The Farmers Bank Of Willards Mortgage Rates, Fees & Info

Willards, MD

LEI: 5493005U6VKOSGHRA756

Tax ID: 52-0309468

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

    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 two markets are Salisbury and Cambridge .

    The Farmers Bank Of Willards 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.

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    Originations

    165

    Origination Dollar Volume (All Markets)

    $33,105,000

    Employee count

    80

    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) 164 $32,850,000 $200,305 $0 0.00%
    Cambridge, MD (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
    The Farmers Bank Of Willards's top markets include Salisbury and Cambridge among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 165 $33,105,000 $200,636 $0 0.00%

    For 2021, The Farmers Bank Of Willards's most frequently originated type of loan was Conventional, with 165 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 134 $26,570,000 $198,284 $0 0.00%
    Refi 25 $4,915,000 $196,600 $0 0.00%
    Home Improvement 5 $1,115,000 $223,000 $0 0.00%
    Other 1 $505,000 $505,000 $0 0.00%

    For 2021, The Farmers Bank Of Willards's most frequently cited loan purpose was Home Purchase, with 134 originations. The 2nd most popular reason was Refi, with 25 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 165 $33,105,000 $200,636 $0 0.00%

    For 2021, The Farmers Bank Of Willards's most frequently cited loan duration was Other, with 165 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 63 $9,015,000 $143,095 $0 0.00%
    $100,000 or less 44 $3,030,000 $68,864 $0 0.00%
    $200k-400k 44 $12,400,000 $281,818 $0 0.00%
    $400k-600k 10 $4,900,000 $490,000 $0 0.00%
    $1MM+ 2 $2,160,000 $1,080,000 $0 0.00%
    $600k-1MM 2 $1,600,000 $800,000 $0 0.00%

    2021 saw The Farmers Bank Of Willards place emphasis on $100k-200k loans with 63 originations, totaling $9,015,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 27 $6,815,000 $252,407 $0 0.00%
    $50k or less 24 $3,030,000 $126,250 $0 0.00%
    $50k-75k 20 $3,280,000 $164,000 $0 0.00%
    $75k-100k 17 $3,305,000 $194,412 $0 0.00%
    $100k-150k 16 $2,760,000 $172,500 $0 0.00%
    $250k+ 12 $5,660,000 $471,667 $0 0.00%

    The Farmers Bank Of Willards lent most frequently to those with incomes in the $150k-250k range, with 27 originations. The second most popular income band? $50k or less, with 24 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 165 $33,105,000 $200,636 $0 0.00%

    The Farmers Bank Of Willards lent most frequently to those with DTI ratios of Exempt%, with 165 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 115 $23,325,000 $202,826 $0 0.00%
    Not applicable 30 $5,200,000 $173,333 $0 0.00%
    Not provided 15 $4,075,000 $271,667 $0 0.00%
    Black 4 $350,000 $87,500 $0 0.00%
    American Indian 1 $155,000 $155,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    87.78%

    The Farmers Bank Of Willards has an average approval rate.

    Pick Rate

    Approvals leading to origination
    56.97%

    The Farmers Bank Of Willards has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 165 $33,105,000 $200,636

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    165 $33,105,000 $200,636

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    The Farmers Bank of Willards 102 Milford Street Salisbury, MD 21804 Full Service B&M $46,875
    The Farmers Bank of Willards 1150 Parsons Road Salisbury, MD 21801 Full Service B&M $42,231
    The Farmers Bank of Willards 12641 Ocean Gateway Ocean City, MD 21842 Full Service B&M $38,794
    The Farmers Bank of Willards 12831 Coastal Highway Ocean City, MD 21842 Full Service B&M $37,010
    The Farmers Bank of Willards 200 S. Philadelphia Ave. Ocean City, MD 21842 Full Service B&M $7,557
    The Farmers Bank of Willards 28656 W. Dupont Hwy. Millsboro, DE 19966 Limited, Drive-thru $34,293
    The Farmers Bank of Willards 7233 Main Street Willards, MD 21874 Full Service B&M $125,478
    The Farmers Bank of Willards 7484 Market Street Willards, MD 21874 Full Service B&M $0
    The Farmers Bank of Willards Tilghman Road Salisbury, MD 21801 Full Service B&M $79,636

    For 2021, The Farmers Bank Of Willards had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $17,888
    Net interest income $15,575
    Total noninterest income $1,715
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $301
    Trading account gains and fees $0
    Additional Noninterest Income $1,414
    Pre-tax net operating income $5,057
    Securities gains (or losses, -) $10
    Income before extraordinary items $3,755
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,755
    Minority interest net income $0
    Net income $3,755
    Sale, conversion, retirement of capital stock, net $-543
    Net operating income $3,747

    The Farmers Bank Of Willards's gross interest income from loans was $17,888,000.
    The Farmers Bank Of Willards's net interest income from loans was $15,575,000.
    The Farmers Bank Of Willards's fee based income from loans was $301,000.
    The Farmers Bank Of Willards's net income from loans was $3,755,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,313
    Provision for credit losses $-70
    Total noninterest expense $12,303
    Salaries and employee benefits $6,414
    Premises and equipment expense $1,188
    Additional noninterest expense $4,701
    Applicable income taxes $1,312
    Net charge-offs $180
    Cash dividends $1,493

    The Farmers Bank Of Willards's interest expense for loans was $2,313,000.
    The Farmers Bank Of Willards's payroll and benefits expense were $6,414,000.
    The Farmers Bank Of Willards's property, plant and equipment expenses $1,188,000.

    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 1.0%
    Credit card loans 0.0%
    Other individual loans 1.0%
    Auto loans 0.0%
    Other consumer loans 1.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $433,175
    Deposits held in domestic offices $433,175
    Deposits by Individuals, partnerships, and corporations $428,106
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $4,380
    Deposits by Commercial banks and other depository institutions in U.S. $689
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $188,216
    Demand deposits $152,778
    Nontransaction accounts $244,959
    Money market deposit accounts (MMDAs) $50,905
    Other savings deposits (excluding MMDAs) $74,965
    Total time deposits $119,089
    Total time and savings deposits $280,397
    Noninterest-bearing deposits $152,778
    Interest-bearing deposits $280,397
    Retail deposits $415,702
    IRAs and Keogh plan accounts $32,004
    Brokered deposits $1,003
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $498,280
    Cash & Balances due from depository institutions $84,032
    Interest-bearing balances $70,623
    Total securities $110,085
    Federal funds sold & reverse repurchase $0
    Net loans and leases $287,092
    Loan and leases loss allowance $2,926
    Trading account assets $0
    Bank premises and fixed assets $5,750
    Other real estate owned $2,895
    Goodwill and other intangibles $0
    All other assets $8,426

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $498,280
    Total Liabilities $452,596
    Total deposits $433,175
    Interest-bearing deposits $280,397
    Deposits held in domestic offices $433,175
    % insured (estimated) $85
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $15,000
    Subordinated debt $0
    All other liabilities $4,421

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $287,092
    Loan and leases loss allowance $2,926
    Total loans and leases (domestic) $290,018
    All real estate loans $249,973
    Real estate loans in domestic offices $249,973
    Construction and development loans $33,726
    Residential 1-4 family construction $13,163
    Other construction, all land development and other land $20,563
    Loans secured by nonfarm nonresidential properties $58,773
    Nonfarm nonresidential secured by owner-occupied properties $45,483
    Commercial real estate & other non-farm, non-residential $13,290
    Multifamily residential real estate $6,105
    1-4 family residential loans $138,864
    Farmland loans $12,505
    Loans held in foreign offices $0
    Farm loans $100
    Commercial and industrial loans $28,096
    To non-U.S. addressees $0
    Loans to individuals $9,731
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $2,143
    Other loans to individuals $7,588
    All other loans & leases $2,118
    Loans to foreign governments and official institutions $0
    Other loans $63
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $6
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $848
    Non 1-4 family restructured loans & leases $265
    Total loans and leases (foreign) $0

    The Farmers Bank of Willards had $287,092,000 of loans outstanding in 2021. $249,973,000 of loans were in real estate loans. $33,726,000 of loans were in development loans. $6,105,000 of loans were in multifamily mortgage loans. $138,864,000 of loans were in 1-4 family mortgage loans. $100,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,143,000 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 115 $24,132 $209,843
    Nonfarm, nonresidential loans - <$100k 19 $1,056 $55,579
    Nonfarm, nonresidential loans - $100-250k 49 $6,695 $136,633
    Nonfarm, nonresidential loans - $250k-1MM 47 $16,381 $348,532
    Commercial & Industrial, US addressed loans - <$1MM 404 $20,209 $50,022
    Commercial & Industrial, US addressed loans - <$100k 324 $7,487 $23,108
    Commercial & Industrial, US addressed loans - $100-250k 55 $5,711 $103,836
    Commercial & Industrial, US addressed loans - $250k-1MM 25 $7,011 $280,440
    Farmland loans - <$1MM 44 $5,989 $136,114
    Farmland loans - <$100k 11 $315 $28,636
    Farmland loans - $100-250k 23 $2,960 $128,696
    Farmland loans - $250k-1MM 10 $2,714 $271,400
    Agriculture operations loans - <$1MM 3 $100 $33,333
    Agriculture operations loans - <$100k 2 $70 $35,000
    Agriculture operations loans - $100-250k 1 $30 $30,000