Farmers & Mechanics Bank Mortgage Lending & HMDA Data, 2009
In 2009, Farmers & Mechanics Bank of Galesburg, IL reported 232 mortgage applications totaling $20.9 million, down 6% from 2008. The average application was for $90,215, and applicants reported an average income of $119,810. 69% of its applications resulted in an originated loan and 15% were denied. Its largest markets were Peoria, IL (49), Davenport-Moline-Rock Island, IA-IL (8) and Allentown-Bethlehem-Easton, PA-NJ (1) (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 | 232 |
| Total Mortgage Loan Application Amount | $20,930,000 |
| Average Mortgage Loan Application Amount | $90,215 |
| Highest Mortgage Loan Application Amount | $1,202,000 |
| Average Applicant Income | $119,810 |
| Highest Applicant Income | $1,562,000 |
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(HMDA) records Farmers & Mechanics Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 156 | $ 10,728,000 | $ 68,769 | $ 90,000 |
| Peoria, Illinois | 37 | $ 3,893,000 | $ 105,216 | $ 175,000 |
| Warren, Illinois | 11 | $ 860,000 | $ 78,181 | $ 77,000 |
| Tazewell, Illinois | 7 | $ 2,285,000 | $ 326,428 | $ 380,000 |
| Mercer, Illinois | 3 | $ 231,000 | $ 77,000 | $ 48,000 |
| Woodford, Illinois | 3 | $ 232,000 | $ 77,333 | $ 120,000 |
| Henry, Illinois | 2 | $ 63,000 | $ 31,500 | $ 37,000 |
| McDonough, Illinois | 2 | $ 161,000 | $ 80,500 | $ 10,000 |
| Scott, Iowa | 2 | $ 235,000 | $ 117,500 | $ 49,000 |
| Sumter, Florida | 1 | $ 213,000 | $ 213,000 | $ 978,000 |
| Grundy, Illinois | 1 | $ 259,000 | $ 259,000 | $ 101,000 |
| Henderson, Illinois | 1 | $ 55,000 | $ 55,000 | $ 122,000 |
| Marshall, Illinois | 1 | $ 65,000 | $ 65,000 | $ 81,000 |
| Rock Island, Illinois | 1 | $ 102,000 | $ 102,000 | $ 372,000 |
| Sangamon, Illinois | 1 | $ 65,000 | $ 65,000 | $ 24,000 |
| Stark, Illinois | 1 | $ 61,000 | $ 61,000 | $ 165,000 |
| Des Moines, Iowa | 1 | $ 220,000 | $ 220,000 | $ 101,000 |
| Northampton, Pennsylvania | 1 | $ 1,202,000 | $ 1,202,000 | $ 1,152,000 |
Mortgage Loan Application Detail Totals for Farmers & Mechanics Bank in 2009
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 | 154 | $15,916,000 | $103,000 | $1,202,000 | $136,000 | $1,562,000 |
| Home Purchase | 48 | $4,376,000 | $91,000 | $500,000 | $99,000 | $1,055,000 |
| Home Improvement | 30 | $638,000 | $21,000 | $90,000 | $70,000 | $331,000 |
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 | 204 | $17,844,000 | $87,000 | $1,202,000 | $123,000 | $1,562,000 |
| Not applicable | 12 | $1,955,000 | $162,000 | $380,000 | $98,000 | $325,000 |
| Hispanic | 10 | $501,000 | $50,000 | $90,000 | $45,000 | $82,000 |
| Black or African American | 4 | $116,000 | $29,000 | $44,000 | $27,000 | $51,000 |
| Asian | 2 | $514,000 | $257,000 | $500,000 | $538,000 | $1,055,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 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) | 217 | $19,378,000 | $89,000 | $1,202,000 | $125,000 | $1,562,000 |
| FHA-insured (Federal Housing Administration) | 13 | $1,304,000 | $100,000 | $259,000 | $54,000 | $101,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 2 | $248,000 | $124,000 | $166,000 | $13,000 | $27,000 |
| 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 | 161 | $15,182,000 | $94,000 | $1,202,000 | $142,000 | $1,562,000 |
| Application Approved But Not Accepted | 36 | $2,969,000 | $82,000 | $220,000 | $70,000 | $325,000 |
| Application Denied By Financial Institution | 34 | $2,759,000 | $81,000 | $278,000 | $69,000 | $372,000 |
| Application Withdrawn By Applicant | 1 | $20,000 | $20,000 | $20,000 | $43,000 | $43,000 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 14 | $1,368,000 | $97,000 | $278,000 | $58,000 | $212,000 |
| Debt-To-Income Ratio | 14 | $957,000 | $68,000 | $230,000 | $68,000 | $372,000 |
| Collateral | 5 | $306,000 | $61,000 | $91,000 | $55,000 | $94,000 |
| Other | 1 | $128,000 | $128,000 | $128,000 | $331,000 | $331,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 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 & Mechanics Bank's 2009 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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