Farmers & Merchants Savings Bank Mortgage Lending & HMDA Data, 2013
In 2013, Farmers & Merchants Savings Bank of Manchester, IA reported 328 mortgage applications totaling $54.0 million, down 29% from 2012. The average application was for $164,527, and applicants reported an average income of $112,466. 88% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Cedar Rapids, IA (168), Iowa City, IA (15) and Minneapolis-St. Paul-Bloomington, MN-WI (15) (applications in parentheses).
| Mortgage Company & Address | Farmers & Merchants Savings Bank Po Box 588 101 E Main St Manchester, IA 52057 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 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 328 |
| Total Mortgage Loan Application Amount | $53,965,000 |
| Average Mortgage Loan Application Amount | $164,527 |
| Highest Mortgage Loan Application Amount | $1,008,000 |
| Average Applicant Income | $112,466 |
| Highest Applicant Income | $1,235,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Farmers & Merchants Savings Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Linn, Iowa | 130 | $ 20,706,000 | $ 159,276 | $ 129,000 |
| Delaware, Iowa | 82 | $ 13,713,000 | $ 167,231 | $ 101,000 |
| Jones, Iowa | 35 | $ 4,071,000 | $ 116,314 | $ 79,000 |
| Johnson, Iowa | 15 | $ 3,522,000 | $ 234,800 | $ 133,000 |
| Buchanan, Iowa | 8 | $ 1,408,000 | $ 176,000 | $ 50,000 |
| Ramsey, Minnesota | 7 | $ 1,289,000 | $ 184,142 | $ 108,000 |
| Clayton, Iowa | 6 | $ 823,000 | $ 137,166 | $ 29,000 |
| Anoka, Minnesota | 6 | $ 729,000 | $ 121,500 | $ 72,000 |
| Dubuque, Iowa | 4 | $ 1,307,000 | $ 326,750 | $ 204,000 |
| Benton, Iowa | 3 | $ 404,000 | $ 134,666 | $ 108,000 |
| Douglas, Nebraska | 3 | $ 431,000 | $ 143,666 | $ 102,000 |
| Lee, Florida | 2 | $ 1,033,000 | $ 516,500 | $ 35,000 |
| Black Hawk, Iowa | 2 | $ 182,000 | $ 91,000 | $ 29,000 |
| Cedar, Iowa | 2 | $ 504,000 | $ 252,000 | $ 177,000 |
| Williams, North Dakota | 2 | $ 400,000 | $ 200,000 | $ 0 |
| Manatee, Florida | 1 | $ 124,000 | $ 124,000 | $ 213,000 |
| Honolulu, Hawaii | 1 | $ 186,000 | $ 186,000 | $ 77,000 |
| Bremer, Iowa | 1 | $ 100,000 | $ 100,000 | $ 113,000 |
| Clinton, Iowa | 1 | $ 101,000 | $ 101,000 | $ 158,000 |
| Dickinson, Iowa | 1 | $ 80,000 | $ 80,000 | $ 145,000 |
| Jackson, Iowa | 1 | $ 151,000 | $ 151,000 | $ 25,000 |
| Marshall, Iowa | 1 | $ 165,000 | $ 165,000 | $ 108,000 |
| Poweshiek, Iowa | 1 | $ 108,000 | $ 108,000 | $ 97,000 |
| Scott, Iowa | 1 | $ 156,000 | $ 156,000 | $ 117,000 |
| Wapello, Iowa | 1 | $ 88,000 | $ 88,000 | $ 40,000 |
| Woodbury, Iowa | 1 | $ 82,000 | $ 82,000 | $ 76,000 |
| Cass, Minnesota | 1 | $ 248,000 | $ 248,000 | $ 124,000 |
| Fillmore, Minnesota | 1 | $ 70,000 | $ 70,000 | $ 65,000 |
| Hennepin, Minnesota | 1 | $ 245,000 | $ 245,000 | $ 279,000 |
| Pine, Minnesota | 1 | $ 216,000 | $ 216,000 | $ 135,000 |
| Washington, Minnesota | 1 | $ 244,000 | $ 244,000 | $ 104,000 |
| Camden, Missouri | 1 | $ 325,000 | $ 325,000 | $ 1,235,000 |
| Travis, Texas | 1 | $ 416,000 | $ 416,000 | $ 226,000 |
| Dane, Wisconsin | 1 | $ 120,000 | $ 120,000 | $ 34,000 |
Mortgage Loan Application Detail Totals for Farmers & Merchants Savings Bank in 2013
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 | 218 | $36,484,000 | $167,000 | $1,008,000 | $111,000 | $1,034,000 |
| Home Purchase | 107 | $17,376,000 | $162,000 | $720,000 | $116,000 | $1,235,000 |
| Home Improvement | 3 | $105,000 | $35,000 | $50,000 | $93,000 | $162,000 |
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 | 296 | $48,508,000 | $163,000 | $1,008,000 | $124,000 | $1,235,000 |
| Not applicable | 27 | $4,930,000 | $182,000 | $740,000 | $0 | $0 |
| Asian | 4 | $439,000 | $109,000 | $189,000 | $83,000 | $200,000 |
| Not Provided | 1 | $88,000 | $88,000 | $88,000 | $58,000 | $58,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| Hispanic | 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) | 325 | $53,695,000 | $165,000 | $1,008,000 | $113,000 | $1,235,000 |
| FHA-insured (Federal Housing Administration) | 1 | $35,000 | $35,000 | $35,000 | $60,000 | $60,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 1 | $75,000 | $75,000 | $75,000 | $40,000 | $40,000 |
| VA-guaranteed (Veterans Administration) | 1 | $160,000 | $160,000 | $160,000 | $57,000 | $57,000 |
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 | 289 | $47,519,000 | $164,000 | $1,008,000 | $115,000 | $1,235,000 |
| Application Withdrawn By Applicant | 20 | $4,659,000 | $232,000 | $792,000 | $138,000 | $335,000 |
| Application Denied By Financial Institution | 13 | $1,177,000 | $90,000 | $160,000 | $51,000 | $160,000 |
| File Closed For Incompleteness | 3 | $264,000 | $88,000 | $168,000 | $42,000 | $80,000 |
| Preapproval Denied by Financial Institution | 2 | $218,000 | $109,000 | $124,000 | $38,000 | $39,000 |
| Application Approved But Not Accepted | 1 | $128,000 | $128,000 | $128,000 | $108,000 | $108,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 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 |
|---|---|---|---|---|---|---|
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Farmers & Merchants Savings Bank's 2013 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 Savings 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.
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