F & M Bank Mortgage Rates, Fees & Info
Edmond, OKLEI: 549300X2FI65C4A30O27
Tax ID: 73-0236480
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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, Tulsa, Ardmore, Greeley, and Guymon among others. We have data for 40 markets. (Some data included below & more in-depth data is available with an active subscription.)F & M Bank has an 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 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 | 6.65% | 12/16/24 |
| 30 Year Conventional Refi | 6.63% | 12/16/24 |
| 30 Year Cash-out Refi | 6.83% | 12/16/24 |
| 30 Year FHA Purchase | 7.30% | 12/16/24 |
| 30 Year FHA Refi | 7.18% | 12/16/24 |
| 30 Year VA Purchase | 6.20% | 12/16/24 |
| 30 Year USDA Purchase | 6.77% | 12/16/24 |
| 15 Year Conventional Purchase | 5.92% | 12/16/24 |
| 15 Year Conventional Refi | 6.19% | 12/16/24 |
| 15 Year Cash-out Refi | 6.19% | 12/16/24 |
| 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 Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
595Origination Dollar Volume (All Markets)
$104,335,000Employee count
105Awards
F & M Bank - 2018
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For 2018, 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 |
|---|---|---|---|---|---|
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 383 | $66,385,000 | $173,329 | $3,744 | 5.01% |
| Outside of Metro Areas | 59 | $9,105,000 | $154,322 | $3,869 | 4.89% |
| TULSA, OK (FHA|USDA|VA) | 31 | $5,605,000 | $180,806 | $4,586 | 4.89% |
| Ardmore, OK (FHA|USDA|VA) | 29 | $4,685,000 | $161,552 | $4,478 | 4.84% |
| GREELEY, CO (FHA|USDA|VA) | 8 | $2,150,000 | $268,750 | $4,209 | 4.83% |
| Guymon, OK (FHA|USDA|VA) | 9 | $1,735,000 | $192,778 | $5,952 | 4.72% |
| Woodward, OK (FHA|USDA|VA) | 6 | $1,380,000 | $230,000 | $4,346 | 4.84% |
| FORT COLLINS, CO (FHA|USDA|VA) | 3 | $1,335,000 | $445,000 | $3,231 | 5.21% |
| Altus, OK (FHA|USDA|VA) | 7 | $1,025,000 | $146,429 | $4,184 | 4.89% |
| Bonham, TX (FHA|USDA|VA) | 6 | $970,000 | $161,667 | $4,229 | 4.60% |
| Elk City, OK (FHA|USDA|VA) | 1 | $825,000 | $825,000 | $0 | 5.50% |
| ENID, OK (FHA|USDA|VA) | 4 | $690,000 | $172,500 | $3,413 | 4.91% |
| Tahlequah, OK (FHA|USDA|VA) | 4 | $680,000 | $170,000 | $3,859 | 5.06% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 2 | $660,000 | $330,000 | $3,931 | 5.44% |
| Stephenville, TX (FHA|USDA|VA) | 4 | $650,000 | $162,500 | $4,086 | 5.16% |
| Stillwater, OK (FHA|USDA|VA) | 5 | $635,000 | $127,000 | $4,471 | 4.85% |
| Shawnee, OK (FHA|USDA|VA) | 4 | $610,000 | $152,500 | $4,154 | 4.84% |
| Duncan, OK (FHA|USDA|VA) | 3 | $445,000 | $148,333 | $3,616 | 5.04% |
| ABILENE, TX (FHA|USDA|VA) | 3 | $415,000 | $138,333 | $5,367 | 5.21% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $4,092 | 4.75% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $3,304 | 5.10% |
| Ada, OK (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $2,925 | 6.25% |
| McAlester, OK (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $3,728 | 4.88% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $7,367 | 4.75% |
| Gillette, WY (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $4,441 | 4.63% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $2,993 | 4.63% |
| SAN ANGELO, TX (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,443 | 5.38% |
| Weatherford, OK (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,496 | 4.38% |
| Ponca City, OK (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $4,053 | 4.31% |
| MANHATTAN, KS (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,005 | 4.95% |
| LAWTON, OK (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,374 | 3.75% |
| Brownwood, TX (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $5,780 | 5.00% |
| CHEYENNE, WY (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,406 | 5.13% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,611 | 4.88% |
| Carlsbad-Artesia, NM (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $5,505 | 5.00% |
| Taos, NM (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,172 | 5.50% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,461 | 4.88% |
| Bartlesville, OK (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,529 | 4.75% |
| Muskogee, OK (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,847 | 5.13% |
| Durant, OK (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,284 | 5.88% |
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 2018, F & M Bank's most frequently originated type of loan was Conventional, with 435 originations. Their 2nd most popular type was FHA, with 94 originations.
Loan Reason
For 2018, F & M Bank's most frequently cited loan purpose was Home Purchase, with 395 originations. The 2nd most popular reason was Refi, with 109 originations.
Loan Duration/Length
For 2018, F & M Bank's most frequently cited loan duration was 30 Year, with 434 originations. The 2nd most popular length was 20 Year, with 50 originations.
Origination Fees/Closing Costs
F & M Bank's average total fees were $4,196, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 319 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 354 | $70,050,000 | $197,881 |
| 5-6% | 166 | $22,900,000 | $137,952 |
| 6-7% | 37 | $3,915,000 | $105,811 |
| 3-4% | 34 | $7,030,000 | $206,765 |
| 7-8% | 4 | $440,000 | $110,000 |
During 2018, F & M Bank's average interest rate for loans was 4.73%, while their most frequently originated rate bucket for loans was 4-5%, with 354 originations.
Loan Sizing
2018 saw F & M Bank place emphasis on $100k-200k loans with 257 originations, totaling $37,665,000 in origination value.
Applicant Income
F & M Bank lent most frequently to those with incomes in the $50k-75k range, with 128 originations. The second most popular income band? $50k or less, with 113 originations.
Applicant Debt to Income Ratio
F & M Bank lent most frequently to those with DTI ratios of 30-36%, with 120 originations. The next most common DTI ratio? 20-30%, with 117 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications86.49%
F & M Bank has an average approval rate.
Pick Rate
Approvals leading to origination81.68%
F & M Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 595 | $104,335,000 | $175,353 |
Occupancy Type Mix
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 | $29,351 |
| F & M Bank | 116 South Grand Street Crescent, OK 73028 | Full Service B&M | $69,467 |
| F & M Bank | 121 East Waterloo Edmond, OK 73034 | Full Service B&M | $9,036 |
| F & M Bank | 1216 Piedmont Road Piedmont, OK 73078 | Full Service B&M | $84,074 |
| F & M Bank | 17100 North May Ave Edmond, OK 73012 | Full Service B&M | $16,995 |
| F & M Bank | 1800 East Oaklahoma Avenue Guthrie, OK 73044 | Full Service B&M | $81,415 |
| F & M Bank | 2211 South Division Guthrie, OK 73044 | Full Service B&M | $4,837 |
| F & M Bank | 601 South Main Street Kingfisher, OK 73750 | Full Service B&M | $105,299 |
For 2018, F & M Bank had 8 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $18,667 |
| Net interest income | $16,988 |
| Total noninterest income | $5,175 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $812 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $4,363 |
| Pre-tax net operating income | $6,938 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $6,938 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $6,938 |
| Minority interest net income | $0 |
| Net income | $6,938 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $6,938 |
F & M Bank's gross interest income from loans was $18,667,000.
F & M Bank's net interest income from loans was $16,988,000.
F & M Bank's fee based income from loans was $812,000.
F & M Bank's net income from loans was $6,938,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $1,679 |
| Provision for credit losses | $350 |
| Total noninterest expense | $14,875 |
| Salaries and employee benefits | $8,816 |
| Premises and equipment expense | $1,233 |
| Additional noninterest expense | $4,826 |
| Applicable income taxes | $0 |
| Net charge-offs | $282 |
| Cash dividends | $925 |
F & M Bank's interest expense for loans was $1,679,000.
F & M Bank's payroll and benefits expense were $8,816,000.
F & M Bank's property, plant and equipment expenses $1,233,000.
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 | 0.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $416,630 |
| Deposits held in domestic offices | $416,630 |
| Deposits by Individuals, partnerships, and corporations | $333,832 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $82,573 |
| 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 | $249,253 |
| Demand deposits | $236,307 |
| Nontransaction accounts | $167,377 |
| Money market deposit accounts (MMDAs) | $45,284 |
| Other savings deposits (excluding MMDAs) | $36,623 |
| Total time deposits | $85,470 |
| Total time and savings deposits | $180,323 |
| Noninterest-bearing deposits | $113,111 |
| Interest-bearing deposits | $303,519 |
| Retail deposits | $391,290 |
| IRAs and Keogh plan accounts | $7,462 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $478,360 |
| Cash & Balances due from depository institutions | $32,385 |
| Interest-bearing balances | $22,982 |
| Total securities | $89,003 |
| Federal funds sold & reverse repurchase | $9,741 |
| Net loans and leases | $325,811 |
| Loan and leases loss allowance | $4,125 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $6,786 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $717 |
| All other assets | $13,917 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $478,360 |
| Total Liabilities | $434,935 |
| Total deposits | $416,630 |
| Interest-bearing deposits | $303,519 |
| Deposits held in domestic offices | $416,630 |
| % insured (estimated) | $72 |
| Federal funds purchased and repurchase agreements | $8,522 |
| Trading liabilities | $0 |
| Other borrowed funds | $7,426 |
| Subordinated debt | $0 |
| All other liabilities | $2,357 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $325,811 |
| Loan and leases loss allowance | $4,125 |
| Total loans and leases (domestic) | $329,936 |
| All real estate loans | $230,171 |
| Real estate loans in domestic offices | $230,171 |
| Construction and development loans | $40,595 |
| Residential 1-4 family construction | $16,949 |
| Other construction, all land development and other land | $23,646 |
| Loans secured by nonfarm nonresidential properties | $89,297 |
| Nonfarm nonresidential secured by owner-occupied properties | $37,258 |
| Commercial real estate & other non-farm, non-residential | $52,039 |
| Multifamily residential real estate | $3,704 |
| 1-4 family residential loans | $68,979 |
| Farmland loans | $27,596 |
| Loans held in foreign offices | $0 |
| Farm loans | $14,270 |
| Commercial and industrial loans | $31,326 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $10,596 |
| Credit card loans | $485 |
| Related Plans | $0 |
| Consumer Auto Loans | $3,755 |
| Other loans to individuals | $6,356 |
| All other loans & leases | $43,573 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $1,902 |
| 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 $325,811,000 of loans outstanding in 2018. $230,171,000 of loans were in real estate loans. $40,595,000 of loans were in development loans. $3,704,000 of loans were in multifamily mortgage loans. $68,979,000 of loans were in 1-4 family mortgage loans. $14,270,000 of loans were in farm loans. $485,000 of loans were in credit card loans. $3,755,000 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 | 140 | $33,059 | $236,136 |
| Nonfarm, nonresidential loans - <$100k | 40 | $1,255 | $31,375 |
| Nonfarm, nonresidential loans - $100-250k | 44 | $6,374 | $144,864 |
| Nonfarm, nonresidential loans - $250k-1MM | 56 | $25,430 | $454,107 |
| Commercial & Industrial, US addressed loans - <$1MM | 360 | $16,747 | $46,519 |
| Commercial & Industrial, US addressed loans - <$100k | 286 | $6,185 | $21,626 |
| Commercial & Industrial, US addressed loans - $100-250k | 47 | $4,507 | $95,894 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 27 | $6,055 | $224,259 |
| Farmland loans - <$1MM | 144 | $15,028 | $104,361 |
| Farmland loans - <$100k | 71 | $2,696 | $37,972 |
| Farmland loans - $100-250k | 55 | $7,672 | $139,491 |
| Farmland loans - $250k-1MM | 18 | $4,660 | $258,889 |
| Agriculture operations loans - <$1MM | 251 | $8,171 | $32,554 |
| Agriculture operations loans - <$100k | 214 | $4,067 | $19,005 |
| Agriculture operations loans - $100-250k | 30 | $3,075 | $102,500 |
| Agriculture operations loans - $250k-1MM | 7 | $1,029 | $147,000 |