Farmers National Bank Mortgage Rates, Fees & Info
Prophetstown, ILLEI: 254900LD3DEBFTITLD76
Tax ID: 36-1060090
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Mortgage Data
Bank Data
Review & Overview
Farmers National Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Farmers National Bank has a high proportion of conventional loans. Farmers National Bank has an average proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Davenport, Sterling, Chicago, Ottawa, and Dixon among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)Farmers National 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. Farmers National Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
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Originations
132Origination Dollar Volume (All Markets)
$13,390,000Employee count
48Top 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 |
|---|---|---|---|---|---|
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 54 | $5,790,000 | $107,222 | $1,207 | 5.04% |
| Sterling, IL (FHA|USDA|VA) | 63 | $5,275,000 | $83,730 | $1,062 | 5.09% |
| Outside of Metro Areas | 8 | $1,200,000 | $150,000 | $1,548 | 4.38% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $0 | 0.00% |
| Ottawa, IL (FHA|USDA|VA) | 3 | $445,000 | $148,333 | $0 | 0.00% |
| Dixon, IL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| Rochelle, IL (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 118 | $11,490,000 | $97,373 | $0 | 0.00% |
| Conventional | 11 | $1,645,000 | $149,545 | $1,185 | 5.00% |
| USDA | 3 | $255,000 | $85,000 | $0 | 0.00% |
For 2018, Farmers National Bank's most frequently originated type of loan was Conventional, with 118 originations. Their 2nd most popular type was Conventional, with 11 originations.
Loan Reason
For 2018, Farmers National Bank's most frequently cited loan purpose was Home Purchase, with 69 originations. The 2nd most popular reason was Cash Out Refi, with 37 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 123 | $11,815,000 | $96,057 | $887 | 5.00% |
| 30 Year | 7 | $1,455,000 | $207,857 | $1,540 | 4.93% |
| 10 Year | 2 | $120,000 | $60,000 | $242 | 5.25% |
For 2018, Farmers National Bank's most frequently cited loan duration was Other, with 123 originations. The 2nd most popular length was 30 Year, with 7 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 11 | $1,645,000 | $149,545 |
Farmers National Bank's average total fees were $1,540, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 11 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 6 | $870,000 | $145,000 |
| 4-5% | 5 | $775,000 | $155,000 |
During 2018, Farmers National Bank's average interest rate for loans was 4.93%, while their most frequently originated rate bucket for loans was 5-6%, with 6 originations.
Loan Sizing
2018 saw Farmers National Bank place emphasis on $100,000 or less loans with 83 originations, totaling $4,275,000 in origination value.
Applicant Income
Farmers National Bank lent most frequently to those with incomes in the $50k or less range, with 37 originations. The second most popular income band? $75k-100k, with 28 originations.
Applicant Debt to Income Ratio
Farmers National Bank lent most frequently to those with DTI ratios of Exempt%, with 121 originations. The next most common DTI ratio? 20-30%, with 5 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.52%
Farmers National Bank has an average approval rate.
Pick Rate
Approvals leading to origination96.97%
Farmers National Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 121 | $11,745,000 | $97,066 |
| NA | 11 | $1,645,000 | $149,545 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 132 | $13,390,000 | $101,439 |
LTV Distribution
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| The Farmers National Bank | 1100 East Lincolnway Morrison, IL 61270 | Full Service B&M | $74,648 |
| The Farmers National Bank | 114 West Third Street Prophetstown, IL 61277 | Full Service B&M | $198,570 |
| The Farmers National Bank | 700 U.S. Highway 6 East Geneseo, IL 61254 | Full Service B&M | $214,677 |
For 2018, Farmers National Bank had 3 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $25,730 |
| Net interest income | $19,024 |
| Total noninterest income | $1,551 |
| Gross Fiduciary activities income | $316 |
| Service charges on deposit accounts | $359 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $876 |
| Pre-tax net operating income | $11,821 |
| Securities gains (or losses, -) | $-592 |
| Income before extraordinary items | $9,596 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $9,596 |
| Minority interest net income | $0 |
| Net income | $9,596 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $10,099 |
Farmers National Bank's gross interest income from loans was $25,730,000.
Farmers National Bank's net interest income from loans was $19,024,000.
Farmers National Bank's fee based income from loans was $359,000.
Farmers National Bank's net income from loans was $9,596,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $6,706 |
| Provision for credit losses | $700 |
| Total noninterest expense | $8,054 |
| Salaries and employee benefits | $4,766 |
| Premises and equipment expense | $486 |
| Additional noninterest expense | $2,802 |
| Applicable income taxes | $1,633 |
| Net charge-offs | $58 |
| Cash dividends | $3,078 |
Farmers National Bank's interest expense for loans was $6,706,000.
Farmers National Bank's payroll and benefits expense were $4,766,000.
Farmers National Bank's property, plant and equipment expenses $486,000.
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 | 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 | 1.0% |
| Other consumer loans | 0.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $459,278 |
| Deposits held in domestic offices | $459,278 |
| Deposits by Individuals, partnerships, and corporations | $385,642 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $73,636 |
| 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 | $121,242 |
| Demand deposits | $78,979 |
| Nontransaction accounts | $338,036 |
| Money market deposit accounts (MMDAs) | $60,010 |
| Other savings deposits (excluding MMDAs) | $56,209 |
| Total time deposits | $221,817 |
| Total time and savings deposits | $380,299 |
| Noninterest-bearing deposits | $61,390 |
| Interest-bearing deposits | $397,888 |
| Retail deposits | $402,605 |
| IRAs and Keogh plan accounts | $33,085 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $683,864 |
| Cash & Balances due from depository institutions | $16,614 |
| Interest-bearing balances | $7,872 |
| Total securities | $263,731 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $361,138 |
| Loan and leases loss allowance | $15,081 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $3,077 |
| Other real estate owned | $80 |
| Goodwill and other intangibles | $0 |
| All other assets | $39,224 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $683,863 |
| Total Liabilities | $591,277 |
| Total deposits | $459,278 |
| Interest-bearing deposits | $397,888 |
| Deposits held in domestic offices | $459,278 |
| % insured (estimated) | $80 |
| Federal funds purchased and repurchase agreements | $17,989 |
| Trading liabilities | $0 |
| Other borrowed funds | $108,511 |
| Subordinated debt | $0 |
| All other liabilities | $5,499 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $361,138 |
| Loan and leases loss allowance | $15,081 |
| Total loans and leases (domestic) | $376,219 |
| All real estate loans | $224,680 |
| Real estate loans in domestic offices | $224,680 |
| Construction and development loans | $2,517 |
| Residential 1-4 family construction | $1,816 |
| Other construction, all land development and other land | $701 |
| Loans secured by nonfarm nonresidential properties | $15,102 |
| Nonfarm nonresidential secured by owner-occupied properties | $12,308 |
| Commercial real estate & other non-farm, non-residential | $2,794 |
| Multifamily residential real estate | $614 |
| 1-4 family residential loans | $30,720 |
| Farmland loans | $175,727 |
| Loans held in foreign offices | $0 |
| Farm loans | $122,456 |
| Commercial and industrial loans | $20,936 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $4,821 |
| Credit card loans | $0 |
| Related Plans | $0 |
| Consumer Auto Loans | $2,855 |
| Other loans to individuals | $1,966 |
| All other loans & leases | $3,326 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $2,108 |
| 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 | $207 |
| Non 1-4 family restructured loans & leases | $207 |
| Total loans and leases (foreign) | $0 |
Farmers National Bank had $361,138,000 of loans outstanding in 2018. $224,680,000 of loans were in real estate loans. $2,517,000 of loans were in development loans. $614,000 of loans were in multifamily mortgage loans. $30,720,000 of loans were in 1-4 family mortgage loans. $122,456,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,855,000 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 | 112 | $14,999 | $133,920 |
| Nonfarm, nonresidential loans - <$100k | 51 | $2,003 | $39,275 |
| Nonfarm, nonresidential loans - $100-250k | 32 | $3,813 | $119,156 |
| Nonfarm, nonresidential loans - $250k-1MM | 29 | $9,183 | $316,655 |
| Commercial & Industrial, US addressed loans - <$1MM | 290 | $12,004 | $41,393 |
| Commercial & Industrial, US addressed loans - <$100k | 249 | $5,822 | $23,382 |
| Commercial & Industrial, US addressed loans - $100-250k | 29 | $3,453 | $119,069 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 12 | $2,729 | $227,417 |
| Farmland loans - <$1MM | 552 | $122,285 | $221,531 |
| Farmland loans - <$100k | 123 | $5,005 | $40,691 |
| Farmland loans - $100-250k | 185 | $22,515 | $121,703 |
| Farmland loans - $250k-1MM | 244 | $94,765 | $388,381 |
| Agriculture operations loans - <$1MM | 1,350 | $110,554 | $81,892 |
| Agriculture operations loans - <$100k | 896 | $24,335 | $27,160 |
| Agriculture operations loans - $100-250k | 315 | $39,656 | $125,892 |
| Agriculture operations loans - $250k-1MM | 139 | $46,563 | $334,986 |