Farmers & Merchants Savings Bank Mortgage Lending & HMDA Data, 2022
In 2022, Farmers & Merchants Savings Bank of Manchester, IA reported 194 mortgage applications totaling $47.9 million, down 50% from 2021. The average application was for $246,752, and applicants reported an average income of $144,979. 91% of its applications resulted in an originated loan and 3% were denied. Its largest markets were Cedar Rapids, IA (58), Minneapolis-St. Paul-Bloomington, MN-WI (51) and Dubuque, 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 | 194 |
| Total Mortgage Loan Application Amount | $47,870,000 |
| Average Mortgage Loan Application Amount | $246,752 |
| Highest Mortgage Loan Application Amount | $2,455,000 |
| Average Applicant Income | $144,979 |
| Highest Applicant Income | $1,869,000 |
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Farmers & Merchants Savings Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 58 | $ 10,430,000 | $ 179,827 | $ 152,000 |
| Outside any metro area | 57 | $ 13,425,000 | $ 235,526 | $ 117,842 |
| Minneapolis-St. Paul-Bloomington, MN-WI | 51 | $ 13,625,000 | $ 267,156 | $ 168,745 |
| Dubuque, IA | 7 | $ 1,735,000 | $ 247,857 | $ 128,000 |
| St. Louis, MO-IL | 6 | $ 2,620,000 | $ 436,666 | $ 0 |
| Waterloo-Cedar Falls, IA | 5 | $ 1,515,000 | $ 303,000 | $ 91,000 |
| Fargo, ND-MN | 2 | $ 340,000 | $ 170,000 | $ 86,000 |
| Iowa City, IA | 2 | $ 220,000 | $ 110,000 | $ 0 |
| Phoenix-Mesa-Scottsdale, AZ | 2 | $ 970,000 | $ 485,000 | $ 425,000 |
| Cape Coral-Fort Myers, FL | 1 | $ 2,455,000 | $ 2,455,000 | $ 0 |
| Davenport-Moline-Rock Island, IA-IL | 1 | $ 145,000 | $ 145,000 | $ 60,000 |
| Des Moines-West Des Moines, IA | 1 | $ 285,000 | $ 285,000 | $ 126,000 |
| St. Cloud, MN | 1 | $ 105,000 | $ 105,000 | $ 0 |
Mortgage Loan Application Detail Totals for Farmers & Merchants Savings Bank in 2022
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 |
|---|---|---|---|---|---|---|
| Home Purchase | 90 | $23,560,000 | $261,000 | $2,455,000 | $148,000 | $1,869,000 |
| Refinancing | 68 | $20,020,000 | $294,000 | $1,205,000 | $162,000 | $914,000 |
| Cash-out Refinancing | 20 | $3,390,000 | $169,000 | $425,000 | $86,000 | $197,000 |
| Other Purpose | 11 | $655,000 | $59,000 | $195,000 | $115,000 | $239,000 |
| Home Improvement | 5 | $245,000 | $49,000 | $105,000 | $161,000 | $248,000 |
| 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 | 153 | $34,885,000 | $228,000 | $2,455,000 | $130,000 | $914,000 |
| Not applicable | 32 | $10,530,000 | $329,000 | $1,205,000 | $0 | $0 |
| Not Provided | 6 | $1,570,000 | $261,000 | $575,000 | $451,000 | $1,869,000 |
| American Indian or Alaskan Native | 1 | $275,000 | $275,000 | $275,000 | $73,000 | $73,000 |
| Asian | 1 | $105,000 | $105,000 | $105,000 | $58,000 | $58,000 |
| Black or African American | 1 | $505,000 | $505,000 | $505,000 | $117,000 | $117,000 |
| 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) | 194 | $47,870,000 | $246,000 | $2,455,000 | $142,000 | $1,869,000 |
| 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 | 176 | $43,720,000 | $248,000 | $2,455,000 | $145,000 | $1,869,000 |
| Application Withdrawn By Applicant | 7 | $1,765,000 | $252,000 | $405,000 | $133,000 | $425,000 |
| Application Denied By Financial Institution | 6 | $950,000 | $158,000 | $205,000 | $88,000 | $209,000 |
| Application Approved But Not Accepted | 5 | $1,435,000 | $287,000 | $545,000 | $137,000 | $239,000 |
| 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 | 188 | $46,920,000 | $249,000 | $2,455,000 | $144,000 | $1,869,000 |
| Credit History | 2 | $240,000 | $120,000 | $185,000 | $82,000 | $113,000 |
| Debt-To-Income Ratio | 2 | $380,000 | $190,000 | $195,000 | $57,000 | $96,000 |
| Collateral | 1 | $205,000 | $205,000 | $205,000 | $43,000 | $43,000 |
| Credit Application Incomplete | 1 | $125,000 | $125,000 | $125,000 | $209,000 | $209,000 |
| 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 2022 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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