Farmers & Merchants State Bank Mortgage Lending & HMDA Data, 2023
In 2023, Farmers & Merchants State Bank of Winterset, IA reported 75 mortgage applications totaling $11.0 million. The average application was for $147,133, and applicants reported an average income of $112,826. 87% of its applications resulted in an originated loan and 7% were denied. Its largest markets were Des Moines-West Des Moines, IA (50) and Ames, IA (1).
| Mortgage Company & Address | Farmers & Merchants State Bank 101 W Jefferson Street Winterset, IA 50273 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 |
| Total Number of Mortgage Applications | 75 |
| Total Mortgage Loan Application Amount | $11,035,000 |
| Average Mortgage Loan Application Amount | $147,133 |
| Highest Mortgage Loan Application Amount | $525,000 |
| Average Applicant Income | $112,826 |
| Highest Applicant Income | $463,000 |
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records Farmers & Merchants State Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Madison, Iowa | 43 | $ 7,375,000 | $ 171,511 | $ 116,000 |
| Adair, Iowa | 10 | $ 690,000 | $ 69,000 | $ 80,000 |
| Union, Iowa | 7 | $ 495,000 | $ 70,714 | $ 39,000 |
| Warren, Iowa | 4 | $ 1,000,000 | $ 250,000 | $ 127,000 |
| Dallas, Iowa | 2 | $ 230,000 | $ 115,000 | $ 85,000 |
| Ringgold, Iowa | 2 | $ 80,000 | $ 40,000 | $ 0 |
| Adams, Iowa | 1 | $ 115,000 | $ 115,000 | $ 90,000 |
| Boone, Iowa | 1 | $ 315,000 | $ 315,000 | $ 463,000 |
| Cass, Iowa | 1 | $ 225,000 | $ 225,000 | $ 182,000 |
| Clarke, Iowa | 1 | $ 15,000 | $ 15,000 | $ 115,000 |
| Decatur, Iowa | 1 | $ 135,000 | $ 135,000 | $ 0 |
| Guthrie, Iowa | 1 | $ 345,000 | $ 345,000 | $ 109,000 |
| Taylor, Iowa | 1 | $ 15,000 | $ 15,000 | $ 41,000 |
Mortgage Loan Application Detail Totals for Farmers & Merchants State Bank in 2023
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 | 35 | $6,655,000 | $190,000 | $525,000 | $141,000 | $463,000 |
| Refinancing | 29 | $3,815,000 | $131,000 | $455,000 | $94,000 | $242,000 |
| Home Improvement | 7 | $305,000 | $43,000 | $105,000 | $79,000 | $124,000 |
| Other Purpose | 4 | $260,000 | $65,000 | $165,000 | $62,000 | $82,000 |
| Cash-out Refinancing | 0 | $0 | $0 | $0 | $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 | 64 | $9,910,000 | $154,000 | $525,000 | $113,000 | $463,000 |
| Not applicable | 11 | $1,125,000 | $102,000 | $255,000 | $0 | $0 |
| Not Provided | 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 |
| 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) | 74 | $10,870,000 | $146,000 | $525,000 | $113,000 | $463,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 1 | $165,000 | $165,000 | $165,000 | $95,000 | $95,000 |
| 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 | 65 | $9,275,000 | $142,000 | $465,000 | $115,000 | $463,000 |
| Application Approved But Not Accepted | 5 | $1,135,000 | $227,000 | $525,000 | $135,000 | $237,000 |
| Application Denied By Financial Institution | 5 | $625,000 | $125,000 | $265,000 | $63,000 | $95,000 |
| Application Withdrawn By Applicant | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 75 | $11,035,000 | $147,000 | $525,000 | $113,000 | $463,000 |
| 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 2023 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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