Farmers & Merchants State Bank Mortgage Lending & HMDA Data, 2022
In 2022, Farmers & Merchants State Bank of Waterloo, WI reported 179 mortgage applications totaling $59.5 million, down 51% from 2021. The average application was for $332,541, and applicants reported an average income of $119,051. 61% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Madison, WI (50), Milwaukee-Waukesha-West Allis, WI (15) and Janesville-Beloit, WI (3) (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 | 179 |
| Total Mortgage Loan Application Amount | $59,525,000 |
| Average Mortgage Loan Application Amount | $332,541 |
| Highest Mortgage Loan Application Amount | $3,205,000 |
| Average Applicant Income | $119,051 |
| Highest Applicant Income | $438,000 |
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records Farmers & Merchants State Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 45 | $ 22,775,000 | $ 506,111 | $ 143,000 |
| Jefferson, Wisconsin | 37 | $ 9,695,000 | $ 262,027 | $ 105,000 |
| Dodge, Wisconsin | 10 | $ 2,400,000 | $ 240,000 | $ 107,000 |
| Waukesha, Wisconsin | 8 | $ 2,110,000 | $ 263,750 | $ 104,000 |
| Milwaukee, Wisconsin | 6 | $ 1,240,000 | $ 206,666 | $ 112,000 |
| Columbia, Wisconsin | 5 | $ 885,000 | $ 177,000 | $ 62,000 |
| Adams, Wisconsin | 3 | $ 765,000 | $ 255,000 | $ 227,000 |
| Rock, Wisconsin | 3 | $ 1,265,000 | $ 421,666 | $ 165,000 |
| Sheboygan, Wisconsin | 3 | $ 665,000 | $ 221,666 | $ 320,000 |
| Walworth, Wisconsin | 3 | $ 335,000 | $ 111,666 | $ 81,000 |
| Fond du Lac, Wisconsin | 2 | $ 460,000 | $ 230,000 | $ 37,000 |
| Portage, Wisconsin | 2 | $ 370,000 | $ 185,000 | $ 94,000 |
| Sauk, Wisconsin | 2 | $ 3,230,000 | $ 1,615,000 | $ 65,000 |
| Vernon, Wisconsin | 2 | $ 480,000 | $ 240,000 | $ 239,000 |
| Grant, Wisconsin | 1 | $ 305,000 | $ 305,000 | $ 100,000 |
| Juneau, Wisconsin | 1 | $ 295,000 | $ 295,000 | $ 266,000 |
| Oneida, Wisconsin | 1 | $ 115,000 | $ 115,000 | $ 184,000 |
| St. Croix, Wisconsin | 1 | $ 585,000 | $ 585,000 | $ 227,000 |
| Taylor, Wisconsin | 1 | $ 185,000 | $ 185,000 | $ 120,000 |
| Vilas, Wisconsin | 1 | $ 285,000 | $ 285,000 | $ 398,000 |
| Washington, Wisconsin | 1 | $ 305,000 | $ 305,000 | $ 40,000 |
Mortgage Loan Application Detail Totals for Farmers & Merchants State 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 | 114 | $39,160,000 | $343,000 | $3,205,000 | $118,000 | $438,000 |
| Refinancing | 41 | $11,905,000 | $290,000 | $925,000 | $122,000 | $320,000 |
| Cash-out Refinancing | 20 | $7,920,000 | $396,000 | $2,925,000 | $119,000 | $398,000 |
| Home Improvement | 3 | $395,000 | $131,000 | $305,000 | $0 | $0 |
| Other Purpose | 1 | $145,000 | $145,000 | $145,000 | $0 | $0 |
| 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 | 118 | $31,150,000 | $263,000 | $1,405,000 | $123,000 | $438,000 |
| Not applicable | 39 | $21,915,000 | $561,000 | $3,205,000 | $0 | $0 |
| Not Provided | 16 | $4,670,000 | $291,000 | $805,000 | $100,000 | $182,000 |
| Hispanic | 4 | $1,220,000 | $305,000 | $555,000 | $107,000 | $169,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 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) | 179 | $59,525,000 | $332,000 | $3,205,000 | $119,000 | $438,000 |
| 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 | 110 | $41,990,000 | $381,000 | $3,205,000 | $146,000 | $438,000 |
| Application Approved But Not Accepted | 22 | $6,650,000 | $302,000 | $805,000 | $101,000 | $202,000 |
| Preapproval Approved but not Accepted | 21 | $5,835,000 | $277,000 | $525,000 | $89,000 | $186,000 |
| Application Denied By Financial Institution | 8 | $1,440,000 | $180,000 | $305,000 | $76,000 | $130,000 |
| Application Withdrawn By Applicant | 8 | $1,270,000 | $158,000 | $555,000 | $72,000 | $169,000 |
| Preapproval Denied by Financial Institution | 7 | $1,465,000 | $209,000 | $315,000 | $58,000 | $88,000 |
| File Closed For Incompleteness | 3 | $875,000 | $291,000 | $405,000 | $54,000 | $67,000 |
| 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 | 164 | $56,620,000 | $345,000 | $3,205,000 | $124,000 | $438,000 |
| Credit History | 5 | $855,000 | $171,000 | $225,000 | $82,000 | $130,000 |
| Debt-To-Income Ratio | 4 | $890,000 | $222,000 | $305,000 | $50,000 | $57,000 |
| Credit Application Incomplete | 4 | $860,000 | $215,000 | $315,000 | $66,000 | $100,000 |
| Collateral | 1 | $65,000 | $65,000 | $65,000 | $42,000 | $42,000 |
| Employment History | 1 | $235,000 | $235,000 | $235,000 | $73,000 | $73,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Farmers & Merchants State 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 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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