The Farmers Bank & Savings Company Mortgage Rates, Fees & Info
Pomeroy, OHLEI: 25490074WALW1U7G4555
Tax ID: 31-4177210
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Mortgage Data
Bank Data
Review & Overview
The Farmers Bank & Savings Company is a smaller bank specializing in Home Purchase and Refi loans. The Farmers Bank & Savings Company has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Point Pleasant, Huntington, Jackson, Charleston, and Athens among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)The Farmers Bank & Savings Company has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
149Origination Dollar Volume (All Markets)
$16,695,000Employee count
84Top 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) | 55 | $4,655,000 | $84,636 | $0 | 0.00% |
| Outside of Metro Areas | 49 | $4,575,000 | $93,367 | $0 | 0.00% |
| HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) | 17 | $3,845,000 | $226,176 | $0 | 0.00% |
| Jackson, OH (FHA|USDA|VA) | 8 | $1,070,000 | $133,750 | $0 | 0.00% |
| CHARLESTON, WV (FHA|USDA|VA) | 7 | $845,000 | $120,714 | $0 | 0.00% |
| Athens, OH (FHA|USDA|VA) | 5 | $675,000 | $135,000 | $0 | 0.00% |
| PARKERSBURG-VIENNA, WV (FHA|USDA|VA) | 3 | $285,000 | $95,000 | $0 | 0.00% |
| Marietta, OH (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| Bellefontaine, OH (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| Sevierville, TN (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| Chillicothe, OH (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 148 | $16,610,000 | $112,230 | $0 | 0.00% |
| USDA | 1 | $85,000 | $85,000 | $0 | 0.00% |
For 2018, The Farmers Bank & Savings Company's most frequently originated type of loan was Conventional, with 148 originations. Their 2nd most popular type was USDA, with 1 originations.
Loan Reason
For 2018, The Farmers Bank & Savings Company's most frequently cited loan purpose was Home Purchase, with 89 originations. The 2nd most popular reason was Refi, with 45 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 149 | $16,695,000 | $112,047 | $0 | 0.00% |
For 2018, The Farmers Bank & Savings Company's most frequently cited loan duration was Other, with 149 originations.
Loan Sizing
2018 saw The Farmers Bank & Savings Company place emphasis on $100,000 or less loans with 90 originations, totaling $4,910,000 in origination value.
Applicant Income
The Farmers Bank & Savings Company lent most frequently to those with incomes in the $50k or less range, with 44 originations. The second most popular income band? $50k-75k, with 34 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 149 | $16,695,000 | $112,047 | $0 | 0.00% |
The Farmers Bank & Savings Company lent most frequently to those with DTI ratios of Exempt%, with 149 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications55.88%
The Farmers Bank & Savings Company has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination63.76%
The Farmers Bank & Savings Company has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 149 | $16,695,000 | $112,047 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 29 | $1,615,000 | $55,690 |
| Single Family (1-4 Units):Site-Built | 120 | $15,080,000 | $125,667 |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| The Farmers Bank and Savings Company | 1716 Jefferson Boulevard Point Pleasant, WV 25550 | Full Service B&M | $33,848 |
| The Farmers Bank and Savings Company | 211 W Main St Pomeroy, OH 45769 | Limited, Drive-thru | $12,856 |
| The Farmers Bank and Savings Company | 164 Upper River Rd Gallipolis, OH 45631 | Full Service B&M | $52,522 |
| The Farmers Bank and Savings Company | 3572 Teays Valley Road Hurricane, WV 25526 | Full Service B&M | $22,018 |
| The Farmers Bank and Savings Company | 42068 State Route 7 Tuppers Plains, OH 45783 | Full Service B&M | $33,847 |
| The Farmers Bank and Savings Company | 424 Second Street Mason, WV 25260 | Full Service B&M | $36,720 |
| The Farmers Bank and Savings Company | 640 East Main Street Pomeroy, OH 45769 | Full Service B&M | $103,738 |
For 2018, The Farmers Bank & Savings Company had 7 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $14,168 |
| Net interest income | $11,472 |
| Total noninterest income | $2,533 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $942 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $1,591 |
| Pre-tax net operating income | $3,670 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $3,090 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $3,090 |
| Minority interest net income | $0 |
| Net income | $3,090 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $3,090 |
The Farmers Bank & Savings Company's gross interest income from loans was $14,168,000.
The Farmers Bank & Savings Company's net interest income from loans was $11,472,000.
The Farmers Bank & Savings Company's fee based income from loans was $942,000.
The Farmers Bank & Savings Company's net income from loans was $3,090,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $2,696 |
| Provision for credit losses | $180 |
| Total noninterest expense | $10,155 |
| Salaries and employee benefits | $5,330 |
| Premises and equipment expense | $1,369 |
| Additional noninterest expense | $3,456 |
| Applicable income taxes | $580 |
| Net charge-offs | $181 |
| Cash dividends | $1,070 |
The Farmers Bank & Savings Company's interest expense for loans was $2,696,000.
The Farmers Bank & Savings Company's payroll and benefits expense were $5,330,000.
The Farmers Bank & Savings Company's property, plant and equipment expenses $1,369,000.
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 | $287,040 |
| Deposits held in domestic offices | $287,040 |
| Deposits by Individuals, partnerships, and corporations | $268,642 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $18,398 |
| Deposits by Commercial banks and other depository institutions in U.S. | $0 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $97,038 |
| Demand deposits | $56,208 |
| Nontransaction accounts | $190,002 |
| Money market deposit accounts (MMDAs) | $30,552 |
| Other savings deposits (excluding MMDAs) | $46,920 |
| Total time deposits | $112,529 |
| Total time and savings deposits | $230,832 |
| Noninterest-bearing deposits | $56,208 |
| Interest-bearing deposits | $230,832 |
| Retail deposits | $272,372 |
| IRAs and Keogh plan accounts | $22,177 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $322,911 |
| Cash & Balances due from depository institutions | $13,325 |
| Interest-bearing balances | $9,992 |
| Total securities | $54,115 |
| Federal funds sold & reverse repurchase | $34 |
| Net loans and leases | $231,859 |
| Loan and leases loss allowance | $2,546 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $13,757 |
| Other real estate owned | $558 |
| Goodwill and other intangibles | $0 |
| All other assets | $9,263 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $322,911 |
| Total Liabilities | $289,973 |
| Total deposits | $287,040 |
| Interest-bearing deposits | $230,832 |
| Deposits held in domestic offices | $287,040 |
| % insured (estimated) | $89 |
| Federal funds purchased and repurchase agreements | $52 |
| Trading liabilities | $0 |
| Other borrowed funds | $2,000 |
| Subordinated debt | $0 |
| All other liabilities | $881 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $231,859 |
| Loan and leases loss allowance | $2,546 |
| Total loans and leases (domestic) | $234,405 |
| All real estate loans | $202,169 |
| Real estate loans in domestic offices | $202,169 |
| Construction and development loans | $8,332 |
| Residential 1-4 family construction | $3,105 |
| Other construction, all land development and other land | $5,227 |
| Loans secured by nonfarm nonresidential properties | $48,724 |
| Nonfarm nonresidential secured by owner-occupied properties | $39,507 |
| Commercial real estate & other non-farm, non-residential | $9,217 |
| Multifamily residential real estate | $9,081 |
| 1-4 family residential loans | $131,256 |
| Farmland loans | $4,776 |
| Loans held in foreign offices | $0 |
| Farm loans | $686 |
| Commercial and industrial loans | $9,302 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $18,503 |
| Credit card loans | $0 |
| Related Plans | $55 |
| Consumer Auto Loans | $13,376 |
| Other loans to individuals | $5,072 |
| All other loans & leases | $3,745 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $119 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $0 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $1,070 |
| Non 1-4 family restructured loans & leases | $888 |
| Total loans and leases (foreign) | $0 |
The Farmers Bank & Savings Company had $231,859,000 of loans outstanding in 2018. $202,169,000 of loans were in real estate loans. $8,332,000 of loans were in development loans. $9,081,000 of loans were in multifamily mortgage loans. $131,256,000 of loans were in 1-4 family mortgage loans. $686,000 of loans were in farm loans. $0 of loans were in credit card loans. $13,376,000 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 | 107 | $20,098 | $187,832 |
| Nonfarm, nonresidential loans - <$100k | 42 | $1,822 | $43,381 |
| Nonfarm, nonresidential loans - $100-250k | 29 | $3,776 | $130,207 |
| Nonfarm, nonresidential loans - $250k-1MM | 36 | $14,500 | $402,778 |
| Commercial & Industrial, US addressed loans - <$1MM | 98 | $4,459 | $45,500 |
| Commercial & Industrial, US addressed loans - <$100k | 89 | $2,613 | $29,360 |
| Commercial & Industrial, US addressed loans - $100-250k | 5 | $634 | $126,800 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 4 | $1,212 | $303,000 |
| Farmland loans - <$1MM | 11 | $1,332 | $121,091 |
| Farmland loans - <$100k | 5 | $219 | $43,800 |
| Farmland loans - $100-250k | 4 | $495 | $123,750 |
| Farmland loans - $250k-1MM | 2 | $618 | $309,000 |
| Agriculture operations loans - <$1MM | 98 | $686 | $7,000 |
| Agriculture operations loans - <$100k | 98 | $686 | $7,000 |