Farmers & Merchants Savings Bank Mortgage Lending & HMDA Data, 2015
In 2015, Farmers & Merchants Savings Bank of Manchester, IA reported 360 mortgage applications totaling $60.1 million, up 42% from 2014. The average application was for $166,852, and applicants reported an average income of $157,705. 92% of its applications resulted in an originated loan and 2% were denied. Its largest markets were Cedar Rapids, IA (142), Minneapolis-St. Paul-Bloomington, MN-WI (34) and Des Moines-West Des Moines, IA (5) (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 | 360 |
| Total Mortgage Loan Application Amount | $60,067,000 |
| Average Mortgage Loan Application Amount | $166,852 |
| Highest Mortgage Loan Application Amount | $1,450,000 |
| Average Applicant Income | $157,705 |
| Highest Applicant Income | $2,487,000 |
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Farmers & Merchants Savings Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 142 | $ 20,588,000 | $ 144,985 | $ 102,000 |
| Minneapolis-St. Paul-Bloomington, MN-WI | 34 | $ 6,196,000 | $ 182,235 | $ 93,000 |
| Des Moines-West Des Moines, IA | 5 | $ 696,000 | $ 139,200 | $ 157,000 |
| Davenport-Moline-Rock Island, IA-IL | 4 | $ 206,000 | $ 51,500 | $ 139,000 |
| Dubuque, IA | 4 | $ 408,000 | $ 102,000 | $ 78,000 |
| Phoenix-Mesa-Scottsdale, AZ | 3 | $ 676,000 | $ 225,333 | $ 260,000 |
| Chicago-Naperville-Arlington Heights, IL | 2 | $ 963,000 | $ 481,500 | $ 73,000 |
| Dallas-Plano-Irving, TX | 2 | $ 614,000 | $ 307,000 | $ 290,000 |
| Iowa City, IA | 2 | $ 305,000 | $ 152,500 | $ 26,000 |
| Waterloo-Cedar Falls, IA | 2 | $ 288,000 | $ 144,000 | $ 83,000 |
| Denver-Aurora-Lakewood, CO | 1 | $ 250,000 | $ 250,000 | $ 1,143,000 |
| Duluth, MN-WI | 1 | $ 198,000 | $ 198,000 | $ 96,000 |
| Eau Claire, WI | 1 | $ 292,000 | $ 292,000 | $ 139,000 |
| Indianapolis-Carmel-Anderson, IN | 1 | $ 143,000 | $ 143,000 | $ 104,000 |
| Kansas City, MO-KS | 1 | $ 280,000 | $ 280,000 | $ 120,000 |
| La Crosse-Onalaska, WI-MN | 1 | $ 106,000 | $ 106,000 | $ 157,000 |
| Las Vegas-Henderson-Paradise, NV | 1 | $ 387,000 | $ 387,000 | $ 244,000 |
| Michigan City-La Porte, IN | 1 | $ 120,000 | $ 120,000 | $ 23,000 |
| Naples-Immokalee-Marco Island, FL | 1 | $ 725,000 | $ 725,000 | $ 181,000 |
| Omaha-Council Bluffs, NE-IA | 1 | $ 155,000 | $ 155,000 | $ 74,000 |
| Orlando-Kissimmee-Sanford, FL | 1 | $ 206,000 | $ 206,000 | $ 239,000 |
| Riverside-San Bernardino-Ontario, CA | 1 | $ 250,000 | $ 250,000 | $ 211,000 |
| Tampa-St. Petersburg-Clearwater, FL | 1 | $ 270,000 | $ 270,000 | $ 255,000 |
| Tucson, AZ | 1 | $ 65,000 | $ 65,000 | $ 99,000 |
Mortgage Loan Application Detail Totals for Farmers & Merchants Savings Bank in 2015
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 | 212 | $39,033,000 | $184,000 | $1,450,000 | $199,000 | $2,487,000 |
| Home Purchase | 138 | $20,557,000 | $148,000 | $750,000 | $102,000 | $1,143,000 |
| Home Improvement | 10 | $477,000 | $47,000 | $224,000 | $51,000 | $182,000 |
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 | 298 | $51,252,000 | $171,000 | $1,450,000 | $186,000 | $2,487,000 |
| Not applicable | 56 | $7,869,000 | $140,000 | $1,000,000 | $10,000 | $450,000 |
| Black or African American | 3 | $288,000 | $96,000 | $144,000 | $104,000 | $120,000 |
| Hispanic | 1 | $32,000 | $32,000 | $32,000 | $14,000 | $14,000 |
| American Indian or Alaskan Native | 1 | $420,000 | $420,000 | $420,000 | $249,000 | $249,000 |
| Asian | 1 | $206,000 | $206,000 | $206,000 | $239,000 | $239,000 |
| Native Hawaiian or Other Pacific Islander | 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) | 359 | $59,807,000 | $166,000 | $1,450,000 | $158,000 | $2,487,000 |
| FHA-insured (Federal Housing Administration) | 1 | $260,000 | $260,000 | $260,000 | $107,000 | $107,000 |
| 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 | 331 | $55,772,000 | $168,000 | $1,450,000 | $163,000 | $2,487,000 |
| Application Withdrawn By Applicant | 21 | $3,468,000 | $165,000 | $370,000 | $117,000 | $436,000 |
| Application Denied By Financial Institution | 7 | $714,000 | $102,000 | $220,000 | $57,000 | $110,000 |
| File Closed For Incompleteness | 1 | $113,000 | $113,000 | $113,000 | $70,000 | $70,000 |
| Application Approved But Not Accepted | 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 |
|---|---|---|---|---|---|---|
| Other | 1 | $40,000 | $40,000 | $40,000 | $42,000 | $42,000 |
| 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 |
| 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Farmers & Merchants Savings Bank's 2015 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.
For a list of all lenders in Iowa, download the full spreadsheet
with aggregated HMDA statistics today.
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