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 loans. Farmers State Bank & Trust Co. has a high proportion of conventional loans. Their top markets by origination volume include: Lafayette, Opelousas, and Lake Charles among others. We have data for 3 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 an above average pick rate when compared to similar lenders.
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Originations
47Origination Dollar Volume (All Markets)
$4,145,000Employee count
42Top 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) | 36 | $3,480,000 | $96,667 | $2,464 | 6.41% |
| Opelousas, LA (FHA|USDA|VA) | 10 | $390,000 | $39,000 | $0 | 7.92% |
| LAKE CHARLES, LA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 5.55% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 47 | $4,145,000 | $88,191 | $2,464 | 6.71% |
For 2019, Farmers State Bank & Trust Co.'s most frequently originated type of loan was Conventional, with 47 originations.
Loan Reason
For 2019, Farmers State Bank & Trust Co.'s most frequently cited loan purpose was Refi, with 27 originations. The 2nd most popular reason was Home Purchase, with 7 originations.
Loan Duration/Length
For 2019, Farmers State Bank & Trust Co.'s most frequently cited loan duration was 5 Year, with 11 originations. The 2nd most popular length was Other, with 11 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 21 | $905,000 | $43,095 |
| $1k-2k | 1 | $135,000 | $135,000 |
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 21 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 24 | $3,120,000 | $130,000 |
| 6-7% | 10 | $440,000 | $44,000 |
| Over 8% | 6 | $180,000 | $30,000 |
| 7-8% | 5 | $305,000 | $61,000 |
| 4-5% | 2 | $100,000 | $50,000 |
During 2019, Farmers State Bank & Trust Co.'s average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 24 originations.
Loan Sizing
2019 saw Farmers State Bank & Trust Co. place emphasis on $100,000 or less loans with 34 originations, totaling $1,560,000 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? $100k-150k, with 8 originations.
Applicant Debt to Income Ratio
Farmers State Bank & Trust Co. lent most frequently to those with DTI ratios of 20-30%, with 9 originations. The next most common DTI ratio? <20%, with 6 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.23%
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 origination91.49%
Farmers State Bank & Trust Co. has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1010.0 | 1 | $25,000 | $25,000 |
| 1778.5 | 1 | $65,000 | $65,000 |
| 210.0 | 1 | $25,000 | $25,000 |
| 600.0 | 3 | $115,000 | $38,333 |
| 610.0 | 9 | $395,000 | $43,889 |
| NA | 32 | $3,520,000 | $110,000 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 3 | $95,000 | $31,667 |
| Single Family (1-4 Units):Site-Built | 44 | $4,050,000 | $92,045 |
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 | $49,437 |
| Farmers State Bank & Trust Co. | 1950 Ridge Road Duson, LA 70529 | Full Service B&M | $20,898 |
| Farmers State Bank & Trust Co. | 216 Main Street Cankton, LA 70584 | Full Service B&M | $10,947 |
| Farmers State Bank & Trust Co. | 250 South Main Street Church Point, LA 70525 | Full Service B&M | $8,374 |
| Farmers State Bank & Trust Co. | 412 Iberia Street Youngsville, LA 70592 | Full Service B&M | $9,270 |
For 2019, Farmers State Bank & Trust Co. had 5 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $5,534 |
| Net interest income | $5,107 |
| Total noninterest income | $858 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $460 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $398 |
| Pre-tax net operating income | $1,714 |
| Securities gains (or losses, -) | $6 |
| Income before extraordinary items | $1,720 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $1,720 |
| Minority interest net income | $0 |
| Net income | $1,720 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $1,714 |
Farmers State Bank & Trust Co.'s gross interest income from loans was $5,534,000.
Farmers State Bank & Trust Co.'s net interest income from loans was $5,107,000.
Farmers State Bank & Trust Co.'s fee based income from loans was $460,000.
Farmers State Bank & Trust Co.'s net income from loans was $1,720,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $427 |
| Provision for credit losses | $110 |
| Total noninterest expense | $4,141 |
| Salaries and employee benefits | $2,663 |
| Premises and equipment expense | $370 |
| Additional noninterest expense | $1,108 |
| Applicable income taxes | $0 |
| Net charge-offs | $36 |
| Cash dividends | $1,277 |
Farmers State Bank & Trust Co.'s interest expense for loans was $427,000.
Farmers State Bank & Trust Co.'s payroll and benefits expense were $2,663,000.
Farmers State Bank & Trust Co.'s property, plant and equipment expenses $370,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 1.0% |
| Real Estate loans | 1.0% |
| Construction & Land Development loans | 0.0% |
| Nonfarm, nonresidential loans | 3.0% |
| 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 | $98,692 |
| Deposits held in domestic offices | $98,692 |
| Deposits by Individuals, partnerships, and corporations | $89,577 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $9,115 |
| 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 | $47,086 |
| Demand deposits | $34,670 |
| Nontransaction accounts | $51,606 |
| Money market deposit accounts (MMDAs) | $7,165 |
| Other savings deposits (excluding MMDAs) | $16,713 |
| Total time deposits | $27,728 |
| Total time and savings deposits | $64,022 |
| Noninterest-bearing deposits | $34,670 |
| Interest-bearing deposits | $64,022 |
| Retail deposits | $95,943 |
| IRAs and Keogh plan accounts | $3,318 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $112,653 |
| Cash & Balances due from depository institutions | $3,948 |
| Interest-bearing balances | $0 |
| Total securities | $28,941 |
| Federal funds sold & reverse repurchase | $2,025 |
| Net loans and leases | $72,138 |
| Loan and leases loss allowance | $1,355 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $1,868 |
| Other real estate owned | $161 |
| Goodwill and other intangibles | $0 |
| All other assets | $3,572 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $112,653 |
| Total Liabilities | $99,246 |
| Total deposits | $98,692 |
| Interest-bearing deposits | $64,022 |
| Deposits held in domestic offices | $98,692 |
| % insured (estimated) | $89 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $0 |
| All other liabilities | $554 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $72,138 |
| Loan and leases loss allowance | $1,355 |
| Total loans and leases (domestic) | $73,493 |
| All real estate loans | $55,626 |
| Real estate loans in domestic offices | $55,626 |
| Construction and development loans | $15,577 |
| Residential 1-4 family construction | $1,219 |
| Other construction, all land development and other land | $14,358 |
| Loans secured by nonfarm nonresidential properties | $23,443 |
| Nonfarm nonresidential secured by owner-occupied properties | $17,604 |
| Commercial real estate & other non-farm, non-residential | $5,839 |
| Multifamily residential real estate | $8 |
| 1-4 family residential loans | $13,482 |
| Farmland loans | $3,116 |
| Loans held in foreign offices | $0 |
| Farm loans | $3,104 |
| Commercial and industrial loans | $11,809 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $2,954 |
| Credit card loans | $0 |
| Related Plans | $15 |
| Consumer Auto Loans | $1,610 |
| Other loans to individuals | $1,329 |
| 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 | $228 |
| Non 1-4 family restructured loans & leases | $128 |
| Total loans and leases (foreign) | $0 |
Farmers State Bank & Trust Co. had $72,138,000 of loans outstanding in 2019. $55,626,000 of loans were in real estate loans. $15,577,000 of loans were in development loans. $8,000 of loans were in multifamily mortgage loans. $13,482,000 of loans were in 1-4 family mortgage loans. $3,104,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,610,000 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 | 70 | $13,925 | $198,929 |
| Nonfarm, nonresidential loans - <$100k | 34 | $1,462 | $43,000 |
| Nonfarm, nonresidential loans - $100-250k | 19 | $3,423 | $180,158 |
| Nonfarm, nonresidential loans - $250k-1MM | 17 | $9,040 | $531,765 |
| Commercial & Industrial, US addressed loans - <$1MM | 280 | $11,807 | $42,168 |
| Commercial & Industrial, US addressed loans - <$100k | 263 | $5,837 | $22,194 |
| Commercial & Industrial, US addressed loans - $100-250k | 10 | $1,618 | $161,800 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 7 | $4,352 | $621,714 |
| Farmland loans - <$1MM | 23 | $3,116 | $135,478 |
| Farmland loans - <$100k | 12 | $373 | $31,083 |
| Farmland loans - $100-250k | 6 | $900 | $150,000 |
| Farmland loans - $250k-1MM | 5 | $1,843 | $368,600 |
| Agriculture operations loans - <$1MM | 13 | $1,804 | $138,769 |
| Agriculture operations loans - <$100k | 7 | $420 | $60,000 |
| Agriculture operations loans - $100-250k | 3 | $536 | $178,667 |
| Agriculture operations loans - $250k-1MM | 3 | $848 | $282,667 |