Farmers & Merchants Bank Mortgage Rates, Fees & Info

Lakeland, GA

LEI: 549300ELFWNRX6MLE444

Tax ID: 58-0239830

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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 & 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, Deltona, Thomasville, and Douglas among others. We have data for 9 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.

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    Originations

    275

    Origination Dollar Volume (All Markets)

    $30,905,000

    Employee count

    125

    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) 165 $21,745,000 $131,788 $0 0.00%
    Outside of Metro Areas 96 $7,110,000 $74,063 $0 0.00%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 3 $875,000 $291,667 $0 0.00%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $405,000 $405,000 $0 0.00%
    Thomasville, GA (FHA|USDA|VA) 2 $370,000 $185,000 $0 0.00%
    Douglas, GA (FHA|USDA|VA) 3 $125,000 $41,667 $0 0.00%
    Bainbridge, GA (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
    ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
    Waycross, GA (FHA|USDA|VA) 3 $35,000 $11,667 $0 0.00%
    Farmers & Merchants Bank's top markets include Valdosta, Atlanta, Deltona, Thomasville, and Douglas among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 275 $30,905,000 $112,382 $0 0.00%

    For 2021, Farmers & Merchants Bank's most frequently originated type of loan was Conventional, with 275 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 151 $18,795,000 $124,470 $0 0.00%
    Home Purchase 111 $11,415,000 $102,838 $0 0.00%
    Home Improvement 8 $330,000 $41,250 $0 0.00%
    Other 5 $365,000 $73,000 $0 0.00%

    For 2021, Farmers & Merchants Bank's most frequently cited loan purpose was Refi, with 151 originations. The 2nd most popular reason was Home Purchase, with 111 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 275 $30,905,000 $112,382 $0 0.00%

    For 2021, Farmers & Merchants Bank's most frequently cited loan duration was Other, with 275 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 192 $8,770,000 $45,677 $0 0.00%
    $100k-200k 48 $6,740,000 $140,417 $0 0.00%
    $200k-400k 20 $5,150,000 $257,500 $0 0.00%
    $400k-600k 9 $4,245,000 $471,667 $0 0.00%
    $600k-1MM 5 $4,075,000 $815,000 $0 0.00%
    $1MM+ 1 $1,925,000 $1,925,000 $0 0.00%

    2021 saw Farmers & Merchants Bank place emphasis on $100,000 or less loans with 192 originations, totaling $8,770,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 71 $4,755,000 $66,972 $0 0.00%
    $50k-75k 44 $3,060,000 $69,545 $0 0.00%
    $75k-100k 26 $2,090,000 $80,385 $0 0.00%
    $100k-150k 23 $2,655,000 $115,435 $0 0.00%
    $150k-250k 22 $1,820,000 $82,727 $0 0.00%
    $250k+ 17 $4,195,000 $246,765 $0 0.00%

    Farmers & Merchants Bank lent most frequently to those with incomes in the $50k or less range, with 71 originations. The second most popular income band? $50k-75k, with 44 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 275 $30,905,000 $112,382 $0 0.00%

    Farmers & Merchants Bank lent most frequently to those with DTI ratios of Exempt%, with 275 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 190 $17,790,000 $93,632 $0 0.00%
    Not applicable 59 $11,545,000 $195,678 $0 0.00%
    Black 25 $1,465,000 $58,600 $0 0.00%
    American Indian 1 $105,000 $105,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    94.36%

    Farmers & Merchants Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    90.55%

    Farmers & Merchants Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 275 $30,905,000 $112,382

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    275 $30,905,000 $112,382

    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 $109,633
    Farmers & Merchants Bank 2140 Old Covington Road Conyers, GA 30013 Full Service B&M $61,703
    Farmers & Merchants Bank 3303 Inner Perimeter Rd Valdosta, GA 31602 Full Service B&M $149,774
    Farmers & Merchants Bank 4 N Carter St Lakeland, GA 31635 Full Service B&M $115,922
    Farmers & Merchants Bank Northwest U.S. 84 And Lakeview Drive Homerville, GA 31634 Full Service B&M $122,832

    For 2021, Farmers & Merchants Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $24,981
    Net interest income $21,409
    Total noninterest income $1,090
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $927
    Trading account gains and fees $0
    Additional Noninterest Income $163
    Pre-tax net operating income $6,677
    Securities gains (or losses, -) $25
    Income before extraordinary items $4,976
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,976
    Minority interest net income $0
    Net income $4,976
    Sale, conversion, retirement of capital stock, net $360
    Net operating income $4,956

    Farmers & Merchants Bank's gross interest income from loans was $24,981,000.
    Farmers & Merchants Bank's net interest income from loans was $21,409,000.
    Farmers & Merchants Bank's fee based income from loans was $927,000.
    Farmers & Merchants Bank's net income from loans was $4,976,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,572
    Provision for credit losses $800
    Total noninterest expense $15,022
    Salaries and employee benefits $8,719
    Premises and equipment expense $1,227
    Additional noninterest expense $5,076
    Applicable income taxes $1,726
    Net charge-offs $1,623
    Cash dividends $0

    Farmers & Merchants Bank's interest expense for loans was $3,572,000.
    Farmers & Merchants Bank's payroll and benefits expense were $8,719,000.
    Farmers & Merchants Bank's property, plant and equipment expenses $1,227,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 2.0%
    Real Estate loans 2.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 3.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 2.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 1.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $575,155
    Deposits held in domestic offices $575,155
    Deposits by Individuals, partnerships, and corporations $505,989
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $69,165
    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 $230,536
    Demand deposits $230,536
    Nontransaction accounts $344,618
    Money market deposit accounts (MMDAs) $68,728
    Other savings deposits (excluding MMDAs) $44,356
    Total time deposits $231,535
    Total time and savings deposits $344,618
    Noninterest-bearing deposits $101,897
    Interest-bearing deposits $473,258
    Retail deposits $530,605
    IRAs and Keogh plan accounts $29,273
    Brokered deposits $2,825
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $620,149
    Cash & Balances due from depository institutions $130,169
    Interest-bearing balances $119,524
    Total securities $76,267
    Federal funds sold & reverse repurchase $0
    Net loans and leases $396,948
    Loan and leases loss allowance $5,724
    Trading account assets $0
    Bank premises and fixed assets $7,728
    Other real estate owned $569
    Goodwill and other intangibles $0
    All other assets $8,468

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $620,149
    Total Liabilities $575,832
    Total deposits $575,155
    Interest-bearing deposits $473,258
    Deposits held in domestic offices $575,155
    % insured (estimated) $79
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $117
    Subordinated debt $0
    All other liabilities $560

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $396,948
    Loan and leases loss allowance $5,724
    Total loans and leases (domestic) $402,672
    All real estate loans $291,996
    Real estate loans in domestic offices $291,996
    Construction and development loans $42,448
    Residential 1-4 family construction $11,506
    Other construction, all land development and other land $30,942
    Loans secured by nonfarm nonresidential properties $95,598
    Nonfarm nonresidential secured by owner-occupied properties $51,897
    Commercial real estate & other non-farm, non-residential $43,701
    Multifamily residential real estate $4,729
    1-4 family residential loans $89,450
    Farmland loans $59,771
    Loans held in foreign offices $0
    Farm loans $15,100
    Commercial and industrial loans $67,804
    To non-U.S. addressees $0
    Loans to individuals $26,565
    Credit card loans $2,473
    Related Plans $0
    Consumer Auto Loans $13,049
    Other loans to individuals $11,043
    All other loans & leases $1,207
    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 $212
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $1,409
    Non 1-4 family restructured loans & leases $44
    Total loans and leases (foreign) $0

    Farmers & Merchants Bank had $396,948,000 of loans outstanding in 2021. $291,996,000 of loans were in real estate loans. $42,448,000 of loans were in development loans. $4,729,000 of loans were in multifamily mortgage loans. $89,450,000 of loans were in 1-4 family mortgage loans. $15,100,000 of loans were in farm loans. $2,473,000 of loans were in credit card loans. $13,049,000 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 223 $40,263 $180,552
    Nonfarm, nonresidential loans - <$100k 84 $3,058 $36,405
    Nonfarm, nonresidential loans - $100-250k 71 $10,307 $145,169
    Nonfarm, nonresidential loans - $250k-1MM 68 $26,898 $395,559
    Commercial & Industrial, US addressed loans - <$1MM 999 $46,018 $46,064
    Commercial & Industrial, US addressed loans - <$100k 852 $18,493 $21,705
    Commercial & Industrial, US addressed loans - $100-250k 110 $13,825 $125,682
    Commercial & Industrial, US addressed loans - $250k-1MM 37 $13,700 $370,270
    Farmland loans - <$1MM 218 $24,957 $114,482
    Farmland loans - <$100k 120 $4,852 $40,433
    Farmland loans - $100-250k 55 $8,108 $147,418
    Farmland loans - $250k-1MM 43 $11,997 $279,000
    Agriculture operations loans - <$1MM 208 $10,669 $51,293
    Agriculture operations loans - <$100k 161 $4,142 $25,727
    Agriculture operations loans - $100-250k 34 $3,263 $95,971
    Agriculture operations loans - $250k-1MM 13 $3,264 $251,077