F & M Community Bank Mortgage Rates, Fees & Info

Preston, MN

LEI: 2549008O36ZLTWMCKU62

Tax ID: 41-0249780

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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

    F & M Community Bank is a smaller bank specializing in Home Purchase loans. F & M Community Bank has a high proportion of conventional loans. F & M Community Bank has a low ratio of conventional loans. Their top markets by origination volume include: Rochester, Minneapolis, La Crosse, Red Wing, and Winona among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    F & M Community Bank has an above 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

    71

    Origination Dollar Volume (All Markets)

    $297,295,000

    Employee count

    31

    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
    ROCHESTER, MN (FHA|USDA|VA) 60 $295,710,000 $4,928,500 $1,905 4.96%
    Outside of Metro Areas 3 $635,000 $211,667 $4,085 4.25%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 3 $465,000 $155,000 $0 0.00%
    LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 2 $250,000 $125,000 $0 0.00%
    Red Wing, MN (FHA|USDA|VA) 1 $145,000 $145,000 $3,339 5.25%
    Winona, MN (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.00%
    Austin, MN (FHA|USDA|VA) 1 $45,000 $45,000 $0 5.13%
    F & M Community Bank's top markets include Rochester, Minneapolis, La Crosse, Red Wing, and Winona among others.

    Their top states include:
  • Minnesota (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 45 $294,365,000 $6,541,444 $0 0.00%
    Conventional 26 $2,930,000 $112,692 $2,062 4.95%

    For 2018, F & M Community Bank's most frequently originated type of loan was Conventional, with 45 originations. Their 2nd most popular type was Conventional, with 26 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 36 $293,670,000 $8,157,500 $2,744 4.83%
    Refi 17 $1,625,000 $95,588 $1,680 4.69%
    Home Improvement 7 $335,000 $47,857 $688 5.63%
    Cash Out Refi 7 $1,125,000 $160,714 $0 5.04%
    Other 4 $540,000 $135,000 $0 0.00%

    For 2018, F & M Community Bank's most frequently cited loan purpose was Home Purchase, with 36 originations. The 2nd most popular reason was Refi, with 17 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 70 $297,000,000 $4,242,857 $2,062 4.95%
    30 Year 1 $295,000 $295,000 $0 0.00%

    For 2018, F & M Community Bank's most frequently cited loan duration was Other, with 70 originations. The 2nd most popular length was 30 Year, with 1 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 14 $1,510,000 $107,857
    $<1k 8 $480,000 $60,000
    $2k-3k 1 $225,000 $225,000

    F & M Community Bank's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 14 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 11 $1,805,000 $164,091
    5-6% 11 $555,000 $50,455
    3-4% 1 $35,000 $35,000

    During 2018, F & M Community Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 11 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 34 $1,810,000 $53,235 $1,488 5.18%
    $100k-200k 20 $2,870,000 $143,500 $2,919 4.63%
    $200k-400k 14 $3,710,000 $265,000 $2,551 4.55%
    $400k-600k 2 $900,000 $450,000 $0 0.00%
    $1MM+ 1 $288,005,000 $288,005,000 $0 0.00%

    2018 saw F & M Community Bank place emphasis on $100,000 or less loans with 34 originations, totaling $1,810,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 26 $1,980,000 $76,154 $2,011 4.95%
    $100k-150k 18 $3,130,000 $173,889 $1,647 4.88%
    $75k-100k 12 $1,490,000 $124,167 $1,190 5.75%
    $150k-250k 7 $289,595,000 $41,370,714 $0 4.95%
    $50k-75k 6 $950,000 $158,333 $3,286 4.75%
    $250k+ 1 $105,000 $105,000 $0 0.00%

    F & M Community Bank lent most frequently to those with incomes in the $50k or less range, with 26 originations. The second most popular income band? $100k-150k, with 18 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 45 $294,365,000 $6,541,444 $0 0.00%
    30-36% 7 $865,000 $123,571 $2,822 4.63%
    <20% 6 $930,000 $155,000 $1,849 4.94%
    40% 2 $60,000 $30,000 $580 5.63%
    39% 1 $125,000 $125,000 $2,775 4.38%
    41% 1 $75,000 $75,000 $1,190 5.75%
    43% 1 $25,000 $25,000 $450 5.25%
    44% 1 $55,000 $55,000 $2,289 4.95%
    45% 1 $165,000 $165,000 $2,952 4.50%
    49% 1 $95,000 $95,000 $1,980 5.25%
    50-60% 1 $145,000 $145,000 $3,339 5.25%
    37% 1 $35,000 $35,000 $2,147 3.88%
    20-30% 1 $15,000 $15,000 $150 5.50%

    F & M Community Bank lent most frequently to those with DTI ratios of Exempt%, with 45 originations. The next most common DTI ratio? 30-36%, with 7 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Asian 1 $288,005,000 $288,005,000 $0 0.00%
    White 69 $9,245,000 $133,986 $2,062 4.94%
    Not applicable 1 $45,000 $45,000 $0 5.13%

    Approval Rates

    Total approvals of all applications
    95.83%

    F & M Community Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    70.42%

    F & M Community Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 45 $294,365,000 $6,541,444
    NA 26 $2,930,000 $112,692

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $375,000 $375,000
    Single Family (1-4 Units):Manufactured 1 $95,000 $95,000
    Single Family (1-4 Units):Site-Built 69 $296,825,000 $4,301,812

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 4 $280,000 $70,000 $1,715 5.21%
    40-60% 2 $170,000 $85,000 $2,493 4.81%
    60-80% 11 $1,815,000 $165,000 $2,980 4.66%
    80-100% 5 $575,000 $115,000 $2,010 4.98%
    Under 20% 4 $90,000 $22,500 $426 5.44%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    F & M Community Bank, National Association 100 St. Anthony Street North Preston, MN 55965 Full Service B&M $59,310
    F & M Community Bank, National Association 229 Main Street North Chatfield, MN 55923 Full Service B&M $24,870
    F & M Community Bank, National Association 2768 Superior Drive Nw Rochester, MN 55901 Full Service B&M $18,405

    For 2018, F & M Community Bank had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $5,589
    Net interest income $4,966
    Total noninterest income $990
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $258
    Trading account gains and fees $0
    Additional Noninterest Income $732
    Pre-tax net operating income $1,364
    Securities gains (or losses, -) $-10
    Income before extraordinary items $1,352
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,352
    Minority interest net income $0
    Net income $1,352
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,362

    F & M Community Bank's gross interest income from loans was $5,589,000.
    F & M Community Bank's net interest income from loans was $4,966,000.
    F & M Community Bank's fee based income from loans was $258,000.
    F & M Community Bank's net income from loans was $1,352,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $623
    Provision for credit losses $50
    Total noninterest expense $4,542
    Salaries and employee benefits $2,596
    Premises and equipment expense $381
    Additional noninterest expense $1,565
    Applicable income taxes $2
    Net charge-offs $0
    Cash dividends $950

    F & M Community Bank's interest expense for loans was $623,000.
    F & M Community Bank's payroll and benefits expense were $2,596,000.
    F & M Community Bank's property, plant and equipment expenses $381,000.

    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 1.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    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 $112,802
    Deposits held in domestic offices $112,802
    Deposits by Individuals, partnerships, and corporations $93,689
    Deposits by U.S. Government $1
    Deposits by States and political subdivisions in the U.S. $18,862
    Deposits by Commercial banks and other depository institutions in U.S. $250
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $54,754
    Demand deposits $32,423
    Nontransaction accounts $58,048
    Money market deposit accounts (MMDAs) $19,394
    Other savings deposits (excluding MMDAs) $17,463
    Total time deposits $21,191
    Total time and savings deposits $80,379
    Noninterest-bearing deposits $30,692
    Interest-bearing deposits $82,110
    Retail deposits $109,693
    IRAs and Keogh plan accounts $2,591
    Brokered deposits $1,502
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $132,031
    Cash & Balances due from depository institutions $5,085
    Interest-bearing balances $2,026
    Total securities $19,376
    Federal funds sold & reverse repurchase $0
    Net loans and leases $99,302
    Loan and leases loss allowance $1,378
    Trading account assets $0
    Bank premises and fixed assets $1,393
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $6,875

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $132,031
    Total Liabilities $117,495
    Total deposits $112,802
    Interest-bearing deposits $82,110
    Deposits held in domestic offices $112,802
    % insured (estimated) $82
    Federal funds purchased and repurchase agreements $3,275
    Trading liabilities $0
    Other borrowed funds $1,000
    Subordinated debt $0
    All other liabilities $418

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $99,302
    Loan and leases loss allowance $1,378
    Total loans and leases (domestic) $100,680
    All real estate loans $70,020
    Real estate loans in domestic offices $70,020
    Construction and development loans $3,374
    Residential 1-4 family construction $1,360
    Other construction, all land development and other land $2,014
    Loans secured by nonfarm nonresidential properties $17,190
    Nonfarm nonresidential secured by owner-occupied properties $10,482
    Commercial real estate & other non-farm, non-residential $6,708
    Multifamily residential real estate $4,723
    1-4 family residential loans $21,752
    Farmland loans $22,981
    Loans held in foreign offices $0
    Farm loans $16,750
    Commercial and industrial loans $9,376
    To non-U.S. addressees $0
    Loans to individuals $2,397
    Credit card loans $0
    Related Plans $210
    Consumer Auto Loans $1,316
    Other loans to individuals $871
    All other loans & leases $2,137
    Loans to foreign governments and official institutions $0
    Other loans $17
    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 $211
    Non 1-4 family restructured loans & leases $35
    Total loans and leases (foreign) $0

    F & M Community Bank had $99,302,000 of loans outstanding in 2018. $70,020,000 of loans were in real estate loans. $3,374,000 of loans were in development loans. $4,723,000 of loans were in multifamily mortgage loans. $21,752,000 of loans were in 1-4 family mortgage loans. $16,750,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,316,000 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 66 $10,227 $154,955
    Nonfarm, nonresidential loans - <$100k 24 $996 $41,500
    Nonfarm, nonresidential loans - $100-250k 23 $2,700 $117,391
    Nonfarm, nonresidential loans - $250k-1MM 19 $6,531 $343,737
    Commercial & Industrial, US addressed loans - <$1MM 105 $4,798 $45,695
    Commercial & Industrial, US addressed loans - <$100k 80 $1,366 $17,075
    Commercial & Industrial, US addressed loans - $100-250k 17 $1,565 $92,059
    Commercial & Industrial, US addressed loans - $250k-1MM 8 $1,867 $233,375
    Farmland loans - <$1MM 80 $11,355 $141,938
    Farmland loans - <$100k 22 $856 $38,909
    Farmland loans - $100-250k 37 $4,205 $113,649
    Farmland loans - $250k-1MM 21 $6,294 $299,714
    Agriculture operations loans - <$1MM 82 $4,661 $56,841
    Agriculture operations loans - <$100k 53 $785 $14,811
    Agriculture operations loans - $100-250k 15 $1,057 $70,467
    Agriculture operations loans - $250k-1MM 14 $2,819 $201,357