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
Jump to:
Mortgage Data
Bank Data
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 include Fayetteville, Jonesboro, Mountain Home, Little Rock, and Pine Bluff among others. The Farmers & Merchants Bank has
an average
approval rate for mortages when compared nationally.
They have
a below average
pick rate when compared to the same sample of other lendors.
The Farmers & Merchants Bank is typically
a low fee
lendor.
Originations
583
Origination Dollar Volume (All Markets)
$108,715,000
Employee count
322
Show all (9) awards
×
The Farmers & Merchants Bank - 2021
The Farmers & Merchants Bank is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
Work for The Farmers & Merchants Bank?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
Relative Rate
The Farmers & Merchants Bank's average 30 year fixed rate mortgage of loans were
2.9%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.25%.
Relative Fees
The Farmers & Merchants Bank's average total fees for a 30 year fixed rate
mortgage are $2,717.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
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.
Product Mix
Loan Type |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
Conventional |
583 |
$108,715,000 |
$186,475 |
$2,267 |
3.75% |
For the 2021 period, The Farmers & Merchants Bank's most frequently
originated loan type
of loans were Conventional, with 583 originations.
Loan Reason
Loan Reason |
Originations |
Total Value |
Average Loan |
Average Fees |
Average 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 the 2021, The Farmers & Merchants Bank's most frequently cited loan
purpose
of loans were Home Purchase, with 288
originations.
The 2nd most popular reason of loans were 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 the 2021, The Farmers & Merchants Bank's most frequently cited loan
length
of loans were Other, with 192 originations.
The 2nd most popular length of loans were 30 Year,
with 145 originations.
Origination Fees
Origination Fee |
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 |
$2,717 of loans were The Farmers & Merchants Bank's
average total fees, while their most
frequently occuring range of origination fees 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% |
183 |
$18,245,000 |
$99,699 |
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 |
During 2021, The Farmers & Merchants Bank's average interest
rate of loans were 2.90%, while their
most frequently originated rate bucket of loans were 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
86.38%
The Farmers & Merchants Bank has an average approval rate.
Pick Rate
Approvals leading to origination
83.15%
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
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.
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 |