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 Cash Out Refi and Refi loans. Farmers-merchants Bank Of Illinois has a high proportion of conventional loans. Their top markets by origination volume include: Davenport, Champaign, Burlington, and Danville among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)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
39Origination Dollar Volume (All Markets)
$4,005,000Employee count
32Top 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 |
|---|---|---|---|---|---|
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 17 | $1,805,000 | $106,176 | $0 | 0.00% |
| Outside of Metro Areas | 15 | $1,115,000 | $74,333 | $0 | 0.00% |
| CHAMPAIGN-URBANA, IL (FHA|USDA|VA) | 4 | $710,000 | $177,500 | $0 | 0.00% |
| Burlington, IA-IL (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $0 | 0.00% |
| DANVILLE, IL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 39 | $4,005,000 | $102,692 | $0 | 0.00% |
For 2020, Farmers-merchants Bank Of Illinois's most frequently originated type of loan was Conventional, with 39 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 17 | $1,945,000 | $114,412 | $0 | 0.00% |
| Refi | 16 | $1,540,000 | $96,250 | $0 | 0.00% |
| Home Purchase | 6 | $520,000 | $86,667 | $0 | 0.00% |
For 2020, Farmers-merchants Bank Of Illinois's most frequently cited loan purpose was Cash Out Refi, with 17 originations. The 2nd most popular reason was Refi, with 16 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 39 | $4,005,000 | $102,692 | $0 | 0.00% |
For 2020, Farmers-merchants Bank Of Illinois's most frequently cited loan duration was Other, with 39 originations.
Loan Sizing
2020 saw Farmers-merchants Bank Of Illinois place emphasis on $100,000 or less loans with 23 originations, totaling $1,475,000 in origination value.
Applicant Income
Farmers-merchants Bank Of Illinois lent most frequently to those with incomes in the $50k or less range, with 12 originations. The second most popular income band? $50k-75k, with 10 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 39 | $4,005,000 | $102,692 | $0 | 0.00% |
Farmers-merchants Bank Of Illinois lent most frequently to those with DTI ratios of Exempt%, with 39 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.89%
Farmers-merchants Bank Of Illinois has an average approval rate.
Pick Rate
Approvals leading to origination66.67%
Farmers-merchants Bank Of Illinois has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 39 | $4,005,000 | $102,692 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 39 | $4,005,000 | $102,692 |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Farmers-Merchants Bank of Illinois | 100 East Main Street Melvin, IL 60952 | Full Service B&M | $18,209 |
| Farmers-Merchants Bank of Illinois | 101 North Taft Street Paxton, IL 60957 | Full Service B&M | $86,332 |
| Farmers-Merchants Bank of Illinois | 101 W Main St. Joy, IL 61260 | Full Service B&M | $59,559 |
| Farmers-Merchants Bank of Illinois | 116 South Pine Street Piper City, IL 60959 | Full Service B&M | $6,625 |
| Farmers-Merchants Bank of Illinois | 412 Main Street New Boston, IL 61272 | Full Service B&M | $7,157 |
For 2020, Farmers-merchants Bank Of Illinois had 5 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $8,448 |
| Net interest income | $6,770 |
| Total noninterest income | $831 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $215 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $616 |
| Pre-tax net operating income | $3,186 |
| Securities gains (or losses, -) | $441 |
| Income before extraordinary items | $2,783 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $2,783 |
| Minority interest net income | $0 |
| Net income | $2,783 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $2,434 |
Farmers-merchants Bank Of Illinois's gross interest income from loans was $8,448,000.
Farmers-merchants Bank Of Illinois's net interest income from loans was $6,770,000.
Farmers-merchants Bank Of Illinois's fee based income from loans was $215,000.
Farmers-merchants Bank Of Illinois's net income from loans was $2,783,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $1,678 |
| Provision for credit losses | $415 |
| Total noninterest expense | $4,000 |
| Salaries and employee benefits | $2,213 |
| Premises and equipment expense | $203 |
| Additional noninterest expense | $1,584 |
| Applicable income taxes | $844 |
| Net charge-offs | $170 |
| Cash dividends | $0 |
Farmers-merchants Bank Of Illinois's interest expense for loans was $1,678,000.
Farmers-merchants Bank Of Illinois's payroll and benefits expense were $2,213,000.
Farmers-merchants Bank Of Illinois's property, plant and equipment expenses $203,000.
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 | 4.0% |
| HELOC loans | 0.0% |
| All other family | 4.0% |
| Commercial & industrial loans | 7.0% |
| Personal loans | 0.0% |
| Credit card loans | 0.0% |
| Other individual loans | 0.0% |
| Auto loans | 1.0% |
| Other consumer loans | 0.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $192,667 |
| Deposits held in domestic offices | $192,667 |
| Deposits by Individuals, partnerships, and corporations | $173,138 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $19,265 |
| Deposits by Commercial banks and other depository institutions in U.S. | $264 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $79,736 |
| Demand deposits | $57,278 |
| Nontransaction accounts | $112,931 |
| Money market deposit accounts (MMDAs) | $18,999 |
| Other savings deposits (excluding MMDAs) | $21,827 |
| Total time deposits | $72,106 |
| Total time and savings deposits | $135,389 |
| Noninterest-bearing deposits | $25,994 |
| Interest-bearing deposits | $166,673 |
| Retail deposits | $161,724 |
| IRAs and Keogh plan accounts | $10,555 |
| Brokered deposits | $20,008 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $258,204 |
| Cash & Balances due from depository institutions | $2,499 |
| Interest-bearing balances | $1,003 |
| Total securities | $14,016 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $225,992 |
| Loan and leases loss allowance | $700 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $1,419 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $9,256 |
| All other assets | $5,022 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $258,204 |
| Total Liabilities | $224,188 |
| Total deposits | $192,667 |
| Interest-bearing deposits | $166,673 |
| Deposits held in domestic offices | $192,667 |
| % insured (estimated) | $86 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $28,201 |
| Subordinated debt | $0 |
| All other liabilities | $3,320 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $225,992 |
| Loan and leases loss allowance | $700 |
| Total loans and leases (domestic) | $226,692 |
| All real estate loans | $124,199 |
| Real estate loans in domestic offices | $124,199 |
| Construction and development loans | $9,813 |
| Residential 1-4 family construction | $0 |
| Other construction, all land development and other land | $9,813 |
| Loans secured by nonfarm nonresidential properties | $14,821 |
| Nonfarm nonresidential secured by owner-occupied properties | $4,041 |
| Commercial real estate & other non-farm, non-residential | $10,780 |
| Multifamily residential real estate | $62,122 |
| 1-4 family residential loans | $12,214 |
| Farmland loans | $25,229 |
| Loans held in foreign offices | $0 |
| Farm loans | $13,368 |
| Commercial and industrial loans | $3,052 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $2,233 |
| Credit card loans | $0 |
| Related Plans | $24 |
| Consumer Auto Loans | $1,310 |
| Other loans to individuals | $899 |
| All other loans & leases | $83,840 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $288 |
| Loans to depository institutions and acceptances of other banks | $83,436 |
| 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 |
Farmers-Merchants Bank of Illinois had $225,992,000 of loans outstanding in 2020. $124,199,000 of loans were in real estate loans. $9,813,000 of loans were in development loans. $62,122,000 of loans were in multifamily mortgage loans. $12,214,000 of loans were in 1-4 family mortgage loans. $13,368,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,310,000 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 | 60 | $4,585 | $76,417 |
| Nonfarm, nonresidential loans - <$100k | 46 | $1,448 | $31,478 |
| Nonfarm, nonresidential loans - $100-250k | 7 | $862 | $123,143 |
| Nonfarm, nonresidential loans - $250k-1MM | 7 | $2,275 | $325,000 |
| Commercial & Industrial, US addressed loans - <$1MM | 69 | $3,052 | $44,232 |
| Commercial & Industrial, US addressed loans - <$100k | 54 | $1,023 | $18,944 |
| Commercial & Industrial, US addressed loans - $100-250k | 10 | $811 | $81,100 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 5 | $1,218 | $243,600 |
| Farmland loans - <$1MM | 77 | $9,880 | $128,312 |
| Farmland loans - <$100k | 30 | $1,073 | $35,767 |
| Farmland loans - $100-250k | 30 | $3,524 | $117,467 |
| Farmland loans - $250k-1MM | 17 | $5,283 | $310,765 |
| Agriculture operations loans - <$1MM | 172 | $10,022 | $58,267 |
| Agriculture operations loans - <$100k | 112 | $2,390 | $21,339 |
| Agriculture operations loans - $100-250k | 51 | $4,885 | $95,784 |
| Agriculture operations loans - $250k-1MM | 9 | $2,747 | $305,222 |