Farmers & Stockmens Bank Mortgage Rates, Fees & Info

Clayton, NM

LEI: 549300BMHSUCH6UGU556

Tax ID: 85-0036360

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 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.

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Originations

239

Origination Dollar Volume (All Markets)

$75,315,000

Employee count

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.

Guaranty Bank and Trust Co
Similarity Rank: 493

DENVER COMMUNITY
Similarity Rank: 548

Third Federal Savings and Loan Association of Cleveland
Similarity Rank: 614

First American State Bank
Similarity Rank: 985

Aurora Financial, LLC
Similarity Rank: 1080

Credit Union Lending Source
Similarity Rank: 1148

Calatlantic Morgage Inc.
Similarity Rank: 1404

ROCKY MOUNTAIN LAW ENFORCEMENT FCU
Similarity Rank: 1470

HUNT MORTGAGE CORPORATION
Similarity Rank: 1890

U S WIDE FINANCIAL LLC
Similarity Rank: 1927

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