Farmers And Merchants Bank Mortgage Rates, Fees & Info

Milford, NE

LEI: 549300NQ6JHMRWQ5IH65

Tax ID: 47-0369814

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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 And Merchants Bank is a smaller bank specializing in Refi, Home Purchase, and Cash Out Refi loans. Farmers And Merchants Bank has a high proportion of conventional loans. Their top markets by origination volume include: Lincoln, Kearney, Omaha, North Platte, and Fort Collins among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Farmers And Merchants Bank has an 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

    70

    Origination Dollar Volume (All Markets)

    $9,520,000

    Employee count

    82

    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
    LINCOLN, NE (FHA|USDA|VA) 28 $5,190,000 $185,357 $0 0.00%
    Kearney, NE (FHA|USDA|VA) 12 $1,360,000 $113,333 $0 0.00%
    Outside of Metro Areas 16 $900,000 $56,250 $0 0.00%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 9 $855,000 $95,000 $0 0.00%
    North Platte, NE (FHA|USDA|VA) 1 $495,000 $495,000 $0 0.00%
    FORT COLLINS, CO (FHA|USDA|VA) 1 $455,000 $455,000 $0 0.00%
    Beatrice, NE (FHA|USDA|VA) 2 $140,000 $70,000 $0 0.00%
    Lexington, NE (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
    Farmers And Merchants Bank's top markets include Lincoln, Kearney, Omaha, North Platte, and Fort Collins among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 70 $9,520,000 $136,000 $0 0.00%

    For 2019, Farmers And Merchants Bank's most frequently originated type of loan was Conventional, with 70 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 27 $4,555,000 $168,704 $0 0.00%
    Home Purchase 22 $2,330,000 $105,909 $0 0.00%
    Cash Out Refi 16 $2,500,000 $156,250 $0 0.00%
    Home Improvement 5 $135,000 $27,000 $0 0.00%

    For 2019, Farmers And Merchants Bank's most frequently cited loan purpose was Refi, with 27 originations. The 2nd most popular reason was Home Purchase, with 22 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 70 $9,520,000 $136,000 $0 0.00%

    For 2019, Farmers And Merchants Bank's most frequently cited loan duration was Other, with 70 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 40 $1,770,000 $44,250 $0 0.00%
    $100k-200k 21 $2,895,000 $137,857 $0 0.00%
    $200k-400k 5 $1,555,000 $311,000 $0 0.00%
    $400k-600k 2 $950,000 $475,000 $0 0.00%
    $1MM+ 1 $1,455,000 $1,455,000 $0 0.00%
    $600k-1MM 1 $895,000 $895,000 $0 0.00%

    2019 saw Farmers And Merchants Bank place emphasis on $100,000 or less loans with 40 originations, totaling $1,770,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 22 $2,890,000 $131,364 $0 0.00%
    $50k-75k 10 $930,000 $93,000 $0 0.00%
    $100k-150k 7 $745,000 $106,429 $0 0.00%
    $75k-100k 5 $545,000 $109,000 $0 0.00%
    $150k-250k 4 $640,000 $160,000 $0 0.00%
    $250k+ 2 $550,000 $275,000 $0 0.00%

    Farmers And Merchants Bank lent most frequently to those with incomes in the $50k or less range, with 22 originations. The second most popular income band? $50k-75k, with 10 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 70 $9,520,000 $136,000 $0 0.00%

    Farmers And Merchants Bank lent most frequently to those with DTI ratios of Exempt%, with 70 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 56 $6,490,000 $115,893 $0 0.00%
    Not applicable 11 $2,725,000 $247,727 $0 0.00%
    Asian 2 $250,000 $125,000 $0 0.00%
    Not provided 1 $55,000 $55,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    86.14%

    Farmers And Merchants Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    75.71%

    Farmers And Merchants Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 70 $9,520,000 $136,000

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $160,000 $80,000
    Single Family (1-4 Units):Manufactured 1 $25,000 $25,000
    Single Family (1-4 Units):Site-Built 67 $9,335,000 $139,328

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Farmers and Merchants Bank 101 S Calvert St Lawrence, NE 68957 Full Service B&M $12,187
    Farmers and Merchants Bank 201 Eldora Avenue Weeping Water, NE 68463 Full Service B&M $19,297
    Farmers and Merchants Bank 202 Locust Street Panama, NE 68419 Full Service B&M $10,217
    Farmers and Merchants Bank 301 Nemaha Street Firth, NE 68358 Full Service B&M $4,719
    Farmers and Merchants Bank 3015 2nd Avenue Kearney, NE 68847 Full Service B&M $65,962
    Farmers and Merchants Bank 321 South Main Wilber, NE 68465 Full Service B&M $23,793
    Farmers and Merchants Bank 347 C Street Palmyra, NE 68418 Full Service B&M $10,916
    Farmers and Merchants Bank 355 North Central Superior, NE 68978 Full Service B&M $24,658
    Farmers and Merchants Bank 617 First Street Milford, NE 68405 Full Service B&M $287,621
    Farmers and Merchants Bank 900 Dimery Street Beaver Crossing, NE 68313 Full Service B&M $12,580
    Farmers and Merchants Bank Broad And Elm Streets Jansen, NE 68377 Full Service B&M $6,615

    For 2019, Farmers And Merchants Bank had 11 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $26,281
    Net interest income $15,907
    Total noninterest income $1,355
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $364
    Trading account gains and fees $0
    Additional Noninterest Income $991
    Pre-tax net operating income $7,275
    Securities gains (or losses, -) $1,758
    Income before extraordinary items $8,499
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $8,499
    Minority interest net income $0
    Net income $8,499
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $6,846

    Farmers And Merchants Bank's gross interest income from loans was $26,281,000.
    Farmers And Merchants Bank's net interest income from loans was $15,907,000.
    Farmers And Merchants Bank's fee based income from loans was $364,000.
    Farmers And Merchants Bank's net income from loans was $8,499,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $10,374
    Provision for credit losses $7
    Total noninterest expense $9,980
    Salaries and employee benefits $6,283
    Premises and equipment expense $554
    Additional noninterest expense $3,143
    Applicable income taxes $534
    Net charge-offs $777
    Cash dividends $0

    Farmers And Merchants Bank's interest expense for loans was $10,374,000.
    Farmers And Merchants Bank's payroll and benefits expense were $6,283,000.
    Farmers And Merchants Bank's property, plant and equipment expenses $554,000.

    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 2.0%
    Credit card loans 0.0%
    Other individual loans 2.0%
    Auto loans 0.0%
    Other consumer loans 2.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $559,806
    Deposits held in domestic offices $559,806
    Deposits by Individuals, partnerships, and corporations $528,564
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $31,242
    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 $60,527
    Demand deposits $37,789
    Nontransaction accounts $499,279
    Money market deposit accounts (MMDAs) $175,600
    Other savings deposits (excluding MMDAs) $210,225
    Total time deposits $113,453
    Total time and savings deposits $522,017
    Noninterest-bearing deposits $6,845
    Interest-bearing deposits $552,961
    Retail deposits $259,669
    IRAs and Keogh plan accounts $29,357
    Brokered deposits $308,231
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $722,070
    Cash & Balances due from depository institutions $79,415
    Interest-bearing balances $71,974
    Total securities $362,624
    Federal funds sold & reverse repurchase $8
    Net loans and leases $240,374
    Loan and leases loss allowance $1,062
    Trading account assets $0
    Bank premises and fixed assets $2,751
    Other real estate owned $0
    Goodwill and other intangibles $12,298
    All other assets $24,600

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $722,070
    Total Liabilities $641,696
    Total deposits $559,806
    Interest-bearing deposits $552,961
    Deposits held in domestic offices $559,806
    % insured (estimated) $91
    Federal funds purchased and repurchase agreements $458
    Trading liabilities $0
    Other borrowed funds $67,644
    Subordinated debt $0
    All other liabilities $13,788

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $240,374
    Loan and leases loss allowance $1,062
    Total loans and leases (domestic) $241,436
    All real estate loans $140,877
    Real estate loans in domestic offices $140,877
    Construction and development loans $5,381
    Residential 1-4 family construction $3,618
    Other construction, all land development and other land $1,763
    Loans secured by nonfarm nonresidential properties $18,264
    Nonfarm nonresidential secured by owner-occupied properties $11,319
    Commercial real estate & other non-farm, non-residential $6,945
    Multifamily residential real estate $7,443
    1-4 family residential loans $30,822
    Farmland loans $78,967
    Loans held in foreign offices $0
    Farm loans $54,381
    Commercial and industrial loans $13,442
    To non-U.S. addressees $0
    Loans to individuals $26,248
    Credit card loans $0
    Related Plans $80
    Consumer Auto Loans $1,785
    Other loans to individuals $24,383
    All other loans & leases $6,488
    Loans to foreign governments and official institutions $0
    Other loans $332
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Farmers and Merchants Bank had $240,374,000 of loans outstanding in 2019. $140,877,000 of loans were in real estate loans. $5,381,000 of loans were in development loans. $7,443,000 of loans were in multifamily mortgage loans. $30,822,000 of loans were in 1-4 family mortgage loans. $54,381,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,785,000 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 85 $10,907 $128,318
    Nonfarm, nonresidential loans - <$100k 42 $1,335 $31,786
    Nonfarm, nonresidential loans - $100-250k 23 $3,068 $133,391
    Nonfarm, nonresidential loans - $250k-1MM 20 $6,504 $325,200
    Commercial & Industrial, US addressed loans - <$1MM 207 $9,348 $45,159
    Commercial & Industrial, US addressed loans - <$100k 161 $3,263 $20,267
    Commercial & Industrial, US addressed loans - $100-250k 31 $2,426 $78,258
    Commercial & Industrial, US addressed loans - $250k-1MM 15 $3,659 $243,933
    Farmland loans - <$1MM 195 $28,567 $146,497
    Farmland loans - <$100k 61 $2,209 $36,213
    Farmland loans - $100-250k 74 $8,794 $118,838
    Farmland loans - $250k-1MM 60 $17,564 $292,733
    Agriculture operations loans - <$1MM 382 $21,550 $56,414
    Agriculture operations loans - <$100k 266 $6,241 $23,462
    Agriculture operations loans - $100-250k 77 $7,967 $103,468
    Agriculture operations loans - $250k-1MM 39 $7,342 $188,256