Applications / Mortgage Analytics / Lenders / Wisconsin / Forward Bank
Marshfield, WI · Savings institution · FDIC · $1.2 billion assets · 382 loans in 2025
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382
loans originated, 2025
463
applications, 2025
3
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Forward Bank, a savings bank in Marshfield, WI that lends mostly to home buyers, makes more of its loans to low- and moderate-income borrowers than nearly all similar lenders.
Low- and moderate-income (LMI) borrowers took 37.6% of its loans, against 24.1% at similar lenders (savings institutions making between half and twice as many loans). That is higher than about nineteen in twenty of them, and up from 22.1% in 2020. Its smaller typical loan, $185,000 against $235,000, fits the pattern.
In Wausau it held 2.0% of the market, up 0.3 points, and ranked 11 of 196 lenders. In Eau Claire its share rose 0.2 points to 0.6%. Its 2024 merger with Lake City Federal Bank may account for some of the gain. In 2025 it lent in Janesville-Beloit for the first time.
Home purchases made up 59.4% of its loans and refinances 36.1%, all conventional. It turned down 2.1% of home-purchase applications, a lower rate than at more than nine in ten similar lenders with a rate. Their typical rate was 6.1%.
It made 1,288 loans in 2020 and only 322 in 2023. Volume has risen a little each year since. In 2025 originations rose 4%, near the middle of similar lenders, while the whole market grew 10%.
Similar lenders: same lender type, originations between half and twice the lender's in the data year. Written from the 2025 HMDA data and checked figure by figure against it.
FIG. 1 — LOANS ORIGINATED, 2018–2025
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Forward Bank took 463 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 59.4% · Refinance 36.1% · Home improvement 2.6% · Other 1.8%
Conventional 100.0% · of 382 loans. Purchase: buying a home. Refinance: replacing an existing mortgage, including cash-out. FHA: insured by the Federal Housing Administration. VA: guaranteed by the Department of Veterans Affairs. Conventional: neither.
SOURCE: FFIEC HMDA 2025, LOANS ORIGINATED
Where it lends, 2025
| State | Loans | Share |
|---|---|---|
| Wisconsin | 371 | 97.1% |
| Minnesota | 10 | 2.6% |
| Michigan | 1 | 0.3% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Wausau | 49 |
| Eau Claire | 21 |
| Rochester | 5 |
| Minneapolis-St. Paul-Bloomington | 2 |
| Appleton | 1 |
| Green Bay | 1 |
| Janesville-Beloit | 1 |
| Milwaukee-Waukesha | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 254900IER2H3R8YLBW04 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 313577 | 2010–2023 |
| Respondent ID (the HMDA filer code before 2018) | 328530 | 2009–2017 |
Established 1 January 1919. Reported under HMDA 2009-2025.
Mergers, name changes, data editions and corrections: Forward Bank's data.
Forward Bank's data
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