Merchants And Manufacturers Bank Mortgage Rates, Fees & Info

Joliet, IL

LEI: 549300QWUZ3ZGKKC7W73

Tax ID: 36-2664246

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Mortgage Data

Bank Data

Review & Overview

Merchants And Manufacturers Bank is a smaller bank specializing in Home Purchase and Refi loans. Merchants And Manufacturers Bank has a high proportion of conventional loans. Their top two markets are Chicago and Whitewater .

Merchants And Manufacturers Bank has an above average approval rate when compared to the average across all lenders.

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Originations

19

Origination Dollar Volume (All Markets)

$12,165,000

Employee count

43

Top Markets

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    Market Originations Total Value Average Loan Average Fees Average Rate
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 18 $10,720,000 $595,556 $0 5.08%
    Whitewater, WI (FHA|USDA|VA) 1 $1,445,000 $1,445,000 $0 5.50%
    Merchants And Manufacturers Bank's top markets include Chicago and Whitewater among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 19 $12,165,000 $640,263 $0 5.11%

    For 2018, Merchants And Manufacturers Bank's most frequently originated type of loan was Conventional, with 19 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 11 $5,865,000 $533,182 $0 5.09%
    Refi 6 $5,980,000 $996,667 $0 4.92%
    Home Improvement 2 $320,000 $160,000 $0 5.75%

    For 2018, Merchants And Manufacturers Bank's most frequently cited loan purpose was Home Purchase, with 11 originations. The 2nd most popular reason was Refi, with 6 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    5 Year 14 $7,820,000 $558,571 $0 5.14%
    Other 4 $2,440,000 $610,000 $0 5.06%
    10 Year 1 $1,905,000 $1,905,000 $0 4.75%

    For 2018, Merchants And Manufacturers Bank's most frequently cited loan duration was 5 Year, with 14 originations. The 2nd most popular length was Other, with 4 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 9 $5,265,000 $585,000
    4-5% 8 $6,360,000 $795,000
    3-4% 1 $375,000 $375,000
    6-7% 1 $165,000 $165,000

    During 2018, Merchants And Manufacturers Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 9 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 5 $1,405,000 $281,000 $0 4.90%
    $400k-600k 4 $1,990,000 $497,500 $0 4.88%
    $600k-1MM 4 $3,120,000 $780,000 $0 5.31%
    $100k-200k 3 $425,000 $141,667 $0 5.67%
    $1MM+ 3 $5,225,000 $1,741,667 $0 4.92%

    2018 saw Merchants And Manufacturers Bank place emphasis on $200k-400k loans with 5 originations, totaling $1,405,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 1 $105,000 $105,000 $0 5.50%
    $75k-100k 1 $795,000 $795,000 $0 5.50%

    Merchants And Manufacturers Bank lent most frequently to those with incomes in the $250k+ range, with 1 originations. The second most popular income band? $75k-100k, with 1 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    40% 1 $795,000 $795,000 $0 5.50%

    Merchants And Manufacturers Bank lent most frequently to those with DTI ratios of 40%, with 1 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 16 $9,390,000 $586,875 $0 5.09%
    White 3 $2,775,000 $925,000 $0 5.17%

    Approval Rates

    Total approvals of all applications
    100.00%

    Merchants And Manufacturers Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    NA 19 $12,165,000 $640,263

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 6 $6,090,000 $1,015,000
    Single Family (1-4 Units):Site-Built 13 $6,075,000 $467,308

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1 $465,000 $465,000 $0 4.75%
    40-60% 8 $6,360,000 $795,000 $0 5.19%
    60-80% 9 $3,895,000 $432,778 $0 5.03%
    Under 20% 1 $1,445,000 $1,445,000 $0 5.50%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    MORGAN STANLEY & CO. LLC Conventional home mortgage Struggling to pay mortgage 1 33.3%
    MORGAN STANLEY & CO. LLC Home equity loan or line of credit (HELOC) Trouble during payment process 1 33.3%
    MORGAN STANLEY & CO. LLC Other type of mortgage Closing on a mortgage 1 33.3%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Merchants and Manufacturers Bank 25140 W. Channon Dr. Channahon, IL 60410 Full Service B&M $67,023
    Merchants and Manufacturers Bank 601 East Cass Street Joliet, IL 60432 Full Service B&M $20,304
    Merchants and Manufacturers Bank 801 S. Briggs St. Joliet, IL 60433 Full Service B&M $28,165
    Merchants and Manufacturers Bank 990 Essington Rd. Joliet, IL 60435 Full Service B&M $34,208
    Merchants and Manufacturers Bank One Mid America Plaza, Suite 140 Oakbrook Terrace, IL 60181 Full Service B&M $46,028

    For 2018, Merchants And Manufacturers Bank had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $12,446
    Net interest income $10,611
    Total noninterest income $986
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $247
    Trading account gains and fees $0
    Additional Noninterest Income $739
    Pre-tax net operating income $3,053
    Securities gains (or losses, -) $-35
    Income before extraordinary items $2,228
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,228
    Minority interest net income $0
    Net income $2,228
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,255

    Merchants And Manufacturers Bank's gross interest income from loans was $12,446,000.
    Merchants And Manufacturers Bank's net interest income from loans was $10,611,000.
    Merchants And Manufacturers Bank's fee based income from loans was $247,000.
    Merchants And Manufacturers Bank's net income from loans was $2,228,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,835
    Provision for credit losses $0
    Total noninterest expense $8,544
    Salaries and employee benefits $5,295
    Premises and equipment expense $949
    Additional noninterest expense $2,300
    Applicable income taxes $790
    Net charge-offs $-103
    Cash dividends $1,000

    Merchants And Manufacturers Bank's interest expense for loans was $1,835,000.
    Merchants And Manufacturers Bank's payroll and benefits expense were $5,295,000.
    Merchants And Manufacturers Bank's property, plant and equipment expenses $949,000.

    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 $210,754
    Deposits held in domestic offices $210,754
    Deposits by Individuals, partnerships, and corporations $203,775
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $2,626
    Deposits by Commercial banks and other depository institutions in U.S. $4,353
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $58,693
    Demand deposits $48,411
    Nontransaction accounts $152,061
    Money market deposit accounts (MMDAs) $46,418
    Other savings deposits (excluding MMDAs) $57,526
    Total time deposits $48,116
    Total time and savings deposits $162,343
    Noninterest-bearing deposits $48,669
    Interest-bearing deposits $162,085
    Retail deposits $190,939
    IRAs and Keogh plan accounts $2,347
    Brokered deposits $16,868
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $264,484
    Cash & Balances due from depository institutions $9,618
    Interest-bearing balances $8,346
    Total securities $9,133
    Federal funds sold & reverse repurchase $0
    Net loans and leases $237,016
    Loan and leases loss allowance $2,745
    Trading account assets $0
    Bank premises and fixed assets $2,360
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $6,357

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $264,485
    Total Liabilities $243,396
    Total deposits $210,754
    Interest-bearing deposits $162,085
    Deposits held in domestic offices $210,754
    % insured (estimated) $77
    Federal funds purchased and repurchase agreements $7,819
    Trading liabilities $0
    Other borrowed funds $17,600
    Subordinated debt $1,250
    All other liabilities $5,973

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $237,016
    Loan and leases loss allowance $2,745
    Total loans and leases (domestic) $239,761
    All real estate loans $70,463
    Real estate loans in domestic offices $70,463
    Construction and development loans $1,041
    Residential 1-4 family construction $205
    Other construction, all land development and other land $836
    Loans secured by nonfarm nonresidential properties $34,725
    Nonfarm nonresidential secured by owner-occupied properties $22,606
    Commercial real estate & other non-farm, non-residential $12,119
    Multifamily residential real estate $14,376
    1-4 family residential loans $20,321
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $75,150
    To non-U.S. addressees $0
    Loans to individuals $93,055
    Credit card loans $0
    Related Plans $91,646
    Consumer Auto Loans $0
    Other loans to individuals $1,409
    All other loans & leases $1,093
    Loans to foreign governments and official institutions $0
    Other loans $576
    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

    Merchants and Manufacturers Bank had $237,016,000 of loans outstanding in 2018. $70,463,000 of loans were in real estate loans. $1,041,000 of loans were in development loans. $14,376,000 of loans were in multifamily mortgage loans. $20,321,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $0 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 32 $10,759 $336,219
    Nonfarm, nonresidential loans - <$100k 4 $157 $39,250
    Nonfarm, nonresidential loans - $100-250k 5 $567 $113,400
    Nonfarm, nonresidential loans - $250k-1MM 23 $10,035 $436,304
    Commercial & Industrial, US addressed loans - <$1MM 227 $31,657 $139,458
    Commercial & Industrial, US addressed loans - <$100k 64 $1,815 $28,359
    Commercial & Industrial, US addressed loans - $100-250k 63 $4,861 $77,159
    Commercial & Industrial, US addressed loans - $250k-1MM 100 $24,981 $249,810