Farmers & Stockmens Bank Mortgage Rates, Fees & Info

Clayton, NM

LEI: 549300BMHSUCH6UGU556

Tax ID: 85-0036360

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Mortgage Data

Bank Data

Review & Overview

Farmers & Stockmens Bank is a smaller bank specializing in Home Purchase 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 by origination volume include: Colorado Springs, Denver, Pueblo, Amarillo, and Breckenridge among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

Farmers & Stockmens 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.54% 3/24/24
30 Year Conventional Refi 6.69% 3/24/24
30 Year Cash-out Refi 6.54% 3/24/24
30 Year FHA Purchase 6.92% 3/24/24
30 Year VA Purchase 6.02% 3/24/24
15 Year Conventional Purchase 9.84% 3/24/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Farmers & Stockmens Bank Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Farmers & Stockmens Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

239

Origination Dollar Volume (All Markets)

$75,315,000

Employee count

57

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
COLORADO SPRINGS, CO (FHA|USDA|VA) 221 $70,915,000 $320,882 $0 0.00%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 6 $2,370,000 $395,000 $0 0.00%
PUEBLO, CO (FHA|USDA|VA) 4 $910,000 $227,500 $0 0.00%
AMARILLO, TX (FHA|USDA|VA) 1 $345,000 $345,000 $0 0.00%
Breckenridge, CO (FHA|USDA|VA) 1 $315,000 $315,000 $0 0.00%
Outside of Metro Areas 4 $190,000 $47,500 $0 0.00%
FORT COLLINS, CO (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
Cañon City, CO (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
Farmers & Stockmens Bank's top markets include Colorado Springs, Denver, Pueblo, Amarillo, and Breckenridge among others.

Their top states include:
  • Colorado (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • New Mexico (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Farmers & Stockmens Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 138 $41,120,000 $297,971 $0 0.00%
    VA 90 $31,790,000 $353,222 $0 0.00%
    FHA 11 $2,405,000 $218,636 $0 0.00%

    For 2018, Farmers & Stockmens Bank's most frequently originated type of loan was Conventional, with 138 originations. Their 2nd most popular type was VA, with 90 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 209 $62,715,000 $300,072 $0 0.00%
    Cash Out Refi 21 $10,435,000 $496,905 $0 0.00%
    Refi 8 $1,960,000 $245,000 $0 0.00%
    Other 1 $205,000 $205,000 $0 0.00%

    For 2018, Farmers & Stockmens Bank's most frequently cited loan purpose was Home Purchase, with 209 originations. The 2nd most popular reason was Cash Out Refi, with 21 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 239 $75,315,000 $315,126 $0 0.00%

    For 2018, Farmers & Stockmens Bank's most frequently cited loan duration was Other, with 239 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 145 $42,305,000 $291,759 $0 0.00%
    $100k-200k 45 $7,205,000 $160,111 $0 0.00%
    $400k-600k 39 $17,955,000 $460,385 $0 0.00%
    $100,000 or less 6 $310,000 $51,667 $0 0.00%
    $1MM+ 3 $6,935,000 $2,311,667 $0 0.00%
    $600k-1MM 1 $605,000 $605,000 $0 0.00%

    2018 saw Farmers & Stockmens Bank place emphasis on $200k-400k loans with 145 originations, totaling $42,305,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 56 $13,980,000 $249,643 $0 0.00%
    $100k-150k 49 $16,395,000 $334,592 $0 0.00%
    $75k-100k 47 $14,245,000 $303,085 $0 0.00%
    $150k-250k 40 $14,040,000 $351,000 $0 0.00%
    $50k or less 28 $5,020,000 $179,286 $0 0.00%
    $250k+ 13 $3,815,000 $293,462 $0 0.00%

    Farmers & Stockmens Bank lent most frequently to those with incomes in the $50k-75k range, with 56 originations. The second most popular income band? $100k-150k, with 49 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 239 $75,315,000 $315,126 $0 0.00%

    Farmers & Stockmens Bank lent most frequently to those with DTI ratios of Exempt%, with 239 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 201 $56,975,000 $283,458 $0 0.00%
    Not applicable 5 $7,805,000 $1,561,000 $0 0.00%
    Black 14 $4,420,000 $315,714 $0 0.00%
    Not provided 9 $2,465,000 $273,889 $0 0.00%
    Asian 6 $2,080,000 $346,667 $0 0.00%
    American Indian 2 $970,000 $485,000 $0 0.00%
    Korean 1 $365,000 $365,000 $0 0.00%
    Asian Indian 1 $235,000 $235,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    98.93%

    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
    83.68%

    Farmers & Stockmens Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 239 $75,315,000 $315,126

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $1,215,000 $1,215,000
    Single Family (1-4 Units):Manufactured 4 $300,000 $75,000
    Single Family (1-4 Units):Site-Built 234 $73,800,000 $315,385

    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 $92,862
    Farmers & Stockmens Bank 22 Maple Street Clayton, NM 88415 Full Service B&M $58,839
    Farmers & Stockmens Bank 405 Chicosa Street Roy, NM 87743 Full Service B&M $7,786
    Farmers & Stockmens Bank Highway 87 Des Moines, NM 88418 Full Service B&M $8,140

    For 2018, Farmers & Stockmens Bank had 4 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $10,954
    Net interest income $9,399
    Total noninterest income $5,126
    Gross Fiduciary activities income $1,873
    Service charges on deposit accounts $279
    Trading account gains and fees $0
    Additional Noninterest Income $2,974
    Pre-tax net operating income $4,360
    Securities gains (or losses, -) $0
    Income before extraordinary items $4,360
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,360
    Minority interest net income $0
    Net income $4,360
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,360

    Farmers & Stockmens Bank's gross interest income from loans was $10,954,000.
    Farmers & Stockmens Bank's net interest income from loans was $9,399,000.
    Farmers & Stockmens Bank's fee based income from loans was $279,000.
    Farmers & Stockmens Bank's net income from loans was $4,360,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,555
    Provision for credit losses $130
    Total noninterest expense $10,035
    Salaries and employee benefits $6,216
    Premises and equipment expense $991
    Additional noninterest expense $2,828
    Applicable income taxes $0
    Net charge-offs $25
    Cash dividends $2,338

    Farmers & Stockmens Bank's interest expense for loans was $1,555,000.
    Farmers & Stockmens Bank's payroll and benefits expense were $6,216,000.
    Farmers & Stockmens Bank's property, plant and equipment expenses $991,000.

    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 $187,643
    Deposits held in domestic offices $187,643
    Deposits by Individuals, partnerships, and corporations $156,975
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $27,089
    Deposits by Commercial banks and other depository institutions in U.S. $3,579
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $82,771
    Demand deposits $58,374
    Nontransaction accounts $104,872
    Money market deposit accounts (MMDAs) $59,199
    Other savings deposits (excluding MMDAs) $9,377
    Total time deposits $36,296
    Total time and savings deposits $129,269
    Noninterest-bearing deposits $58,374
    Interest-bearing deposits $129,269
    Retail deposits $173,343
    IRAs and Keogh plan accounts $3,502
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $224,410
    Cash & Balances due from depository institutions $31,230
    Interest-bearing balances $25,904
    Total securities $3,950
    Federal funds sold & reverse repurchase $27,023
    Net loans and leases $153,321
    Loan and leases loss allowance $2,376
    Trading account assets $0
    Bank premises and fixed assets $2,420
    Other real estate owned $188
    Goodwill and other intangibles $3,479
    All other assets $2,799

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $224,410
    Total Liabilities $197,696
    Total deposits $187,643
    Interest-bearing deposits $129,269
    Deposits held in domestic offices $187,643
    % insured (estimated) $58
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $9,043
    Subordinated debt $0
    All other liabilities $1,010

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $153,321
    Loan and leases loss allowance $2,376
    Total loans and leases (domestic) $155,697
    All real estate loans $124,927
    Real estate loans in domestic offices $124,927
    Construction and development loans $16,527
    Residential 1-4 family construction $8,546
    Other construction, all land development and other land $7,981
    Loans secured by nonfarm nonresidential properties $66,571
    Nonfarm nonresidential secured by owner-occupied properties $38,994
    Commercial real estate & other non-farm, non-residential $27,577
    Multifamily residential real estate $9,110
    1-4 family residential loans $8,927
    Farmland loans $23,792
    Loans held in foreign offices $0
    Farm loans $14,529
    Commercial and industrial loans $14,402
    To non-U.S. addressees $0
    Loans to individuals $1,766
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $955
    Other loans to individuals $811
    All other loans & leases $73
    Loans to foreign governments and official institutions $0
    Other loans $28
    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 $27
    Non 1-4 family restructured loans & leases $27
    Total loans and leases (foreign) $0

    Farmers & Stockmens Bank had $153,321,000 of loans outstanding in 2018. $124,927,000 of loans were in real estate loans. $16,527,000 of loans were in development loans. $9,110,000 of loans were in multifamily mortgage loans. $8,927,000 of loans were in 1-4 family mortgage loans. $14,529,000 of loans were in farm loans. $0 of loans were in credit card loans. $955,000 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 81 $19,387 $239,346
    Nonfarm, nonresidential loans - <$100k 7 $281 $40,143
    Nonfarm, nonresidential loans - $100-250k 12 $919 $76,583
    Nonfarm, nonresidential loans - $250k-1MM 62 $18,187 $293,339
    Commercial & Industrial, US addressed loans - <$1MM 111 $12,361 $111,360
    Commercial & Industrial, US addressed loans - <$100k 49 $1,247 $25,449
    Commercial & Industrial, US addressed loans - $100-250k 33 $3,039 $92,091
    Commercial & Industrial, US addressed loans - $250k-1MM 29 $8,075 $278,448
    Farmland loans - <$1MM 45 $6,370 $141,556
    Farmland loans - <$100k 14 $526 $37,571
    Farmland loans - $100-250k 18 $2,487 $138,167
    Farmland loans - $250k-1MM 13 $3,357 $258,231
    Agriculture operations loans - <$1MM 131 $7,750 $59,160
    Agriculture operations loans - <$100k 90 $2,232 $24,800
    Agriculture operations loans - $100-250k 25 $2,420 $96,800
    Agriculture operations loans - $250k-1MM 16 $3,098 $193,625