Farmers & Merchants State Bank Mortgage Lending & HMDA Data, 2020
In 2020, Farmers & Merchants State Bank of Waterloo, WI reported 689 mortgage applications totaling $175.4 million, up 139% from 2019. The average application was for $254,622, and applicants reported an average income of $128,941. 78% of its applications resulted in an originated loan and 3% were denied. Its largest markets were Madison, WI (310), Milwaukee-Waukesha-West Allis, WI (76) and Chicago-Naperville, IL (10) (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 | 689 |
| Total Mortgage Loan Application Amount | $175,435,000 |
| Average Mortgage Loan Application Amount | $254,622 |
| Highest Mortgage Loan Application Amount | $3,995,000 |
| Average Applicant Income | $128,941 |
| Highest Applicant Income | $1,535,000 |
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records Farmers & Merchants State Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Dane, Wisconsin | 278 | $ 78,160,000 | $ 281,151 | $ 133,000 |
| Jefferson, Wisconsin | 123 | $ 24,675,000 | $ 200,609 | $ 96,000 |
| Dodge, Wisconsin | 58 | $ 13,010,000 | $ 224,310 | $ 93,000 |
| Waukesha, Wisconsin | 52 | $ 13,890,000 | $ 267,115 | $ 147,000 |
| Columbia, Wisconsin | 23 | $ 5,005,000 | $ 217,608 | $ 179,000 |
| Washington, Wisconsin | 13 | $ 4,275,000 | $ 328,846 | $ 128,000 |
| Milwaukee, Wisconsin | 10 | $ 3,590,000 | $ 359,000 | $ 130,000 |
| Cook, Illinois | 9 | $ 2,305,000 | $ 256,111 | $ 145,000 |
| Rock, Wisconsin | 8 | $ 2,120,000 | $ 265,000 | $ 139,000 |
| Racine, Wisconsin | 7 | $ 4,105,000 | $ 586,428 | $ 228,000 |
| Kenosha, Wisconsin | 6 | $ 990,000 | $ 165,000 | $ 97,000 |
| Oneida, Wisconsin | 6 | $ 1,410,000 | $ 235,000 | $ 180,000 |
| Sauk, Wisconsin | 6 | $ 1,890,000 | $ 315,000 | $ 193,000 |
| Winnebago, Wisconsin | 6 | $ 1,250,000 | $ 208,333 | $ 89,000 |
| Green, Wisconsin | 5 | $ 1,585,000 | $ 317,000 | $ 165,000 |
| Iowa, Wisconsin | 4 | $ 520,000 | $ 130,000 | $ 128,000 |
| Marathon, Wisconsin | 4 | $ 880,000 | $ 220,000 | $ 291,000 |
| Sheboygan, Wisconsin | 3 | $ 535,000 | $ 178,333 | $ 199,000 |
| St. Croix, Wisconsin | 3 | $ 1,025,000 | $ 341,666 | $ 138,000 |
| Vilas, Wisconsin | 3 | $ 435,000 | $ 145,000 | $ 65,000 |
| Walworth, Wisconsin | 3 | $ 525,000 | $ 175,000 | $ 59,000 |
| Sherburne, Minnesota | 2 | $ 410,000 | $ 205,000 | $ 180,000 |
| Adams, Wisconsin | 2 | $ 340,000 | $ 170,000 | $ 65,000 |
| Burnett, Wisconsin | 2 | $ 450,000 | $ 225,000 | $ 430,000 |
| Dunn, Wisconsin | 2 | $ 250,000 | $ 125,000 | $ 70,000 |
| Green Lake, Wisconsin | 2 | $ 300,000 | $ 150,000 | $ 85,000 |
| Outagamie, Wisconsin | 2 | $ 330,000 | $ 165,000 | $ 119,000 |
| DeKalb, Illinois | 1 | $ 185,000 | $ 185,000 | $ 151,000 |
| Kane, Illinois | 1 | $ 185,000 | $ 185,000 | $ 124,000 |
| Will, Illinois | 1 | $ 125,000 | $ 125,000 | $ 205,000 |
| Hennepin, Minnesota | 1 | $ 245,000 | $ 245,000 | $ 689,000 |
| Olmsted, Minnesota | 1 | $ 295,000 | $ 295,000 | $ 192,000 |
| Washington, Minnesota | 1 | $ 185,000 | $ 185,000 | $ 87,000 |
| Chippewa, Wisconsin | 1 | $ 105,000 | $ 105,000 | $ 165,000 |
| Door, Wisconsin | 1 | $ 505,000 | $ 505,000 | $ 600,000 |
| Fond du Lac, Wisconsin | 1 | $ 155,000 | $ 155,000 | $ 87,000 |
| Iron, Wisconsin | 1 | $ 205,000 | $ 205,000 | $ 91,000 |
| Jackson, Wisconsin | 1 | $ 165,000 | $ 165,000 | $ 54,000 |
| Juneau, Wisconsin | 1 | $ 215,000 | $ 215,000 | $ 118,000 |
| La Crosse, Wisconsin | 1 | $ 195,000 | $ 195,000 | $ 93,000 |
| Langlade, Wisconsin | 1 | $ 325,000 | $ 325,000 | $ 198,000 |
| Marquette, Wisconsin | 1 | $ 175,000 | $ 175,000 | $ 135,000 |
| Oconto, Wisconsin | 1 | $ 125,000 | $ 125,000 | $ 312,000 |
| Ozaukee, Wisconsin | 1 | $ 275,000 | $ 275,000 | $ 193,000 |
| Pierce, Wisconsin | 1 | $ 275,000 | $ 275,000 | $ 151,000 |
Mortgage Loan Application Detail Totals for Farmers & Merchants State Bank in 2020
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 | 429 | $109,235,000 | $254,000 | $2,395,000 | $135,000 | $1,535,000 |
| Home Purchase | 157 | $44,165,000 | $281,000 | $3,995,000 | $116,000 | $812,000 |
| Cash-out Refinancing | 97 | $21,015,000 | $216,000 | $515,000 | $122,000 | $389,000 |
| Other Purpose | 5 | $925,000 | $185,000 | $355,000 | $156,000 | $242,000 |
| Home Improvement | 1 | $95,000 | $95,000 | $95,000 | $100,000 | $100,000 |
| 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 | 581 | $131,355,000 | $226,000 | $735,000 | $126,000 | $812,000 |
| Not Provided | 61 | $15,585,000 | $255,000 | $515,000 | $165,000 | $1,535,000 |
| Not applicable | 28 | $24,210,000 | $864,000 | $3,995,000 | $0 | $0 |
| Hispanic | 13 | $2,865,000 | $220,000 | $405,000 | $82,000 | $111,000 |
| Asian | 3 | $975,000 | $325,000 | $515,000 | $237,000 | $401,000 |
| Black or African American | 1 | $115,000 | $115,000 | $115,000 | $40,000 | $40,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $205,000 | $205,000 | $205,000 | $202,000 | $202,000 |
| 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) | 684 | $174,560,000 | $255,000 | $3,995,000 | $129,000 | $1,535,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 5 | $875,000 | $175,000 | $225,000 | $60,000 | $70,000 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FHA-insured (Federal Housing 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 | 537 | $142,335,000 | $265,000 | $3,995,000 | $134,000 | $1,535,000 |
| Application Approved But Not Accepted | 48 | $11,740,000 | $244,000 | $455,000 | $136,000 | $367,000 |
| Application Withdrawn By Applicant | 33 | $6,645,000 | $201,000 | $505,000 | $120,000 | $600,000 |
| Preapproval Approved but not Accepted | 26 | $6,540,000 | $251,000 | $515,000 | $105,000 | $190,000 |
| Application Denied By Financial Institution | 20 | $3,600,000 | $180,000 | $505,000 | $74,000 | $151,000 |
| File Closed For Incompleteness | 18 | $3,660,000 | $203,000 | $315,000 | $106,000 | $202,000 |
| Preapproval Denied by Financial Institution | 7 | $915,000 | $130,000 | $225,000 | $61,000 | $133,000 |
| 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 | 689 | $175,435,000 | $254,000 | $3,995,000 | $129,000 | $1,535,000 |
| 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 2020 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.
For a list of all lenders in Wisconsin, download the full spreadsheet
with aggregated HMDA statistics today.
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