Farmers & Merchants State Bank Mortgage Lending & HMDA Data, 2025
In 2025, Farmers & Merchants State Bank of Waterloo, WI reported 100 mortgage applications totaling $37.9 million, down 21% from 2024. The average application was for $378,500, and applicants reported an average income of $133,790. 74% of its applications resulted in an originated loan and 5% were denied. Its largest markets were Madison, WI (34), Milwaukee-Waukesha-West Allis, WI (7) and Janesville-Beloit, WI (4) (applications in parentheses).
| Mortgage Company & Address | Farmers & Merchants State Bank 210 W. Madison St. Waterloo, WI 53594 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 | 100 |
| Total Mortgage Loan Application Amount | $37,850,000 |
| Average Mortgage Loan Application Amount | $378,500 |
| Highest Mortgage Loan Application Amount | $3,635,000 |
| Average Applicant Income | $133,790 |
| Highest Applicant Income | $691,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Farmers & Merchants State Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Farmers & Merchants State Bank in 2025
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 | 76 | $28,620,000 | $376,000 | $3,635,000 | $129,000 | $531,000 |
| Refinancing | 16 | $7,690,000 | $480,000 | $2,405,000 | $182,000 | $691,000 |
| Cash-out Refinancing | 5 | $1,225,000 | $245,000 | $675,000 | $84,000 | $186,000 |
| Other Purpose | 2 | $270,000 | $135,000 | $235,000 | $86,000 | $86,000 |
| Home Improvement | 1 | $45,000 | $45,000 | $45,000 | $71,000 | $71,000 |
| 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 | 72 | $19,290,000 | $267,000 | $815,000 | $122,000 | $691,000 |
| Not applicable | 16 | $14,370,000 | $898,000 | $3,635,000 | $0 | $0 |
| Not Provided | 10 | $3,570,000 | $357,000 | $755,000 | $181,000 | $531,000 |
| Asian | 1 | $325,000 | $325,000 | $325,000 | $343,000 | $343,000 |
| Hispanic | 1 | $295,000 | $295,000 | $295,000 | $120,000 | $120,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 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) | 100 | $37,850,000 | $378,000 | $3,635,000 | $132,000 | $691,000 |
| 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 | 74 | $29,350,000 | $396,000 | $3,635,000 | $134,000 | $691,000 |
| Preapproval Approved but not Accepted | 11 | $3,145,000 | $285,000 | $555,000 | $127,000 | $302,000 |
| Application Denied By Financial Institution | 5 | $2,185,000 | $437,000 | $815,000 | $113,000 | $180,000 |
| Application Withdrawn By Applicant | 3 | $595,000 | $198,000 | $455,000 | $120,000 | $241,000 |
| Application Approved But Not Accepted | 3 | $1,215,000 | $405,000 | $495,000 | $170,000 | $208,000 |
| Preapproval Denied by Financial Institution | 2 | $380,000 | $190,000 | $195,000 | $61,000 | $89,000 |
| File Closed For Incompleteness | 2 | $980,000 | $490,000 | $595,000 | $260,000 | $260,000 |
| 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 100 | $37,850,000 | $378,000 | $3,635,000 | $132,000 | $691,000 |
| 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 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Farmers & Merchants State Bank's 2025 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 State 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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