F & M Bank Mortgage Rates, Fees & Info

Edmond, OK

LEI: 549300X2FI65C4A30O27

Tax ID: 73-0236480

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Mortgage Data

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, 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.

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 6.65% 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






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from F & M Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

646

Origination Dollar Volume (All Markets)

$123,760,000

Employee count

104

Awards

F & M Bank FHA Loans bronze F & M Bank VA Loans gold
Show all (2) awards

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

Their top states include:
  • Oklahoma (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • New Mexico (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)
  • 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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 477 $94,815,000 $198,774 $3,328 4.66%
    FHA 102 $15,370,000 $150,686 $5,696 4.08%
    VA 49 $11,325,000 $231,122 $5,466 3.78%
    USDA 18 $2,250,000 $125,000 $4,460 3.99%

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 412 $74,180,000 $180,049 $4,264 4.32%
    Refi 125 $31,435,000 $251,480 $3,512 4.63%
    Cash Out Refi 79 $15,595,000 $197,405 $3,802 4.70%
    Home Improvement 23 $2,125,000 $92,391 $1,824 5.57%
    Other 7 $425,000 $60,714 $515 5.88%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 464 $94,740,000 $204,181 $4,278 4.16%
    15 Year 74 $9,350,000 $126,351 $3,079 4.73%
    20 Year 50 $8,090,000 $161,800 $2,758 5.31%
    1 Year 20 $3,900,000 $195,000 $2,365 5.93%
    Other 17 $1,855,000 $109,118 $1,508 6.29%
    10 Year 11 $645,000 $58,636 $1,268 5.78%
    5 Year 6 $4,980,000 $830,000 $911 5.79%
    3 Year 4 $200,000 $50,000 $366 6.25%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 322 $61,890,000 $192,205
    $<1k 218 $41,720,000 $191,376
    $2k-3k 26 $5,960,000 $229,231
    $3k-4k 5 $955,000 $191,000
    $4k-5k 1 $475,000 $475,000
    $5k+ 1 $305,000 $305,000

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 264 $39,250,000 $148,674 $3,984 4.36%
    $200k-400k 199 $53,765,000 $270,176 $4,467 4.12%
    $100,000 or less 148 $9,650,000 $65,203 $2,920 5.24%
    $400k-600k 31 $14,275,000 $460,484 $4,081 4.23%
    $600k-1MM 3 $2,195,000 $731,667 $4,169 5.17%
    $1MM+ 1 $4,625,000 $4,625,000 $0 4.75%

    2019 saw F & M Bank place emphasis on $100k-200k loans with 264 originations, totaling $39,250,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 139 $21,625,000 $155,576 $4,273 4.27%
    $100k-150k 128 $28,140,000 $219,844 $3,788 4.39%
    $50k or less 118 $13,040,000 $110,508 $3,659 4.45%
    $75k-100k 112 $21,440,000 $191,429 $4,208 4.34%
    $150k-250k 69 $18,655,000 $270,362 $4,030 4.33%
    $250k+ 35 $10,175,000 $290,714 $3,656 4.60%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 149 $26,595,000 $178,490 $3,622 4.43%
    30-36% 125 $25,135,000 $201,080 $4,197 4.25%
    <20% 63 $10,755,000 $170,714 $3,249 4.51%
    41% 31 $6,805,000 $219,516 $3,821 4.46%
    40% 22 $3,910,000 $177,727 $3,605 4.68%
    37% 22 $4,450,000 $202,273 $4,403 4.32%
    43% 21 $4,035,000 $192,143 $4,439 4.15%
    42% 20 $3,720,000 $186,000 $3,937 4.08%
    36% 20 $3,280,000 $164,000 $3,939 4.56%
    38% 20 $3,400,000 $170,000 $4,280 4.20%
    39% 20 $3,920,000 $196,000 $4,032 4.34%
    45% 16 $3,750,000 $234,375 $4,229 4.22%
    44% 14 $3,060,000 $218,571 $4,160 4.30%
    50-60% 13 $2,715,000 $208,846 $6,639 3.80%
    49% 13 $2,375,000 $182,692 $4,154 4.00%
    47% 12 $2,580,000 $215,000 $5,043 4.44%
    46% 8 $1,080,000 $135,000 $3,621 4.25%
    48% 5 $1,165,000 $233,000 $3,676 4.15%
    >60% 2 $350,000 $175,000 $383 6.25%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 498 $94,020,000 $188,795 $3,944 4.35%
    American Indian 46 $9,960,000 $216,522 $4,499 4.27%
    Not applicable 40 $9,710,000 $242,750 $0 6.13%
    Not provided 36 $4,890,000 $135,833 $3,904 4.80%
    Black 15 $3,115,000 $207,667 $3,586 4.40%
    Asian 6 $1,230,000 $205,000 $3,512 4.13%
    Asian Indian 3 $655,000 $218,333 $3,863 4.67%
    Other Asian 2 $180,000 $90,000 $2,802 4.94%

    Approval Rates

    Total approvals of all applications
    93.68%

    F & M Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    78.48%

    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

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $455,000 $455,000
    Single Family (1-4 Units):Manufactured 11 $1,175,000 $106,818
    Single Family (1-4 Units):Site-Built 634 $122,130,000 $192,634

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 31 $2,625,000 $84,677 $1,732 5.27%
    40-60% 60 $8,810,000 $146,833 $3,063 4.70%
    60-80% 203 $41,755,000 $205,690 $3,665 4.58%
    80-100% 332 $63,500,000 $191,265 $4,462 4.28%
    Over 100% 8 $6,060,000 $757,500 $6,994 3.94%
    Under 20% 12 $1,010,000 $84,167 $1,763 5.79%

    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