F&m Bank Mortgage Rates, Fees & Info

Washington, GA

LEI: 549300XP5418ENGZVD49

Tax ID: 58-0553953

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    F&m Bank is a smaller bank specializing in Refi and Home Purchase loans. F&m Bank has a high proportion of conventional loans. Their top markets by origination volume include: Augusta, Atlanta, Athens, and Milledgeville among others. We have data for 5 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 an above 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 relatively high 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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    Originations

    120

    Origination Dollar Volume (All Markets)

    $13,160,000

    Employee count

    61

    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
    Outside of Metro Areas 56 $6,320,000 $112,857 $940 6.54%
    AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 56 $5,660,000 $101,071 $1,501 6.70%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 5 $705,000 $141,000 $0 6.13%
    ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 2 $430,000 $215,000 $0 5.25%
    Milledgeville, GA (FHA|USDA|VA) 1 $45,000 $45,000 $0 5.25%
    F&m Bank's top markets include Augusta, Atlanta, Athens, and Milledgeville among others.

    Their top states include:
  • Georgia (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 119 $12,845,000 $107,941 $1,227 6.58%
    HELOC 1 $315,000 $315,000 n/a 4.70%

    For 2018, F&m Bank's most frequently originated type of loan was Conventional, with 119 originations. Their 2nd most popular type was HELOC, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 56 $7,710,000 $137,679 $622 6.50%
    Home Purchase 35 $2,995,000 $85,571 $1,977 6.42%
    Cash Out Refi 16 $1,470,000 $91,875 $1,002 6.79%
    Home Improvement 10 $900,000 $90,000 $895 6.99%
    Other 3 $85,000 $28,333 $1,458 6.92%

    For 2018, F&m Bank's most frequently cited loan purpose was Refi, with 56 originations. The 2nd most popular reason was Home Purchase, with 35 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 75 $8,475,000 $113,000 $803 6.62%
    30 Year 11 $1,775,000 $161,364 $2,005 6.70%
    3 Year 10 $910,000 $91,000 $0 5.70%
    15 Year 10 $450,000 $45,000 $1,252 7.28%
    5 Year 7 $1,005,000 $143,571 $0 5.96%
    10 Year 6 $230,000 $38,333 $1,379 6.91%
    1 Year 1 $315,000 $315,000 $0 4.70%

    For 2018, F&m Bank's most frequently cited loan duration was Other, with 75 originations. The 2nd most popular length was 30 Year, with 11 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 38 $2,620,000 $68,947
    $1k-2k 7 $1,315,000 $187,857

    F&m Bank's average total fees were $2,005, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 38 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 40 $5,110,000 $127,750
    6-7% 38 $4,380,000 $115,263
    7-8% 23 $1,645,000 $71,522
    Over 8% 14 $880,000 $62,857
    4-5% 4 $1,090,000 $272,500

    During 2018, F&m Bank's average interest rate for loans was 6.70%, while their most frequently originated rate bucket for loans was 5-6%, with 40 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 71 $3,325,000 $46,831 $1,135 6.84%
    $100k-200k 31 $4,095,000 $132,097 $1,500 6.16%
    $200k-400k 14 $3,640,000 $260,000 $756 6.44%
    $400k-600k 3 $1,375,000 $458,333 $1,266 5.72%
    $600k-1MM 1 $725,000 $725,000 $0 4.50%

    2018 saw F&m Bank place emphasis on $100,000 or less loans with 71 originations, totaling $3,325,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 35 $2,085,000 $59,571 $1,147 7.24%
    $50k-75k 17 $1,705,000 $100,294 $1,292 6.92%
    $75k-100k 15 $1,695,000 $113,000 $1,403 6.14%
    $100k-150k 12 $1,470,000 $122,500 $1,079 6.40%
    $150k-250k 11 $1,815,000 $165,000 $1,165 6.56%
    $250k+ 10 $1,460,000 $146,000 $1,681 5.92%

    F&m Bank lent most frequently to those with incomes in the $50k or less range, with 35 originations. The second most popular income band? $50k-75k, with 17 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 26 $2,730,000 $105,000 $1,845 6.51%
    20-30% 14 $1,220,000 $87,143 $1,188 6.15%
    30-36% 11 $1,385,000 $125,909 $1,116 7.61%
    42% 6 $590,000 $98,333 $804 7.36%
    43% 4 $380,000 $95,000 $902 6.39%
    44% 3 $85,000 $28,333 $1,179 8.04%
    37% 3 $335,000 $111,667 $2,276 6.76%
    >60% 2 $110,000 $55,000 $0 5.63%
    38% 2 $70,000 $35,000 $922 8.31%
    40% 2 $50,000 $25,000 $1,333 6.87%
    41% 2 $100,000 $50,000 $584 6.40%
    46% 2 $40,000 $20,000 $0 7.00%
    50-60% 1 $5,000 $5,000 $233 8.98%
    36% 1 $225,000 $225,000 $996 8.79%

    F&m Bank lent most frequently to those with DTI ratios of <20%, with 26 originations. The next most common DTI ratio? 20-30%, with 14 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 75 $8,425,000 $112,333 $1,203 6.61%
    Not applicable 17 $2,815,000 $165,588 $0 5.79%
    Black 20 $970,000 $48,500 $1,288 7.07%
    Asian Indian 4 $600,000 $150,000 $0 6.10%
    Asian 3 $295,000 $98,333 $1,200 6.23%
    Not provided 1 $55,000 $55,000 $1,775 9.18%

    Approval Rates

    Total approvals of all applications
    94.07%

    F&m Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    94.17%

    F&m Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 120 $13,160,000 $109,667

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $375,000 $375,000
    Single Family (1-4 Units):Manufactured 19 $1,275,000 $67,105
    Single Family (1-4 Units):Site-Built 100 $11,510,000 $115,100

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 16 $1,660,000 $103,750 $992 6.47%
    40-60% 17 $1,235,000 $72,647 $1,071 6.46%
    60-80% 51 $6,345,000 $124,412 $1,498 6.35%
    80-100% 22 $2,970,000 $135,000 $1,326 6.70%
    Over 100% 2 $460,000 $230,000 $0 8.50%
    Under 20% 11 $415,000 $37,727 $513 6.99%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    F&M Bank 114 South Hulin Avenue Tignall, GA 30668 Full Service B&M $7,095
    F&M Bank 123 Broad Street Crawfordville, GA 30631 Full Service B&M $20,218
    F&M Bank 201 East Robert Toombs Avenue Washington, GA 30673 Full Service B&M $11,935
    F&M Bank 317 South Washington Street Lincolnton, GA 30817 Full Service B&M $18,473
    F&M Bank 3861 Evans To Locke Road Martinez, GA 30907 Full Service B&M $28,045
    F&M Bank 911 East Robert Toombs Avenue Washington, GA 30673 Full Service B&M $133,139

    For 2018, F&m Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $11,213
    Net interest income $9,965
    Total noninterest income $1,250
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $770
    Trading account gains and fees $0
    Additional Noninterest Income $480
    Pre-tax net operating income $3,306
    Securities gains (or losses, -) $15
    Income before extraordinary items $2,750
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,750
    Minority interest net income $0
    Net income $2,750
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,737

    F&m Bank's gross interest income from loans was $11,213,000.
    F&m Bank's net interest income from loans was $9,965,000.
    F&m Bank's fee based income from loans was $770,000.
    F&m Bank's net income from loans was $2,750,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,248
    Provision for credit losses $100
    Total noninterest expense $7,809
    Salaries and employee benefits $4,693
    Premises and equipment expense $588
    Additional noninterest expense $2,528
    Applicable income taxes $571
    Net charge-offs $365
    Cash dividends $901

    F&m Bank's interest expense for loans was $1,248,000.
    F&m Bank's payroll and benefits expense were $4,693,000.
    F&m Bank's property, plant and equipment expenses $588,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 2.0%
    Real Estate loans 2.0%
    Construction & Land Development loans 3.0%
    Nonfarm, nonresidential loans 3.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 4.0%
    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 $216,143
    Deposits held in domestic offices $216,143
    Deposits by Individuals, partnerships, and corporations $186,289
    Deposits by U.S. Government $93
    Deposits by States and political subdivisions in the U.S. $29,761
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $92,730
    Demand deposits $92,721
    Nontransaction accounts $123,413
    Money market deposit accounts (MMDAs) $15,077
    Other savings deposits (excluding MMDAs) $21,416
    Total time deposits $86,919
    Total time and savings deposits $123,422
    Noninterest-bearing deposits $44,617
    Interest-bearing deposits $171,526
    Retail deposits $203,115
    IRAs and Keogh plan accounts $14,703
    Brokered deposits $2,057
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $264,948
    Cash & Balances due from depository institutions $12,271
    Interest-bearing balances $6,611
    Total securities $93,382
    Federal funds sold & reverse repurchase $0
    Net loans and leases $141,355
    Loan and leases loss allowance $2,424
    Trading account assets $0
    Bank premises and fixed assets $4,118
    Other real estate owned $1,017
    Goodwill and other intangibles $0
    All other assets $12,805

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $264,948
    Total Liabilities $221,861
    Total deposits $216,143
    Interest-bearing deposits $171,526
    Deposits held in domestic offices $216,143
    % insured (estimated) $85
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $2,000
    Subordinated debt $0
    All other liabilities $3,718

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $141,355
    Loan and leases loss allowance $2,424
    Total loans and leases (domestic) $143,779
    All real estate loans $124,907
    Real estate loans in domestic offices $124,907
    Construction and development loans $23,608
    Residential 1-4 family construction $13,074
    Other construction, all land development and other land $10,534
    Loans secured by nonfarm nonresidential properties $27,616
    Nonfarm nonresidential secured by owner-occupied properties $20,229
    Commercial real estate & other non-farm, non-residential $7,387
    Multifamily residential real estate $6,435
    1-4 family residential loans $48,121
    Farmland loans $19,127
    Loans held in foreign offices $0
    Farm loans $6
    Commercial and industrial loans $9,565
    To non-U.S. addressees $0
    Loans to individuals $8,049
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $1,905
    Other loans to individuals $6,144
    All other loans & leases $1,252
    Loans to foreign governments and official institutions $0
    Other loans $0
    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 $141,355,000 of loans outstanding in 2018. $124,907,000 of loans were in real estate loans. $23,608,000 of loans were in development loans. $6,435,000 of loans were in multifamily mortgage loans. $48,121,000 of loans were in 1-4 family mortgage loans. $6,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,905,000 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 123 $20,724 $168,488
    Nonfarm, nonresidential loans - <$100k 44 $1,670 $37,955
    Nonfarm, nonresidential loans - $100-250k 44 $5,639 $128,159
    Nonfarm, nonresidential loans - $250k-1MM 35 $13,415 $383,286
    Commercial & Industrial, US addressed loans - <$1MM 202 $7,843 $38,827
    Commercial & Industrial, US addressed loans - <$100k 170 $3,628 $21,341
    Commercial & Industrial, US addressed loans - $100-250k 24 $2,285 $95,208
    Commercial & Industrial, US addressed loans - $250k-1MM 8 $1,930 $241,250
    Farmland loans - <$1MM 172 $14,243 $82,808
    Farmland loans - <$100k 119 $4,537 $38,126
    Farmland loans - $100-250k 34 $4,798 $141,118
    Farmland loans - $250k-1MM 19 $4,908 $258,316
    Agriculture operations loans - <$1MM 2 $6 $3,000
    Agriculture operations loans - <$100k 2 $6 $3,000