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, Ardmore, Tulsa, Guymon, and Ponca City among others. We have data for 34 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 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% | 4/18/24 |
| 30 Year Conventional Refi | 6.63% | 4/18/24 |
| 30 Year Cash-out Refi | 6.83% | 4/18/24 |
| 30 Year FHA Purchase | 7.30% | 4/18/24 |
| 30 Year FHA Refi | 7.18% | 4/18/24 |
| 30 Year VA Purchase | 6.20% | 4/18/24 |
| 30 Year USDA Purchase | 6.77% | 4/18/24 |
| 15 Year Conventional Purchase | 5.92% | 4/18/24 |
| 15 Year Conventional Refi | 6.19% | 4/18/24 |
| 15 Year Cash-out Refi | 6.19% | 4/18/24 |
| 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
646Origination Dollar Volume (All Markets)
$123,760,000Employee count
104Awards
F & M Bank - 2019
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For 2019, 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) | 404 | $83,350,000 | $206,312 | $3,805 | 4.50% |
| Outside of Metro Areas | 91 | $12,705,000 | $139,615 | $3,724 | 4.66% |
| Ardmore, OK (FHA|USDA|VA) | 30 | $5,480,000 | $182,667 | $3,944 | 4.38% |
| TULSA, OK (FHA|USDA|VA) | 26 | $5,260,000 | $202,308 | $4,368 | 4.36% |
| Guymon, OK (FHA|USDA|VA) | 11 | $1,625,000 | $147,727 | $4,202 | 4.32% |
| Ponca City, OK (FHA|USDA|VA) | 12 | $1,340,000 | $111,667 | $4,552 | 4.22% |
| Carlsbad-Artesia, NM (FHA|USDA|VA) | 6 | $1,270,000 | $211,667 | $6,701 | 4.08% |
| ENID, OK (FHA|USDA|VA) | 8 | $1,210,000 | $151,250 | $4,945 | 4.47% |
| McAlester, OK (FHA|USDA|VA) | 3 | $995,000 | $331,667 | $3,948 | 3.92% |
| SAN ANGELO, TX (FHA|USDA|VA) | 5 | $955,000 | $191,000 | $4,706 | 4.43% |
| Stephenville, TX (FHA|USDA|VA) | 4 | $910,000 | $227,500 | $3,977 | 4.47% |
| Altus, OK (FHA|USDA|VA) | 5 | $905,000 | $181,000 | $3,809 | 4.05% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 3 | $795,000 | $265,000 | $4,898 | 4.21% |
| Woodward, OK (FHA|USDA|VA) | 5 | $655,000 | $131,000 | $4,468 | 4.10% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 2 | $620,000 | $310,000 | $4,720 | 3.81% |
| Durant, OK (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $5,439 | 4.38% |
| Bonham, TX (FHA|USDA|VA) | 5 | $535,000 | $107,000 | $3,842 | 4.83% |
| Hobbs, NM (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $8,929 | 3.88% |
| ABILENE, TX (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $5,143 | 4.06% |
| Stillwater, OK (FHA|USDA|VA) | 3 | $405,000 | $135,000 | $3,116 | 5.21% |
| YUBA CITY, CA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $2,787 | 4.63% |
| Ada, OK (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $3,832 | 3.56% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $3,221 | 4.75% |
| GREELEY, CO (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $3,601 | 4.88% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $13,384 | 3.63% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $5,050 | 4.94% |
| Breckenridge, CO (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,326 | 4.38% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $4,736 | 3.63% |
| WALLA WALLA, WA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $1,817 | 3.88% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $5,680 | 3.75% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,991 | 4.00% |
| Shawnee, OK (FHA|USDA|VA) | 2 | $120,000 | $60,000 | $4,325 | 4.94% |
| FORT SMITH, AR-OK (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 6.00% |
| Duncan, OK (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $4,604 | 3.75% |
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Product Mix
For 2019, F & M Bank's most frequently originated type of loan was Conventional, with 477 originations. Their 2nd most popular type was FHA, with 102 originations.
Loan Reason
For 2019, F & M Bank's most frequently cited loan purpose was Home Purchase, with 412 originations. The 2nd most popular reason was Refi, with 125 originations.
Loan Duration/Length
For 2019, F & M Bank's most frequently cited loan duration was 30 Year, with 464 originations. The 2nd most popular length was 15 Year, with 74 originations.
Origination Fees/Closing Costs
F & M Bank's average total fees were $4,278, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 322 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 272 | $58,200,000 | $213,971 |
| 4-5% | 234 | $48,000,000 | $205,128 |
| 5-6% | 84 | $12,240,000 | $145,714 |
| 6-7% | 51 | $4,045,000 | $79,314 |
| 2.5-3% | 5 | $1,275,000 | $255,000 |
During 2019, F & M Bank's average interest rate for loans was 4.16%, while their most frequently originated rate bucket for loans was 3-4%, with 272 originations.
Loan Sizing
2019 saw F & M Bank place emphasis on $100k-200k loans with 264 originations, totaling $39,250,000 in origination value.
Applicant Income
F & M Bank lent most frequently to those with incomes in the $50k-75k range, with 139 originations. The second most popular income band? $100k-150k, with 128 originations.
Applicant Debt to Income Ratio
F & M Bank lent most frequently to those with DTI ratios of 20-30%, with 149 originations. The next most common DTI ratio? 30-36%, with 125 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.68%
F & M Bank has an average approval rate.
Pick Rate
Approvals leading to origination78.48%
F & M Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 646 | $123,760,000 | $191,579 |
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 | $28,455 |
| F & M Bank | 116 South Grand Street Crescent, OK 73028 | Full Service B&M | $73,849 |
| F & M Bank | 121 East Waterloo, Suite 1 Edmond, OK 73034 | Full Service B&M | $8,882 |
| F & M Bank | 1216 Piedmont Road Piedmont, OK 73078 | Full Service B&M | $83,632 |
| F & M Bank | 17100 North May Ave Edmond, OK 73012 | Full Service B&M | $14,941 |
| F & M Bank | 1800 East Oaklahoma Avenue Guthrie, OK 73044 | Full Service B&M | $83,422 |
| F & M Bank | 2211 South Division Guthrie, OK 73044 | Full Service B&M | $5,844 |
| F & M Bank | 601 South Main Street Kingfisher, OK 73750 | Full Service B&M | $110,545 |
For 2019, F & M Bank had 8 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $21,296 |
| Net interest income | $18,724 |
| Total noninterest income | $5,950 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $800 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $5,150 |
| Pre-tax net operating income | $8,718 |
| Securities gains (or losses, -) | $-5 |
| Income before extraordinary items | $8,363 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $8,363 |
| Minority interest net income | $0 |
| Net income | $8,363 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $8,367 |
F & M Bank's gross interest income from loans was $21,296,000.
F & M Bank's net interest income from loans was $18,724,000.
F & M Bank's fee based income from loans was $800,000.
F & M Bank's net income from loans was $8,363,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $2,572 |
| Provision for credit losses | $760 |
| Total noninterest expense | $15,196 |
| Salaries and employee benefits | $9,050 |
| Premises and equipment expense | $1,494 |
| Additional noninterest expense | $4,652 |
| Applicable income taxes | $350 |
| Net charge-offs | $157 |
| Cash dividends | $2,650 |
F & M Bank's interest expense for loans was $2,572,000.
F & M Bank's payroll and benefits expense were $9,050,000.
F & M Bank's property, plant and equipment expenses $1,494,000.
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 | $411,822 |
| Deposits held in domestic offices | $411,822 |
| Deposits by Individuals, partnerships, and corporations | $339,881 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $71,716 |
| 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 | $239,475 |
| Demand deposits | $227,719 |
| Nontransaction accounts | $172,347 |
| Money market deposit accounts (MMDAs) | $43,114 |
| Other savings deposits (excluding MMDAs) | $35,504 |
| Total time deposits | $93,730 |
| Total time and savings deposits | $184,103 |
| Noninterest-bearing deposits | $110,944 |
| Interest-bearing deposits | $300,878 |
| Retail deposits | $382,269 |
| IRAs and Keogh plan accounts | $8,029 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $480,916 |
| Cash & Balances due from depository institutions | $26,209 |
| Interest-bearing balances | $17,024 |
| Total securities | $99,589 |
| Federal funds sold & reverse repurchase | $8,685 |
| Net loans and leases | $324,451 |
| Loan and leases loss allowance | $4,728 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $6,592 |
| Other real estate owned | $50 |
| Goodwill and other intangibles | $538 |
| All other assets | $14,802 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $480,916 |
| Total Liabilities | $430,050 |
| Total deposits | $411,822 |
| Interest-bearing deposits | $300,878 |
| Deposits held in domestic offices | $411,822 |
| % insured (estimated) | $74 |
| Federal funds purchased and repurchase agreements | $4,846 |
| Trading liabilities | $0 |
| Other borrowed funds | $11,050 |
| Subordinated debt | $0 |
| All other liabilities | $2,332 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $324,451 |
| Loan and leases loss allowance | $4,728 |
| Total loans and leases (domestic) | $329,179 |
| All real estate loans | $232,289 |
| Real estate loans in domestic offices | $232,289 |
| Construction and development loans | $43,259 |
| Residential 1-4 family construction | $20,083 |
| Other construction, all land development and other land | $23,176 |
| Loans secured by nonfarm nonresidential properties | $82,559 |
| Nonfarm nonresidential secured by owner-occupied properties | $36,528 |
| Commercial real estate & other non-farm, non-residential | $46,031 |
| Multifamily residential real estate | $4,145 |
| 1-4 family residential loans | $69,868 |
| Farmland loans | $32,458 |
| Loans held in foreign offices | $0 |
| Farm loans | $12,255 |
| Commercial and industrial loans | $34,826 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $9,931 |
| Credit card loans | $483 |
| Related Plans | $0 |
| Consumer Auto Loans | $3,412 |
| Other loans to individuals | $6,036 |
| All other loans & leases | $39,878 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $1,494 |
| 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 $324,451,000 of loans outstanding in 2019. $232,289,000 of loans were in real estate loans. $43,259,000 of loans were in development loans. $4,145,000 of loans were in multifamily mortgage loans. $69,868,000 of loans were in 1-4 family mortgage loans. $12,255,000 of loans were in farm loans. $483,000 of loans were in credit card loans. $3,412,000 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 | 135 | $32,764 | $242,696 |
| Nonfarm, nonresidential loans - <$100k | 33 | $1,156 | $35,030 |
| Nonfarm, nonresidential loans - $100-250k | 40 | $5,356 | $133,900 |
| Nonfarm, nonresidential loans - $250k-1MM | 62 | $26,252 | $423,419 |
| Commercial & Industrial, US addressed loans - <$1MM | 353 | $18,325 | $51,912 |
| Commercial & Industrial, US addressed loans - <$100k | 277 | $6,070 | $21,913 |
| Commercial & Industrial, US addressed loans - $100-250k | 47 | $4,089 | $87,000 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 29 | $8,166 | $281,586 |
| Farmland loans - <$1MM | 134 | $12,164 | $90,776 |
| Farmland loans - <$100k | 72 | $2,811 | $39,042 |
| Farmland loans - $100-250k | 49 | $6,250 | $127,551 |
| Farmland loans - $250k-1MM | 13 | $3,103 | $238,692 |
| Agriculture operations loans - <$1MM | 251 | $7,774 | $30,972 |
| Agriculture operations loans - <$100k | 218 | $4,422 | $20,284 |
| Agriculture operations loans - $100-250k | 27 | $2,393 | $88,630 |
| Agriculture operations loans - $250k-1MM | 6 | $959 | $159,833 |