Farmers Savings Bank Mortgage Rates, Fees & Info

Mineral Point, WI

LEI: 549300DDJMNOWGXL6236

Tax ID: 39-0273800

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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 Savings Bank is a smaller bank specializing in Home Purchase and Refi loans. Farmers Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Madison, Janesville, Platteville, Baraboo, and Watertown among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Farmers Savings 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

    169

    Origination Dollar Volume (All Markets)

    $24,635,000

    Employee count

    53

    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
    MADISON, WI (FHA|USDA|VA) 142 $21,550,000 $151,761 $0 0.00%
    Outside of Metro Areas 18 $1,640,000 $91,111 $0 0.00%
    JANESVILLE-BELOIT, WI (FHA|USDA|VA) 2 $690,000 $345,000 $0 0.00%
    Platteville, WI (FHA|USDA|VA) 3 $275,000 $91,667 $0 0.00%
    Baraboo, WI (FHA|USDA|VA) 2 $230,000 $115,000 $0 0.00%
    Watertown-Fort Atkinson, WI (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
    Stevens Point, WI (FHA|USDA|VA) 1 $95,000 $95,000 $0 0.00%
    Farmers Savings Bank's top markets include Madison, Janesville, Platteville, Baraboo, and Watertown among others.

    Their top states include:
  • Wisconsin (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 169 $24,635,000 $145,769 $0 0.00%

    For 2018, Farmers Savings Bank's most frequently originated type of loan was Conventional, with 169 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 77 $15,585,000 $202,403 $0 0.00%
    Refi 52 $7,320,000 $140,769 $0 0.00%
    Home Improvement 19 $685,000 $36,053 $0 0.00%
    Other 17 $595,000 $35,000 $0 0.00%
    Cash Out Refi 4 $450,000 $112,500 $0 0.00%

    For 2018, Farmers Savings Bank's most frequently cited loan purpose was Home Purchase, with 77 originations. The 2nd most popular reason was Refi, with 52 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 169 $24,635,000 $145,769 $0 0.00%

    For 2018, Farmers Savings Bank's most frequently cited loan duration was Other, with 169 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 82 $3,890,000 $47,439 $0 0.00%
    $100k-200k 59 $8,585,000 $145,508 $0 0.00%
    $200k-400k 20 $5,460,000 $273,000 $0 0.00%
    $400k-600k 6 $2,790,000 $465,000 $0 0.00%
    $1MM+ 2 $3,910,000 $1,955,000 $0 0.00%

    2018 saw Farmers Savings Bank place emphasis on $100,000 or less loans with 82 originations, totaling $3,890,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 38 $3,990,000 $105,000 $0 0.00%
    $50k or less 34 $2,520,000 $74,118 $0 0.00%
    $100k-150k 30 $4,610,000 $153,667 $0 0.00%
    $75k-100k 30 $2,790,000 $93,000 $0 0.00%
    $150k-250k 13 $2,615,000 $201,154 $0 0.00%
    $250k+ 4 $560,000 $140,000 $0 0.00%

    Farmers Savings Bank lent most frequently to those with incomes in the $50k-75k range, with 38 originations. The second most popular income band? $50k or less, with 34 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 169 $24,635,000 $145,769 $0 0.00%

    Farmers Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 169 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 138 $15,570,000 $112,826 $0 0.00%
    Not applicable 20 $7,550,000 $377,500 $0 0.00%
    Not provided 11 $1,515,000 $137,727 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.96%

    Farmers Savings 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
    87.57%

    Farmers Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 169 $24,635,000 $145,769

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $2,885,000 $2,885,000
    Multifamily:Site-Built 2 $700,000 $350,000
    Single Family (1-4 Units):Manufactured 2 $60,000 $30,000
    Single Family (1-4 Units):Site-Built 164 $20,990,000 $127,988

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Farmers Savings Bank 1113 Johns Street Dodgeville, WI 53533 Full Service B&M $66,083
    Farmers Savings Bank 1833 Business Hwy 18/151 Mount Horeb, WI 53572 Full Service B&M $39,521
    Farmers Savings Bank 305 Doty Street Mineral Point, WI 53565 Full Service B&M $124,250
    Farmers Savings Bank 3156 Main Street Edmund, WI 53535 Full Service B&M $9,666
    Farmers Savings Bank 501 Second Avenue Hollandale, WI 53544 Full Service B&M $18,081
    Farmers Savings Bank 609 Main Street Ridgeway, WI 53582 Full Service B&M $8,514

    For 2018, Farmers Savings Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $9,827
    Net interest income $7,689
    Total noninterest income $1,618
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $323
    Trading account gains and fees $0
    Additional Noninterest Income $1,295
    Pre-tax net operating income $3,258
    Securities gains (or losses, -) $-11
    Income before extraordinary items $3,247
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,247
    Minority interest net income $0
    Net income $3,247
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,258

    Farmers Savings Bank's gross interest income from loans was $9,827,000.
    Farmers Savings Bank's net interest income from loans was $7,689,000.
    Farmers Savings Bank's fee based income from loans was $323,000.
    Farmers Savings Bank's net income from loans was $3,247,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,138
    Provision for credit losses $0
    Total noninterest expense $6,049
    Salaries and employee benefits $3,549
    Premises and equipment expense $606
    Additional noninterest expense $1,894
    Applicable income taxes $0
    Net charge-offs $2
    Cash dividends $2,000

    Farmers Savings Bank's interest expense for loans was $2,138,000.
    Farmers Savings Bank's payroll and benefits expense were $3,549,000.
    Farmers Savings Bank's property, plant and equipment expenses $606,000.

    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 $268,727
    Deposits held in domestic offices $268,727
    Deposits by Individuals, partnerships, and corporations $242,544
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $26,183
    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 $120,529
    Demand deposits $68,167
    Nontransaction accounts $148,198
    Money market deposit accounts (MMDAs) $15,347
    Other savings deposits (excluding MMDAs) $96,598
    Total time deposits $36,253
    Total time and savings deposits $200,560
    Noninterest-bearing deposits $68,167
    Interest-bearing deposits $200,560
    Retail deposits $265,355
    IRAs and Keogh plan accounts $21,490
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $295,380
    Cash & Balances due from depository institutions $18,341
    Interest-bearing balances $11,282
    Total securities $87,659
    Federal funds sold & reverse repurchase $1,189
    Net loans and leases $181,167
    Loan and leases loss allowance $1,761
    Trading account assets $0
    Bank premises and fixed assets $5,246
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $1,778

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $295,380
    Total Liabilities $271,560
    Total deposits $268,727
    Interest-bearing deposits $200,560
    Deposits held in domestic offices $268,727
    % insured (estimated) $84
    Federal funds purchased and repurchase agreements $1,675
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $1,158

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $181,167
    Loan and leases loss allowance $1,761
    Total loans and leases (domestic) $182,928
    All real estate loans $112,105
    Real estate loans in domestic offices $112,105
    Construction and development loans $6,067
    Residential 1-4 family construction $4,421
    Other construction, all land development and other land $1,646
    Loans secured by nonfarm nonresidential properties $50,445
    Nonfarm nonresidential secured by owner-occupied properties $36,660
    Commercial real estate & other non-farm, non-residential $13,785
    Multifamily residential real estate $1,184
    1-4 family residential loans $35,105
    Farmland loans $19,304
    Loans held in foreign offices $0
    Farm loans $6,686
    Commercial and industrial loans $20,598
    To non-U.S. addressees $0
    Loans to individuals $24,309
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $777
    Other loans to individuals $23,532
    All other loans & leases $19,319
    Loans to foreign governments and official institutions $0
    Other loans $51
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Farmers Savings Bank had $181,167,000 of loans outstanding in 2018. $112,105,000 of loans were in real estate loans. $6,067,000 of loans were in development loans. $1,184,000 of loans were in multifamily mortgage loans. $35,105,000 of loans were in 1-4 family mortgage loans. $6,686,000 of loans were in farm loans. $0 of loans were in credit card loans. $777,000 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 178 $37,131 $208,601
    Nonfarm, nonresidential loans - <$100k 43 $2,334 $54,279
    Nonfarm, nonresidential loans - $100-250k 69 $8,775 $127,174
    Nonfarm, nonresidential loans - $250k-1MM 66 $26,022 $394,273
    Commercial & Industrial, US addressed loans - <$1MM 311 $14,541 $46,756
    Commercial & Industrial, US addressed loans - <$100k 251 $6,172 $24,590
    Commercial & Industrial, US addressed loans - $100-250k 41 $3,752 $91,512
    Commercial & Industrial, US addressed loans - $250k-1MM 19 $4,617 $243,000
    Farmland loans - <$1MM 67 $11,919 $177,896
    Farmland loans - <$100k 11 $646 $58,727
    Farmland loans - $100-250k 34 $4,200 $123,529
    Farmland loans - $250k-1MM 22 $7,073 $321,500
    Agriculture operations loans - <$1MM 112 $6,007 $53,634
    Agriculture operations loans - <$100k 89 $2,324 $26,112
    Agriculture operations loans - $100-250k 19 $2,221 $116,895
    Agriculture operations loans - $250k-1MM 4 $1,462 $365,500