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

Pomeroy, OH

LEI: 25490074WALW1U7G4555

Tax ID: 31-4177210

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

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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. Their top markets by origination volume include: Point Pleasant, Huntington, Charleston, Parkersburg, and Athens 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

    229

    Origination Dollar Volume (All Markets)

    $31,855,000

    Employee count

    87

    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) 104 $12,710,000 $122,212 $0 0.00%
    Outside of Metro Areas 67 $8,185,000 $122,164 $0 0.00%
    HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) 20 $3,180,000 $159,000 $0 0.00%
    CHARLESTON, WV (FHA|USDA|VA) 16 $2,220,000 $138,750 $0 0.00%
    PARKERSBURG-VIENNA, WV (FHA|USDA|VA) 5 $2,155,000 $431,000 $0 0.00%
    Athens, OH (FHA|USDA|VA) 6 $1,510,000 $251,667 $0 0.00%
    Jackson, OH (FHA|USDA|VA) 8 $1,160,000 $145,000 $0 0.00%
    COLUMBUS, OH (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
    Sevierville, TN (FHA|USDA|VA) 1 $245,000 $245,000 $0 0.00%
    Marietta, OH (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
    The Farmers Bank & Savings Company's top markets include Point Pleasant, Huntington, Charleston, Parkersburg, and Athens 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 229 $31,855,000 $139,105 $0 0.00%

    For 2021, The Farmers Bank & Savings Company's most frequently originated type of loan was Conventional, with 229 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 142 $18,120,000 $127,606 $0 0.00%
    Home Purchase 80 $13,080,000 $163,500 $0 0.00%
    Other 4 $480,000 $120,000 $0 0.00%
    Home Improvement 3 $175,000 $58,333 $0 0.00%

    For 2021, The Farmers Bank & Savings Company's most frequently cited loan purpose was Refi, with 142 originations. The 2nd most popular reason was Home Purchase, with 80 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 229 $31,855,000 $139,105 $0 0.00%

    For 2021, The Farmers Bank & Savings Company's most frequently cited loan duration was Other, with 229 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 101 $6,125,000 $60,644 $0 0.00%
    $100k-200k 80 $11,060,000 $138,250 $0 0.00%
    $200k-400k 42 $10,550,000 $251,190 $0 0.00%
    $400k-600k 4 $1,820,000 $455,000 $0 0.00%
    $1MM+ 1 $1,495,000 $1,495,000 $0 0.00%
    $600k-1MM 1 $805,000 $805,000 $0 0.00%

    2021 saw The Farmers Bank & Savings Company place emphasis on $100,000 or less loans with 101 originations, totaling $6,125,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 55 $6,095,000 $110,818 $0 0.00%
    $100k-150k 50 $7,330,000 $146,600 $0 0.00%
    $50k or less 44 $3,770,000 $85,682 $0 0.00%
    $75k-100k 35 $4,865,000 $139,000 $0 0.00%
    $150k-250k 14 $2,170,000 $155,000 $0 0.00%
    $250k+ 11 $3,845,000 $349,545 $0 0.00%

    The Farmers Bank & Savings Company lent most frequently to those with incomes in the $50k-75k range, with 55 originations. The second most popular income band? $100k-150k, with 50 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 229 $31,855,000 $139,105 $0 0.00%

    The Farmers Bank & Savings Company lent most frequently to those with DTI ratios of Exempt%, with 229 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 205 $26,895,000 $131,195 $0 0.00%
    Not applicable 18 $3,620,000 $201,111 $0 0.00%
    Not provided 4 $770,000 $192,500 $0 0.00%
    Asian 1 $505,000 $505,000 $0 0.00%
    American Indian 1 $65,000 $65,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    78.32%

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

    Pick Rate

    Approvals leading to origination
    84.28%

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

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 229 $31,855,000 $139,105

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    229 $31,855,000 $139,105

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    The Farmers Bank and Savings Company 164 Upper River Rd Gallipolis, OH 45631 Full Service B&M $66,928
    The Farmers Bank and Savings Company 1716 Jefferson Boulevard Point Pleasant, WV 25550 Full Service B&M $39,849
    The Farmers Bank and Savings Company 211 W Main St Pomeroy, OH 45769 Limited, Drive-thru $16,696
    The Farmers Bank and Savings Company 3572 Teays Valley Road Hurricane, WV 25526 Full Service B&M $23,632
    The Farmers Bank and Savings Company 42068 State Route 7 Tuppers Plains, OH 45783 Full Service B&M $40,858
    The Farmers Bank and Savings Company 424 Second Street Mason, WV 25260 Full Service B&M $42,638
    The Farmers Bank and Savings Company 640 East Main Street Pomeroy, OH 45769 Full Service B&M $121,099

    For 2021, The Farmers Bank & Savings Company had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $15,062
    Net interest income $13,231
    Total noninterest income $2,584
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $817
    Trading account gains and fees $0
    Additional Noninterest Income $1,767
    Pre-tax net operating income $4,684
    Securities gains (or losses, -) $0
    Income before extraordinary items $3,793
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,793
    Minority interest net income $0
    Net income $3,793
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,793

    The Farmers Bank & Savings Company's gross interest income from loans was $15,062,000.
    The Farmers Bank & Savings Company's net interest income from loans was $13,231,000.
    The Farmers Bank & Savings Company's fee based income from loans was $817,000.
    The Farmers Bank & Savings Company's net income from loans was $3,793,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,831
    Provision for credit losses $-205
    Total noninterest expense $11,336
    Salaries and employee benefits $5,566
    Premises and equipment expense $1,354
    Additional noninterest expense $4,416
    Applicable income taxes $891
    Net charge-offs $68
    Cash dividends $1,775

    The Farmers Bank & Savings Company's interest expense for loans was $1,831,000.
    The Farmers Bank & Savings Company's payroll and benefits expense were $5,566,000.
    The Farmers Bank & Savings Company's property, plant and equipment expenses $1,354,000.

    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 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 1.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $357,546
    Deposits held in domestic offices $357,546
    Deposits by Individuals, partnerships, and corporations $335,921
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $21,625
    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 $151,657
    Demand deposits $99,253
    Nontransaction accounts $205,889
    Money market deposit accounts (MMDAs) $35,669
    Other savings deposits (excluding MMDAs) $66,198
    Total time deposits $104,020
    Total time and savings deposits $258,293
    Noninterest-bearing deposits $99,253
    Interest-bearing deposits $258,293
    Retail deposits $341,873
    IRAs and Keogh plan accounts $21,944
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $395,818
    Cash & Balances due from depository institutions $16,574
    Interest-bearing balances $12,071
    Total securities $111,719
    Federal funds sold & reverse repurchase $0
    Net loans and leases $244,923
    Loan and leases loss allowance $2,657
    Trading account assets $0
    Bank premises and fixed assets $12,384
    Other real estate owned $438
    Goodwill and other intangibles $0
    All other assets $9,780

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $395,818
    Total Liabilities $358,272
    Total deposits $357,546
    Interest-bearing deposits $258,293
    Deposits held in domestic offices $357,546
    % insured (estimated) $87
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $726

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $244,923
    Loan and leases loss allowance $2,657
    Total loans and leases (domestic) $247,580
    All real estate loans $208,571
    Real estate loans in domestic offices $208,571
    Construction and development loans $8,696
    Residential 1-4 family construction $4,375
    Other construction, all land development and other land $4,321
    Loans secured by nonfarm nonresidential properties $57,920
    Nonfarm nonresidential secured by owner-occupied properties $47,790
    Commercial real estate & other non-farm, non-residential $10,130
    Multifamily residential real estate $6,995
    1-4 family residential loans $130,030
    Farmland loans $4,930
    Loans held in foreign offices $0
    Farm loans $834
    Commercial and industrial loans $21,280
    To non-U.S. addressees $0
    Loans to individuals $13,817
    Credit card loans $0
    Related Plans $43
    Consumer Auto Loans $9,192
    Other loans to individuals $4,582
    All other loans & leases $3,078
    Loans to foreign governments and official institutions $0
    Other loans $87
    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 $1,000
    Non 1-4 family restructured loans & leases $798
    Total loans and leases (foreign) $0

    The Farmers Bank & Savings Company had $244,923,000 of loans outstanding in 2021. $208,571,000 of loans were in real estate loans. $8,696,000 of loans were in development loans. $6,995,000 of loans were in multifamily mortgage loans. $130,030,000 of loans were in 1-4 family mortgage loans. $834,000 of loans were in farm loans. $0 of loans were in credit card loans. $9,192,000 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 133 $27,308 $205,323
    Nonfarm, nonresidential loans - <$100k 37 $1,356 $36,649
    Nonfarm, nonresidential loans - $100-250k 43 $5,407 $125,744
    Nonfarm, nonresidential loans - $250k-1MM 53 $20,545 $387,642
    Commercial & Industrial, US addressed loans - <$1MM 412 $14,843 $36,027
    Commercial & Industrial, US addressed loans - <$100k 365 $8,182 $22,416
    Commercial & Industrial, US addressed loans - $100-250k 35 $3,880 $110,857
    Commercial & Industrial, US addressed loans - $250k-1MM 12 $2,781 $231,750
    Farmland loans - <$1MM 93 $3,963 $42,613
    Farmland loans - <$100k 77 $2,148 $27,896
    Farmland loans - $100-250k 15 $1,615 $107,667
    Farmland loans - $250k-1MM 1 $200 $200,000
    Agriculture operations loans - <$1MM 77 $834 $10,831
    Agriculture operations loans - <$100k 76 $606 $7,974
    Agriculture operations loans - $100-250k 1 $228 $228,000