Farmers Bank Mortgage Rates, Fees & Info

Buhl, ID

LEI: 254900GRNKKCY7NMXC23

Tax ID: 82-0118025

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

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  • SimulatedRates™
  • Mortgage Calculator

    • 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

    Farmers Bank is a smaller bank specializing in Cash Out Refi, Home Purchase, and Refi loans. Farmers Bank has a high proportion of conventional loans. Their top markets by origination volume include: Twin Falls, Boise City, St. George, Logan, and Rexburg among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Farmers Bank has an above average approval rate when compared to the average across all lenders. They have an above 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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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    15 Year Conventional Purchase 6.43% 5/4/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Farmers Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Farmers Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    73

    Origination Dollar Volume (All Markets)

    $7,285,000

    Employee count

    86

    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
    TWIN FALLS, ID (FHA|USDA|VA) 57 $5,335,000 $93,596 $1,343 5.96%
    BOISE CITY, ID (FHA|USDA|VA) 3 $465,000 $155,000 $2,381 6.17%
    ST. GEORGE, UT (FHA|USDA|VA) 1 $375,000 $375,000 $0 5.25%
    Outside of Metro Areas 5 $255,000 $51,000 $848 6.15%
    LOGAN, UT-ID (FHA|USDA|VA) 1 $255,000 $255,000 $0 5.25%
    Rexburg, ID (FHA|USDA|VA) 1 $215,000 $215,000 $0 5.75%
    Hailey, ID (FHA|USDA|VA) 2 $170,000 $85,000 $1,540 6.13%
    Burley, ID (FHA|USDA|VA) 2 $170,000 $85,000 $866 6.13%
    Mountain Home, ID (FHA|USDA|VA) 1 $45,000 $45,000 $894 5.50%
    Farmers Bank's top markets include Twin Falls, Boise City, St. George, Logan, and Rexburg among others.

    Their top states include:
  • Idaho (FHA|USDA|VA)
  • Utah (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 72 $7,220,000 $100,278 $1,320 5.96%
    HELOC 1 $65,000 $65,000 n/a 6.50%

    For 2019, Farmers Bank's most frequently originated type of loan was Conventional, with 72 originations. Their 2nd most popular type was HELOC, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 27 $1,655,000 $61,296 $731 5.97%
    Home Purchase 26 $3,970,000 $152,692 $2,105 5.92%
    Refi 17 $1,475,000 $86,765 $887 6.03%
    Home Improvement 2 $160,000 $80,000 $2,953 5.88%
    Other 1 $25,000 $25,000 $683 6.00%

    For 2019, Farmers Bank's most frequently cited loan purpose was Cash Out Refi, with 27 originations. The 2nd most popular reason was Home Purchase, with 26 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 36 $2,580,000 $71,667 $1,030 6.07%
    10 Year 18 $2,460,000 $136,667 $0 5.67%
    1 Year 10 $1,420,000 $142,000 $2,840 6.10%
    5 Year 8 $680,000 $85,000 $837 6.00%
    15 Year 1 $145,000 $145,000 $0 6.00%

    For 2019, Farmers Bank's most frequently cited loan duration was Other, with 36 originations. The 2nd most popular length was 10 Year, with 18 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 42 $3,470,000 $82,619
    $1k-2k 1 $135,000 $135,000

    Farmers Bank's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 42 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 40 $4,060,000 $101,500
    6-7% 31 $2,945,000 $95,000
    4-5% 2 $280,000 $140,000

    During 2019, Farmers Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 40 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 49 $2,425,000 $49,490 $797 6.02%
    $100k-200k 12 $1,600,000 $133,333 $2,914 5.98%
    $200k-400k 11 $2,815,000 $255,909 $3,097 5.68%
    $400k-600k 1 $445,000 $445,000 $3,338 6.25%

    2019 saw Farmers Bank place emphasis on $100,000 or less loans with 49 originations, totaling $2,425,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 17 $1,145,000 $67,353 $1,385 6.12%
    $50k-75k 15 $1,035,000 $69,000 $1,173 6.15%
    $100k-150k 11 $975,000 $88,636 $1,304 5.89%
    $75k-100k 10 $1,060,000 $106,000 $1,035 6.08%
    $250k+ 5 $1,305,000 $261,000 $3,338 5.70%
    $150k-250k 3 $405,000 $135,000 $2,226 5.75%

    Farmers Bank lent most frequently to those with incomes in the $50k or less range, with 17 originations. The second most popular income band? $50k-75k, with 15 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 13 $1,325,000 $101,923 $2,121 6.04%
    <20% 9 $915,000 $101,667 $650 5.67%
    20-30% 9 $885,000 $98,333 $1,170 6.19%
    30-36% 8 $810,000 $101,250 $1,230 5.94%
    48% 3 $95,000 $31,667 $532 6.42%
    47% 3 $175,000 $58,333 $866 6.17%
    >60% 2 $520,000 $260,000 $3,354 5.88%
    38% 2 $420,000 $210,000 $2,381 6.25%
    39% 2 $50,000 $25,000 $537 6.13%
    42% 2 $90,000 $45,000 $944 6.50%
    44% 2 $110,000 $55,000 $793 6.13%
    46% 1 $45,000 $45,000 $786 6.00%
    45% 1 $95,000 $95,000 $0 6.50%
    43% 1 $205,000 $205,000 $0 5.00%
    49% 1 $105,000 $105,000 $0 6.00%
    40% 1 $25,000 $25,000 $647 5.50%
    36% 1 $55,000 $55,000 $879 6.25%

    Farmers Bank lent most frequently to those with DTI ratios of 50-60%, with 13 originations. The next most common DTI ratio? <20%, with 9 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 60 $5,550,000 $92,500 $1,320 6.04%
    Not applicable 12 $1,360,000 $113,333 $0 5.67%
    Asian 1 $375,000 $375,000 $0 5.25%

    Approval Rates

    Total approvals of all applications
    93.98%

    Farmers Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    93.15%

    Farmers Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 73 $7,285,000 $99,795

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $285,000 $285,000
    Single Family (1-4 Units):Manufactured 15 $915,000 $61,000
    Single Family (1-4 Units):Site-Built 57 $6,085,000 $106,754

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 14 $840,000 $60,000 $842 6.05%
    40-60% 18 $1,810,000 $100,556 $1,699 5.89%
    60-80% 23 $3,585,000 $155,870 $1,754 5.98%
    80-100% 4 $570,000 $142,500 $2,916 6.00%
    Under 20% 14 $480,000 $34,286 $734 5.95%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Farmers Bank 1097 Blue Lakes Boulevard North Twin Falls, ID 83301 Full Service B&M $21,035
    Farmers Bank 1441 South Lincoln Jerome, ID 83338 Full Service B&M $39,867
    Farmers Bank 160 South Idaho St Wendell, ID 83355 Full Service B&M $79,812
    Farmers Bank 341 Poleline Road Twin Falls, ID 83301 Full Service B&M $33,588
    Farmers Bank 890 Shoshone Street Twin Falls, ID 83301 Full Service B&M $102,518
    Farmers Bank 914 Main Street Buhl, ID 83316 Full Service B&M $101,156

    For 2019, Farmers Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $18,423
    Net interest income $17,250
    Total noninterest income $2,352
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $697
    Trading account gains and fees $0
    Additional Noninterest Income $1,655
    Pre-tax net operating income $8,931
    Securities gains (or losses, -) $1
    Income before extraordinary items $7,071
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $7,071
    Minority interest net income $0
    Net income $7,071
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $7,070

    Farmers Bank's gross interest income from loans was $18,423,000.
    Farmers Bank's net interest income from loans was $17,250,000.
    Farmers Bank's fee based income from loans was $697,000.
    Farmers Bank's net income from loans was $7,071,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,173
    Provision for credit losses $0
    Total noninterest expense $10,671
    Salaries and employee benefits $6,413
    Premises and equipment expense $1,304
    Additional noninterest expense $2,954
    Applicable income taxes $1,861
    Net charge-offs $-118
    Cash dividends $4,965

    Farmers Bank's interest expense for loans was $1,173,000.
    Farmers Bank's payroll and benefits expense were $6,413,000.
    Farmers Bank's property, plant and equipment expenses $1,304,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 3.0%
    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 $400,043
    Deposits held in domestic offices $400,043
    Deposits by Individuals, partnerships, and corporations $389,343
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $10,700
    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 $49,227
    Demand deposits $35,700
    Nontransaction accounts $350,816
    Money market deposit accounts (MMDAs) $77,233
    Other savings deposits (excluding MMDAs) $195,101
    Total time deposits $78,482
    Total time and savings deposits $364,343
    Noninterest-bearing deposits $103,497
    Interest-bearing deposits $296,546
    Retail deposits $381,331
    IRAs and Keogh plan accounts $20,465
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $471,264
    Cash & Balances due from depository institutions $38,246
    Interest-bearing balances $28,425
    Total securities $150,739
    Federal funds sold & reverse repurchase $8,349
    Net loans and leases $265,756
    Loan and leases loss allowance $6,142
    Trading account assets $0
    Bank premises and fixed assets $1,310
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $6,864

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $471,264
    Total Liabilities $400,706
    Total deposits $400,043
    Interest-bearing deposits $296,546
    Deposits held in domestic offices $400,043
    % insured (estimated) $81
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $663

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $265,756
    Loan and leases loss allowance $6,142
    Total loans and leases (domestic) $271,898
    All real estate loans $132,368
    Real estate loans in domestic offices $132,368
    Construction and development loans $20,939
    Residential 1-4 family construction $2,820
    Other construction, all land development and other land $18,119
    Loans secured by nonfarm nonresidential properties $34,101
    Nonfarm nonresidential secured by owner-occupied properties $22,185
    Commercial real estate & other non-farm, non-residential $11,916
    Multifamily residential real estate $2,834
    1-4 family residential loans $28,197
    Farmland loans $46,297
    Loans held in foreign offices $0
    Farm loans $72,207
    Commercial and industrial loans $57,177
    To non-U.S. addressees $0
    Loans to individuals $9,130
    Credit card loans $615
    Related Plans $293
    Consumer Auto Loans $4,243
    Other loans to individuals $3,979
    All other loans & leases $1,016
    Loans to foreign governments and official institutions $0
    Other loans $111
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $1,082
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $380
    Non 1-4 family restructured loans & leases $380
    Total loans and leases (foreign) $0

    FARMERS BANK had $265,756,000 of loans outstanding in 2019. $132,368,000 of loans were in real estate loans. $20,939,000 of loans were in development loans. $2,834,000 of loans were in multifamily mortgage loans. $28,197,000 of loans were in 1-4 family mortgage loans. $72,207,000 of loans were in farm loans. $615,000 of loans were in credit card loans. $4,243,000 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 108 $19,981 $185,009
    Nonfarm, nonresidential loans - <$100k 32 $1,245 $38,906
    Nonfarm, nonresidential loans - $100-250k 38 $5,162 $135,842
    Nonfarm, nonresidential loans - $250k-1MM 38 $13,574 $357,211
    Commercial & Industrial, US addressed loans - <$1MM 782 $39,868 $50,982
    Commercial & Industrial, US addressed loans - <$100k 602 $13,143 $21,832
    Commercial & Industrial, US addressed loans - $100-250k 125 $11,710 $93,680
    Commercial & Industrial, US addressed loans - $250k-1MM 55 $15,015 $273,000
    Farmland loans - <$1MM 173 $23,264 $134,474
    Farmland loans - <$100k 57 $2,664 $46,737
    Farmland loans - $100-250k 69 $8,440 $122,319
    Farmland loans - $250k-1MM 47 $12,160 $258,723
    Agriculture operations loans - <$1MM 643 $27,055 $42,076
    Agriculture operations loans - <$100k 474 $9,985 $21,065
    Agriculture operations loans - $100-250k 119 $8,849 $74,361
    Agriculture operations loans - $250k-1MM 50 $8,221 $164,420