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 markets by origination volume include: Davenport, Pontiac, Poplar Bluff, Champaign, and Rockford among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)Farmers-merchants Bank Of Illinois has an 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
31Origination Dollar Volume (All Markets)
$3,145,000Employee count
30Top 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 | 14 | $1,720,000 | $122,857 | $0 | 0.00% |
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 9 | $655,000 | $72,778 | $0 | 0.00% |
| Pontiac, IL (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $0 | 0.00% |
| Poplar Bluff, MO (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $0 | 0.00% |
| CHAMPAIGN-URBANA, IL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| ROCKFORD, IL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| Muscatine, IA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.00% |
| Macomb, IL (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 31 | $3,145,000 | $101,452 | $0 | 0.00% |
For 2021, Farmers-merchants Bank Of Illinois's most frequently originated type of loan was Conventional, with 31 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 13 | $1,225,000 | $94,231 | $0 | 0.00% |
| Cash Out Refi | 13 | $1,375,000 | $105,769 | $0 | 0.00% |
| Refi | 5 | $545,000 | $109,000 | $0 | 0.00% |
For 2021, Farmers-merchants Bank Of Illinois's most frequently cited loan purpose was Home Purchase, with 13 originations. The 2nd most popular reason was Cash Out Refi, with 13 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 31 | $3,145,000 | $101,452 | $0 | 0.00% |
For 2021, Farmers-merchants Bank Of Illinois's most frequently cited loan duration was Other, with 31 originations.
Loan Sizing
2021 saw Farmers-merchants Bank Of Illinois place emphasis on $100,000 or less loans with 17 originations, totaling $985,000 in origination value.
Applicant Income
Farmers-merchants Bank Of Illinois lent most frequently to those with incomes in the $50k-75k range, with 10 originations. The second most popular income band? $50k or less, with 9 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 31 | $3,145,000 | $101,452 | $0 | 0.00% |
Farmers-merchants Bank Of Illinois lent most frequently to those with DTI ratios of Exempt%, with 31 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications79.31%
Farmers-merchants Bank Of Illinois has a below average approval rate.
Pick Rate
Approvals leading to origination54.84%
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 | 31 | $3,145,000 | $101,452 |
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 | $22,853 |
| Farmers-Merchants Bank of Illinois | 101 North Taft Street Paxton, IL 60957 | Full Service B&M | $108,347 |
| Farmers-Merchants Bank of Illinois | 101 W Main St. Joy, IL 61260 | Full Service B&M | $72,899 |
| Farmers-Merchants Bank of Illinois | 116 South Pine Street Piper City, IL 60959 | Full Service B&M | $8,315 |
For 2021, Farmers-merchants Bank Of Illinois had 4 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $9,418 |
| Net interest income | $8,226 |
| Total noninterest income | $962 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $257 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $705 |
| Pre-tax net operating income | $5,296 |
| Securities gains (or losses, -) | $191 |
| Income before extraordinary items | $4,144 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $4,144 |
| Minority interest net income | $0 |
| Net income | $4,144 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $3,993 |
Farmers-merchants Bank Of Illinois's gross interest income from loans was $9,418,000.
Farmers-merchants Bank Of Illinois's net interest income from loans was $8,226,000.
Farmers-merchants Bank Of Illinois's fee based income from loans was $257,000.
Farmers-merchants Bank Of Illinois's net income from loans was $4,144,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $1,192 |
| Provision for credit losses | $179 |
| Total noninterest expense | $3,713 |
| Salaries and employee benefits | $1,997 |
| Premises and equipment expense | $269 |
| Additional noninterest expense | $1,447 |
| Applicable income taxes | $1,343 |
| Net charge-offs | $8 |
| Cash dividends | $0 |
Farmers-merchants Bank Of Illinois's interest expense for loans was $1,192,000.
Farmers-merchants Bank Of Illinois's payroll and benefits expense were $1,997,000.
Farmers-merchants Bank Of Illinois's property, plant and equipment expenses $269,000.
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 | 3.0% |
| HELOC loans | 0.0% |
| All other family | 3.0% |
| Commercial & industrial loans | 0.0% |
| Personal loans | 2.0% |
| Credit card loans | 0.0% |
| Other individual loans | 2.0% |
| Auto loans | 3.0% |
| Other consumer loans | 0.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $210,646 |
| Deposits held in domestic offices | $210,646 |
| Deposits by Individuals, partnerships, and corporations | $184,567 |
| Deposits by U.S. Government | $5 |
| Deposits by States and political subdivisions in the U.S. | $25,540 |
| Deposits by Commercial banks and other depository institutions in U.S. | $535 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $64,352 |
| Demand deposits | $38,256 |
| Nontransaction accounts | $146,295 |
| Money market deposit accounts (MMDAs) | $53,427 |
| Other savings deposits (excluding MMDAs) | $24,461 |
| Total time deposits | $68,406 |
| Total time and savings deposits | $172,391 |
| Noninterest-bearing deposits | $28,346 |
| Interest-bearing deposits | $182,300 |
| Retail deposits | $172,478 |
| IRAs and Keogh plan accounts | $10,619 |
| Brokered deposits | $30,011 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $308,943 |
| Cash & Balances due from depository institutions | $3,777 |
| Interest-bearing balances | $2,061 |
| Total securities | $8,752 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $280,920 |
| Loan and leases loss allowance | $871 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $1,540 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $8,898 |
| All other assets | $5,056 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $308,943 |
| Total Liabilities | $271,072 |
| Total deposits | $210,646 |
| Interest-bearing deposits | $182,300 |
| Deposits held in domestic offices | $210,646 |
| % insured (estimated) | $92 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $56,176 |
| Subordinated debt | $0 |
| All other liabilities | $4,250 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $280,920 |
| Loan and leases loss allowance | $871 |
| Total loans and leases (domestic) | $281,791 |
| All real estate loans | $143,094 |
| Real estate loans in domestic offices | $143,094 |
| Construction and development loans | $9,068 |
| Residential 1-4 family construction | $0 |
| Other construction, all land development and other land | $9,068 |
| Loans secured by nonfarm nonresidential properties | $12,556 |
| Nonfarm nonresidential secured by owner-occupied properties | $2,716 |
| Commercial real estate & other non-farm, non-residential | $9,840 |
| Multifamily residential real estate | $87,545 |
| 1-4 family residential loans | $10,033 |
| Farmland loans | $23,892 |
| Loans held in foreign offices | $0 |
| Farm loans | $14,600 |
| Commercial and industrial loans | $2,584 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $1,738 |
| Credit card loans | $0 |
| Related Plans | $20 |
| Consumer Auto Loans | $984 |
| Other loans to individuals | $734 |
| All other loans & leases | $119,775 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $119,341 |
| 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 |
Farmers-Merchants Bank of Illinois had $280,920,000 of loans outstanding in 2021. $143,094,000 of loans were in real estate loans. $9,068,000 of loans were in development loans. $87,545,000 of loans were in multifamily mortgage loans. $10,033,000 of loans were in 1-4 family mortgage loans. $14,600,000 of loans were in farm loans. $0 of loans were in credit card loans. $984,000 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 | 51 | $3,233 | $63,392 |
| Nonfarm, nonresidential loans - <$100k | 38 | $1,073 | $28,237 |
| Nonfarm, nonresidential loans - $100-250k | 9 | $1,024 | $113,778 |
| Nonfarm, nonresidential loans - $250k-1MM | 4 | $1,136 | $284,000 |
| Commercial & Industrial, US addressed loans - <$1MM | 55 | $2,584 | $46,982 |
| Commercial & Industrial, US addressed loans - <$100k | 38 | $565 | $14,868 |
| Commercial & Industrial, US addressed loans - $100-250k | 11 | $451 | $41,000 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 6 | $1,568 | $261,333 |
| Farmland loans - <$1MM | 73 | $8,842 | $121,123 |
| Farmland loans - <$100k | 29 | $1,134 | $39,103 |
| Farmland loans - $100-250k | 25 | $2,992 | $119,680 |
| Farmland loans - $250k-1MM | 19 | $4,716 | $248,211 |
| Agriculture operations loans - <$1MM | 135 | $7,258 | $53,763 |
| Agriculture operations loans - <$100k | 91 | $2,230 | $24,505 |
| Agriculture operations loans - $100-250k | 32 | $2,739 | $85,594 |
| Agriculture operations loans - $250k-1MM | 12 | $2,289 | $190,750 |