Merchants And Manufacturers Bank Mortgage Rates, Fees & Info

Joliet, IL

LEI: 549300QWUZ3ZGKKC7W73

Tax ID: 36-2664246

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

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

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

    17

    Origination Dollar Volume (All Markets)

    $12,875,000

    Employee count

    43

    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
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 16 $10,170,000 $635,625 $0 0.00%
    Bozeman, MT (FHA|USDA|VA) 1 $2,705,000 $2,705,000 $0 0.00%
    Merchants And Manufacturers Bank's top markets include Chicago and Bozeman among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 17 $12,875,000 $757,353 $0 0.00%

    For 2019, Merchants And Manufacturers Bank's most frequently originated type of loan was Conventional, with 17 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 12 $8,350,000 $695,833 $0 0.00%
    Home Purchase 4 $3,900,000 $975,000 $0 0.00%
    Home Improvement 1 $625,000 $625,000 $0 0.00%

    For 2019, Merchants And Manufacturers Bank's most frequently cited loan purpose was Refi, with 12 originations. The 2nd most popular reason was Home Purchase, with 4 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 17 $12,875,000 $757,353 $0 0.00%

    For 2019, Merchants And Manufacturers Bank's most frequently cited loan duration was Other, with 17 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 5 $2,615,000 $523,000 $0 0.00%
    $600k-1MM 5 $3,705,000 $741,000 $0 0.00%
    $1MM+ 3 $5,445,000 $1,815,000 $0 0.00%
    $200k-400k 3 $945,000 $315,000 $0 0.00%
    $100k-200k 1 $165,000 $165,000 $0 0.00%

    2019 saw Merchants And Manufacturers Bank place emphasis on $400k-600k loans with 5 originations, totaling $2,615,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 4 $5,550,000 $1,387,500 $0 0.00%
    $150k-250k 2 $1,400,000 $700,000 $0 0.00%

    Merchants And Manufacturers Bank lent most frequently to those with incomes in the $250k+ range, with 4 originations. The second most popular income band? $150k-250k, with 2 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 17 $12,875,000 $757,353 $0 0.00%

    Merchants And Manufacturers Bank lent most frequently to those with DTI ratios of Exempt%, with 17 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 6 $6,950,000 $1,158,333 $0 0.00%
    Not applicable 11 $5,925,000 $538,636 $0 0.00%

    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
    Exempt 17 $12,875,000 $757,353

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $3,465,000 $693,000
    Single Family (1-4 Units):Site-Built 12 $9,410,000 $784,167

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    MORGAN STANLEY & CO. LLC Conventional home mortgage Closing on a mortgage 1 8.3%
    MORGAN STANLEY & CO. LLC Conventional home mortgage Incorrect information on your report 1 8.3%
    MORGAN STANLEY & CO. LLC Conventional home mortgage Struggling to pay mortgage 3 25.0%
    MORGAN STANLEY & CO. LLC Conventional home mortgage Trouble during payment process 6 50.0%
    MORGAN STANLEY & CO. LLC Other type of mortgage Struggling to pay mortgage 1 8.3%

    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 $83,716
    Merchants and Manufacturers Bank 601 East Cass Street Joliet, IL 60432 Full Service B&M $23,684
    Merchants and Manufacturers Bank 801 S. Briggs St. Joliet, IL 60433 Full Service B&M $25,100
    Merchants and Manufacturers Bank 990 Essington Rd. Joliet, IL 60435 Full Service B&M $32,086
    Merchants and Manufacturers Bank One Mid America Plaza, Suite 140 Oakbrook Terrace, IL 60181 Full Service B&M $57,259

    For 2019, Merchants And Manufacturers Bank had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $14,200
    Net interest income $11,670
    Total noninterest income $919
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $271
    Trading account gains and fees $0
    Additional Noninterest Income $648
    Pre-tax net operating income $3,207
    Securities gains (or losses, -) $24
    Income before extraordinary items $2,310
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,310
    Minority interest net income $0
    Net income $2,310
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,291

    Merchants And Manufacturers Bank's gross interest income from loans was $14,200,000.
    Merchants And Manufacturers Bank's net interest income from loans was $11,670,000.
    Merchants And Manufacturers Bank's fee based income from loans was $271,000.
    Merchants And Manufacturers Bank's net income from loans was $2,310,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,530
    Provision for credit losses $2
    Total noninterest expense $9,380
    Salaries and employee benefits $5,920
    Premises and equipment expense $942
    Additional noninterest expense $2,518
    Applicable income taxes $921
    Net charge-offs $-50
    Cash dividends $800

    Merchants And Manufacturers Bank's interest expense for loans was $2,530,000.
    Merchants And Manufacturers Bank's payroll and benefits expense were $5,920,000.
    Merchants And Manufacturers Bank's property, plant and equipment expenses $942,000.

    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 $220,043
    Deposits held in domestic offices $220,043
    Deposits by Individuals, partnerships, and corporations $212,665
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $6,788
    Deposits by Commercial banks and other depository institutions in U.S. $590
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $61,302
    Demand deposits $50,363
    Nontransaction accounts $158,741
    Money market deposit accounts (MMDAs) $50,744
    Other savings deposits (excluding MMDAs) $52,779
    Total time deposits $55,218
    Total time and savings deposits $169,680
    Noninterest-bearing deposits $50,527
    Interest-bearing deposits $169,516
    Retail deposits $199,978
    IRAs and Keogh plan accounts $2,451
    Brokered deposits $16,350
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $274,098
    Cash & Balances due from depository institutions $8,671
    Interest-bearing balances $7,221
    Total securities $8,247
    Federal funds sold & reverse repurchase $0
    Net loans and leases $247,840
    Loan and leases loss allowance $2,797
    Trading account assets $0
    Bank premises and fixed assets $2,486
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $6,854

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $274,098
    Total Liabilities $251,281
    Total deposits $220,043
    Interest-bearing deposits $169,516
    Deposits held in domestic offices $220,043
    % insured (estimated) $73
    Federal funds purchased and repurchase agreements $3,041
    Trading liabilities $0
    Other borrowed funds $20,000
    Subordinated debt $1,250
    All other liabilities $6,947

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $247,840
    Loan and leases loss allowance $2,797
    Total loans and leases (domestic) $250,637
    All real estate loans $74,483
    Real estate loans in domestic offices $74,483
    Construction and development loans $4,210
    Residential 1-4 family construction $2,639
    Other construction, all land development and other land $1,571
    Loans secured by nonfarm nonresidential properties $34,068
    Nonfarm nonresidential secured by owner-occupied properties $22,167
    Commercial real estate & other non-farm, non-residential $11,901
    Multifamily residential real estate $12,991
    1-4 family residential loans $21,214
    Farmland loans $2,000
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $71,284
    To non-U.S. addressees $0
    Loans to individuals $103,607
    Credit card loans $0
    Related Plans $102,281
    Consumer Auto Loans $0
    Other loans to individuals $1,326
    All other loans & leases $1,263
    Loans to foreign governments and official institutions $0
    Other loans $1,038
    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 $247,840,000 of loans outstanding in 2019. $74,483,000 of loans were in real estate loans. $4,210,000 of loans were in development loans. $12,991,000 of loans were in multifamily mortgage loans. $21,214,000 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 27 $10,484 $388,296
    Nonfarm, nonresidential loans - <$100k 1 $68 $68,000
    Nonfarm, nonresidential loans - $100-250k 3 $245 $81,667
    Nonfarm, nonresidential loans - $250k-1MM 23 $10,171 $442,217
    Commercial & Industrial, US addressed loans - <$1MM 234 $29,265 $125,064
    Commercial & Industrial, US addressed loans - <$100k 67 $2,075 $30,970
    Commercial & Industrial, US addressed loans - $100-250k 68 $5,541 $81,485
    Commercial & Industrial, US addressed loans - $250k-1MM 99 $21,649 $218,677