Farmers & Stockmens Bank Mortgage Rates, Fees & Info

Clayton, NM

LEI: 549300BMHSUCH6UGU556

Tax ID: 85-0036360

5 stars - out of 5 stars, based on 23 reviews

2021 Data | 2020 Data | 2019 Data | 2018 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

545

Origination Dollar Volume (All Markets)

$191,585,000

Employee count

101 Show all (12) awards

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 applications
98.67%

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 origination
83.50%

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