Farmers & Mechanics Bank Mortgage Lending & HMDA Data, 2013
In 2013, Farmers & Mechanics Bank of Galesburg, IL reported 526 mortgage applications totaling $47.4 million, up 168% from 2012. The average application was for $90,150, and applicants reported an average income of $85,045. 92% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Peoria, IL (42), Davenport-Moline-Rock Island, IA-IL (26) and Chicago-Joliet-Naperville, IL (4) (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 | 526 |
| Total Mortgage Loan Application Amount | $47,419,000 |
| Average Mortgage Loan Application Amount | $90,150 |
| Highest Mortgage Loan Application Amount | $3,600,000 |
| Average Applicant Income | $85,045 |
| Highest Applicant Income | $1,331,000 |
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(HMDA) records Farmers & Mechanics Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 405 | $ 31,386,000 | $ 77,496 | $ 74,000 |
| Peoria, Illinois | 31 | $ 4,624,000 | $ 149,161 | $ 158,000 |
| Warren, Illinois | 28 | $ 1,754,000 | $ 62,642 | $ 56,000 |
| Mercer, Illinois | 12 | $ 822,000 | $ 68,500 | $ 70,000 |
| Tazewell, Illinois | 9 | $ 1,353,000 | $ 150,333 | $ 127,000 |
| Henry, Illinois | 6 | $ 579,000 | $ 96,500 | $ 90,000 |
| Rock Island, Illinois | 4 | $ 271,000 | $ 67,750 | $ 88,000 |
| Scott, Iowa | 4 | $ 767,000 | $ 191,750 | $ 153,000 |
| Collier, Florida | 2 | $ 460,000 | $ 230,000 | $ 312,000 |
| Bureau, Illinois | 2 | $ 305,000 | $ 152,500 | $ 75,000 |
| Cook, Illinois | 2 | $ 505,000 | $ 252,500 | $ 166,000 |
| Fulton, Illinois | 2 | $ 75,000 | $ 37,500 | $ 33,000 |
| Henderson, Illinois | 2 | $ 195,000 | $ 97,500 | $ 75,000 |
| McDonough, Illinois | 2 | $ 281,000 | $ 140,500 | $ 72,000 |
| Woodford, Illinois | 2 | $ 288,000 | $ 144,000 | $ 279,000 |
| Mohave, Arizona | 1 | $ 425,000 | $ 425,000 | $ 113,000 |
| Greene, Arkansas | 1 | $ 185,000 | $ 185,000 | $ 49,000 |
| Larimer, Colorado | 1 | $ 338,000 | $ 338,000 | $ 117,000 |
| District of Columbia, District Of Columbia | 1 | $ 406,000 | $ 406,000 | $ 118,000 |
| Indian River, Florida | 1 | $ 370,000 | $ 370,000 | $ 214,000 |
| Sarasota, Florida | 1 | $ 850,000 | $ 850,000 | $ 251,000 |
| DuPage, Illinois | 1 | $ 170,000 | $ 170,000 | $ 56,000 |
| Sangamon, Illinois | 1 | $ 76,000 | $ 76,000 | $ 75,000 |
| Will, Illinois | 1 | $ 105,000 | $ 105,000 | $ 163,000 |
| Chickasaw, Iowa | 1 | $ 20,000 | $ 20,000 | $ 35,000 |
| Dallas, Iowa | 1 | $ 294,000 | $ 294,000 | $ 89,000 |
| Lee, Iowa | 1 | $ 174,000 | $ 174,000 | $ 96,000 |
| Northampton, Pennsylvania | 1 | $ 341,000 | $ 341,000 | $ 1,331,000 |
Mortgage Loan Application Detail Totals for Farmers & Mechanics Bank in 2013
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 | 305 | $30,263,000 | $99,000 | $3,600,000 | $89,000 | $1,331,000 |
| Home Purchase | 182 | $16,313,000 | $89,000 | $850,000 | $78,000 | $318,000 |
| Home Improvement | 39 | $843,000 | $21,000 | $69,000 | $87,000 | $356,000 |
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 | 500 | $41,434,000 | $82,000 | $850,000 | $87,000 | $1,331,000 |
| Hispanic | 10 | $709,000 | $70,000 | $344,000 | $64,000 | $190,000 |
| Not applicable | 8 | $4,818,000 | $602,000 | $3,600,000 | $0 | $0 |
| Black or African American | 5 | $245,000 | $49,000 | $135,000 | $68,000 | $86,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $56,000 | $56,000 | $56,000 | $28,000 | $28,000 |
| American Indian or Alaskan Native | 1 | $65,000 | $65,000 | $65,000 | $57,000 | $57,000 |
| Asian | 1 | $92,000 | $92,000 | $92,000 | $60,000 | $60,000 |
| 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) | 522 | $47,202,000 | $90,000 | $3,600,000 | $85,000 | $1,331,000 |
| FHA-insured (Federal Housing Administration) | 4 | $217,000 | $54,000 | $78,000 | $26,000 | $49,000 |
| 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 | 484 | $44,667,000 | $92,000 | $3,600,000 | $86,000 | $1,331,000 |
| Application Denied By Financial Institution | 20 | $871,000 | $43,000 | $147,000 | $43,000 | $107,000 |
| Application Approved But Not Accepted | 16 | $1,601,000 | $100,000 | $529,000 | $109,000 | $794,000 |
| Application Withdrawn By Applicant | 4 | $215,000 | $53,000 | $93,000 | $57,000 | $78,000 |
| Loan Purchased By The Institution | 2 | $65,000 | $32,000 | $50,000 | $24,000 | $39,000 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 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 |
|---|---|---|---|---|---|---|
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 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 |
| 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 & Mechanics Bank's 2013 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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with aggregated HMDA statistics today.
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