Farmers And Mechanics Federal Savings Bank Mortgage Rates, Fees & Info

Bloomfield, IN

LEI: 549300TDS8QNL4IOOX73

Tax ID: 35-0303170

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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

    Farmers And Mechanics Federal Savings Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Farmers And Mechanics Federal Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Bloomington, Washington, Indianapolis, Terre Haute, and Bedford among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Farmers And Mechanics Federal Savings Bank has an above average approval rate when compared to the average across all lenders.

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    Originations

    21

    Origination Dollar Volume (All Markets)

    $1,745,000

    Employee count

    12

    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
    Outside of Metro Areas 13 $1,075,000 $82,692 $0 0.00%
    BLOOMINGTON, IN (FHA|USDA|VA) 4 $400,000 $100,000 $0 0.00%
    Washington, IN (FHA|USDA|VA) 1 $95,000 $95,000 $0 0.00%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
    TERRE HAUTE, IN (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
    Bedford, IN (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.00%
    Farmers And Mechanics Federal Savings Bank's top markets include Bloomington, Washington, Indianapolis, Terre Haute, and Bedford among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 21 $1,745,000 $83,095 $0 0.00%

    For 2018, Farmers And Mechanics Federal Savings Bank's most frequently originated type of loan was Conventional, with 21 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 12 $990,000 $82,500 $0 0.00%
    Cash Out Refi 9 $755,000 $83,889 $0 0.00%

    For 2018, Farmers And Mechanics Federal Savings Bank's most frequently cited loan purpose was Home Purchase, with 12 originations. The 2nd most popular reason was Cash Out Refi, with 9 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 21 $1,745,000 $83,095 $0 0.00%

    For 2018, Farmers And Mechanics Federal Savings Bank's most frequently cited loan duration was Other, with 21 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 16 $910,000 $56,875 $0 0.00%
    $100k-200k 4 $580,000 $145,000 $0 0.00%
    $200k-400k 1 $255,000 $255,000 $0 0.00%

    2018 saw Farmers And Mechanics Federal Savings Bank place emphasis on $100,000 or less loans with 16 originations, totaling $910,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 9 $515,000 $57,222 $0 0.00%
    $75k-100k 8 $820,000 $102,500 $0 0.00%
    $100k-150k 3 $275,000 $91,667 $0 0.00%
    $50k-75k 1 $135,000 $135,000 $0 0.00%

    Farmers And Mechanics Federal Savings Bank lent most frequently to those with incomes in the $50k or less range, with 9 originations. The second most popular income band? $75k-100k, with 8 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 21 $1,745,000 $83,095 $0 0.00%

    Approval Rates

    Total approvals of all applications
    91.30%

    Farmers And Mechanics Federal Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    NA 21 $1,745,000 $83,095

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 21 $1,745,000 $83,095

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Farmers and Mechanics Federal Savings Bank 225 East Main Street Bloomfield, IN 47424 Full Service B&M $48,521
    Farmers and Mechanics Federal Savings Bank 3535 West Third Street Bloomington, IN 47404 Full Service B&M $15,956

    For 2018, Farmers And Mechanics Federal Savings Bank had 2 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $2,216
    Net interest income $1,676
    Total noninterest income $98
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $26
    Trading account gains and fees $0
    Additional Noninterest Income $72
    Pre-tax net operating income $62
    Securities gains (or losses, -) $11
    Income before extraordinary items $128
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $128
    Minority interest net income $0
    Net income $128
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $117

    Farmers And Mechanics Federal Savings Bank's gross interest income from loans was $2,216,000.
    Farmers And Mechanics Federal Savings Bank's net interest income from loans was $1,676,000.
    Farmers And Mechanics Federal Savings Bank's fee based income from loans was $26,000.
    Farmers And Mechanics Federal Savings Bank's net income from loans was $128,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $540
    Provision for credit losses $0
    Total noninterest expense $1,712
    Salaries and employee benefits $1,007
    Premises and equipment expense $191
    Additional noninterest expense $514
    Applicable income taxes $-55
    Net charge-offs $0
    Cash dividends $0

    Farmers And Mechanics Federal Savings Bank's interest expense for loans was $540,000.
    Farmers And Mechanics Federal Savings Bank's payroll and benefits expense were $1,007,000.
    Farmers And Mechanics Federal Savings Bank's property, plant and equipment expenses $191,000.

    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 $61,505
    Deposits held in domestic offices $61,505
    Deposits by Individuals, partnerships, and corporations $58,606
    Deposits by U.S. Government $2
    Deposits by States and political subdivisions in the U.S. $2,897
    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 $22,234
    Demand deposits $22,234
    Nontransaction accounts $39,271
    Money market deposit accounts (MMDAs) $0
    Other savings deposits (excluding MMDAs) $11,863
    Total time deposits $27,408
    Total time and savings deposits $39,271
    Noninterest-bearing deposits $2,248
    Interest-bearing deposits $59,257
    Retail deposits $54,682
    IRAs and Keogh plan accounts $10,474
    Brokered deposits $4,900
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $73,874
    Cash & Balances due from depository institutions $8,618
    Interest-bearing balances $8,060
    Total securities $34,811
    Federal funds sold & reverse repurchase $0
    Net loans and leases $27,697
    Loan and leases loss allowance $109
    Trading account assets $0
    Bank premises and fixed assets $1,324
    Other real estate owned $85
    Goodwill and other intangibles $0
    All other assets $1,339

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $73,874
    Total Liabilities $61,579
    Total deposits $61,505
    Interest-bearing deposits $59,257
    Deposits held in domestic offices $61,505
    % insured (estimated) $96
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $74

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $27,697
    Loan and leases loss allowance $109
    Total loans and leases (domestic) $27,806
    All real estate loans $27,728
    Real estate loans in domestic offices $27,728
    Construction and development loans $0
    Residential 1-4 family construction $0
    Other construction, all land development and other land $0
    Loans secured by nonfarm nonresidential properties $674
    Nonfarm nonresidential secured by owner-occupied properties $250
    Commercial real estate & other non-farm, non-residential $424
    Multifamily residential real estate $0
    1-4 family residential loans $27,054
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $21
    To non-U.S. addressees $0
    Loans to individuals $56
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $24
    Other loans to individuals $32
    All other loans & leases $1
    Loans to foreign governments and official institutions $0
    Other loans $1
    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 $43
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Farmers and Mechanics Federal Savings Bank had $27,697,000 of loans outstanding in 2018. $27,728,000 of loans were in real estate loans. $0 of loans were in development loans. $0 of loans were in multifamily mortgage loans. $27,054,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $24,000 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 7 $674 $96,286
    Nonfarm, nonresidential loans - <$100k 7 $674 $96,286