F & M Bank Corp. Mortgage Rates, Fees & Info
TIMBERVILLE, VA
LEI: 549300V2YLC1I721HE07
Tax ID: 54-0208040
5 stars
-
out of 5 stars, based on 29 reviews
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Mortgage Data
Bank Data
Overview
F & M Bank Corp. is a
smaller
bank
specializing in
Home Purchase and Refi loans.
F & M Bank Corp. has a high proportion of conventional loans.
They have an average proportion of FHA loans.
They have a low ratio of USDA loans.
Their top markets include Harrisonburg, Staunton, Washington, Charlottesville, and Lynchburg among others. F & M Bank Corp. has
an above average
approval rate for mortages when compared nationally.
They have
a below average
pick rate when compared to the same sample of other lendors.
F & M Bank Corp. is typically
an average fee
lendor.
Originations
839
Origination Dollar Volume (All Markets)
$178,165,000
Employee count
137
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F & M BANK CORP. - 2021
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Relative Rate
F & M Bank Corp.'s average 30 year fixed rate mortgage of loans were
3.14%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.01%.
Relative Fees
F & M Bank Corp.'s average total fees for a 30 year fixed rate
mortgage are $3,799.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
Market |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
HARRISONBURG, VA (FHA|USDA|VA)
|
471
|
$101,205,000 |
$214,873 |
$3,495 |
3.07% |
STAUNTON, VA (FHA|USDA|VA)
|
142
|
$29,190,000 |
$205,563 |
$3,943 |
3.15% |
Outside of Metro Areas
|
144 |
$28,530,000 |
$198,125 |
$3,327 |
3.08% |
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA)
|
14
|
$3,990,000 |
$285,000 |
$4,205 |
2.96% |
CHARLOTTESVILLE, VA (FHA|USDA|VA)
|
12
|
$3,480,000 |
$290,000 |
$4,460 |
2.95% |
LYNCHBURG, VA (FHA|USDA|VA)
|
15
|
$3,125,000 |
$208,333 |
$3,000 |
3.15% |
WINCHESTER, VA-WV (FHA|USDA|VA)
|
7
|
$1,945,000 |
$277,857 |
$3,537 |
3.04% |
RICHMOND, VA (FHA|USDA|VA)
|
7
|
$1,615,000 |
$230,714 |
$4,841 |
3.20% |
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA)
|
4
|
$670,000 |
$167,500 |
$5,532 |
3.16% |
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA)
|
2
|
$670,000 |
$335,000 |
$0 |
0.00% |
BECKLEY, WV (FHA|USDA|VA)
|
4
|
$640,000 |
$160,000 |
$3,213 |
3.00% |
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA)
|
1
|
$515,000 |
$515,000 |
$4,091 |
2.88% |
ROANOKE, VA (FHA|USDA|VA)
|
3
|
$325,000 |
$108,333 |
$2,621 |
2.96% |
Kill Devil Hills, NC (FHA|USDA|VA)
|
1
|
$315,000 |
$315,000 |
$3,529 |
2.63% |
FAYETTEVILLE, NC (FHA|USDA|VA)
|
1
|
$225,000 |
$225,000 |
$11,130 |
3.25% |
Shelby, NC (FHA|USDA|VA)
|
1
|
$215,000 |
$215,000 |
$2,901 |
3.25% |
JACKSONVILLE, NC (FHA|USDA|VA)
|
1
|
$215,000 |
$215,000 |
$2,991 |
3.25% |
Marion, NC (FHA|USDA|VA)
|
1
|
$205,000 |
$205,000 |
$3,844 |
3.50% |
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA)
|
1
|
$205,000 |
$205,000 |
$6,811 |
3.75% |
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA)
|
1
|
$205,000 |
$205,000 |
$6,406 |
2.75% |
Roanoke Rapids, NC (FHA|USDA|VA)
|
1
|
$155,000 |
$155,000 |
$4,378 |
2.50% |
RALEIGH-CARY, NC (FHA|USDA|VA)
|
1
|
$135,000 |
$135,000 |
$4,448 |
3.13% |
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA)
|
1
|
$125,000 |
$125,000 |
$0 |
0.00% |
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA)
|
1
|
$125,000 |
$125,000 |
$5,722 |
2.63% |
NEW BERN, NC (FHA|USDA|VA)
|
1
|
$105,000 |
$105,000 |
$2,865 |
3.75% |
HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA)
|
1
|
$35,000 |
$35,000 |
$0 |
3.25% |
F & M Bank Corp.'s top markets include Harrisonburg, Staunton, Washington, Charlottesville, and Lynchburg among others.
Product Mix
Loan Type |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
Conventional |
736 |
$155,950,000 |
$211,889 |
$3,062 |
3.07% |
FHA |
82 |
$17,200,000 |
$209,756 |
$7,050 |
3.24% |
USDA |
15 |
$3,145,000 |
$209,667 |
$5,473 |
2.90% |
VA |
6 |
$1,870,000 |
$311,667 |
$8,976 |
3.00% |
For the 2021 period, F & M Bank Corp.'s most frequently
originated loan type
of loans were Conventional, with 736 originations.
Their 2nd most popular type is FHA,
with 82 originations.
Loan Reason
Loan Reason |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
Home Purchase |
516 |
$115,260,000 |
$223,372 |
$3,998 |
3.14% |
Refi |
313 |
$61,845,000 |
$197,588 |
$2,976 |
2.96% |
Home Improvement |
7 |
$885,000 |
$126,429 |
$1,533 |
4.12% |
Other |
3 |
$175,000 |
$58,333 |
$439 |
4.82% |
For the 2021, F & M Bank Corp.'s most frequently cited loan
purpose
of loans were Home Purchase, with 516
originations.
The 2nd most popular reason of loans were Refi,
with 313 originations.
Loan Duration/Length
Loan Length |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
30 Year |
650 |
$146,360,000 |
$225,169 |
$3,799 |
3.14% |
15 Year |
101 |
$16,695,000 |
$165,297 |
$2,741 |
2.49% |
20 Year |
46 |
$8,790,000 |
$191,087 |
$3,228 |
2.95% |
Other |
31 |
$5,495,000 |
$177,258 |
$2,132 |
3.56% |
10 Year |
8 |
$660,000 |
$82,500 |
$1,136 |
4.28% |
5 Year |
2 |
$100,000 |
$50,000 |
$1,671 |
3.99% |
3 Year |
1 |
$65,000 |
$65,000 |
$519 |
3.99% |
For the 2021, F & M Bank Corp.'s most frequently cited loan
length
of loans were 30 Year, with 650 originations.
The 2nd most popular length of loans were 15 Year,
with 101 originations.
Origination Fees
Origination Fee |
Originations |
Total Value |
Average Loan |
$<1k |
362 |
$76,160,000 |
$210,387 |
$1k-2k |
295 |
$63,235,000 |
$214,356 |
$2k-3k |
45 |
$12,185,000 |
$270,778 |
$3k-4k |
24 |
$6,210,000 |
$258,750 |
$5k+ |
14 |
$5,010,000 |
$357,857 |
$3,799 of loans were F & M Bank Corp.'s
average total fees, while their most
frequently occuring range of origination fees were in the
$<1k bucket,
with 362 originations.
Interest Rates
Loan Rate |
Originations |
Total Value |
Average Loan |
3-4% |
365 |
$76,925,000 |
$210,753 |
2.5-3% |
307 |
$71,075,000 |
$231,515 |
<2.5% |
89 |
$18,455,000 |
$207,360 |
4-5% |
19 |
$2,855,000 |
$150,263 |
5-6% |
2 |
$70,000 |
$35,000 |
During 2021, F & M Bank Corp.'s average interest
rate of loans were 3.14%, while their
most frequently originated rate bucket of loans were 3-4%,
with 365 originations.
Loan Sizing
Loan Size |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
$200k-400k |
373 |
$99,755,000 |
$267,440 |
$4,101 |
3.06% |
$100k-200k |
336 |
$52,510,000 |
$156,280 |
$3,256 |
3.06% |
$100,000 or less |
85 |
$4,605,000 |
$54,176 |
$1,595 |
3.39% |
$400k-600k |
44 |
$20,480,000 |
$465,455 |
$4,552 |
2.95% |
$600k-1MM |
1 |
$815,000 |
$815,000 |
$2,772 |
3.25% |
2021 saw F & M Bank Corp. place emphasis on
$200k-400k loans
with 373 originations, totaling
$99,755,000 in origination value.
Applicant Income
Applicant Income |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
$50k-75k |
241 |
$46,775,000 |
$194,087 |
$3,676 |
3.11% |
$50k or less |
189 |
$28,165,000 |
$149,021 |
$3,376 |
3.11% |
$75k-100k |
162 |
$37,610,000 |
$232,160 |
$3,584 |
3.08% |
$100k-150k |
131 |
$36,175,000 |
$276,145 |
$3,817 |
3.02% |
$150k-250k |
51 |
$16,035,000 |
$314,412 |
$3,468 |
2.92% |
$250k+ |
23 |
$6,925,000 |
$301,087 |
$4,377 |
3.35% |
F & M Bank Corp. lent most frequently to those with incomes in the
$50k-75k range, with
241 originations.
The second most popular income band? $50k or less,
with 189 originations.
Applicant Debt to Income Ratio
DTI Ratio |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
20-30% |
205 |
$44,965,000 |
$219,341 |
$3,324 |
3.02% |
30-36% |
168 |
$37,660,000 |
$224,167 |
$3,648 |
3.06% |
<20% |
79 |
$17,265,000 |
$218,544 |
$3,321 |
2.96% |
41% |
40 |
$8,100,000 |
$202,500 |
$4,078 |
3.12% |
37% |
37 |
$7,055,000 |
$190,676 |
$3,698 |
3.10% |
39% |
36 |
$6,060,000 |
$168,333 |
$3,033 |
3.24% |
38% |
30 |
$6,380,000 |
$212,667 |
$3,174 |
3.18% |
40% |
24 |
$5,120,000 |
$213,333 |
$3,207 |
3.33% |
36% |
24 |
$5,590,000 |
$232,917 |
$3,874 |
3.05% |
42% |
23 |
$5,155,000 |
$224,130 |
$3,322 |
3.01% |
43% |
22 |
$5,060,000 |
$230,000 |
$4,376 |
2.98% |
44% |
22 |
$4,380,000 |
$199,091 |
$3,475 |
3.26% |
50-60% |
18 |
$3,680,000 |
$204,444 |
$7,058 |
3.30% |
46% |
17 |
$4,075,000 |
$239,706 |
$4,082 |
3.01% |
47% |
13 |
$2,815,000 |
$216,538 |
$3,702 |
3.52% |
49% |
13 |
$2,365,000 |
$181,923 |
$4,054 |
2.87% |
45% |
12 |
$2,620,000 |
$218,333 |
$4,456 |
3.28% |
48% |
12 |
$2,960,000 |
$246,667 |
$3,417 |
3.32% |
>60% |
3 |
$515,000 |
$171,667 |
$3,849 |
3.99% |
F & M Bank Corp. lent most frequently to those with DTI ratios
of 20-30%, with
205 originations.
The next most common DTI ratio? 30-36%,
with 168 originations.
Ethnicity Mix
Applicant Ethnicity |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
White |
741 |
$159,245,000 |
$214,906 |
$3,551 |
3.08% |
Not applicable |
40 |
$6,030,000 |
$150,750 |
$0 |
0.00% |
Not provided |
21 |
$5,215,000 |
$248,333 |
$3,744 |
2.87% |
Black |
28 |
$4,840,000 |
$172,857 |
$4,119 |
3.15% |
Asian |
7 |
$2,325,000 |
$332,143 |
$5,854 |
3.28% |
American Indian |
2 |
$510,000 |
$255,000 |
$4,222 |
3.00% |
Approval Rates
Total approvals of all applications
93.74%
F & M Bank Corp. has an average approval rate.
Pick Rate
Approvals leading to origination
82.53%
F & M Bank Corp. has a below average pick rate.
Points and Fees
Points |
Originations |
Total Value |
Average Loan |
NA |
839 |
$178,165,000 |
$212,354 |
Occupancy Type Mix
Dwelling Type |
Originations |
Total Value |
Average Loan |
|
839 |
$178,165,000 |
$212,354 |
LTV Distribution
Loan to Value |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
20-40% |
40 |
$4,690,000 |
$117,250 |
$2,462 |
2.91% |
40-60% |
113 |
$19,545,000 |
$172,965 |
$3,017 |
2.94% |
60-80% |
333 |
$74,645,000 |
$224,159 |
$3,141 |
3.06% |
80-100% |
324 |
$77,720,000 |
$239,877 |
$4,491 |
3.12% |
Over 100% |
4 |
$1,150,000 |
$287,500 |
$10,218 |
3.09% |
Under 20% |
25 |
$415,000 |
$16,600 |
$466 |
3.60% |
Bank Details
Branches
Bank Name |
Branch |
Branch Type |
Deposits (000's) |
Farmers & Merchants Bank |
165 New Market Timberville, VA 22853 |
Full Service B&M
|
$182,525 |
Farmers & Merchants Bank |
100 Plaza Drive Bridgewater, VA 22812 |
Full Service B&M
|
$142,326 |
Farmers & Merchants Bank |
126 North Timber Way Broadway, VA 22815 |
Full Service B&M
|
$97,872 |
Farmers & Merchants Bank |
127 Rockingham Street Elkton, VA 22827 |
Full Service B&M
|
$99,805 |
Farmers & Merchants Bank |
161 South Main Street Woodstock, VA 22664 |
Full Service B&M
|
$70,025 |
Farmers & Merchants Bank |
2030 Legacy Lane Harrisonburg, VA 22801 |
Full Service B&M
|
$56,136 |
Farmers & Merchants Bank |
2701 West Main Street Waynesboro, VA 22980 |
Full Service B&M
|
$14,005 |
Farmers & Merchants Bank |
2782 Stuarts Draft Highway Stuarts Draft, VA 24477 |
Full Service B&M
|
$6,632 |
Farmers & Merchants Bank |
2813 N Augusta Street Staunton, VA 24401 |
Full Service B&M
|
$41,724 |
Farmers & Merchants Bank |
30 Gosnell Crossing Staunton, VA 24401 |
Full Service B&M
|
$32,946 |
Farmers & Merchants Bank |
320 Stoney Creek Blvd Edinburg, VA 22824 |
Full Service B&M
|
$68,709 |
Farmers & Merchants Bank |
45 E Boscawen Street Winchester, VA 22601 |
Full Service B&M
|
$20,718 |
Farmers & Merchants Bank |
80 Cross Keys Road Harrisonburg, VA 22801 |
Full Service B&M
|
$133,663 |
For 2021, F & M Bank Corp. had 13 branches.
Yearly Performance Overview
Bank Income
F & M Bank Corp.'s gross interest income from loans was $35,577,000.
F & M Bank Corp.'s net interest income from loans was $32,007,000.
F & M Bank Corp.'s fee based income from loans was $1,133,000.
F & M Bank Corp.'s net income from loans was $11,076,000.
Bank Expenses
Item |
Value (in 000's) |
Total interest expense |
$3,570 |
Provision for credit losses |
$-2,821 |
Total noninterest expense |
$31,707 |
Salaries and employee benefits |
$17,261 |
Premises and equipment expense |
$2,303 |
Additional noninterest expense |
$12,143 |
Applicable income taxes |
$1,400 |
Net charge-offs |
$-94 |
Cash dividends |
$2,232 |
F & M Bank Corp.'s interest expense for loans was $3,570,000.
F & M Bank Corp.'s payroll and benefits expense were $17,261,000.
F & M Bank Corp.'s property, plant and equipment expenses $2,303,000.
Deposits
Type |
Value (in 000's) |
Total deposits |
$1,091,989 |
Deposits held in domestic offices |
$1,091,989 |
Deposits by Individuals, partnerships, and corporations |
$1,073,198 |
Deposits by U.S. Government |
$0 |
Deposits by States and political subdivisions in the U.S. |
$18,791 |
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 |
$208,752 |
Demand deposits |
$95,437 |
Nontransaction accounts |
$883,237 |
Money market deposit accounts (MMDAs) |
$616,744 |
Other savings deposits (excluding MMDAs) |
$142,636 |
Total time deposits |
$123,857 |
Total time and savings deposits |
$996,552 |
Noninterest-bearing deposits |
$208,752 |
Interest-bearing deposits |
$883,237 |
Retail deposits |
$1,069,155 |
IRAs and Keogh plan accounts |
$24,097 |
Brokered deposits |
$19,508 |
Deposits held in foreign offices |
$0 |
Assets
Asset |
Value (in 000's) |
Total Assets |
$1,218,712 |
Cash & Balances due from depository institutions |
$11,391 |
Interest-bearing balances |
$2,875 |
Total securities |
$404,007 |
Federal funds sold & reverse repurchase |
$76,667 |
Net loans and leases |
$659,560 |
Loan and leases loss allowance |
$7,748 |
Trading account assets |
$0 |
Bank premises and fixed assets |
$17,851 |
Other real estate owned |
$0 |
Goodwill and other intangibles |
$3,001 |
All other assets |
$46,235 |
Liabilities
Liabilities |
Value (in 000's) |
Total liabilities and capital |
$1,218,712 |
Total Liabilities |
$1,117,162 |
Total deposits |
$1,091,989 |
Interest-bearing deposits |
$883,237 |
Deposits held in domestic offices |
$1,091,989 |
% insured (estimated) |
$82 |
Federal funds purchased and repurchase agreements |
$0 |
Trading liabilities |
$0 |
Other borrowed funds |
$10,000 |
Subordinated debt |
$0 |
All other liabilities |
$15,173 |
Issued Loan Types
Type |
Value (in 000's) |
Net loans and leases |
$659,560 |
Loan and leases loss allowance |
$7,748 |
Total loans and leases (domestic) |
$667,308 |
All real estate loans |
$504,979 |
Real estate loans in domestic offices |
$504,979 |
Construction and development loans |
$75,236 |
Residential 1-4 family construction |
$34,949 |
Other construction, all land development and other land |
$40,287 |
Loans secured by nonfarm nonresidential properties |
$163,564 |
Nonfarm nonresidential secured by owner-occupied properties |
$91,024 |
Commercial real estate & other non-farm, non-residential |
$72,540 |
Multifamily residential real estate |
$4,887 |
1-4 family residential loans |
$194,948 |
Farmland loans |
$66,344 |
Loans held in foreign offices |
$0 |
Farm loans |
$6,468 |
Commercial and industrial loans |
$37,198 |
To non-U.S. addressees |
$0 |
Loans to individuals |
$111,721 |
Credit card loans |
$3,000 |
Related Plans |
$56 |
Consumer Auto Loans |
$92,887 |
Other loans to individuals |
$15,778 |
All other loans & leases |
$7,218 |
Loans to foreign governments and official institutions |
$0 |
Other loans |
$158 |
Loans to depository institutions and acceptances of other banks |
$0 |
Loans not secured by real estate |
$449 |
Loans secured by real estate to non-U.S. addressees |
$0 |
Restructured Loans & leases |
$1,080 |
Non 1-4 family restructured loans & leases |
$971 |
Total loans and leases (foreign) |
$0 |
F & M BANK CORP. had $659,560,000 of loans outstanding in 2021. $504,979,000 of loans were in real estate loans.
$75,236,000 of loans were in development loans. $4,887,000 of loans were in multifamily mortgage loans.
$194,948,000 of loans were in 1-4 family mortgage loans. $6,468,000 of loans were in farm loans. $3,000,000
of loans were in credit card loans. $92,887,000 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 |
194 |
$51,461 |
$265,263 |
Nonfarm, nonresidential loans - <$100k |
30 |
$1,495 |
$49,833 |
Nonfarm, nonresidential loans - $100-250k |
65 |
$8,759 |
$134,754 |
Nonfarm, nonresidential loans - $250k-1MM |
99 |
$41,207 |
$416,232 |
Commercial & Industrial, US addressed loans - <$1MM |
591 |
$26,874 |
$45,472 |
Commercial & Industrial, US addressed loans - <$100k |
463 |
$9,452 |
$20,415 |
Commercial & Industrial, US addressed loans - $100-250k |
74 |
$6,586 |
$89,000 |
Commercial & Industrial, US addressed loans - $250k-1MM |
54 |
$10,836 |
$200,667 |
Farmland loans - <$1MM |
61 |
$10,489 |
$171,951 |
Farmland loans - <$100k |
13 |
$436 |
$33,538 |
Farmland loans - $100-250k |
24 |
$3,264 |
$136,000 |
Farmland loans - $250k-1MM |
24 |
$6,789 |
$282,875 |
Agriculture operations loans - <$1MM |
151 |
$6,468 |
$42,834 |
Agriculture operations loans - <$100k |
105 |
$1,854 |
$17,657 |
Agriculture operations loans - $100-250k |
30 |
$1,985 |
$66,167 |
Agriculture operations loans - $250k-1MM |
16 |
$2,629 |
$164,313 |