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 Cash Out Refi loans. Farmers Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Madison, Baraboo, Platteville, Stevens Point, and Wausau among others. We have data for 8 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

    480

    Origination Dollar Volume (All Markets)

    $89,220,000

    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) 428 $79,750,000 $186,332 $0 0.00%
    Outside of Metro Areas 30 $5,490,000 $183,000 $0 0.00%
    Baraboo, WI (FHA|USDA|VA) 9 $2,025,000 $225,000 $0 0.00%
    Platteville, WI (FHA|USDA|VA) 9 $1,125,000 $125,000 $0 0.00%
    Stevens Point, WI (FHA|USDA|VA) 1 $275,000 $275,000 $0 0.00%
    WAUSAU-WESTON, WI (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
    DUBUQUE, IA (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
    Farmers Savings Bank's top markets include Madison, Baraboo, Platteville, Stevens Point, and Wausau 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 480 $89,220,000 $185,875 $0 0.00%

    For 2020, Farmers Savings Bank's most frequently originated type of loan was Conventional, with 480 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 271 $50,085,000 $184,815 $0 0.00%
    Cash Out Refi 110 $21,560,000 $196,000 $0 0.00%
    Home Purchase 85 $16,595,000 $195,235 $0 0.00%
    Other 8 $670,000 $83,750 $0 0.00%
    Home Improvement 6 $310,000 $51,667 $0 0.00%

    For 2020, Farmers Savings Bank's most frequently cited loan purpose was Refi, with 271 originations. The 2nd most popular reason was Cash Out Refi, with 110 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 480 $89,220,000 $185,875 $0 0.00%

    For 2020, Farmers Savings Bank's most frequently cited loan duration was Other, with 480 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 214 $31,760,000 $148,411 $0 0.00%
    $200k-400k 169 $45,095,000 $266,834 $0 0.00%
    $100,000 or less 83 $5,395,000 $65,000 $0 0.00%
    $400k-600k 13 $5,805,000 $446,538 $0 0.00%
    $1MM+ 1 $1,165,000 $1,165,000 $0 0.00%

    2020 saw Farmers Savings Bank place emphasis on $100k-200k loans with 214 originations, totaling $31,760,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 121 $25,755,000 $212,851 $0 0.00%
    $75k-100k 112 $21,070,000 $188,125 $0 0.00%
    $50k-75k 97 $14,665,000 $151,186 $0 0.00%
    $50k or less 60 $6,560,000 $109,333 $0 0.00%
    $150k-250k 54 $12,610,000 $233,519 $0 0.00%
    $250k+ 16 $4,190,000 $261,875 $0 0.00%

    Farmers Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 121 originations. The second most popular income band? $75k-100k, with 112 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 480 $89,220,000 $185,875 $0 0.00%

    Farmers Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 480 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 428 $78,950,000 $184,463 $0 0.00%
    Not provided 31 $5,555,000 $179,194 $0 0.00%
    Not applicable 17 $4,025,000 $236,765 $0 0.00%
    American Indian 2 $430,000 $215,000 $0 0.00%
    Black 1 $145,000 $145,000 $0 0.00%
    Asian 1 $115,000 $115,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.53%

    Farmers Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    85.63%

    Farmers Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 480 $89,220,000 $185,875

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $835,000 $278,333
    Single Family (1-4 Units):Manufactured 4 $390,000 $97,500
    Single Family (1-4 Units):Site-Built 473 $87,995,000 $186,036

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Farmers Savings Bank 1113 Johns Street Dodgeville, WI 53533 Full Service B&M $78,734
    Farmers Savings Bank 1833 Business Hwy 18/151 Mount Horeb, WI 53572 Full Service B&M $54,906
    Farmers Savings Bank 305 Doty Street Mineral Point, WI 53565 Full Service B&M $142,078
    Farmers Savings Bank 3156 Main Street Edmund, WI 53535 Full Service B&M $11,278
    Farmers Savings Bank 501 Second Avenue Hollandale, WI 53544 Full Service B&M $18,977
    Farmers Savings Bank 609 Main Street Ridgeway, WI 53582 Full Service B&M $10,365

    For 2020, Farmers Savings Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $11,412
    Net interest income $10,021
    Total noninterest income $4,762
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $208
    Trading account gains and fees $0
    Additional Noninterest Income $4,554
    Pre-tax net operating income $6,784
    Securities gains (or losses, -) $26
    Income before extraordinary items $6,250
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $6,250
    Minority interest net income $0
    Net income $6,250
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $6,226

    Farmers Savings Bank's gross interest income from loans was $11,412,000.
    Farmers Savings Bank's net interest income from loans was $10,021,000.
    Farmers Savings Bank's fee based income from loans was $208,000.
    Farmers Savings Bank's net income from loans was $6,250,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,391
    Provision for credit losses $870
    Total noninterest expense $7,129
    Salaries and employee benefits $4,305
    Premises and equipment expense $791
    Additional noninterest expense $2,033
    Applicable income taxes $560
    Net charge-offs $-9
    Cash dividends $0

    Farmers Savings Bank's interest expense for loans was $1,391,000.
    Farmers Savings Bank's payroll and benefits expense were $4,305,000.
    Farmers Savings Bank's property, plant and equipment expenses $791,000.

    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 $337,411
    Deposits held in domestic offices $337,411
    Deposits by Individuals, partnerships, and corporations $302,020
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $35,143
    Deposits by Commercial banks and other depository institutions in U.S. $248
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $154,955
    Demand deposits $84,728
    Nontransaction accounts $182,456
    Money market deposit accounts (MMDAs) $24,125
    Other savings deposits (excluding MMDAs) $126,273
    Total time deposits $32,058
    Total time and savings deposits $252,683
    Noninterest-bearing deposits $84,727
    Interest-bearing deposits $252,684
    Retail deposits $333,513
    IRAs and Keogh plan accounts $22,366
    Brokered deposits $1,000
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $378,469
    Cash & Balances due from depository institutions $33,060
    Interest-bearing balances $25,241
    Total securities $140,991
    Federal funds sold & reverse repurchase $385
    Net loans and leases $195,831
    Loan and leases loss allowance $2,619
    Trading account assets $0
    Bank premises and fixed assets $4,797
    Other real estate owned $0
    Goodwill and other intangibles $760
    All other assets $2,645

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $378,468
    Total Liabilities $339,761
    Total deposits $337,411
    Interest-bearing deposits $252,684
    Deposits held in domestic offices $337,411
    % insured (estimated) $81
    Federal funds purchased and repurchase agreements $844
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $1,506

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $195,831
    Loan and leases loss allowance $2,619
    Total loans and leases (domestic) $198,450
    All real estate loans $122,830
    Real estate loans in domestic offices $122,830
    Construction and development loans $6,959
    Residential 1-4 family construction $6,595
    Other construction, all land development and other land $364
    Loans secured by nonfarm nonresidential properties $51,917
    Nonfarm nonresidential secured by owner-occupied properties $23,382
    Commercial real estate & other non-farm, non-residential $28,535
    Multifamily residential real estate $1,041
    1-4 family residential loans $41,356
    Farmland loans $21,557
    Loans held in foreign offices $0
    Farm loans $5,061
    Commercial and industrial loans $31,325
    To non-U.S. addressees $0
    Loans to individuals $19,547
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $525
    Other loans to individuals $19,022
    All other loans & leases $19,818
    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 $311
    Non 1-4 family restructured loans & leases $311
    Total loans and leases (foreign) $0

    Farmers Savings Bank had $195,831,000 of loans outstanding in 2020. $122,830,000 of loans were in real estate loans. $6,959,000 of loans were in development loans. $1,041,000 of loans were in multifamily mortgage loans. $41,356,000 of loans were in 1-4 family mortgage loans. $5,061,000 of loans were in farm loans. $0 of loans were in credit card loans. $525,000 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 170 $32,383 $190,488
    Nonfarm, nonresidential loans - <$100k 39 $2,113 $54,179
    Nonfarm, nonresidential loans - $100-250k 67 $8,590 $128,209
    Nonfarm, nonresidential loans - $250k-1MM 64 $21,680 $338,750
    Commercial & Industrial, US addressed loans - <$1MM 385 $22,016 $57,184
    Commercial & Industrial, US addressed loans - <$100k 314 $7,333 $23,354
    Commercial & Industrial, US addressed loans - $100-250k 45 $5,827 $129,489
    Commercial & Industrial, US addressed loans - $250k-1MM 26 $8,856 $340,615
    Farmland loans - <$1MM 67 $12,078 $180,269
    Farmland loans - <$100k 12 $644 $53,667
    Farmland loans - $100-250k 27 $3,225 $119,444
    Farmland loans - $250k-1MM 28 $8,209 $293,179
    Agriculture operations loans - <$1MM 110 $4,066 $36,964
    Agriculture operations loans - <$100k 94 $2,116 $22,511
    Agriculture operations loans - $100-250k 15 $1,550 $103,333
    Agriculture operations loans - $250k-1MM 1 $400 $400,000