Farmers And Miners Bank Mortgage Rates, Fees & Info

Pennington Gap, VA

LEI: 5493001HYUPH0X6FT603

Tax ID: 54-1050774

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Farmers And Miners Bank is a smaller bank specializing in Refi and Home Purchase loans. Farmers And Miners Bank has a high proportion of conventional loans. Their top markets by origination volume include: Kingsport, Big Stone Gap, Lexington, Richmond, and Frankfort among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Farmers And Miners Bank has an above 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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    Originations

    104

    Origination Dollar Volume (All Markets)

    $7,330,000

    Employee count

    57

    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
    Outside of Metro Areas 78 $4,540,000 $58,205 $0 0.00%
    KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 8 $750,000 $93,750 $0 0.00%
    Big Stone Gap, VA (FHA|USDA|VA) 13 $545,000 $41,923 $0 0.00%
    LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 1 $425,000 $425,000 $0 0.00%
    RICHMOND, VA (FHA|USDA|VA) 1 $365,000 $365,000 $0 0.00%
    Frankfort, KY (FHA|USDA|VA) 1 $285,000 $285,000 $0 0.00%
    MORRISTOWN, TN (FHA|USDA|VA) 1 $275,000 $275,000 $0 0.00%
    KNOXVILLE, TN (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
    Farmers And Miners Bank's top markets include Kingsport, Big Stone Gap, Lexington, Richmond, and Frankfort among others.

    Their top states include:
  • Virginia (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 104 $7,330,000 $70,481 $0 0.00%

    For 2019, Farmers And Miners Bank's most frequently originated type of loan was Conventional, with 104 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 53 $4,405,000 $83,113 $0 0.00%
    Home Purchase 39 $2,475,000 $63,462 $0 0.00%
    Other 9 $375,000 $41,667 $0 0.00%
    Home Improvement 3 $75,000 $25,000 $0 0.00%

    For 2019, Farmers And Miners Bank's most frequently cited loan purpose was Refi, with 53 originations. The 2nd most popular reason was Home Purchase, with 39 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 104 $7,330,000 $70,481 $0 0.00%

    For 2019, Farmers And Miners Bank's most frequently cited loan duration was Other, with 104 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 86 $3,860,000 $44,884 $0 0.00%
    $100k-200k 11 $1,375,000 $125,000 $0 0.00%
    $200k-400k 6 $1,670,000 $278,333 $0 0.00%
    $400k-600k 1 $425,000 $425,000 $0 0.00%

    2019 saw Farmers And Miners Bank place emphasis on $100,000 or less loans with 86 originations, totaling $3,860,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 38 $1,640,000 $43,158 $0 0.00%
    $50k-75k 29 $1,745,000 $60,172 $0 0.00%
    $100k-150k 10 $830,000 $83,000 $0 0.00%
    $75k-100k 9 $665,000 $73,889 $0 0.00%
    $250k+ 3 $665,000 $221,667 $0 0.00%
    $150k-250k 1 $45,000 $45,000 $0 0.00%

    Farmers And Miners Bank lent most frequently to those with incomes in the $50k or less range, with 38 originations. The second most popular income band? $50k-75k, with 29 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 104 $7,330,000 $70,481 $0 0.00%

    Farmers And Miners Bank lent most frequently to those with DTI ratios of Exempt%, with 104 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 89 $5,515,000 $61,966 $0 0.00%
    Not applicable 14 $1,740,000 $124,286 $0 0.00%
    American Indian 1 $75,000 $75,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.13%

    Farmers And Miners Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.50%

    Farmers And Miners Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 104 $7,330,000 $70,481

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $45,000 $45,000
    Multifamily:Site-Built 3 $165,000 $55,000
    Single Family (1-4 Units):Manufactured 27 $1,495,000 $55,370
    Single Family (1-4 Units):Site-Built 73 $5,625,000 $77,055

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Farmers and Miners Bank 248 Station Creek Road Ewing, VA 24248 Full Service B&M $13,202
    Farmers and Miners Bank 2944 Us Hwy 23 North Weber City, VA 24290 Full Service B&M $9,182
    Farmers and Miners Bank 331 East Main Street Wise, VA 24293 Full Service B&M $16,729
    Farmers and Miners Bank 41526 West Morgan Avenue Pennington Gap, VA 24277 Full Service B&M $31,122
    Farmers and Miners Bank 5283 Dickenson Highway Clintwood, VA 24228 Full Service B&M $29,149
    Farmers and Miners Bank 6489 Dr. Thomas Walker Rd Rose Hill, VA 24281 Full Service B&M $16,739

    For 2019, Farmers And Miners Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $6,865
    Net interest income $6,311
    Total noninterest income $981
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $382
    Trading account gains and fees $0
    Additional Noninterest Income $599
    Pre-tax net operating income $2,084
    Securities gains (or losses, -) $-2
    Income before extraordinary items $1,682
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,682
    Minority interest net income $0
    Net income $1,682
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,683

    Farmers And Miners Bank's gross interest income from loans was $6,865,000.
    Farmers And Miners Bank's net interest income from loans was $6,311,000.
    Farmers And Miners Bank's fee based income from loans was $382,000.
    Farmers And Miners Bank's net income from loans was $1,682,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $554
    Provision for credit losses $0
    Total noninterest expense $5,208
    Salaries and employee benefits $3,046
    Premises and equipment expense $690
    Additional noninterest expense $1,472
    Applicable income taxes $400
    Net charge-offs $100
    Cash dividends $1,000

    Farmers And Miners Bank's interest expense for loans was $554,000.
    Farmers And Miners Bank's payroll and benefits expense were $3,046,000.
    Farmers And Miners Bank's property, plant and equipment expenses $690,000.

    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 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    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 $113,754
    Deposits held in domestic offices $113,754
    Deposits by Individuals, partnerships, and corporations $105,670
    Deposits by U.S. Government $2
    Deposits by States and political subdivisions in the U.S. $8,082
    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 $47,370
    Demand deposits $36,568
    Nontransaction accounts $66,384
    Money market deposit accounts (MMDAs) $2,791
    Other savings deposits (excluding MMDAs) $24,185
    Total time deposits $39,408
    Total time and savings deposits $77,186
    Noninterest-bearing deposits $36,568
    Interest-bearing deposits $77,186
    Retail deposits $106,406
    IRAs and Keogh plan accounts $6,986
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $133,374
    Cash & Balances due from depository institutions $41,098
    Interest-bearing balances $36,972
    Total securities $26,163
    Federal funds sold & reverse repurchase $2,186
    Net loans and leases $61,065
    Loan and leases loss allowance $1,217
    Trading account assets $0
    Bank premises and fixed assets $1,746
    Other real estate owned $85
    Goodwill and other intangibles $0
    All other assets $1,031

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $133,374
    Total Liabilities $114,219
    Total deposits $113,754
    Interest-bearing deposits $77,186
    Deposits held in domestic offices $113,754
    % insured (estimated) $95
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $465

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $61,065
    Loan and leases loss allowance $1,217
    Total loans and leases (domestic) $62,282
    All real estate loans $47,276
    Real estate loans in domestic offices $47,276
    Construction and development loans $3,287
    Residential 1-4 family construction $309
    Other construction, all land development and other land $2,978
    Loans secured by nonfarm nonresidential properties $10,985
    Nonfarm nonresidential secured by owner-occupied properties $7,138
    Commercial real estate & other non-farm, non-residential $3,847
    Multifamily residential real estate $981
    1-4 family residential loans $27,743
    Farmland loans $4,280
    Loans held in foreign offices $0
    Farm loans $490
    Commercial and industrial loans $4,011
    To non-U.S. addressees $0
    Loans to individuals $9,921
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $3,832
    Other loans to individuals $6,089
    All other loans & leases $584
    Loans to foreign governments and official institutions $0
    Other loans $90
    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 $505
    Non 1-4 family restructured loans & leases $50
    Total loans and leases (foreign) $0

    Farmers and Miners Bank had $61,065,000 of loans outstanding in 2019. $47,276,000 of loans were in real estate loans. $3,287,000 of loans were in development loans. $981,000 of loans were in multifamily mortgage loans. $27,743,000 of loans were in 1-4 family mortgage loans. $490,000 of loans were in farm loans. $0 of loans were in credit card loans. $3,832,000 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 85 $8,668 $101,976
    Nonfarm, nonresidential loans - <$100k 52 $1,401 $26,942
    Nonfarm, nonresidential loans - $100-250k 18 $1,820 $101,111
    Nonfarm, nonresidential loans - $250k-1MM 15 $5,447 $363,133
    Commercial & Industrial, US addressed loans - <$1MM 124 $4,011 $32,347
    Commercial & Industrial, US addressed loans - <$100k 115 $1,933 $16,809
    Commercial & Industrial, US addressed loans - $100-250k 5 $462 $92,400
    Commercial & Industrial, US addressed loans - $250k-1MM 4 $1,616 $404,000
    Farmland loans - <$1MM 38 $1,841 $48,447
    Farmland loans - <$100k 32 $969 $30,281
    Farmland loans - $100-250k 5 $659 $131,800
    Farmland loans - $250k-1MM 1 $213 $213,000
    Agriculture operations loans - <$1MM 39 $490 $12,564
    Agriculture operations loans - <$100k 39 $490 $12,564