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

Pomeroy, OH

LEI: 25490074WALW1U7G4555

Tax ID: 31-4177210

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Mortgage Data

  • Originations
  • 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)

    • Bank Data

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

    • Review & Overview

    The Farmers Bank & Savings Company is a smaller bank specializing in Refi and Home Purchase 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, Charleston, Jackson, and Parkersburg among others. We have data for 10 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.

    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

    281

    Origination Dollar Volume (All Markets)

    $31,135,000

    Employee count

    81

    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) 131 $12,615,000 $96,298 $0 0.00%
    Outside of Metro Areas 89 $9,805,000 $110,169 $0 0.00%
    HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) 30 $5,200,000 $173,333 $0 0.00%
    CHARLESTON, WV (FHA|USDA|VA) 14 $1,470,000 $105,000 $0 0.00%
    Jackson, OH (FHA|USDA|VA) 5 $715,000 $143,000 $0 0.00%
    PARKERSBURG-VIENNA, WV (FHA|USDA|VA) 3 $515,000 $171,667 $0 0.00%
    Athens, OH (FHA|USDA|VA) 5 $365,000 $73,000 $0 0.00%
    Marietta, OH (FHA|USDA|VA) 2 $220,000 $110,000 $0 0.00%
    Sevierville, TN (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
    COLUMBUS, OH (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%
    The Farmers Bank & Savings Company's top markets include Point Pleasant, Huntington, Charleston, Jackson, and Parkersburg among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 279 $30,965,000 $110,986 $0 0.00%
    USDA 2 $170,000 $85,000 $0 0.00%

    For 2020, The Farmers Bank & Savings Company's most frequently originated type of loan was Conventional, with 279 originations. Their 2nd most popular type was USDA, with 2 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 154 $18,020,000 $117,013 $0 0.00%
    Home Purchase 113 $12,165,000 $107,655 $0 0.00%
    Home Improvement 10 $740,000 $74,000 $0 0.00%
    Other 4 $210,000 $52,500 $0 0.00%

    For 2020, The Farmers Bank & Savings Company's most frequently cited loan purpose was Refi, with 154 originations. The 2nd most popular reason was Home Purchase, with 113 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 281 $31,135,000 $110,801 $0 0.00%

    For 2020, The Farmers Bank & Savings Company's most frequently cited loan duration was Other, with 281 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 153 $9,375,000 $61,275 $0 0.00%
    $100k-200k 97 $13,525,000 $139,433 $0 0.00%
    $200k-400k 29 $7,375,000 $254,310 $0 0.00%
    $400k-600k 2 $860,000 $430,000 $0 0.00%

    2020 saw The Farmers Bank & Savings Company place emphasis on $100,000 or less loans with 153 originations, totaling $9,375,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 87 $9,055,000 $104,080 $0 0.00%
    $50k or less 53 $3,765,000 $71,038 $0 0.00%
    $100k-150k 43 $6,185,000 $143,837 $0 0.00%
    $75k-100k 41 $4,115,000 $100,366 $0 0.00%
    $150k-250k 14 $3,200,000 $228,571 $0 0.00%
    $250k+ 4 $830,000 $207,500 $0 0.00%

    The Farmers Bank & Savings Company lent most frequently to those with incomes in the $50k-75k range, with 87 originations. The second most popular income band? $50k or less, with 53 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 281 $31,135,000 $110,801 $0 0.00%

    The Farmers Bank & Savings Company lent most frequently to those with DTI ratios of Exempt%, with 281 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 249 $27,845,000 $111,827 $0 0.00%
    Not applicable 27 $2,535,000 $93,889 $0 0.00%
    Not provided 4 $670,000 $167,500 $0 0.00%
    American Indian 1 $85,000 $85,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    75.34%

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

    Pick Rate

    Approvals leading to origination
    82.21%

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

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 281 $31,135,000 $110,801

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $420,000 $210,000
    Single Family (1-4 Units):Manufactured 56 $4,750,000 $84,821
    Single Family (1-4 Units):Site-Built 223 $25,965,000 $116,435

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    The Farmers Bank and Savings Company 211 W Main St Pomeroy, OH 45769 Limited, Drive-thru $13,044
    The Farmers Bank and Savings Company 164 Upper River Rd Gallipolis, OH 45631 Full Service B&M $62,951
    The Farmers Bank and Savings Company 1716 Jefferson Boulevard Point Pleasant, WV 25550 Full Service B&M $38,495
    The Farmers Bank and Savings Company 3572 Teays Valley Road Hurricane, WV 25526 Full Service B&M $23,229
    The Farmers Bank and Savings Company 42068 State Route 7 Tuppers Plains, OH 45783 Full Service B&M $40,620
    The Farmers Bank and Savings Company 424 Second Street Mason, WV 25260 Full Service B&M $37,860
    The Farmers Bank and Savings Company 640 East Main Street Pomeroy, OH 45769 Full Service B&M $112,474

    For 2020, The Farmers Bank & Savings Company had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $15,066
    Net interest income $12,173
    Total noninterest income $2,379
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $811
    Trading account gains and fees $0
    Additional Noninterest Income $1,568
    Pre-tax net operating income $3,628
    Securities gains (or losses, -) $0
    Income before extraordinary items $2,931
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,931
    Minority interest net income $0
    Net income $2,931
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,931

    The Farmers Bank & Savings Company's gross interest income from loans was $15,066,000.
    The Farmers Bank & Savings Company's net interest income from loans was $12,173,000.
    The Farmers Bank & Savings Company's fee based income from loans was $811,000.
    The Farmers Bank & Savings Company's net income from loans was $2,931,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,893
    Provision for credit losses $670
    Total noninterest expense $10,254
    Salaries and employee benefits $5,306
    Premises and equipment expense $1,417
    Additional noninterest expense $3,531
    Applicable income taxes $697
    Net charge-offs $324
    Cash dividends $1,710

    The Farmers Bank & Savings Company's interest expense for loans was $2,893,000.
    The Farmers Bank & Savings Company's payroll and benefits expense were $5,306,000.
    The Farmers Bank & Savings Company's property, plant and equipment expenses $1,417,000.

    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 2.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    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 $332,103
    Deposits held in domestic offices $332,103
    Deposits by Individuals, partnerships, and corporations $309,883
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $22,220
    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 $129,815
    Demand deposits $78,778
    Nontransaction accounts $202,288
    Money market deposit accounts (MMDAs) $31,002
    Other savings deposits (excluding MMDAs) $54,835
    Total time deposits $116,450
    Total time and savings deposits $253,325
    Noninterest-bearing deposits $78,778
    Interest-bearing deposits $253,325
    Retail deposits $316,886
    IRAs and Keogh plan accounts $21,966
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $371,405
    Cash & Balances due from depository institutions $35,808
    Interest-bearing balances $27,893
    Total securities $62,377
    Federal funds sold & reverse repurchase $210
    Net loans and leases $250,761
    Loan and leases loss allowance $2,930
    Trading account assets $0
    Bank premises and fixed assets $12,893
    Other real estate owned $257
    Goodwill and other intangibles $0
    All other assets $9,099

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $371,405
    Total Liabilities $334,013
    Total deposits $332,103
    Interest-bearing deposits $253,325
    Deposits held in domestic offices $332,103
    % insured (estimated) $88
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $1,000
    Subordinated debt $0
    All other liabilities $910

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $250,761
    Loan and leases loss allowance $2,930
    Total loans and leases (domestic) $253,691
    All real estate loans $202,453
    Real estate loans in domestic offices $202,453
    Construction and development loans $6,047
    Residential 1-4 family construction $3,795
    Other construction, all land development and other land $2,252
    Loans secured by nonfarm nonresidential properties $54,633
    Nonfarm nonresidential secured by owner-occupied properties $48,103
    Commercial real estate & other non-farm, non-residential $6,530
    Multifamily residential real estate $6,500
    1-4 family residential loans $130,153
    Farmland loans $5,120
    Loans held in foreign offices $0
    Farm loans $972
    Commercial and industrial loans $31,855
    To non-U.S. addressees $0
    Loans to individuals $15,972
    Credit card loans $0
    Related Plans $44
    Consumer Auto Loans $11,225
    Other loans to individuals $4,703
    All other loans & leases $2,439
    Loans to foreign governments and official institutions $0
    Other loans $71
    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 $1,050
    Non 1-4 family restructured loans & leases $835
    Total loans and leases (foreign) $0

    The Farmers Bank & Savings Company had $250,761,000 of loans outstanding in 2020. $202,453,000 of loans were in real estate loans. $6,047,000 of loans were in development loans. $6,500,000 of loans were in multifamily mortgage loans. $130,153,000 of loans were in 1-4 family mortgage loans. $972,000 of loans were in farm loans. $0 of loans were in credit card loans. $11,225,000 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 135 $26,615 $197,148
    Nonfarm, nonresidential loans - <$100k 40 $1,513 $37,825
    Nonfarm, nonresidential loans - $100-250k 42 $5,116 $121,810
    Nonfarm, nonresidential loans - $250k-1MM 53 $19,986 $377,094
    Commercial & Industrial, US addressed loans - <$1MM 508 $22,832 $44,945
    Commercial & Industrial, US addressed loans - <$100k 458 $10,679 $23,317
    Commercial & Industrial, US addressed loans - $100-250k 27 $3,484 $129,037
    Commercial & Industrial, US addressed loans - $250k-1MM 23 $8,669 $376,913
    Farmland loans - <$1MM 96 $4,109 $42,802
    Farmland loans - <$100k 81 $2,299 $28,383
    Farmland loans - $100-250k 14 $1,589 $113,500
    Farmland loans - $250k-1MM 1 $221 $221,000
    Agriculture operations loans - <$1MM 82 $972 $11,854
    Agriculture operations loans - <$100k 80 $539 $6,738
    Agriculture operations loans - $100-250k 2 $433 $216,500