Farmers State Bank Mortgage Rates, Fees & Info

Victor, MT

LEI: 5493007BVVG2E8KCTG95

Tax ID: 81-0133810

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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 State Bank is a smaller bank specializing in Home Purchase and Refi loans. Farmers State Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top (well, only) market is Missoula.

    Farmers State Bank 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.

    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

    246

    Origination Dollar Volume (All Markets)

    $59,240,000

    Employee count

    126

    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
    Outside of Metro Areas 186 $39,010,000 $209,731 $0 0.00%
    MISSOULA, MT (FHA|USDA|VA) 60 $20,230,000 $337,167 $0 0.00%
    Farmers State Bank's top markets include and Missoula among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 232 $55,500,000 $239,224 $0 0.00%
    VA 10 $2,790,000 $279,000 $0 0.00%
    USDA 4 $950,000 $237,500 $0 0.00%

    For 2018, Farmers State Bank's most frequently originated type of loan was Conventional, with 232 originations. Their 2nd most popular type was VA, with 10 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 153 $40,955,000 $267,680 $0 0.00%
    Refi 48 $11,950,000 $248,958 $0 0.00%
    Cash Out Refi 22 $3,980,000 $180,909 $0 0.00%
    Other 15 $1,755,000 $117,000 $0 0.00%
    Home Improvement 8 $600,000 $75,000 $0 0.00%

    For 2018, Farmers State Bank's most frequently cited loan purpose was Home Purchase, with 153 originations. The 2nd most popular reason was Refi, with 48 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 246 $59,240,000 $240,813 $0 0.00%

    For 2018, Farmers State Bank's most frequently cited loan duration was Other, with 246 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 95 $25,795,000 $271,526 $0 0.00%
    $100k-200k 78 $11,790,000 $151,154 $0 0.00%
    $100,000 or less 42 $2,450,000 $58,333 $0 0.00%
    $400k-600k 26 $11,750,000 $451,923 $0 0.00%
    $600k-1MM 3 $2,125,000 $708,333 $0 0.00%
    $1MM+ 2 $5,330,000 $2,665,000 $0 0.00%

    2018 saw Farmers State Bank place emphasis on $200k-400k loans with 95 originations, totaling $25,795,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 55 $10,575,000 $192,273 $0 0.00%
    $50k or less 51 $6,545,000 $128,333 $0 0.00%
    $150k-250k 38 $11,760,000 $309,474 $0 0.00%
    $75k-100k 38 $8,760,000 $230,526 $0 0.00%
    $100k-150k 32 $7,190,000 $224,688 $0 0.00%
    $250k+ 10 $3,710,000 $371,000 $0 0.00%

    Farmers State Bank lent most frequently to those with incomes in the $50k-75k range, with 55 originations. The second most popular income band? $50k or less, with 51 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 246 $59,240,000 $240,813 $0 0.00%

    Farmers State Bank lent most frequently to those with DTI ratios of Exempt%, with 246 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 233 $50,085,000 $214,957 $0 0.00%
    Not applicable 10 $8,850,000 $885,000 $0 0.00%
    American Indian 1 $155,000 $155,000 $0 0.00%
    Not provided 2 $150,000 $75,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.31%

    Farmers State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.80%

    Farmers State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 246 $59,240,000 $240,813

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 7 $7,655,000 $1,093,571
    Single Family (1-4 Units):Manufactured 13 $1,685,000 $129,615
    Single Family (1-4 Units):Site-Built 226 $49,900,000 $220,796

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Farmers State Bank 3130 N Reserve Street Missoula, MT 59808 Full Service B&M $15,714
    Farmers State Bank 103 Main Street Victor, MT 59875 Full Service B&M $88,407
    Farmers State Bank 1040 Partridge Place Helena, MT 59602 Full Service B&M $1,360
    Farmers State Bank 11000 Us Highway 93 S Lolo, MT 59847 Full Service B&M $14,677
    Farmers State Bank 1950 North 1st Street Hamilton, MT 59840 Full Service B&M $90,047
    Farmers State Bank 5501 Old Highway 93 North Florence, MT 59833 Full Service B&M $46,398
    Farmers State Bank 725 Main Street Stevensville, MT 59870 Full Service B&M $45,715
    Farmers State Bank 805 South Main Darby, MT 59829 Full Service B&M $36,794

    For 2018, Farmers State Bank had 8 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $16,077
    Net interest income $15,418
    Total noninterest income $4,181
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,438
    Trading account gains and fees $0
    Additional Noninterest Income $2,743
    Pre-tax net operating income $2,571
    Securities gains (or losses, -) $7
    Income before extraordinary items $1,296
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,296
    Minority interest net income $0
    Net income $1,296
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,290

    Farmers State Bank's gross interest income from loans was $16,077,000.
    Farmers State Bank's net interest income from loans was $15,418,000.
    Farmers State Bank's fee based income from loans was $1,438,000.
    Farmers State Bank's net income from loans was $1,296,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $659
    Provision for credit losses $1,095
    Total noninterest expense $15,933
    Salaries and employee benefits $8,949
    Premises and equipment expense $1,509
    Additional noninterest expense $5,475
    Applicable income taxes $1,282
    Net charge-offs $233
    Cash dividends $2,485

    Farmers State Bank's interest expense for loans was $659,000.
    Farmers State Bank's payroll and benefits expense were $8,949,000.
    Farmers State Bank's property, plant and equipment expenses $1,509,000.

    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 0.0%
    Nonfarm, nonresidential loans 1.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    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 $338,507
    Deposits held in domestic offices $338,507
    Deposits by Individuals, partnerships, and corporations $334,332
    Deposits by U.S. Government $10
    Deposits by States and political subdivisions in the U.S. $3,901
    Deposits by Commercial banks and other depository institutions in U.S. $264
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $60,981
    Demand deposits $34,994
    Nontransaction accounts $277,526
    Money market deposit accounts (MMDAs) $123,089
    Other savings deposits (excluding MMDAs) $95,660
    Total time deposits $58,777
    Total time and savings deposits $303,513
    Noninterest-bearing deposits $98,694
    Interest-bearing deposits $239,813
    Retail deposits $328,240
    IRAs and Keogh plan accounts $12,660
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $395,609
    Cash & Balances due from depository institutions $6,051
    Interest-bearing balances $3
    Total securities $110,904
    Federal funds sold & reverse repurchase $0
    Net loans and leases $252,098
    Loan and leases loss allowance $3,872
    Trading account assets $0
    Bank premises and fixed assets $12,421
    Other real estate owned $750
    Goodwill and other intangibles $0
    All other assets $13,385

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $395,609
    Total Liabilities $356,710
    Total deposits $338,507
    Interest-bearing deposits $239,813
    Deposits held in domestic offices $338,507
    % insured (estimated) $91
    Federal funds purchased and repurchase agreements $4,079
    Trading liabilities $0
    Other borrowed funds $10,035
    Subordinated debt $0
    All other liabilities $4,089

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $252,098
    Loan and leases loss allowance $3,872
    Total loans and leases (domestic) $255,970
    All real estate loans $212,880
    Real estate loans in domestic offices $212,880
    Construction and development loans $29,612
    Residential 1-4 family construction $13,724
    Other construction, all land development and other land $15,888
    Loans secured by nonfarm nonresidential properties $106,294
    Nonfarm nonresidential secured by owner-occupied properties $72,347
    Commercial real estate & other non-farm, non-residential $33,947
    Multifamily residential real estate $16,535
    1-4 family residential loans $56,398
    Farmland loans $4,041
    Loans held in foreign offices $0
    Farm loans $4,777
    Commercial and industrial loans $21,468
    To non-U.S. addressees $0
    Loans to individuals $12,912
    Credit card loans $0
    Related Plans $273
    Consumer Auto Loans $7,723
    Other loans to individuals $4,916
    All other loans & leases $3,933
    Loans to foreign governments and official institutions $0
    Other loans $2,337
    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 $382
    Non 1-4 family restructured loans & leases $147
    Total loans and leases (foreign) $0

    Farmers State Bank had $252,098,000 of loans outstanding in 2018. $212,880,000 of loans were in real estate loans. $29,612,000 of loans were in development loans. $16,535,000 of loans were in multifamily mortgage loans. $56,398,000 of loans were in 1-4 family mortgage loans. $4,777,000 of loans were in farm loans. $0 of loans were in credit card loans. $7,723,000 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 238 $57,387 $241,122
    Nonfarm, nonresidential loans - <$100k 38 $1,590 $41,842
    Nonfarm, nonresidential loans - $100-250k 74 $9,110 $123,108
    Nonfarm, nonresidential loans - $250k-1MM 126 $46,687 $370,532
    Commercial & Industrial, US addressed loans - <$1MM 464 $20,937 $45,123
    Commercial & Industrial, US addressed loans - <$100k 380 $7,754 $20,405
    Commercial & Industrial, US addressed loans - $100-250k 52 $5,280 $101,538
    Commercial & Industrial, US addressed loans - $250k-1MM 32 $7,903 $246,969
    Farmland loans - <$1MM 14 $1,955 $139,643
    Farmland loans - <$100k 6 $254 $42,333
    Farmland loans - $100-250k 4 $405 $101,250
    Farmland loans - $250k-1MM 4 $1,296 $324,000
    Agriculture operations loans - <$1MM 76 $3,072 $40,421
    Agriculture operations loans - <$100k 59 $1,389 $23,542
    Agriculture operations loans - $100-250k 15 $1,532 $102,133
    Agriculture operations loans - $250k-1MM 2 $151 $75,500