Farmers Bank Mortgage Rates, Fees & Info

Greenwood, AR

LEI: 5493003L2LYA333BZY52

Tax ID: 71-0054310

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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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 and Refi loans. Farmers Bank has a high proportion of conventional loans. Their top markets by origination volume include: Fort Smith, Fayetteville, Springfield, and Magnolia 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

    143

    Origination Dollar Volume (All Markets)

    $20,275,000

    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) 125 $17,385,000 $139,080 $0 0.00%
    Outside of Metro Areas 13 $1,905,000 $146,538 $0 0.00%
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 3 $735,000 $245,000 $0 0.00%
    SPRINGFIELD, MO (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
    Magnolia, AR (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
    Farmers Bank's top markets include Fort Smith, Fayetteville, Springfield, and Magnolia 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 143 $20,275,000 $141,783 $0 0.00%

    For 2021, Farmers Bank's most frequently originated type of loan was Conventional, with 143 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 83 $11,925,000 $143,675 $0 0.00%
    Refi 45 $7,135,000 $158,556 $0 0.00%
    Other 8 $890,000 $111,250 $0 0.00%
    Home Improvement 7 $325,000 $46,429 $0 0.00%

    For 2021, Farmers Bank's most frequently cited loan purpose was Home Purchase, with 83 originations. The 2nd most popular reason was Refi, with 45 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 143 $20,275,000 $141,783 $0 0.00%

    For 2021, Farmers Bank's most frequently cited loan duration was Other, with 143 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 60 $3,650,000 $60,833 $0 0.00%
    $100k-200k 54 $7,640,000 $141,481 $0 0.00%
    $200k-400k 23 $5,975,000 $259,783 $0 0.00%
    $400k-600k 6 $3,010,000 $501,667 $0 0.00%

    2021 saw Farmers Bank place emphasis on $100,000 or less loans with 60 originations, totaling $3,650,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 27 $4,475,000 $165,741 $0 0.00%
    $50k or less 27 $1,995,000 $73,889 $0 0.00%
    $50k-75k 24 $2,660,000 $110,833 $0 0.00%
    $75k-100k 20 $2,510,000 $125,500 $0 0.00%
    $150k-250k 19 $3,575,000 $188,158 $0 0.00%
    $250k+ 6 $1,590,000 $265,000 $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 27 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 143 $20,275,000 $141,783 $0 0.00%

    Farmers Bank lent most frequently to those with DTI ratios of Exempt%, with 143 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 125 $17,795,000 $142,360 $0 0.00%
    Not applicable 14 $2,130,000 $152,143 $0 0.00%
    Not provided 3 $215,000 $71,667 $0 0.00%
    American Indian 1 $135,000 $135,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    80.49%

    Farmers Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    84.62%

    Farmers Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 143 $20,275,000 $141,783

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    143 $20,275,000 $141,783

    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 $2,131
    Farmers Bank 120 Highway 71 Ne Huntington, AR 72940 Full Service B&M $907
    Farmers Bank 1308 West Center Geeenwood, AR 72936 Full Service B&M $9,549
    Farmers Bank 16 Huntington Avenue Mansfield, AR 72944 Full Service B&M $5,961
    Farmers Bank 200 Main Street Hackett, AR 72937 Full Service B&M $10,784
    Farmers Bank 227 Fort Street Barling, AR 72923 Full Service B&M $351
    Farmers Bank 25 S Broadway St Hartford, AR 72938 Full Service B&M $10,473
    Farmers Bank 501 West Main Street Lavaca, AR 72941 Full Service B&M $4,361
    Farmers Bank 71 West Center St Greenwood, AR 72936 Full Service B&M $147,927
    Farmers Bank 7820 Rogers Avenue Fort Smith, AR 72901 Full Service B&M $9,365
    Farmers Bank 8420 Highway 71 South Fort Smith, AR 72901 Full Service B&M $17,374

    For 2021, Farmers Bank had 11 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $9,099
    Net interest income $8,669
    Total noninterest income $2,608
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $902
    Trading account gains and fees $0
    Additional Noninterest Income $1,706
    Pre-tax net operating income $3,154
    Securities gains (or losses, -) $0
    Income before extraordinary items $2,480
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,480
    Minority interest net income $0
    Net income $2,480
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,480

    Farmers Bank's gross interest income from loans was $9,099,000.
    Farmers Bank's net interest income from loans was $8,669,000.
    Farmers Bank's fee based income from loans was $902,000.
    Farmers Bank's net income from loans was $2,480,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $430
    Provision for credit losses $32
    Total noninterest expense $8,091
    Salaries and employee benefits $3,742
    Premises and equipment expense $2,042
    Additional noninterest expense $2,307
    Applicable income taxes $674
    Net charge-offs $68
    Cash dividends $1,300

    Farmers Bank's interest expense for loans was $430,000.
    Farmers Bank's payroll and benefits expense were $3,742,000.
    Farmers Bank's property, plant and equipment expenses $2,042,000.

    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 $224,228
    Deposits held in domestic offices $224,228
    Deposits by Individuals, partnerships, and corporations $182,728
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $41,500
    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 $132,473
    Demand deposits $61,798
    Nontransaction accounts $91,755
    Money market deposit accounts (MMDAs) $17,607
    Other savings deposits (excluding MMDAs) $37,533
    Total time deposits $36,615
    Total time and savings deposits $162,430
    Noninterest-bearing deposits $61,798
    Interest-bearing deposits $162,430
    Retail deposits $218,140
    IRAs and Keogh plan accounts $7,830
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $266,414
    Cash & Balances due from depository institutions $5,443
    Interest-bearing balances $0
    Total securities $99,462
    Federal funds sold & reverse repurchase $2,050
    Net loans and leases $138,103
    Loan and leases loss allowance $1,394
    Trading account assets $0
    Bank premises and fixed assets $11,512
    Other real estate owned $0
    Goodwill and other intangibles $1,637
    All other assets $8,207

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $266,414
    Total Liabilities $224,932
    Total deposits $224,228
    Interest-bearing deposits $162,430
    Deposits held in domestic offices $224,228
    % insured (estimated) $81
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $704

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $138,103
    Loan and leases loss allowance $1,394
    Total loans and leases (domestic) $139,497
    All real estate loans $111,151
    Real estate loans in domestic offices $111,151
    Construction and development loans $3,575
    Residential 1-4 family construction $3,575
    Other construction, all land development and other land $0
    Loans secured by nonfarm nonresidential properties $34,720
    Nonfarm nonresidential secured by owner-occupied properties $34,720
    Commercial real estate & other non-farm, non-residential $0
    Multifamily residential real estate $2,128
    1-4 family residential loans $67,279
    Farmland loans $3,449
    Loans held in foreign offices $0
    Farm loans $43
    Commercial and industrial loans $14,605
    To non-U.S. addressees $0
    Loans to individuals $12,684
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $7,882
    Other loans to individuals $4,802
    All other loans & leases $1,015
    Loans to foreign governments and official institutions $0
    Other loans $81
    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 $274
    Non 1-4 family restructured loans & leases $274
    Total loans and leases (foreign) $0

    Farmers Bank had $138,103,000 of loans outstanding in 2021. $111,151,000 of loans were in real estate loans. $3,575,000 of loans were in development loans. $2,128,000 of loans were in multifamily mortgage loans. $67,279,000 of loans were in 1-4 family mortgage loans. $43,000 of loans were in farm loans. $0 of loans were in credit card loans. $7,882,000 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 128 $18,488 $144,438
    Nonfarm, nonresidential loans - <$100k 51 $2,102 $41,216
    Nonfarm, nonresidential loans - $100-250k 42 $4,805 $114,405
    Nonfarm, nonresidential loans - $250k-1MM 35 $11,581 $330,886
    Commercial & Industrial, US addressed loans - <$1MM 243 $11,936 $49,119
    Commercial & Industrial, US addressed loans - <$100k 198 $5,207 $26,298
    Commercial & Industrial, US addressed loans - $100-250k 33 $3,809 $115,424
    Commercial & Industrial, US addressed loans - $250k-1MM 12 $2,920 $243,333
    Farmland loans - <$1MM 24 $2,524 $105,167
    Farmland loans - <$100k 12 $415 $34,583
    Farmland loans - $100-250k 10 $1,284 $128,400
    Farmland loans - $250k-1MM 2 $825 $412,500
    Agriculture operations loans - <$1MM 1 $43 $43,000
    Agriculture operations loans - <$100k 1 $43 $43,000