The Farmers & Merchants Bank Mortgage Rates, Fees & Info

Stuttgart, AR

LEI: 54930009DUZUXUZIDL84

Tax ID: 71-0203044

Latest/2023 | 2022 Data | 2021 Data | 2020 Data |

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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 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% 3/27/24
30 Year Conventional Refi 6.40% 3/27/24
30 Year Cash-out Refi 6.85% 3/27/24
15 Year Conventional Purchase 6.11% 3/27/24
15 Year Conventional Refi 6.15% 3/27/24
15 Year Cash-out Refi 6.15% 3/27/24
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






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from The Farmers & Merchants Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

622

Origination Dollar Volume (All Markets)

$94,480,000

Employee count

350

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) 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%
The Farmers & Merchants Bank's top markets include Fayetteville, Mountain Home, Jonesboro, Little Rock, and Hot Springs among others.

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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 294 $35,480,000 $120,680 $0 0.00%
    Refi 230 $49,040,000 $213,217 $0 0.00%
    Home Improvement 33 $1,825,000 $55,303 $0 0.00%
    Other 33 $2,235,000 $67,727 $0 0.00%
    Cash Out Refi 32 $5,900,000 $184,375 $0 0.00%

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 299 $15,735,000 $52,625 $0 0.00%
    $100k-200k 195 $28,175,000 $144,487 $0 0.00%
    $200k-400k 98 $27,010,000 $275,612 $0 0.00%
    $400k-600k 19 $8,815,000 $463,947 $0 0.00%
    $1MM+ 6 $10,660,000 $1,776,667 $0 0.00%
    $600k-1MM 5 $4,085,000 $817,000 $0 0.00%

    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

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 159 $10,585,000 $66,572 $0 0.00%
    $50k-75k 102 $10,260,000 $100,588 $0 0.00%
    $100k-150k 77 $12,665,000 $164,481 $0 0.00%
    $75k-100k 70 $9,700,000 $138,571 $0 0.00%
    $150k-250k 47 $12,645,000 $269,043 $0 0.00%
    $250k+ 17 $5,315,000 $312,647 $0 0.00%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 449 $57,705,000 $128,519 $0 0.00%
    Not applicable 125 $29,585,000 $236,680 $0 0.00%
    Not provided 25 $4,245,000 $169,800 $0 0.00%
    Asian 4 $1,200,000 $300,000 $0 0.00%
    Black 13 $1,015,000 $78,077 $0 0.00%
    American Indian 4 $390,000 $97,500 $0 0.00%
    Asian Indian 2 $340,000 $170,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    87.39%

    The Farmers & Merchants Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.08%

    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

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 2 $2,090,000 $1,045,000
    Multifamily:Site-Built 20 $13,190,000 $659,500
    Single Family (1-4 Units):Manufactured 53 $2,675,000 $50,472
    Single Family (1-4 Units):Site-Built 547 $76,525,000 $139,899

    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