Farmers Bank & Trust Company Mortgage Rates, Fees & Info
Magnolia, ARLEI: 549300GKNMX0ZXKVPE54
Tax ID: 71-0054330
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Review & Overview
Farmers Bank & Trust Company is a smaller bank specializing in Home Purchase and Refi loans. Farmers Bank & Trust Company has a high proportion of conventional loans. They have a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Texarkana, Paris, Magnolia, Dallas, and Little Rock among others. We have data for 38 markets. (Some data included below & more in-depth data is available with an active subscription.)Farmers Bank & Trust Company 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. Farmers Bank & Trust Company is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
---|---|---|
30 Year Conventional Purchase | 6.54% | 3/19/23 |
30 Year Conventional Refi | 6.27% | 3/19/23 |
30 Year Cash-out Refi | 6.55% | 3/19/23 |
30 Year FHA Purchase | 6.98% | 3/19/23 |
30 Year VA Purchase | 5.91% | 3/19/23 |
30 Year VA Refi | 5.55% | 3/19/23 |
30 Year USDA Purchase | 6.66% | 3/19/23 |
15 Year Conventional Purchase | 6.00% | 3/19/23 |
15 Year Conventional Refi | 5.76% | 3/19/23 |
15 Year Cash-out Refi | 5.76% | 3/19/23 |
15 Year VA Refi | 5.17% | 3/19/23 |
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. |
Originations
823Origination Dollar Volume (All Markets)
$183,765,000Employee count
293 Show all (14) awardsRelative Rate
Farmers Bank & Trust Company's average 30 year fixed mortgage rate was
2.96%.
The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.
This yields a difference of -0.19%.
Relative Fees (Closing Costs)
Farmers Bank & Trust Company's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,792.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $4,750.
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 |
---|---|---|---|---|---|
TEXARKANA, TX-AR (FHA|USDA|VA) | 231 | $44,445,000 | $192,403 | $3,815 | 3.93% |
Paris, TX (FHA|USDA|VA) | 133 | $27,915,000 | $209,887 | $3,489 | 3.66% |
Magnolia, AR (FHA|USDA|VA) | 124 | $23,340,000 | $188,226 | $2,396 | 3.86% |
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 32 | $12,030,000 | $375,938 | $4,601 | 2.85% |
Outside of Metro Areas | 52 | $11,180,000 | $215,000 | $2,819 | 3.86% |
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 38 | $10,950,000 | $288,158 | $2,713 | 3.00% |
HOT SPRINGS, AR (FHA|USDA|VA) | 26 | $10,550,000 | $405,769 | $2,228 | 3.99% |
Camden, AR (FHA|USDA|VA) | 35 | $9,325,000 | $266,429 | $2,163 | 4.23% |
Hope, AR (FHA|USDA|VA) | 69 | $6,845,000 | $99,203 | $1,598 | 4.51% |
El Dorado, AR (FHA|USDA|VA) | 14 | $5,370,000 | $383,571 | $2,508 | 4.24% |
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 2 | $2,750,000 | $1,375,000 | $0 | 4.10% |
Granbury, TX (FHA|USDA|VA) | 1 | $2,325,000 | $2,325,000 | $0 | 4.00% |
Malvern, AR (FHA|USDA|VA) | 17 | $2,285,000 | $134,412 | $2,054 | 3.86% |
SHERMAN-DENISON, TX (FHA|USDA|VA) | 4 | $1,750,000 | $437,500 | $7,618 | 3.89% |
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 6 | $1,720,000 | $286,667 | $3,161 | 3.67% |
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 3 | $1,675,000 | $558,333 | $4,003 | 2.96% |
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 2 | $1,220,000 | $610,000 | $0 | 3.99% |
SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) | 3 | $1,115,000 | $371,667 | $4,821 | 4.21% |
Mount Pleasant, TX (FHA|USDA|VA) | 4 | $740,000 | $185,000 | $3,980 | 3.25% |
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 1 | $705,000 | $705,000 | $0 | 4.95% |
OCALA, FL (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $7,062 | 2.38% |
LONGVIEW, TX (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $6,683 | 3.25% |
MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $3,688 | 2.38% |
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $5,130 | 2.88% |
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $4,044 | 2.75% |
JONESBORO, AR (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $2,122 | 3.25% |
Minden, LA (FHA|USDA|VA) | 4 | $340,000 | $85,000 | $2,358 | 4.25% |
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $3,389 | 2.88% |
CORPUS CHRISTI, TX (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $0 | 4.75% |
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,946 | 2.49% |
Arkadelphia, AR (FHA|USDA|VA) | 3 | $285,000 | $95,000 | $1,668 | 4.17% |
Gainesville, TX (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 4.50% |
Bonham, TX (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $0 | 4.38% |
FORT SMITH, AR-OK (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,729 | 3.63% |
OKLAHOMA CITY, OK (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,446 | 2.99% |
Kerrville, TX (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $4,548 | 2.00% |
Ruston, LA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 4.50% |
Batesville, AR (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $1,889 | 5.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against Farmers Bank & Trust Company based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2021, Farmers Bank & Trust Company's most frequently originated type of loan was Conventional, with 762 originations. Their 2nd most popular type was USDA, with 29 originations.
Loan Reason
For 2021, Farmers Bank & Trust Company's most frequently cited loan purpose was Home Purchase, with 458 originations. The 2nd most popular reason was Refi, with 256 originations.
Loan Duration/Length
For 2021, Farmers Bank & Trust Company's most frequently cited loan duration was 30 Year, with 275 originations. The 2nd most popular length was Other, with 203 originations.
Origination Fees/Closing Costs
Farmers Bank & Trust Company's average total fees were $3,792, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 521 originations.
Interest Rates
During 2021, Farmers Bank & Trust Company's average interest rate for loans was 2.96%, while their most frequently originated rate bucket for loans was 4-5%, with 296 originations.
Loan Sizing
2021 saw Farmers Bank & Trust Company place emphasis on $100k-200k loans with 265 originations, totaling $39,135,000 in origination value.
Applicant Income
Farmers Bank & Trust Company lent most frequently to those with incomes in the $100k-150k range, with 148 originations. The second most popular income band? $50k-75k, with 131 originations.
Applicant Debt to Income Ratio
Farmers Bank & Trust Company lent most frequently to those with DTI ratios of 20-30%, with 166 originations. The next most common DTI ratio? 30-36%, with 135 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.74%
Farmers Bank & Trust Company has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination93.56%
Farmers Bank & Trust Company has an average pick rate.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
NA | 823 | $183,765,000 | $223,287 |
LTV Distribution
Bank Details
Branches
Bank Name | Branch | Branch Type | Deposits (000's) |
---|---|---|---|
Farmers Bank & Trust Company | 1102 Arkansas Blvd Texarkana, AR 71854 | Limited, Drive-thru | $34,637 |
Farmers Bank & Trust Company | 200 East Main Street Magnolia, AR 71753 | Full Service B&M | $410,583 |
Farmers Bank & Trust Company | 201 East Third Street Hope, AR 71801 | Full Service B&M | $135,070 |
Farmers Bank & Trust Company | 205 East Main Magnolia, AR 71753 | Limited, Drive-thru | $0 |
Farmers Bank & Trust Company | 2106 North Jackson Magnolia, AR 71753 | Limited, Drive-thru | $4,224 |
Farmers Bank & Trust Company | 217 E. Union St. Magnolia, AR 71753 | Limited, Trust Office | $0 |
Farmers Bank & Trust Company | 220 E Main Magnolia, AR 71753 | Limited, Administrative | $0 |
Farmers Bank & Trust Company | 222 Pine Street Magnolia, AR 71753 | Limited, Administrative | $0 |
Farmers Bank & Trust Company | 2900 St. Michael Drive Texarkana, TX 75503 | Full Service B&M | $251,140 |
Farmers Bank & Trust Company | 3345 Highway 5 North, Ste 100 Bryant, AR 72019 | Full Service B&M | $11,518 |
Farmers Bank & Trust Company | 3601 East 9th Street Texarkana, AR 71854 | Full Service B&M | $33,582 |
Farmers Bank & Trust Company | 416 North Mccoy Blvd New Boston, TX 75570 | Full Service B&M | $98,670 |
Farmers Bank & Trust Company | 419 West 1st Street Lewisville, AR 71845 | Limited, Drive-thru | $13,319 |
Farmers Bank & Trust Company | 521 East Page Malvern, AR 72104 | Full Service B&M | $68,082 |
Farmers Bank & Trust Company | 5461 Highway 371 Blevins, AR 71825 | Limited, Drive-thru | $10,226 |
Farmers Bank & Trust Company | 5600 Richmond Road Texarkana, TX 75503 | Full Service B&M | $53,034 |
Farmers Bank & Trust Company | 617 North Hervey Hope, AR 71801 | Limited, Drive-thru | $7,983 |
Farmers Bank & Trust Company | 750 North Preston Rd Prosper, TX 75078 | Full Service B&M | $160,502 |
Farmers Bank & Trust Company | East 2nd And Main Streets Prescott, AR 71857 | Full Service B&M | $60,171 |
Farmers Bank & Trust Company | 112 N. Hwy 229 Haskell, AR 72015 | Full Service B&M | $23,315 |
Farmers Bank & Trust Company | 1125 Fairview Road Camden, AR 71701 | Limited, Drive-thru | $12,003 |
Farmers Bank & Trust Company | 1128 East Main Magnolia, AR 71753 | Limited, Drive-thru | $2,062 |
Farmers Bank & Trust Company | 1140 Washington Street, N.W. Camden, AR 71701 | Limited, Drive-thru | $21,908 |
Farmers Bank & Trust Company | 116 Jefferson Street, S.W. Camden, AR 71701 | Full Service B&M | $166,088 |
Farmers Bank & Trust Company | 1375 Ne Loop 286 Paris, TX 75460 | Full Service B&M | $66,795 |
Farmers Bank & Trust Company | 15064 Highway 132 Taylor, AR 71861 | Limited, Drive-thru | $16,822 |
Farmers Bank & Trust Company | 1606 Hollensworth Street Magnolia, AR 71753 | Limited, Drive-thru | $39 |
Farmers Bank & Trust Company | 1929 Oliver Lancaster Blvd. Malvern, AR 72104 | Full Service B&M | $8,098 |
For 2021, Farmers Bank & Trust Company had 28 branches.
Yearly Performance Overview
Bank Income
Item | Value (in 000's) |
---|---|
Total interest income | $78,978 |
Net interest income | $70,839 |
Total noninterest income | $13,915 |
Gross Fiduciary activities income | $893 |
Service charges on deposit accounts | $4,524 |
Trading account gains and fees | $0 |
Additional Noninterest Income | $8,498 |
Pre-tax net operating income | $36,113 |
Securities gains (or losses, -) | $-111 |
Income before extraordinary items | $28,568 |
Discontinued Operations (Extraordinary gains, net) | $0 |
Net income of bank and minority interests | $28,568 |
Minority interest net income | $0 |
Net income | $28,568 |
Sale, conversion, retirement of capital stock, net | $0 |
Net operating income | $28,655 |
Farmers Bank & Trust Company's gross interest income from loans was $78,978,000.
Farmers Bank & Trust Company's net interest income from loans was $70,839,000.
Farmers Bank & Trust Company's fee based income from loans was $4,524,000.
Farmers Bank & Trust Company's net income from loans was $28,568,000.
Bank Expenses
Item | Value (in 000's) |
---|---|
Total interest expense | $8,139 |
Provision for credit losses | $4,400 |
Total noninterest expense | $44,241 |
Salaries and employee benefits | $24,189 |
Premises and equipment expense | $5,492 |
Additional noninterest expense | $14,560 |
Applicable income taxes | $7,434 |
Net charge-offs | $2,859 |
Cash dividends | $6,000 |
Farmers Bank & Trust Company's interest expense for loans was $8,139,000.
Farmers Bank & Trust Company's payroll and benefits expense were $24,189,000.
Farmers Bank & Trust Company's property, plant and equipment expenses $5,492,000.
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 | 1.0% |
Personal loans | 0.0% |
Credit card loans | 0.6% |
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 | $1,834,435 |
Deposits held in domestic offices | $1,834,435 |
Deposits by Individuals, partnerships, and corporations | $1,249,716 |
Deposits by U.S. Government | $0 |
Deposits by States and political subdivisions in the U.S. | $584,719 |
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 | $744,287 |
Demand deposits | $445,452 |
Nontransaction accounts | $1,090,148 |
Money market deposit accounts (MMDAs) | $497,104 |
Other savings deposits (excluding MMDAs) | $114,721 |
Total time deposits | $478,324 |
Total time and savings deposits | $1,388,983 |
Noninterest-bearing deposits | $380,168 |
Interest-bearing deposits | $1,454,267 |
Retail deposits | $1,618,913 |
IRAs and Keogh plan accounts | $44,101 |
Brokered deposits | $8,407 |
Deposits held in foreign offices | $0 |
Assets
Asset | Value (in 000's) |
---|---|
Total Assets | $2,106,370 |
Cash & Balances due from depository institutions | $53,112 |
Interest-bearing balances | $26,413 |
Total securities | $519,850 |
Federal funds sold & reverse repurchase | $0 |
Net loans and leases | $1,411,146 |
Loan and leases loss allowance | $24,402 |
Trading account assets | $0 |
Bank premises and fixed assets | $40,593 |
Other real estate owned | $47 |
Goodwill and other intangibles | $24,299 |
All other assets | $57,323 |
Liabilities
Liabilities | Value (in 000's) |
---|---|
Total liabilities and capital | $2,106,370 |
Total Liabilities | $1,895,897 |
Total deposits | $1,834,435 |
Interest-bearing deposits | $1,454,267 |
Deposits held in domestic offices | $1,834,435 |
% insured (estimated) | $90 |
Federal funds purchased and repurchase agreements | $0 |
Trading liabilities | $0 |
Other borrowed funds | $46,300 |
Subordinated debt | $0 |
All other liabilities | $15,162 |
Issued Loan Types
Type | Value (in 000's) |
---|---|
Net loans and leases | $1,411,146 |
Loan and leases loss allowance | $24,402 |
Total loans and leases (domestic) | $1,435,548 |
All real estate loans | $1,131,798 |
Real estate loans in domestic offices | $1,131,798 |
Construction and development loans | $175,870 |
Residential 1-4 family construction | $21,801 |
Other construction, all land development and other land | $154,069 |
Loans secured by nonfarm nonresidential properties | $569,142 |
Nonfarm nonresidential secured by owner-occupied properties | $193,730 |
Commercial real estate & other non-farm, non-residential | $375,412 |
Multifamily residential real estate | $27,152 |
1-4 family residential loans | $274,920 |
Farmland loans | $84,714 |
Loans held in foreign offices | $0 |
Farm loans | $17,994 |
Commercial and industrial loans | $257,421 |
To non-U.S. addressees | $0 |
Loans to individuals | $23,162 |
Credit card loans | $1,867 |
Related Plans | $0 |
Consumer Auto Loans | $6,942 |
Other loans to individuals | $14,353 |
All other loans & leases | $5,173 |
Loans to foreign governments and official institutions | $0 |
Other loans | $579 |
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 | $41 |
Non 1-4 family restructured loans & leases | $0 |
Total loans and leases (foreign) | $0 |
Farmers Bank & Trust Company had $1,411,146,000 of loans outstanding in 2021. $1,131,798,000 of loans were in real estate loans. $175,870,000 of loans were in development loans. $27,152,000 of loans were in multifamily mortgage loans. $274,920,000 of loans were in 1-4 family mortgage loans. $17,994,000 of loans were in farm loans. $1,867,000 of loans were in credit card loans. $6,942,000 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 | 490 | $86,811 | $177,165 |
Nonfarm, nonresidential loans - <$100k | 157 | $6,170 | $39,299 |
Nonfarm, nonresidential loans - $100-250k | 153 | $18,066 | $118,078 |
Nonfarm, nonresidential loans - $250k-1MM | 180 | $62,575 | $347,639 |
Commercial & Industrial, US addressed loans - <$1MM | 2,438 | $140,937 | $57,808 |
Commercial & Industrial, US addressed loans - <$100k | 1,851 | $41,221 | $22,270 |
Commercial & Industrial, US addressed loans - $100-250k | 395 | $38,179 | $96,656 |
Commercial & Industrial, US addressed loans - $250k-1MM | 192 | $61,537 | $320,505 |
Farmland loans - <$1MM | 266 | $24,250 | $91,165 |
Farmland loans - <$100k | 155 | $5,462 | $35,239 |
Farmland loans - $100-250k | 76 | $9,017 | $118,645 |
Farmland loans - $250k-1MM | 35 | $9,771 | $279,171 |
Agriculture operations loans - <$1MM | 246 | $8,414 | $34,203 |
Agriculture operations loans - <$100k | 218 | $4,153 | $19,050 |
Agriculture operations loans - $100-250k | 19 | $2,067 | $108,789 |
Agriculture operations loans - $250k-1MM | 9 | $2,194 | $243,778 |