Farmers-merchants Bank Of Illinois Mortgage Rates, Fees & Info
Joy, ILLEI: 549300UBM8OIENB7BQ09
Tax ID: 36-1297405
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Mortgage Data
Bank Data
Review & Overview
Farmers-merchants Bank Of Illinois is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Farmers-merchants Bank Of Illinois has a high proportion of conventional loans. Their top two markets are Davenport and Burlington .Farmers-merchants Bank Of Illinois has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
33Origination Dollar Volume (All Markets)
$2,615,000Employee count
35Top 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 | 18 | $1,470,000 | $81,667 | $0 | 0.00% |
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 14 | $1,120,000 | $80,000 | $0 | 0.00% |
| Burlington, IA-IL (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 33 | $2,615,000 | $79,242 | $0 | 0.00% |
For 2018, Farmers-merchants Bank Of Illinois's most frequently originated type of loan was Conventional, with 33 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 20 | $1,250,000 | $62,500 | $0 | 0.00% |
| Cash Out Refi | 7 | $1,005,000 | $143,571 | $0 | 0.00% |
| Refi | 6 | $360,000 | $60,000 | $0 | 0.00% |
For 2018, Farmers-merchants Bank Of Illinois's most frequently cited loan purpose was Home Purchase, with 20 originations. The 2nd most popular reason was Cash Out Refi, with 7 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 33 | $2,615,000 | $79,242 | $0 | 0.00% |
For 2018, Farmers-merchants Bank Of Illinois's most frequently cited loan duration was Other, with 33 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 24 | $950,000 | $39,583 | $0 | 0.00% |
| $100k-200k | 5 | $745,000 | $149,000 | $0 | 0.00% |
| $200k-400k | 4 | $920,000 | $230,000 | $0 | 0.00% |
2018 saw Farmers-merchants Bank Of Illinois place emphasis on $100,000 or less loans with 24 originations, totaling $950,000 in origination value.
Applicant Income
Farmers-merchants Bank Of Illinois lent most frequently to those with incomes in the $50k or less range, with 11 originations. The second most popular income band? $75k-100k, with 9 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 33 | $2,615,000 | $79,242 | $0 | 0.00% |
Farmers-merchants Bank Of Illinois lent most frequently to those with DTI ratios of Exempt%, with 33 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 33 | $2,615,000 | $79,242 | $0 | 0.00% |
Approval Rates
Total approvals of all applications92.70%
Farmers-merchants Bank Of Illinois has an average approval rate.
Pick Rate
Approvals leading to origination72.73%
Farmers-merchants Bank Of Illinois has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 33 | $2,615,000 | $79,242 |
Occupancy Type Mix
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Joy State Bank | 101 W Main St. Joy, IL 61260 | Full Service B&M | $33,705 |
| Joy State Bank | 412 Main Street New Boston, IL 61272 | Full Service B&M | $5,948 |
For 2018, Farmers-merchants Bank Of Illinois had 2 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $3,446 |
| Net interest income | $2,926 |
| Total noninterest income | $256 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $109 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $147 |
| Pre-tax net operating income | $958 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $750 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $750 |
| Minority interest net income | $0 |
| Net income | $750 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $750 |
Farmers-merchants Bank Of Illinois's gross interest income from loans was $3,446,000.
Farmers-merchants Bank Of Illinois's net interest income from loans was $2,926,000.
Farmers-merchants Bank Of Illinois's fee based income from loans was $109,000.
Farmers-merchants Bank Of Illinois's net income from loans was $750,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $520 |
| Provision for credit losses | $133 |
| Total noninterest expense | $2,091 |
| Salaries and employee benefits | $1,074 |
| Premises and equipment expense | $118 |
| Additional noninterest expense | $899 |
| Applicable income taxes | $208 |
| Net charge-offs | $0 |
| Cash dividends | $0 |
Farmers-merchants Bank Of Illinois's interest expense for loans was $520,000.
Farmers-merchants Bank Of Illinois's payroll and benefits expense were $1,074,000.
Farmers-merchants Bank Of Illinois's property, plant and equipment expenses $118,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 1.0% |
| Real Estate loans | 1.0% |
| Construction & Land Development loans | 0.0% |
| Nonfarm, nonresidential loans | 0.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 3.0% |
| HELOC loans | 0.0% |
| All other family | 3.0% |
| 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 | 1.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $132,976 |
| Deposits held in domestic offices | $132,976 |
| Deposits by Individuals, partnerships, and corporations | $115,155 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $17,821 |
| 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 | $42,048 |
| Demand deposits | $22,805 |
| Nontransaction accounts | $90,928 |
| Money market deposit accounts (MMDAs) | $18,766 |
| Other savings deposits (excluding MMDAs) | $20,182 |
| Total time deposits | $51,980 |
| Total time and savings deposits | $110,171 |
| Noninterest-bearing deposits | $22,629 |
| Interest-bearing deposits | $110,347 |
| Retail deposits | $125,465 |
| IRAs and Keogh plan accounts | $10,157 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $173,321 |
| Cash & Balances due from depository institutions | $3,144 |
| Interest-bearing balances | $954 |
| Total securities | $67,632 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $85,944 |
| Loan and leases loss allowance | $133 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $1,074 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $10,411 |
| All other assets | $5,116 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $173,321 |
| Total Liabilities | $144,957 |
| Total deposits | $132,976 |
| Interest-bearing deposits | $110,347 |
| Deposits held in domestic offices | $132,976 |
| % insured (estimated) | $90 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $9,676 |
| Subordinated debt | $0 |
| All other liabilities | $2,305 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $85,944 |
| Loan and leases loss allowance | $133 |
| Total loans and leases (domestic) | $86,077 |
| All real estate loans | $54,315 |
| Real estate loans in domestic offices | $54,315 |
| Construction and development loans | $1,177 |
| Residential 1-4 family construction | $164 |
| Other construction, all land development and other land | $1,013 |
| Loans secured by nonfarm nonresidential properties | $8,276 |
| Nonfarm nonresidential secured by owner-occupied properties | $4,630 |
| Commercial real estate & other non-farm, non-residential | $3,646 |
| Multifamily residential real estate | $1,532 |
| 1-4 family residential loans | $29,547 |
| Farmland loans | $13,783 |
| Loans held in foreign offices | $0 |
| Farm loans | $11,927 |
| Commercial and industrial loans | $6,501 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $3,121 |
| Credit card loans | $0 |
| Related Plans | $27 |
| Consumer Auto Loans | $2,154 |
| Other loans to individuals | $940 |
| All other loans & leases | $10,214 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $48 |
| Loans to depository institutions and acceptances of other banks | $9,522 |
| Loans not secured by real estate | $0 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $14 |
| Non 1-4 family restructured loans & leases | $0 |
| Total loans and leases (foreign) | $0 |
Farmers-Merchants Bank of Illinois had $85,944,000 of loans outstanding in 2018. $54,315,000 of loans were in real estate loans. $1,177,000 of loans were in development loans. $1,532,000 of loans were in multifamily mortgage loans. $29,547,000 of loans were in 1-4 family mortgage loans. $11,927,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,154,000 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 | 42 | $4,081 | $97,167 |
| Nonfarm, nonresidential loans - <$100k | 25 | $654 | $26,160 |
| Nonfarm, nonresidential loans - $100-250k | 10 | $1,041 | $104,100 |
| Nonfarm, nonresidential loans - $250k-1MM | 7 | $2,386 | $340,857 |
| Commercial & Industrial, US addressed loans - <$1MM | 68 | $6,501 | $95,603 |
| Commercial & Industrial, US addressed loans - <$100k | 42 | $1,309 | $31,167 |
| Commercial & Industrial, US addressed loans - $100-250k | 16 | $1,561 | $97,563 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 10 | $3,631 | $363,100 |
| Farmland loans - <$1MM | 61 | $6,282 | $102,984 |
| Farmland loans - <$100k | 27 | $952 | $35,259 |
| Farmland loans - $100-250k | 25 | $3,165 | $126,600 |
| Farmland loans - $250k-1MM | 9 | $2,165 | $240,556 |
| Agriculture operations loans - <$1MM | 123 | $9,128 | $74,211 |
| Agriculture operations loans - <$100k | 72 | $1,738 | $24,139 |
| Agriculture operations loans - $100-250k | 43 | $5,298 | $123,209 |
| Agriculture operations loans - $250k-1MM | 8 | $2,092 | $261,500 |