Farmers & Merchants Savings Bank Mortgage Lending & HMDA Data, 2021
In 2021, Farmers & Merchants Savings Bank of Manchester, IA reported 386 mortgage applications totaling $81.5 million, down 24% from 2020. The average application was for $211,088, and applicants reported an average income of $135,839. 96% of its applications resulted in an originated loan and 2% were denied. Its largest markets were Cedar Rapids, IA (128), Minneapolis-St. Paul-Bloomington, MN-WI (106) and Dubuque, IA (9) (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 | 386 |
| Total Mortgage Loan Application Amount | $81,480,000 |
| Average Mortgage Loan Application Amount | $211,088 |
| Highest Mortgage Loan Application Amount | $1,255,000 |
| Average Applicant Income | $135,839 |
| Highest Applicant Income | $778,000 |
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Farmers & Merchants Savings Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 128 | $ 25,470,000 | $ 198,984 | $ 150,000 |
| Outside any metro area | 107 | $ 17,965,000 | $ 167,897 | $ 101,084 |
| Minneapolis-St. Paul-Bloomington, MN-WI | 106 | $ 24,530,000 | $ 231,415 | $ 142,339 |
| Dubuque, IA | 9 | $ 2,085,000 | $ 231,666 | $ 114,000 |
| Iowa City, IA | 9 | $ 1,795,000 | $ 199,444 | $ 138,000 |
| Waterloo-Cedar Falls, IA | 4 | $ 950,000 | $ 237,500 | $ 76,000 |
| Cape Coral-Fort Myers, FL | 3 | $ 505,000 | $ 168,333 | $ 182,000 |
| Chicago-Naperville, IL | 3 | $ 1,075,000 | $ 358,333 | $ 520,000 |
| Duluth, MN-WI | 2 | $ 260,000 | $ 130,000 | $ 185,000 |
| Killeen-Temple, TX | 2 | $ 2,210,000 | $ 1,105,000 | $ 0 |
| Palm Bay-Melbourne-Titusville, FL | 2 | $ 1,910,000 | $ 955,000 | $ 0 |
| Davenport-Moline-Rock Island, IA-IL | 1 | $ 195,000 | $ 195,000 | $ 78,000 |
| Des Moines-West Des Moines, IA | 1 | $ 165,000 | $ 165,000 | $ 113,000 |
| Eugene, OR | 1 | $ 425,000 | $ 425,000 | $ 147,000 |
| Indianapolis-Carmel-Anderson, IN | 1 | $ 105,000 | $ 105,000 | $ 75,000 |
| Kansas City, MO-KS | 1 | $ 295,000 | $ 295,000 | $ 126,000 |
| Lafayette, LA | 1 | $ 165,000 | $ 165,000 | $ 306,000 |
| Mankato-North Mankato, MN | 1 | $ 215,000 | $ 215,000 | $ 265,000 |
| Milwaukee-Waukesha-West Allis, WI | 1 | $ 85,000 | $ 85,000 | $ 67,000 |
| Rochester, MN | 1 | $ 545,000 | $ 545,000 | $ 203,000 |
| St. Cloud, MN | 1 | $ 375,000 | $ 375,000 | $ 0 |
| Urban Honolulu, HI | 1 | $ 155,000 | $ 155,000 | $ 72,000 |
Mortgage Loan Application Detail Totals for Farmers & Merchants Savings Bank in 2021
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 | 196 | $42,230,000 | $215,000 | $1,255,000 | $141,000 | $769,000 |
| Home Purchase | 111 | $24,355,000 | $219,000 | $1,245,000 | $123,000 | $778,000 |
| Cash-out Refinancing | 72 | $13,750,000 | $190,000 | $525,000 | $145,000 | $750,000 |
| Home Improvement | 5 | $1,015,000 | $203,000 | $805,000 | $105,000 | $190,000 |
| Other Purpose | 2 | $130,000 | $65,000 | $125,000 | $90,000 | $105,000 |
| 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 | 341 | $68,295,000 | $200,000 | $1,245,000 | $132,000 | $778,000 |
| Not Provided | 21 | $5,895,000 | $280,000 | $1,105,000 | $193,000 | $747,000 |
| Not applicable | 17 | $5,505,000 | $323,000 | $1,255,000 | $0 | $0 |
| Hispanic | 2 | $240,000 | $120,000 | $135,000 | $78,000 | $87,000 |
| American Indian or Alaskan Native | 1 | $295,000 | $295,000 | $295,000 | $460,000 | $460,000 |
| Asian | 1 | $325,000 | $325,000 | $325,000 | $94,000 | $94,000 |
| Black or African American | 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) | 386 | $81,480,000 | $211,000 | $1,255,000 | $136,000 | $778,000 |
| 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 | 369 | $78,565,000 | $212,000 | $1,255,000 | $137,000 | $778,000 |
| Application Denied By Financial Institution | 9 | $1,625,000 | $180,000 | $365,000 | $150,000 | $482,000 |
| Application Withdrawn By Applicant | 4 | $660,000 | $165,000 | $405,000 | $95,000 | $165,000 |
| Application Approved But Not Accepted | 4 | $630,000 | $157,000 | $185,000 | $111,000 | $132,000 |
| 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 | 377 | $79,855,000 | $211,000 | $1,255,000 | $136,000 | $778,000 |
| Debt-To-Income Ratio | 4 | $830,000 | $207,000 | $255,000 | $75,000 | $137,000 |
| Credit History | 3 | $365,000 | $121,000 | $205,000 | $117,000 | $268,000 |
| Collateral | 2 | $430,000 | $215,000 | $365,000 | $350,000 | $482,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 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 2021 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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