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: Big Stone Gap, Kingsport, Lexington, Lynchburg, and Knoxville among others. We have data for 6 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

    96

    Origination Dollar Volume (All Markets)

    $9,650,000

    Employee count

    55

    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 66 $5,120,000 $77,576 $0 0.00%
    Big Stone Gap, VA (FHA|USDA|VA) 17 $2,035,000 $119,706 $0 0.00%
    KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 7 $1,165,000 $166,429 $0 0.00%
    LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 3 $1,015,000 $338,333 $0 0.00%
    LYNCHBURG, VA (FHA|USDA|VA) 2 $240,000 $120,000 $0 0.00%
    KNOXVILLE, TN (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
    Farmers And Miners Bank's top markets include Big Stone Gap, Kingsport, Lexington, Lynchburg, and Knoxville 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 96 $9,650,000 $100,521 $0 0.00%

    For 2021, Farmers And Miners Bank's most frequently originated type of loan was Conventional, with 96 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 52 $6,140,000 $118,077 $0 0.00%
    Home Purchase 36 $3,070,000 $85,278 $0 0.00%
    Other 7 $395,000 $56,429 $0 0.00%
    Home Improvement 1 $45,000 $45,000 $0 0.00%

    For 2021, Farmers And Miners Bank's most frequently cited loan purpose was Refi, with 52 originations. The 2nd most popular reason was Home Purchase, with 36 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 96 $9,650,000 $100,521 $0 0.00%

    For 2021, Farmers And Miners Bank's most frequently cited loan duration was Other, with 96 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 68 $3,490,000 $51,324 $0 0.00%
    $100k-200k 19 $2,445,000 $128,684 $0 0.00%
    $200k-400k 6 $1,770,000 $295,000 $0 0.00%
    $600k-1MM 2 $1,410,000 $705,000 $0 0.00%
    $400k-600k 1 $535,000 $535,000 $0 0.00%

    2021 saw Farmers And Miners Bank place emphasis on $100,000 or less loans with 68 originations, totaling $3,490,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 28 $2,260,000 $80,714 $0 0.00%
    $50k or less 28 $1,320,000 $47,143 $0 0.00%
    $100k-150k 10 $1,120,000 $112,000 $0 0.00%
    $75k-100k 9 $685,000 $76,111 $0 0.00%
    $150k-250k 7 $535,000 $76,429 $0 0.00%
    $250k+ 2 $160,000 $80,000 $0 0.00%

    Farmers And Miners Bank lent most frequently to those with incomes in the $50k-75k range, with 28 originations. The second most popular income band? $50k or less, with 28 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 96 $9,650,000 $100,521 $0 0.00%

    Farmers And Miners Bank lent most frequently to those with DTI ratios of Exempt%, with 96 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 84 $6,080,000 $72,381 $0 0.00%
    Not applicable 12 $3,570,000 $297,500 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.56%

    Farmers And Miners Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.33%

    Farmers And Miners Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 96 $9,650,000 $100,521

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    96 $9,650,000 $100,521

    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 $17,120
    Farmers and Miners Bank 2944 Us Hwy 23 North Weber City, VA 24290 Full Service B&M $11,848
    Farmers and Miners Bank 331 East Main Street Wise, VA 24293 Full Service B&M $18,379
    Farmers and Miners Bank 41526 West Morgan Avenue Pennington Gap, VA 24277 Full Service B&M $37,860
    Farmers and Miners Bank 5283 Dickenson Highway Clintwood, VA 24228 Full Service B&M $36,054
    Farmers and Miners Bank 6489 Dr. Thomas Walker Rd Rose Hill, VA 24281 Full Service B&M $19,905

    For 2021, Farmers And Miners Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $6,495
    Net interest income $6,338
    Total noninterest income $1,012
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $280
    Trading account gains and fees $0
    Additional Noninterest Income $732
    Pre-tax net operating income $1,765
    Securities gains (or losses, -) $36
    Income before extraordinary items $1,451
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,451
    Minority interest net income $0
    Net income $1,451
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,421

    Farmers And Miners Bank's gross interest income from loans was $6,495,000.
    Farmers And Miners Bank's net interest income from loans was $6,338,000.
    Farmers And Miners Bank's fee based income from loans was $280,000.
    Farmers And Miners Bank's net income from loans was $1,451,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $157
    Provision for credit losses $340
    Total noninterest expense $5,245
    Salaries and employee benefits $3,065
    Premises and equipment expense $722
    Additional noninterest expense $1,458
    Applicable income taxes $350
    Net charge-offs $73
    Cash dividends $900

    Farmers And Miners Bank's interest expense for loans was $157,000.
    Farmers And Miners Bank's payroll and benefits expense were $3,065,000.
    Farmers And Miners Bank's property, plant and equipment expenses $722,000.

    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 $147,375
    Deposits held in domestic offices $147,375
    Deposits by Individuals, partnerships, and corporations $134,673
    Deposits by U.S. Government $13
    Deposits by States and political subdivisions in the U.S. $12,689
    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 $74,036
    Demand deposits $60,227
    Nontransaction accounts $73,339
    Money market deposit accounts (MMDAs) $3,705
    Other savings deposits (excluding MMDAs) $34,982
    Total time deposits $34,652
    Total time and savings deposits $87,148
    Noninterest-bearing deposits $60,227
    Interest-bearing deposits $87,148
    Retail deposits $140,437
    IRAs and Keogh plan accounts $7,159
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $167,799
    Cash & Balances due from depository institutions $53,172
    Interest-bearing balances $49,098
    Total securities $30,351
    Federal funds sold & reverse repurchase $698
    Net loans and leases $80,895
    Loan and leases loss allowance $1,414
    Trading account assets $0
    Bank premises and fixed assets $1,705
    Other real estate owned $54
    Goodwill and other intangibles $0
    All other assets $924

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $167,799
    Total Liabilities $147,746
    Total deposits $147,375
    Interest-bearing deposits $87,148
    Deposits held in domestic offices $147,375
    % insured (estimated) $91
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $371

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $80,895
    Loan and leases loss allowance $1,414
    Total loans and leases (domestic) $82,309
    All real estate loans $50,244
    Real estate loans in domestic offices $50,244
    Construction and development loans $3,744
    Residential 1-4 family construction $144
    Other construction, all land development and other land $3,600
    Loans secured by nonfarm nonresidential properties $11,581
    Nonfarm nonresidential secured by owner-occupied properties $5,919
    Commercial real estate & other non-farm, non-residential $5,662
    Multifamily residential real estate $2,562
    1-4 family residential loans $28,254
    Farmland loans $4,103
    Loans held in foreign offices $0
    Farm loans $527
    Commercial and industrial loans $20,036
    To non-U.S. addressees $0
    Loans to individuals $9,922
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $4,165
    Other loans to individuals $5,757
    All other loans & leases $1,580
    Loans to foreign governments and official institutions $0
    Other loans $58
    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 $384
    Non 1-4 family restructured loans & leases $40
    Total loans and leases (foreign) $0

    Farmers and Miners Bank had $80,895,000 of loans outstanding in 2021. $50,244,000 of loans were in real estate loans. $3,744,000 of loans were in development loans. $2,562,000 of loans were in multifamily mortgage loans. $28,254,000 of loans were in 1-4 family mortgage loans. $527,000 of loans were in farm loans. $0 of loans were in credit card loans. $4,165,000 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 74 $7,845 $106,014
    Nonfarm, nonresidential loans - <$100k 38 $1,390 $36,579
    Nonfarm, nonresidential loans - $100-250k 25 $3,149 $125,960
    Nonfarm, nonresidential loans - $250k-1MM 11 $3,306 $300,545
    Commercial & Industrial, US addressed loans - <$1MM 308 $20,036 $65,052
    Commercial & Industrial, US addressed loans - <$100k 238 $7,547 $31,710
    Commercial & Industrial, US addressed loans - $100-250k 57 $8,316 $145,895
    Commercial & Industrial, US addressed loans - $250k-1MM 13 $4,173 $321,000
    Farmland loans - <$1MM 27 $1,274 $47,185
    Farmland loans - <$100k 23 $768 $33,391
    Farmland loans - $100-250k 4 $506 $126,500
    Agriculture operations loans - <$1MM 34 $527 $15,500
    Agriculture operations loans - <$100k 34 $527 $15,500