Farmers And Merchants Bank Of Long Beach Mortgage Rates, Fees & Info

Long Beach, CA

LEI: 25490049RRVB8S6CG210

Tax ID: 95-0726412

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Mortgage Data

Bank Data

Review & Overview

Farmers And Merchants Bank Of Long Beach is a smaller bank specializing in Refi, Cash Out Refi, and Home Purchase loans. Farmers And Merchants Bank Of Long Beach has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Santa Maria, Oxnard, Riverside, and San Diego among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

Farmers And Merchants Bank Of Long Beach has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 4.57% 3/28/24
30 Year Conventional Refi 5.64% 3/28/24
30 Year Cash-out Refi 5.69% 3/28/24
15 Year Conventional Purchase 5.68% 3/28/24
15 Year Conventional Refi 5.99% 3/28/24
15 Year Cash-out Refi 5.99% 3/28/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Farmers And Merchants Bank Of Long Beach Mortgage Calculator






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This is not an official calculator from Farmers And Merchants Bank Of Long Beach. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

314

Origination Dollar Volume (All Markets)

$232,220,000

Employee count

765

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
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 273 $179,505,000 $657,527 $0 0.00%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 12 $21,390,000 $1,782,500 $0 0.00%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 1 $20,005,000 $20,005,000 $0 0.00%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 19 $6,735,000 $354,474 $0 0.00%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 6 $3,570,000 $595,000 $0 0.00%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $365,000 $365,000 $0 0.00%
VALLEJO, CA (FHA|USDA|VA) 1 $335,000 $335,000 $0 0.00%
Heber, UT (FHA|USDA|VA) 1 $315,000 $315,000 $0 0.00%
Farmers And Merchants Bank Of Long Beach's top markets include Los Angeles, Santa Maria, Oxnard, Riverside, and San Diego among others.

Their top states include:
  • California (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Utah (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 314 $232,220,000 $739,554 $0 0.00%

    For 2019, Farmers And Merchants Bank Of Long Beach's most frequently originated type of loan was Conventional, with 314 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 105 $72,545,000 $690,905 $0 0.00%
    Cash Out Refi 97 $57,475,000 $592,526 $0 0.00%
    Home Purchase 75 $83,885,000 $1,118,467 $0 0.00%
    Other 19 $9,455,000 $497,632 $0 0.00%
    Home Improvement 18 $8,860,000 $492,222 $0 0.00%

    For 2019, Farmers And Merchants Bank Of Long Beach's most frequently cited loan purpose was Refi, with 105 originations. The 2nd most popular reason was Cash Out Refi, with 97 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 314 $232,220,000 $739,554 $0 0.00%

    For 2019, Farmers And Merchants Bank Of Long Beach's most frequently cited loan duration was Other, with 314 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 99 $29,795,000 $300,960 $0 0.00%
    $400k-600k 77 $36,405,000 $472,792 $0 0.00%
    $1MM+ 50 $129,330,000 $2,586,600 $0 0.00%
    $100k-200k 40 $5,940,000 $148,500 $0 0.00%
    $600k-1MM 39 $30,145,000 $772,949 $0 0.00%
    $100,000 or less 9 $605,000 $67,222 $0 0.00%

    2019 saw Farmers And Merchants Bank Of Long Beach place emphasis on $200k-400k loans with 99 originations, totaling $29,795,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 77 $77,945,000 $1,012,273 $0 0.00%
    $150k-250k 50 $27,130,000 $542,600 $0 0.00%
    $100k-150k 41 $16,635,000 $405,732 $0 0.00%
    $50k-75k 35 $14,885,000 $425,286 $0 0.00%
    $75k-100k 34 $12,550,000 $369,118 $0 0.00%
    $50k or less 24 $8,000,000 $333,333 $0 0.00%

    Farmers And Merchants Bank Of Long Beach lent most frequently to those with incomes in the $250k+ range, with 77 originations. The second most popular income band? $150k-250k, with 50 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 314 $232,220,000 $739,554 $0 0.00%

    Farmers And Merchants Bank Of Long Beach lent most frequently to those with DTI ratios of Exempt%, with 314 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 214 $138,950,000 $649,299 $0 0.00%
    Not applicable 39 $65,385,000 $1,676,538 $0 0.00%
    Asian 33 $16,105,000 $488,030 $0 0.00%
    Not provided 19 $8,475,000 $446,053 $0 0.00%
    Black 6 $2,090,000 $348,333 $0 0.00%
    Korean 1 $455,000 $455,000 $0 0.00%
    Filipino 1 $445,000 $445,000 $0 0.00%
    American Indian 1 $315,000 $315,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    74.64%

    Farmers And Merchants Bank Of Long Beach has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    80.57%

    Farmers And Merchants Bank Of Long Beach has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 314 $232,220,000 $739,554

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 20 $44,580,000 $2,229,000
    Single Family (1-4 Units):Site-Built 294 $187,640,000 $638,231

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Farmers and Merchants Bank of Long Beach 10422 Garden Grove Boulevard Garden Grove, CA 92843 Full Service B&M $194,619
    Farmers and Merchants Bank of Long Beach 1220 East Katella Avenue Orange, CA 92867 Full Service B&M $288,254
    Farmers and Merchants Bank of Long Beach 12535 Seal Beach Boulevard Seal Beach, CA 90740 Full Service B&M $376,473
    Farmers and Merchants Bank of Long Beach 1333 S Pacific Coast Highway Redondo Beach, CA 90277 Full Service B&M $124,995
    Farmers and Merchants Bank of Long Beach 1750 East Seventeenth Street Santa Ana, CA 92701 Full Service B&M $167,600
    Farmers and Merchants Bank of Long Beach 22400 Hawthorne Boulevard Torrance, CA 90505 Full Service B&M $173,737
    Farmers and Merchants Bank of Long Beach 2302 Bellflower Boulevard Long Beach, CA 90815 Full Service B&M $333,237
    Farmers and Merchants Bank of Long Beach 23772 Rockfield Boulevard El Toro, CA 92630 Full Service B&M $176,281
    Farmers and Merchants Bank of Long Beach 2421 East Coast Hwy Corona Del Mar, CA 92625 Full Service B&M $282,910
    Farmers and Merchants Bank of Long Beach 24300 Paseo De Valencia Laguna Hills, CA 92653 Full Service B&M $142,305
    Farmers and Merchants Bank of Long Beach 2691 Park Avenue Tustin, CA 92780 Full Service B&M $103,257
    Farmers and Merchants Bank of Long Beach 27525 Indian Peak Road, Suite 3 Rolling Hills, CA 90274 Full Service B&M $258,280
    Farmers and Merchants Bank of Long Beach 2801 Atlantic Avenue Long Beach, CA 90806 Full Service B&M $79,535
    Farmers and Merchants Bank of Long Beach 302 Pine Avenue Long Beach, CA 90802 Full Service B&M $660,028
    Farmers and Merchants Bank of Long Beach 3140 Anaheim Street Long Beach, CA 90802 Full Service B&M $255,623
    Farmers and Merchants Bank of Long Beach 315 North Harbor Boulevard Fullerton, CA 92832 Full Service B&M $274,267
    Farmers and Merchants Bank of Long Beach 31873 Del Obispo Street San Juan Capistrano, CA 92675 Full Service B&M $201,610
    Farmers and Merchants Bank of Long Beach 33 East Carrillo Street Santa Barbara, CA 93101 Full Service B&M $25,001
    Farmers and Merchants Bank of Long Beach 4545 California Avenue Long Beach, CA 90807 Full Service B&M $317,730
    Farmers and Merchants Bank of Long Beach 4695 Macarthur Ct Newport Beach, CA 92660 Full Service B&M $213,318
    Farmers and Merchants Bank of Long Beach 4827 East Second Street Long Beach, CA 90803 Full Service B&M $256,777
    Farmers and Merchants Bank of Long Beach 501 N El Camino Real San Clemente, CA 92672 Full Service B&M $154,881
    Farmers and Merchants Bank of Long Beach 5101 Lakewood Boulevard Lakewood, CA 90712 Full Service B&M $373,676
    Farmers and Merchants Bank of Long Beach 7125 Yorktown Avenue Huntington Beach, CA 92648 Full Service B&M $204,989
    Farmers and Merchants Bank of Long Beach 9001 Firestone Blvd Downey, CA 90241 Full Service B&M $85,636

    For 2019, Farmers And Merchants Bank Of Long Beach had 25 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $280,606
    Net interest income $247,640
    Total noninterest income $16,271
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $6,715
    Trading account gains and fees $0
    Additional Noninterest Income $9,556
    Pre-tax net operating income $102,776
    Securities gains (or losses, -) $0
    Income before extraordinary items $85,572
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $85,572
    Minority interest net income $0
    Net income $85,572
    Sale, conversion, retirement of capital stock, net $-16,646
    Net operating income $85,572

    Farmers And Merchants Bank Of Long Beach's gross interest income from loans was $280,606,000.
    Farmers And Merchants Bank Of Long Beach's net interest income from loans was $247,640,000.
    Farmers And Merchants Bank Of Long Beach's fee based income from loans was $6,715,000.
    Farmers And Merchants Bank Of Long Beach's net income from loans was $85,572,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $32,966
    Provision for credit losses $250
    Total noninterest expense $160,885
    Salaries and employee benefits $100,014
    Premises and equipment expense $13,871
    Additional noninterest expense $47,000
    Applicable income taxes $17,204
    Net charge-offs $211
    Cash dividends $15,869

    Farmers And Merchants Bank Of Long Beach's interest expense for loans was $32,966,000.
    Farmers And Merchants Bank Of Long Beach's payroll and benefits expense were $100,014,000.
    Farmers And Merchants Bank Of Long Beach's property, plant and equipment expenses $13,871,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 1.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $5,828,265
    Deposits held in domestic offices $5,828,265
    Deposits by Individuals, partnerships, and corporations $5,668,708
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $138,271
    Deposits by Commercial banks and other depository institutions in U.S. $21,286
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $276,123
    Demand deposits $248,887
    Nontransaction accounts $5,552,142
    Money market deposit accounts (MMDAs) $4,155,801
    Other savings deposits (excluding MMDAs) $675,383
    Total time deposits $720,958
    Total time and savings deposits $5,579,378
    Noninterest-bearing deposits $2,135,056
    Interest-bearing deposits $3,693,209
    Retail deposits $5,487,563
    IRAs and Keogh plan accounts $95,196
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $7,605,569
    Cash & Balances due from depository institutions $118,865
    Interest-bearing balances $54,309
    Total securities $2,879,206
    Federal funds sold & reverse repurchase $0
    Net loans and leases $4,359,561
    Loan and leases loss allowance $62,489
    Trading account assets $0
    Bank premises and fixed assets $114,963
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $132,974

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $7,605,569
    Total Liabilities $6,522,689
    Total deposits $5,828,265
    Interest-bearing deposits $3,693,209
    Deposits held in domestic offices $5,828,265
    % insured (estimated) $48
    Federal funds purchased and repurchase agreements $632,428
    Trading liabilities $0
    Other borrowed funds $9,048
    Subordinated debt $0
    All other liabilities $52,948

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $4,359,561
    Loan and leases loss allowance $62,489
    Total loans and leases (domestic) $4,422,050
    All real estate loans $4,081,152
    Real estate loans in domestic offices $4,081,152
    Construction and development loans $430,908
    Residential 1-4 family construction $124,927
    Other construction, all land development and other land $305,981
    Loans secured by nonfarm nonresidential properties $2,736,344
    Nonfarm nonresidential secured by owner-occupied properties $503,533
    Commercial real estate & other non-farm, non-residential $2,232,811
    Multifamily residential real estate $197,826
    1-4 family residential loans $714,971
    Farmland loans $1,103
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $53,771
    To non-U.S. addressees $0
    Loans to individuals $23,546
    Credit card loans $5,395
    Related Plans $2
    Consumer Auto Loans $7
    Other loans to individuals $18,142
    All other loans & leases $263,581
    Loans to foreign governments and official institutions $0
    Other loans $129,937
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $120,322
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $2,606
    Non 1-4 family restructured loans & leases $704
    Total loans and leases (foreign) $0

    Farmers and Merchants Bank of Long Beach had $4,359,561,000 of loans outstanding in 2019. $4,081,152,000 of loans were in real estate loans. $430,908,000 of loans were in development loans. $197,826,000 of loans were in multifamily mortgage loans. $714,971,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $5,395,000 of loans were in credit card loans. $7,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 530 $211,832 $399,683
    Nonfarm, nonresidential loans - <$100k 8 $341 $42,625
    Nonfarm, nonresidential loans - $100-250k 69 $8,327 $120,681
    Nonfarm, nonresidential loans - $250k-1MM 453 $203,164 $448,486
    Commercial & Industrial, US addressed loans - <$1MM 154 $10,086 $65,494
    Commercial & Industrial, US addressed loans - <$100k 52 $988 $19,000
    Commercial & Industrial, US addressed loans - $100-250k 39 $1,449 $37,154
    Commercial & Industrial, US addressed loans - $250k-1MM 63 $7,649 $121,413
    Farmland loans - <$1MM 1 $49 $49,000
    Farmland loans - <$100k 1 $49 $49,000