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, Home Purchase, and Cash Out Refi loans. Farmers State Bank & Trust Co. has a high proportion of conventional loans. Their top markets by origination volume include: Lafayette, Crestview, Opelousas, Gulfport, and Lake Charles among others. We have data for 5 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.
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Originations
47Origination Dollar Volume (All Markets)
$5,385,000Employee 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) | 40 | $3,900,000 | $97,500 | $1,060 | 5.24% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $595,000 | $595,000 | $0 | 4.00% |
| Opelousas, LA (FHA|USDA|VA) | 4 | $500,000 | $125,000 | $0 | 5.92% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 4.50% |
| LAKE CHARLES, LA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 4.50% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 47 | $5,385,000 | $114,574 | $1,060 | 5.24% |
For 2020, Farmers State Bank & Trust Co.'s most frequently originated type of loan was Conventional, with 47 originations.
Loan Reason
For 2020, Farmers State Bank & Trust Co.'s most frequently cited loan purpose was Refi, with 22 originations. The 2nd most popular reason was Home Purchase, with 17 originations.
Loan Duration/Length
For 2020, Farmers State Bank & Trust Co.'s most frequently cited loan duration was Other, with 17 originations. The 2nd most popular length was 5 Year, with 13 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 16 | $1,020,000 | $63,750 |
| $1k-2k | 2 | $500,000 | $250,000 |
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 16 originations.
Interest Rates
During 2020, Farmers State Bank & Trust Co.'s average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 22 originations.
Loan Sizing
2020 saw Farmers State Bank & Trust Co. place emphasis on $100,000 or less loans with 30 originations, totaling $1,590,000 in origination value.
Applicant Income
Farmers State Bank & Trust Co. lent most frequently to those with incomes in the $50k-75k range, with 8 originations. The second most popular income band? $100k-150k, with 7 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 applications98.18%
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 origination85.11%
Farmers State Bank & Trust Co. has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1020.0 | 1 | $25,000 | $25,000 |
| 2113.0 | 1 | $55,000 | $55,000 |
| 2277.25 | 1 | $65,000 | $65,000 |
| 2305.75 | 1 | $65,000 | $65,000 |
| 2430.0 | 1 | $85,000 | $85,000 |
| 2546.5 | 1 | $55,000 | $55,000 |
| 2763.33 | 1 | $275,000 | $275,000 |
| 2990.5 | 1 | $225,000 | $225,000 |
| 510.0 | 1 | $45,000 | $45,000 |
| 600.0 | 2 | $220,000 | $110,000 |
| 610.0 | 1 | $45,000 | $45,000 |
| NA | 35 | $4,225,000 | $120,714 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 6 | $360,000 | $60,000 |
| Single Family (1-4 Units):Site-Built | 41 | $5,025,000 | $122,561 |
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 | $68,026 |
| Farmers State Bank & Trust Co. | 1950 Ridge Road Duson, LA 70529 | Full Service B&M | $22,746 |
| Farmers State Bank & Trust Co. | 216 Main Street Cankton, LA 70584 | Full Service B&M | $11,022 |
| Farmers State Bank & Trust Co. | 250 South Main Street Church Point, LA 70525 | Full Service B&M | $10,783 |
| Farmers State Bank & Trust Co. | 412 Iberia Street Youngsville, LA 70592 | Full Service B&M | $10,444 |
For 2020, Farmers State Bank & Trust Co. had 5 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $5,291 |
| Net interest income | $4,860 |
| Total noninterest income | $756 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $406 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $350 |
| Pre-tax net operating income | $1,212 |
| Securities gains (or losses, -) | $19 |
| Income before extraordinary items | $1,231 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $1,231 |
| Minority interest net income | $0 |
| Net income | $1,231 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $1,212 |
Farmers State Bank & Trust Co.'s gross interest income from loans was $5,291,000.
Farmers State Bank & Trust Co.'s net interest income from loans was $4,860,000.
Farmers State Bank & Trust Co.'s fee based income from loans was $406,000.
Farmers State Bank & Trust Co.'s net income from loans was $1,231,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $431 |
| Provision for credit losses | $160 |
| Total noninterest expense | $4,244 |
| Salaries and employee benefits | $2,545 |
| Premises and equipment expense | $419 |
| Additional noninterest expense | $1,280 |
| Applicable income taxes | $0 |
| Net charge-offs | $16 |
| Cash dividends | $889 |
Farmers State Bank & Trust Co.'s interest expense for loans was $431,000.
Farmers State Bank & Trust Co.'s payroll and benefits expense were $2,545,000.
Farmers State Bank & Trust Co.'s property, plant and equipment expenses $419,000.
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 | 2.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 3.0% |
| HELOC loans | 22.0% |
| All other family | 1.0% |
| 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 | $124,265 |
| Deposits held in domestic offices | $124,265 |
| Deposits by Individuals, partnerships, and corporations | $110,381 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $13,884 |
| 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 | $64,295 |
| Demand deposits | $49,142 |
| Nontransaction accounts | $59,970 |
| Money market deposit accounts (MMDAs) | $9,589 |
| Other savings deposits (excluding MMDAs) | $20,201 |
| Total time deposits | $30,180 |
| Total time and savings deposits | $75,123 |
| Noninterest-bearing deposits | $49,142 |
| Interest-bearing deposits | $75,123 |
| Retail deposits | $116,150 |
| IRAs and Keogh plan accounts | $3,256 |
| Brokered deposits | $3,498 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $139,406 |
| Cash & Balances due from depository institutions | $7,184 |
| Interest-bearing balances | $0 |
| Total securities | $32,143 |
| Federal funds sold & reverse repurchase | $14,800 |
| Net loans and leases | $79,977 |
| Loan and leases loss allowance | $1,499 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $1,798 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $0 |
| All other assets | $3,504 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $139,406 |
| Total Liabilities | $124,957 |
| Total deposits | $124,265 |
| Interest-bearing deposits | $75,123 |
| Deposits held in domestic offices | $124,265 |
| % insured (estimated) | $81 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $0 |
| All other liabilities | $692 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $79,977 |
| Loan and leases loss allowance | $1,499 |
| Total loans and leases (domestic) | $81,476 |
| All real estate loans | $58,122 |
| Real estate loans in domestic offices | $58,122 |
| Construction and development loans | $15,142 |
| Residential 1-4 family construction | $2,359 |
| Other construction, all land development and other land | $12,783 |
| Loans secured by nonfarm nonresidential properties | $25,729 |
| Nonfarm nonresidential secured by owner-occupied properties | $15,404 |
| Commercial real estate & other non-farm, non-residential | $10,325 |
| Multifamily residential real estate | $63 |
| 1-4 family residential loans | $13,830 |
| Farmland loans | $3,358 |
| Loans held in foreign offices | $0 |
| Farm loans | $998 |
| Commercial and industrial loans | $19,883 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $2,473 |
| Credit card loans | $0 |
| Related Plans | $17 |
| Consumer Auto Loans | $1,427 |
| Other loans to individuals | $1,029 |
| 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 | $595 |
| Non 1-4 family restructured loans & leases | $595 |
| Total loans and leases (foreign) | $0 |
Farmers State Bank & Trust Co. had $79,977,000 of loans outstanding in 2020. $58,122,000 of loans were in real estate loans. $15,142,000 of loans were in development loans. $63,000 of loans were in multifamily mortgage loans. $13,830,000 of loans were in 1-4 family mortgage loans. $998,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,427,000 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 | 72 | $12,561 | $174,458 |
| Nonfarm, nonresidential loans - <$100k | 30 | $1,023 | $34,100 |
| Nonfarm, nonresidential loans - $100-250k | 24 | $3,249 | $135,375 |
| Nonfarm, nonresidential loans - $250k-1MM | 18 | $8,289 | $460,500 |
| Commercial & Industrial, US addressed loans - <$1MM | 496 | $19,883 | $40,087 |
| Commercial & Industrial, US addressed loans - <$100k | 437 | $8,494 | $19,437 |
| Commercial & Industrial, US addressed loans - $100-250k | 39 | $4,004 | $102,667 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 20 | $7,385 | $369,250 |
| Farmland loans - <$1MM | 28 | $3,073 | $109,750 |
| Farmland loans - <$100k | 14 | $471 | $33,643 |
| Farmland loans - $100-250k | 7 | $799 | $114,143 |
| Farmland loans - $250k-1MM | 7 | $1,803 | $257,571 |
| Agriculture operations loans - <$1MM | 9 | $676 | $75,111 |
| Agriculture operations loans - <$100k | 3 | $165 | $55,000 |
| Agriculture operations loans - $100-250k | 5 | $453 | $90,600 |
| Agriculture operations loans - $250k-1MM | 1 | $58 | $58,000 |