The Farmers & Merchants Bank Of Craig County Mortgage Rates, Fees & Info

New Castle, VA

LEI: 254900R8ZBXT7V5OH304

Tax ID: 54-0208020

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    The Farmers & Merchants Bank Of Craig County is a smaller bank specializing in various types of mortgages.



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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.76% 4/5/25
    30 Year Cash-out Refi 6.74% 4/5/25
    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.

    The Farmers & Merchants Bank Of Craig County Mortgage Calculator






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


    Originations

    0

    Origination Dollar Volume (All Markets)

    $0

    Employee count

    13

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Farmers & Merchants Bank of Craig County 189 Main Street New Castle, VA 24127 Full Service B&M $63,532

    For 2021, The Farmers & Merchants Bank Of Craig County had 1 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $2,386
    Net interest income $2,252
    Total noninterest income $173
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $7
    Trading account gains and fees $0
    Additional Noninterest Income $166
    Pre-tax net operating income $829
    Securities gains (or losses, -) $0
    Income before extraordinary items $655
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $655
    Minority interest net income $0
    Net income $655
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $655

    The Farmers & Merchants Bank Of Craig County's gross interest income from loans was $2,386,000.
    The Farmers & Merchants Bank Of Craig County's net interest income from loans was $2,252,000.
    The Farmers & Merchants Bank Of Craig County's fee based income from loans was $7,000.
    The Farmers & Merchants Bank Of Craig County's net income from loans was $655,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $134
    Provision for credit losses $0
    Total noninterest expense $1,596
    Salaries and employee benefits $872
    Premises and equipment expense $130
    Additional noninterest expense $594
    Applicable income taxes $174
    Net charge-offs $2
    Cash dividends $220

    The Farmers & Merchants Bank Of Craig County's interest expense for loans was $134,000.
    The Farmers & Merchants Bank Of Craig County's payroll and benefits expense were $872,000.
    The Farmers & Merchants Bank Of Craig County's property, plant and equipment expenses $130,000.

    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 $63,469
    Deposits held in domestic offices $63,469
    Deposits by Individuals, partnerships, and corporations $57,047
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $6,422
    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 $26,253
    Demand deposits $15,355
    Nontransaction accounts $37,216
    Money market deposit accounts (MMDAs) $3,695
    Other savings deposits (excluding MMDAs) $17,043
    Total time deposits $16,477
    Total time and savings deposits $48,114
    Noninterest-bearing deposits $15,355
    Interest-bearing deposits $48,114
    Retail deposits $61,511
    IRAs and Keogh plan accounts $6,536
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $77,014
    Cash & Balances due from depository institutions $12,736
    Interest-bearing balances $10,878
    Total securities $26,831
    Federal funds sold & reverse repurchase $114
    Net loans and leases $34,996
    Loan and leases loss allowance $419
    Trading account assets $0
    Bank premises and fixed assets $1,848
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $489

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $77,014
    Total Liabilities $63,727
    Total deposits $63,469
    Interest-bearing deposits $48,114
    Deposits held in domestic offices $63,469
    % insured (estimated) $88
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $258

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $34,996
    Loan and leases loss allowance $419
    Total loans and leases (domestic) $35,415
    All real estate loans $30,105
    Real estate loans in domestic offices $30,105
    Construction and development loans $2,414
    Residential 1-4 family construction $709
    Other construction, all land development and other land $1,705
    Loans secured by nonfarm nonresidential properties $909
    Nonfarm nonresidential secured by owner-occupied properties $409
    Commercial real estate & other non-farm, non-residential $500
    Multifamily residential real estate $0
    1-4 family residential loans $18,469
    Farmland loans $8,313
    Loans held in foreign offices $0
    Farm loans $777
    Commercial and industrial loans $1,394
    To non-U.S. addressees $0
    Loans to individuals $3,221
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $1,884
    Other loans to individuals $1,337
    All other loans & leases $0
    Loans to foreign governments and official institutions $0
    Other loans $0
    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

    The Farmers & Merchants Bank of Craig County had $34,996,000 of loans outstanding in 2021. $30,105,000 of loans were in real estate loans. $2,414,000 of loans were in development loans. $0 of loans were in multifamily mortgage loans. $18,469,000 of loans were in 1-4 family mortgage loans. $777,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,884,000 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 9 $909 $101,000
    Nonfarm, nonresidential loans - <$100k 6 $342 $57,000
    Nonfarm, nonresidential loans - $100-250k 1 $158 $158,000
    Nonfarm, nonresidential loans - $250k-1MM 2 $409 $204,500
    Commercial & Industrial, US addressed loans - <$1MM 48 $1,394 $29,042
    Commercial & Industrial, US addressed loans - <$100k 45 $785 $17,444
    Commercial & Industrial, US addressed loans - $100-250k 2 $209 $104,500
    Commercial & Industrial, US addressed loans - $250k-1MM 1 $400 $400,000
    Farmland loans - <$1MM 62 $7,549 $121,758
    Farmland loans - <$100k 23 $1,061 $46,130
    Farmland loans - $100-250k 28 $3,541 $126,464
    Farmland loans - $250k-1MM 11 $2,947 $267,909
    Agriculture operations loans - <$1MM 53 $777 $14,660
    Agriculture operations loans - <$100k 53 $777 $14,660