F & M Bank Corp. Mortgage Rates, Fees & Info
TIMBERVILLE, VALEI: 549300V2YLC1I721HE07
Tax ID: 54-0208040
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Review & Overview
F & M Bank Corp. is a smaller bank specializing in Home Purchase 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 by origination volume include: Harrisonburg, Staunton, Washington, Lynchburg, and Charlottesville among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)F & M Bank Corp. 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. F & M Bank Corp. is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.78% | 11/17/24 |
| 30 Year Conventional Refi | 6.69% | 11/17/24 |
| 30 Year FHA Purchase | 7.49% | 11/17/24 |
| 30 Year FHA Refi | 7.54% | 11/17/24 |
| 30 Year VA Purchase | 6.67% | 11/17/24 |
| 30 Year USDA Purchase | 6.23% | 11/17/24 |
| 15 Year Conventional Purchase | 6.13% | 11/17/24 |
| 15 Year Conventional Refi | 6.37% | 11/17/24 |
| 15 Year Cash-out Refi | 6.37% | 11/17/24 |
| 15 Year VA Purchase | 6.23% | 11/17/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
F & M Bank Corp. Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
576Origination Dollar Volume (All Markets)
$106,130,000Employee count
156Awards
F & M BANK CORP. - 2018
F & M BANK CORP. is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| HARRISONBURG, VA (FHA|USDA|VA) | 332 | $58,780,000 | $177,048 | $3,339 | 4.70% |
| STAUNTON, VA (FHA|USDA|VA) | 109 | $20,705,000 | $189,954 | $3,974 | 4.75% |
| Outside of Metro Areas | 105 | $20,025,000 | $190,714 | $3,365 | 4.73% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 8 | $2,100,000 | $262,500 | $4,477 | 4.66% |
| LYNCHBURG, VA (FHA|USDA|VA) | 8 | $1,520,000 | $190,000 | $3,491 | 4.41% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 4 | $910,000 | $227,500 | $2,824 | 4.56% |
| RICHMOND, VA (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $3,492 | 4.75% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $3,599 | 4.63% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $3,177 | 4.38% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $3,622 | 5.13% |
| Easton, MD (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,120 | 4.38% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $3,451 | 4.88% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,638 | 4.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against F & M BANK CORP. based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2018, F & M Bank Corp.'s most frequently originated type of loan was Conventional, with 475 originations. Their 2nd most popular type was FHA, with 55 originations.
Loan Reason
For 2018, F & M Bank Corp.'s most frequently cited loan purpose was Home Purchase, with 465 originations. The 2nd most popular reason was Refi, with 75 originations.
Loan Duration/Length
For 2018, F & M Bank Corp.'s most frequently cited loan duration was 30 Year, with 468 originations. The 2nd most popular length was 20 Year, with 51 originations.
Origination Fees/Closing Costs
F & M Bank Corp.'s average total fees were $3,678, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 255 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 402 | $78,580,000 | $195,473 |
| 5-6% | 71 | $10,125,000 | $142,606 |
| 3-4% | 32 | $7,290,000 | $227,813 |
| 6-7% | 4 | $850,000 | $212,500 |
During 2018, F & M Bank Corp.'s average interest rate for loans was 4.70%, while their most frequently originated rate bucket for loans was 4-5%, with 402 originations.
Loan Sizing
2018 saw F & M Bank Corp. place emphasis on $100k-200k loans with 270 originations, totaling $41,120,000 in origination value.
Applicant Income
F & M Bank Corp. lent most frequently to those with incomes in the $50k or less range, with 172 originations. The second most popular income band? $50k-75k, with 141 originations.
Applicant Debt to Income Ratio
F & M Bank Corp. lent most frequently to those with DTI ratios of 20-30%, with 121 originations. The next most common DTI ratio? 30-36%, with 115 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.37%
F & M Bank Corp. has an average approval rate.
Pick Rate
Approvals leading to origination78.47%
F & M Bank Corp. has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 576 | $106,130,000 | $184,253 |
Occupancy Type Mix
LTV Distribution
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Farmers & Merchants Bank | 100 Plaza Drive Bridgewater, VA 22812 | Full Service B&M | $70,457 |
| Farmers & Merchants Bank | 120 South Main Street Edinburg, VA 22824 | Full Service B&M | $51,111 |
| Farmers & Merchants Bank | 125 W. Craig Street Craigsville, VA 24430 | Full Service B&M | $6,090 |
| Farmers & Merchants Bank | 126 North Timber Way Broadway, VA 22815 | Full Service B&M | $68,017 |
| Farmers & Merchants Bank | 127 Rockingham Street Elkton, VA 22827 | Full Service B&M | $62,451 |
| Farmers & Merchants Bank | 161 South Main Street Woodstock, VA 22664 | Full Service B&M | $42,580 |
| Farmers & Merchants Bank | 165 New Market Timberville, VA 22853 | Full Service B&M | $139,958 |
| Farmers & Merchants Bank | 200 Augusta Avenue Grottoes, VA 24441 | Full Service B&M | $3,014 |
| Farmers & Merchants Bank | 2030 Legacy Lane Harrisonburg, VA 22801 | Full Service B&M | $31,705 |
| Farmers & Merchants Bank | 2813 N Augusta Street Staunton, VA 24401 | Full Service B&M | $10,793 |
| Farmers & Merchants Bank | 30 Gosnell Crossing Staunton, VA 24401 | Full Service B&M | $6,774 |
| Farmers & Merchants Bank | 700 East Main Street Luray, VA 22835 | Full Service B&M | $11,120 |
| Farmers & Merchants Bank | 80 Cross Keys Road Harrisonburg, VA 22801 | Full Service B&M | $64,666 |
For 2018, F & M Bank Corp. had 13 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $36,708 |
| Net interest income | $31,876 |
| Total noninterest income | $7,020 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $1,496 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $5,524 |
| Pre-tax net operating income | $10,139 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $9,061 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $9,061 |
| Minority interest net income | $10 |
| Net income | $9,051 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $9,061 |
F & M Bank Corp.'s gross interest income from loans was $36,708,000.
F & M Bank Corp.'s net interest income from loans was $31,876,000.
F & M Bank Corp.'s fee based income from loans was $1,496,000.
F & M Bank Corp.'s net income from loans was $9,051,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $4,832 |
| Provision for credit losses | $2,930 |
| Total noninterest expense | $25,827 |
| Salaries and employee benefits | $15,735 |
| Premises and equipment expense | $2,072 |
| Additional noninterest expense | $8,020 |
| Applicable income taxes | $1,078 |
| Net charge-offs | $3,734 |
| Cash dividends | $8,874 |
F & M Bank Corp.'s interest expense for loans was $4,832,000.
F & M Bank Corp.'s payroll and benefits expense were $15,735,000.
F & M Bank Corp.'s property, plant and equipment expenses $2,072,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 1.0% |
| Real Estate loans | 2.0% |
| Construction & Land Development loans | 3.0% |
| Nonfarm, nonresidential loans | 3.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 0.0% |
| HELOC loans | 0.0% |
| All other family | 1.0% |
| Commercial & industrial loans | 0.0% |
| Personal loans | 0.0% |
| Credit card loans | 0.3% |
| Other individual loans | 0.0% |
| Auto loans | 0.0% |
| Other consumer loans | 0.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $592,058 |
| Deposits held in domestic offices | $592,058 |
| Deposits by Individuals, partnerships, and corporations | $583,930 |
| Deposits by U.S. Government | $3 |
| Deposits by States and political subdivisions in the U.S. | $8,125 |
| 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 | $74,979 |
| Demand deposits | $47,585 |
| Nontransaction accounts | $517,079 |
| Money market deposit accounts (MMDAs) | $249,386 |
| Other savings deposits (excluding MMDAs) | $111,827 |
| Total time deposits | $155,865 |
| Total time and savings deposits | $544,473 |
| Noninterest-bearing deposits | $47,585 |
| Interest-bearing deposits | $544,473 |
| Retail deposits | $577,640 |
| IRAs and Keogh plan accounts | $23,832 |
| Brokered deposits | $7,898 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $778,632 |
| Cash & Balances due from depository institutions | $10,614 |
| Interest-bearing balances | $1,374 |
| Total securities | $8,412 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $689,469 |
| Loan and leases loss allowance | $5,240 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $17,386 |
| Other real estate owned | $2,443 |
| Goodwill and other intangibles | $2,791 |
| All other assets | $47,517 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $778,632 |
| Total Liabilities | $688,894 |
| Total deposits | $592,058 |
| Interest-bearing deposits | $544,473 |
| Deposits held in domestic offices | $592,058 |
| % insured (estimated) | $93 |
| Federal funds purchased and repurchase agreements | $10,116 |
| Trading liabilities | $0 |
| Other borrowed funds | $70,210 |
| Subordinated debt | $0 |
| All other liabilities | $16,510 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $689,469 |
| Loan and leases loss allowance | $5,240 |
| Total loans and leases (domestic) | $694,709 |
| All real estate loans | $495,754 |
| Real estate loans in domestic offices | $495,754 |
| Construction and development loans | $61,659 |
| Residential 1-4 family construction | $18,420 |
| Other construction, all land development and other land | $43,239 |
| Loans secured by nonfarm nonresidential properties | $147,343 |
| Nonfarm nonresidential secured by owner-occupied properties | $78,682 |
| Commercial real estate & other non-farm, non-residential | $68,661 |
| Multifamily residential real estate | $9,665 |
| 1-4 family residential loans | $260,058 |
| Farmland loans | $17,029 |
| Loans held in foreign offices | $0 |
| Farm loans | $3,887 |
| Commercial and industrial loans | $31,698 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $104,397 |
| Credit card loans | $3,184 |
| Related Plans | $84 |
| Consumer Auto Loans | $81,650 |
| Other loans to individuals | $19,479 |
| All other loans & leases | $58,973 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $52,502 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $1,344 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $5,090 |
| Non 1-4 family restructured loans & leases | $4,206 |
| Total loans and leases (foreign) | $0 |
F & M BANK CORP. had $689,469,000 of loans outstanding in 2018. $495,754,000 of loans were in real estate loans. $61,659,000 of loans were in development loans. $9,665,000 of loans were in multifamily mortgage loans. $260,058,000 of loans were in 1-4 family mortgage loans. $3,887,000 of loans were in farm loans. $3,184,000 of loans were in credit card loans. $81,650,000 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 | 213 | $51,741 | $242,915 |
| Nonfarm, nonresidential loans - <$100k | 38 | $1,880 | $49,474 |
| Nonfarm, nonresidential loans - $100-250k | 75 | $9,625 | $128,333 |
| Nonfarm, nonresidential loans - $250k-1MM | 100 | $40,236 | $402,360 |
| Commercial & Industrial, US addressed loans - <$1MM | 511 | $26,747 | $52,342 |
| Commercial & Industrial, US addressed loans - <$100k | 385 | $8,623 | $22,397 |
| Commercial & Industrial, US addressed loans - $100-250k | 82 | $7,692 | $93,805 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 44 | $10,432 | $237,091 |
| Farmland loans - <$1MM | 40 | $5,152 | $128,800 |
| Farmland loans - <$100k | 14 | $559 | $39,929 |
| Farmland loans - $100-250k | 14 | $1,334 | $95,286 |
| Farmland loans - $250k-1MM | 12 | $3,259 | $271,583 |
| Agriculture operations loans - <$1MM | 94 | $3,887 | $41,351 |
| Agriculture operations loans - <$100k | 75 | $1,385 | $18,467 |
| Agriculture operations loans - $100-250k | 11 | $1,265 | $115,000 |
| Agriculture operations loans - $250k-1MM | 8 | $1,237 | $154,625 |