The Farmers And Merchants Bank Mortgage Rates, Fees & Info

Boswell, IN

LEI: 549300OHTBYVLLO8NW69

Tax ID: 35-0303200

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Mortgage Data

Bank Data

Review & Overview

The Farmers And Merchants Bank is a smaller bank specializing in Home Purchase loans. The Farmers And Merchants Bank has a high proportion of conventional loans. Their top markets by origination volume include: Lafayette, Frankfort, and Chicago among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

The Farmers And Merchants Bank has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders.

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Originations

36

Origination Dollar Volume (All Markets)

$5,110,000

Employee count

27

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
LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 30 $4,250,000 $141,667 $0 0.00%
Outside of Metro Areas 4 $500,000 $125,000 $0 0.00%
Frankfort, IN (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
The Farmers And Merchants Bank's top markets include Lafayette, Frankfort, and Chicago among others.

Their top states include:
  • Indiana (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 36 $5,110,000 $141,944 $0 0.00%

    For 2018, The Farmers And Merchants Bank's most frequently originated type of loan was Conventional, with 36 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 21 $3,145,000 $149,762 $0 0.00%
    Refi 7 $1,015,000 $145,000 $0 0.00%
    Home Improvement 3 $365,000 $121,667 $0 0.00%
    Other 3 $225,000 $75,000 $0 0.00%
    Cash Out Refi 2 $360,000 $180,000 $0 0.00%

    For 2018, The Farmers And Merchants Bank's most frequently cited loan purpose was Home Purchase, with 21 originations. The 2nd most popular reason was Refi, with 7 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 36 $5,110,000 $141,944 $0 0.00%

    For 2018, The Farmers And Merchants Bank's most frequently cited loan duration was Other, with 36 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 18 $880,000 $48,889 $0 0.00%
    $100k-200k 8 $1,120,000 $140,000 $0 0.00%
    $200k-400k 8 $1,920,000 $240,000 $0 0.00%
    $400k-600k 1 $525,000 $525,000 $0 0.00%
    $600k-1MM 1 $665,000 $665,000 $0 0.00%

    2018 saw The Farmers And Merchants Bank place emphasis on $100,000 or less loans with 18 originations, totaling $880,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 7 $975,000 $139,286 $0 0.00%
    $50k-75k 6 $610,000 $101,667 $0 0.00%
    $50k or less 5 $155,000 $31,000 $0 0.00%
    $150k-250k 3 $605,000 $201,667 $0 0.00%
    $75k-100k 3 $475,000 $158,333 $0 0.00%

    The Farmers And Merchants Bank lent most frequently to those with incomes in the $100k-150k range, with 7 originations. The second most popular income band? $50k-75k, with 6 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 36 $5,110,000 $141,944 $0 0.00%

    The Farmers And Merchants Bank lent most frequently to those with DTI ratios of Exempt%, with 36 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 24 $2,820,000 $117,500 $0 0.00%
    Not applicable 12 $2,290,000 $190,833 $0 0.00%

    Approval Rates

    Total approvals of all applications
    86.67%

    The Farmers And Merchants Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    91.67%

    The Farmers And Merchants Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 36 $5,110,000 $141,944

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $1,795,000 $359,000
    Single Family (1-4 Units):Site-Built 31 $3,315,000 $106,935

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    The Farmers and Merchants Bank 275 Sagamore Parkway W West Lafayette, IN 47906 Full Service B&M $9,708
    The Farmers and Merchants Bank 302 South Old Us Highway 41 Boswell, IN 47921 Full Service B&M $73,421
    The Farmers and Merchants Bank Highway 28 And State Road 263 West Lebanon, IN 47991 Full Service B&M $10,502
    The Farmers and Merchants Bank U.S. 52 And Maddox Road Otterbein, IN 47970 Full Service B&M $16,607

    For 2018, The Farmers And Merchants Bank had 4 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $4,796
    Net interest income $4,254
    Total noninterest income $489
    Gross Fiduciary activities income $3
    Service charges on deposit accounts $437
    Trading account gains and fees $0
    Additional Noninterest Income $49
    Pre-tax net operating income $1,250
    Securities gains (or losses, -) $0
    Income before extraordinary items $972
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $972
    Minority interest net income $0
    Net income $972
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $972

    The Farmers And Merchants Bank's gross interest income from loans was $4,796,000.
    The Farmers And Merchants Bank's net interest income from loans was $4,254,000.
    The Farmers And Merchants Bank's fee based income from loans was $437,000.
    The Farmers And Merchants Bank's net income from loans was $972,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $542
    Provision for credit losses $0
    Total noninterest expense $3,493
    Salaries and employee benefits $2,051
    Premises and equipment expense $354
    Additional noninterest expense $1,088
    Applicable income taxes $278
    Net charge-offs $126
    Cash dividends $532

    The Farmers And Merchants Bank's interest expense for loans was $542,000.
    The Farmers And Merchants Bank's payroll and benefits expense were $2,051,000.
    The Farmers And Merchants Bank's property, plant and equipment expenses $354,000.

    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 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $109,659
    Deposits held in domestic offices $109,659
    Deposits by Individuals, partnerships, and corporations $88,256
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $21,403
    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 $49,992
    Demand deposits $38,051
    Nontransaction accounts $59,667
    Money market deposit accounts (MMDAs) $18,442
    Other savings deposits (excluding MMDAs) $12,602
    Total time deposits $28,623
    Total time and savings deposits $71,608
    Noninterest-bearing deposits $18,194
    Interest-bearing deposits $91,465
    Retail deposits $98,153
    IRAs and Keogh plan accounts $4,484
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $125,388
    Cash & Balances due from depository institutions $8,096
    Interest-bearing balances $4,585
    Total securities $33,052
    Federal funds sold & reverse repurchase $3,013
    Net loans and leases $77,442
    Loan and leases loss allowance $1,297
    Trading account assets $0
    Bank premises and fixed assets $2,096
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $1,689

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $125,388
    Total Liabilities $111,340
    Total deposits $109,659
    Interest-bearing deposits $91,465
    Deposits held in domestic offices $109,659
    % insured (estimated) $78
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $1,500
    Subordinated debt $0
    All other liabilities $181

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $77,442
    Loan and leases loss allowance $1,297
    Total loans and leases (domestic) $78,739
    All real estate loans $54,994
    Real estate loans in domestic offices $54,994
    Construction and development loans $1,838
    Residential 1-4 family construction $1,474
    Other construction, all land development and other land $364
    Loans secured by nonfarm nonresidential properties $8,304
    Nonfarm nonresidential secured by owner-occupied properties $1,127
    Commercial real estate & other non-farm, non-residential $7,177
    Multifamily residential real estate $1,870
    1-4 family residential loans $25,242
    Farmland loans $17,740
    Loans held in foreign offices $0
    Farm loans $18,647
    Commercial and industrial loans $4,031
    To non-U.S. addressees $0
    Loans to individuals $993
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $738
    Other loans to individuals $255
    All other loans & leases $74
    Loans to foreign governments and official institutions $0
    Other loans $26
    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 $323
    Non 1-4 family restructured loans & leases $131
    Total loans and leases (foreign) $0

    The Farmers and Merchants Bank had $77,442,000 of loans outstanding in 2018. $54,994,000 of loans were in real estate loans. $1,838,000 of loans were in development loans. $1,870,000 of loans were in multifamily mortgage loans. $25,242,000 of loans were in 1-4 family mortgage loans. $18,647,000 of loans were in farm loans. $0 of loans were in credit card loans. $738,000 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 31 $4,269 $137,710
    Nonfarm, nonresidential loans - <$100k 13 $338 $26,000
    Nonfarm, nonresidential loans - $100-250k 9 $857 $95,222
    Nonfarm, nonresidential loans - $250k-1MM 9 $3,074 $341,556
    Commercial & Industrial, US addressed loans - <$1MM 64 $3,194 $49,906
    Commercial & Industrial, US addressed loans - <$100k 50 $1,159 $23,180
    Commercial & Industrial, US addressed loans - $100-250k 6 $495 $82,500
    Commercial & Industrial, US addressed loans - $250k-1MM 8 $1,540 $192,500
    Farmland loans - <$1MM 54 $7,907 $146,426
    Farmland loans - <$100k 16 $558 $34,875
    Farmland loans - $100-250k 21 $2,654 $126,381
    Farmland loans - $250k-1MM 17 $4,695 $276,176
    Agriculture operations loans - <$1MM 113 $10,724 $94,903
    Agriculture operations loans - <$100k 66 $1,837 $27,833
    Agriculture operations loans - $100-250k 27 $3,446 $127,630
    Agriculture operations loans - $250k-1MM 20 $5,441 $272,050