Farmers State Bank Mortgage Rates, Fees & Info

Victor, MT

LEI: 5493007BVVG2E8KCTG95

Tax ID: 81-0133810

Latest/2024 | 2023 Data | 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 State Bank is a smaller bank specializing in Refi and Home Purchase loans. Farmers State Bank has a high proportion of conventional 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

    345

    Origination Dollar Volume (All Markets)

    $92,245,000

    Employee count

    130

    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 285 $70,635,000 $247,842 $0 0.00%
    MISSOULA, MT (FHA|USDA|VA) 60 $21,610,000 $360,167 $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 339 $90,635,000 $267,360 $0 0.00%
    VA 6 $1,610,000 $268,333 $0 0.00%

    For 2020, Farmers State Bank's most frequently originated type of loan was Conventional, with 339 originations. Their 2nd most popular type was VA, with 6 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 143 $39,675,000 $277,448 $0 0.00%
    Home Purchase 115 $34,725,000 $301,957 $0 0.00%
    Cash Out Refi 68 $16,390,000 $241,029 $0 0.00%
    Home Improvement 12 $870,000 $72,500 $0 0.00%
    Other 7 $585,000 $83,571 $0 0.00%

    For 2020, Farmers State Bank's most frequently cited loan purpose was Refi, with 143 originations. The 2nd most popular reason was Home Purchase, with 115 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 345 $92,245,000 $267,377 $0 0.00%

    For 2020, Farmers State Bank's most frequently cited loan duration was Other, with 345 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 165 $45,695,000 $276,939 $0 0.00%
    $100k-200k 107 $16,535,000 $154,533 $0 0.00%
    $400k-600k 37 $17,265,000 $466,622 $0 0.00%
    $100,000 or less 29 $1,595,000 $55,000 $0 0.00%
    $600k-1MM 5 $4,025,000 $805,000 $0 0.00%
    $1MM+ 2 $7,130,000 $3,565,000 $0 0.00%

    2020 saw Farmers State Bank place emphasis on $200k-400k loans with 165 originations, totaling $45,695,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 81 $15,785,000 $194,877 $0 0.00%
    $100k-150k 78 $22,230,000 $285,000 $0 0.00%
    $75k-100k 61 $14,565,000 $238,770 $0 0.00%
    $50k or less 45 $6,535,000 $145,222 $0 0.00%
    $150k-250k 33 $12,225,000 $370,455 $0 0.00%
    $250k+ 10 $4,200,000 $420,000 $0 0.00%

    Farmers State Bank lent most frequently to those with incomes in the $50k-75k range, with 81 originations. The second most popular income band? $100k-150k, with 78 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 345 $92,245,000 $267,377 $0 0.00%

    Farmers State Bank lent most frequently to those with DTI ratios of Exempt%, with 345 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 308 $73,520,000 $238,701 $0 0.00%
    Not applicable 14 $11,920,000 $851,429 $0 0.00%
    Not provided 17 $4,865,000 $286,176 $0 0.00%
    American Indian 5 $1,445,000 $289,000 $0 0.00%
    Native Hawaiian or Islander 1 $495,000 $495,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    90.32%

    Farmers State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.77%

    Farmers State Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 345 $92,245,000 $267,377

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 7 $9,685,000 $1,383,571
    Single Family (1-4 Units):Manufactured 5 $255,000 $51,000
    Single Family (1-4 Units):Site-Built 333 $82,305,000 $247,162

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Farmers State Bank 1040 Partridge Place Helena, MT 59602 Full Service B&M $11,620
    Farmers State Bank 103 Main Street Victor, MT 59875 Full Service B&M $101,003
    Farmers State Bank 11000 Us Highway 93 S Lolo, MT 59847 Full Service B&M $24,497
    Farmers State Bank 120 Hutton Ranch Road Kalispell, MT 59901 Full Service B&M $4,829
    Farmers State Bank 1950 North 1st Street Hamilton, MT 59840 Full Service B&M $111,958
    Farmers State Bank 3130 N Reserve Street Missoula, MT 59808 Full Service B&M $34,846
    Farmers State Bank 5501 Old Highway 93 North Florence, MT 59833 Full Service B&M $51,749
    Farmers State Bank 725 Main Street Stevensville, MT 59870 Full Service B&M $60,282
    Farmers State Bank 805 South Main Darby, MT 59829 Full Service B&M $42,164

    For 2020, Farmers State Bank had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $20,553
    Net interest income $19,225
    Total noninterest income $4,315
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $895
    Trading account gains and fees $0
    Additional Noninterest Income $3,420
    Pre-tax net operating income $5,657
    Securities gains (or losses, -) $163
    Income before extraordinary items $5,820
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,820
    Minority interest net income $0
    Net income $5,820
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $5,657

    Farmers State Bank's gross interest income from loans was $20,553,000.
    Farmers State Bank's net interest income from loans was $19,225,000.
    Farmers State Bank's fee based income from loans was $895,000.
    Farmers State Bank's net income from loans was $5,820,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,328
    Provision for credit losses $1,159
    Total noninterest expense $16,724
    Salaries and employee benefits $10,042
    Premises and equipment expense $1,609
    Additional noninterest expense $5,073
    Applicable income taxes $0
    Net charge-offs $1
    Cash dividends $2,885

    Farmers State Bank's interest expense for loans was $1,328,000.
    Farmers State Bank's payroll and benefits expense were $10,042,000.
    Farmers State Bank's property, plant and equipment expenses $1,609,000.

    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 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 $499,213
    Deposits held in domestic offices $499,213
    Deposits by Individuals, partnerships, and corporations $487,941
    Deposits by U.S. Government $4
    Deposits by States and political subdivisions in the U.S. $10,547
    Deposits by Commercial banks and other depository institutions in U.S. $721
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $28,823
    Demand deposits $2,234
    Nontransaction accounts $470,390
    Money market deposit accounts (MMDAs) $293,380
    Other savings deposits (excluding MMDAs) $119,218
    Total time deposits $57,792
    Total time and savings deposits $496,979
    Noninterest-bearing deposits $177,550
    Interest-bearing deposits $321,663
    Retail deposits $482,243
    IRAs and Keogh plan accounts $14,175
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $559,711
    Cash & Balances due from depository institutions $32,992
    Interest-bearing balances $25,658
    Total securities $159,473
    Federal funds sold & reverse repurchase $0
    Net loans and leases $332,440
    Loan and leases loss allowance $5,490
    Trading account assets $0
    Bank premises and fixed assets $19,773
    Other real estate owned $327
    Goodwill and other intangibles $0
    All other assets $14,706

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $559,711
    Total Liabilities $509,436
    Total deposits $499,213
    Interest-bearing deposits $321,663
    Deposits held in domestic offices $499,213
    % insured (estimated) $83
    Federal funds purchased and repurchase agreements $5,879
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $4,344

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $332,440
    Loan and leases loss allowance $5,490
    Total loans and leases (domestic) $337,930
    All real estate loans $280,566
    Real estate loans in domestic offices $280,566
    Construction and development loans $38,118
    Residential 1-4 family construction $16,491
    Other construction, all land development and other land $21,627
    Loans secured by nonfarm nonresidential properties $135,352
    Nonfarm nonresidential secured by owner-occupied properties $79,729
    Commercial real estate & other non-farm, non-residential $55,623
    Multifamily residential real estate $23,579
    1-4 family residential loans $69,246
    Farmland loans $14,271
    Loans held in foreign offices $0
    Farm loans $4,035
    Commercial and industrial loans $38,455
    To non-U.S. addressees $0
    Loans to individuals $11,731
    Credit card loans $0
    Related Plans $269
    Consumer Auto Loans $6,539
    Other loans to individuals $4,923
    All other loans & leases $3,143
    Loans to foreign governments and official institutions $0
    Other loans $2,090
    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 $164
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Farmers State Bank had $332,440,000 of loans outstanding in 2020. $280,566,000 of loans were in real estate loans. $38,118,000 of loans were in development loans. $23,579,000 of loans were in multifamily mortgage loans. $69,246,000 of loans were in 1-4 family mortgage loans. $4,035,000 of loans were in farm loans. $0 of loans were in credit card loans. $6,539,000 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 257 $68,266 $265,626
    Nonfarm, nonresidential loans - <$100k 37 $1,783 $48,189
    Nonfarm, nonresidential loans - $100-250k 73 $8,427 $115,438
    Nonfarm, nonresidential loans - $250k-1MM 147 $58,056 $394,939
    Commercial & Industrial, US addressed loans - <$1MM 942 $37,234 $39,527
    Commercial & Industrial, US addressed loans - <$100k 805 $16,624 $20,651
    Commercial & Industrial, US addressed loans - $100-250k 94 $9,945 $105,798
    Commercial & Industrial, US addressed loans - $250k-1MM 43 $10,665 $248,023
    Farmland loans - <$1MM 18 $3,222 $179,000
    Farmland loans - <$100k 6 $400 $66,667
    Farmland loans - $100-250k 4 $380 $95,000
    Farmland loans - $250k-1MM 8 $2,442 $305,250
    Agriculture operations loans - <$1MM 80 $2,862 $35,775
    Agriculture operations loans - <$100k 67 $1,145 $17,090
    Agriculture operations loans - $100-250k 11 $1,183 $107,545
    Agriculture operations loans - $250k-1MM 2 $534 $267,000