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 Refi and Home Purchase loans. Farmers & Merchants Bank has a high proportion of conventional loans. Their top markets by origination volume include: Anniston, Daphne, Talladega, Cedartown, and Birmingham among others. We have data for 7 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. They have an above average pick rate when compared to similar lenders.

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Originations

80

Origination Dollar Volume (All Markets)

$6,570,000

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) 58 $4,730,000 $81,552 $0 0.00%
Outside of Metro Areas 8 $630,000 $78,750 $0 0.00%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 4 $390,000 $97,500 $0 0.00%
Talladega-Sylacauga, AL (FHA|USDA|VA) 3 $335,000 $111,667 $0 0.00%
Cedartown, GA (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 3 $175,000 $58,333 $0 0.00%
GADSDEN, AL (FHA|USDA|VA) 3 $85,000 $28,333 $0 0.00%
Farmers & Merchants Bank's top markets include Anniston, Daphne, Talladega, Cedartown, and Birmingham among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 80 $6,570,000 $82,125 $0 0.00%

    For 2019, Farmers & Merchants Bank's most frequently originated type of loan was Conventional, with 80 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 51 $3,305,000 $64,804 $0 0.00%
    Home Purchase 26 $3,150,000 $121,154 $0 0.00%
    Other 2 $70,000 $35,000 $0 0.00%
    Home Improvement 1 $45,000 $45,000 $0 0.00%

    For 2019, Farmers & Merchants Bank's most frequently cited loan purpose was Refi, with 51 originations. The 2nd most popular reason was Home Purchase, with 26 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 80 $6,570,000 $82,125 $0 0.00%

    For 2019, Farmers & Merchants Bank's most frequently cited loan duration was Other, with 80 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 64 $2,910,000 $45,469 $0 0.00%
    $100k-200k 8 $1,040,000 $130,000 $0 0.00%
    $200k-400k 6 $1,670,000 $278,333 $0 0.00%
    $400k-600k 2 $950,000 $475,000 $0 0.00%

    2019 saw Farmers & Merchants Bank place emphasis on $100,000 or less loans with 64 originations, totaling $2,910,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 19 $1,045,000 $55,000 $0 0.00%
    $50k or less 18 $1,960,000 $108,889 $0 0.00%
    $100k-150k 10 $550,000 $55,000 $0 0.00%
    $150k-250k 6 $980,000 $163,333 $0 0.00%
    $250k+ 6 $300,000 $50,000 $0 0.00%
    $75k-100k 2 $110,000 $55,000 $0 0.00%

    Farmers & Merchants Bank lent most frequently to those with incomes in the $50k-75k range, with 19 originations. The second most popular income band? $50k or less, with 18 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 80 $6,570,000 $82,125 $0 0.00%

    Farmers & Merchants Bank lent most frequently to those with DTI ratios of Exempt%, with 80 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 58 $4,830,000 $83,276 $0 0.00%
    Not applicable 19 $1,625,000 $85,526 $0 0.00%
    Black 3 $115,000 $38,333 $0 0.00%

    Approval Rates

    Total approvals of all applications
    98.78%

    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
    98.75%

    Farmers & Merchants Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 80 $6,570,000 $82,125

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 2 $510,000 $255,000
    Multifamily:Site-Built 7 $1,825,000 $260,714
    Single Family (1-4 Units):Manufactured 10 $500,000 $50,000
    Single Family (1-4 Units):Site-Built 61 $3,735,000 $61,230