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 Refi and Home Purchase loans. Farmers Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Madison, Stevens Point, Platteville, Milwaukee, and Dubuque among others. We have data for 9 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

    221

    Origination Dollar Volume (All Markets)

    $34,095,000

    Employee count

    50

    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) 185 $30,045,000 $162,405 $0 0.00%
    Outside of Metro Areas 23 $2,395,000 $104,130 $0 0.00%
    Stevens Point, WI (FHA|USDA|VA) 3 $515,000 $171,667 $0 0.00%
    Platteville, WI (FHA|USDA|VA) 5 $355,000 $71,000 $0 0.00%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
    DUBUQUE, IA (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
    Baraboo, WI (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
    FOND DU LAC, WI (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
    Farmers Savings Bank's top markets include Madison, Stevens Point, Platteville, Milwaukee, and Dubuque among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 221 $34,095,000 $154,276 $0 0.00%

    For 2019, Farmers Savings Bank's most frequently originated type of loan was Conventional, with 221 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 94 $16,550,000 $176,064 $0 0.00%
    Home Purchase 67 $11,735,000 $175,149 $0 0.00%
    Cash Out Refi 23 $4,065,000 $176,739 $0 0.00%
    Other 20 $740,000 $37,000 $0 0.00%
    Home Improvement 17 $1,005,000 $59,118 $0 0.00%

    For 2019, Farmers Savings Bank's most frequently cited loan purpose was Refi, with 94 originations. The 2nd most popular reason was Home Purchase, with 67 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 221 $34,095,000 $154,276 $0 0.00%

    For 2019, Farmers Savings Bank's most frequently cited loan duration was Other, with 221 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 78 $11,360,000 $145,641 $0 0.00%
    $100,000 or less 77 $3,465,000 $45,000 $0 0.00%
    $200k-400k 60 $16,210,000 $270,167 $0 0.00%
    $400k-600k 5 $2,455,000 $491,000 $0 0.00%
    $600k-1MM 1 $605,000 $605,000 $0 0.00%

    2019 saw Farmers Savings Bank place emphasis on $100k-200k loans with 78 originations, totaling $11,360,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 51 $6,625,000 $129,902 $0 0.00%
    $75k-100k 45 $6,295,000 $139,889 $0 0.00%
    $100k-150k 41 $8,105,000 $197,683 $0 0.00%
    $50k or less 35 $2,745,000 $78,429 $0 0.00%
    $150k-250k 27 $6,245,000 $231,296 $0 0.00%
    $250k+ 11 $2,845,000 $258,636 $0 0.00%

    Farmers Savings Bank lent most frequently to those with incomes in the $50k-75k range, with 51 originations. The second most popular income band? $75k-100k, with 45 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 221 $34,095,000 $154,276 $0 0.00%

    Farmers Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 221 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 203 $31,175,000 $153,571 $0 0.00%
    Not provided 8 $1,790,000 $223,750 $0 0.00%
    Not applicable 9 $1,025,000 $113,889 $0 0.00%
    Black 1 $105,000 $105,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.13%

    Farmers Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.14%

    Farmers Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 221 $34,095,000 $154,276

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $25,000 $25,000
    Single Family (1-4 Units):Site-Built 220 $34,070,000 $154,864

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Farmers Savings Bank 1113 Johns Street Dodgeville, WI 53533 Full Service B&M $67,689
    Farmers Savings Bank 1833 Business Hwy 18/151 Mount Horeb, WI 53572 Full Service B&M $47,920
    Farmers Savings Bank 305 Doty Street Mineral Point, WI 53565 Full Service B&M $121,519
    Farmers Savings Bank 3156 Main Street Edmund, WI 53535 Full Service B&M $10,320
    Farmers Savings Bank 501 Second Avenue Hollandale, WI 53544 Full Service B&M $18,089
    Farmers Savings Bank 609 Main Street Ridgeway, WI 53582 Full Service B&M $9,562

    For 2019, Farmers Savings Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $11,024
    Net interest income $8,087
    Total noninterest income $2,189
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $306
    Trading account gains and fees $0
    Additional Noninterest Income $1,883
    Pre-tax net operating income $3,519
    Securities gains (or losses, -) $406
    Income before extraordinary items $3,507
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,507
    Minority interest net income $0
    Net income $3,507
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,145

    Farmers Savings Bank's gross interest income from loans was $11,024,000.
    Farmers Savings Bank's net interest income from loans was $8,087,000.
    Farmers Savings Bank's fee based income from loans was $306,000.
    Farmers Savings Bank's net income from loans was $3,507,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,937
    Provision for credit losses $120
    Total noninterest expense $6,637
    Salaries and employee benefits $3,888
    Premises and equipment expense $782
    Additional noninterest expense $1,967
    Applicable income taxes $418
    Net charge-offs $141
    Cash dividends $0

    Farmers Savings Bank's interest expense for loans was $2,937,000.
    Farmers Savings Bank's payroll and benefits expense were $3,888,000.
    Farmers Savings Bank's property, plant and equipment expenses $782,000.

    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 2.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $283,974
    Deposits held in domestic offices $283,974
    Deposits by Individuals, partnerships, and corporations $252,459
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $31,515
    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 $120,740
    Demand deposits $65,208
    Nontransaction accounts $163,234
    Money market deposit accounts (MMDAs) $22,178
    Other savings deposits (excluding MMDAs) $106,659
    Total time deposits $34,397
    Total time and savings deposits $218,766
    Noninterest-bearing deposits $65,173
    Interest-bearing deposits $218,801
    Retail deposits $280,539
    IRAs and Keogh plan accounts $21,508
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $316,572
    Cash & Balances due from depository institutions $22,381
    Interest-bearing balances $15,177
    Total securities $105,604
    Federal funds sold & reverse repurchase $1,251
    Net loans and leases $180,089
    Loan and leases loss allowance $1,740
    Trading account assets $0
    Bank premises and fixed assets $4,984
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $2,263

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $316,572
    Total Liabilities $287,311
    Total deposits $283,974
    Interest-bearing deposits $218,801
    Deposits held in domestic offices $283,974
    % insured (estimated) $83
    Federal funds purchased and repurchase agreements $1,971
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $1,366

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $180,089
    Loan and leases loss allowance $1,740
    Total loans and leases (domestic) $181,829
    All real estate loans $111,071
    Real estate loans in domestic offices $111,071
    Construction and development loans $4,666
    Residential 1-4 family construction $3,964
    Other construction, all land development and other land $702
    Loans secured by nonfarm nonresidential properties $50,267
    Nonfarm nonresidential secured by owner-occupied properties $29,966
    Commercial real estate & other non-farm, non-residential $20,301
    Multifamily residential real estate $1,086
    1-4 family residential loans $35,179
    Farmland loans $19,873
    Loans held in foreign offices $0
    Farm loans $6,614
    Commercial and industrial loans $22,696
    To non-U.S. addressees $0
    Loans to individuals $22,196
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $707
    Other loans to individuals $21,489
    All other loans & leases $19,333
    Loans to foreign governments and official institutions $0
    Other loans $18
    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 $284
    Non 1-4 family restructured loans & leases $284
    Total loans and leases (foreign) $0

    Farmers Savings Bank had $180,089,000 of loans outstanding in 2019. $111,071,000 of loans were in real estate loans. $4,666,000 of loans were in development loans. $1,086,000 of loans were in multifamily mortgage loans. $35,179,000 of loans were in 1-4 family mortgage loans. $6,614,000 of loans were in farm loans. $0 of loans were in credit card loans. $707,000 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 174 $34,641 $199,086
    Nonfarm, nonresidential loans - <$100k 41 $2,380 $58,049
    Nonfarm, nonresidential loans - $100-250k 67 $8,423 $125,716
    Nonfarm, nonresidential loans - $250k-1MM 66 $23,838 $361,182
    Commercial & Industrial, US addressed loans - <$1MM 325 $17,199 $52,920
    Commercial & Industrial, US addressed loans - <$100k 257 $6,334 $24,646
    Commercial & Industrial, US addressed loans - $100-250k 48 $4,713 $98,188
    Commercial & Industrial, US addressed loans - $250k-1MM 20 $6,152 $307,600
    Farmland loans - <$1MM 67 $12,185 $181,866
    Farmland loans - <$100k 9 $555 $61,667
    Farmland loans - $100-250k 34 $4,083 $120,088
    Farmland loans - $250k-1MM 24 $7,547 $314,458
    Agriculture operations loans - <$1MM 121 $5,760 $47,603
    Agriculture operations loans - <$100k 98 $2,505 $25,561
    Agriculture operations loans - $100-250k 20 $2,208 $110,400
    Agriculture operations loans - $250k-1MM 3 $1,047 $349,000