Farmers & Merchants Savings Bank Mortgage Lending & HMDA Data, 2017
In 2017, Farmers & Merchants Savings Bank of Manchester, IA reported 318 mortgage applications totaling $56.2 million, down 26% from 2016. The average application was for $176,827, and applicants reported an average income of $92,591. 95% of its applications resulted in an originated loan and 1% were denied. Its largest markets were Cedar Rapids, IA (102), Minneapolis-St. Paul-Bloomington, MN-WI (29) and Iowa City, IA (7) (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 | 318 |
| Total Mortgage Loan Application Amount | $56,231,000 |
| Average Mortgage Loan Application Amount | $176,827 |
| Highest Mortgage Loan Application Amount | $2,500,000 |
| Average Applicant Income | $92,591 |
| Highest Applicant Income | $1,085,000 |
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Farmers & Merchants Savings Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 63 | $ 10,957,000 | $ 173,920 | $ 136,000 |
| Delaware, Iowa | 61 | $ 13,242,000 | $ 217,081 | $ 85,000 |
| Wright, Iowa | 60 | $ 4,165,000 | $ 69,416 | $ 51,000 |
| Jones, Iowa | 39 | $ 4,549,000 | $ 116,641 | $ 60,000 |
| Anoka, Minnesota | 14 | $ 2,710,000 | $ 193,571 | $ 79,000 |
| Ramsey, Minnesota | 10 | $ 1,796,000 | $ 179,600 | $ 97,000 |
| Webster, Iowa | 9 | $ 3,749,000 | $ 416,555 | $ 15,000 |
| Clayton, Iowa | 7 | $ 1,056,000 | $ 150,857 | $ 86,000 |
| Johnson, Iowa | 7 | $ 1,888,000 | $ 269,714 | $ 65,000 |
| Buchanan, Iowa | 5 | $ 2,243,000 | $ 448,600 | $ 146,000 |
| Lee, Florida | 4 | $ 1,062,000 | $ 265,500 | $ 207,000 |
| Kossuth, Iowa | 3 | $ 140,000 | $ 46,666 | $ 47,000 |
| Pocahontas, Iowa | 3 | $ 163,000 | $ 54,333 | $ 0 |
| Black Hawk, Iowa | 2 | $ 276,000 | $ 138,000 | $ 288,000 |
| Fayette, Iowa | 2 | $ 361,000 | $ 180,500 | $ 33,000 |
| Jackson, Iowa | 2 | $ 280,000 | $ 140,000 | $ 96,000 |
| Palo Alto, Iowa | 2 | $ 1,500,000 | $ 750,000 | $ 36,000 |
| Polk, Iowa | 2 | $ 156,000 | $ 78,000 | $ 0 |
| Chisago, Minnesota | 2 | $ 286,000 | $ 143,000 | $ 89,000 |
| Pine, Minnesota | 2 | $ 142,000 | $ 71,000 | $ 165,000 |
| Washington, Minnesota | 2 | $ 773,000 | $ 386,500 | $ 150,000 |
| Maricopa, Arizona | 1 | $ 350,000 | $ 350,000 | $ 183,000 |
| Jefferson, Colorado | 1 | $ 400,000 | $ 400,000 | $ 420,000 |
| Collier, Florida | 1 | $ 696,000 | $ 696,000 | $ 307,000 |
| Calhoun, Iowa | 1 | $ 19,000 | $ 19,000 | $ 160,000 |
| Cedar, Iowa | 1 | $ 255,000 | $ 255,000 | $ 364,000 |
| Chickasaw, Iowa | 1 | $ 152,000 | $ 152,000 | $ 84,000 |
| Dickinson, Iowa | 1 | $ 50,000 | $ 50,000 | $ 0 |
| Dubuque, Iowa | 1 | $ 204,000 | $ 204,000 | $ 125,000 |
| Hamilton, Iowa | 1 | $ 850,000 | $ 850,000 | $ 729,000 |
| Hancock, Iowa | 1 | $ 18,000 | $ 18,000 | $ 30,000 |
| Humboldt, Iowa | 1 | $ 51,000 | $ 51,000 | $ 0 |
| Iowa, Iowa | 1 | $ 449,000 | $ 449,000 | $ 74,000 |
| Scott, Iowa | 1 | $ 130,000 | $ 130,000 | $ 380,000 |
| Story, Iowa | 1 | $ 124,000 | $ 124,000 | $ 90,000 |
| Hennepin, Minnesota | 1 | $ 89,000 | $ 89,000 | $ 64,000 |
| Pope, Minnesota | 1 | $ 270,000 | $ 270,000 | $ 546,000 |
| Divide, North Dakota | 1 | $ 630,000 | $ 630,000 | $ 0 |
Mortgage Loan Application Detail Totals for Farmers & Merchants Savings Bank in 2017
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 | 180 | $37,810,000 | $210,000 | $2,500,000 | $96,000 | $1,085,000 |
| Home Purchase | 124 | $17,828,000 | $143,000 | $630,000 | $92,000 | $830,000 |
| Home Improvement | 14 | $593,000 | $42,000 | $204,000 | $54,000 | $211,000 |
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 | 236 | $43,433,000 | $184,000 | $1,400,000 | $123,000 | $1,085,000 |
| Not applicable | 79 | $12,276,000 | $155,000 | $2,500,000 | $0 | $70,000 |
| Asian | 2 | $160,000 | $80,000 | $148,000 | $86,000 | $91,000 |
| American Indian or Alaskan Native | 1 | $362,000 | $362,000 | $362,000 | $155,000 | $155,000 |
| Not Provided | 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) | 318 | $56,231,000 | $176,000 | $2,500,000 | $92,000 | $1,085,000 |
| 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 | 303 | $53,536,000 | $176,000 | $2,500,000 | $92,000 | $1,085,000 |
| Application Withdrawn By Applicant | 11 | $1,927,000 | $175,000 | $368,000 | $114,000 | $247,000 |
| Application Denied By Financial Institution | 4 | $768,000 | $192,000 | $261,000 | $93,000 | $147,000 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| 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 2017 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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with aggregated HMDA statistics today.
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