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. Their top markets by origination volume include: Harrisonburg, Staunton, Washington, Lynchburg, and Charlottesville among others. We have data for 20 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% | 4/21/24 |
| 30 Year Conventional Refi | 6.69% | 4/21/24 |
| 30 Year FHA Purchase | 7.49% | 4/21/24 |
| 30 Year FHA Refi | 7.54% | 4/21/24 |
| 30 Year VA Purchase | 6.67% | 4/21/24 |
| 30 Year USDA Purchase | 6.23% | 4/21/24 |
| 15 Year Conventional Purchase | 6.13% | 4/21/24 |
| 15 Year Conventional Refi | 6.37% | 4/21/24 |
| 15 Year Cash-out Refi | 6.37% | 4/21/24 |
| 15 Year VA Purchase | 6.23% | 4/21/24 |
| 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
653Origination Dollar Volume (All Markets)
$121,715,000Employee count
157Top 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) | 337 | $64,985,000 | $192,834 | $3,531 | 4.27% |
| STAUNTON, VA (FHA|USDA|VA) | 142 | $25,550,000 | $179,930 | $3,917 | 4.41% |
| Outside of Metro Areas | 122 | $20,860,000 | $170,984 | $3,962 | 4.37% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 8 | $2,290,000 | $286,250 | $5,845 | 3.94% |
| LYNCHBURG, VA (FHA|USDA|VA) | 12 | $1,960,000 | $163,333 | $4,217 | 4.28% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 6 | $1,380,000 | $230,000 | $4,909 | 4.04% |
| RICHMOND, VA (FHA|USDA|VA) | 6 | $1,290,000 | $215,000 | $4,743 | 4.25% |
| ROANOKE, VA (FHA|USDA|VA) | 4 | $650,000 | $162,500 | $3,620 | 4.50% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 3 | $635,000 | $211,667 | $5,378 | 4.29% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $3,997 | 4.50% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $7,736 | 4.31% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,883 | 4.75% |
| ERIE, PA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $7,986 | 5.00% |
| Marion, NC (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $6,990 | 3.38% |
| DuBois, PA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $7,549 | 3.75% |
| Danville, VA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $1,842 | 4.38% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,182 | 4.00% |
| Washington, NC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $6,312 | 4.63% |
| Roanoke Rapids, NC (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $5,963 | 5.00% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.00% |
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 2019, F & M Bank Corp.'s most frequently originated type of loan was Conventional, with 506 originations. Their 2nd most popular type was FHA, with 93 originations.
Loan Reason
For 2019, F & M Bank Corp.'s most frequently cited loan purpose was Home Purchase, with 510 originations. The 2nd most popular reason was Refi, with 122 originations.
Loan Duration/Length
For 2019, F & M Bank Corp.'s most frequently cited loan duration was 30 Year, with 530 originations. The 2nd most popular length was 15 Year, with 41 originations.
Origination Fees/Closing Costs
F & M Bank Corp.'s average total fees were $3,972, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 292 originations.
Interest Rates
During 2019, F & M Bank Corp.'s average interest rate for loans was 4.30%, while their most frequently originated rate bucket for loans was 4-5%, with 320 originations.
Loan Sizing
2019 saw F & M Bank Corp. place emphasis on $100k-200k loans with 305 originations, totaling $45,735,000 in origination value.
Applicant Income
F & M Bank Corp. lent most frequently to those with incomes in the $50k or less range, with 190 originations. The second most popular income band? $50k-75k, with 172 originations.
Applicant Debt to Income Ratio
F & M Bank Corp. lent most frequently to those with DTI ratios of 20-30%, with 137 originations. The next most common DTI ratio? 30-36%, with 132 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.79%
F & M Bank Corp. has an average approval rate.
Pick Rate
Approvals leading to origination77.95%
F & M Bank Corp. has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 653 | $121,715,000 | $186,394 |
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 | $79,546 |
| Farmers & Merchants Bank | 125 W. Craig Street Craigsville, VA 24430 | Full Service B&M | $6,651 |
| Farmers & Merchants Bank | 126 North Timber Way Broadway, VA 22815 | Full Service B&M | $73,416 |
| Farmers & Merchants Bank | 127 Rockingham Street Elkton, VA 22827 | Full Service B&M | $66,436 |
| Farmers & Merchants Bank | 161 South Main Street Woodstock, VA 22664 | Full Service B&M | $47,564 |
| Farmers & Merchants Bank | 165 New Market Timberville, VA 22853 | Full Service B&M | $138,548 |
| Farmers & Merchants Bank | 200 Augusta Avenue Grottoes, VA 24441 | Full Service B&M | $4,466 |
| Farmers & Merchants Bank | 2030 Legacy Lane Harrisonburg, VA 22801 | Full Service B&M | $35,554 |
| Farmers & Merchants Bank | 2813 N Augusta Street Staunton, VA 24401 | Full Service B&M | $12,929 |
| Farmers & Merchants Bank | 30 Gosnell Crossing Staunton, VA 24401 | Full Service B&M | $13,385 |
| Farmers & Merchants Bank | 320 Stoney Creek Blvd Edinburg, VA 22824 | Full Service B&M | $51,386 |
| Farmers & Merchants Bank | 700 East Main Street Luray, VA 22835 | Full Service B&M | $13,161 |
| Farmers & Merchants Bank | 80 Cross Keys Road Harrisonburg, VA 22801 | Full Service B&M | $67,711 |
For 2019, F & M Bank Corp. had 13 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $38,210 |
| Net interest income | $31,392 |
| Total noninterest income | $8,468 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $1,691 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $6,777 |
| Pre-tax net operating income | $4,281 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $4,572 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $4,572 |
| Minority interest net income | $130 |
| Net income | $4,442 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $4,572 |
F & M Bank Corp.'s gross interest income from loans was $38,210,000.
F & M Bank Corp.'s net interest income from loans was $31,392,000.
F & M Bank Corp.'s fee based income from loans was $1,691,000.
F & M Bank Corp.'s net income from loans was $4,442,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $6,818 |
| Provision for credit losses | $7,405 |
| Total noninterest expense | $28,174 |
| Salaries and employee benefits | $16,126 |
| Premises and equipment expense | $2,202 |
| Additional noninterest expense | $9,846 |
| Applicable income taxes | $-291 |
| Net charge-offs | $4,255 |
| Cash dividends | $6,000 |
F & M Bank Corp.'s interest expense for loans was $6,818,000.
F & M Bank Corp.'s payroll and benefits expense were $16,126,000.
F & M Bank Corp.'s property, plant and equipment expenses $2,202,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 0.0% |
| Real Estate loans | 1.0% |
| Construction & Land Development loans | 1.0% |
| Nonfarm, nonresidential loans | 0.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 0.0% |
| HELOC loans | 0.0% |
| All other family | 0.0% |
| Commercial & industrial loans | 0.0% |
| Personal loans | 0.0% |
| Credit card loans | 0.1% |
| 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 | $643,313 |
| Deposits held in domestic offices | $643,313 |
| Deposits by Individuals, partnerships, and corporations | $636,273 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $7,041 |
| 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 | $89,221 |
| Demand deposits | $53,889 |
| Nontransaction accounts | $554,093 |
| Money market deposit accounts (MMDAs) | $316,504 |
| Other savings deposits (excluding MMDAs) | $98,427 |
| Total time deposits | $139,162 |
| Total time and savings deposits | $589,425 |
| Noninterest-bearing deposits | $53,889 |
| Interest-bearing deposits | $589,424 |
| Retail deposits | $633,433 |
| IRAs and Keogh plan accounts | $22,189 |
| Brokered deposits | $4,368 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $812,968 |
| Cash & Balances due from depository institutions | $9,093 |
| Interest-bearing balances | $974 |
| Total securities | $4,490 |
| Federal funds sold & reverse repurchase | $66,559 |
| Net loans and leases | $661,833 |
| Loan and leases loss allowance | $8,390 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $19,442 |
| Other real estate owned | $1,489 |
| Goodwill and other intangibles | $2,760 |
| All other assets | $47,302 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $812,968 |
| Total Liabilities | $724,466 |
| Total deposits | $643,313 |
| Interest-bearing deposits | $589,424 |
| Deposits held in domestic offices | $643,313 |
| % insured (estimated) | $92 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $63,197 |
| Subordinated debt | $0 |
| All other liabilities | $17,956 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $661,833 |
| Loan and leases loss allowance | $8,390 |
| Total loans and leases (domestic) | $670,223 |
| All real estate loans | $480,602 |
| Real estate loans in domestic offices | $480,602 |
| Construction and development loans | $77,131 |
| Residential 1-4 family construction | $19,878 |
| Other construction, all land development and other land | $57,253 |
| Loans secured by nonfarm nonresidential properties | $129,850 |
| Nonfarm nonresidential secured by owner-occupied properties | $72,623 |
| Commercial real estate & other non-farm, non-residential | $57,227 |
| Multifamily residential real estate | $5,364 |
| 1-4 family residential loans | $238,539 |
| Farmland loans | $29,718 |
| Loans held in foreign offices | $0 |
| Farm loans | $4,919 |
| Commercial and industrial loans | $28,280 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $86,462 |
| Credit card loans | $3,122 |
| Related Plans | $71 |
| Consumer Auto Loans | $64,741 |
| Other loans to individuals | $18,528 |
| All other loans & leases | $69,961 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $64,037 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $787 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $1,117 |
| Non 1-4 family restructured loans & leases | $47 |
| Total loans and leases (foreign) | $0 |
F & M BANK CORP. had $661,833,000 of loans outstanding in 2019. $480,602,000 of loans were in real estate loans. $77,131,000 of loans were in development loans. $5,364,000 of loans were in multifamily mortgage loans. $238,539,000 of loans were in 1-4 family mortgage loans. $4,919,000 of loans were in farm loans. $3,122,000 of loans were in credit card loans. $64,741,000 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 | 198 | $45,301 | $228,793 |
| Nonfarm, nonresidential loans - <$100k | 33 | $1,631 | $49,424 |
| Nonfarm, nonresidential loans - $100-250k | 76 | $9,701 | $127,645 |
| Nonfarm, nonresidential loans - $250k-1MM | 89 | $33,969 | $381,674 |
| Commercial & Industrial, US addressed loans - <$1MM | 501 | $24,436 | $48,774 |
| Commercial & Industrial, US addressed loans - <$100k | 390 | $7,995 | $20,500 |
| Commercial & Industrial, US addressed loans - $100-250k | 69 | $5,972 | $86,551 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 42 | $10,469 | $249,262 |
| Farmland loans - <$1MM | 51 | $6,914 | $135,569 |
| Farmland loans - <$100k | 15 | $581 | $38,733 |
| Farmland loans - $100-250k | 20 | $2,201 | $110,050 |
| Farmland loans - $250k-1MM | 16 | $4,132 | $258,250 |
| Agriculture operations loans - <$1MM | 121 | $4,717 | $38,983 |
| Agriculture operations loans - <$100k | 95 | $1,719 | $18,095 |
| Agriculture operations loans - $100-250k | 19 | $2,076 | $109,263 |
| Agriculture operations loans - $250k-1MM | 7 | $922 | $131,714 |