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, Charlottesville, and Lynchburg among others. We have data for 26 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
839Origination Dollar Volume (All Markets)
$178,165,000Employee count
137Awards
F & M BANK CORP. - 2021
F & M BANK CORP. is a 2021 , due to their low .
For 2021, 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) | 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% |
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 2021, F & M Bank Corp.'s most frequently originated type of loan was Conventional, with 736 originations. Their 2nd most popular type was FHA, with 82 originations.
Loan Reason
For 2021, F & M Bank Corp.'s most frequently cited loan purpose was Home Purchase, with 516 originations. The 2nd most popular reason was Refi, with 313 originations.
Loan Duration/Length
For 2021, F & M Bank Corp.'s most frequently cited loan duration was 30 Year, with 650 originations. The 2nd most popular length was 15 Year, with 101 originations.
Origination Fees/Closing Costs
F & M Bank Corp.'s average total fees were $3,799, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.14%, while their most frequently originated rate bucket for loans was 3-4%, with 365 originations.
Loan Sizing
2021 saw F & M Bank Corp. place emphasis on $200k-400k loans with 373 originations, totaling $99,755,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications93.84%
F & M Bank Corp. has an average approval rate.
Pick Rate
Approvals leading to origination89.27%
F & M Bank Corp. has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 839 | $178,165,000 | $212,354 |
LTV Distribution
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Farmers & Merchants Bank | 161 South Main Street Woodstock, VA 22664 | Full Service B&M | $70,025 |
| 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 | 165 New Market Timberville, VA 22853 | Full Service B&M | $182,525 |
| 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
| Item | Value (in 000's) |
|---|---|
| Total interest income | $35,577 |
| Net interest income | $32,007 |
| Total noninterest income | $9,880 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $1,133 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $8,747 |
| Pre-tax net operating income | $13,001 |
| Securities gains (or losses, -) | $-525 |
| Income before extraordinary items | $11,076 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $11,076 |
| Minority interest net income | $0 |
| Net income | $11,076 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $11,543 |
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.
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 | 1.0% |
| 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 | $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 |