Farmers And Mechanics Federal Savings Bank Mortgage Rates, Fees & Info
Bloomfield, IN
LEI: 549300TDS8QNL4IOOX73
Tax ID: 35-0303170
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Mortgage Data
Bank Data
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
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.
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 |