F & M Community Bank Mortgage Rates, Fees & Info

Preston, MN

LEI: 2549008O36ZLTWMCKU62

Tax ID: 41-0249780

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

    F & M Community Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. F & M Community Bank has a high proportion of conventional loans. Their top markets by origination volume include: Rochester, Minneapolis, Red Wing, Winona, and Spirit Lake among others. We have data for 10 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.

    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

    171

    Origination Dollar Volume (All Markets)

    $38,725,000

    Employee count

    36

    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) 152 $32,170,000 $211,645 $0 0.00%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 3 $1,565,000 $521,667 $0 0.00%
    Red Wing, MN (FHA|USDA|VA) 3 $1,395,000 $465,000 $0 0.00%
    Winona, MN (FHA|USDA|VA) 4 $940,000 $235,000 $0 0.00%
    Spirit Lake, IA (FHA|USDA|VA) 1 $665,000 $665,000 $0 0.00%
    Outside of Metro Areas 1 $515,000 $515,000 $0 0.00%
    DULUTH, MN-WI (FHA|USDA|VA) 2 $460,000 $230,000 $0 0.00%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $455,000 $455,000 $0 0.00%
    Austin, MN (FHA|USDA|VA) 2 $340,000 $170,000 $0 0.00%
    LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 2 $220,000 $110,000 $0 0.00%
    F & M Community Bank's top markets include Rochester, Minneapolis, Red Wing, Winona, and Spirit Lake among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 171 $38,725,000 $226,462 $0 0.00%

    For 2021, F & M Community Bank's most frequently originated type of loan was Conventional, with 171 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 67 $18,445,000 $275,299 $0 0.00%
    Cash Out Refi 63 $12,315,000 $195,476 $0 0.00%
    Refi 37 $7,655,000 $206,892 $0 0.00%
    Home Improvement 2 $150,000 $75,000 $0 0.00%
    Other 2 $160,000 $80,000 $0 0.00%

    For 2021, F & M Community Bank's most frequently cited loan purpose was Home Purchase, with 67 originations. The 2nd most popular reason was Cash Out Refi, with 63 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 171 $38,725,000 $226,462 $0 0.00%

    For 2021, F & M Community Bank's most frequently cited loan duration was Other, with 171 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 65 $9,335,000 $143,615 $0 0.00%
    $200k-400k 63 $16,705,000 $265,159 $0 0.00%
    $100,000 or less 26 $2,030,000 $78,077 $0 0.00%
    $400k-600k 10 $4,860,000 $486,000 $0 0.00%
    $600k-1MM 6 $4,550,000 $758,333 $0 0.00%
    $1MM+ 1 $1,245,000 $1,245,000 $0 0.00%

    2021 saw F & M Community Bank place emphasis on $100k-200k loans with 65 originations, totaling $9,335,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 32 $4,800,000 $150,000 $0 0.00%
    $100k-150k 31 $7,805,000 $251,774 $0 0.00%
    $50k or less 30 $3,760,000 $125,333 $0 0.00%
    $75k-100k 28 $5,160,000 $184,286 $0 0.00%
    $150k-250k 22 $7,420,000 $337,273 $0 0.00%
    $250k+ 8 $3,340,000 $417,500 $0 0.00%

    F & M Community Bank lent most frequently to those with incomes in the $50k-75k range, with 32 originations. The second most popular income band? $100k-150k, with 31 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 171 $38,725,000 $226,462 $0 0.00%

    F & M Community Bank lent most frequently to those with DTI ratios of Exempt%, with 171 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 139 $30,315,000 $218,094 $0 0.00%
    Not applicable 14 $5,260,000 $375,714 $0 0.00%
    Not provided 15 $2,255,000 $150,333 $0 0.00%
    Asian 1 $515,000 $515,000 $0 0.00%
    American Indian 1 $265,000 $265,000 $0 0.00%
    Asian Indian 1 $115,000 $115,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.10%

    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
    84.80%

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

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 171 $38,725,000 $226,462

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    171 $38,725,000 $226,462

    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 $80,959
    F & M Community Bank, National Association 229 Main Street North Chatfield, MN 55923 Full Service B&M $37,458
    F & M Community Bank, National Association 2768 Superior Drive Nw Rochester, MN 55901 Full Service B&M $40,916

    For 2021, F & M Community Bank had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $6,579
    Net interest income $6,181
    Total noninterest income $1,473
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $157
    Trading account gains and fees $0
    Additional Noninterest Income $1,316
    Pre-tax net operating income $2,134
    Securities gains (or losses, -) $0
    Income before extraordinary items $2,132
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,132
    Minority interest net income $0
    Net income $2,132
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,132

    F & M Community Bank's gross interest income from loans was $6,579,000.
    F & M Community Bank's net interest income from loans was $6,181,000.
    F & M Community Bank's fee based income from loans was $157,000.
    F & M Community Bank's net income from loans was $2,132,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $398
    Provision for credit losses $50
    Total noninterest expense $5,470
    Salaries and employee benefits $3,417
    Premises and equipment expense $435
    Additional noninterest expense $1,618
    Applicable income taxes $2
    Net charge-offs $19
    Cash dividends $1,375

    F & M Community Bank's interest expense for loans was $398,000.
    F & M Community Bank's payroll and benefits expense were $3,417,000.
    F & M Community Bank's property, plant and equipment expenses $435,000.

    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 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 $160,339
    Deposits held in domestic offices $160,339
    Deposits by Individuals, partnerships, and corporations $136,781
    Deposits by U.S. Government $1
    Deposits by States and political subdivisions in the U.S. $23,557
    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 $90,140
    Demand deposits $60,559
    Nontransaction accounts $70,199
    Money market deposit accounts (MMDAs) $24,331
    Other savings deposits (excluding MMDAs) $26,087
    Total time deposits $19,781
    Total time and savings deposits $99,780
    Noninterest-bearing deposits $52,605
    Interest-bearing deposits $107,734
    Retail deposits $157,249
    IRAs and Keogh plan accounts $1,903
    Brokered deposits $13
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $178,560
    Cash & Balances due from depository institutions $6,717
    Interest-bearing balances $3,306
    Total securities $47,358
    Federal funds sold & reverse repurchase $0
    Net loans and leases $114,789
    Loan and leases loss allowance $1,422
    Trading account assets $0
    Bank premises and fixed assets $2,298
    Other real estate owned $99
    Goodwill and other intangibles $445
    All other assets $6,854

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $178,560
    Total Liabilities $161,274
    Total deposits $160,339
    Interest-bearing deposits $107,734
    Deposits held in domestic offices $160,339
    % insured (estimated) $77
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $935

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $114,789
    Loan and leases loss allowance $1,422
    Total loans and leases (domestic) $116,211
    All real estate loans $92,804
    Real estate loans in domestic offices $92,804
    Construction and development loans $4,558
    Residential 1-4 family construction $2,236
    Other construction, all land development and other land $2,322
    Loans secured by nonfarm nonresidential properties $30,130
    Nonfarm nonresidential secured by owner-occupied properties $11,560
    Commercial real estate & other non-farm, non-residential $18,570
    Multifamily residential real estate $6,412
    1-4 family residential loans $29,234
    Farmland loans $22,470
    Loans held in foreign offices $0
    Farm loans $12,441
    Commercial and industrial loans $7,865
    To non-U.S. addressees $0
    Loans to individuals $2,237
    Credit card loans $0
    Related Plans $149
    Consumer Auto Loans $1,204
    Other loans to individuals $884
    All other loans & leases $864
    Loans to foreign governments and official institutions $0
    Other loans $10
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    F & M Community Bank had $114,789,000 of loans outstanding in 2021. $92,804,000 of loans were in real estate loans. $4,558,000 of loans were in development loans. $6,412,000 of loans were in multifamily mortgage loans. $29,234,000 of loans were in 1-4 family mortgage loans. $12,441,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,204,000 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 69 $14,676 $212,696
    Nonfarm, nonresidential loans - <$100k 18 $756 $42,000
    Nonfarm, nonresidential loans - $100-250k 20 $2,400 $120,000
    Nonfarm, nonresidential loans - $250k-1MM 31 $11,520 $371,613
    Commercial & Industrial, US addressed loans - <$1MM 112 $6,210 $55,446
    Commercial & Industrial, US addressed loans - <$100k 83 $1,374 $16,554
    Commercial & Industrial, US addressed loans - $100-250k 16 $1,837 $114,813
    Commercial & Industrial, US addressed loans - $250k-1MM 13 $2,999 $230,692
    Farmland loans - <$1MM 64 $9,892 $154,563
    Farmland loans - <$100k 18 $711 $39,500
    Farmland loans - $100-250k 23 $2,464 $107,130
    Farmland loans - $250k-1MM 23 $6,717 $292,043
    Agriculture operations loans - <$1MM 60 $3,598 $59,967
    Agriculture operations loans - <$100k 36 $727 $20,194
    Agriculture operations loans - $100-250k 12 $830 $69,167
    Agriculture operations loans - $250k-1MM 12 $2,041 $170,083