The Farmers Bank & Savings Company Mortgage Rates, Fees & Info

Pomeroy, OH

LEI: 25490074WALW1U7G4555

Tax ID: 31-4177210

5 stars - Updated: 11/21/24 - out of 5 stars, based on 11 reviews

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

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Mortgage Data

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

    • Review & Overview

    The Farmers Bank & Savings Company is a smaller bank specializing in Home Purchase loans. The Farmers Bank & Savings Company has a high proportion of conventional loans. Their top markets by origination volume include: Point Pleasant, Huntington, Athens, Charleston, and Parkersburg among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    The Farmers Bank & Savings Company 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. The Farmers Bank & Savings Company is typically a low 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 relatively high 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.

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    Originations

    111

    Origination Dollar Volume (All Markets)

    $16,295,000

    Awards

    The Farmers Bank & Savings Company 30 Year Conventional Loans gold The Farmers Bank & Savings Company 30 Year Conventional Loans gold
    Show all (2) awards

    Relative Rate

    The Farmers Bank & Savings Company's average 30 year fixed mortgage rate was 8.51%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of 2.03%.

    Relative Fees (Closing Costs)

    The Farmers Bank & Savings Company's average total fees/closing costs for a 30 year fixed rate mortgage were $2,492.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

    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
    Point Pleasant, WV-OH (FHA|USDA|VA) 52 $7,520,000 $144,615 $2,763 8.99%
    Outside of Metro Areas 40 $5,200,000 $130,000 $2,500 8.39%
    HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) 5 $1,125,000 $225,000 $2,486 8.97%
    Athens, OH (FHA|USDA|VA) 5 $765,000 $153,000 $2,758 8.90%
    CHARLESTON, WV (FHA|USDA|VA) 3 $615,000 $205,000 $2,558 8.67%
    PARKERSBURG-VIENNA, WV (FHA|USDA|VA) 1 $535,000 $535,000 $5,947 6.25%
    Marietta, OH (FHA|USDA|VA) 4 $480,000 $120,000 $2,326 8.50%
    Jackson, OH (FHA|USDA|VA) 1 $55,000 $55,000 $1,671 9.00%
    The Farmers Bank & Savings Company's top markets include Point Pleasant, Huntington, Athens, Charleston, and Parkersburg among others.

    Their top states include:
  • Ohio (FHA|USDA|VA)
  • West Virginia (FHA|USDA|VA)
  • (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 109 $16,195,000 $148,578 $2,657 8.71%
    HELOC 2 $100,000 $50,000 n/a 9.50%

    For 2023, The Farmers Bank & Savings Company's most frequently originated type of loan was Conventional, with 109 originations. Their 2nd most popular type was HELOC, with 2 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 72 $11,500,000 $159,722 $2,807 8.53%
    Refi 23 $2,825,000 $122,826 $2,428 8.59%
    Home Improvement 6 $700,000 $116,667 $3,615 10.50%
    Other 5 $585,000 $117,000 $2,225 9.60%
    Cash Out Refi 5 $685,000 $137,000 $1,989 9.45%

    For 2023, The Farmers Bank & Savings Company's most frequently cited loan purpose was Home Purchase, with 72 originations. The 2nd most popular reason was Refi, with 23 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 34 $4,990,000 $146,765 $2,111 8.66%
    30 Year 27 $4,115,000 $152,407 $2,492 8.51%
    15 Year 22 $1,580,000 $71,818 $2,041 8.62%
    30+ year 12 $2,570,000 $214,167 $4,154 8.69%
    Other 12 $2,910,000 $242,500 $5,085 9.23%
    10 Year 3 $75,000 $25,000 $990 9.75%
    3 Year 1 $55,000 $55,000 $0 9.50%

    For 2023, The Farmers Bank & Savings Company's most frequently cited loan duration was 20 Year, with 34 originations. The 2nd most popular length was 30 Year, with 27 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 43 $2,515,000 $58,488
    $1k-2k 24 $4,020,000 $167,500
    $2k-3k 7 $2,025,000 $289,286
    $3k-4k 5 $1,765,000 $353,000
    $4k-5k 2 $840,000 $420,000

    The Farmers Bank & Savings Company's average total fees were $2,492, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 43 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 67 $9,345,000 $139,478
    7-8% 35 $5,075,000 $145,000
    6-7% 8 $1,830,000 $228,750

    During 2023, The Farmers Bank & Savings Company's average interest rate for loans was 8.51%, while their most frequently originated rate bucket for loans was Over 8%, with 67 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 64 $3,750,000 $58,594 $1,811 8.95%
    $100k-200k 22 $3,420,000 $155,455 $2,480 8.27%
    $200k-400k 20 $5,840,000 $292,000 $4,891 8.55%
    $400k-600k 3 $1,455,000 $485,000 $5,969 8.28%
    $1MM+ 1 $1,025,000 $1,025,000 $0 8.75%
    $600k-1MM 1 $805,000 $805,000 $0 8.50%

    2023 saw The Farmers Bank & Savings Company place emphasis on $100,000 or less loans with 64 originations, totaling $3,750,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 23 $1,915,000 $83,261 $2,046 9.09%
    $75k-100k 22 $3,100,000 $140,909 $2,708 8.78%
    $50k-75k 21 $1,965,000 $93,571 $2,005 8.71%
    $100k-150k 15 $2,085,000 $139,000 $3,220 8.92%
    $150k-250k 10 $2,110,000 $211,000 $3,617 8.58%
    $250k+ 8 $2,890,000 $361,250 $4,330 8.28%

    The Farmers Bank & Savings Company lent most frequently to those with incomes in the $50k or less range, with 23 originations. The second most popular income band? $75k-100k, with 22 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 21 $2,795,000 $133,095 $2,600 8.29%
    30-36% 20 $2,890,000 $144,500 $2,681 8.84%
    <20% 11 $635,000 $57,727 $1,916 9.00%
    43% 5 $845,000 $169,000 $3,360 9.70%
    42% 4 $370,000 $92,500 $2,123 8.94%
    39% 3 $385,000 $128,333 $2,167 8.50%
    37% 3 $735,000 $245,000 $3,398 8.00%
    40% 3 $825,000 $275,000 $3,356 7.58%
    41% 3 $685,000 $228,333 $4,207 8.42%
    36% 2 $110,000 $55,000 $1,793 9.63%
    38% 1 $135,000 $135,000 $2,350 8.00%
    44% 1 $75,000 $75,000 $1,740 7.00%
    48% 1 $455,000 $455,000 $5,990 10.75%

    The Farmers Bank & Savings Company lent most frequently to those with DTI ratios of 20-30%, with 21 originations. The next most common DTI ratio? 30-36%, with 20 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 93 $12,285,000 $132,097 $2,680 8.78%
    Not provided 8 $2,680,000 $335,000 $1,756 8.57%
    Not applicable 10 $1,330,000 $133,000 $0 8.24%

    Approval Rates

    Total approvals of all applications
    84.02%

    The Farmers Bank & Savings Company has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    77.48%

    The Farmers Bank & Savings Company has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 111 $16,295,000 $146,802

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    111 $16,295,000 $146,802

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $1,070,000 $178,333 $2,774 9.17%
    40-60% 18 $1,890,000 $105,000 $2,686 8.19%
    60-80% 44 $5,820,000 $132,273 $2,604 8.63%
    80-100% 34 $5,160,000 $151,765 $2,847 8.80%
    Over 100% 4 $2,180,000 $545,000 $0 8.88%
    Under 20% 4 $130,000 $32,500 $1,142 10.50%