Farmers And Merchants Union Bank Mortgage Rates, Fees & Info

Columbus, WI

LEI: 549300YHR41F57LS0R28

Tax ID: 39-0273630

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • 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

    Farmers And Merchants Union Bank is a smaller bank specializing in Home Purchase loans. Farmers And Merchants Union Bank has a high proportion of conventional loans. Their top markets by origination volume include: Madison, Beaver Dam, Milwaukee, Sheboygan, and Watertown among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Farmers And Merchants Union Bank has an average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Farmers And Merchants Union 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    Originations

    92

    Origination Dollar Volume (All Markets)

    $14,700,000

    Employee count

    53

    Awards

    Farmers and Merchants Union Bank 30 Year Conventional Loans gold Farmers and Merchants Union Bank 30 Year Conventional Loans gold Farmers and Merchants Union Bank 30 Year Conventional Loans gold
    Show all (3) awards

    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
    MADISON, WI (FHA|USDA|VA) 50 $8,600,000 $172,000 $881 5.03%
    Beaver Dam, WI (FHA|USDA|VA) 22 $3,130,000 $142,273 $1,194 5.01%
    Outside of Metro Areas 12 $1,570,000 $130,833 $1,424 5.57%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 2 $510,000 $255,000 $2,761 4.69%
    SHEBOYGAN, WI (FHA|USDA|VA) 2 $380,000 $190,000 $1,086 5.13%
    Watertown-Fort Atkinson, WI (FHA|USDA|VA) 2 $290,000 $145,000 $581 5.25%
    APPLETON, WI (FHA|USDA|VA) 1 $155,000 $155,000 $1,024 5.75%
    DULUTH, MN-WI (FHA|USDA|VA) 1 $65,000 $65,000 $912 4.88%
    Farmers And Merchants Union Bank's top markets include Madison, Beaver Dam, Milwaukee, Sheboygan, and Watertown among others.

    Their top states include:
  • Wisconsin (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Farmers and Merchants Union Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    HERITAGE CREDIT UNION
    Similarity Rank: 78
    United Community Bank
    Similarity Rank: 147
    State Bank of Cross Plains
    Similarity Rank: 207
    Horicon Bank
    Similarity Rank: 270
    Mound City Bank
    Similarity Rank: 280
    The First National Bank and Trust Company
    Similarity Rank: 289
    National Exchange Bank and Trust
    Similarity Rank: 297
    Landmark Credit Union
    Similarity Rank: 312
    Farmers and Merchants Union Bank
    Similarity Rank: 384
    Heartland Credit Union (Madison)
    Similarity Rank: 403

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 85 $13,735,000 $161,588 $879 5.10%
    USDA 7 $965,000 $137,857 $2,701 5.09%

    For 2018, Farmers And Merchants Union Bank's most frequently originated type of loan was Conventional, with 85 originations. Their 2nd most popular type was USDA, with 7 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 64 $11,230,000 $175,469 $1,326 5.06%
    Cash Out Refi 12 $1,780,000 $148,333 $701 4.98%
    Refi 11 $1,265,000 $115,000 $524 5.31%
    Home Improvement 4 $370,000 $92,500 $299 5.36%
    Other 1 $55,000 $55,000 $75 5.50%

    For 2018, Farmers And Merchants Union Bank's most frequently cited loan purpose was Home Purchase, with 64 originations. The 2nd most popular reason was Cash Out Refi, with 12 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 45 $8,365,000 $185,889 $1,269 4.85%
    Other 22 $1,840,000 $83,636 $452 5.63%
    15 Year 8 $1,080,000 $135,000 $980 4.45%
    3 Year 6 $1,050,000 $175,000 $0 5.65%
    5 Year 6 $1,440,000 $240,000 $0 5.30%
    1 Year 3 $455,000 $151,667 $1,024 5.65%
    20 Year 2 $470,000 $235,000 $2,053 4.38%

    For 2018, Farmers And Merchants Union Bank's most frequently cited loan duration was 30 Year, with 45 originations. The 2nd most popular length was Other, with 22 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1 $315,000 $315,000

    Farmers And Merchants Union Bank's average total fees were $1,269, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 47 $9,585,000 $203,936
    5-6% 42 $4,960,000 $118,095
    6-7% 3 $155,000 $51,667

    During 2018, Farmers And Merchants Union Bank's average interest rate for loans was 4.85%, while their most frequently originated rate bucket for loans was 4-5%, with 47 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 41 $5,815,000 $141,829 $1,207 5.05%
    $200k-400k 26 $6,760,000 $260,000 $1,122 4.78%
    $100,000 or less 24 $1,350,000 $56,250 $680 5.55%
    $600k-1MM 1 $775,000 $775,000 $0 4.95%

    2018 saw Farmers And Merchants Union Bank place emphasis on $100k-200k loans with 41 originations, totaling $5,815,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 22 $2,640,000 $120,000 $1,198 5.06%
    $100k-150k 17 $3,205,000 $188,529 $805 4.82%
    $75k-100k 17 $2,625,000 $154,412 $1,070 5.09%
    $50k or less 14 $1,760,000 $125,714 $1,063 5.11%
    $150k-250k 4 $1,000,000 $250,000 $1,309 4.53%
    $250k+ 1 $125,000 $125,000 $0 5.75%

    Farmers And Merchants Union Bank lent most frequently to those with incomes in the $50k-75k range, with 22 originations. The second most popular income band? $100k-150k, with 17 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 22 $3,160,000 $143,636 $1,138 4.98%
    20-30% 16 $2,250,000 $140,625 $1,153 4.96%
    <20% 8 $1,030,000 $128,750 $574 4.88%
    41% 4 $640,000 $160,000 $1,013 5.06%
    44% 4 $820,000 $205,000 $1,427 4.63%
    37% 4 $610,000 $152,500 $445 4.94%
    39% 3 $755,000 $251,667 $797 4.67%
    38% 3 $455,000 $151,667 $1,613 5.21%
    40% 3 $385,000 $128,333 $1,239 5.17%
    42% 2 $350,000 $175,000 $284 5.19%
    48% 2 $460,000 $230,000 $1,470 5.06%
    43% 1 $365,000 $365,000 $2,119 5.25%
    36% 1 $115,000 $115,000 $1,263 5.00%

    Farmers And Merchants Union Bank lent most frequently to those with DTI ratios of 30-36%, with 22 originations. The next most common DTI ratio? 20-30%, with 16 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 79 $12,025,000 $152,215 $1,054 5.01%
    Not applicable 13 $2,675,000 $205,769 $0 5.63%

    Approval Rates

    Total approvals of all applications
    78.69%

    Farmers And Merchants Union Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    97.83%

    Farmers And Merchants Union Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 92 $14,700,000 $159,783

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $145,000 $145,000
    Single Family (1-4 Units):Site-Built 91 $14,555,000 $159,945

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 5 $435,000 $87,000 $417 5.43%
    40-60% 9 $1,085,000 $120,556 $892 4.75%
    60-80% 22 $4,110,000 $186,818 $942 4.92%
    80-100% 36 $6,940,000 $192,778 $1,437 4.95%
    Over 100% 1 $85,000 $85,000 $660 6.00%
    Under 20% 19 $2,045,000 $107,632 $271 5.64%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Farmers and Merchants Union Bank 104 Industrial Drive Columbus, WI 53925 Full Service B&M $146,872
    Farmers and Merchants Union Bank 114 West Winnebago Street Friesland, WI 53935 Full Service B&M $28,719
    Farmers and Merchants Union Bank 159 West James Street Columbus, WI 53925 Full Service B&M $146,872
    Farmers and Merchants Union Bank 405 Jewel Street Juneau, WI 53039 Full Service B&M $9,935
    Farmers and Merchants Union Bank 575 Lowville Road Rio, WI 53960 Full Service B&M $8,792
    Farmers and Merchants Union Bank 637 South Main Street Fall River, WI 53932 Full Service B&M $8,144

    For 2018, Farmers And Merchants Union Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $18,385
    Net interest income $14,496
    Total noninterest income $903
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $79
    Trading account gains and fees $0
    Additional Noninterest Income $824
    Pre-tax net operating income $5,130
    Securities gains (or losses, -) $0
    Income before extraordinary items $4,288
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,288
    Minority interest net income $0
    Net income $4,288
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,288

    Farmers And Merchants Union Bank's gross interest income from loans was $18,385,000.
    Farmers And Merchants Union Bank's net interest income from loans was $14,496,000.
    Farmers And Merchants Union Bank's fee based income from loans was $79,000.
    Farmers And Merchants Union Bank's net income from loans was $4,288,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,889
    Provision for credit losses $3,700
    Total noninterest expense $6,569
    Salaries and employee benefits $3,765
    Premises and equipment expense $918
    Additional noninterest expense $1,886
    Applicable income taxes $842
    Net charge-offs $11
    Cash dividends $628

    Farmers And Merchants Union Bank's interest expense for loans was $3,889,000.
    Farmers And Merchants Union Bank's payroll and benefits expense were $3,765,000.
    Farmers And Merchants Union Bank's property, plant and equipment expenses $918,000.

    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 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 $352,109
    Deposits held in domestic offices $352,109
    Deposits by Individuals, partnerships, and corporations $245,626
    Deposits by U.S. Government $552
    Deposits by States and political subdivisions in the U.S. $78,428
    Deposits by Commercial banks and other depository institutions in U.S. $27,503
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $92,047
    Demand deposits $60,458
    Nontransaction accounts $260,062
    Money market deposit accounts (MMDAs) $191
    Other savings deposits (excluding MMDAs) $86,130
    Total time deposits $173,741
    Total time and savings deposits $291,651
    Noninterest-bearing deposits $60,458
    Interest-bearing deposits $291,651
    Retail deposits $323,758
    IRAs and Keogh plan accounts $18,018
    Brokered deposits $20,106
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $403,201
    Cash & Balances due from depository institutions $35,210
    Interest-bearing balances $28,494
    Total securities $18,518
    Federal funds sold & reverse repurchase $0
    Net loans and leases $333,052
    Loan and leases loss allowance $14,934
    Trading account assets $0
    Bank premises and fixed assets $6,803
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $9,618

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $403,201
    Total Liabilities $360,785
    Total deposits $352,109
    Interest-bearing deposits $291,651
    Deposits held in domestic offices $352,109
    % insured (estimated) $85
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $6,000
    Subordinated debt $0
    All other liabilities $2,676

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $333,052
    Loan and leases loss allowance $14,934
    Total loans and leases (domestic) $347,986
    All real estate loans $256,039
    Real estate loans in domestic offices $256,039
    Construction and development loans $10,873
    Residential 1-4 family construction $5,025
    Other construction, all land development and other land $5,848
    Loans secured by nonfarm nonresidential properties $110,468
    Nonfarm nonresidential secured by owner-occupied properties $39,560
    Commercial real estate & other non-farm, non-residential $70,908
    Multifamily residential real estate $10,728
    1-4 family residential loans $37,118
    Farmland loans $86,852
    Loans held in foreign offices $0
    Farm loans $59,666
    Commercial and industrial loans $28,258
    To non-U.S. addressees $0
    Loans to individuals $2,553
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $596
    Other loans to individuals $1,957
    All other loans & leases $1,470
    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 $5,687
    Non 1-4 family restructured loans & leases $5,687
    Total loans and leases (foreign) $0

    Farmers and Merchants Union Bank had $333,052,000 of loans outstanding in 2018. $256,039,000 of loans were in real estate loans. $10,873,000 of loans were in development loans. $10,728,000 of loans were in multifamily mortgage loans. $37,118,000 of loans were in 1-4 family mortgage loans. $59,666,000 of loans were in farm loans. $0 of loans were in credit card loans. $596,000 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 55 $8,741 $158,927
    Nonfarm, nonresidential loans - <$100k 24 $882 $36,750
    Nonfarm, nonresidential loans - $100-250k 18 $2,153 $119,611
    Nonfarm, nonresidential loans - $250k-1MM 13 $5,706 $438,923
    Commercial & Industrial, US addressed loans - <$1MM 138 $12,619 $91,442
    Commercial & Industrial, US addressed loans - <$100k 97 $2,614 $26,948
    Commercial & Industrial, US addressed loans - $100-250k 24 $2,690 $112,083
    Commercial & Industrial, US addressed loans - $250k-1MM 17 $7,315 $430,294
    Farmland loans - <$1MM 164 $21,875 $133,384
    Farmland loans - <$100k 34 $1,202 $35,353
    Farmland loans - $100-250k 64 $6,413 $100,203
    Farmland loans - $250k-1MM 66 $14,260 $216,061
    Agriculture operations loans - <$1MM 361 $29,717 $82,319
    Agriculture operations loans - <$100k 235 $7,536 $32,068
    Agriculture operations loans - $100-250k 80 $9,808 $122,600
    Agriculture operations loans - $250k-1MM 46 $12,373 $268,978