The Farmers And Merchants Bank Mortgage Rates, Fees & Info

Boswell, IN

LEI: 549300OHTBYVLLO8NW69

Tax ID: 35-0303200

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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

    The Farmers And Merchants Bank is a smaller bank specializing in Refi and Cash Out Refi loans. The Farmers And Merchants Bank has a high proportion of conventional loans. Their top markets by origination volume include: Lafayette, Indianapolis, Chicago, Frankfort, and Terre Haute among others. We have data for 8 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 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

    239

    Origination Dollar Volume (All Markets)

    $46,065,000

    Employee count

    31

    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) 195 $38,245,000 $196,128 $0 0.00%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 15 $2,925,000 $195,000 $0 0.00%
    Outside of Metro Areas 16 $2,750,000 $171,875 $0 0.00%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 6 $1,200,000 $200,000 $0 0.00%
    Frankfort, IN (FHA|USDA|VA) 3 $445,000 $148,333 $0 0.00%
    TERRE HAUTE, IN (FHA|USDA|VA) 2 $310,000 $155,000 $0 0.00%
    Wabash, IN (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
    FORT WAYNE, IN (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
    The Farmers And Merchants Bank's top markets include Lafayette, Indianapolis, Chicago, Frankfort, and Terre Haute among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 239 $46,065,000 $192,741 $0 0.00%

    For 2020, The Farmers And Merchants Bank's most frequently originated type of loan was Conventional, with 239 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 137 $28,035,000 $204,635 $0 0.00%
    Cash Out Refi 56 $9,370,000 $167,321 $0 0.00%
    Home Purchase 44 $8,480,000 $192,727 $0 0.00%
    Other 2 $180,000 $90,000 $0 0.00%

    For 2020, The Farmers And Merchants Bank's most frequently cited loan purpose was Refi, with 137 originations. The 2nd most popular reason was Cash Out Refi, with 56 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 239 $46,065,000 $192,741 $0 0.00%

    For 2020, The Farmers And Merchants Bank's most frequently cited loan duration was Other, with 239 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 118 $17,610,000 $149,237 $0 0.00%
    $200k-400k 71 $18,625,000 $262,324 $0 0.00%
    $100,000 or less 40 $2,610,000 $65,250 $0 0.00%
    $400k-600k 6 $2,830,000 $471,667 $0 0.00%
    $1MM+ 2 $3,100,000 $1,550,000 $0 0.00%
    $600k-1MM 2 $1,290,000 $645,000 $0 0.00%

    2020 saw The Farmers And Merchants Bank place emphasis on $100k-200k loans with 118 originations, totaling $17,610,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 71 $14,595,000 $205,563 $0 0.00%
    $50k-75k 54 $7,630,000 $141,296 $0 0.00%
    $75k-100k 37 $6,505,000 $175,811 $0 0.00%
    $50k or less 25 $2,795,000 $111,800 $0 0.00%
    $150k-250k 21 $5,075,000 $241,667 $0 0.00%
    $250k+ 8 $1,690,000 $211,250 $0 0.00%

    The Farmers And Merchants Bank lent most frequently to those with incomes in the $100k-150k range, with 71 originations. The second most popular income band? $50k-75k, with 54 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 239 $46,065,000 $192,741 $0 0.00%

    The Farmers And Merchants Bank lent most frequently to those with DTI ratios of Exempt%, with 239 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 213 $38,425,000 $180,399 $0 0.00%
    Not applicable 14 $5,900,000 $421,429 $0 0.00%
    Not provided 11 $1,635,000 $148,636 $0 0.00%
    Asian 1 $105,000 $105,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    84.23%

    The Farmers And Merchants Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    89.12%

    The Farmers And Merchants Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 239 $46,065,000 $192,741

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $4,070,000 $1,017,500
    Single Family (1-4 Units):Manufactured 2 $220,000 $110,000
    Single Family (1-4 Units):Site-Built 233 $41,775,000 $179,292

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    The Farmers and Merchants Bank 2 N 4th Street Lafayette, IN 47901 Full Service B&M $1,217
    The Farmers and Merchants Bank 275 Sagamore Parkway W West Lafayette, IN 47906 Full Service B&M $12,835
    The Farmers and Merchants Bank 302 South Old Us Highway 41 Boswell, IN 47921 Full Service B&M $69,569
    The Farmers and Merchants Bank 868 State Road 28 E Williamsport, IN 47993 Full Service B&M $14,793
    The Farmers and Merchants Bank U.S. 52 And Maddox Road Otterbein, IN 47970 Full Service B&M $23,404

    For 2020, The Farmers And Merchants Bank had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $4,765
    Net interest income $4,189
    Total noninterest income $1,529
    Gross Fiduciary activities income $3
    Service charges on deposit accounts $453
    Trading account gains and fees $0
    Additional Noninterest Income $1,073
    Pre-tax net operating income $1,453
    Securities gains (or losses, -) $4
    Income before extraordinary items $1,120
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,120
    Minority interest net income $0
    Net income $1,120
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,116

    The Farmers And Merchants Bank's gross interest income from loans was $4,765,000.
    The Farmers And Merchants Bank's net interest income from loans was $4,189,000.
    The Farmers And Merchants Bank's fee based income from loans was $453,000.
    The Farmers And Merchants Bank's net income from loans was $1,120,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $576
    Provision for credit losses $40
    Total noninterest expense $4,225
    Salaries and employee benefits $2,352
    Premises and equipment expense $546
    Additional noninterest expense $1,327
    Applicable income taxes $337
    Net charge-offs $-9
    Cash dividends $378

    The Farmers And Merchants Bank's interest expense for loans was $576,000.
    The Farmers And Merchants Bank's payroll and benefits expense were $2,352,000.
    The Farmers And Merchants Bank's property, plant and equipment expenses $546,000.

    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 $132,770
    Deposits held in domestic offices $132,770
    Deposits by Individuals, partnerships, and corporations $116,414
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $16,356
    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 $67,154
    Demand deposits $37,399
    Nontransaction accounts $65,616
    Money market deposit accounts (MMDAs) $19,247
    Other savings deposits (excluding MMDAs) $19,203
    Total time deposits $27,166
    Total time and savings deposits $95,371
    Noninterest-bearing deposits $27,204
    Interest-bearing deposits $105,566
    Retail deposits $121,983
    IRAs and Keogh plan accounts $4,061
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $152,722
    Cash & Balances due from depository institutions $13,640
    Interest-bearing balances $8,010
    Total securities $24,408
    Federal funds sold & reverse repurchase $22,103
    Net loans and leases $86,032
    Loan and leases loss allowance $1,419
    Trading account assets $0
    Bank premises and fixed assets $4,894
    Other real estate owned $0
    Goodwill and other intangibles $260
    All other assets $1,385

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $152,722
    Total Liabilities $136,641
    Total deposits $132,770
    Interest-bearing deposits $105,566
    Deposits held in domestic offices $132,770
    % insured (estimated) $78
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $3,500
    Subordinated debt $0
    All other liabilities $371

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $86,032
    Loan and leases loss allowance $1,419
    Total loans and leases (domestic) $87,451
    All real estate loans $56,932
    Real estate loans in domestic offices $56,932
    Construction and development loans $1,630
    Residential 1-4 family construction $876
    Other construction, all land development and other land $754
    Loans secured by nonfarm nonresidential properties $13,762
    Nonfarm nonresidential secured by owner-occupied properties $10,655
    Commercial real estate & other non-farm, non-residential $3,107
    Multifamily residential real estate $2,976
    1-4 family residential loans $21,402
    Farmland loans $17,162
    Loans held in foreign offices $0
    Farm loans $20,190
    Commercial and industrial loans $9,161
    To non-U.S. addressees $0
    Loans to individuals $952
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $815
    Other loans to individuals $137
    All other loans & leases $216
    Loans to foreign governments and official institutions $0
    Other loans $19
    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 $191
    Non 1-4 family restructured loans & leases $29
    Total loans and leases (foreign) $0

    The Farmers and Merchants Bank had $86,032,000 of loans outstanding in 2020. $56,932,000 of loans were in real estate loans. $1,630,000 of loans were in development loans. $2,976,000 of loans were in multifamily mortgage loans. $21,402,000 of loans were in 1-4 family mortgage loans. $20,190,000 of loans were in farm loans. $0 of loans were in credit card loans. $815,000 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 $6,581 $212,290
    Nonfarm, nonresidential loans - <$100k 10 $433 $43,300
    Nonfarm, nonresidential loans - $100-250k 9 $767 $85,222
    Nonfarm, nonresidential loans - $250k-1MM 12 $5,381 $448,417
    Commercial & Industrial, US addressed loans - <$1MM 68 $4,506 $66,265
    Commercial & Industrial, US addressed loans - <$100k 46 $868 $18,870
    Commercial & Industrial, US addressed loans - $100-250k 8 $630 $78,750
    Commercial & Industrial, US addressed loans - $250k-1MM 14 $3,008 $214,857
    Farmland loans - <$1MM 53 $8,995 $169,717
    Farmland loans - <$100k 11 $402 $36,545
    Farmland loans - $100-250k 22 $2,754 $125,182
    Farmland loans - $250k-1MM 20 $5,839 $291,950
    Agriculture operations loans - <$1MM 120 $11,523 $96,025
    Agriculture operations loans - <$100k 63 $1,935 $30,714
    Agriculture operations loans - $100-250k 35 $3,447 $98,486
    Agriculture operations loans - $250k-1MM 22 $6,141 $279,136