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, Mountain Home, Jonesboro, Little Rock, and Searcy among others. We have data for 12 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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.54% | 11/21/24 |
| 30 Year Conventional Refi | 6.40% | 11/21/24 |
| 30 Year Cash-out Refi | 6.85% | 11/21/24 |
| 15 Year Conventional Purchase | 6.11% | 11/21/24 |
| 15 Year Conventional Refi | 6.15% | 11/21/24 |
| 15 Year Cash-out Refi | 6.15% | 11/21/24 |
| 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
339Origination Dollar Volume (All Markets)
$40,525,000Employee count
375Top 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) | 82 | $19,050,000 | $232,317 | $0 | 0.00% |
| Outside of Metro Areas | 161 | $11,875,000 | $73,758 | $0 | 0.00% |
| Mountain Home, AR (FHA|USDA|VA) | 35 | $3,205,000 | $91,571 | $0 | 0.00% |
| JONESBORO, AR (FHA|USDA|VA) | 25 | $2,605,000 | $104,200 | $0 | 0.00% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 19 | $1,705,000 | $89,737 | $0 | 0.00% |
| Searcy, AR (FHA|USDA|VA) | 5 | $695,000 | $139,000 | $0 | 0.00% |
| Paragould, AR (FHA|USDA|VA) | 5 | $445,000 | $89,000 | $0 | 0.00% |
| HOT SPRINGS, AR (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 0.00% |
| PINE BLUFF, AR (FHA|USDA|VA) | 2 | $220,000 | $110,000 | $0 | 0.00% |
| FORT SMITH, AR-OK (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $0 | 0.00% |
| Russellville, AR (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| Batesville, AR (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $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 | 338 | $40,370,000 | $119,438 | $0 | 0.00% |
| VA | 1 | $155,000 | $155,000 | $0 | 0.00% |
For 2019, The Farmers & Merchants Bank's most frequently originated type of loan was Conventional, with 338 originations. Their 2nd most popular type was VA, with 1 originations.
Loan Reason
For 2019, The Farmers & Merchants Bank's most frequently cited loan purpose was Home Purchase, with 193 originations. The 2nd most popular reason was Refi, with 112 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 339 | $40,525,000 | $119,543 | $0 | 0.00% |
For 2019, The Farmers & Merchants Bank's most frequently cited loan duration was Other, with 339 originations.
Loan Sizing
2019 saw The Farmers & Merchants Bank place emphasis on $100,000 or less loans with 207 originations, totaling $10,105,000 in origination value.
Applicant Income
The Farmers & Merchants Bank lent most frequently to those with incomes in the $50k or less range, with 83 originations. The second most popular income band? $50k-75k, with 68 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 339 | $40,525,000 | $119,543 | $0 | 0.00% |
The Farmers & Merchants Bank lent most frequently to those with DTI ratios of Exempt%, with 339 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications85.01%
The Farmers & Merchants Bank has an average approval rate.
Pick Rate
Approvals leading to origination82.89%
The Farmers & Merchants Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 339 | $40,525,000 | $119,543 |
Occupancy Type Mix
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| The Farmers & Merchants Bank | 1 Bank Plaza Pocahontas, AR 72455 | Full Service B&M | $111,962 |
| 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 | $34,013 |
| The Farmers & Merchants Bank | 110 W Third Des Arc, AR 72040 | Full Service B&M | $54,476 |
| The Farmers & Merchants Bank | 1600 North Oak Street Morrilton, AR 72110 | Full Service B&M | $30,186 |
| 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 | $60,506 |
| The Farmers & Merchants Bank | 1960 Whitehead Drive Dewitt, AR 72042 | Full Service B&M | $56,280 |
| The Farmers & Merchants Bank | 200 Main Street West Fork, AR 72774 | Full Service B&M | $21,685 |
| The Farmers & Merchants Bank | 202 Hindman St Prairie Grove, AR 72753 | Full Service B&M | $17,734 |
| The Farmers & Merchants Bank | 203 North 1st Street Flippin, AR 72634 | Full Service B&M | $11,069 |
| 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 | $9,466 |
| The Farmers & Merchants Bank | 2592 North Gregg Ave, Suite 22 Fayetteville, AR 72703 | Full Service B&M | $17,955 |
| 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 | $26,601 |
| The Farmers & Merchants Bank | 3150 Wedington Drive Fayetteville, AR 72704 | Full Service B&M | $11,739 |
| The Farmers & Merchants Bank | 3210 Sw Regency Pkwy Bentonville, AR 72712 | Full Service B&M | $10,307 |
| The Farmers & Merchants Bank | 33 West Main Street Marianna, AR 72360 | Full Service B&M | $45,613 |
| The Farmers & Merchants Bank | 400 East Highland Drive Jonesboro, AR 72401 | Full Service B&M | $65,449 |
| The Farmers & Merchants Bank | 502 South Hickory Street Mountain Home, AR 72653 | Full Service B&M | $197,414 |
| The Farmers & Merchants Bank | 542 West Dickson Street Fayetteville, AR 72701 | Limited, Drive-thru | $7,251 |
| The Farmers & Merchants Bank | 701 East Main Street Gassville, AR 72635 | Full Service B&M | $16,582 |
| The Farmers & Merchants Bank | 708 South Main Street Stuttgart, AR 72160 | Full Service B&M | $175,909 |
| 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 | $52,674 |
| The Farmers & Merchants Bank | One South Block Fayetteville, AR 72703 | Full Service B&M | $157,738 |
| The Farmers & Merchants Bank | Seventh And Maple Streets Stuttgart, AR 72160 | Limited, Drive-thru | $0 |
| The Farmers & Merchants Bank | Sheffield Road And Highway 178 East Lakeview, AR 72642 | Full Service B&M | $23,395 |
For 2019, The Farmers & Merchants Bank had 29 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $58,466 |
| Net interest income | $49,840 |
| Total noninterest income | $11,091 |
| Gross Fiduciary activities income | $1,328 |
| Service charges on deposit accounts | $3,359 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $6,404 |
| Pre-tax net operating income | $16,874 |
| Securities gains (or losses, -) | $20 |
| Income before extraordinary items | $13,547 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $13,547 |
| Minority interest net income | $0 |
| Net income | $13,547 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $13,531 |
The Farmers & Merchants Bank's gross interest income from loans was $58,466,000.
The Farmers & Merchants Bank's net interest income from loans was $49,840,000.
The Farmers & Merchants Bank's fee based income from loans was $3,359,000.
The Farmers & Merchants Bank's net income from loans was $13,547,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $8,626 |
| Provision for credit losses | $2,375 |
| Total noninterest expense | $41,682 |
| Salaries and employee benefits | $24,146 |
| Premises and equipment expense | $4,396 |
| Additional noninterest expense | $13,140 |
| Applicable income taxes | $3,347 |
| Net charge-offs | $1,155 |
| Cash dividends | $34,000 |
The Farmers & Merchants Bank's interest expense for loans was $8,626,000.
The Farmers & Merchants Bank's payroll and benefits expense were $24,146,000.
The Farmers & Merchants Bank's property, plant and equipment expenses $4,396,000.
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 | 0.3% |
| 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 | $1,222,336 |
| Deposits held in domestic offices | $1,222,336 |
| Deposits by Individuals, partnerships, and corporations | $1,091,614 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $130,721 |
| 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 | $144,349 |
| Demand deposits | $105,856 |
| Nontransaction accounts | $1,077,986 |
| Money market deposit accounts (MMDAs) | $86,177 |
| Other savings deposits (excluding MMDAs) | $739,255 |
| Total time deposits | $252,553 |
| Total time and savings deposits | $1,116,479 |
| Noninterest-bearing deposits | $229,088 |
| Interest-bearing deposits | $993,248 |
| Retail deposits | $1,158,642 |
| IRAs and Keogh plan accounts | $34,738 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $1,493,989 |
| Cash & Balances due from depository institutions | $36,689 |
| Interest-bearing balances | $7,246 |
| Total securities | $197,418 |
| Federal funds sold & reverse repurchase | $56,294 |
| Net loans and leases | $1,033,782 |
| Loan and leases loss allowance | $8,846 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $36,120 |
| Other real estate owned | $2,417 |
| Goodwill and other intangibles | $59,258 |
| All other assets | $72,011 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $1,493,989 |
| Total Liabilities | $1,287,850 |
| Total deposits | $1,222,336 |
| Interest-bearing deposits | $993,248 |
| Deposits held in domestic offices | $1,222,336 |
| % insured (estimated) | $83 |
| Federal funds purchased and repurchase agreements | $39,219 |
| Trading liabilities | $0 |
| Other borrowed funds | $16,594 |
| Subordinated debt | $0 |
| All other liabilities | $9,701 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $1,033,782 |
| Loan and leases loss allowance | $8,846 |
| Total loans and leases (domestic) | $1,042,628 |
| All real estate loans | $800,405 |
| Real estate loans in domestic offices | $800,405 |
| Construction and development loans | $126,505 |
| Residential 1-4 family construction | $38,405 |
| Other construction, all land development and other land | $88,100 |
| Loans secured by nonfarm nonresidential properties | $282,118 |
| Nonfarm nonresidential secured by owner-occupied properties | $104,373 |
| Commercial real estate & other non-farm, non-residential | $177,745 |
| Multifamily residential real estate | $20,115 |
| 1-4 family residential loans | $276,769 |
| Farmland loans | $94,898 |
| Loans held in foreign offices | $0 |
| Farm loans | $85,247 |
| Commercial and industrial loans | $122,476 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $23,056 |
| Credit card loans | $3,463 |
| Related Plans | $723 |
| Consumer Auto Loans | $7,502 |
| Other loans to individuals | $11,368 |
| All other loans & leases | $11,444 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $6,834 |
| 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 had $1,033,782,000 of loans outstanding in 2019. $800,405,000 of loans were in real estate loans. $126,505,000 of loans were in development loans. $20,115,000 of loans were in multifamily mortgage loans. $276,769,000 of loans were in 1-4 family mortgage loans. $85,247,000 of loans were in farm loans. $3,463,000 of loans were in credit card loans. $7,502,000 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 | 593 | $92,017 | $155,172 |
| Nonfarm, nonresidential loans - <$100k | 216 | $8,292 | $38,389 |
| Nonfarm, nonresidential loans - $100-250k | 192 | $23,495 | $122,370 |
| Nonfarm, nonresidential loans - $250k-1MM | 185 | $60,230 | $325,568 |
| Commercial & Industrial, US addressed loans - <$1MM | 1,293 | $66,433 | $51,379 |
| Commercial & Industrial, US addressed loans - <$100k | 1,075 | $21,576 | $20,071 |
| Commercial & Industrial, US addressed loans - $100-250k | 124 | $13,162 | $106,145 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 94 | $31,695 | $337,181 |
| Farmland loans - <$1MM | 439 | $58,965 | $134,317 |
| Farmland loans - <$100k | 209 | $7,817 | $37,402 |
| Farmland loans - $100-250k | 130 | $15,682 | $120,631 |
| Farmland loans - $250k-1MM | 100 | $35,466 | $354,660 |
| Agriculture operations loans - <$1MM | 569 | $47,880 | $84,148 |
| Agriculture operations loans - <$100k | 343 | $7,562 | $22,047 |
| Agriculture operations loans - $100-250k | 94 | $8,903 | $94,713 |
| Agriculture operations loans - $250k-1MM | 132 | $31,415 | $237,992 |