Farmers & Merchants Bank Mortgage Rates, Fees & Info

Lakeland, GA

LEI: 549300ELFWNRX6MLE444

Tax ID: 58-0239830

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

Jump to:

Mortgage Data

Bank Data

Review & Overview

Farmers & Merchants Bank is a smaller bank specializing in Refi and Home Purchase loans. Farmers & Merchants Bank has a high proportion of conventional loans. Their top markets by origination volume include: Valdosta, Atlanta, Thomasville, Brunswick, and Waycross among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)

Farmers & Merchants Bank has an above average approval rate when compared to the average across all lenders. They have an above 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.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


Originations

324

Origination Dollar Volume (All Markets)

$35,780,000

Employee count

120

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
VALDOSTA, GA (FHA|USDA|VA) 180 $23,340,000 $129,667 $0 0.00%
Outside of Metro Areas 106 $7,020,000 $66,226 $0 0.00%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 11 $2,205,000 $200,455 $0 0.00%
Thomasville, GA (FHA|USDA|VA) 6 $530,000 $88,333 $0 0.00%
BRUNSWICK, GA (FHA|USDA|VA) 2 $480,000 $240,000 $0 0.00%
Waycross, GA (FHA|USDA|VA) 5 $415,000 $83,000 $0 0.00%
TALLAHASSEE, FL (FHA|USDA|VA) 1 $395,000 $395,000 $0 0.00%
Seneca, SC (FHA|USDA|VA) 1 $375,000 $375,000 $0 0.00%
GAINESVILLE, FL (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
Douglas, GA (FHA|USDA|VA) 3 $205,000 $68,333 $0 0.00%
ALBANY, GA (FHA|USDA|VA) 3 $185,000 $61,667 $0 0.00%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
Americus, GA (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 2 $70,000 $35,000 $0 0.00%
Tifton, GA (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
Farmers & Merchants Bank's top markets include Valdosta, Atlanta, Thomasville, Brunswick, and Waycross among others.

Their top states include:
  • Georgia (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 324 $35,780,000 $110,432 $0 0.00%

    For 2020, Farmers & Merchants Bank's most frequently originated type of loan was Conventional, with 324 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 199 $25,095,000 $126,106 $0 0.00%
    Home Purchase 99 $9,645,000 $97,424 $0 0.00%
    Home Improvement 16 $660,000 $41,250 $0 0.00%
    Other 10 $380,000 $38,000 $0 0.00%

    For 2020, Farmers & Merchants Bank's most frequently cited loan purpose was Refi, with 199 originations. The 2nd most popular reason was Home Purchase, with 99 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 324 $35,780,000 $110,432 $0 0.00%

    For 2020, Farmers & Merchants Bank's most frequently cited loan duration was Other, with 324 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 222 $9,860,000 $44,414 $0 0.00%
    $100k-200k 60 $8,150,000 $135,833 $0 0.00%
    $200k-400k 30 $8,650,000 $288,333 $0 0.00%
    $400k-600k 8 $3,850,000 $481,250 $0 0.00%
    $1MM+ 3 $4,535,000 $1,511,667 $0 0.00%
    $600k-1MM 1 $735,000 $735,000 $0 0.00%

    2020 saw Farmers & Merchants Bank place emphasis on $100,000 or less loans with 222 originations, totaling $9,860,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 85 $4,235,000 $49,824 $0 0.00%
    $50k-75k 53 $4,855,000 $91,604 $0 0.00%
    $75k-100k 27 $1,925,000 $71,296 $0 0.00%
    $150k-250k 23 $3,065,000 $133,261 $0 0.00%
    $100k-150k 21 $3,365,000 $160,238 $0 0.00%
    $250k+ 21 $2,975,000 $141,667 $0 0.00%

    Farmers & Merchants Bank lent most frequently to those with incomes in the $50k or less range, with 85 originations. The second most popular income band? $50k-75k, with 53 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 324 $35,780,000 $110,432 $0 0.00%

    Farmers & Merchants Bank lent most frequently to those with DTI ratios of Exempt%, with 324 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 219 $19,585,000 $89,429 $0 0.00%
    Not applicable 78 $14,380,000 $184,359 $0 0.00%
    Black 27 $1,815,000 $67,222 $0 0.00%

    Approval Rates

    Total approvals of all applications
    94.61%

    Farmers & Merchants Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    91.67%

    Farmers & Merchants Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 324 $35,780,000 $110,432

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 4 $1,320,000 $330,000
    Multifamily:Site-Built 7 $4,345,000 $620,714
    Single Family (1-4 Units):Manufactured 72 $3,360,000 $46,667
    Single Family (1-4 Units):Site-Built 241 $26,755,000 $111,017

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Farmers & Merchants Bank 1201 South Patterson Valdosta, GA 31601 Limited, Drive-thru $0
    Farmers & Merchants Bank 202 West Washington Avenue Nashville, GA 31639 Full Service B&M $101,210
    Farmers & Merchants Bank 2140 Old Covington Road Conyers, GA 30013 Full Service B&M $59,197
    Farmers & Merchants Bank 3303 Inner Perimeter Rd Valdosta, GA 31602 Full Service B&M $145,239
    Farmers & Merchants Bank 4 N Carter St Lakeland, GA 31635 Full Service B&M $110,320
    Farmers & Merchants Bank Northwest U.S. 84 And Lakeview Drive Homerville, GA 31634 Full Service B&M $117,836

    For 2020, Farmers & Merchants Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $24,741
    Net interest income $18,408
    Total noninterest income $805
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $851
    Trading account gains and fees $0
    Additional Noninterest Income $-46
    Pre-tax net operating income $1,826
    Securities gains (or losses, -) $283
    Income before extraordinary items $1,595
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,595
    Minority interest net income $0
    Net income $1,595
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,371

    Farmers & Merchants Bank's gross interest income from loans was $24,741,000.
    Farmers & Merchants Bank's net interest income from loans was $18,408,000.
    Farmers & Merchants Bank's fee based income from loans was $851,000.
    Farmers & Merchants Bank's net income from loans was $1,595,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $6,333
    Provision for credit losses $2,940
    Total noninterest expense $14,447
    Salaries and employee benefits $7,967
    Premises and equipment expense $1,252
    Additional noninterest expense $5,228
    Applicable income taxes $514
    Net charge-offs $1,870
    Cash dividends $0

    Farmers & Merchants Bank's interest expense for loans was $6,333,000.
    Farmers & Merchants Bank's payroll and benefits expense were $7,967,000.
    Farmers & Merchants Bank's property, plant and equipment expenses $1,252,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 3.0%
    Real Estate loans 3.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 4.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 3.0%
    Personal loans 1.0%
    Credit card loans 0.5%
    Other individual loans 1.0%
    Auto loans 1.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $549,449
    Deposits held in domestic offices $549,449
    Deposits by Individuals, partnerships, and corporations $493,846
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $55,603
    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 $192,445
    Demand deposits $192,445
    Nontransaction accounts $357,004
    Money market deposit accounts (MMDAs) $64,571
    Other savings deposits (excluding MMDAs) $36,178
    Total time deposits $256,256
    Total time and savings deposits $357,004
    Noninterest-bearing deposits $90,101
    Interest-bearing deposits $459,348
    Retail deposits $489,392
    IRAs and Keogh plan accounts $31,345
    Brokered deposits $8,165
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $611,828
    Cash & Balances due from depository institutions $133,780
    Interest-bearing balances $123,376
    Total securities $74,702
    Federal funds sold & reverse repurchase $0
    Net loans and leases $378,611
    Loan and leases loss allowance $6,547
    Trading account assets $0
    Bank premises and fixed assets $7,566
    Other real estate owned $6,579
    Goodwill and other intangibles $0
    All other assets $10,590

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $611,828
    Total Liabilities $577,061
    Total deposits $549,449
    Interest-bearing deposits $459,348
    Deposits held in domestic offices $549,449
    % insured (estimated) $81
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $26,250
    Subordinated debt $0
    All other liabilities $1,362

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $378,611
    Loan and leases loss allowance $6,547
    Total loans and leases (domestic) $385,158
    All real estate loans $269,209
    Real estate loans in domestic offices $269,209
    Construction and development loans $30,288
    Residential 1-4 family construction $6,727
    Other construction, all land development and other land $23,561
    Loans secured by nonfarm nonresidential properties $72,697
    Nonfarm nonresidential secured by owner-occupied properties $45,647
    Commercial real estate & other non-farm, non-residential $27,050
    Multifamily residential real estate $4,112
    1-4 family residential loans $94,633
    Farmland loans $67,479
    Loans held in foreign offices $0
    Farm loans $16,061
    Commercial and industrial loans $71,259
    To non-U.S. addressees $0
    Loans to individuals $25,836
    Credit card loans $2,336
    Related Plans $0
    Consumer Auto Loans $12,807
    Other loans to individuals $10,693
    All other loans & leases $2,793
    Loans to foreign governments and official institutions $0
    Other loans $0
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $277
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $3,242
    Non 1-4 family restructured loans & leases $1,462
    Total loans and leases (foreign) $0

    Farmers & Merchants Bank had $378,611,000 of loans outstanding in 2020. $269,209,000 of loans were in real estate loans. $30,288,000 of loans were in development loans. $4,112,000 of loans were in multifamily mortgage loans. $94,633,000 of loans were in 1-4 family mortgage loans. $16,061,000 of loans were in farm loans. $2,336,000 of loans were in credit card loans. $12,807,000 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 241 $38,711 $160,627
    Nonfarm, nonresidential loans - <$100k 100 $3,395 $33,950
    Nonfarm, nonresidential loans - $100-250k 74 $10,244 $138,432
    Nonfarm, nonresidential loans - $250k-1MM 67 $25,072 $374,209
    Commercial & Industrial, US addressed loans - <$1MM 1,185 $55,884 $47,159
    Commercial & Industrial, US addressed loans - <$100k 1,017 $23,222 $22,834
    Commercial & Industrial, US addressed loans - $100-250k 121 $14,853 $122,752
    Commercial & Industrial, US addressed loans - $250k-1MM 47 $17,809 $378,915
    Farmland loans - <$1MM 236 $26,248 $111,220
    Farmland loans - <$100k 137 $5,395 $39,380
    Farmland loans - $100-250k 56 $8,091 $144,482
    Farmland loans - $250k-1MM 43 $12,762 $296,791
    Agriculture operations loans - <$1MM 201 $9,800 $48,756
    Agriculture operations loans - <$100k 159 $3,609 $22,698
    Agriculture operations loans - $100-250k 31 $3,149 $101,581
    Agriculture operations loans - $250k-1MM 11 $3,042 $276,545