Farmers & Merchants Bank Mortgage Rates, Fees & Info

Piedmont, AL

LEI: 2549002KNNRT791PG760

Tax ID: 63-0071520

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Mortgage Data

Review & Overview

Farmers & Merchants Bank is a smaller bank specializing in Home Purchase and Refi loans. Farmers & Merchants Bank has a high proportion of conventional loans. Their top markets by origination volume include: Anniston, Talladega, Daphne, and Gadsden among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

Farmers & Merchants Bank has an above average approval rate when compared to the average across all lenders.

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Originations

34

Origination Dollar Volume (All Markets)

$4,830,000

Top Markets

Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

Market Originations Total Value Average Loan Average Fees Average Rate
ANNISTON-OXFORD, AL (FHA|USDA|VA) 23 $3,075,000 $133,696 $0 0.00%
Outside of Metro Areas 6 $870,000 $145,000 $0 0.00%
Talladega-Sylacauga, AL (FHA|USDA|VA) 3 $555,000 $185,000 $0 0.00%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
GADSDEN, AL (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
Farmers & Merchants Bank's top markets include Anniston, Talladega, Daphne, and Gadsden among others.

Their top states include:
  • Alabama (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 34 $4,830,000 $142,059 $0 0.00%

    For 2023, Farmers & Merchants Bank's most frequently originated type of loan was Conventional, with 34 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 18 $2,980,000 $165,556 $0 0.00%
    Refi 9 $1,195,000 $132,778 $0 0.00%
    Home Improvement 7 $655,000 $93,571 $0 0.00%

    For 2023, Farmers & Merchants Bank's most frequently cited loan purpose was Home Purchase, with 18 originations. The 2nd most popular reason was Refi, with 9 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 34 $4,830,000 $142,059 $0 0.00%

    For 2023, Farmers & Merchants Bank's most frequently cited loan duration was Other, with 34 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 20 $1,230,000 $61,500 $0 0.00%
    $200k-400k 7 $1,965,000 $280,714 $0 0.00%
    $100k-200k 5 $605,000 $121,000 $0 0.00%
    $400k-600k 1 $425,000 $425,000 $0 0.00%
    $600k-1MM 1 $605,000 $605,000 $0 0.00%

    2023 saw Farmers & Merchants Bank place emphasis on $100,000 or less loans with 20 originations, totaling $1,230,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 8 $510,000 $63,750 $0 0.00%
    $50k-75k 5 $365,000 $73,000 $0 0.00%
    $100k-150k 2 $170,000 $85,000 $0 0.00%
    $150k-250k 2 $320,000 $160,000 $0 0.00%
    $250k+ 2 $620,000 $310,000 $0 0.00%
    $75k-100k 2 $160,000 $80,000 $0 0.00%

    Farmers & Merchants Bank lent most frequently to those with incomes in the $50k or less range, with 8 originations. The second most popular income band? $50k-75k, with 5 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 34 $4,830,000 $142,059 $0 0.00%

    Farmers & Merchants Bank lent most frequently to those with DTI ratios of Exempt%, with 34 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 13 $2,685,000 $206,538 $0 0.00%
    White 20 $2,110,000 $105,500 $0 0.00%
    Black 1 $35,000 $35,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    100.00%

    Farmers & Merchants Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 34 $4,830,000 $142,059

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    34 $4,830,000 $142,059