Merchants And Manufacturers Bank Mortgage Rates, Fees & Info

Joliet, IL

LEI: 549300QWUZ3ZGKKC7W73

Tax ID: 36-2664246

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

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, Cash Out Refi, and Home Purchase loans. Merchants And Manufacturers Bank has a high proportion of conventional loans. Their top two markets are Chicago and Carbondale .

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

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    Originations

    45

    Origination Dollar Volume (All Markets)

    $16,595,000

    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) 44 $16,490,000 $374,773 $0 0.00%
    CARBONDALE-MARION, IL (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
    Merchants And Manufacturers Bank's top markets include Chicago and Carbondale among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 45 $16,595,000 $368,778 $0 0.00%

    For 2020, Merchants And Manufacturers Bank's most frequently originated type of loan was Conventional, with 45 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 13 $5,875,000 $451,923 $0 0.00%
    Other 12 $1,130,000 $94,167 $0 0.00%
    Cash Out Refi 11 $5,175,000 $470,455 $0 0.00%
    Home Purchase 5 $3,645,000 $729,000 $0 0.00%
    Home Improvement 4 $770,000 $192,500 $0 0.00%

    For 2020, Merchants And Manufacturers Bank's most frequently cited loan purpose was Refi, with 13 originations. The 2nd most popular reason was Other, with 12 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 45 $16,595,000 $368,778 $0 0.00%

    For 2020, Merchants And Manufacturers Bank's most frequently cited loan duration was Other, with 45 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 11 $525,000 $47,727 $0 0.00%
    $200k-400k 11 $3,225,000 $293,182 $0 0.00%
    $400k-600k 8 $4,030,000 $503,750 $0 0.00%
    $600k-1MM 8 $5,980,000 $747,500 $0 0.00%
    $100k-200k 5 $625,000 $125,000 $0 0.00%
    $1MM+ 2 $2,210,000 $1,105,000 $0 0.00%

    2020 saw Merchants And Manufacturers Bank place emphasis on $100,000 or less loans with 11 originations, totaling $525,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 7 $715,000 $102,143 $0 0.00%
    $150k-250k 6 $1,320,000 $220,000 $0 0.00%
    $100k-150k 5 $1,495,000 $299,000 $0 0.00%
    $50k or less 3 $215,000 $71,667 $0 0.00%
    $50k-75k 2 $380,000 $190,000 $0 0.00%

    Merchants And Manufacturers Bank lent most frequently to those with incomes in the $75k-100k range, with 7 originations. The second most popular income band? $150k-250k, with 6 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 45 $16,595,000 $368,778 $0 0.00%

    Merchants And Manufacturers Bank lent most frequently to those with DTI ratios of Exempt%, with 45 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 20 $11,470,000 $573,500 $0 0.00%
    White 24 $4,620,000 $192,500 $0 0.00%
    Not provided 1 $505,000 $505,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.75%

    Merchants And Manufacturers Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    97.78%

    Merchants And Manufacturers Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 45 $16,595,000 $368,778

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 11 $6,925,000 $629,545
    Single Family (1-4 Units):Site-Built 34 $9,670,000 $284,412

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    MORGAN STANLEY & CO. LLC Conventional home mortgage Closing on a mortgage 1 11.1%
    MORGAN STANLEY & CO. LLC Conventional home mortgage Struggling to pay mortgage 2 22.2%
    MORGAN STANLEY & CO. LLC Conventional home mortgage Trouble during payment process 4 44.4%
    MORGAN STANLEY & CO. LLC Other type of mortgage Struggling to pay mortgage 1 11.1%
    MORGAN STANLEY & CO. LLC Other type of mortgage Trouble during payment process 1 11.1%

    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 $73,682
    Merchants and Manufacturers Bank 601 East Cass Street Joliet, IL 60432 Full Service B&M $25,030
    Merchants and Manufacturers Bank 801 S. Briggs St. Joliet, IL 60433 Full Service B&M $27,361
    Merchants and Manufacturers Bank 990 Essington Rd. Joliet, IL 60435 Full Service B&M $37,591
    Merchants and Manufacturers Bank One Mid America Plaza, Suite 140 Oakbrook Terrace, IL 60181 Full Service B&M $92,513

    For 2020, Merchants And Manufacturers Bank had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $13,716
    Net interest income $12,204
    Total noninterest income $725
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $195
    Trading account gains and fees $0
    Additional Noninterest Income $530
    Pre-tax net operating income $3,399
    Securities gains (or losses, -) $12
    Income before extraordinary items $2,454
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,454
    Minority interest net income $0
    Net income $2,454
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,444

    Merchants And Manufacturers Bank's gross interest income from loans was $13,716,000.
    Merchants And Manufacturers Bank's net interest income from loans was $12,204,000.
    Merchants And Manufacturers Bank's fee based income from loans was $195,000.
    Merchants And Manufacturers Bank's net income from loans was $2,454,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,512
    Provision for credit losses $342
    Total noninterest expense $9,188
    Salaries and employee benefits $5,368
    Premises and equipment expense $958
    Additional noninterest expense $2,862
    Applicable income taxes $957
    Net charge-offs $2
    Cash dividends $600

    Merchants And Manufacturers Bank's interest expense for loans was $1,512,000.
    Merchants And Manufacturers Bank's payroll and benefits expense were $5,368,000.
    Merchants And Manufacturers Bank's property, plant and equipment expenses $958,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 5.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 12.0%
    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 $256,009
    Deposits held in domestic offices $256,009
    Deposits by Individuals, partnerships, and corporations $251,270
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $4,554
    Deposits by Commercial banks and other depository institutions in U.S. $185
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $101,296
    Demand deposits $83,887
    Nontransaction accounts $154,713
    Money market deposit accounts (MMDAs) $43,616
    Other savings deposits (excluding MMDAs) $65,803
    Total time deposits $45,294
    Total time and savings deposits $172,122
    Noninterest-bearing deposits $83,887
    Interest-bearing deposits $172,122
    Retail deposits $243,753
    IRAs and Keogh plan accounts $2,571
    Brokered deposits $9,500
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $324,768
    Cash & Balances due from depository institutions $20,418
    Interest-bearing balances $18,820
    Total securities $6,481
    Federal funds sold & reverse repurchase $0
    Net loans and leases $288,402
    Loan and leases loss allowance $3,137
    Trading account assets $0
    Bank premises and fixed assets $2,443
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $7,024

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $324,768
    Total Liabilities $300,014
    Total deposits $256,009
    Interest-bearing deposits $172,122
    Deposits held in domestic offices $256,009
    % insured (estimated) $68
    Federal funds purchased and repurchase agreements $1,678
    Trading liabilities $0
    Other borrowed funds $36,964
    Subordinated debt $1,250
    All other liabilities $4,113

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $288,402
    Loan and leases loss allowance $3,137
    Total loans and leases (domestic) $291,539
    All real estate loans $74,465
    Real estate loans in domestic offices $74,465
    Construction and development loans $5,759
    Residential 1-4 family construction $2,824
    Other construction, all land development and other land $2,935
    Loans secured by nonfarm nonresidential properties $31,356
    Nonfarm nonresidential secured by owner-occupied properties $16,563
    Commercial real estate & other non-farm, non-residential $14,793
    Multifamily residential real estate $14,019
    1-4 family residential loans $21,331
    Farmland loans $2,000
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $78,591
    To non-U.S. addressees $0
    Loans to individuals $138,409
    Credit card loans $0
    Related Plans $137,141
    Consumer Auto Loans $6
    Other loans to individuals $1,262
    All other loans & leases $74
    Loans to foreign governments and official institutions $0
    Other loans $0
    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 $288,402,000 of loans outstanding in 2020. $74,465,000 of loans were in real estate loans. $5,759,000 of loans were in development loans. $14,019,000 of loans were in multifamily mortgage loans. $21,331,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $6,000 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 20 $8,859 $442,950
    Nonfarm, nonresidential loans - $100-250k 2 $53 $26,500
    Nonfarm, nonresidential loans - $250k-1MM 18 $8,806 $489,222
    Commercial & Industrial, US addressed loans - <$1MM 349 $38,366 $109,931
    Commercial & Industrial, US addressed loans - <$100k 139 $4,882 $35,122
    Commercial & Industrial, US addressed loans - $100-250k 99 $10,063 $101,646
    Commercial & Industrial, US addressed loans - $250k-1MM 111 $23,421 $211,000