Farmers State Bank Mortgage Rates, Fees & Info

Victor, MT

LEI: 5493007BVVG2E8KCTG95

Tax ID: 81-0133810

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

    Farmers State Bank is a smaller bank specializing in Home Purchase and Refi 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

    310

    Origination Dollar Volume (All Markets)

    $91,220,000

    Employee count

    137

    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 269 $80,055,000 $297,602 $0 0.00%
    MISSOULA, MT (FHA|USDA|VA) 41 $11,165,000 $272,317 $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 303 $88,825,000 $293,152 $0 0.00%
    VA 7 $2,395,000 $342,143 $0 0.00%

    For 2021, Farmers State Bank's most frequently originated type of loan was Conventional, with 303 originations. Their 2nd most popular type was VA, with 7 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 139 $49,865,000 $358,741 $0 0.00%
    Refi 88 $21,330,000 $242,386 $0 0.00%
    Cash Out Refi 70 $18,180,000 $259,714 $0 0.00%
    Home Improvement 10 $1,520,000 $152,000 $0 0.00%
    Other 3 $325,000 $108,333 $0 0.00%

    For 2021, Farmers State Bank's most frequently cited loan purpose was Home Purchase, with 139 originations. The 2nd most popular reason was Refi, with 88 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 310 $91,220,000 $294,258 $0 0.00%

    For 2021, Farmers State Bank's most frequently cited loan duration was Other, with 310 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 153 $44,805,000 $292,843 $0 0.00%
    $100k-200k 75 $11,315,000 $150,867 $0 0.00%
    $400k-600k 46 $22,370,000 $486,304 $0 0.00%
    $100,000 or less 27 $1,695,000 $62,778 $0 0.00%
    $1MM+ 5 $7,645,000 $1,529,000 $0 0.00%
    $600k-1MM 4 $3,390,000 $847,500 $0 0.00%

    2021 saw Farmers State Bank place emphasis on $200k-400k loans with 153 originations, totaling $44,805,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 70 $19,320,000 $276,000 $0 0.00%
    $75k-100k 49 $14,885,000 $303,776 $0 0.00%
    $50k-75k 48 $10,150,000 $211,458 $0 0.00%
    $50k or less 48 $7,120,000 $148,333 $0 0.00%
    $150k-250k 34 $12,400,000 $364,706 $0 0.00%
    $250k+ 14 $5,470,000 $390,714 $0 0.00%

    Farmers State Bank lent most frequently to those with incomes in the $100k-150k range, with 70 originations. The second most popular income band? $75k-100k, with 49 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 310 $91,220,000 $294,258 $0 0.00%

    Farmers State Bank lent most frequently to those with DTI ratios of Exempt%, with 310 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 256 $68,670,000 $268,242 $0 0.00%
    Not applicable 25 $15,645,000 $625,800 $0 0.00%
    Not provided 23 $5,905,000 $256,739 $0 0.00%
    American Indian 5 $865,000 $173,000 $0 0.00%
    Black 1 $135,000 $135,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    91.14%

    Farmers State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.87%

    Farmers State Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 310 $91,220,000 $294,258

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    310 $91,220,000 $294,258

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Farmers State Bank 103 Main Street Victor, MT 59875 Full Service B&M $120,101
    Farmers State Bank 1040 Partridge Place Helena, MT 59602 Full Service B&M $6,282
    Farmers State Bank 11000 Us Highway 93 S Lolo, MT 59847 Full Service B&M $24,998
    Farmers State Bank 120 Hutton Ranch Road Kalispell, MT 59901 Full Service B&M $19,552
    Farmers State Bank 1950 North 1st Street Hamilton, MT 59840 Full Service B&M $136,667
    Farmers State Bank 3130 N Reserve Street Missoula, MT 59808 Full Service B&M $37,926
    Farmers State Bank 5501 Old Highway 93 North Florence, MT 59833 Full Service B&M $65,382
    Farmers State Bank 725 Main Street Stevensville, MT 59870 Full Service B&M $85,958
    Farmers State Bank 805 South Main Darby, MT 59829 Full Service B&M $50,842

    For 2021, Farmers State Bank had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $21,147
    Net interest income $20,568
    Total noninterest income $5,510
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $838
    Trading account gains and fees $0
    Additional Noninterest Income $4,672
    Pre-tax net operating income $8,229
    Securities gains (or losses, -) $687
    Income before extraordinary items $8,916
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $8,916
    Minority interest net income $0
    Net income $8,916
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $8,229

    Farmers State Bank's gross interest income from loans was $21,147,000.
    Farmers State Bank's net interest income from loans was $20,568,000.
    Farmers State Bank's fee based income from loans was $838,000.
    Farmers State Bank's net income from loans was $8,916,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $579
    Provision for credit losses $9
    Total noninterest expense $17,840
    Salaries and employee benefits $10,730
    Premises and equipment expense $1,924
    Additional noninterest expense $5,186
    Applicable income taxes $0
    Net charge-offs $-347
    Cash dividends $2,555

    Farmers State Bank's interest expense for loans was $579,000.
    Farmers State Bank's payroll and benefits expense were $10,730,000.
    Farmers State Bank's property, plant and equipment expenses $1,924,000.

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

    Deposits

    Type Value (in 000's)
    Total deposits $573,534
    Deposits held in domestic offices $573,534
    Deposits by Individuals, partnerships, and corporations $560,477
    Deposits by U.S. Government $3
    Deposits by States and political subdivisions in the U.S. $12,410
    Deposits by Commercial banks and other depository institutions in U.S. $644
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $301,706
    Demand deposits $208,952
    Nontransaction accounts $271,828
    Money market deposit accounts (MMDAs) $82,063
    Other savings deposits (excluding MMDAs) $140,942
    Total time deposits $48,823
    Total time and savings deposits $364,582
    Noninterest-bearing deposits $208,952
    Interest-bearing deposits $364,582
    Retail deposits $558,225
    IRAs and Keogh plan accounts $14,690
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $643,132
    Cash & Balances due from depository institutions $27,578
    Interest-bearing balances $24,247
    Total securities $238,730
    Federal funds sold & reverse repurchase $0
    Net loans and leases $338,307
    Loan and leases loss allowance $5,846
    Trading account assets $0
    Bank premises and fixed assets $21,405
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $17,112

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $643,132
    Total Liabilities $583,443
    Total deposits $573,534
    Interest-bearing deposits $364,582
    Deposits held in domestic offices $573,534
    % insured (estimated) $83
    Federal funds purchased and repurchase agreements $6,085
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $3,824

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $338,307
    Loan and leases loss allowance $5,846
    Total loans and leases (domestic) $344,153
    All real estate loans $296,033
    Real estate loans in domestic offices $296,033
    Construction and development loans $41,053
    Residential 1-4 family construction $11,181
    Other construction, all land development and other land $29,872
    Loans secured by nonfarm nonresidential properties $150,680
    Nonfarm nonresidential secured by owner-occupied properties $85,472
    Commercial real estate & other non-farm, non-residential $65,208
    Multifamily residential real estate $16,457
    1-4 family residential loans $70,384
    Farmland loans $17,459
    Loans held in foreign offices $0
    Farm loans $3,702
    Commercial and industrial loans $29,152
    To non-U.S. addressees $0
    Loans to individuals $12,113
    Credit card loans $0
    Related Plans $251
    Consumer Auto Loans $6,514
    Other loans to individuals $5,348
    All other loans & leases $3,153
    Loans to foreign governments and official institutions $0
    Other loans $2,087
    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 $160
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Farmers State Bank had $338,307,000 of loans outstanding in 2021. $296,033,000 of loans were in real estate loans. $41,053,000 of loans were in development loans. $16,457,000 of loans were in multifamily mortgage loans. $70,384,000 of loans were in 1-4 family mortgage loans. $3,702,000 of loans were in farm loans. $0 of loans were in credit card loans. $6,514,000 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 277 $76,346 $275,617
    Nonfarm, nonresidential loans - <$100k 37 $1,729 $46,730
    Nonfarm, nonresidential loans - $100-250k 85 $10,668 $125,506
    Nonfarm, nonresidential loans - $250k-1MM 155 $63,949 $412,574
    Commercial & Industrial, US addressed loans - <$1MM 628 $24,506 $39,022
    Commercial & Industrial, US addressed loans - <$100k 532 $9,736 $18,301
    Commercial & Industrial, US addressed loans - $100-250k 63 $6,316 $100,254
    Commercial & Industrial, US addressed loans - $250k-1MM 33 $8,454 $256,182
    Farmland loans - <$1MM 31 $5,679 $183,194
    Farmland loans - <$100k 7 $333 $47,571
    Farmland loans - $100-250k 11 $1,371 $124,636
    Farmland loans - $250k-1MM 13 $3,975 $305,769
    Agriculture operations loans - <$1MM 77 $2,678 $34,779
    Agriculture operations loans - <$100k 65 $1,255 $19,308
    Agriculture operations loans - $100-250k 10 $877 $87,700
    Agriculture operations loans - $250k-1MM 2 $546 $273,000