Farmers & Merchants State Bank Mortgage Lending & HMDA Data, 2021
In 2021, Farmers & Merchants State Bank of Waterloo, WI reported 366 mortgage applications totaling $96.9 million, down 47% from 2020. The average application was for $264,672, and applicants reported an average income of $113,019. 73% of its applications resulted in an originated loan and 3% were denied. Its largest markets were Madison, WI (144), Milwaukee-Waukesha-West Allis, WI (51) and Chicago-Naperville, IL (5) (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 | 366 |
| Total Mortgage Loan Application Amount | $96,870,000 |
| Average Mortgage Loan Application Amount | $264,672 |
| Highest Mortgage Loan Application Amount | $2,405,000 |
| Average Applicant Income | $113,019 |
| Highest Applicant Income | $382,000 |
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records Farmers & Merchants State Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 125 | $ 37,815,000 | $ 302,520 | $ 119,000 |
| Jefferson, Wisconsin | 88 | $ 19,170,000 | $ 217,840 | $ 87,000 |
| Waukesha, Wisconsin | 26 | $ 7,550,000 | $ 290,384 | $ 139,000 |
| Dodge, Wisconsin | 20 | $ 4,680,000 | $ 234,000 | $ 110,000 |
| Columbia, Wisconsin | 18 | $ 3,110,000 | $ 172,777 | $ 105,000 |
| Milwaukee, Wisconsin | 13 | $ 1,845,000 | $ 141,923 | $ 141,000 |
| Washington, Wisconsin | 10 | $ 3,930,000 | $ 393,000 | $ 136,000 |
| Walworth, Wisconsin | 7 | $ 1,765,000 | $ 252,142 | $ 194,000 |
| Rock, Wisconsin | 5 | $ 1,025,000 | $ 205,000 | $ 75,000 |
| Cook, Illinois | 4 | $ 1,330,000 | $ 332,500 | $ 106,000 |
| Hennepin, Minnesota | 3 | $ 1,135,000 | $ 378,333 | $ 198,000 |
| Fond du Lac, Wisconsin | 3 | $ 3,175,000 | $ 1,058,333 | $ 48,000 |
| Kenosha, Wisconsin | 3 | $ 1,625,000 | $ 541,666 | $ 129,000 |
| Ozaukee, Wisconsin | 2 | $ 330,000 | $ 165,000 | $ 120,000 |
| Portage, Wisconsin | 2 | $ 330,000 | $ 165,000 | $ 55,000 |
| Taylor, Wisconsin | 2 | $ 430,000 | $ 215,000 | $ 117,000 |
| DeKalb, Illinois | 1 | $ 355,000 | $ 355,000 | $ 177,000 |
| Lake, Illinois | 1 | $ 315,000 | $ 315,000 | $ 322,000 |
| Will, Illinois | 1 | $ 235,000 | $ 235,000 | $ 188,000 |
| Winnebago, Illinois | 1 | $ 215,000 | $ 215,000 | $ 86,000 |
| Adams, Wisconsin | 1 | $ 205,000 | $ 205,000 | $ 158,000 |
| Barron, Wisconsin | 1 | $ 95,000 | $ 95,000 | $ 69,000 |
| Door, Wisconsin | 1 | $ 225,000 | $ 225,000 | $ 153,000 |
| Eau Claire, Wisconsin | 1 | $ 255,000 | $ 255,000 | $ 146,000 |
| Iowa, Wisconsin | 1 | $ 315,000 | $ 315,000 | $ 82,000 |
| Jackson, Wisconsin | 1 | $ 85,000 | $ 85,000 | $ 137,000 |
| Lincoln, Wisconsin | 1 | $ 155,000 | $ 155,000 | $ 40,000 |
| Marathon, Wisconsin | 1 | $ 105,000 | $ 105,000 | $ 53,000 |
| Marinette, Wisconsin | 1 | $ 125,000 | $ 125,000 | $ 80,000 |
| Marquette, Wisconsin | 1 | $ 155,000 | $ 155,000 | $ 59,000 |
| Oneida, Wisconsin | 1 | $ 175,000 | $ 175,000 | $ 75,000 |
| Price, Wisconsin | 1 | $ 65,000 | $ 65,000 | $ 70,000 |
| Racine, Wisconsin | 1 | $ 235,000 | $ 235,000 | $ 92,000 |
| Sawyer, Wisconsin | 1 | $ 265,000 | $ 265,000 | $ 111,000 |
| St. Croix, Wisconsin | 1 | $ 305,000 | $ 305,000 | $ 110,000 |
| Vernon, Wisconsin | 1 | $ 385,000 | $ 385,000 | $ 350,000 |
| Waushara, Wisconsin | 1 | $ 105,000 | $ 105,000 | $ 51,000 |
| Wood, Wisconsin | 1 | $ 165,000 | $ 165,000 | $ 70,000 |
Mortgage Loan Application Detail Totals for Farmers & Merchants State 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 |
|---|---|---|---|---|---|---|
| Home Purchase | 142 | $42,240,000 | $297,000 | $2,405,000 | $107,000 | $350,000 |
| Refinancing | 127 | $32,095,000 | $252,000 | $1,945,000 | $119,000 | $322,000 |
| Cash-out Refinancing | 97 | $22,535,000 | $232,000 | $545,000 | $114,000 | $382,000 |
| Home Improvement | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other Purpose | 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 | 284 | $66,080,000 | $232,000 | $595,000 | $111,000 | $382,000 |
| Not Provided | 40 | $9,180,000 | $229,000 | $545,000 | $120,000 | $350,000 |
| Not applicable | 21 | $17,455,000 | $831,000 | $2,405,000 | $0 | $0 |
| Hispanic | 11 | $2,425,000 | $220,000 | $415,000 | $97,000 | $158,000 |
| Asian | 6 | $810,000 | $135,000 | $255,000 | $150,000 | $315,000 |
| Black or African American | 2 | $500,000 | $250,000 | $295,000 | $152,000 | $175,000 |
| American Indian or Alaskan Native | 1 | $115,000 | $115,000 | $115,000 | $57,000 | $57,000 |
| 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) | 363 | $96,245,000 | $265,000 | $2,405,000 | $113,000 | $382,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 3 | $625,000 | $208,000 | $245,000 | $67,000 | $74,000 |
| 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 | 267 | $71,645,000 | $268,000 | $2,405,000 | $115,000 | $382,000 |
| Preapproval Approved but not Accepted | 31 | $7,355,000 | $237,000 | $595,000 | $91,000 | $290,000 |
| Application Approved But Not Accepted | 27 | $8,275,000 | $306,000 | $545,000 | $144,000 | $350,000 |
| Application Withdrawn By Applicant | 19 | $4,555,000 | $239,000 | $515,000 | $104,000 | $245,000 |
| Application Denied By Financial Institution | 10 | $2,500,000 | $250,000 | $545,000 | $47,000 | $113,000 |
| File Closed For Incompleteness | 7 | $1,615,000 | $230,000 | $505,000 | $154,000 | $315,000 |
| Preapproval Denied by Financial Institution | 5 | $925,000 | $185,000 | $285,000 | $63,000 | $98,000 |
| 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 |
|---|---|---|---|---|---|---|
| Not applicable | 351 | $93,445,000 | $266,000 | $2,405,000 | $115,000 | $382,000 |
| Debt-To-Income Ratio | 9 | $2,145,000 | $238,000 | $545,000 | $38,000 | $67,000 |
| Credit History | 5 | $1,065,000 | $213,000 | $305,000 | $73,000 | $98,000 |
| Collateral | 1 | $215,000 | $215,000 | $215,000 | $113,000 | $113,000 |
| 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 State 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 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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