Farmers & Stockmens Bank Mortgage Rates, Fees & Info
Clayton, NMLEI: 549300BMHSUCH6UGU556
Tax ID: 85-0036360
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Bank Data
Overview
Farmers & Stockmens Bank is a smaller bank specializing in Home Purchase and Refi loans. Farmers & Stockmens Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets include Colorado Springs, Denver, Pueblo, Charleston, and Cañon City among others. Farmers & Stockmens Bank has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Farmers & Stockmens Bank is typically an average fee lendor.Originations
545Origination Dollar Volume (All Markets)
$191,585,000Employee count
101Awards
Farmers & Stockmens Bank - 2021
Farmers & Stockmens Bank is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
Farmers & Stockmens Bank's average 30 year fixed rate mortgage of loans were
2.72%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.43%.
Relative Fees
Farmers & Stockmens Bank's average total fees for a 30 year fixed rate
mortgage are $4,154.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 368 | $131,080,000 | $356,196 | $4,420 | 2.62% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 104 | $40,370,000 | $388,173 | $2,434 | 2.78% |
| Outside of Metro Areas | 20 | $3,960,000 | $198,000 | $2,241 | 4.60% |
| PUEBLO, CO (FHA|USDA|VA) | 15 | $3,525,000 | $235,000 | $5,090 | 2.64% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 3 | $1,495,000 | $498,333 | $3,839 | 3.25% |
| Cañon City, CO (FHA|USDA|VA) | 4 | $1,150,000 | $287,500 | $9,332 | 2.72% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 2 | $1,090,000 | $545,000 | $3,924 | 3.13% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 2 | $890,000 | $445,000 | $2,099 | 2.69% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 2 | $810,000 | $405,000 | $1,234 | 2.44% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $655,000 | $655,000 | $0 | 2.75% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $17,288 | 2.75% |
| FORT COLLINS, CO (FHA|USDA|VA) | 3 | $635,000 | $211,667 | $1,861 | 2.83% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $4,038 | 2.63% |
| AMARILLO, TX (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $2,767 | 3.13% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $1,061 | 2.50% |
| GREELEY, CO (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $1,954 | 3.38% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $16,840 | 2.38% |
| Outside of Metro Areas | 1 | $345,000 | $345,000 | $0 | 2.25% |
| Edwards, CO (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $917 | 2.88% |
| ST. GEORGE, UT (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $1,126 | 3.25% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $1,500 | 3.13% |
| IDAHO FALLS, ID (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,210 | 2.25% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $704 | 2.50% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $2,896 | 2.63% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 3.38% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,100 | 2.75% |
| BOULDER, CO (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,069 | 2.25% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $1,470 | 2.88% |
| Las Vegas, NM (FHA|USDA|VA) | 2 | $150,000 | $75,000 | $3,242 | 4.56% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $1,954 | 3.50% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 3.75% |
Farmers & Stockmens Bank's top markets include Colorado Springs, Denver, Pueblo, Charleston, and Cañon City among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 358 | $113,330,000 | $316,564 | $2,346 | 2.94% |
| VA | 172 | $73,360,000 | $426,512 | $6,530 | 2.37% |
| FHA | 15 | $4,895,000 | $326,333 | $7,293 | 2.40% |
For the 2021 period, Farmers & Stockmens Bank's most frequently originated loan type of loans were Conventional, with 358 originations. Their 2nd most popular type is VA, with 172 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Purchase | 223 | $91,395,000 | $409,843 | $6,112 | 2.88% |
| Refi | 212 | $64,750,000 | $305,425 | $1,906 | 2.59% |
| Cash Out Refi | 110 | $35,440,000 | $322,182 | $3,261 | 2.77% |
For the 2021, Farmers & Stockmens Bank's most frequently cited loan purpose of loans were Home Purchase, with 223 originations. The 2nd most popular reason of loans were Refi, with 212 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 476 | $173,360,000 | $364,202 | $4,154 | 2.72% |
| 15 Year | 40 | $10,490,000 | $262,250 | $2,098 | 2.49% |
| 20 Year | 15 | $4,765,000 | $317,667 | $3,021 | 2.71% |
| Other | 7 | $2,305,000 | $329,286 | $1,056 | 4.25% |
| 10 Year | 5 | $565,000 | $113,000 | $1,827 | 3.65% |
| 3 Year | 2 | $100,000 | $50,000 | $0 | 6.50% |
For the 2021, Farmers & Stockmens Bank's most frequently cited loan length of loans were 30 Year, with 476 originations. The 2nd most popular length of loans were 15 Year, with 40 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 427 | $153,165,000 | $358,700 |
| $1k-2k | 29 | $8,825,000 | $304,310 |
| $3k-4k | 16 | $6,360,000 | $397,500 |
| $2k-3k | 13 | $5,935,000 | $456,538 |
| $5k+ | 5 | $3,545,000 | $709,000 |
$4,154 of loans were Farmers & Stockmens Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 427 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| <2.5% | 230 | $81,430,000 | $354,043 |
| 2.5-3% | 225 | $80,815,000 | $359,178 |
| 3-4% | 76 | $25,020,000 | $329,211 |
| 6-7% | 5 | $325,000 | $65,000 |
| 5-6% | 5 | $545,000 | $109,000 |
| 4-5% | 3 | $3,435,000 | $1,145,000 |
| 7-8% | 1 | $15,000 | $15,000 |
During 2021, Farmers & Stockmens Bank's average interest rate of loans were 2.72%, while their most frequently originated rate bucket of loans were <2.5%, with 230 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 276 | $85,210,000 | $308,732 | $3,583 | 2.68% |
| $400k-600k | 149 | $71,475,000 | $479,698 | $4,617 | 2.65% |
| $100k-200k | 78 | $12,270,000 | $157,308 | $2,067 | 2.71% |
| $600k-1MM | 22 | $15,990,000 | $726,818 | $8,544 | 2.66% |
| $100,000 or less | 15 | $905,000 | $60,333 | $1,747 | 4.93% |
| $1MM+ | 5 | $5,735,000 | $1,147,000 | $6,948 | 3.55% |
2021 saw Farmers & Stockmens Bank place emphasis on $200k-400k loans with 276 originations, totaling $85,210,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 126 | $45,210,000 | $358,810 | $4,525 | 2.76% |
| $75k-100k | 99 | $33,745,000 | $340,859 | $4,541 | 2.72% |
| $50k-75k | 98 | $28,120,000 | $286,939 | $4,809 | 2.78% |
| $150k-250k | 96 | $39,520,000 | $411,667 | $3,017 | 2.76% |
| $250k+ | 39 | $17,485,000 | $448,333 | $4,379 | 2.87% |
| $50k or less | 27 | $4,485,000 | $166,111 | $3,047 | 3.27% |
Farmers & Stockmens Bank lent most frequently to those with incomes in the $100k-150k range, with 126 originations. The second most popular income band? $75k-100k, with 99 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 137 | $43,575,000 | $318,066 | $3,421 | 2.86% |
| 30-36% | 90 | $31,230,000 | $347,000 | $4,311 | 2.76% |
| <20% | 68 | $19,350,000 | $284,559 | $1,999 | 2.65% |
| 41% | 20 | $8,180,000 | $409,000 | $4,347 | 2.73% |
| 40% | 18 | $7,470,000 | $415,000 | $5,279 | 2.83% |
| 50-60% | 16 | $7,090,000 | $443,125 | $7,815 | 2.39% |
| 39% | 16 | $5,350,000 | $334,375 | $3,964 | 3.07% |
| 42% | 13 | $6,005,000 | $461,923 | $4,752 | 2.97% |
| 37% | 13 | $5,785,000 | $445,000 | $4,622 | 3.37% |
| 43% | 13 | $4,485,000 | $345,000 | $5,320 | 2.93% |
| 49% | 12 | $4,690,000 | $390,833 | $7,413 | 2.66% |
| 36% | 12 | $3,950,000 | $329,167 | $6,215 | 2.66% |
| 44% | 11 | $4,815,000 | $437,727 | $5,561 | 2.90% |
| 38% | 11 | $3,565,000 | $324,091 | $2,649 | 2.66% |
| 45% | 10 | $3,740,000 | $374,000 | $4,549 | 3.06% |
| 47% | 9 | $3,195,000 | $355,000 | $5,041 | 2.57% |
| 48% | 8 | $3,130,000 | $391,250 | $7,609 | 2.64% |
| 46% | 7 | $2,205,000 | $315,000 | $6,039 | 2.59% |
| >60% | 2 | $780,000 | $390,000 | $29,883 | 4.25% |
Farmers & Stockmens Bank lent most frequently to those with DTI ratios of 20-30%, with 137 originations. The next most common DTI ratio? 30-36%, with 90 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 452 | $156,520,000 | $346,283 | $3,636 | 2.77% |
| Not provided | 48 | $17,130,000 | $356,875 | $5,743 | 2.54% |
| Asian | 21 | $7,605,000 | $362,143 | $4,673 | 2.64% |
| Black | 18 | $7,460,000 | $414,444 | $4,951 | 2.47% |
| Not applicable | 1 | $1,355,000 | $1,355,000 | $0 | 5.00% |
| Native Hawaiian | 2 | $1,050,000 | $525,000 | $8,909 | 2.50% |
| American Indian | 3 | $465,000 | $155,000 | $1,222 | 4.04% |
Approval Rates
Total approvals of all applications98.67%
Farmers & Stockmens Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination83.50%
Farmers & Stockmens Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 545 | $191,585,000 | $351,532 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 545 | $191,585,000 | $351,532 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 45 | $10,645,000 | $236,556 | $2,171 | 2.59% |
| 40-60% | 95 | $26,285,000 | $276,684 | $2,340 | 2.75% |
| 60-80% | 185 | $65,675,000 | $355,000 | $2,854 | 2.97% |
| 80-100% | 137 | $55,985,000 | $408,650 | $4,780 | 2.70% |
| Over 100% | 38 | $16,440,000 | $432,632 | $13,473 | 2.60% |
| Under 20% | 2 | $230,000 | $115,000 | $1,056 | 2.63% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Farmers & Stockmens Bank | 1 South Nevada Avenue Colorado Springs, CO 80903 | Full Service B&M | $183,048 |
| Farmers & Stockmens Bank | 22 Maple Street Clayton, NM 88415 | Full Service B&M | $68,957 |
| Farmers & Stockmens Bank | 405 Chicosa Street Roy, NM 87743 | Full Service B&M | $13,628 |
| Farmers & Stockmens Bank | 4582 South Ulster Street, Suite 150 Denver, CO 80237 | Full Service B&M | $69,613 |
| Farmers & Stockmens Bank | Highway 87 Des Moines, NM 88418 | Full Service B&M | $6,596 |
For 2021, Farmers & Stockmens Bank had 5 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $17,504 |
| Net interest income | $16,370 |
| Total noninterest income | $11,332 |
| Gross Fiduciary activities income | $2,457 |
| Service charges on deposit accounts | $312 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $8,563 |
| Pre-tax net operating income | $6,371 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $6,371 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $6,371 |
| Minority interest net income | $0 |
| Net income | $6,371 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $6,371 |
Farmers & Stockmens Bank's gross interest income from loans was $17,504,000.
Farmers & Stockmens Bank's net interest income from loans was $16,370,000.
Farmers & Stockmens Bank's fee based income from loans was $312,000.
Farmers & Stockmens Bank's net income from loans was $6,371,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $1,134 |
| Provision for credit losses | $915 |
| Total noninterest expense | $20,416 |
| Salaries and employee benefits | $14,293 |
| Premises and equipment expense | $1,273 |
| Additional noninterest expense | $4,850 |
| Applicable income taxes | $0 |
| Net charge-offs | $9 |
| Cash dividends | $4,069 |
Farmers & Stockmens Bank's interest expense for loans was $1,134,000.
Farmers & Stockmens Bank's payroll and benefits expense were $14,293,000.
Farmers & Stockmens Bank's property, plant and equipment expenses $1,273,000.
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 | 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 | $498,983 |
| Deposits held in domestic offices | $498,983 |
| Deposits by Individuals, partnerships, and corporations | $476,070 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $22,913 |
| Deposits by Commercial banks and other depository institutions in U.S. | $0 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $293,009 |
| Demand deposits | $251,668 |
| Nontransaction accounts | $205,974 |
| Money market deposit accounts (MMDAs) | $172,785 |
| Other savings deposits (excluding MMDAs) | $14,608 |
| Total time deposits | $18,580 |
| Total time and savings deposits | $247,315 |
| Noninterest-bearing deposits | $251,668 |
| Interest-bearing deposits | $247,315 |
| Retail deposits | $496,905 |
| IRAs and Keogh plan accounts | $3,200 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $560,163 |
| Cash & Balances due from depository institutions | $49,027 |
| Interest-bearing balances | $44,660 |
| Total securities | $13,083 |
| Federal funds sold & reverse repurchase | $208,313 |
| Net loans and leases | $280,376 |
| Loan and leases loss allowance | $4,341 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $2,451 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $3,497 |
| All other assets | $3,416 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $560,163 |
| Total Liabilities | $512,683 |
| Total deposits | $498,983 |
| Interest-bearing deposits | $247,315 |
| Deposits held in domestic offices | $498,983 |
| % insured (estimated) | $40 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $11,748 |
| Subordinated debt | $0 |
| All other liabilities | $1,952 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $280,376 |
| Loan and leases loss allowance | $4,341 |
| Total loans and leases (domestic) | $284,717 |
| All real estate loans | $206,306 |
| Real estate loans in domestic offices | $206,306 |
| Construction and development loans | $30,375 |
| Residential 1-4 family construction | $12,445 |
| Other construction, all land development and other land | $17,930 |
| Loans secured by nonfarm nonresidential properties | $135,527 |
| Nonfarm nonresidential secured by owner-occupied properties | $85,608 |
| Commercial real estate & other non-farm, non-residential | $49,919 |
| Multifamily residential real estate | $1,705 |
| 1-4 family residential loans | $14,374 |
| Farmland loans | $24,325 |
| Loans held in foreign offices | $0 |
| Farm loans | $20,180 |
| Commercial and industrial loans | $54,824 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $3,377 |
| Credit card loans | $0 |
| Related Plans | $0 |
| Consumer Auto Loans | $1,222 |
| Other loans to individuals | $2,155 |
| All other loans & leases | $29 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $29 |
| 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 | $160 |
| Total loans and leases (foreign) | $0 |
Farmers & Stockmens Bank had $280,376,000 of loans outstanding in 2021. $206,306,000 of loans were in real estate loans. $30,375,000 of loans were in development loans. $1,705,000 of loans were in multifamily mortgage loans. $14,374,000 of loans were in 1-4 family mortgage loans. $20,180,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,222,000 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 | 98 | $30,805 | $314,337 |
| Nonfarm, nonresidential loans - <$100k | 11 | $435 | $39,545 |
| Nonfarm, nonresidential loans - $100-250k | 16 | $1,541 | $96,313 |
| Nonfarm, nonresidential loans - $250k-1MM | 71 | $28,829 | $406,042 |
| Commercial & Industrial, US addressed loans - <$1MM | 213 | $21,525 | $101,056 |
| Commercial & Industrial, US addressed loans - <$100k | 114 | $3,013 | $26,430 |
| Commercial & Industrial, US addressed loans - $100-250k | 48 | $4,460 | $92,917 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 51 | $14,052 | $275,529 |
| Farmland loans - <$1MM | 42 | $6,554 | $156,048 |
| Farmland loans - <$100k | 11 | $528 | $48,000 |
| Farmland loans - $100-250k | 19 | $3,045 | $160,263 |
| Farmland loans - $250k-1MM | 12 | $2,981 | $248,417 |
| Agriculture operations loans - <$1MM | 143 | $8,032 | $56,168 |
| Agriculture operations loans - <$100k | 94 | $1,617 | $17,202 |
| Agriculture operations loans - $100-250k | 29 | $1,957 | $67,483 |
| Agriculture operations loans - $250k-1MM | 20 | $4,458 | $222,900 |
