Farmers State Bank & Trust Co. Mortgage Rates, Fees & Info
Church Point, LALEI: 549300YBDQ281GX1LB13
Tax ID: 72-0358475
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Mortgage Data
Bank Data
Review & Overview
Farmers State Bank & Trust Co. is a smaller bank specializing in Refi, Cash Out Refi, and Home Purchase loans. Farmers State Bank & Trust Co. has a high proportion of conventional loans. Their top markets by origination volume include: Lafayette, Opelousas, and Natchitoches among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Farmers State Bank & Trust Co. 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. They typically have about average rates.
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Originations
38Origination Dollar Volume (All Markets)
$3,190,000Employee count
43Top 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 |
|---|---|---|---|---|---|
| LAFAYETTE, LA (FHA|USDA|VA) | 29 | $2,475,000 | $85,345 | $0 | 6.29% |
| Opelousas, LA (FHA|USDA|VA) | 7 | $605,000 | $86,429 | $0 | 6.42% |
| Natchitoches, LA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 6.00% |
| Outside of Metro Areas | 1 | $45,000 | $45,000 | $0 | 8.04% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 38 | $3,190,000 | $83,947 | $0 | 6.35% |
For 2018, Farmers State Bank & Trust Co.'s most frequently originated type of loan was Conventional, with 38 originations.
Loan Reason
For 2018, Farmers State Bank & Trust Co.'s most frequently cited loan purpose was Refi, with 15 originations. The 2nd most popular reason was Cash Out Refi, with 9 originations.
Loan Duration/Length
For 2018, Farmers State Bank & Trust Co.'s most frequently cited loan duration was Other, with 13 originations. The 2nd most popular length was 5 Year, with 9 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 16 | $600,000 | $37,500 |
Farmers State Bank & Trust Co.'s average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 16 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 19 | $1,995,000 | $105,000 |
| 6-7% | 8 | $330,000 | $41,250 |
| Over 8% | 6 | $190,000 | $31,667 |
| 4-5% | 3 | $605,000 | $201,667 |
| 7-8% | 2 | $70,000 | $35,000 |
During 2018, Farmers State Bank & Trust Co.'s average interest rate for loans was 4.65%, while their most frequently originated rate bucket for loans was 5-6%, with 19 originations.
Loan Sizing
2018 saw Farmers State Bank & Trust Co. place emphasis on $100,000 or less loans with 30 originations, totaling $1,230,000 in origination value.
Applicant Income
Farmers State Bank & Trust Co. lent most frequently to those with incomes in the $50k or less range, with 10 originations. The second most popular income band? $50k-75k, with 6 originations.
Applicant Debt to Income Ratio
Farmers State Bank & Trust Co. lent most frequently to those with DTI ratios of <20%, with 9 originations. The next most common DTI ratio? 30-36%, with 5 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.65%
Farmers State Bank & Trust Co. has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination84.21%
Farmers State Bank & Trust Co. has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 10.0 | 1 | $245,000 | $245,000 |
| 1010.0 | 2 | $70,000 | $35,000 |
| 2164.22 | 1 | $15,000 | $15,000 |
| 2924.0 | 1 | $85,000 | $85,000 |
| 300.0 | 2 | $80,000 | $40,000 |
| 510.0 | 1 | $55,000 | $55,000 |
| 600.0 | 6 | $190,000 | $31,667 |
| 610.0 | 3 | $105,000 | $35,000 |
| NA | 21 | $2,345,000 | $111,667 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 9 | $305,000 | $33,889 |
| Single Family (1-4 Units):Site-Built | 29 | $2,885,000 | $99,483 |
LTV Distribution
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Farmers State Bank & Trust Co. | 110 West Plaquemine Church Point, LA 70525 | Full Service B&M | $52,741 |
| Farmers State Bank & Trust Co. | 1950 Ridge Road Duson, LA 70529 | Full Service B&M | $21,070 |
| Farmers State Bank & Trust Co. | 216 Main Street Cankton, LA 70584 | Full Service B&M | $10,713 |
| Farmers State Bank & Trust Co. | 250 South Main Street Church Point, LA 70525 | Full Service B&M | $8,016 |
| Farmers State Bank & Trust Co. | 412 Iberia Street Youngsville, LA 70592 | Full Service B&M | $11,347 |
For 2018, Farmers State Bank & Trust Co. had 5 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $5,396 |
| Net interest income | $5,065 |
| Total noninterest income | $862 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $466 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $396 |
| Pre-tax net operating income | $1,781 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $1,781 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $1,781 |
| Minority interest net income | $0 |
| Net income | $1,781 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $1,781 |
Farmers State Bank & Trust Co.'s gross interest income from loans was $5,396,000.
Farmers State Bank & Trust Co.'s net interest income from loans was $5,065,000.
Farmers State Bank & Trust Co.'s fee based income from loans was $466,000.
Farmers State Bank & Trust Co.'s net income from loans was $1,781,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $331 |
| Provision for credit losses | $115 |
| Total noninterest expense | $4,031 |
| Salaries and employee benefits | $2,568 |
| Premises and equipment expense | $390 |
| Additional noninterest expense | $1,073 |
| Applicable income taxes | $0 |
| Net charge-offs | $94 |
| Cash dividends | $1,148 |
Farmers State Bank & Trust Co.'s interest expense for loans was $331,000.
Farmers State Bank & Trust Co.'s payroll and benefits expense were $2,568,000.
Farmers State Bank & Trust Co.'s property, plant and equipment expenses $390,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 1.0% |
| Real Estate loans | 2.0% |
| Construction & Land Development loans | 0.0% |
| Nonfarm, nonresidential loans | 4.0% |
| 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 | 1.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $94,997 |
| Deposits held in domestic offices | $94,997 |
| Deposits by Individuals, partnerships, and corporations | $86,063 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $8,934 |
| 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 | $45,164 |
| Demand deposits | $33,809 |
| Nontransaction accounts | $49,833 |
| Money market deposit accounts (MMDAs) | $6,634 |
| Other savings deposits (excluding MMDAs) | $15,951 |
| Total time deposits | $27,248 |
| Total time and savings deposits | $61,188 |
| Noninterest-bearing deposits | $33,809 |
| Interest-bearing deposits | $61,188 |
| Retail deposits | $91,094 |
| IRAs and Keogh plan accounts | $3,203 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $107,750 |
| Cash & Balances due from depository institutions | $3,942 |
| Interest-bearing balances | $0 |
| Total securities | $30,177 |
| Federal funds sold & reverse repurchase | $1,900 |
| Net loans and leases | $66,273 |
| Loan and leases loss allowance | $1,281 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $1,956 |
| Other real estate owned | $67 |
| Goodwill and other intangibles | $0 |
| All other assets | $3,435 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $107,750 |
| Total Liabilities | $95,467 |
| Total deposits | $94,997 |
| Interest-bearing deposits | $61,188 |
| Deposits held in domestic offices | $94,997 |
| % insured (estimated) | $88 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $0 |
| All other liabilities | $470 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $66,273 |
| Loan and leases loss allowance | $1,281 |
| Total loans and leases (domestic) | $67,554 |
| All real estate loans | $53,458 |
| Real estate loans in domestic offices | $53,458 |
| Construction and development loans | $13,961 |
| Residential 1-4 family construction | $2,974 |
| Other construction, all land development and other land | $10,987 |
| Loans secured by nonfarm nonresidential properties | $24,620 |
| Nonfarm nonresidential secured by owner-occupied properties | $19,803 |
| Commercial real estate & other non-farm, non-residential | $4,817 |
| Multifamily residential real estate | $11 |
| 1-4 family residential loans | $12,557 |
| Farmland loans | $2,309 |
| Loans held in foreign offices | $0 |
| Farm loans | $1,728 |
| Commercial and industrial loans | $9,676 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $2,692 |
| Credit card loans | $0 |
| Related Plans | $15 |
| Consumer Auto Loans | $1,349 |
| Other loans to individuals | $1,328 |
| All other loans & leases | $0 |
| 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 | $131 |
| Non 1-4 family restructured loans & leases | $16 |
| Total loans and leases (foreign) | $0 |
Farmers State Bank & Trust Co. had $66,273,000 of loans outstanding in 2018. $53,458,000 of loans were in real estate loans. $13,961,000 of loans were in development loans. $11,000 of loans were in multifamily mortgage loans. $12,557,000 of loans were in 1-4 family mortgage loans. $1,728,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,349,000 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 | 68 | $14,656 | $215,529 |
| Nonfarm, nonresidential loans - <$100k | 29 | $1,166 | $40,207 |
| Nonfarm, nonresidential loans - $100-250k | 18 | $3,103 | $172,389 |
| Nonfarm, nonresidential loans - $250k-1MM | 21 | $10,387 | $494,619 |
| Commercial & Industrial, US addressed loans - <$1MM | 249 | $9,662 | $38,803 |
| Commercial & Industrial, US addressed loans - <$100k | 232 | $5,220 | $22,500 |
| Commercial & Industrial, US addressed loans - $100-250k | 13 | $1,890 | $145,385 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 4 | $2,552 | $638,000 |
| Farmland loans - <$1MM | 20 | $2,309 | $115,450 |
| Farmland loans - <$100k | 12 | $365 | $30,417 |
| Farmland loans - $100-250k | 5 | $832 | $166,400 |
| Farmland loans - $250k-1MM | 3 | $1,112 | $370,667 |
| Agriculture operations loans - <$1MM | 8 | $910 | $113,750 |
| Agriculture operations loans - <$100k | 5 | $196 | $39,200 |
| Agriculture operations loans - $100-250k | 2 | $336 | $168,000 |
| Agriculture operations loans - $250k-1MM | 1 | $378 | $378,000 |