The Farmers & Merchants Bank Mortgage Rates, Fees & Info

Stuttgart, AR

LEI: 54930009DUZUXUZIDL84

Tax ID: 71-0203044

5 stars - out of 5 stars, based on 24 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • 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

    The Farmers & Merchants Bank is a smaller bank specializing in Home Purchase and Refi loans. The Farmers & Merchants Bank has a high proportion of conventional loans. Their top markets by origination volume include: Fayetteville, Jonesboro, Mountain Home, Little Rock, and Pine Bluff among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)

    The Farmers & Merchants Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. The Farmers & Merchants 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.

    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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.73% 12/4/22
    30 Year Conventional Refi 6.65% 12/4/22
    30 Year Cash-out Refi 6.75% 12/4/22
    15 Year Conventional Purchase 6.52% 12/4/22
    15 Year Conventional Refi 5.88% 12/4/22
    15 Year Cash-out Refi 5.88% 12/4/22
    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.


    Originations

    583

    Origination Dollar Volume (All Markets)

    $108,715,000

    Employee count

    322 Show all (9) awards

    Relative Rate

    The Farmers & Merchants Bank's average 30 year fixed mortgage rate was 2.9%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.25%.

    Relative Fees (Closing Costs)

    The Farmers & Merchants Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $2,717.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

    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
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 130 $38,700,000 $297,692 $3,004 3.44%
    Outside of Metro Areas 271 $31,745,000 $117,140 $2,032 3.96%
    JONESBORO, AR (FHA|USDA|VA) 77 $17,665,000 $229,416 $2,159 3.75%
    Mountain Home, AR (FHA|USDA|VA) 66 $9,990,000 $151,364 $1,808 3.50%
    LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 23 $8,335,000 $362,391 $3,122 3.66%
    PINE BLUFF, AR (FHA|USDA|VA) 4 $530,000 $132,500 $2,393 3.53%
    Paragould, AR (FHA|USDA|VA) 4 $430,000 $107,500 $1,693 3.41%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $405,000 $405,000 $5,479 3.52%
    FORT SMITH, AR-OK (FHA|USDA|VA) 1 $325,000 $325,000 $0 4.15%
    Blytheville, AR (FHA|USDA|VA) 1 $275,000 $275,000 $2,769 2.75%
    Searcy, AR (FHA|USDA|VA) 2 $140,000 $70,000 $1,656 4.25%
    Batesville, AR (FHA|USDA|VA) 1 $85,000 $85,000 $1,167 5.00%
    TEXARKANA, TX-AR (FHA|USDA|VA) 1 $65,000 $65,000 $0 4.35%
    HOT SPRINGS, AR (FHA|USDA|VA) 1 $25,000 $25,000 $1,212 4.00%
    The Farmers & Merchants Bank's top markets include Fayetteville, Jonesboro, Mountain Home, Little Rock, and Pine Bluff among others.

    Their top states include:
  • Arkansas (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against The Farmers & Merchants Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    FIRST WESTERN MORTGAGE, INC.
    Similarity Rank: 352
    Truity Federal Credit Union
    Similarity Rank: 728
    ARKANSAS Federal Credit Union
    Similarity Rank: 864
    The Farmers & Merchants Bank
    Similarity Rank: 952
    Firstar Bank
    Similarity Rank: 999
    The First National Bank of Fort Smith
    Similarity Rank: 1180
    Generations Bank
    Similarity Rank: 1188
    First Security Bank
    Similarity Rank: 1281
    Baxter Credit Union
    Similarity Rank: 1950
    Chambers Bank
    Similarity Rank: 2310

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 583 $108,715,000 $186,475 $2,267 3.75%

    For 2021, The Farmers & Merchants Bank's most frequently originated type of loan was Conventional, with 583 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 288 $49,440,000 $171,667 $2,257 4.05%
    Refi 211 $50,845,000 $240,972 $2,320 3.38%
    Other 30 $2,120,000 $70,667 $1,701 4.01%
    Cash Out Refi 30 $4,940,000 $164,667 $2,966 2.77%
    Home Improvement 24 $1,370,000 $57,083 $1,442 4.30%

    For 2021, The Farmers & Merchants Bank's most frequently cited loan purpose was Home Purchase, with 288 originations. The 2nd most popular reason was Refi, with 211 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 192 $20,530,000 $106,927 $1,695 4.43%
    30 Year 145 $27,035,000 $186,448 $2,717 2.90%
    5 Year 128 $27,450,000 $214,453 $1,355 4.11%
    15 Year 63 $12,405,000 $196,905 $2,777 2.46%
    3 Year 27 $5,375,000 $199,074 $0 4.59%
    1 Year 13 $2,055,000 $158,077 $0 4.87%
    10 Year 8 $12,650,000 $1,581,250 $2,340 3.39%
    20 Year 7 $1,215,000 $173,571 $2,660 2.64%

    For 2021, The Farmers & Merchants Bank's most frequently cited loan duration was Other, with 192 originations. The 2nd most popular length was 30 Year, with 145 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 205 $29,495,000 $143,878
    $1k-2k 156 $19,470,000 $124,808
    $2k-3k 26 $6,830,000 $262,692
    $3k-4k 2 $590,000 $295,000
    $5k+ 1 $305,000 $305,000

    The Farmers & Merchants Bank's average total fees were $2,717, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 205 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 187 $53,655,000 $286,925
    4-5% 182 $18,020,000 $99,011
    2.5-3% 111 $23,225,000 $209,234
    <2.5% 67 $11,295,000 $168,582
    5-6% 34 $2,250,000 $66,176
    6-7% 1 $45,000 $45,000
    % 1 $225,000 $225,000

    During 2021, The Farmers & Merchants Bank's average interest rate for loans was 2.90%, while their most frequently originated rate bucket for loans was 3-4%, with 187 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 237 $13,815,000 $58,291 $1,655 4.18%
    $100k-200k 218 $31,270,000 $143,440 $2,409 3.56%
    $200k-400k 98 $25,510,000 $260,306 $3,011 3.23%
    $400k-600k 19 $8,805,000 $463,421 $3,097 3.20%
    $1MM+ 8 $26,970,000 $3,371,250 $0 3.57%
    $600k-1MM 3 $2,345,000 $781,667 $0 3.73%

    2021 saw The Farmers & Merchants Bank place emphasis on $100,000 or less loans with 237 originations, totaling $13,815,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 134 $10,800,000 $80,597 $1,990 3.88%
    $50k-75k 115 $14,545,000 $126,478 $2,159 3.72%
    $75k-100k 94 $13,820,000 $147,021 $2,234 3.52%
    $100k-150k 63 $10,405,000 $165,159 $2,656 3.67%
    $150k-250k 48 $9,840,000 $205,000 $2,920 3.56%
    $250k+ 19 $6,125,000 $322,368 $2,795 3.22%

    The Farmers & Merchants Bank lent most frequently to those with incomes in the $50k or less range, with 134 originations. The second most popular income band? $50k-75k, with 115 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 124 $17,010,000 $137,177 $2,225 3.44%
    30-36% 88 $13,030,000 $148,068 $2,385 3.63%
    <20% 71 $11,315,000 $159,366 $2,261 3.33%
    39% 19 $2,115,000 $111,316 $2,055 3.76%
    38% 15 $2,295,000 $153,000 $2,492 3.76%
    42% 14 $1,620,000 $115,714 $2,263 4.04%
    36% 13 $1,995,000 $153,462 $2,458 3.74%
    37% 12 $1,720,000 $143,333 $2,064 3.71%
    41% 11 $2,065,000 $187,727 $2,475 3.72%
    40% 9 $1,135,000 $126,111 $2,349 3.53%
    44% 8 $1,350,000 $168,750 $1,862 3.86%
    >60% 6 $600,000 $100,000 $1,568 5.05%
    46% 6 $960,000 $160,000 $2,250 3.60%
    43% 5 $415,000 $83,000 $1,571 4.43%
    48% 5 $855,000 $171,000 $2,664 2.75%
    50-60% 5 $705,000 $141,000 $1,242 4.40%
    47% 4 $820,000 $205,000 $2,292 3.12%
    45% 4 $450,000 $112,500 $2,546 3.84%
    49% 3 $325,000 $108,333 $2,764 2.67%

    The Farmers & Merchants Bank lent most frequently to those with DTI ratios of 20-30%, with 124 originations. The next most common DTI ratio? 30-36%, with 88 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 430 $58,470,000 $135,977 $2,271 3.65%
    Not applicable 100 $41,690,000 $416,900 $0 4.11%
    Not provided 38 $6,210,000 $163,421 $2,377 3.62%
    Asian 4 $1,310,000 $327,500 $2,379 4.02%
    Black 10 $780,000 $78,000 $1,560 4.59%
    American Indian 1 $255,000 $255,000 $1,984 2.75%

    Approval Rates

    Total approvals of all applications
    89.20%

    The Farmers & Merchants Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.88%

    The Farmers & Merchants Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 583 $108,715,000 $186,475

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    583 $108,715,000 $186,475

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 43 $3,215,000 $74,767 $2,058 3.74%
    40-60% 77 $13,425,000 $174,351 $2,404 3.58%
    60-80% 232 $52,200,000 $225,000 $2,408 3.61%
    80-100% 210 $38,790,000 $184,714 $2,215 3.88%
    Over 100% 1 $105,000 $105,000 $1,878 5.00%
    Under 20% 20 $980,000 $49,000 $1,169 4.55%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    The Farmers & Merchants Bank Seventh And Maple Streets Stuttgart, AR 72160 Limited, Drive-thru $0
    The Farmers & Merchants Bank 2696 Highway 62 East Mountain Home, AR 72653 Full Service B&M $0
    The Farmers & Merchants Bank 3120 North College Avenue Fayetteville, AR 72703 Full Service B&M $33,115
    The Farmers & Merchants Bank 3150 Wedington Drive Fayetteville, AR 72704 Limited, Drive-thru $15,457
    The Farmers & Merchants Bank 3210 Sw Regency Pkwy Bentonville, AR 72712 Full Service B&M $24,687
    The Farmers & Merchants Bank 400 East Highland Drive Jonesboro, AR 72401 Full Service B&M $84,979
    The Farmers & Merchants Bank 502 South Hickory Street Mountain Home, AR 72653 Full Service B&M $226,097
    The Farmers & Merchants Bank 542 West Dickson Street Fayetteville, AR 72701 Limited, Drive-thru $7,472
    The Farmers & Merchants Bank 701 East Main Street Gassville, AR 72635 Full Service B&M $15,197
    The Farmers & Merchants Bank 708 South Main Street Stuttgart, AR 72160 Full Service B&M $223,395
    The Farmers & Merchants Bank 801 North Main Street Stuttgart, AR 72160 Limited, Drive-thru $0
    The Farmers & Merchants Bank 813 North Fourche Avenue Perryville, AR 72126 Full Service B&M $62,353
    The Farmers & Merchants Bank One South Block Fayetteville, AR 72703 Full Service B&M $191,816
    The Farmers & Merchants Bank 1 Bank Plaza Pocahontas, AR 72455 Full Service B&M $135,008
    The Farmers & Merchants Bank 102 East 22nd Street Stuttgart, AR 72160 Limited, Drive-thru $0
    The Farmers & Merchants Bank 108 West Front Street Hazen, AR 72064 Full Service B&M $43,217
    The Farmers & Merchants Bank 110 W Third Des Arc, AR 72040 Full Service B&M $59,819
    The Farmers & Merchants Bank 1600 North Oak Street Morrilton, AR 72110 Full Service B&M $25,498
    The Farmers & Merchants Bank 1608 U S Highway 67 South Pocahontas, AR 72455 Limited, Drive-thru $0
    The Farmers & Merchants Bank 1846 North Crossover Road Fayetteville, AR 72701 Full Service B&M $88,469
    The Farmers & Merchants Bank 1960 Whitehead Drive Dewitt, AR 72042 Full Service B&M $76,430
    The Farmers & Merchants Bank 200 Main Street West Fork, AR 72774 Full Service B&M $32,702
    The Farmers & Merchants Bank 202 Hindman St Prairie Grove, AR 72753 Full Service B&M $20,819
    The Farmers & Merchants Bank 203 North 1st Street Flippin, AR 72634 Full Service B&M $16,216
    The Farmers & Merchants Bank 21st And Buerkle Streets Stuttgart, AR 72160 Limited, Drive-thru $0
    The Farmers & Merchants Bank 257 West Main Farmington, AR 72730 Full Service B&M $13,511
    The Farmers & Merchants Bank Sheffield Road And Highway 178 East Lakeview, AR 72642 Full Service B&M $19,003

    For 2021, The Farmers & Merchants Bank had 27 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $54,604
    Net interest income $50,739
    Total noninterest income $12,622
    Gross Fiduciary activities income $2,120
    Service charges on deposit accounts $2,642
    Trading account gains and fees $0
    Additional Noninterest Income $7,860
    Pre-tax net operating income $17,622
    Securities gains (or losses, -) $23
    Income before extraordinary items $13,436
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $13,436
    Minority interest net income $0
    Net income $13,436
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $13,417

    The Farmers & Merchants Bank's gross interest income from loans was $54,604,000.
    The Farmers & Merchants Bank's net interest income from loans was $50,739,000.
    The Farmers & Merchants Bank's fee based income from loans was $2,642,000.
    The Farmers & Merchants Bank's net income from loans was $13,436,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,865
    Provision for credit losses $2,350
    Total noninterest expense $43,389
    Salaries and employee benefits $24,143
    Premises and equipment expense $4,553
    Additional noninterest expense $14,693
    Applicable income taxes $4,209
    Net charge-offs $512
    Cash dividends $8,000

    The Farmers & Merchants Bank's interest expense for loans was $3,865,000.
    The Farmers & Merchants Bank's payroll and benefits expense were $24,143,000.
    The Farmers & Merchants Bank's property, plant and equipment expenses $4,553,000.

    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 7.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 1.0%
    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 $1,497,951
    Deposits held in domestic offices $1,497,951
    Deposits by Individuals, partnerships, and corporations $1,309,021
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $185,961
    Deposits by Commercial banks and other depository institutions in U.S. $2,969
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $295,242
    Demand deposits $286,375
    Nontransaction accounts $1,202,709
    Money market deposit accounts (MMDAs) $111,438
    Other savings deposits (excluding MMDAs) $876,654
    Total time deposits $214,617
    Total time and savings deposits $1,211,576
    Noninterest-bearing deposits $358,621
    Interest-bearing deposits $1,139,330
    Retail deposits $1,441,344
    IRAs and Keogh plan accounts $32,306
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,737,079
    Cash & Balances due from depository institutions $41,644
    Interest-bearing balances $15,068
    Total securities $365,052
    Federal funds sold & reverse repurchase $165,119
    Net loans and leases $1,001,259
    Loan and leases loss allowance $12,484
    Trading account assets $0
    Bank premises and fixed assets $34,370
    Other real estate owned $0
    Goodwill and other intangibles $54,460
    All other assets $75,175

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,737,079
    Total Liabilities $1,526,887
    Total deposits $1,497,951
    Interest-bearing deposits $1,139,330
    Deposits held in domestic offices $1,497,951
    % insured (estimated) $78
    Federal funds purchased and repurchase agreements $9,229
    Trading liabilities $0
    Other borrowed funds $10,288
    Subordinated debt $0
    All other liabilities $9,419

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,001,259
    Loan and leases loss allowance $12,484
    Total loans and leases (domestic) $1,013,743
    All real estate loans $775,895
    Real estate loans in domestic offices $775,895
    Construction and development loans $84,237
    Residential 1-4 family construction $31,833
    Other construction, all land development and other land $52,404
    Loans secured by nonfarm nonresidential properties $344,537
    Nonfarm nonresidential secured by owner-occupied properties $114,347
    Commercial real estate & other non-farm, non-residential $230,190
    Multifamily residential real estate $18,684
    1-4 family residential loans $239,415
    Farmland loans $89,022
    Loans held in foreign offices $0
    Farm loans $92,662
    Commercial and industrial loans $119,145
    To non-U.S. addressees $0
    Loans to individuals $19,773
    Credit card loans $3,078
    Related Plans $470
    Consumer Auto Loans $5,903
    Other loans to individuals $10,322
    All other loans & leases $6,268
    Loans to foreign governments and official institutions $0
    Other loans $3,739
    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 $43
    Non 1-4 family restructured loans & leases $36
    Total loans and leases (foreign) $0

    The Farmers & Merchants Bank had $1,001,259,000 of loans outstanding in 2021. $775,895,000 of loans were in real estate loans. $84,237,000 of loans were in development loans. $18,684,000 of loans were in multifamily mortgage loans. $239,415,000 of loans were in 1-4 family mortgage loans. $92,662,000 of loans were in farm loans. $3,078,000 of loans were in credit card loans. $5,903,000 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 524 $97,965 $186,956
    Nonfarm, nonresidential loans - <$100k 177 $6,675 $37,712
    Nonfarm, nonresidential loans - $100-250k 164 $20,390 $124,329
    Nonfarm, nonresidential loans - $250k-1MM 183 $70,900 $387,432
    Commercial & Industrial, US addressed loans - <$1MM 1,184 $61,104 $51,608
    Commercial & Industrial, US addressed loans - <$100k 965 $20,205 $20,938
    Commercial & Industrial, US addressed loans - $100-250k 133 $14,503 $109,045
    Commercial & Industrial, US addressed loans - $250k-1MM 86 $26,396 $306,930
    Farmland loans - <$1MM 424 $57,838 $136,410
    Farmland loans - <$100k 208 $7,718 $37,106
    Farmland loans - $100-250k 118 $13,546 $114,797
    Farmland loans - $250k-1MM 98 $36,574 $373,204
    Agriculture operations loans - <$1MM 526 $47,637 $90,565
    Agriculture operations loans - <$100k 304 $8,130 $26,743
    Agriculture operations loans - $100-250k 106 $10,452 $98,604
    Agriculture operations loans - $250k-1MM 116 $29,055 $250,474