwood Avenue Madison Branch1965 Atwood AvenueMadison, WI 53704