The Farmers Bank Of Willards Mortgage Rates, Fees & Info

Willards, MD

LEI: 5493005U6VKOSGHRA756

Tax ID: 52-0309468

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Mortgage Data

Bank Data

Review & Overview

The Farmers Bank Of Willards is a smaller bank specializing in Home Purchase loans. The Farmers Bank Of Willards has a high proportion of conventional loans. Their top markets by origination volume include: Salisbury, Easton, and Washington among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

The Farmers Bank Of Willards 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.

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Originations

155

Origination Dollar Volume (All Markets)

$25,565,000

Employee count

83

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
SALISBURY, MD-DE (FHA|USDA|VA) 150 $24,660,000 $164,400 $0 0.00%
Outside of Metro Areas 3 $575,000 $191,667 $0 0.00%
Easton, MD (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
The Farmers Bank Of Willards's top markets include Salisbury, Easton, and Washington among others.

Their top states include:
  • Maryland (FHA|USDA|VA)
  • Delaware (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 155 $25,565,000 $164,935 $0 0.00%

    For 2018, The Farmers Bank Of Willards's most frequently originated type of loan was Conventional, with 155 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 113 $19,125,000 $169,248 $0 0.00%
    Refi 26 $4,920,000 $189,231 $0 0.00%
    Home Improvement 11 $1,145,000 $104,091 $0 0.00%
    Other 5 $375,000 $75,000 $0 0.00%

    For 2018, The Farmers Bank Of Willards's most frequently cited loan purpose was Home Purchase, with 113 originations. The 2nd most popular reason was Refi, with 26 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 155 $25,565,000 $164,935 $0 0.00%

    For 2018, The Farmers Bank Of Willards's most frequently cited loan duration was Other, with 155 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 60 $8,410,000 $140,167 $0 0.00%
    $100,000 or less 56 $3,750,000 $66,964 $0 0.00%
    $200k-400k 30 $7,630,000 $254,333 $0 0.00%
    $400k-600k 6 $2,880,000 $480,000 $0 0.00%
    $600k-1MM 2 $1,610,000 $805,000 $0 0.00%
    $1MM+ 1 $1,285,000 $1,285,000 $0 0.00%

    2018 saw The Farmers Bank Of Willards place emphasis on $100k-200k loans with 60 originations, totaling $8,410,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 22 $1,840,000 $83,636 $0 0.00%
    $50k-75k 21 $2,775,000 $132,143 $0 0.00%
    $100k-150k 15 $3,195,000 $213,000 $0 0.00%
    $150k-250k 15 $3,855,000 $257,000 $0 0.00%
    $75k-100k 15 $2,615,000 $174,333 $0 0.00%
    $250k+ 6 $1,070,000 $178,333 $0 0.00%

    The Farmers Bank Of Willards lent most frequently to those with incomes in the $50k or less range, with 22 originations. The second most popular income band? $50k-75k, with 21 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 155 $25,565,000 $164,935 $0 0.00%

    The Farmers Bank Of Willards lent most frequently to those with DTI ratios of Exempt%, with 155 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 92 $15,130,000 $164,457 $0 0.00%
    Not applicable 43 $8,185,000 $190,349 $0 0.00%
    Black 16 $1,640,000 $102,500 $0 0.00%
    Native Hawaiian or Islander 1 $205,000 $205,000 $0 0.00%
    Korean 1 $165,000 $165,000 $0 0.00%
    Other Pacific Islander 1 $125,000 $125,000 $0 0.00%
    Not provided 1 $115,000 $115,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.03%

    The Farmers Bank Of Willards has an average approval rate.

    Pick Rate

    Approvals leading to origination
    79.35%

    The Farmers Bank Of Willards has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 155 $25,565,000 $164,935

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $1,285,000 $1,285,000
    Multifamily:Site-Built 1 $105,000 $105,000
    Single Family (1-4 Units):Manufactured 29 $2,815,000 $97,069
    Single Family (1-4 Units):Site-Built 124 $21,360,000 $172,258

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    The Farmers Bank of Willards 1150 Parsons Road Salisbury, MD 21801 Full Service B&M $37,094
    The Farmers Bank of Willards 102 Milford Street Salisbury, MD 21804 Full Service B&M $31,611
    The Farmers Bank of Willards 12641 Ocean Gateway Ocean City, MD 21842 Full Service B&M $21,978
    The Farmers Bank of Willards 12831 Coastal Highway Ocean City, MD 21842 Full Service B&M $20,105
    The Farmers Bank of Willards 200 S. Philadelphia Ave. Ocean City, MD 21842 Full Service B&M $5,429
    The Farmers Bank of Willards 28656 W. Dupont Hwy. Millsboro, DE 19966 Limited, Drive-thru $11,644
    The Farmers Bank of Willards 7233 Main Street Willards, MD 21874 Full Service B&M $48,604
    The Farmers Bank of Willards 7484 Market Street Willards, MD 21874 Full Service B&M $65,912
    The Farmers Bank of Willards Tilghman Road Salisbury, MD 21801 Full Service B&M $62,254

    For 2018, The Farmers Bank Of Willards had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $18,186
    Net interest income $15,317
    Total noninterest income $1,088
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $327
    Trading account gains and fees $0
    Additional Noninterest Income $761
    Pre-tax net operating income $4,519
    Securities gains (or losses, -) $-1
    Income before extraordinary items $3,365
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,365
    Minority interest net income $0
    Net income $3,365
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,365

    The Farmers Bank Of Willards's gross interest income from loans was $18,186,000.
    The Farmers Bank Of Willards's net interest income from loans was $15,317,000.
    The Farmers Bank Of Willards's fee based income from loans was $327,000.
    The Farmers Bank Of Willards's net income from loans was $3,365,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,869
    Provision for credit losses $1,265
    Total noninterest expense $10,621
    Salaries and employee benefits $5,681
    Premises and equipment expense $959
    Additional noninterest expense $3,981
    Applicable income taxes $1,153
    Net charge-offs $2,088
    Cash dividends $1,315

    The Farmers Bank Of Willards's interest expense for loans was $2,869,000.
    The Farmers Bank Of Willards's payroll and benefits expense were $5,681,000.
    The Farmers Bank Of Willards's property, plant and equipment expenses $959,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 1.0%
    Nonfarm, nonresidential loans 3.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 1.0%
    Personal loans 0.0%
    Credit card loans 0.1%
    Other individual loans 0.0%
    Auto loans 2.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $300,165
    Deposits held in domestic offices $300,165
    Deposits by Individuals, partnerships, and corporations $296,409
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $2,920
    Deposits by Commercial banks and other depository institutions in U.S. $836
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $88,174
    Demand deposits $73,157
    Nontransaction accounts $211,991
    Money market deposit accounts (MMDAs) $31,667
    Other savings deposits (excluding MMDAs) $40,465
    Total time deposits $139,859
    Total time and savings deposits $227,008
    Noninterest-bearing deposits $73,157
    Interest-bearing deposits $227,008
    Retail deposits $274,724
    IRAs and Keogh plan accounts $35,683
    Brokered deposits $7,924
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $375,707
    Cash & Balances due from depository institutions $19,759
    Interest-bearing balances $11,048
    Total securities $11,538
    Federal funds sold & reverse repurchase $0
    Net loans and leases $326,492
    Loan and leases loss allowance $3,298
    Trading account assets $0
    Bank premises and fixed assets $6,686
    Other real estate owned $2,720
    Goodwill and other intangibles $0
    All other assets $8,512

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $375,707
    Total Liabilities $335,380
    Total deposits $300,165
    Interest-bearing deposits $227,008
    Deposits held in domestic offices $300,165
    % insured (estimated) $94
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $31,500
    Subordinated debt $0
    All other liabilities $3,715

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $326,492
    Loan and leases loss allowance $3,298
    Total loans and leases (domestic) $329,790
    All real estate loans $287,781
    Real estate loans in domestic offices $287,781
    Construction and development loans $34,314
    Residential 1-4 family construction $12,697
    Other construction, all land development and other land $21,617
    Loans secured by nonfarm nonresidential properties $78,502
    Nonfarm nonresidential secured by owner-occupied properties $58,109
    Commercial real estate & other non-farm, non-residential $20,393
    Multifamily residential real estate $7,531
    1-4 family residential loans $145,720
    Farmland loans $21,714
    Loans held in foreign offices $0
    Farm loans $171
    Commercial and industrial loans $30,921
    To non-U.S. addressees $0
    Loans to individuals $8,188
    Credit card loans $733
    Related Plans $0
    Consumer Auto Loans $1,282
    Other loans to individuals $6,173
    All other loans & leases $2,729
    Loans to foreign governments and official institutions $0
    Other loans $54
    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 $2,539
    Non 1-4 family restructured loans & leases $1,537
    Total loans and leases (foreign) $0

    The Farmers Bank of Willards had $326,492,000 of loans outstanding in 2018. $287,781,000 of loans were in real estate loans. $34,314,000 of loans were in development loans. $7,531,000 of loans were in multifamily mortgage loans. $145,720,000 of loans were in 1-4 family mortgage loans. $171,000 of loans were in farm loans. $733,000 of loans were in credit card loans. $1,282,000 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 127 $30,502 $240,173
    Nonfarm, nonresidential loans - <$100k 22 $1,130 $51,364
    Nonfarm, nonresidential loans - $100-250k 44 $6,206 $141,045
    Nonfarm, nonresidential loans - $250k-1MM 61 $23,166 $379,770
    Commercial & Industrial, US addressed loans - <$1MM 605 $22,812 $37,706
    Commercial & Industrial, US addressed loans - <$100k 507 $8,519 $16,803
    Commercial & Industrial, US addressed loans - $100-250k 68 $6,539 $96,162
    Commercial & Industrial, US addressed loans - $250k-1MM 30 $7,754 $258,467
    Farmland loans - <$1MM 54 $8,643 $160,056
    Farmland loans - <$100k 10 $389 $38,900
    Farmland loans - $100-250k 26 $3,045 $117,115
    Farmland loans - $250k-1MM 18 $5,209 $289,389
    Agriculture operations loans - <$1MM 14 $171 $12,214
    Agriculture operations loans - <$100k 13 $166 $12,769
    Agriculture operations loans - $100-250k 1 $5 $5,000