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 an above 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

    270

    Origination Dollar Volume (All Markets)

    $66,300,000

    Employee count

    127

    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 210 $51,760,000 $246,476 $0 0.00%
    MISSOULA, MT (FHA|USDA|VA) 60 $14,540,000 $242,333 $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 254 $60,910,000 $239,803 $0 0.00%
    VA 14 $4,840,000 $345,714 $0 0.00%
    USDA 2 $550,000 $275,000 $0 0.00%

    For 2019, Farmers State Bank's most frequently originated type of loan was Conventional, with 254 originations. Their 2nd most popular type was VA, with 14 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 149 $41,345,000 $277,483 $0 0.00%
    Refi 65 $14,585,000 $224,385 $0 0.00%
    Cash Out Refi 32 $8,400,000 $262,500 $0 0.00%
    Other 18 $1,650,000 $91,667 $0 0.00%
    Home Improvement 6 $320,000 $53,333 $0 0.00%

    For 2019, Farmers State Bank's most frequently cited loan purpose was Home Purchase, with 149 originations. The 2nd most popular reason was Refi, with 65 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 270 $66,300,000 $245,556 $0 0.00%

    For 2019, Farmers State Bank's most frequently cited loan duration was Other, with 270 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 135 $37,715,000 $279,370 $0 0.00%
    $100k-200k 74 $11,510,000 $155,541 $0 0.00%
    $100,000 or less 37 $2,385,000 $64,459 $0 0.00%
    $400k-600k 17 $7,955,000 $467,941 $0 0.00%
    $600k-1MM 6 $4,720,000 $786,667 $0 0.00%
    $1MM+ 1 $2,015,000 $2,015,000 $0 0.00%

    2019 saw Farmers State Bank place emphasis on $200k-400k loans with 135 originations, totaling $37,715,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 73 $14,905,000 $204,178 $0 0.00%
    $75k-100k 55 $12,935,000 $235,182 $0 0.00%
    $100k-150k 44 $11,880,000 $270,000 $0 0.00%
    $50k or less 35 $4,525,000 $129,286 $0 0.00%
    $150k-250k 28 $9,180,000 $327,857 $0 0.00%
    $250k+ 7 $2,995,000 $427,857 $0 0.00%

    Farmers State Bank lent most frequently to those with incomes in the $50k-75k range, with 73 originations. The second most popular income band? $75k-100k, with 55 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 270 $66,300,000 $245,556 $0 0.00%

    Farmers State Bank lent most frequently to those with DTI ratios of Exempt%, with 270 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 253 $58,655,000 $231,838 $0 0.00%
    Not applicable 11 $6,385,000 $580,455 $0 0.00%
    American Indian 2 $620,000 $310,000 $0 0.00%
    Asian 2 $410,000 $205,000 $0 0.00%
    Not provided 2 $230,000 $115,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    94.27%

    Farmers State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    90.37%

    Farmers State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 270 $66,300,000 $245,556

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $1,460,000 $730,000
    Single Family (1-4 Units):Manufactured 8 $730,000 $91,250
    Single Family (1-4 Units):Site-Built 260 $64,110,000 $246,577

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Farmers State Bank 5501 Old Highway 93 North Florence, MT 59833 Full Service B&M $45,159
    Farmers State Bank 103 Main Street Victor, MT 59875 Full Service B&M $85,696
    Farmers State Bank 1040 Partridge Place Helena, MT 59602 Full Service B&M $6,178
    Farmers State Bank 11000 Us Highway 93 S Lolo, MT 59847 Full Service B&M $18,757
    Farmers State Bank 120 Hutton Ranch Road Kalispell, MT 59901 Full Service B&M $2,996
    Farmers State Bank 1950 North 1st Street Hamilton, MT 59840 Full Service B&M $92,903
    Farmers State Bank 3130 N Reserve Street Missoula, MT 59808 Full Service B&M $23,204
    Farmers State Bank 725 Main Street Stevensville, MT 59870 Full Service B&M $51,273
    Farmers State Bank 805 South Main Darby, MT 59829 Full Service B&M $36,782

    For 2019, Farmers State Bank had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $18,304
    Net interest income $16,886
    Total noninterest income $4,206
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,392
    Trading account gains and fees $0
    Additional Noninterest Income $2,814
    Pre-tax net operating income $4,904
    Securities gains (or losses, -) $6
    Income before extraordinary items $4,910
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,910
    Minority interest net income $0
    Net income $4,910
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,904

    Farmers State Bank's gross interest income from loans was $18,304,000.
    Farmers State Bank's net interest income from loans was $16,886,000.
    Farmers State Bank's fee based income from loans was $1,392,000.
    Farmers State Bank's net income from loans was $4,910,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,418
    Provision for credit losses $540
    Total noninterest expense $15,648
    Salaries and employee benefits $9,245
    Premises and equipment expense $1,629
    Additional noninterest expense $4,774
    Applicable income taxes $0
    Net charge-offs $80
    Cash dividends $1,308

    Farmers State Bank's interest expense for loans was $1,418,000.
    Farmers State Bank's payroll and benefits expense were $9,245,000.
    Farmers State Bank's property, plant and equipment expenses $1,629,000.

    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 1.0%
    Commercial & industrial loans 1.0%
    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 $382,925
    Deposits held in domestic offices $382,925
    Deposits by Individuals, partnerships, and corporations $373,230
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $8,949
    Deposits by Commercial banks and other depository institutions in U.S. $746
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $22,836
    Demand deposits $2,528
    Nontransaction accounts $360,089
    Money market deposit accounts (MMDAs) $194,138
    Other savings deposits (excluding MMDAs) $94,766
    Total time deposits $71,185
    Total time and savings deposits $380,397
    Noninterest-bearing deposits $115,642
    Interest-bearing deposits $267,283
    Retail deposits $362,305
    IRAs and Keogh plan accounts $12,706
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $436,481
    Cash & Balances due from depository institutions $18,058
    Interest-bearing balances $12,607
    Total securities $104,988
    Federal funds sold & reverse repurchase $0
    Net loans and leases $285,236
    Loan and leases loss allowance $4,331
    Trading account assets $0
    Bank premises and fixed assets $13,852
    Other real estate owned $469
    Goodwill and other intangibles $0
    All other assets $13,878

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $436,481
    Total Liabilities $391,829
    Total deposits $382,925
    Interest-bearing deposits $267,283
    Deposits held in domestic offices $382,925
    % insured (estimated) $88
    Federal funds purchased and repurchase agreements $5,093
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $3,811

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $285,236
    Loan and leases loss allowance $4,331
    Total loans and leases (domestic) $289,567
    All real estate loans $246,195
    Real estate loans in domestic offices $246,195
    Construction and development loans $32,693
    Residential 1-4 family construction $17,537
    Other construction, all land development and other land $15,156
    Loans secured by nonfarm nonresidential properties $110,486
    Nonfarm nonresidential secured by owner-occupied properties $71,642
    Commercial real estate & other non-farm, non-residential $38,844
    Multifamily residential real estate $23,604
    1-4 family residential loans $71,523
    Farmland loans $7,889
    Loans held in foreign offices $0
    Farm loans $3,575
    Commercial and industrial loans $23,427
    To non-U.S. addressees $0
    Loans to individuals $13,113
    Credit card loans $0
    Related Plans $278
    Consumer Auto Loans $7,531
    Other loans to individuals $5,304
    All other loans & leases $3,257
    Loans to foreign governments and official institutions $0
    Other loans $2,204
    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 $334
    Non 1-4 family restructured loans & leases $334
    Total loans and leases (foreign) $0

    Farmers State Bank had $285,236,000 of loans outstanding in 2019. $246,195,000 of loans were in real estate loans. $32,693,000 of loans were in development loans. $23,604,000 of loans were in multifamily mortgage loans. $71,523,000 of loans were in 1-4 family mortgage loans. $3,575,000 of loans were in farm loans. $0 of loans were in credit card loans. $7,531,000 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 239 $59,115 $247,343
    Nonfarm, nonresidential loans - <$100k 39 $1,632 $41,846
    Nonfarm, nonresidential loans - $100-250k 70 $8,982 $128,314
    Nonfarm, nonresidential loans - $250k-1MM 130 $48,501 $373,085
    Commercial & Industrial, US addressed loans - <$1MM 555 $23,342 $42,058
    Commercial & Industrial, US addressed loans - <$100k 457 $8,378 $18,333
    Commercial & Industrial, US addressed loans - $100-250k 64 $6,293 $98,328
    Commercial & Industrial, US addressed loans - $250k-1MM 34 $8,671 $255,029
    Farmland loans - <$1MM 15 $2,008 $133,867
    Farmland loans - <$100k 6 $242 $40,333
    Farmland loans - $100-250k 5 $674 $134,800
    Farmland loans - $250k-1MM 4 $1,092 $273,000
    Agriculture operations loans - <$1MM 80 $3,008 $37,600
    Agriculture operations loans - <$100k 66 $1,229 $18,621
    Agriculture operations loans - $100-250k 12 $1,245 $103,750
    Agriculture operations loans - $250k-1MM 2 $534 $267,000