Farmers & Merchants Savings Bank Mortgage Lending & HMDA Data, 2009
In 2009, Farmers & Merchants Savings Bank of Manchester, IA reported 344 mortgage applications totaling $47.0 million, up 17% from 2008. The average application was for $136,613, and applicants reported an average income of $93,029. 84% of its applications resulted in an originated loan and 5% were denied. Its largest markets were Cedar Rapids, IA (141), Omaha-Council Bluffs, NE-IA (10) and Iowa City, IA (6) (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 | 344 |
| Total Mortgage Loan Application Amount | $46,995,000 |
| Average Mortgage Loan Application Amount | $136,613 |
| Highest Mortgage Loan Application Amount | $750,000 |
| Average Applicant Income | $93,029 |
| Highest Applicant Income | $2,169,000 |
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Farmers & Merchants Savings Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Cedar Rapids, IA | 141 | $ 21,940,000 | $ 155,602 | $ 111,000 |
| Omaha-Council Bluffs, NE-IA | 10 | $ 1,798,000 | $ 179,800 | $ 118,000 |
| Iowa City, IA | 6 | $ 1,808,000 | $ 301,333 | $ 423,000 |
| Waterloo-Cedar Falls, IA | 3 | $ 320,000 | $ 106,666 | $ 26,000 |
| Lake Havasu City-Kingman, AZ | 2 | $ 270,000 | $ 135,000 | $ 340,000 |
| Phoenix-Mesa-Scottsdale, AZ | 2 | $ 485,000 | $ 242,500 | $ 247,000 |
| Ames, IA | 1 | $ 92,000 | $ 92,000 | $ 40,000 |
| Austin-Round Rock, TX | 1 | $ 266,000 | $ 266,000 | $ 140,000 |
| Boulder, CO | 1 | $ 102,000 | $ 102,000 | $ 0 |
| Cape Coral-Fort Myers, FL | 1 | $ 225,000 | $ 225,000 | $ 0 |
| Dallas-Plano-Irving, TX | 1 | $ 287,000 | $ 287,000 | $ 159,000 |
| Davenport-Moline-Rock Island, IA-IL | 1 | $ 13,000 | $ 13,000 | $ 127,000 |
| Des Moines-West Des Moines, IA | 1 | $ 158,000 | $ 158,000 | $ 62,000 |
| Dubuque, IA | 1 | $ 110,000 | $ 110,000 | $ 45,000 |
| St. Louis, MO-IL | 1 | $ 153,000 | $ 153,000 | $ 64,000 |
Mortgage Loan Application Detail Totals for Farmers & Merchants Savings Bank in 2009
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 | 233 | $36,112,000 | $154,000 | $750,000 | $104,000 | $2,169,000 |
| Home Purchase | 98 | $10,600,000 | $108,000 | $417,000 | $70,000 | $504,000 |
| Home Improvement | 13 | $283,000 | $21,000 | $80,000 | $70,000 | $138,000 |
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 | 336 | $46,023,000 | $136,000 | $750,000 | $94,000 | $2,169,000 |
| Not applicable | 6 | $670,000 | $111,000 | $153,000 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 1 | $245,000 | $245,000 | $245,000 | $297,000 | $297,000 |
| American Indian or Alaskan Native | 1 | $57,000 | $57,000 | $57,000 | $63,000 | $63,000 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| Hispanic | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 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) | 309 | $43,687,000 | $141,000 | $750,000 | $99,000 | $2,169,000 |
| FHA-insured (Federal Housing Administration) | 26 | $2,518,000 | $96,000 | $182,000 | $44,000 | $129,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 6 | $514,000 | $85,000 | $158,000 | $37,000 | $52,000 |
| VA-guaranteed (Veterans Administration) | 3 | $276,000 | $92,000 | $109,000 | $49,000 | $53,000 |
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 | $38,617,000 | $133,000 | $750,000 | $93,000 | $2,169,000 |
| Application Withdrawn By Applicant | 24 | $4,370,000 | $182,000 | $417,000 | $119,000 | $720,000 |
| Application Denied By Financial Institution | 17 | $2,621,000 | $154,000 | $339,000 | $66,000 | $145,000 |
| Preapproval Denied by Financial Institution | 9 | $741,000 | $82,000 | $298,000 | $37,000 | $63,000 |
| Preapproval Approved but not Accepted | 2 | $171,000 | $85,000 | $98,000 | $37,000 | $41,000 |
| Application Approved But Not Accepted | 2 | $315,000 | $157,000 | $190,000 | $370,000 | $601,000 |
| File Closed For Incompleteness | 1 | $160,000 | $160,000 | $160,000 | $32,000 | $32,000 |
| Loan Purchased By The 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 2009 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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