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, Ponca City, and Guymon among others. We have data for 47 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% | 4/21/24 |
| 30 Year Conventional Refi | 6.63% | 4/21/24 |
| 30 Year Cash-out Refi | 6.83% | 4/21/24 |
| 30 Year FHA Purchase | 7.30% | 4/21/24 |
| 30 Year FHA Refi | 7.18% | 4/21/24 |
| 30 Year VA Purchase | 6.20% | 4/21/24 |
| 30 Year USDA Purchase | 6.77% | 4/21/24 |
| 15 Year Conventional Purchase | 5.92% | 4/21/24 |
| 15 Year Conventional Refi | 6.19% | 4/21/24 |
| 15 Year Cash-out Refi | 6.19% | 4/21/24 |
| 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
1,074Origination Dollar Volume (All Markets)
$235,450,000Employee count
109Awards
F & M Bank - 2020
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For 2020, 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) | 736 | $168,380,000 | $228,777 | $3,852 | 3.24% |
| Outside of Metro Areas | 135 | $26,715,000 | $197,889 | $3,556 | 3.47% |
| TULSA, OK (FHA|USDA|VA) | 33 | $6,325,000 | $191,667 | $4,267 | 2.91% |
| Ardmore, OK (FHA|USDA|VA) | 29 | $6,215,000 | $214,310 | $4,437 | 3.22% |
| Ponca City, OK (FHA|USDA|VA) | 21 | $3,205,000 | $152,619 | $4,129 | 3.03% |
| Guymon, OK (FHA|USDA|VA) | 20 | $3,190,000 | $159,500 | $4,761 | 3.26% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 9 | $2,565,000 | $285,000 | $5,191 | 2.88% |
| Stephenville, TX (FHA|USDA|VA) | 8 | $1,790,000 | $223,750 | $3,518 | 3.16% |
| ENID, OK (FHA|USDA|VA) | 7 | $1,495,000 | $213,571 | $3,497 | 3.39% |
| Shawnee, OK (FHA|USDA|VA) | 6 | $1,380,000 | $230,000 | $5,000 | 3.35% |
| Bonham, TX (FHA|USDA|VA) | 7 | $1,305,000 | $186,429 | $3,613 | 2.95% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 4 | $990,000 | $247,500 | $5,305 | 3.31% |
| Woodward, OK (FHA|USDA|VA) | 5 | $815,000 | $163,000 | $3,754 | 3.08% |
| Miami, OK (FHA|USDA|VA) | 3 | $675,000 | $225,000 | $4,444 | 2.83% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $4,151 | 2.69% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $5,492 | 3.00% |
| Carlsbad-Artesia, NM (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $10,275 | 3.25% |
| ABILENE, TX (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $3,585 | 3.25% |
| LAWTON, OK (FHA|USDA|VA) | 3 | $545,000 | $181,667 | $3,232 | 3.71% |
| Brownwood, TX (FHA|USDA|VA) | 3 | $535,000 | $178,333 | $3,381 | 3.08% |
| Duncan, OK (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $3,170 | 3.38% |
| Altus, OK (FHA|USDA|VA) | 3 | $495,000 | $165,000 | $3,137 | 2.88% |
| SAN ANGELO, TX (FHA|USDA|VA) | 3 | $435,000 | $145,000 | $3,952 | 3.21% |
| YUBA CITY, CA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $2,700 | 3.38% |
| FORT SMITH, AR-OK (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $2,912 | 3.81% |
| TYLER, TX (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $4,431 | 3.38% |
| Stillwater, OK (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $5,224 | 2.81% |
| Elk City, OK (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $3,423 | 2.81% |
| Tahlequah, OK (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $3,083 | 2.88% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $5,360 | 3.75% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,011 | 3.38% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,176 | 2.50% |
| HOT SPRINGS, AR (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,790 | 3.50% |
| SALEM, OR (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,089 | 2.75% |
| AUBURN-OPELIKA, AL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,021 | 3.25% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $7,576 | 2.88% |
| McAlester, OK (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $1,684 | 4.06% |
| Klamath Falls, OR (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,256 | 3.75% |
| LONGVIEW, TX (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,605 | 2.38% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,625 | 2.88% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,500 | 3.75% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,988 | 3.50% |
| Kerrville, TX (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,568 | 4.13% |
| Durant, OK (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $4,076 | 2.63% |
| WACO, TX (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,026 | 2.75% |
| Muskogee, OK (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,617 | 4.13% |
| Bartlesville, OK (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $5,109 | 3.50% |
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 2020, F & M Bank's most frequently originated type of loan was Conventional, with 857 originations. Their 2nd most popular type was FHA, with 103 originations.
Loan Reason
For 2020, F & M Bank's most frequently cited loan purpose was Home Purchase, with 476 originations. The 2nd most popular reason was Refi, with 435 originations.
Loan Duration/Length
For 2020, F & M Bank's most frequently cited loan duration was 30 Year, with 773 originations. The 2nd most popular length was 15 Year, with 158 originations.
Origination Fees/Closing Costs
F & M Bank's average total fees were $4,158, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 698 originations.
Interest Rates
During 2020, F & M Bank's average interest rate for loans was 3.09%, while their most frequently originated rate bucket for loans was 2.5-3%, with 417 originations.
Loan Sizing
2020 saw F & M Bank place emphasis on $200k-400k loans with 446 originations, totaling $124,150,000 in origination value.
Applicant Income
F & M Bank lent most frequently to those with incomes in the $100k-150k range, with 237 originations. The second most popular income band? $50k-75k, with 234 originations.
Applicant Debt to Income Ratio
F & M Bank lent most frequently to those with DTI ratios of 20-30%, with 296 originations. The next most common DTI ratio? 30-36%, with 220 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.93%
F & M Bank has an average approval rate.
Pick Rate
Approvals leading to origination80.07%
F & M Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,074 | $235,450,000 | $219,227 |
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 | $34,093 |
| F & M Bank | 116 South Grand Street Crescent, OK 73028 | Full Service B&M | $73,376 |
| F & M Bank | 121 East Waterloo, Suite 1 Edmond, OK 73034 | Full Service B&M | $8,951 |
| F & M Bank | 1216 Piedmont Road Piedmont, OK 73078 | Full Service B&M | $103,743 |
| F & M Bank | 17100 North May Ave Edmond, OK 73012 | Full Service B&M | $19,570 |
| F & M Bank | 1800 East Oaklahoma Avenue Guthrie, OK 73044 | Full Service B&M | $94,346 |
| F & M Bank | 2211 South Division Guthrie, OK 73044 | Full Service B&M | $6,773 |
| F & M Bank | 601 South Main Street Kingfisher, OK 73750 | Full Service B&M | $124,057 |
For 2020, F & M Bank had 8 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $21,175 |
| Net interest income | $18,889 |
| Total noninterest income | $8,608 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $616 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $7,992 |
| Pre-tax net operating income | $9,975 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $9,551 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $9,551 |
| Minority interest net income | $0 |
| Net income | $9,551 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $9,551 |
F & M Bank's gross interest income from loans was $21,175,000.
F & M Bank's net interest income from loans was $18,889,000.
F & M Bank's fee based income from loans was $616,000.
F & M Bank's net income from loans was $9,551,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $2,286 |
| Provision for credit losses | $550 |
| Total noninterest expense | $16,972 |
| Salaries and employee benefits | $10,311 |
| Premises and equipment expense | $1,618 |
| Additional noninterest expense | $5,043 |
| Applicable income taxes | $424 |
| Net charge-offs | $16 |
| Cash dividends | $2,575 |
F & M Bank's interest expense for loans was $2,286,000.
F & M Bank's payroll and benefits expense were $10,311,000.
F & M Bank's property, plant and equipment expenses $1,618,000.
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 | $482,233 |
| Deposits held in domestic offices | $482,233 |
| Deposits by Individuals, partnerships, and corporations | $385,750 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $96,258 |
| 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 | $297,532 |
| Demand deposits | $284,179 |
| Nontransaction accounts | $184,701 |
| Money market deposit accounts (MMDAs) | $45,636 |
| Other savings deposits (excluding MMDAs) | $45,349 |
| Total time deposits | $93,716 |
| Total time and savings deposits | $198,054 |
| Noninterest-bearing deposits | $138,353 |
| Interest-bearing deposits | $343,880 |
| Retail deposits | $451,568 |
| IRAs and Keogh plan accounts | $8,266 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $561,850 |
| Cash & Balances due from depository institutions | $39,804 |
| Interest-bearing balances | $31,572 |
| Total securities | $155,700 |
| Federal funds sold & reverse repurchase | $19,175 |
| Net loans and leases | $324,108 |
| Loan and leases loss allowance | $5,262 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $6,226 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $359 |
| All other assets | $16,478 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $561,850 |
| Total Liabilities | $501,632 |
| Total deposits | $482,233 |
| Interest-bearing deposits | $343,880 |
| Deposits held in domestic offices | $482,233 |
| % insured (estimated) | $70 |
| Federal funds purchased and repurchase agreements | $5,877 |
| Trading liabilities | $0 |
| Other borrowed funds | $10,635 |
| Subordinated debt | $0 |
| All other liabilities | $2,887 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $324,108 |
| Loan and leases loss allowance | $5,262 |
| Total loans and leases (domestic) | $329,370 |
| All real estate loans | $210,816 |
| Real estate loans in domestic offices | $210,816 |
| Construction and development loans | $41,387 |
| Residential 1-4 family construction | $14,480 |
| Other construction, all land development and other land | $26,907 |
| Loans secured by nonfarm nonresidential properties | $79,262 |
| Nonfarm nonresidential secured by owner-occupied properties | $33,723 |
| Commercial real estate & other non-farm, non-residential | $45,539 |
| Multifamily residential real estate | $5,175 |
| 1-4 family residential loans | $68,183 |
| Farmland loans | $16,809 |
| Loans held in foreign offices | $0 |
| Farm loans | $13,649 |
| Commercial and industrial loans | $49,473 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $9,669 |
| Credit card loans | $384 |
| Related Plans | $0 |
| Consumer Auto Loans | $3,665 |
| Other loans to individuals | $5,620 |
| All other loans & leases | $45,763 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $901 |
| 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 $324,108,000 of loans outstanding in 2020. $210,816,000 of loans were in real estate loans. $41,387,000 of loans were in development loans. $5,175,000 of loans were in multifamily mortgage loans. $68,183,000 of loans were in 1-4 family mortgage loans. $13,649,000 of loans were in farm loans. $384,000 of loans were in credit card loans. $3,665,000 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 | 136 | $29,958 | $220,279 |
| Nonfarm, nonresidential loans - <$100k | 37 | $1,478 | $39,946 |
| Nonfarm, nonresidential loans - $100-250k | 40 | $4,809 | $120,225 |
| Nonfarm, nonresidential loans - $250k-1MM | 59 | $23,671 | $401,203 |
| Commercial & Industrial, US addressed loans - <$1MM | 657 | $31,260 | $47,580 |
| Commercial & Industrial, US addressed loans - <$100k | 545 | $12,252 | $22,481 |
| Commercial & Industrial, US addressed loans - $100-250k | 75 | $8,748 | $116,640 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 37 | $10,260 | $277,297 |
| Farmland loans - <$1MM | 125 | $11,296 | $90,368 |
| Farmland loans - <$100k | 68 | $2,702 | $39,735 |
| Farmland loans - $100-250k | 45 | $5,440 | $120,889 |
| Farmland loans - $250k-1MM | 12 | $3,154 | $262,833 |
| Agriculture operations loans - <$1MM | 254 | $7,682 | $30,244 |
| Agriculture operations loans - <$100k | 216 | $4,268 | $19,759 |
| Agriculture operations loans - $100-250k | 32 | $2,508 | $78,375 |
| Agriculture operations loans - $250k-1MM | 6 | $906 | $151,000 |