The Farmers & Merchants Bank Mortgage Rates, Fees & Info
Stuttgart, ARLEI: 54930009DUZUXUZIDL84
Tax ID: 71-0203044
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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 Hot Springs among others. We have data for 15 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% | 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
622Origination Dollar Volume (All Markets)
$94,480,000Employee count
350Top 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) | 156 | $37,660,000 | $241,410 | $0 | 0.00% |
| Outside of Metro Areas | 264 | $25,270,000 | $95,720 | $0 | 0.00% |
| Mountain Home, AR (FHA|USDA|VA) | 87 | $12,355,000 | $142,011 | $0 | 0.00% |
| JONESBORO, AR (FHA|USDA|VA) | 63 | $9,565,000 | $151,825 | $0 | 0.00% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 26 | $5,400,000 | $207,692 | $0 | 0.00% |
| HOT SPRINGS, AR (FHA|USDA|VA) | 7 | $1,365,000 | $195,000 | $0 | 0.00% |
| Paragould, AR (FHA|USDA|VA) | 4 | $910,000 | $227,500 | $0 | 0.00% |
| Searcy, AR (FHA|USDA|VA) | 4 | $540,000 | $135,000 | $0 | 0.00% |
| Blytheville, AR (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $0 | 0.00% |
| FORT SMITH, AR-OK (FHA|USDA|VA) | 4 | $380,000 | $95,000 | $0 | 0.00% |
| TULSA, OK (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| PINE BLUFF, AR (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| JOPLIN, MO (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| Batesville, AR (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| Forrest City, AR (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $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 | 622 | $94,480,000 | $151,897 | $0 | 0.00% |
For 2020, The Farmers & Merchants Bank's most frequently originated type of loan was Conventional, with 622 originations.
Loan Reason
For 2020, The Farmers & Merchants Bank's most frequently cited loan purpose was Home Purchase, with 294 originations. The 2nd most popular reason was Refi, with 230 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 622 | $94,480,000 | $151,897 | $0 | 0.00% |
For 2020, The Farmers & Merchants Bank's most frequently cited loan duration was Other, with 622 originations.
Loan Sizing
2020 saw The Farmers & Merchants Bank place emphasis on $100,000 or less loans with 299 originations, totaling $15,735,000 in origination value.
Applicant Income
The Farmers & Merchants Bank lent most frequently to those with incomes in the $50k or less range, with 159 originations. The second most popular income band? $50k-75k, with 102 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 622 | $94,480,000 | $151,897 | $0 | 0.00% |
The Farmers & Merchants Bank lent most frequently to those with DTI ratios of Exempt%, with 622 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications87.39%
The Farmers & Merchants Bank has an average approval rate.
Pick Rate
Approvals leading to origination84.08%
The Farmers & Merchants Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 622 | $94,480,000 | $151,897 |
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 | $127,637 |
| 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 | $38,324 |
| The Farmers & Merchants Bank | 110 W Third Des Arc, AR 72040 | Full Service B&M | $53,377 |
| The Farmers & Merchants Bank | 1600 North Oak Street Morrilton, AR 72110 | Full Service B&M | $21,695 |
| 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 | $78,434 |
| The Farmers & Merchants Bank | 1960 Whitehead Drive Dewitt, AR 72042 | Full Service B&M | $66,532 |
| The Farmers & Merchants Bank | 200 Main Street West Fork, AR 72774 | Full Service B&M | $28,216 |
| The Farmers & Merchants Bank | 202 Hindman St Prairie Grove, AR 72753 | Full Service B&M | $19,506 |
| The Farmers & Merchants Bank | 203 North 1st Street Flippin, AR 72634 | Full Service B&M | $9,431 |
| 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 | $10,968 |
| 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 | $29,356 |
| The Farmers & Merchants Bank | 3150 Wedington Drive Fayetteville, AR 72704 | Limited, Drive-thru | $14,564 |
| The Farmers & Merchants Bank | 3210 Sw Regency Pkwy Bentonville, AR 72712 | Full Service B&M | $23,874 |
| The Farmers & Merchants Bank | 33 West Main Street Marianna, AR 72360 | Full Service B&M | $49,115 |
| The Farmers & Merchants Bank | 400 East Highland Drive Jonesboro, AR 72401 | Full Service B&M | $83,939 |
| The Farmers & Merchants Bank | 502 South Hickory Street Mountain Home, AR 72653 | Full Service B&M | $207,109 |
| The Farmers & Merchants Bank | 542 West Dickson Street Fayetteville, AR 72701 | Limited, Drive-thru | $6,952 |
| The Farmers & Merchants Bank | 701 East Main Street Gassville, AR 72635 | Full Service B&M | $11,106 |
| The Farmers & Merchants Bank | 708 South Main Street Stuttgart, AR 72160 | Full Service B&M | $185,063 |
| 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 | $56,460 |
| The Farmers & Merchants Bank | One South Block Fayetteville, AR 72703 | Full Service B&M | $174,294 |
| 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 | $16,744 |
For 2020, The Farmers & Merchants Bank had 28 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $59,691 |
| Net interest income | $53,021 |
| Total noninterest income | $11,772 |
| Gross Fiduciary activities income | $1,891 |
| Service charges on deposit accounts | $2,802 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $7,079 |
| Pre-tax net operating income | $16,376 |
| Securities gains (or losses, -) | $244 |
| Income before extraordinary items | $13,112 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $13,112 |
| Minority interest net income | $0 |
| Net income | $13,112 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $12,919 |
The Farmers & Merchants Bank's gross interest income from loans was $59,691,000.
The Farmers & Merchants Bank's net interest income from loans was $53,021,000.
The Farmers & Merchants Bank's fee based income from loans was $2,802,000.
The Farmers & Merchants Bank's net income from loans was $13,112,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $6,670 |
| Provision for credit losses | $2,750 |
| Total noninterest expense | $45,667 |
| Salaries and employee benefits | $25,934 |
| Premises and equipment expense | $5,084 |
| Additional noninterest expense | $14,649 |
| Applicable income taxes | $3,508 |
| Net charge-offs | $951 |
| Cash dividends | $11,611 |
The Farmers & Merchants Bank's interest expense for loans was $6,670,000.
The Farmers & Merchants Bank's payroll and benefits expense were $25,934,000.
The Farmers & Merchants Bank's property, plant and equipment expenses $5,084,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 0.0% |
| Real Estate loans | 1.0% |
| Construction & Land Development loans | 0.0% |
| Nonfarm, nonresidential loans | 2.0% |
| 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 | $1,393,553 |
| Deposits held in domestic offices | $1,393,553 |
| Deposits by Individuals, partnerships, and corporations | $1,244,916 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $148,570 |
| Deposits by Commercial banks and other depository institutions in U.S. | $66 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $188,450 |
| Demand deposits | $142,511 |
| Nontransaction accounts | $1,205,102 |
| Money market deposit accounts (MMDAs) | $98,757 |
| Other savings deposits (excluding MMDAs) | $853,500 |
| Total time deposits | $252,846 |
| Total time and savings deposits | $1,251,041 |
| Noninterest-bearing deposits | $276,007 |
| Interest-bearing deposits | $1,117,546 |
| Retail deposits | $1,320,500 |
| IRAs and Keogh plan accounts | $34,493 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $1,682,839 |
| Cash & Balances due from depository institutions | $42,807 |
| Interest-bearing balances | $7,053 |
| Total securities | $281,150 |
| Federal funds sold & reverse repurchase | $193,794 |
| Net loans and leases | $996,309 |
| Loan and leases loss allowance | $10,646 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $35,848 |
| Other real estate owned | $675 |
| Goodwill and other intangibles | $58,047 |
| All other assets | $74,209 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $1,682,839 |
| Total Liabilities | $1,474,083 |
| Total deposits | $1,393,553 |
| Interest-bearing deposits | $1,117,546 |
| Deposits held in domestic offices | $1,393,553 |
| % insured (estimated) | $82 |
| Federal funds purchased and repurchase agreements | $58,095 |
| Trading liabilities | $0 |
| Other borrowed funds | $11,258 |
| Subordinated debt | $0 |
| All other liabilities | $11,177 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $996,309 |
| Loan and leases loss allowance | $10,646 |
| Total loans and leases (domestic) | $1,006,955 |
| All real estate loans | $766,914 |
| Real estate loans in domestic offices | $766,914 |
| Construction and development loans | $118,158 |
| Residential 1-4 family construction | $29,223 |
| Other construction, all land development and other land | $88,935 |
| Loans secured by nonfarm nonresidential properties | $288,682 |
| Nonfarm nonresidential secured by owner-occupied properties | $107,700 |
| Commercial real estate & other non-farm, non-residential | $180,982 |
| Multifamily residential real estate | $21,109 |
| 1-4 family residential loans | $254,543 |
| Farmland loans | $84,422 |
| Loans held in foreign offices | $0 |
| Farm loans | $80,926 |
| Commercial and industrial loans | $127,189 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $20,595 |
| Credit card loans | $3,033 |
| Related Plans | $682 |
| Consumer Auto Loans | $6,023 |
| Other loans to individuals | $10,857 |
| All other loans & leases | $11,331 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $7,062 |
| 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 $996,309,000 of loans outstanding in 2020. $766,914,000 of loans were in real estate loans. $118,158,000 of loans were in development loans. $21,109,000 of loans were in multifamily mortgage loans. $254,543,000 of loans were in 1-4 family mortgage loans. $80,926,000 of loans were in farm loans. $3,033,000 of loans were in credit card loans. $6,023,000 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 | 561 | $88,546 | $157,836 |
| Nonfarm, nonresidential loans - <$100k | 204 | $7,809 | $38,279 |
| Nonfarm, nonresidential loans - $100-250k | 186 | $23,497 | $126,328 |
| Nonfarm, nonresidential loans - $250k-1MM | 171 | $57,240 | $334,737 |
| Commercial & Industrial, US addressed loans - <$1MM | 1,382 | $73,060 | $52,865 |
| Commercial & Industrial, US addressed loans - <$100k | 1,126 | $23,826 | $21,160 |
| Commercial & Industrial, US addressed loans - $100-250k | 159 | $17,591 | $110,635 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 97 | $31,643 | $326,216 |
| Farmland loans - <$1MM | 421 | $50,817 | $120,705 |
| Farmland loans - <$100k | 211 | $7,927 | $37,569 |
| Farmland loans - $100-250k | 123 | $14,555 | $118,333 |
| Farmland loans - $250k-1MM | 87 | $28,335 | $325,690 |
| Agriculture operations loans - <$1MM | 502 | $46,811 | $93,249 |
| Agriculture operations loans - <$100k | 285 | $7,330 | $25,719 |
| Agriculture operations loans - $100-250k | 97 | $10,053 | $103,639 |
| Agriculture operations loans - $250k-1MM | 120 | $29,428 | $245,233 |