F & M Bank Mortgage Rates, Fees & Info

Edmond, OK

LEI: 549300X2FI65C4A30O27

Tax ID: 73-0236480

5 stars - out of 5 stars, based on 31 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

F & M Bank is a smaller bank specializing in Home Purchase and Refi loans. F & M Bank 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 Oklahoma City, Ardmore, Ponca City, Dallas, and Guymon among others. F & M Bank 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 is typically an average fee lendor.


Originations

957

Origination Dollar Volume (All Markets)

$216,745,000

Employee count

111 Show all (6) awards

Relative Rate

F & M Bank's average 30 year fixed rate mortgage of loans were 2.92%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.23%.

Relative Fees

F & M Bank's average total fees for a 30 year fixed rate mortgage are $4,201.

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
OKLAHOMA CITY, OK (FHA|USDA|VA) 681 $157,365,000 $231,079 $3,813 3.11%
Outside of Metro Areas 99 $18,975,000 $191,667 $3,990 3.23%
Ardmore, OK (FHA|USDA|VA) 19 $4,925,000 $259,211 $4,556 2.92%
Ponca City, OK (FHA|USDA|VA) 24 $4,010,000 $167,083 $4,164 3.02%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 11 $3,345,000 $304,091 $6,176 2.69%
Guymon, OK (FHA|USDA|VA) 22 $3,330,000 $151,364 $4,614 2.97%
TULSA, OK (FHA|USDA|VA) 12 $2,650,000 $220,833 $4,799 3.10%
Bonham, TX (FHA|USDA|VA) 12 $2,470,000 $205,833 $4,237 2.81%
Weatherford, OK (FHA|USDA|VA) 4 $1,860,000 $465,000 $3,651 3.03%
Altus, OK (FHA|USDA|VA) 6 $1,470,000 $245,000 $3,934 2.96%
ENID, OK (FHA|USDA|VA) 6 $1,450,000 $241,667 $5,049 3.31%
SAN ANGELO, TX (FHA|USDA|VA) 5 $925,000 $185,000 $4,200 3.00%
Miami, OK (FHA|USDA|VA) 2 $840,000 $420,000 $4,119 3.00%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 2 $820,000 $410,000 $5,023 2.62%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 2 $730,000 $365,000 $4,810 3.31%
Tahlequah, OK (FHA|USDA|VA) 3 $705,000 $235,000 $4,079 2.75%
Elk City, OK (FHA|USDA|VA) 3 $685,000 $228,333 $3,778 2.96%
Stillwater, OK (FHA|USDA|VA) 3 $605,000 $201,667 $5,438 3.08%
HOT SPRINGS, AR (FHA|USDA|VA) 1 $595,000 $595,000 $0 4.00%
Paris, TX (FHA|USDA|VA) 2 $540,000 $270,000 $4,185 3.50%
Woodward, OK (FHA|USDA|VA) 4 $530,000 $132,500 $3,250 2.59%
MIDLAND, TX (FHA|USDA|VA) 2 $510,000 $255,000 $4,414 2.81%
Shawnee, OK (FHA|USDA|VA) 3 $505,000 $168,333 $5,575 3.00%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $485,000 $485,000 $2,796 2.50%
FORT COLLINS, CO (FHA|USDA|VA) 1 $485,000 $485,000 $2,076 3.13%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $415,000 $415,000 $5,204 3.00%
JOPLIN, MO (FHA|USDA|VA) 1 $405,000 $405,000 $3,616 2.88%
BOWLING GREEN, KY (FHA|USDA|VA) 1 $395,000 $395,000 $2,519 2.88%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $395,000 $395,000 $4,580 3.38%
Taos, NM (FHA|USDA|VA) 2 $360,000 $180,000 $3,325 3.19%
LAWTON, OK (FHA|USDA|VA) 2 $340,000 $170,000 $4,469 2.94%
WARNER ROBINS, GA (FHA|USDA|VA) 1 $305,000 $305,000 $2,581 3.25%
ABILENE, TX (FHA|USDA|VA) 1 $275,000 $275,000 $7,228 2.50%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $275,000 $275,000 $9,027 2.63%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $265,000 $265,000 $3,509 2.38%
Carlsbad-Artesia, NM (FHA|USDA|VA) 2 $260,000 $130,000 $4,722 2.69%
Roswell, NM (FHA|USDA|VA) 1 $255,000 $255,000 $3,455 2.63%
WICHITA FALLS, TX (FHA|USDA|VA) 2 $240,000 $120,000 $2,761 2.38%
LONGVIEW, TX (FHA|USDA|VA) 1 $235,000 $235,000 $4,562 2.88%
SAVANNAH, GA (FHA|USDA|VA) 1 $235,000 $235,000 $3,959 2.50%
Stephenville, TX (FHA|USDA|VA) 1 $215,000 $215,000 $3,800 2.88%
Ada, OK (FHA|USDA|VA) 1 $205,000 $205,000 $3,401 2.50%
TYLER, TX (FHA|USDA|VA) 1 $195,000 $195,000 $3,736 3.00%
Durant, OK (FHA|USDA|VA) 1 $185,000 $185,000 $6,082 2.63%
Brownwood, TX (FHA|USDA|VA) 1 $155,000 $155,000 $3,625 3.25%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $125,000 $125,000 $3,859 2.99%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $115,000 $115,000 $1,273 3.13%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $85,000 $85,000 $1,704 3.38%

F & M Bank's top markets include Oklahoma City, Ardmore, Ponca City, Dallas, and Guymon among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 788 $178,640,000 $226,701 $3,426 3.16%
FHA 80 $15,820,000 $197,750 $6,383 2.93%
VA 69 $19,275,000 $279,348 $6,320 2.56%
USDA 20 $3,010,000 $150,500 $4,592 2.76%

For the 2021 period, F & M Bank's most frequently originated loan type of loans were Conventional, with 788 originations. Their 2nd most popular type is FHA, with 80 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 503 $114,195,000 $227,028 $4,273 3.12%
Refi 299 $68,705,000 $229,783 $3,564 2.92%
Cash Out Refi 137 $31,825,000 $232,299 $3,997 3.07%
Home Improvement 13 $695,000 $53,462 $429 5.37%
Other 5 $1,325,000 $265,000 $1,208 4.88%

For the 2021, F & M Bank's most frequently cited loan purpose of loans were Home Purchase, with 503 originations. The 2nd most popular reason of loans were Refi, with 299 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 723 $175,305,000 $242,469 $4,201 2.92%
15 Year 119 $21,035,000 $176,765 $3,433 2.91%
20 Year 57 $12,905,000 $226,404 $2,661 3.82%
Other 20 $2,170,000 $108,500 $2,108 4.81%
1 Year 17 $3,795,000 $223,235 $2,706 5.15%
10 Year 14 $1,250,000 $89,286 $1,772 4.41%
5 Year 4 $110,000 $27,500 $211 5.06%
3 Year 3 $175,000 $58,333 $2,139 5.17%

For the 2021, F & M Bank's most frequently cited loan length of loans were 30 Year, with 723 originations. The 2nd most popular length of loans were 15 Year, with 119 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 625 $148,255,000 $237,208
$<1k 208 $44,370,000 $213,317
$2k-3k 24 $7,090,000 $295,417
$3k-4k 13 $4,175,000 $321,154
$5k+ 2 $540,000 $270,000

$4,201 of loans were F & M Bank's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 625 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 435 $106,245,000 $244,241
3-4% 223 $46,575,000 $208,857
<2.5% 204 $48,840,000 $239,412
4-5% 51 $10,145,000 $198,922
5-6% 38 $4,720,000 $124,211
6-7% 6 $220,000 $36,667

During 2021, F & M Bank's average interest rate of loans were 2.92%, while their most frequently originated rate bucket of loans were 2.5-3%, with 435 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 391 $108,565,000 $277,660 $4,392 2.90%
$100k-200k 346 $51,430,000 $148,642 $3,625 3.02%
$100,000 or less 124 $8,520,000 $68,710 $2,451 4.02%
$400k-600k 92 $43,850,000 $476,630 $4,675 2.89%
$1MM+ 3 $3,765,000 $1,255,000 $3,387 4.50%
$600k-1MM 1 $615,000 $615,000 $341 3.65%

2021 saw F & M Bank place emphasis on $200k-400k loans with 391 originations, totaling $108,565,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 233 $58,365,000 $250,494 $4,059 2.99%
$50k-75k 176 $30,680,000 $174,318 $3,946 3.01%
$75k-100k 161 $34,275,000 $212,888 $4,180 2.97%
$150k-250k 144 $44,240,000 $307,222 $4,129 3.04%
$50k or less 141 $18,665,000 $132,376 $3,582 3.13%
$250k+ 57 $20,225,000 $354,825 $3,448 3.37%

F & M Bank lent most frequently to those with incomes in the $100k-150k range, with 233 originations. The second most popular income band? $50k-75k, with 176 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 251 $54,555,000 $217,351 $3,723 3.06%
30-36% 179 $39,525,000 $220,810 $3,678 3.03%
<20% 132 $29,110,000 $220,530 $3,664 3.12%
38% 35 $8,265,000 $236,143 $4,505 3.14%
43% 35 $8,515,000 $243,286 $4,821 2.97%
39% 31 $8,785,000 $283,387 $3,697 3.03%
40% 29 $7,455,000 $257,069 $4,451 2.88%
36% 28 $6,210,000 $221,786 $3,965 2.98%
41% 28 $7,420,000 $265,000 $4,017 2.88%
37% 28 $5,580,000 $199,286 $3,385 3.11%
42% 24 $5,530,000 $230,417 $4,469 3.02%
45% 19 $3,975,000 $209,211 $5,038 2.89%
44% 19 $3,745,000 $197,105 $4,275 3.04%
47% 18 $3,760,000 $208,889 $4,699 2.88%
48% 16 $4,660,000 $291,250 $3,940 2.81%
50-60% 16 $4,160,000 $260,000 $7,046 2.59%
49% 10 $2,590,000 $259,000 $4,880 2.94%
46% 9 $1,825,000 $202,778 $3,849 2.93%
>60% 3 $865,000 $288,333 $3,210 3.17%

F & M Bank lent most frequently to those with DTI ratios of 20-30%, with 251 originations. The next most common DTI ratio? 30-36%, with 179 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 759 $171,555,000 $226,028 $3,994 3.04%
Not provided 72 $17,320,000 $240,556 $3,729 3.25%
American Indian 60 $13,670,000 $227,833 $3,980 2.88%
Not applicable 27 $5,715,000 $211,667 $0 5.07%
Asian 22 $4,930,000 $224,091 $3,718 2.66%
Black 14 $3,090,000 $220,714 $3,171 2.80%
Vietnamese 1 $205,000 $205,000 $3,119 2.50%
Asian Indian 1 $195,000 $195,000 $5,692 2.63%
Other Asian 1 $65,000 $65,000 $2,148 4.50%

Approval Rates

Total approvals of all applications
91.54%

F & M Bank has an average approval rate.

Pick Rate

Approvals leading to origination
80.04%

F & M Bank has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 957 $216,745,000 $226,484

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
957 $216,745,000 $226,484

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 49 $7,805,000 $159,286 $2,887 3.51%
40-60% 131 $26,805,000 $204,618 $3,581 3.02%
60-80% 361 $83,415,000 $231,066 $3,627 3.09%
80-100% 383 $94,325,000 $246,279 $4,388 2.97%
Over 100% 11 $2,955,000 $268,636 $10,794 2.69%
Under 20% 22 $1,440,000 $65,455 $933 4.89%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
F & M Bank 11000 Surrey Hills Boulevard Yukon, OK 73099 Full Service B&M $39,419
F & M Bank 17100 North May Ave Edmond, OK 73012 Full Service B&M $37,897
F & M Bank 1800 E Oklahoma Ave Guthrie, OK 73044 Full Service B&M $107,451
F & M Bank 2211 South Division Guthrie, OK 73044 Full Service B&M $7,688
F & M Bank 601 South Main Street Kingfisher, OK 73750 Full Service B&M $127,246
F & M Bank 116 South Grand Street Crescent, OK 73028 Full Service B&M $79,075
F & M Bank 121 East Waterloo, Suite 1 Edmond, OK 73034 Full Service B&M $12,993
F & M Bank 1216 Piedmont Road Piedmont, OK 73078 Full Service B&M $110,991

For 2021, F & M Bank had 8 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $21,370
Net interest income $20,109
Total noninterest income $8,679
Gross Fiduciary activities income $0
Service charges on deposit accounts $632
Trading account gains and fees $0
Additional Noninterest Income $8,047
Pre-tax net operating income $10,918
Securities gains (or losses, -) $-9
Income before extraordinary items $10,488
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $10,488
Minority interest net income $0
Net income $10,488
Sale, conversion, retirement of capital stock, net $0
Net operating income $10,496

F & M Bank's gross interest income from loans was $21,370,000.
F & M Bank's net interest income from loans was $20,109,000.
F & M Bank's fee based income from loans was $632,000.
F & M Bank's net income from loans was $10,488,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $1,261
Provision for credit losses $0
Total noninterest expense $17,870
Salaries and employee benefits $10,832
Premises and equipment expense $1,621
Additional noninterest expense $5,417
Applicable income taxes $421
Net charge-offs $36
Cash dividends $2,800

F & M Bank's interest expense for loans was $1,261,000.
F & M Bank's payroll and benefits expense were $10,832,000.
F & M Bank's property, plant and equipment expenses $1,621,000.

Loan Performance

Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
All loans 0.0%
Real Estate loans 0.0%
Construction & Land Development loans 0.0%
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 0.0%
Other individual loans 0.0%
Auto loans 0.0%
Other consumer loans 1.0%
Unsecured commercial real estate loans 0.0%

Deposits

Type Value (in 000's)
Total deposits $551,199
Deposits held in domestic offices $551,199
Deposits by Individuals, partnerships, and corporations $465,731
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $85,243
Deposits by Commercial banks and other depository institutions in U.S. $225
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $356,959
Demand deposits $356,526
Nontransaction accounts $194,240
Money market deposit accounts (MMDAs) $54,570
Other savings deposits (excluding MMDAs) $53,204
Total time deposits $86,467
Total time and savings deposits $194,673
Noninterest-bearing deposits $189,085
Interest-bearing deposits $362,115
Retail deposits $520,678
IRAs and Keogh plan accounts $7,761
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $639,930
Cash & Balances due from depository institutions $34,492
Interest-bearing balances $23,479
Total securities $203,917
Federal funds sold & reverse repurchase $28,370
Net loans and leases $350,842
Loan and leases loss allowance $5,226
Trading account assets $0
Bank premises and fixed assets $5,956
Other real estate owned $0
Goodwill and other intangibles $179
All other assets $16,174

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $639,930
Total Liabilities $574,265
Total deposits $551,199
Interest-bearing deposits $362,115
Deposits held in domestic offices $551,199
% insured (estimated) $68
Federal funds purchased and repurchase agreements $10,741
Trading liabilities $0
Other borrowed funds $9,786
Subordinated debt $0
All other liabilities $2,539

Issued Loan Types

Type Value (in 000's)
Net loans and leases $350,842
Loan and leases loss allowance $5,226
Total loans and leases (domestic) $356,068
All real estate loans $219,698
Real estate loans in domestic offices $219,698
Construction and development loans $52,745
Residential 1-4 family construction $24,870
Other construction, all land development and other land $27,875
Loans secured by nonfarm nonresidential properties $93,700
Nonfarm nonresidential secured by owner-occupied properties $40,848
Commercial real estate & other non-farm, non-residential $52,852
Multifamily residential real estate $4,231
1-4 family residential loans $51,655
Farmland loans $17,367
Loans held in foreign offices $0
Farm loans $15,624
Commercial and industrial loans $54,175
To non-U.S. addressees $0
Loans to individuals $9,978
Credit card loans $412
Related Plans $0
Consumer Auto Loans $4,209
Other loans to individuals $5,357
All other loans & leases $56,593
Loans to foreign governments and official institutions $0
Other loans $1,206
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $0
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $0
Non 1-4 family restructured loans & leases $0
Total loans and leases (foreign) $0

F & M Bank had $350,842,000 of loans outstanding in 2021. $219,698,000 of loans were in real estate loans. $52,745,000 of loans were in development loans. $4,231,000 of loans were in multifamily mortgage loans. $51,655,000 of loans were in 1-4 family mortgage loans. $15,624,000 of loans were in farm loans. $412,000 of loans were in credit card loans. $4,209,000 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 127 $31,399 $247,236
Nonfarm, nonresidential loans - <$100k 31 $1,055 $34,032
Nonfarm, nonresidential loans - $100-250k 36 $4,389 $121,917
Nonfarm, nonresidential loans - $250k-1MM 60 $25,955 $432,583
Commercial & Industrial, US addressed loans - <$1MM 483 $28,561 $59,133
Commercial & Industrial, US addressed loans - <$100k 375 $8,158 $21,755
Commercial & Industrial, US addressed loans - $100-250k 67 $7,070 $105,522
Commercial & Industrial, US addressed loans - $250k-1MM 41 $13,333 $325,195
Farmland loans - <$1MM 115 $11,007 $95,713
Farmland loans - <$100k 59 $2,426 $41,119
Farmland loans - $100-250k 43 $5,073 $117,977
Farmland loans - $250k-1MM 13 $3,508 $269,846
Agriculture operations loans - <$1MM 341 $10,546 $30,927
Agriculture operations loans - <$100k 297 $5,238 $17,636
Agriculture operations loans - $100-250k 35 $3,348 $95,657
Agriculture operations loans - $250k-1MM 9 $1,960 $217,778