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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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
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.
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 |