The Farmers & Merchants Bank Mortgage Lending & HMDA Data, 2023
In 2023, The Farmers & Merchants Bank of Stuttgart, AR reported 486 mortgage applications totaling $91.1 million, down 20% from 2022. The average application was for $187,366, and applicants reported an average income of $106,135. 70% of its applications resulted in an originated loan and 15% were denied. Its largest markets were Fayetteville-Springdale-Rogers, AR-MO (91), Little Rock-North Little Rock-Conway, AR (25) and Jonesboro, AR (24) (applications in parentheses).
| Mortgage Company & Address | The Farmers & Merchants Bank 708 S Main St Stuttgart, AR 72160 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 |
| Total Number of Mortgage Applications | 486 |
| Total Mortgage Loan Application Amount | $91,060,000 |
| Average Mortgage Loan Application Amount | $187,366 |
| Highest Mortgage Loan Application Amount | $12,005,000 |
| Average Applicant Income | $106,135 |
| Highest Applicant Income | $2,990,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records The Farmers & Merchants Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Randolph, Arkansas | 78 | $ 7,000,000 | $ 89,743 | $ 87,000 |
| Washington, Arkansas | 66 | $ 30,230,000 | $ 458,030 | $ 136,000 |
| Arkansas, Arkansas | 64 | $ 5,640,000 | $ 88,125 | $ 84,000 |
| Baxter, Arkansas | 59 | $ 10,705,000 | $ 181,440 | $ 86,000 |
| Prairie, Arkansas | 52 | $ 4,880,000 | $ 93,846 | $ 72,000 |
| Benton, Arkansas | 24 | $ 9,860,000 | $ 410,833 | $ 150,000 |
| Craighead, Arkansas | 24 | $ 3,620,000 | $ 150,833 | $ 141,000 |
| Lawrence, Arkansas | 18 | $ 1,730,000 | $ 96,111 | $ 81,000 |
| Conway, Arkansas | 14 | $ 1,810,000 | $ 129,285 | $ 86,000 |
| Perry, Arkansas | 13 | $ 1,015,000 | $ 78,076 | $ 77,000 |
| Marion, Arkansas | 9 | $ 1,115,000 | $ 123,888 | $ 119,000 |
| Pulaski, Arkansas | 8 | $ 2,700,000 | $ 337,500 | $ 590,000 |
| Greene, Arkansas | 4 | $ 690,000 | $ 172,500 | $ 107,000 |
| Lonoke, Arkansas | 4 | $ 560,000 | $ 140,000 | $ 92,000 |
| Sharp, Arkansas | 4 | $ 190,000 | $ 47,500 | $ 65,000 |
| White, Arkansas | 4 | $ 740,000 | $ 185,000 | $ 43,000 |
| Independence, Arkansas | 3 | $ 295,000 | $ 98,333 | $ 66,000 |
| Izard, Arkansas | 3 | $ 235,000 | $ 78,333 | $ 87,000 |
| Clay, Arkansas | 2 | $ 50,000 | $ 25,000 | $ 39,000 |
| Crawford, Arkansas | 2 | $ 150,000 | $ 75,000 | $ 59,000 |
| Fulton, Arkansas | 2 | $ 130,000 | $ 65,000 | $ 50,000 |
| Hot Spring, Arkansas | 2 | $ 50,000 | $ 25,000 | $ 166,000 |
| Iredell, North Carolina | 2 | $ 920,000 | $ 460,000 | $ 345,000 |
| Shelby, Tennessee | 2 | $ 770,000 | $ 385,000 | $ 0 |
| Cleburne, Arkansas | 1 | $ 75,000 | $ 75,000 | $ 39,000 |
| Desha, Arkansas | 1 | $ 65,000 | $ 65,000 | $ 40,000 |
| Garland, Arkansas | 1 | $ 1,475,000 | $ 1,475,000 | $ 0 |
| Jefferson, Arkansas | 1 | $ 175,000 | $ 175,000 | $ 293,000 |
| Johnson, Arkansas | 1 | $ 85,000 | $ 85,000 | $ 41,000 |
| Madison, Arkansas | 1 | $ 55,000 | $ 55,000 | $ 37,000 |
| Montgomery, Arkansas | 1 | $ 65,000 | $ 65,000 | $ 60,000 |
| Polk, Arkansas | 1 | $ 65,000 | $ 65,000 | $ 55,000 |
| Searcy, Arkansas | 1 | $ 145,000 | $ 145,000 | $ 75,000 |
| Stone, Arkansas | 1 | $ 225,000 | $ 225,000 | $ 118,000 |
| Van Buren, Arkansas | 1 | $ 105,000 | $ 105,000 | $ 147,000 |
| Woodruff, Arkansas | 1 | $ 155,000 | $ 155,000 | $ 114,000 |
| Sumter, Florida | 1 | $ 505,000 | $ 505,000 | $ 100,000 |
| Lafayette, Mississippi | 1 | $ 265,000 | $ 265,000 | $ 522,000 |
| Camden, Missouri | 1 | $ 645,000 | $ 645,000 | $ 0 |
| Ozark, Missouri | 1 | $ 55,000 | $ 55,000 | $ 74,000 |
| Warren, Missouri | 1 | $ 95,000 | $ 95,000 | $ 128,000 |
| Payne, Oklahoma | 1 | $ 295,000 | $ 295,000 | $ 0 |
| Rogers, Oklahoma | 1 | $ 305,000 | $ 305,000 | $ 115,000 |
| Sequoyah, Oklahoma | 1 | $ 125,000 | $ 125,000 | $ 93,000 |
| Knox, Tennessee | 1 | $ 565,000 | $ 565,000 | $ 280,000 |
| Meigs, Tennessee | 1 | $ 105,000 | $ 105,000 | $ 407,000 |
| Wilson, Tennessee | 1 | $ 325,000 | $ 325,000 | $ 103,000 |
Mortgage Loan Application Detail Totals for The Farmers & Merchants Bank in 2023
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 |
|---|---|---|---|---|---|---|
| Home Purchase | 277 | $66,245,000 | $239,000 | $12,005,000 | $117,000 | $2,990,000 |
| Refinancing | 89 | $15,375,000 | $172,000 | $655,000 | $101,000 | $605,000 |
| Other Purpose | 65 | $6,325,000 | $97,000 | $755,000 | $89,000 | $413,000 |
| Home Improvement | 54 | $2,760,000 | $51,000 | $175,000 | $80,000 | $185,000 |
| Cash-out Refinancing | 1 | $355,000 | $355,000 | $355,000 | $79,000 | $79,000 |
| 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 | 391 | $50,695,000 | $129,000 | $755,000 | $100,000 | $887,000 |
| Not applicable | 48 | $31,260,000 | $651,000 | $12,005,000 | $0 | $0 |
| Not Provided | 21 | $4,885,000 | $232,000 | $655,000 | $131,000 | $280,000 |
| Hispanic | 12 | $1,790,000 | $149,000 | $455,000 | $80,000 | $217,000 |
| Black or African American | 7 | $485,000 | $69,000 | $145,000 | $37,000 | $59,000 |
| Asian | 3 | $685,000 | $228,000 | $435,000 | $70,000 | $141,000 |
| American Indian or Alaskan Native | 2 | $180,000 | $90,000 | $115,000 | $33,000 | $37,000 |
| 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) | 486 | $91,060,000 | $187,000 | $12,005,000 | $106,000 | $2,990,000 |
| 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 | 341 | $71,605,000 | $209,000 | $12,005,000 | $113,000 | $2,990,000 |
| Application Denied By Financial Institution | 75 | $7,245,000 | $96,000 | $755,000 | $75,000 | $413,000 |
| Application Approved But Not Accepted | 40 | $5,660,000 | $141,000 | $685,000 | $106,000 | $887,000 |
| Application Withdrawn By Applicant | 30 | $6,550,000 | $218,000 | $565,000 | $120,000 | $474,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| Not applicable | 411 | $83,815,000 | $203,000 | $12,005,000 | $113,000 | $2,990,000 |
| Credit History | 34 | $2,070,000 | $60,000 | $225,000 | $62,000 | $240,000 |
| Debt-To-Income Ratio | 27 | $3,185,000 | $117,000 | $755,000 | $74,000 | $413,000 |
| Unverifiable Information | 8 | $800,000 | $100,000 | $205,000 | $96,000 | $251,000 |
| Collateral | 3 | $415,000 | $138,000 | $315,000 | $139,000 | $329,000 |
| Other | 2 | $420,000 | $210,000 | $335,000 | $128,000 | $137,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $355,000 | $355,000 | $355,000 | $79,000 | $79,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into The Farmers & Merchants Bank's 2023 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 The 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 Arkansas, download the full spreadsheet
with aggregated HMDA statistics today.
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