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

Long Beach, CA

LEI: 25490049RRVB8S6CG210

Tax ID: 95-0726412

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • 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, Riverside, Memphis, and Phoenix among others. We have data for 10 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 an average pick rate when compared to similar lenders. Farmers And Merchants Bank Of Long Beach is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 4.57% 12/4/24
    30 Year Conventional Refi 5.64% 12/4/24
    30 Year Cash-out Refi 5.69% 12/4/24
    15 Year Conventional Purchase 5.68% 12/4/24
    15 Year Conventional Refi 5.99% 12/4/24
    15 Year Cash-out Refi 5.99% 12/4/24
    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






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    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

    456

    Origination Dollar Volume (All Markets)

    $416,260,000

    Employee count

    749

    Awards

    Farmers and Merchants Bank of Long Beach 30 Year Conventional Loans silver Farmers and Merchants Bank of Long Beach 30 Year Conventional Loans bronze Farmers and Merchants Bank of Long Beach 30 Year Conventional Loans gold
    Show all (3) awards

    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) 389 $350,525,000 $901,093 $5,982 3.09%
    SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 16 $21,330,000 $1,333,125 $8,139 3.26%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 29 $17,845,000 $615,345 $4,282 3.05%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $12,255,000 $12,255,000 $0 4.00%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $4,510,000 $2,255,000 $0 3.88%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 5 $3,515,000 $703,000 $11,519 3.02%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 7 $3,135,000 $447,857 $6,123 2.64%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 4 $1,540,000 $385,000 $6,100 2.78%
    Outside of Metro Areas 1 $1,325,000 $1,325,000 $0 3.95%
    BAKERSFIELD, CA (FHA|USDA|VA) 2 $280,000 $140,000 $0 3.94%
    Farmers And Merchants Bank Of Long Beach's top markets include Los Angeles, Santa Maria, Riverside, Memphis, and Phoenix among others.

    Their top states include:
  • California (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)

    • 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.

    Christian Community Credit Union
    Similarity Rank: 354
    Credence Funding Corporation
    Similarity Rank: 404
    LONG BEACH CITY EMPLOYEES Federal Credit Union
    Similarity Rank: 825
    Chaffey Federal Credit Union
    Similarity Rank: 966
    LA Financial Federal Credit Union
    Similarity Rank: 1374
    POPA FEDERAL CREDIT UNION
    Similarity Rank: 1380
    Los Angeles Federal Credit Union
    Similarity Rank: 1400
    Water and Power Community Credit Union
    Similarity Rank: 1484
    ARROWHEAD CENTRAL CREDIT UNION
    Similarity Rank: 1488
    FRONTWAVE
    Similarity Rank: 1520

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 456 $416,260,000 $912,851 $5,973 3.10%

    For 2021, Farmers And Merchants Bank Of Long Beach's most frequently originated type of loan was Conventional, with 456 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 237 $195,005,000 $822,806 $5,126 3.01%
    Cash Out Refi 123 $84,895,000 $690,203 $6,086 2.92%
    Home Purchase 63 $111,875,000 $1,775,794 $11,654 3.68%
    Other 18 $11,060,000 $614,444 $6,642 3.04%
    Home Improvement 15 $13,425,000 $895,000 $4,121 3.50%

    For 2021, Farmers And Merchants Bank Of Long Beach's most frequently cited loan purpose was Refi, with 237 originations. The 2nd most popular reason was Cash Out Refi, with 123 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 234 $147,810,000 $631,667 $6,062 2.91%
    Other 78 $133,800,000 $1,715,385 $11,678 3.71%
    15 Year 77 $49,845,000 $647,338 $5,114 2.78%
    10 Year 53 $79,135,000 $1,493,113 $3,346 3.45%
    20 Year 11 $3,765,000 $342,273 $3,091 2.78%
    3 Year 2 $700,000 $350,000 $0 4.50%
    1 Year 1 $1,205,000 $1,205,000 $0 4.50%

    For 2021, Farmers And Merchants Bank Of Long Beach's most frequently cited loan duration was 30 Year, with 234 originations. The 2nd most popular length was Other, with 78 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 148 $50,500,000 $341,216
    $5k+ 58 $92,060,000 $1,587,241
    $2k-3k 38 $11,940,000 $314,211
    $3k-4k 17 $7,175,000 $422,059
    $4k-5k 17 $10,465,000 $615,588

    Farmers And Merchants Bank Of Long Beach's average total fees were $6,062, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 148 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 207 $155,985,000 $753,551
    3-4% 149 $160,625,000 $1,078,020
    <2.5% 63 $34,795,000 $552,302
    4-5% 37 $64,855,000 $1,752,838

    During 2021, Farmers And Merchants Bank Of Long Beach's average interest rate for loans was 2.91%, while their most frequently originated rate bucket for loans was 2.5-3%, with 207 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 134 $39,980,000 $298,358 $3,601 2.91%
    $1MM+ 113 $268,785,000 $2,378,628 $15,914 3.35%
    $400k-600k 102 $49,960,000 $489,804 $4,097 3.03%
    $600k-1MM 67 $51,785,000 $772,910 $7,729 3.22%
    $100k-200k 35 $5,385,000 $153,857 $3,209 2.95%
    $100,000 or less 5 $365,000 $73,000 $3,186 2.80%

    2021 saw Farmers And Merchants Bank Of Long Beach place emphasis on $200k-400k loans with 134 originations, totaling $39,980,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 99 $110,585,000 $1,117,020 $11,229 2.91%
    $100k-150k 65 $28,855,000 $443,923 $4,658 2.83%
    $150k-250k 62 $32,320,000 $521,290 $4,985 2.80%
    $50k-75k 40 $10,310,000 $257,750 $3,435 2.83%
    $75k-100k 38 $13,320,000 $350,526 $3,867 2.89%
    $50k or less 15 $4,895,000 $326,333 $4,201 3.07%

    Farmers And Merchants Bank Of Long Beach lent most frequently to those with incomes in the $250k+ range, with 99 originations. The second most popular income band? $100k-150k, with 65 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 71 $35,385,000 $498,380 $5,387 2.85%
    30-36% 61 $37,105,000 $608,279 $4,995 2.84%
    <20% 53 $35,155,000 $663,302 $6,052 2.76%
    43% 16 $14,500,000 $906,250 $8,071 2.89%
    41% 15 $9,895,000 $659,667 $7,128 2.87%
    37% 15 $7,215,000 $481,000 $4,242 2.98%
    42% 12 $13,320,000 $1,110,000 $10,633 2.86%
    44% 11 $6,845,000 $622,273 $7,065 2.75%
    36% 11 $4,595,000 $417,727 $3,777 2.76%
    47% 10 $3,400,000 $340,000 $3,495 2.96%
    46% 10 $8,430,000 $843,000 $8,329 2.90%
    40% 9 $3,695,000 $410,556 $4,472 3.00%
    45% 9 $3,375,000 $375,000 $4,530 3.00%
    48% 8 $4,680,000 $585,000 $5,401 2.97%
    38% 7 $3,015,000 $430,714 $4,997 2.93%
    50-60% 7 $6,755,000 $965,000 $11,308 2.93%
    39% 5 $2,615,000 $523,000 $6,688 2.88%
    >60% 4 $5,610,000 $1,402,500 $12,583 3.50%
    49% 3 $2,125,000 $708,333 $5,497 2.54%

    Farmers And Merchants Bank Of Long Beach lent most frequently to those with DTI ratios of 20-30%, with 71 originations. The next most common DTI ratio? 30-36%, with 61 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 114 $203,240,000 $1,782,807 $0 3.75%
    White 272 $182,410,000 $670,625 $6,327 2.89%
    Asian 33 $13,615,000 $412,576 $4,540 2.77%
    Not provided 25 $12,415,000 $496,600 $5,458 2.89%
    Black 9 $3,225,000 $358,333 $3,181 3.03%
    American Indian 2 $960,000 $480,000 $2,558 2.75%
    Filipino 1 $395,000 $395,000 $4,235 2.63%

    Approval Rates

    Total approvals of all applications
    84.14%

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

    Pick Rate

    Approvals leading to origination
    90.79%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 456 $416,260,000 $912,851

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    456 $416,260,000 $912,851

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 138 $90,500,000 $655,797 $5,050 3.03%
    40-60% 191 $203,875,000 $1,067,408 $6,836 3.08%
    60-80% 63 $82,555,000 $1,310,397 $6,883 3.25%
    80-100% 7 $6,705,000 $957,857 $9,112 3.41%
    Under 20% 57 $32,625,000 $572,368 $3,820 3.10%

    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 $255,815
    Farmers and Merchants Bank of Long Beach 1220 East Katella Avenue Orange, CA 92867 Full Service B&M $476,208
    Farmers and Merchants Bank of Long Beach 12535 Seal Beach Boulevard Seal Beach, CA 90740 Full Service B&M $539,444
    Farmers and Merchants Bank of Long Beach 1333 S Pacific Coast Highway Redondo Beach, CA 90277 Full Service B&M $78,305
    Farmers and Merchants Bank of Long Beach 1750 East Seventeenth Street Santa Ana, CA 92701 Full Service B&M $260,432
    Farmers and Merchants Bank of Long Beach 22400 Hawthorne Boulevard Torrance, CA 90505 Full Service B&M $223,388
    Farmers and Merchants Bank of Long Beach 2302 Bellflower Boulevard Long Beach, CA 90815 Full Service B&M $420,831
    Farmers and Merchants Bank of Long Beach 23772 Rockfield Boulevard El Toro, CA 92630 Full Service B&M $252,741
    Farmers and Merchants Bank of Long Beach 2421 East Coast Hwy Corona Del Mar, CA 92625 Full Service B&M $529,262
    Farmers and Merchants Bank of Long Beach 24300 Paseo De Valencia Laguna Hills, CA 92653 Full Service B&M $198,387
    Farmers and Merchants Bank of Long Beach 2691 Park Avenue Tustin, CA 92780 Full Service B&M $199,932
    Farmers and Merchants Bank of Long Beach 27525 Indian Peak Road, Suite 3 Rolling Hills, CA 90274 Full Service B&M $380,021
    Farmers and Merchants Bank of Long Beach 2801 Atlantic Avenue Long Beach, CA 90806 Full Service B&M $136,308
    Farmers and Merchants Bank of Long Beach 302 Pine Avenue Long Beach, CA 90802 Full Service B&M $1,006,462
    Farmers and Merchants Bank of Long Beach 3140 Anaheim Street Long Beach, CA 90802 Full Service B&M $381,531
    Farmers and Merchants Bank of Long Beach 315 North Harbor Boulevard Fullerton, CA 92832 Full Service B&M $404,615
    Farmers and Merchants Bank of Long Beach 31873 Del Obispo Street San Juan Capistrano, CA 92675 Full Service B&M $345,222
    Farmers and Merchants Bank of Long Beach 33 East Carrillo Street Santa Barbara, CA 93101 Full Service B&M $48,467
    Farmers and Merchants Bank of Long Beach 4545 California Avenue Long Beach, CA 90807 Full Service B&M $434,721
    Farmers and Merchants Bank of Long Beach 4695 Macarthur Ct Newport Beach, CA 92660 Full Service B&M $308,663
    Farmers and Merchants Bank of Long Beach 4827 East Second Street Long Beach, CA 90803 Full Service B&M $353,337
    Farmers and Merchants Bank of Long Beach 501 N El Camino Real San Clemente, CA 92672 Full Service B&M $228,173
    Farmers and Merchants Bank of Long Beach 5101 Lakewood Boulevard Lakewood, CA 90712 Full Service B&M $454,887
    Farmers and Merchants Bank of Long Beach 7125 Yorktown Avenue Huntington Beach, CA 92648 Full Service B&M $310,081
    Farmers and Merchants Bank of Long Beach 9001 Firestone Blvd Downey, CA 90241 Full Service B&M $144,738

    For 2021, Farmers And Merchants Bank Of Long Beach had 25 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $307,546
    Net interest income $295,314
    Total noninterest income $18,409
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $5,697
    Trading account gains and fees $0
    Additional Noninterest Income $12,712
    Pre-tax net operating income $144,525
    Securities gains (or losses, -) $0
    Income before extraordinary items $115,205
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $115,205
    Minority interest net income $0
    Net income $115,205
    Sale, conversion, retirement of capital stock, net $-563
    Net operating income $115,205

    Farmers And Merchants Bank Of Long Beach's gross interest income from loans was $307,546,000.
    Farmers And Merchants Bank Of Long Beach's net interest income from loans was $295,314,000.
    Farmers And Merchants Bank Of Long Beach's fee based income from loans was $5,697,000.
    Farmers And Merchants Bank Of Long Beach's net income from loans was $115,205,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $12,232
    Provision for credit losses $0
    Total noninterest expense $169,198
    Salaries and employee benefits $111,590
    Premises and equipment expense $15,400
    Additional noninterest expense $42,208
    Applicable income taxes $29,320
    Net charge-offs $-613
    Cash dividends $15,494

    Farmers And Merchants Bank Of Long Beach's interest expense for loans was $12,232,000.
    Farmers And Merchants Bank Of Long Beach's payroll and benefits expense were $111,590,000.
    Farmers And Merchants Bank Of Long Beach's property, plant and equipment expenses $15,400,000.

    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 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    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 $9,241,490
    Deposits held in domestic offices $9,241,490
    Deposits by Individuals, partnerships, and corporations $8,953,298
    Deposits by U.S. Government $54
    Deposits by States and political subdivisions in the U.S. $157,427
    Deposits by Commercial banks and other depository institutions in U.S. $130,706
    Deposits by Banks in foreign countries $4
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $404,571
    Demand deposits $375,812
    Nontransaction accounts $8,836,918
    Money market deposit accounts (MMDAs) $7,048,064
    Other savings deposits (excluding MMDAs) $1,043,471
    Total time deposits $745,382
    Total time and savings deposits $8,865,677
    Noninterest-bearing deposits $3,552,247
    Interest-bearing deposits $5,689,243
    Retail deposits $8,827,037
    IRAs and Keogh plan accounts $101,632
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $11,438,260
    Cash & Balances due from depository institutions $1,301,671
    Interest-bearing balances $1,252,646
    Total securities $4,506,768
    Federal funds sold & reverse repurchase $0
    Net loans and leases $5,381,179
    Loan and leases loss allowance $72,880
    Trading account assets $0
    Bank premises and fixed assets $120,846
    Other real estate owned $966
    Goodwill and other intangibles $0
    All other assets $126,830

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $11,438,260
    Total Liabilities $10,196,698
    Total deposits $9,241,490
    Interest-bearing deposits $5,689,243
    Deposits held in domestic offices $9,241,490
    % insured (estimated) $41
    Federal funds purchased and repurchase agreements $916,672
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $38,536

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $5,381,179
    Loan and leases loss allowance $72,880
    Total loans and leases (domestic) $5,454,059
    All real estate loans $4,806,936
    Real estate loans in domestic offices $4,806,936
    Construction and development loans $537,593
    Residential 1-4 family construction $135,846
    Other construction, all land development and other land $401,747
    Loans secured by nonfarm nonresidential properties $3,359,070
    Nonfarm nonresidential secured by owner-occupied properties $633,746
    Commercial real estate & other non-farm, non-residential $2,725,324
    Multifamily residential real estate $257,571
    1-4 family residential loans $649,036
    Farmland loans $3,666
    Loans held in foreign offices $0
    Farm loans $275
    Commercial and industrial loans $138,044
    To non-U.S. addressees $0
    Loans to individuals $115,629
    Credit card loans $0
    Related Plans $23,351
    Consumer Auto Loans $7
    Other loans to individuals $92,271
    All other loans & leases $393,175
    Loans to foreign governments and official institutions $0
    Other loans $147,578
    Loans to depository institutions and acceptances of other banks $1
    Loans not secured by real estate $132,561
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $34,350
    Non 1-4 family restructured loans & leases $34,350
    Total loans and leases (foreign) $0

    Farmers and Merchants Bank of Long Beach had $5,381,179,000 of loans outstanding in 2021. $4,806,936,000 of loans were in real estate loans. $537,593,000 of loans were in development loans. $257,571,000 of loans were in multifamily mortgage loans. $649,036,000 of loans were in 1-4 family mortgage loans. $275,000 of loans were in farm loans. $0 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 528 $224,616 $425,409
    Nonfarm, nonresidential loans - <$100k 8 $316 $39,500
    Nonfarm, nonresidential loans - $100-250k 61 $6,714 $110,066
    Nonfarm, nonresidential loans - $250k-1MM 459 $217,586 $474,044
    Commercial & Industrial, US addressed loans - <$1MM 243 $36,573 $150,506
    Commercial & Industrial, US addressed loans - <$100k 63 $973 $15,444
    Commercial & Industrial, US addressed loans - $100-250k 67 $5,874 $87,672
    Commercial & Industrial, US addressed loans - $250k-1MM 113 $29,726 $263,062
    Farmland loans - <$1MM 2 $473 $236,500
    Farmland loans - $250k-1MM 2 $473 $236,500
    Agriculture operations loans - <$1MM 1 $275 $275,000
    Agriculture operations loans - $250k-1MM 1 $275 $275,000