Farmers And Merchants Bank Of Long Beach Mortgage Rates, Fees & Info
Long Beach, CALEI: 25490049RRVB8S6CG210
Tax ID: 95-0726412
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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, San Diego, Riverside, and San Francisco among others. We have data for 13 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% | 4/22/24 |
| 30 Year Conventional Refi | 5.64% | 4/22/24 |
| 30 Year Cash-out Refi | 5.69% | 4/22/24 |
| 15 Year Conventional Purchase | 5.68% | 4/22/24 |
| 15 Year Conventional Refi | 5.99% | 4/22/24 |
| 15 Year Cash-out Refi | 5.99% | 4/22/24 |
| 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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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
554Origination Dollar Volume (All Markets)
$314,190,000Employee count
768Top 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) | 492 | $259,760,000 | $527,967 | $0 | 0.00% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 11 | $25,015,000 | $2,274,091 | $0 | 0.00% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 10 | $11,420,000 | $1,142,000 | $0 | 0.00% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 26 | $8,380,000 | $322,308 | $0 | 0.00% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 3 | $3,055,000 | $1,018,333 | $0 | 0.00% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $2,695,000 | $2,695,000 | $0 | 0.00% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 4 | $1,270,000 | $317,500 | $0 | 0.00% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $0 | 0.00% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $0 | 0.00% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $0 | 0.00% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $0 | 0.00% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 0.00% |
| MADERA, CA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Farmers and Merchants Bank of Long Beach based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 554 | $314,190,000 | $567,130 | $0 | 0.00% |
For 2020, Farmers And Merchants Bank Of Long Beach's most frequently originated type of loan was Conventional, with 554 originations.
Loan Reason
For 2020, Farmers And Merchants Bank Of Long Beach's most frequently cited loan purpose was Refi, with 307 originations. The 2nd most popular reason was Cash Out Refi, with 139 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 554 | $314,190,000 | $567,130 | $0 | 0.00% |
For 2020, Farmers And Merchants Bank Of Long Beach's most frequently cited loan duration was Other, with 554 originations.
Loan Sizing
2020 saw Farmers And Merchants Bank Of Long Beach place emphasis on $200k-400k loans with 239 originations, totaling $72,075,000 in origination value.
Applicant Income
Farmers And Merchants Bank Of Long Beach lent most frequently to those with incomes in the $100k-150k range, with 107 originations. The second most popular income band? $150k-250k, with 100 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 554 | $314,190,000 | $567,130 | $0 | 0.00% |
Farmers And Merchants Bank Of Long Beach lent most frequently to those with DTI ratios of Exempt%, with 554 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications79.35%
Farmers And Merchants Bank Of Long Beach has a below average approval rate.
Pick Rate
Approvals leading to origination88.45%
Farmers And Merchants Bank Of Long Beach has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 554 | $314,190,000 | $567,130 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 32 | $59,730,000 | $1,866,563 |
| Single Family (1-4 Units):Site-Built | 522 | $254,460,000 | $487,471 |
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 | $225,432 |
| Farmers and Merchants Bank of Long Beach | 1220 East Katella Avenue Orange, CA 92867 | Full Service B&M | $379,400 |
| Farmers and Merchants Bank of Long Beach | 12535 Seal Beach Boulevard Seal Beach, CA 90740 | Full Service B&M | $460,134 |
| Farmers and Merchants Bank of Long Beach | 1333 S Pacific Coast Highway Redondo Beach, CA 90277 | Full Service B&M | $58,493 |
| Farmers and Merchants Bank of Long Beach | 1750 East Seventeenth Street Santa Ana, CA 92701 | Full Service B&M | $218,224 |
| Farmers and Merchants Bank of Long Beach | 22400 Hawthorne Boulevard Torrance, CA 90505 | Full Service B&M | $194,590 |
| Farmers and Merchants Bank of Long Beach | 2302 Bellflower Boulevard Long Beach, CA 90815 | Full Service B&M | $386,660 |
| Farmers and Merchants Bank of Long Beach | 23772 Rockfield Boulevard El Toro, CA 92630 | Full Service B&M | $208,951 |
| Farmers and Merchants Bank of Long Beach | 2421 East Coast Hwy Corona Del Mar, CA 92625 | Full Service B&M | $397,459 |
| Farmers and Merchants Bank of Long Beach | 24300 Paseo De Valencia Laguna Hills, CA 92653 | Full Service B&M | $156,482 |
| Farmers and Merchants Bank of Long Beach | 2691 Park Avenue Tustin, CA 92780 | Full Service B&M | $190,774 |
| Farmers and Merchants Bank of Long Beach | 27525 Indian Peak Road, Suite 3 Rolling Hills, CA 90274 | Full Service B&M | $331,749 |
| Farmers and Merchants Bank of Long Beach | 2801 Atlantic Avenue Long Beach, CA 90806 | Full Service B&M | $122,583 |
| Farmers and Merchants Bank of Long Beach | 302 Pine Avenue Long Beach, CA 90802 | Full Service B&M | $939,699 |
| Farmers and Merchants Bank of Long Beach | 3140 Anaheim Street Long Beach, CA 90802 | Full Service B&M | $355,750 |
| Farmers and Merchants Bank of Long Beach | 315 North Harbor Boulevard Fullerton, CA 92832 | Full Service B&M | $332,996 |
| Farmers and Merchants Bank of Long Beach | 31873 Del Obispo Street San Juan Capistrano, CA 92675 | Full Service B&M | $261,938 |
| Farmers and Merchants Bank of Long Beach | 33 East Carrillo Street Santa Barbara, CA 93101 | Full Service B&M | $33,873 |
| Farmers and Merchants Bank of Long Beach | 4545 California Avenue Long Beach, CA 90807 | Full Service B&M | $372,216 |
| Farmers and Merchants Bank of Long Beach | 4695 Macarthur Ct Newport Beach, CA 92660 | Full Service B&M | $279,905 |
| Farmers and Merchants Bank of Long Beach | 4827 East Second Street Long Beach, CA 90803 | Full Service B&M | $317,466 |
| Farmers and Merchants Bank of Long Beach | 501 N El Camino Real San Clemente, CA 92672 | Full Service B&M | $189,976 |
| Farmers and Merchants Bank of Long Beach | 5101 Lakewood Boulevard Lakewood, CA 90712 | Full Service B&M | $435,306 |
| Farmers and Merchants Bank of Long Beach | 7125 Yorktown Avenue Huntington Beach, CA 92648 | Full Service B&M | $267,591 |
| Farmers and Merchants Bank of Long Beach | 9001 Firestone Blvd Downey, CA 90241 | Full Service B&M | $111,083 |
For 2020, Farmers And Merchants Bank Of Long Beach had 25 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $286,383 |
| Net interest income | $261,498 |
| Total noninterest income | $17,148 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $5,279 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $11,869 |
| Pre-tax net operating income | $96,190 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $79,801 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $79,801 |
| Minority interest net income | $0 |
| Net income | $79,801 |
| Sale, conversion, retirement of capital stock, net | $-4,968 |
| Net operating income | $79,801 |
Farmers And Merchants Bank Of Long Beach's gross interest income from loans was $286,383,000.
Farmers And Merchants Bank Of Long Beach's net interest income from loans was $261,498,000.
Farmers And Merchants Bank Of Long Beach's fee based income from loans was $5,279,000.
Farmers And Merchants Bank Of Long Beach's net income from loans was $79,801,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $24,885 |
| Provision for credit losses | $10,500 |
| Total noninterest expense | $171,956 |
| Salaries and employee benefits | $111,977 |
| Premises and equipment expense | $15,930 |
| Additional noninterest expense | $44,049 |
| Applicable income taxes | $16,389 |
| Net charge-offs | $722 |
| Cash dividends | $15,719 |
Farmers And Merchants Bank Of Long Beach's interest expense for loans was $24,885,000.
Farmers And Merchants Bank Of Long Beach's payroll and benefits expense were $111,977,000.
Farmers And Merchants Bank Of Long Beach's property, plant and equipment expenses $15,930,000.
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 | $7,617,626 |
| Deposits held in domestic offices | $7,617,626 |
| Deposits by Individuals, partnerships, and corporations | $7,346,080 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $150,420 |
| Deposits by Commercial banks and other depository institutions in U.S. | $121,125 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $358,749 |
| Demand deposits | $358,749 |
| Nontransaction accounts | $7,258,876 |
| Money market deposit accounts (MMDAs) | $5,608,022 |
| Other savings deposits (excluding MMDAs) | $840,129 |
| Total time deposits | $810,726 |
| Total time and savings deposits | $7,258,876 |
| Noninterest-bearing deposits | $2,889,012 |
| Interest-bearing deposits | $4,728,614 |
| Retail deposits | $7,166,451 |
| IRAs and Keogh plan accounts | $100,676 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $9,871,778 |
| Cash & Balances due from depository institutions | $1,011,675 |
| Interest-bearing balances | $939,566 |
| Total securities | $3,268,586 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $5,349,693 |
| Loan and leases loss allowance | $72,267 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $109,820 |
| Other real estate owned | $966 |
| Goodwill and other intangibles | $0 |
| All other assets | $131,038 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $9,871,778 |
| Total Liabilities | $8,727,936 |
| Total deposits | $7,617,626 |
| Interest-bearing deposits | $4,728,614 |
| Deposits held in domestic offices | $7,617,626 |
| % insured (estimated) | $44 |
| Federal funds purchased and repurchase agreements | $1,062,348 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $0 |
| All other liabilities | $47,962 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $5,349,693 |
| Loan and leases loss allowance | $72,267 |
| Total loans and leases (domestic) | $5,421,960 |
| All real estate loans | $4,343,228 |
| Real estate loans in domestic offices | $4,343,228 |
| Construction and development loans | $582,100 |
| Residential 1-4 family construction | $131,929 |
| Other construction, all land development and other land | $450,171 |
| Loans secured by nonfarm nonresidential properties | $2,891,011 |
| Nonfarm nonresidential secured by owner-occupied properties | $518,459 |
| Commercial real estate & other non-farm, non-residential | $2,372,552 |
| Multifamily residential real estate | $192,273 |
| 1-4 family residential loans | $674,215 |
| Farmland loans | $3,629 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $477,163 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $69,468 |
| Credit card loans | $5,038 |
| Related Plans | $10,201 |
| Consumer Auto Loans | $22 |
| Other loans to individuals | $54,207 |
| All other loans & leases | $532,101 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $275,632 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $112,052 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $34,936 |
| Non 1-4 family restructured loans & leases | $34,350 |
| Total loans and leases (foreign) | $0 |
Farmers and Merchants Bank of Long Beach had $5,349,693,000 of loans outstanding in 2020. $4,343,228,000 of loans were in real estate loans. $582,100,000 of loans were in development loans. $192,273,000 of loans were in multifamily mortgage loans. $674,215,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $5,038,000 of loans were in credit card loans. $22,000 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 | 525 | $208,232 | $396,632 |
| Nonfarm, nonresidential loans - <$100k | 8 | $349 | $43,625 |
| Nonfarm, nonresidential loans - $100-250k | 74 | $8,980 | $121,351 |
| Nonfarm, nonresidential loans - $250k-1MM | 443 | $198,903 | $448,991 |
| Commercial & Industrial, US addressed loans - <$1MM | 3,302 | $293,787 | $88,972 |
| Commercial & Industrial, US addressed loans - <$100k | 2,452 | $86,091 | $35,111 |
| Commercial & Industrial, US addressed loans - $100-250k | 512 | $73,865 | $144,268 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 338 | $133,831 | $395,950 |
| Farmland loans - <$1MM | 2 | $490 | $245,000 |
| Farmland loans - $250k-1MM | 2 | $490 | $245,000 |