1st Farmers & Merchants Bank Mortgage Lending & HMDA Data, 2004
In 2004, 1st Farmers & Merchants Bank of Columbia, TN reported 1,052 mortgage applications totaling $83.2 million, up 15% from 2003. The average application was for $79,081, and applicants reported an average income of $50,995. 74% of its applications resulted in an originated loan and 13% were denied. Its largest markets were Nashville-Davidson--Murfreesboro, TN (207), Florence-Muscle Shoals, AL (16) and Memphis, TN-MS-AR (4) (applications in parentheses).
| Mortgage Company & Address | 1st Farmers & Merchants Bank P.O. Box 1148 Columbia, TN 38401 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2004 2003 |
| Total Number of Mortgage Applications | 1,052 |
| Total Mortgage Loan Application Amount | $83,194,000 |
| Average Mortgage Loan Application Amount | $79,081 |
| Highest Mortgage Loan Application Amount | $540,000 |
| Average Applicant Income | $50,995 |
| Highest Applicant Income | $816,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records 1st Farmers & Merchants Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Nashville-Davidson--Murfreesboro, TN | 207 | $ 19,198,000 | $ 92,743 | $ 46,000 |
| Florence-Muscle Shoals, AL | 16 | $ 1,464,000 | $ 91,500 | $ 64,000 |
| Memphis, TN-MS-AR | 4 | $ 522,000 | $ 130,500 | $ 73,000 |
| Chattanooga, TN-GA | 1 | $ 163,000 | $ 163,000 | $ 51,000 |
| Huntsville, AL | 1 | $ 30,000 | $ 30,000 | $ 24,000 |
| Jackson, TN | 1 | $ 27,000 | $ 27,000 | $ 19,000 |
Mortgage Loan Application Detail Totals for 1st Farmers & Merchants Bank in 2004
Loan Purpose |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Refinancing | 550 | $46,255,000 | $87,000 | $495,000 | $60,500 | $816,000 |
| Home Purchase | 292 | $30,222,000 | $189,333 | $540,000 | $54,333 | $719,000 |
| Home Improvement | 210 | $6,717,000 | $78,000 | $270,000 | $40,000 | $324,000 |
Applicant Race |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| White | 942 | $72,229,000 | $183,333 | $540,000 | $55,333 | $816,000 |
| Not applicable | 60 | $8,934,000 | $148,000 | $398,000 | $3,000 | $50,000 |
| Black or African American | 31 | $667,000 | $21,000 | $151,000 | $38,000 | $110,000 |
| Not Provided | 11 | $782,000 | $71,000 | $300,000 | $92,000 | $350,000 |
| Hispanic | 4 | $307,000 | $76,000 | $212,000 | $38,000 | $42,000 |
| Asian | 2 | $211,000 | $105,000 | $191,000 | $154,000 | $300,000 |
| American Indian or Alaskan Native | 1 | $3,000 | $3,000 | $3,000 | $16,000 | $16,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $61,000 | $61,000 | $61,000 | $94,000 | $94,000 |
Loan Type |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 1,052 | $83,194,000 | $183,333 | $540,000 | $55,666 | $816,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
Outcome |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Loan Originated | 782 | $61,630,000 | $86,500 | $495,000 | $70,000 | $816,000 |
| Application Denied By Financial Institution | 142 | $7,758,000 | $160,000 | $540,000 | $40,000 | $120,000 |
| Loan Purchased By The Institution | 58 | $8,721,000 | $150,000 | $398,000 | $0 | $0 |
| Application Withdrawn By Applicant | 40 | $3,040,000 | $76,000 | $280,000 | $46,000 | $395,000 |
| Application Approved But Not Accepted | 30 | $2,045,000 | $68,000 | $191,000 | $76,000 | $642,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
Denial Reason |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Credit History | 94 | $4,207,000 | $37,000 | $385,000 | $30,000 | $120,000 |
| Debt-To-Income Ratio | 29 | $2,403,000 | $171,666 | $540,000 | $40,333 | $70,000 |
| Collateral | 15 | $942,000 | $62,000 | $205,000 | $38,000 | $90,000 |
| Unverifiable Information | 2 | $86,000 | $43,000 | $52,000 | $20,000 | $22,000 |
| Other | 1 | $80,000 | $80,000 | $80,000 | $14,000 | $14,000 |
| Employment History | 1 | $40,000 | $40,000 | $40,000 | $14,000 | $14,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into 1st Farmers & Merchants Bank's 2004 lending activity. By analyzing detailed data on mortgage applications, total loan amounts, applicant incomes, loan purposes, and approval rates, industry professionals, researchers, and analysts can gain a clear understanding of this lender's role in the mortgage market.
This in-depth HMDA data allows real estate experts, financial analysts, and policymakers to track lending trends, evaluate borrower demographics,
and assess 1st Farmers & Merchants Bank's mortgage approval patterns.
Utilize this powerful dataset to analyze market performance, compare lending practices, and make data-driven decisions in the ever-changing mortgage industry.
For a list of all lenders in Tennessee, download the full spreadsheet
with aggregated HMDA statistics today.
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