The Farmers & Merchants Bank Mortgage Rates, Fees & Info
Stuttgart, ARLEI: 54930009DUZUXUZIDL84
Tax ID: 71-0203044
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Mortgage Data
Bank Data
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, Little Rock, Hot Springs, and Searcy among others. We have data for 5 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.
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 |
|---|---|---|
| 30 Year Conventional Purchase | 6.54% | 5/4/24 |
| 30 Year Conventional Refi | 6.40% | 5/4/24 |
| 30 Year Cash-out Refi | 6.85% | 5/4/24 |
| 15 Year Conventional Purchase | 6.11% | 5/4/24 |
| 15 Year Conventional Refi | 6.15% | 5/4/24 |
| 15 Year Cash-out Refi | 6.15% | 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. | ||
The Farmers & Merchants Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
230Origination Dollar Volume (All Markets)
$25,600,000Employee count
251Top 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) | 85 | $13,455,000 | $158,294 | $0 | 0.00% |
| Outside of Metro Areas | 109 | $8,205,000 | $75,275 | $0 | 0.00% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 30 | $3,140,000 | $104,667 | $0 | 0.00% |
| HOT SPRINGS, AR (FHA|USDA|VA) | 4 | $670,000 | $167,500 | $0 | 0.00% |
| Searcy, AR (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $0 | 0.00% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 230 | $25,600,000 | $111,304 | $0 | 0.00% |
For 2018, The Farmers & Merchants Bank's most frequently originated type of loan was Conventional, with 230 originations.
Loan Reason
For 2018, The Farmers & Merchants Bank's most frequently cited loan purpose was Home Purchase, with 113 originations. The 2nd most popular reason was Refi, with 82 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 230 | $25,600,000 | $111,304 | $0 | 0.00% |
For 2018, The Farmers & Merchants Bank's most frequently cited loan duration was Other, with 230 originations.
Loan Sizing
2018 saw The Farmers & Merchants Bank place emphasis on $100,000 or less loans with 126 originations, totaling $6,300,000 in origination value.
Applicant Income
The Farmers & Merchants Bank lent most frequently to those with incomes in the $50k or less range, with 62 originations. The second most popular income band? $50k-75k, with 40 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 230 | $25,600,000 | $111,304 | $0 | 0.00% |
The Farmers & Merchants Bank lent most frequently to those with DTI ratios of Exempt%, with 230 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications79.66%
The Farmers & Merchants Bank has a below average approval rate.
Pick Rate
Approvals leading to origination79.13%
The Farmers & Merchants Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 230 | $25,600,000 | $111,304 |
Occupancy Type Mix
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| The Farmers & Merchants Bank | 102 East 22nd Street Stuttgart, AR 72160 | Limited, Drive-thru | $0 |
| The Farmers & Merchants Bank | 110 North Front Hazen, AR 72064 | Full Service B&M | $32,669 |
| The Farmers & Merchants Bank | 110 W Third Des Arc, AR 72040 | Full Service B&M | $49,923 |
| The Farmers & Merchants Bank | 1600 North Oak Street Morrilton, AR 72110 | Full Service B&M | $24,240 |
| The Farmers & Merchants Bank | 1846 North Crossover Road Fayetteville, AR 72701 | Full Service B&M | $43,859 |
| The Farmers & Merchants Bank | 1960 Whitehead Drive Dewitt, AR 72042 | Full Service B&M | $56,401 |
| The Farmers & Merchants Bank | 200 Main Street West Fork, AR 72774 | Full Service B&M | $21,433 |
| The Farmers & Merchants Bank | 202 Hindman St Prairie Grove, AR 72753 | Full Service B&M | $18,984 |
| 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 | $8,310 |
| The Farmers & Merchants Bank | 3120 North College Avenue Fayetteville, AR 72703 | Full Service B&M | $25,284 |
| The Farmers & Merchants Bank | 3150 Wedington Drive Fayetteville, AR 72704 | Full Service B&M | $10,450 |
| The Farmers & Merchants Bank | 33 West Main Street Marianna, AR 72360 | Full Service B&M | $44,645 |
| The Farmers & Merchants Bank | 542 West Dickson Street Fayetteville, AR 72701 | Limited, Drive-thru | $7,829 |
| The Farmers & Merchants Bank | 708 South Main Street Stuttgart, AR 72160 | Full Service B&M | $161,437 |
| The Farmers & Merchants Bank | 801 North Main Street Stuttgart, AR 72160 | Limited, Drive-thru | $12,151 |
| The Farmers & Merchants Bank | 813 North Fourche Avenue Perryville, AR 72126 | Full Service B&M | $59,478 |
| The Farmers & Merchants Bank | One South Block Fayetteville, AR 72703 | Full Service B&M | $177,084 |
| The Farmers & Merchants Bank | Seventh And Maple Streets Stuttgart, AR 72160 | Limited, Drive-thru | $0 |
For 2018, The Farmers & Merchants Bank had 19 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $42,527 |
| Net interest income | $37,177 |
| Total noninterest income | $6,953 |
| Gross Fiduciary activities income | $561 |
| Service charges on deposit accounts | $2,718 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $3,674 |
| Pre-tax net operating income | $12,643 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $10,248 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $10,248 |
| Minority interest net income | $0 |
| Net income | $10,248 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $10,248 |
The Farmers & Merchants Bank's gross interest income from loans was $42,527,000.
The Farmers & Merchants Bank's net interest income from loans was $37,177,000.
The Farmers & Merchants Bank's fee based income from loans was $2,718,000.
The Farmers & Merchants Bank's net income from loans was $10,248,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $5,350 |
| Provision for credit losses | $1,800 |
| Total noninterest expense | $29,687 |
| Salaries and employee benefits | $17,126 |
| Premises and equipment expense | $3,125 |
| Additional noninterest expense | $9,436 |
| Applicable income taxes | $2,395 |
| Net charge-offs | $883 |
| Cash dividends | $3,989 |
The Farmers & Merchants Bank's interest expense for loans was $5,350,000.
The Farmers & Merchants Bank's payroll and benefits expense were $17,126,000.
The Farmers & Merchants Bank's property, plant and equipment expenses $3,125,000.
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 | 0.5% |
| 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 | $773,072 |
| Deposits held in domestic offices | $773,072 |
| Deposits by Individuals, partnerships, and corporations | $689,300 |
| Deposits by U.S. Government | $88 |
| Deposits by States and political subdivisions in the U.S. | $83,440 |
| Deposits by Commercial banks and other depository institutions in U.S. | $244 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $96,015 |
| Demand deposits | $75,816 |
| Nontransaction accounts | $677,057 |
| Money market deposit accounts (MMDAs) | $55,587 |
| Other savings deposits (excluding MMDAs) | $441,170 |
| Total time deposits | $180,300 |
| Total time and savings deposits | $697,256 |
| Noninterest-bearing deposits | $170,527 |
| Interest-bearing deposits | $602,545 |
| Retail deposits | $727,656 |
| IRAs and Keogh plan accounts | $22,630 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $1,063,088 |
| Cash & Balances due from depository institutions | $28,112 |
| Interest-bearing balances | $9,311 |
| Total securities | $232,396 |
| Federal funds sold & reverse repurchase | $22 |
| Net loans and leases | $700,255 |
| Loan and leases loss allowance | $7,627 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $14,349 |
| Other real estate owned | $2,083 |
| Goodwill and other intangibles | $25,164 |
| All other assets | $60,707 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $1,063,088 |
| Total Liabilities | $924,160 |
| Total deposits | $773,072 |
| Interest-bearing deposits | $602,545 |
| Deposits held in domestic offices | $773,072 |
| % insured (estimated) | $81 |
| Federal funds purchased and repurchase agreements | $67,876 |
| Trading liabilities | $0 |
| Other borrowed funds | $76,894 |
| Subordinated debt | $0 |
| All other liabilities | $6,318 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $700,255 |
| Loan and leases loss allowance | $7,627 |
| Total loans and leases (domestic) | $707,882 |
| All real estate loans | $490,346 |
| Real estate loans in domestic offices | $490,346 |
| Construction and development loans | $73,812 |
| Residential 1-4 family construction | $13,050 |
| Other construction, all land development and other land | $60,762 |
| Loans secured by nonfarm nonresidential properties | $208,599 |
| Nonfarm nonresidential secured by owner-occupied properties | $72,657 |
| Commercial real estate & other non-farm, non-residential | $135,942 |
| Multifamily residential real estate | $12,824 |
| 1-4 family residential loans | $114,937 |
| Farmland loans | $80,174 |
| Loans held in foreign offices | $0 |
| Farm loans | $80,787 |
| Commercial and industrial loans | $103,698 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $17,219 |
| Credit card loans | $2,582 |
| Related Plans | $717 |
| Consumer Auto Loans | $3,865 |
| Other loans to individuals | $10,055 |
| All other loans & leases | $15,832 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $15,091 |
| 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 | $128 |
| Non 1-4 family restructured loans & leases | $128 |
| Total loans and leases (foreign) | $0 |
The Farmers & Merchants Bank had $700,255,000 of loans outstanding in 2018. $490,346,000 of loans were in real estate loans. $73,812,000 of loans were in development loans. $12,824,000 of loans were in multifamily mortgage loans. $114,937,000 of loans were in 1-4 family mortgage loans. $80,787,000 of loans were in farm loans. $2,582,000 of loans were in credit card loans. $3,865,000 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 | 373 | $60,007 | $160,877 |
| Nonfarm, nonresidential loans - <$100k | 141 | $5,490 | $38,936 |
| Nonfarm, nonresidential loans - $100-250k | 120 | $14,463 | $120,525 |
| Nonfarm, nonresidential loans - $250k-1MM | 112 | $40,054 | $357,625 |
| Commercial & Industrial, US addressed loans - <$1MM | 855 | $47,064 | $55,046 |
| Commercial & Industrial, US addressed loans - <$100k | 686 | $13,035 | $19,001 |
| Commercial & Industrial, US addressed loans - $100-250k | 103 | $10,778 | $104,641 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 66 | $23,251 | $352,288 |
| Farmland loans - <$1MM | 315 | $29,584 | $93,917 |
| Farmland loans - <$100k | 182 | $6,946 | $38,165 |
| Farmland loans - $100-250k | 91 | $11,393 | $125,198 |
| Farmland loans - $250k-1MM | 42 | $11,245 | $267,738 |
| Agriculture operations loans - <$1MM | 461 | $25,781 | $55,924 |
| Agriculture operations loans - <$100k | 322 | $6,738 | $20,925 |
| Agriculture operations loans - $100-250k | 84 | $7,596 | $90,429 |
| Agriculture operations loans - $250k-1MM | 55 | $11,447 | $208,127 |