Farmers Bank Mortgage Rates, Fees & Info

Greenwood, AR

LEI: 5493003L2LYA333BZY52

Tax ID: 71-0054310

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Mortgage Data

Bank Data

Review & Overview

Farmers Bank is a smaller bank specializing in Home Purchase and Refi loans. Farmers Bank has a high proportion of conventional loans. Their top two markets are Fort Smith and Fayetteville .

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.

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Originations

106

Origination Dollar Volume (All Markets)

$16,040,000

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) 93 $14,455,000 $155,430 $0 0.00%
Outside of Metro Areas 12 $1,410,000 $117,500 $0 0.00%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
Farmers Bank's top markets include Fort Smith and Fayetteville among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 106 $16,040,000 $151,321 $0 0.00%

    For 2020, Farmers Bank's most frequently originated type of loan was Conventional, with 106 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 50 $8,050,000 $161,000 $0 0.00%
    Refi 47 $7,515,000 $159,894 $0 0.00%
    Home Improvement 8 $320,000 $40,000 $0 0.00%
    Other 1 $155,000 $155,000 $0 0.00%

    For 2020, Farmers Bank's most frequently cited loan purpose was Home Purchase, with 50 originations. The 2nd most popular reason was Refi, with 47 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 106 $16,040,000 $151,321 $0 0.00%

    For 2020, Farmers Bank's most frequently cited loan duration was Other, with 106 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 50 $3,040,000 $60,800 $0 0.00%
    $100k-200k 31 $4,725,000 $152,419 $0 0.00%
    $200k-400k 19 $5,335,000 $280,789 $0 0.00%
    $400k-600k 5 $2,255,000 $451,000 $0 0.00%
    $600k-1MM 1 $685,000 $685,000 $0 0.00%

    2020 saw Farmers Bank place emphasis on $100,000 or less loans with 50 originations, totaling $3,040,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 27 $4,725,000 $175,000 $0 0.00%
    $50k or less 18 $1,320,000 $73,333 $0 0.00%
    $50k-75k 16 $1,810,000 $113,125 $0 0.00%
    $150k-250k 15 $2,675,000 $178,333 $0 0.00%
    $75k-100k 10 $1,400,000 $140,000 $0 0.00%
    $250k+ 7 $2,005,000 $286,429 $0 0.00%

    Farmers Bank lent most frequently to those with incomes in the $100k-150k range, with 27 originations. The second most popular income band? $50k or less, with 18 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 106 $16,040,000 $151,321 $0 0.00%

    Farmers Bank lent most frequently to those with DTI ratios of Exempt%, with 106 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 91 $13,775,000 $151,374 $0 0.00%
    Not applicable 10 $1,770,000 $177,000 $0 0.00%
    American Indian 3 $255,000 $85,000 $0 0.00%
    Asian 1 $175,000 $175,000 $0 0.00%
    Not provided 1 $65,000 $65,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    86.96%

    Farmers Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.79%

    Farmers Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 106 $16,040,000 $151,321

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $1,185,000 $395,000
    Single Family (1-4 Units):Manufactured 10 $790,000 $79,000
    Single Family (1-4 Units):Site-Built 93 $14,065,000 $151,237

    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 $1,911
    Farmers Bank 120 Highway 71 Ne Huntington, AR 72940 Full Service B&M $861
    Farmers Bank 1308 West Center Geeenwood, AR 72936 Full Service B&M $9,047
    Farmers Bank 16 Huntington Avenue Mansfield, AR 72944 Full Service B&M $5,623
    Farmers Bank 200 Main Street Hackett, AR 72937 Full Service B&M $10,079
    Farmers Bank 227 Fort Street Barling, AR 72923 Full Service B&M $333
    Farmers Bank 25 S Broadway St Hartford, AR 72938 Full Service B&M $9,853
    Farmers Bank 501 West Main Street Lavaca, AR 72941 Full Service B&M $4,019
    Farmers Bank 71 West Center St Greenwood, AR 72936 Full Service B&M $130,122
    Farmers Bank 7820 Rogers Avenue Fort Smith, AR 72901 Full Service B&M $8,835
    Farmers Bank 8420 Highway 71 South Fort Smith, AR 72901 Full Service B&M $16,362

    For 2020, Farmers Bank had 11 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $9,091
    Net interest income $8,349
    Total noninterest income $2,267
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $866
    Trading account gains and fees $0
    Additional Noninterest Income $1,401
    Pre-tax net operating income $2,525
    Securities gains (or losses, -) $382
    Income before extraordinary items $2,284
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,284
    Minority interest net income $0
    Net income $2,284
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,982

    Farmers Bank's gross interest income from loans was $9,091,000.
    Farmers Bank's net interest income from loans was $8,349,000.
    Farmers Bank's fee based income from loans was $866,000.
    Farmers Bank's net income from loans was $2,284,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $742
    Provision for credit losses $120
    Total noninterest expense $7,971
    Salaries and employee benefits $3,752
    Premises and equipment expense $2,072
    Additional noninterest expense $2,147
    Applicable income taxes $623
    Net charge-offs $166
    Cash dividends $1,550

    Farmers Bank's interest expense for loans was $742,000.
    Farmers Bank's payroll and benefits expense were $3,752,000.
    Farmers Bank's property, plant and equipment expenses $2,072,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    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 $201,504
    Deposits held in domestic offices $201,504
    Deposits by Individuals, partnerships, and corporations $164,612
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $36,892
    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 $115,241
    Demand deposits $53,775
    Nontransaction accounts $86,263
    Money market deposit accounts (MMDAs) $16,129
    Other savings deposits (excluding MMDAs) $29,698
    Total time deposits $40,436
    Total time and savings deposits $147,729
    Noninterest-bearing deposits $53,775
    Interest-bearing deposits $147,729
    Retail deposits $194,821
    IRAs and Keogh plan accounts $8,905
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $243,523
    Cash & Balances due from depository institutions $7,644
    Interest-bearing balances $0
    Total securities $67,631
    Federal funds sold & reverse repurchase $12,375
    Net loans and leases $134,470
    Loan and leases loss allowance $1,430
    Trading account assets $0
    Bank premises and fixed assets $12,118
    Other real estate owned $205
    Goodwill and other intangibles $1,637
    All other assets $7,443

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $243,523
    Total Liabilities $202,072
    Total deposits $201,504
    Interest-bearing deposits $147,729
    Deposits held in domestic offices $201,504
    % insured (estimated) $81
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $568

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $134,470
    Loan and leases loss allowance $1,430
    Total loans and leases (domestic) $135,900
    All real estate loans $105,914
    Real estate loans in domestic offices $105,914
    Construction and development loans $2,116
    Residential 1-4 family construction $2,116
    Other construction, all land development and other land $0
    Loans secured by nonfarm nonresidential properties $35,364
    Nonfarm nonresidential secured by owner-occupied properties $35,364
    Commercial real estate & other non-farm, non-residential $0
    Multifamily residential real estate $2,176
    1-4 family residential loans $62,960
    Farmland loans $3,298
    Loans held in foreign offices $0
    Farm loans $22
    Commercial and industrial loans $16,785
    To non-U.S. addressees $0
    Loans to individuals $12,737
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $7,289
    Other loans to individuals $5,448
    All other loans & leases $444
    Loans to foreign governments and official institutions $0
    Other loans $37
    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 $346
    Non 1-4 family restructured loans & leases $346
    Total loans and leases (foreign) $0

    Farmers Bank had $134,470,000 of loans outstanding in 2020. $105,914,000 of loans were in real estate loans. $2,116,000 of loans were in development loans. $2,176,000 of loans were in multifamily mortgage loans. $62,960,000 of loans were in 1-4 family mortgage loans. $22,000 of loans were in farm loans. $0 of loans were in credit card loans. $7,289,000 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 129 $16,468 $127,659
    Nonfarm, nonresidential loans - <$100k 66 $2,481 $37,591
    Nonfarm, nonresidential loans - $100-250k 33 $4,010 $121,515
    Nonfarm, nonresidential loans - $250k-1MM 30 $9,977 $332,567
    Commercial & Industrial, US addressed loans - <$1MM 318 $15,148 $47,635
    Commercial & Industrial, US addressed loans - <$100k 265 $6,179 $23,317
    Commercial & Industrial, US addressed loans - $100-250k 39 $4,825 $123,718
    Commercial & Industrial, US addressed loans - $250k-1MM 14 $4,144 $296,000
    Farmland loans - <$1MM 30 $2,373 $79,100
    Farmland loans - <$100k 19 $735 $38,684
    Farmland loans - $100-250k 9 $947 $105,222
    Farmland loans - $250k-1MM 2 $691 $345,500
    Agriculture operations loans - <$1MM 3 $22 $7,333
    Agriculture operations loans - <$100k 3 $22 $7,333