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 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 by origination volume include: Harrisonburg, Staunton, Washington, Richmond, 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% | 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
971Origination Dollar Volume (All Markets)
$206,865,000Employee count
139Awards
F & M BANK CORP. - 2020
F & M BANK CORP. is a 2020 , due to their low .
For 2020, 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) | 605 | $128,565,000 | $212,504 | $3,297 | 3.17% |
| Outside of Metro Areas | 173 | $34,375,000 | $198,699 | $3,445 | 3.25% |
| STAUNTON, VA (FHA|USDA|VA) | 133 | $27,635,000 | $207,782 | $3,294 | 3.19% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 14 | $4,860,000 | $347,143 | $3,574 | 2.96% |
| RICHMOND, VA (FHA|USDA|VA) | 9 | $2,595,000 | $288,333 | $4,568 | 3.62% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 8 | $2,250,000 | $281,250 | $2,832 | 2.95% |
| LYNCHBURG, VA (FHA|USDA|VA) | 5 | $1,205,000 | $241,000 | $2,597 | 2.95% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 5 | $1,055,000 | $211,000 | $4,028 | 3.50% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $875,000 | $875,000 | $0 | 0.00% |
| ROANOKE, VA (FHA|USDA|VA) | 5 | $725,000 | $145,000 | $3,474 | 3.47% |
| Danville, VA (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $2,564 | 3.50% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $3,885 | 3.25% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $2,973 | 2.94% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $3,050 | 3.75% |
| Easton, MD (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,469 | 3.13% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $2,347 | 3.63% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,786 | 3.38% |
| HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,751 | 3.13% |
| LEBANON, PA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $7,041 | 3.13% |
| BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $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 2020, F & M Bank Corp.'s most frequently originated type of loan was Conventional, with 848 originations. Their 2nd most popular type was FHA, with 88 originations.
Loan Reason
For 2020, F & M Bank Corp.'s most frequently cited loan purpose was Home Purchase, with 506 originations. The 2nd most popular reason was Refi, with 378 originations.
Loan Duration/Length
For 2020, F & M Bank Corp.'s most frequently cited loan duration was 30 Year, with 675 originations. The 2nd most popular length was 15 Year, with 133 originations.
Origination Fees/Closing Costs
F & M Bank Corp.'s average total fees were $3,610, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 576 originations.
Interest Rates
During 2020, F & M Bank Corp.'s average interest rate for loans was 3.22%, while their most frequently originated rate bucket for loans was 3-4%, with 405 originations.
Loan Sizing
2020 saw F & M Bank Corp. place emphasis on $200k-400k loans with 414 originations, totaling $111,250,000 in origination value.
Applicant Income
F & M Bank Corp. lent most frequently to those with incomes in the $50k-75k range, with 257 originations. The second most popular income band? $50k or less, with 227 originations.
Applicant Debt to Income Ratio
F & M Bank Corp. lent most frequently to those with DTI ratios of 20-30%, with 259 originations. The next most common DTI ratio? 30-36%, with 189 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.17%
F & M Bank Corp. has an average approval rate.
Pick Rate
Approvals leading to origination82.18%
F & M Bank Corp. has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 971 | $206,865,000 | $213,043 |
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 | $98,104 |
| Farmers & Merchants Bank | 125 W. Craig Street Craigsville, VA 24430 | Full Service B&M | $6,579 |
| Farmers & Merchants Bank | 126 North Timber Way Broadway, VA 22815 | Full Service B&M | $86,573 |
| Farmers & Merchants Bank | 127 Rockingham Street Elkton, VA 22827 | Full Service B&M | $79,424 |
| Farmers & Merchants Bank | 161 South Main Street Woodstock, VA 22664 | Full Service B&M | $60,603 |
| Farmers & Merchants Bank | 165 New Market Timberville, VA 22853 | Full Service B&M | $146,180 |
| Farmers & Merchants Bank | 200 Augusta Avenue Grottoes, VA 24441 | Full Service B&M | $6,769 |
| Farmers & Merchants Bank | 2030 Legacy Lane Harrisonburg, VA 22801 | Full Service B&M | $52,806 |
| Farmers & Merchants Bank | 2782 Stuarts Draft Highway Stuarts Draft, VA 24477 | Full Service B&M | $2,566 |
| Farmers & Merchants Bank | 2813 N Augusta Street Staunton, VA 24401 | Full Service B&M | $25,776 |
| Farmers & Merchants Bank | 30 Gosnell Crossing Staunton, VA 24401 | Full Service B&M | $20,934 |
| Farmers & Merchants Bank | 320 Stoney Creek Blvd Edinburg, VA 22824 | Full Service B&M | $59,064 |
| Farmers & Merchants Bank | 700 East Main Street Luray, VA 22835 | Full Service B&M | $13,511 |
| Farmers & Merchants Bank | 80 Cross Keys Road Harrisonburg, VA 22801 | Full Service B&M | $112,453 |
For 2020, F & M Bank Corp. had 14 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $36,792 |
| Net interest income | $31,339 |
| Total noninterest income | $10,385 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $1,191 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $9,194 |
| Pre-tax net operating income | $9,834 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $8,811 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $8,811 |
| Minority interest net income | $105 |
| Net income | $8,706 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $8,811 |
F & M Bank Corp.'s gross interest income from loans was $36,792,000.
F & M Bank Corp.'s net interest income from loans was $31,339,000.
F & M Bank Corp.'s fee based income from loans was $1,191,000.
F & M Bank Corp.'s net income from loans was $8,706,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $5,453 |
| Provision for credit losses | $3,300 |
| Total noninterest expense | $28,590 |
| Salaries and employee benefits | $15,190 |
| Premises and equipment expense | $1,975 |
| Additional noninterest expense | $11,425 |
| Applicable income taxes | $1,023 |
| Net charge-offs | $1,215 |
| Cash dividends | $1,500 |
F & M Bank Corp.'s interest expense for loans was $5,453,000.
F & M Bank Corp.'s payroll and benefits expense were $15,190,000.
F & M Bank Corp.'s property, plant and equipment expenses $1,975,000.
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 | 0.0% |
| Nonfarm, nonresidential loans | 2.0% |
| 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 | 0.0% |
| 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 | $832,827 |
| Deposits held in domestic offices | $832,827 |
| Deposits by Individuals, partnerships, and corporations | $825,032 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $7,795 |
| 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 | $131,161 |
| Demand deposits | $84,521 |
| Nontransaction accounts | $701,666 |
| Money market deposit accounts (MMDAs) | $452,971 |
| Other savings deposits (excluding MMDAs) | $118,630 |
| Total time deposits | $130,065 |
| Total time and savings deposits | $748,306 |
| Noninterest-bearing deposits | $131,161 |
| Interest-bearing deposits | $701,666 |
| Retail deposits | $814,346 |
| IRAs and Keogh plan accounts | $23,172 |
| Brokered deposits | $19,062 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $966,611 |
| Cash & Balances due from depository institutions | $12,395 |
| Interest-bearing balances | $1,214 |
| Total securities | $107,024 |
| Federal funds sold & reverse repurchase | $65,983 |
| Net loans and leases | $709,607 |
| Loan and leases loss allowance | $10,475 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $18,462 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $2,747 |
| All other assets | $50,393 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $966,611 |
| Total Liabilities | $871,830 |
| Total deposits | $832,827 |
| Interest-bearing deposits | $701,666 |
| Deposits held in domestic offices | $832,827 |
| % insured (estimated) | $87 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $21,268 |
| Subordinated debt | $0 |
| All other liabilities | $17,735 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $709,607 |
| Loan and leases loss allowance | $10,475 |
| Total loans and leases (domestic) | $720,082 |
| All real estate loans | $506,117 |
| Real estate loans in domestic offices | $506,117 |
| Construction and development loans | $71,467 |
| Residential 1-4 family construction | $32,494 |
| Other construction, all land development and other land | $38,973 |
| Loans secured by nonfarm nonresidential properties | $142,516 |
| Nonfarm nonresidential secured by owner-occupied properties | $77,383 |
| Commercial real estate & other non-farm, non-residential | $65,133 |
| Multifamily residential real estate | $5,918 |
| 1-4 family residential loans | $232,488 |
| Farmland loans | $53,728 |
| Loans held in foreign offices | $0 |
| Farm loans | $5,264 |
| Commercial and industrial loans | $58,323 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $98,117 |
| Credit card loans | $2,857 |
| Related Plans | $52 |
| Consumer Auto Loans | $77,580 |
| Other loans to individuals | $17,628 |
| All other loans & leases | $52,260 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $44,513 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $285 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $210 |
| Non 1-4 family restructured loans & leases | $24 |
| Total loans and leases (foreign) | $0 |
F & M BANK CORP. had $709,607,000 of loans outstanding in 2020. $506,117,000 of loans were in real estate loans. $71,467,000 of loans were in development loans. $5,918,000 of loans were in multifamily mortgage loans. $232,488,000 of loans were in 1-4 family mortgage loans. $5,264,000 of loans were in farm loans. $2,857,000 of loans were in credit card loans. $77,580,000 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 | 188 | $45,141 | $240,112 |
| Nonfarm, nonresidential loans - <$100k | 32 | $1,608 | $50,250 |
| Nonfarm, nonresidential loans - $100-250k | 71 | $8,873 | $124,972 |
| Nonfarm, nonresidential loans - $250k-1MM | 85 | $34,660 | $407,765 |
| Commercial & Industrial, US addressed loans - <$1MM | 868 | $41,114 | $47,366 |
| Commercial & Industrial, US addressed loans - <$100k | 710 | $15,786 | $22,234 |
| Commercial & Industrial, US addressed loans - $100-250k | 100 | $10,616 | $106,160 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 58 | $14,712 | $253,655 |
| Farmland loans - <$1MM | 54 | $8,184 | $151,556 |
| Farmland loans - <$100k | 15 | $538 | $35,867 |
| Farmland loans - $100-250k | 20 | $2,263 | $113,150 |
| Farmland loans - $250k-1MM | 19 | $5,383 | $283,316 |
| Agriculture operations loans - <$1MM | 136 | $5,214 | $38,338 |
| Agriculture operations loans - <$100k | 104 | $2,148 | $20,654 |
| Agriculture operations loans - $100-250k | 24 | $2,081 | $86,708 |
| Agriculture operations loans - $250k-1MM | 8 | $985 | $123,125 |