Farmers Bank Mortgage Rates, Fees & Info
Greenwood, ARLEI: 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
106Origination Dollar Volume (All Markets)
$16,040,000Employee count
64Top 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% |
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
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
2020 saw Farmers Bank place emphasis on $100,000 or less loans with 50 originations, totaling $3,040,000 in origination value.
Applicant Income
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
Approval Rates
Total approvals of all applications86.96%
Farmers Bank has an average approval rate.
Pick Rate
Approvals leading to origination86.79%
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
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 |