Farmers Bank Mortgage Rates, Fees & Info

Greenwood, AR

LEI: 5493003L2LYA333BZY52

Tax ID: 71-0054310

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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 Bank is a smaller bank specializing in Home Purchase loans. Farmers Bank has a high proportion of conventional loans. Their top markets by origination volume include: Fort Smith, Fayetteville, Branson, and Oklahoma City among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Farmers 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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    Originations

    96

    Origination Dollar Volume (All Markets)

    $12,480,000

    Employee count

    64

    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
    FORT SMITH, AR-OK (FHA|USDA|VA) 86 $11,590,000 $134,767 $0 0.00%
    Outside of Metro Areas 7 $495,000 $70,714 $0 0.00%
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
    Branson, MO (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
    OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $35,000 $35,000 $0 0.00%
    Farmers Bank's top markets include Fort Smith, Fayetteville, Branson, and Oklahoma City among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 96 $12,480,000 $130,000 $0 0.00%

    For 2019, Farmers 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
    Home Purchase 52 $8,790,000 $169,038 $0 0.00%
    Refi 21 $2,435,000 $115,952 $0 0.00%
    Home Improvement 13 $695,000 $53,462 $0 0.00%
    Other 10 $560,000 $56,000 $0 0.00%

    For 2019, Farmers Bank's most frequently cited loan purpose was Home Purchase, with 52 originations. The 2nd most popular reason was Refi, with 21 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 96 $12,480,000 $130,000 $0 0.00%

    For 2019, Farmers 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 55 $2,695,000 $49,000 $0 0.00%
    $100k-200k 23 $3,225,000 $140,217 $0 0.00%
    $200k-400k 13 $3,245,000 $249,615 $0 0.00%
    $400k-600k 4 $1,910,000 $477,500 $0 0.00%
    $1MM+ 1 $1,405,000 $1,405,000 $0 0.00%

    2019 saw Farmers Bank place emphasis on $100,000 or less loans with 55 originations, totaling $2,695,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 24 $1,340,000 $55,833 $0 0.00%
    $50k-75k 22 $2,670,000 $121,364 $0 0.00%
    $100k-150k 14 $1,870,000 $133,571 $0 0.00%
    $75k-100k 12 $1,000,000 $83,333 $0 0.00%
    $150k-250k 10 $1,950,000 $195,000 $0 0.00%
    $250k+ 8 $2,600,000 $325,000 $0 0.00%

    Farmers Bank lent most frequently to those with incomes in the $50k or less range, with 24 originations. The second most popular income band? $50k-75k, with 22 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 96 $12,480,000 $130,000 $0 0.00%

    Farmers 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 91 $11,705,000 $128,626 $0 0.00%
    Not applicable 4 $740,000 $185,000 $0 0.00%
    American Indian 1 $35,000 $35,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    81.33%

    Farmers Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    72.92%

    Farmers Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 96 $12,480,000 $130,000

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $465,000 $465,000
    Single Family (1-4 Units):Manufactured 11 $435,000 $39,545
    Single Family (1-4 Units):Site-Built 84 $11,580,000 $137,857

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Farmers Bank 103 North State Highway 45 Bonanza, AR 72916 Full Service B&M $1,875
    Farmers Bank 120 Highway 71 Ne Huntington, AR 72940 Full Service B&M $802
    Farmers Bank 1308 West Center Geeenwood, AR 72936 Full Service B&M $8,098
    Farmers Bank 16 Huntington Avenue Mansfield, AR 72944 Full Service B&M $5,063
    Farmers Bank 200 Main Street Hackett, AR 72937 Full Service B&M $10,440
    Farmers Bank 227 Fort Street Barling, AR 72923 Full Service B&M $317
    Farmers Bank 25 S Broadway St Hartford, AR 72938 Full Service B&M $10,762
    Farmers Bank 501 West Main Street Lavaca, AR 72941 Full Service B&M $3,043
    Farmers Bank 71 West Center St Greenwood, AR 72936 Full Service B&M $106,563
    Farmers Bank 7820 Rogers Avenue Fort Smith, AR 72901 Full Service B&M $9,388
    Farmers Bank 8420 Highway 71 South Fort Smith, AR 72901 Full Service B&M $15,644

    For 2019, Farmers Bank had 11 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $8,893
    Net interest income $7,861
    Total noninterest income $1,377
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,081
    Trading account gains and fees $0
    Additional Noninterest Income $296
    Pre-tax net operating income $1,448
    Securities gains (or losses, -) $94
    Income before extraordinary items $1,320
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,320
    Minority interest net income $0
    Net income $1,320
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,239

    Farmers Bank's gross interest income from loans was $8,893,000.
    Farmers Bank's net interest income from loans was $7,861,000.
    Farmers Bank's fee based income from loans was $1,081,000.
    Farmers Bank's net income from loans was $1,320,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,032
    Provision for credit losses $0
    Total noninterest expense $7,790
    Salaries and employee benefits $3,632
    Premises and equipment expense $2,159
    Additional noninterest expense $1,999
    Applicable income taxes $222
    Net charge-offs $-295
    Cash dividends $1,725

    Farmers Bank's interest expense for loans was $1,032,000.
    Farmers Bank's payroll and benefits expense were $3,632,000.
    Farmers Bank's property, plant and equipment expenses $2,159,000.

    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 $178,516
    Deposits held in domestic offices $178,516
    Deposits by Individuals, partnerships, and corporations $144,727
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $33,789
    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 $98,384
    Demand deposits $42,278
    Nontransaction accounts $80,132
    Money market deposit accounts (MMDAs) $11,581
    Other savings deposits (excluding MMDAs) $24,097
    Total time deposits $44,454
    Total time and savings deposits $136,238
    Noninterest-bearing deposits $42,278
    Interest-bearing deposits $136,238
    Retail deposits $172,145
    IRAs and Keogh plan accounts $9,152
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $219,322
    Cash & Balances due from depository institutions $5,990
    Interest-bearing balances $0
    Total securities $48,616
    Federal funds sold & reverse repurchase $17,050
    Net loans and leases $126,144
    Loan and leases loss allowance $1,476
    Trading account assets $0
    Bank premises and fixed assets $12,332
    Other real estate owned $0
    Goodwill and other intangibles $1,637
    All other assets $7,553

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $219,322
    Total Liabilities $178,963
    Total deposits $178,516
    Interest-bearing deposits $136,238
    Deposits held in domestic offices $178,516
    % insured (estimated) $81
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $447

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $126,144
    Loan and leases loss allowance $1,476
    Total loans and leases (domestic) $127,620
    All real estate loans $100,607
    Real estate loans in domestic offices $100,607
    Construction and development loans $6,047
    Residential 1-4 family construction $6,047
    Other construction, all land development and other land $0
    Loans secured by nonfarm nonresidential properties $28,857
    Nonfarm nonresidential secured by owner-occupied properties $28,857
    Commercial real estate & other non-farm, non-residential $0
    Multifamily residential real estate $1,643
    1-4 family residential loans $62,224
    Farmland loans $1,836
    Loans held in foreign offices $0
    Farm loans $74
    Commercial and industrial loans $13,427
    To non-U.S. addressees $0
    Loans to individuals $12,800
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $7,824
    Other loans to individuals $4,976
    All other loans & leases $716
    Loans to foreign governments and official institutions $0
    Other loans $100
    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 $326
    Non 1-4 family restructured loans & leases $326
    Total loans and leases (foreign) $0

    Farmers Bank had $126,144,000 of loans outstanding in 2019. $100,607,000 of loans were in real estate loans. $6,047,000 of loans were in development loans. $1,643,000 of loans were in multifamily mortgage loans. $62,224,000 of loans were in 1-4 family mortgage loans. $74,000 of loans were in farm loans. $0 of loans were in credit card loans. $7,824,000 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 165 $16,284 $98,691
    Nonfarm, nonresidential loans - <$100k 106 $2,517 $23,745
    Nonfarm, nonresidential loans - $100-250k 30 $3,269 $108,967
    Nonfarm, nonresidential loans - $250k-1MM 29 $10,498 $362,000
    Commercial & Industrial, US addressed loans - <$1MM 146 $9,967 $68,267
    Commercial & Industrial, US addressed loans - <$100k 110 $3,317 $30,155
    Commercial & Industrial, US addressed loans - $100-250k 22 $2,959 $134,500
    Commercial & Industrial, US addressed loans - $250k-1MM 14 $3,691 $263,643
    Farmland loans - <$1MM 26 $1,382 $53,154
    Farmland loans - <$100k 20 $567 $28,350
    Farmland loans - $100-250k 6 $815 $135,833
    Agriculture operations loans - <$1MM 3 $74 $24,667
    Agriculture operations loans - <$100k 1 $7 $7,000
    Agriculture operations loans - $100-250k 2 $67 $33,500