Farmers & Mechanics Bank Mortgage Lending & HMDA Data, 2020
In 2020, Farmers & Mechanics Bank of Galesburg, IL reported 851 mortgage applications totaling $136.2 million, up 60% from 2019. The average application was for $160,005, and applicants reported an average income of $121,184. 91% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Peoria, IL (230), Davenport-Moline-Rock Island, IA-IL (43) and Chicago-Naperville, IL (9) (applications in parentheses).
| Mortgage Company & Address | Farmers & Mechanics Bank 21 E Main St Galesburg, IL 61401 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 851 |
| Total Mortgage Loan Application Amount | $136,165,000 |
| Average Mortgage Loan Application Amount | $160,005 |
| Highest Mortgage Loan Application Amount | $6,485,000 |
| Average Applicant Income | $121,184 |
| Highest Applicant Income | $1,617,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Farmers & Mechanics Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Knox, Illinois | 468 | $ 49,440,000 | $ 105,641 | $ 104,000 |
| Peoria, Illinois | 166 | $ 40,420,000 | $ 243,493 | $ 166,000 |
| Tazewell, Illinois | 35 | $ 8,155,000 | $ 233,000 | $ 130,000 |
| Warren, Illinois | 35 | $ 2,925,000 | $ 83,571 | $ 84,000 |
| Henry, Illinois | 28 | $ 2,470,000 | $ 88,214 | $ 74,000 |
| Stark, Illinois | 13 | $ 1,145,000 | $ 88,076 | $ 88,000 |
| Fulton, Illinois | 9 | $ 1,145,000 | $ 127,222 | $ 81,000 |
| Mercer, Illinois | 8 | $ 1,170,000 | $ 146,250 | $ 152,000 |
| Cook, Illinois | 6 | $ 1,650,000 | $ 275,000 | $ 228,000 |
| Snohomish, Washington | 5 | $ 2,155,000 | $ 431,000 | $ 166,000 |
| Henderson, Illinois | 4 | $ 360,000 | $ 90,000 | $ 110,000 |
| McLean, Illinois | 4 | $ 7,000,000 | $ 1,750,000 | $ 160,000 |
| Woodford, Illinois | 4 | $ 810,000 | $ 202,500 | $ 113,000 |
| Scott, Iowa | 4 | $ 1,490,000 | $ 372,500 | $ 203,000 |
| King, Washington | 4 | $ 2,250,000 | $ 562,500 | $ 201,000 |
| Jefferson, Colorado | 3 | $ 1,045,000 | $ 348,333 | $ 160,000 |
| Marshall, Illinois | 3 | $ 145,000 | $ 48,333 | $ 93,000 |
| McDonough, Illinois | 3 | $ 295,000 | $ 98,333 | $ 75,000 |
| Rock Island, Illinois | 3 | $ 535,000 | $ 178,333 | $ 224,000 |
| Denver, Colorado | 2 | $ 710,000 | $ 355,000 | $ 327,000 |
| Lee, Florida | 2 | $ 360,000 | $ 180,000 | $ 255,000 |
| Paulding, Georgia | 2 | $ 290,000 | $ 145,000 | $ 38,000 |
| Bureau, Illinois | 2 | $ 180,000 | $ 90,000 | $ 84,000 |
| Champaign, Illinois | 2 | $ 230,000 | $ 115,000 | $ 116,000 |
| Hamilton, Indiana | 2 | $ 580,000 | $ 290,000 | $ 102,000 |
| Pierce, Washington | 2 | $ 750,000 | $ 375,000 | $ 144,000 |
| Maricopa, Arizona | 1 | $ 175,000 | $ 175,000 | $ 121,000 |
| Santa Cruz, Arizona | 1 | $ 185,000 | $ 185,000 | $ 261,000 |
| Middlesex, Connecticut | 1 | $ 315,000 | $ 315,000 | $ 136,000 |
| Martin, Florida | 1 | $ 275,000 | $ 275,000 | $ 127,000 |
| Orange, Florida | 1 | $ 385,000 | $ 385,000 | $ 474,000 |
| Ada, Idaho | 1 | $ 225,000 | $ 225,000 | $ 199,000 |
| Adams, Illinois | 1 | $ 1,035,000 | $ 1,035,000 | $ 0 |
| DeKalb, Illinois | 1 | $ 155,000 | $ 155,000 | $ 80,000 |
| DuPage, Illinois | 1 | $ 155,000 | $ 155,000 | $ 128,000 |
| Kane, Illinois | 1 | $ 265,000 | $ 265,000 | $ 224,000 |
| Lake, Illinois | 1 | $ 215,000 | $ 215,000 | $ 326,000 |
| LaSalle, Illinois | 1 | $ 115,000 | $ 115,000 | $ 53,000 |
| Macon, Illinois | 1 | $ 225,000 | $ 225,000 | $ 125,000 |
| Madison, Illinois | 1 | $ 235,000 | $ 235,000 | $ 67,000 |
| McHenry, Illinois | 1 | $ 395,000 | $ 395,000 | $ 173,000 |
| Ogle, Illinois | 1 | $ 135,000 | $ 135,000 | $ 149,000 |
| Putnam, Illinois | 1 | $ 105,000 | $ 105,000 | $ 88,000 |
| Will, Illinois | 1 | $ 235,000 | $ 235,000 | $ 50,000 |
| Johnson, Iowa | 1 | $ 205,000 | $ 205,000 | $ 79,000 |
| Linn, Iowa | 1 | $ 175,000 | $ 175,000 | $ 30,000 |
| Prince George's, Maryland | 1 | $ 425,000 | $ 425,000 | $ 97,000 |
| Camden, Missouri | 1 | $ 195,000 | $ 195,000 | $ 110,000 |
| Dona Ana, New Mexico | 1 | $ 35,000 | $ 35,000 | $ 91,000 |
| Haywood, North Carolina | 1 | $ 115,000 | $ 115,000 | $ 99,000 |
| Iredell, North Carolina | 1 | $ 405,000 | $ 405,000 | $ 356,000 |
| Paulding, Ohio | 1 | $ 95,000 | $ 95,000 | $ 63,000 |
| Horry, South Carolina | 1 | $ 155,000 | $ 155,000 | $ 88,000 |
| Lexington, South Carolina | 1 | $ 405,000 | $ 405,000 | $ 729,000 |
| Blount, Tennessee | 1 | $ 315,000 | $ 315,000 | $ 236,000 |
| Davidson, Tennessee | 1 | $ 345,000 | $ 345,000 | $ 141,000 |
| Harris, Texas | 1 | $ 275,000 | $ 275,000 | $ 179,000 |
| Loudoun, Virginia | 1 | $ 485,000 | $ 485,000 | $ 168,000 |
Mortgage Loan Application Detail Totals for Farmers & Mechanics 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 | 364 | $78,690,000 | $216,000 | $6,485,000 | $144,000 | $1,272,000 |
| Home Purchase | 325 | $37,575,000 | $115,000 | $1,035,000 | $93,000 | $729,000 |
| Cash-out Refinancing | 129 | $18,445,000 | $142,000 | $505,000 | $139,000 | $1,617,000 |
| Home Improvement | 21 | $885,000 | $42,000 | $265,000 | $76,000 | $158,000 |
| Other Purpose | 12 | $570,000 | $47,000 | $165,000 | $80,000 | $127,000 |
| 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 | 741 | $99,545,000 | $134,000 | $885,000 | $120,000 | $1,617,000 |
| Asian | 41 | $10,085,000 | $245,000 | $745,000 | $154,000 | $666,000 |
| Not applicable | 29 | $22,205,000 | $765,000 | $6,485,000 | $0 | $0 |
| Hispanic | 21 | $3,065,000 | $145,000 | $995,000 | $169,000 | $1,180,000 |
| Black or African American | 17 | $1,225,000 | $72,000 | $165,000 | $68,000 | $211,000 |
| Not Provided | 2 | $40,000 | $20,000 | $35,000 | $45,000 | $91,000 |
| American Indian or Alaskan Native | 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) | 824 | $133,240,000 | $161,000 | $6,485,000 | $124,000 | $1,617,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 19 | $1,585,000 | $83,000 | $195,000 | $48,000 | $79,000 |
| VA-guaranteed (Veterans Administration) | 8 | $1,340,000 | $167,000 | $235,000 | $98,000 | $142,000 |
| 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 | 772 | $128,260,000 | $166,000 | $6,485,000 | $125,000 | $1,617,000 |
| Application Withdrawn By Applicant | 45 | $5,145,000 | $114,000 | $325,000 | $102,000 | $355,000 |
| Application Denied By Financial Institution | 33 | $2,625,000 | $79,000 | $325,000 | $70,000 | $234,000 |
| Application Approved But Not Accepted | 1 | $135,000 | $135,000 | $135,000 | $181,000 | $181,000 |
| 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 |
|---|---|---|---|---|---|---|
| Not applicable | 818 | $133,540,000 | $163,000 | $6,485,000 | $124,000 | $1,617,000 |
| Credit History | 18 | $1,200,000 | $66,000 | $145,000 | $64,000 | $155,000 |
| Debt-To-Income Ratio | 8 | $580,000 | $72,000 | $175,000 | $57,000 | $117,000 |
| Collateral | 4 | $470,000 | $117,000 | $205,000 | $134,000 | $234,000 |
| Credit Application Incomplete | 1 | $15,000 | $15,000 | $15,000 | $71,000 | $71,000 |
| Other | 1 | $325,000 | $325,000 | $325,000 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $35,000 | $35,000 | $35,000 | $28,000 | $28,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Farmers & Mechanics 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 & Mechanics 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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