Farmers & Merchants Bank Mortgage Lending & HMDA Data, 2020
In 2020, Farmers & Merchants Bank of Granite Quarry, NC reported 337 mortgage applications totaling $68.4 million, up 64% from 2019. The average application was for $202,952, and applicants reported an average income of $115,928. 83% of its applications resulted in an originated loan and 8% were denied. Its largest markets were Charlotte-Concord-Gastonia, NC-SC (295), Raleigh, NC (11) and Durham-Chapel Hill, NC (5) (applications in parentheses).
| Mortgage Company & Address | Farmers & Merchants Bank 138 N Salisbury Gq Ave Granite Quarry, NC 28072 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 |
| Total Number of Mortgage Applications | 337 |
| Total Mortgage Loan Application Amount | $68,395,000 |
| Average Mortgage Loan Application Amount | $202,952 |
| Highest Mortgage Loan Application Amount | $2,005,000 |
| Average Applicant Income | $115,928 |
| Highest Applicant Income | $843,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Farmers & Merchants Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Charlotte-Concord-Gastonia, NC-SC | 295 | $ 55,685,000 | $ 188,762 | $ 104,000 |
| Outside any metro area | 12 | $ 2,730,000 | $ 227,500 | $ 193,000 |
| Raleigh, NC | 11 | $ 4,625,000 | $ 420,454 | $ 177,000 |
| Durham-Chapel Hill, NC | 5 | $ 1,515,000 | $ 303,000 | $ 201,000 |
| Winston-Salem, NC | 4 | $ 900,000 | $ 225,000 | $ 138,000 |
| Asheville, NC | 2 | $ 440,000 | $ 220,000 | $ 495,000 |
| Hickory-Lenoir-Morganton, NC | 2 | $ 820,000 | $ 410,000 | $ 339,000 |
| New Bern, NC | 2 | $ 600,000 | $ 300,000 | $ 333,000 |
| Wilmington, NC | 2 | $ 700,000 | $ 350,000 | $ 304,000 |
| Champaign-Urbana, IL | 1 | $ 275,000 | $ 275,000 | $ 297,000 |
| Myrtle Beach-Conway-North Myrtle Beach, SC-NC | 1 | $ 105,000 | $ 105,000 | $ 82,000 |
Mortgage Loan Application Detail Totals for Farmers & Merchants Bank in 2020
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 | 152 | $32,820,000 | $215,000 | $2,005,000 | $121,000 | $843,000 |
| Cash-out Refinancing | 91 | $16,565,000 | $182,000 | $515,000 | $110,000 | $591,000 |
| Home Purchase | 86 | $18,050,000 | $209,000 | $755,000 | $118,000 | $468,000 |
| Other Purpose | 7 | $925,000 | $132,000 | $265,000 | $57,000 | $145,000 |
| Home Improvement | 1 | $35,000 | $35,000 | $35,000 | $119,000 | $119,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
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 | 290 | $55,710,000 | $192,000 | $1,225,000 | $117,000 | $843,000 |
| Not applicable | 30 | $10,090,000 | $336,000 | $2,005,000 | $0 | $0 |
| Black or African American | 9 | $1,405,000 | $156,000 | $395,000 | $68,000 | $150,000 |
| Hispanic | 3 | $275,000 | $91,000 | $125,000 | $94,000 | $120,000 |
| Asian | 3 | $725,000 | $241,000 | $415,000 | $172,000 | $359,000 |
| Not Provided | 2 | $190,000 | $95,000 | $125,000 | $75,000 | $110,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
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) | 337 | $68,395,000 | $202,000 | $2,005,000 | $116,000 | $843,000 |
| 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 | 279 | $59,105,000 | $211,000 | $2,005,000 | $118,000 | $843,000 |
| Application Denied By Financial Institution | 28 | $3,410,000 | $121,000 | $305,000 | $69,000 | $253,000 |
| Application Withdrawn By Applicant | 22 | $4,600,000 | $209,000 | $405,000 | $155,000 | $591,000 |
| File Closed For Incompleteness | 4 | $770,000 | $192,000 | $305,000 | $106,000 | $159,000 |
| Application Approved But Not Accepted | 4 | $510,000 | $127,000 | $255,000 | $114,000 | $317,000 |
| Loan Purchased By The Institution | 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 337 | $68,395,000 | $202,000 | $2,005,000 | $116,000 | $843,000 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Farmers & Merchants Bank's 2020 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 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 North Carolina, download the full spreadsheet
with aggregated HMDA statistics today.
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