F & M Bank Mortgage Rates, Fees & Info
Edmond, OKLEI: 549300X2FI65C4A30O27
Tax ID: 73-0236480
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Bank Data
Review & 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 by origination volume include: Oklahoma City, Ardmore, Ponca City, Dallas, and Guymon among others. We have data for 48 markets. (Some data included below & more in-depth data is available with an active subscription.)F & M Bank 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 is typically an average 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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.45% | 3/19/23 |
| 30 Year Conventional Refi | 6.30% | 3/19/23 |
| 30 Year Cash-out Refi | 6.53% | 3/19/23 |
| 30 Year FHA Purchase | 7.28% | 3/19/23 |
| 30 Year FHA Refi | 6.54% | 3/19/23 |
| 30 Year VA Purchase | 6.14% | 3/19/23 |
| 30 Year VA Refi | 5.78% | 3/19/23 |
| 30 Year USDA Purchase | 6.62% | 3/19/23 |
| 15 Year Conventional Purchase | 6.34% | 3/19/23 |
| 15 Year Conventional Refi | 5.97% | 3/19/23 |
| 15 Year Cash-out Refi | 5.97% | 3/19/23 |
| 15 Year FHA Refi | 5.68% | 3/19/23 |
| 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. | ||
Originations
957Origination Dollar Volume (All Markets)
$216,745,000Employee count
111Awards
F & M Bank - 2021
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For 2021, less than of lenders were eligible for this award.
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Relative Rate
F & M Bank's average 30 year fixed mortgage rate was
2.92%.
The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.
This yields a difference of -0.23%.
Relative Fees (Closing Costs)
F & M Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,201.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $4,750.
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 |
|---|---|---|---|---|---|
| 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% |
Similar Lenders
We use machine learning to identify the top lenders compared against F & M Bank 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's most frequently originated type of loan was Conventional, with 788 originations. Their 2nd most popular type was FHA, with 80 originations.
Loan Reason
For 2021, F & M Bank's most frequently cited loan purpose was Home Purchase, with 503 originations. The 2nd most popular reason was Refi, with 299 originations.
Loan Duration/Length
For 2021, F & M Bank's most frequently cited loan duration was 30 Year, with 723 originations. The 2nd most popular length was 15 Year, with 119 originations.
Origination Fees/Closing Costs
F & M Bank's average total fees were $4,201, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 625 originations.
Interest Rates
During 2021, F & M Bank's average interest rate for loans was 2.92%, while their most frequently originated rate bucket for loans was 2.5-3%, with 435 originations.
Loan Sizing
2021 saw F & M Bank place emphasis on $200k-400k loans with 391 originations, totaling $108,565,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications92.96%
F & M Bank has an average approval rate.
Pick Rate
Approvals leading to origination80.04%
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 |
LTV Distribution
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 | 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 |
| 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 |
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 |