Farmers & Mechanics Bank Mortgage Lending & HMDA Data, 2016
In 2016, Farmers & Mechanics Bank of Galesburg, IL reported 460 mortgage applications totaling $41.7 million, up 14% from 2015. The average application was for $90,671, and applicants reported an average income of $80,650. 91% of its applications resulted in an originated loan and 5% were denied. Its largest markets were Peoria, IL (50), Davenport-Moline-Rock Island, IA-IL (19) and Cape Coral-Fort Myers, FL (2) (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 | 460 |
| Total Mortgage Loan Application Amount | $41,709,000 |
| Average Mortgage Loan Application Amount | $90,671 |
| Highest Mortgage Loan Application Amount | $671,000 |
| Average Applicant Income | $80,650 |
| Highest Applicant Income | $902,000 |
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(HMDA) records Farmers & Mechanics Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 338 | $ 26,494,000 | $ 78,384 | $ 78,000 |
| Peoria, Illinois | 35 | $ 3,028,000 | $ 86,514 | $ 78,000 |
| Warren, Illinois | 21 | $ 1,432,000 | $ 68,190 | $ 78,000 |
| Henry, Illinois | 17 | $ 1,277,000 | $ 75,117 | $ 68,000 |
| Tazewell, Illinois | 9 | $ 1,396,000 | $ 155,111 | $ 89,000 |
| Bureau, Illinois | 4 | $ 608,000 | $ 152,000 | $ 78,000 |
| Fulton, Illinois | 4 | $ 438,000 | $ 109,500 | $ 63,000 |
| McDonough, Illinois | 4 | $ 1,926,000 | $ 481,500 | $ 84,000 |
| Lee, Florida | 2 | $ 189,000 | $ 94,500 | $ 33,000 |
| Cook, Illinois | 2 | $ 645,000 | $ 322,500 | $ 215,000 |
| Marshall, Illinois | 2 | $ 258,000 | $ 129,000 | $ 52,000 |
| Mercer, Illinois | 2 | $ 136,000 | $ 68,000 | $ 49,000 |
| Sangamon, Illinois | 2 | $ 256,000 | $ 128,000 | $ 161,000 |
| Stark, Illinois | 2 | $ 199,000 | $ 99,500 | $ 71,000 |
| Woodford, Illinois | 2 | $ 732,000 | $ 366,000 | $ 13,000 |
| Greene, Arkansas | 1 | $ 180,000 | $ 180,000 | $ 59,000 |
| Charlotte, Florida | 1 | $ 110,000 | $ 110,000 | $ 92,000 |
| Indian River, Florida | 1 | $ 460,000 | $ 460,000 | $ 169,000 |
| Manatee, Florida | 1 | $ 205,000 | $ 205,000 | $ 69,000 |
| Pinellas, Florida | 1 | $ 244,000 | $ 244,000 | $ 178,000 |
| Johnson, Illinois | 1 | $ 89,000 | $ 89,000 | $ 65,000 |
| Macoupin, Illinois | 1 | $ 19,000 | $ 19,000 | $ 20,000 |
| Mason, Illinois | 1 | $ 81,000 | $ 81,000 | $ 76,000 |
| McLean, Illinois | 1 | $ 176,000 | $ 176,000 | $ 279,000 |
| Union, Illinois | 1 | $ 102,000 | $ 102,000 | $ 65,000 |
| Boone, Indiana | 1 | $ 200,000 | $ 200,000 | $ 470,000 |
| Dallas, Iowa | 1 | $ 285,000 | $ 285,000 | $ 178,000 |
| Johnson, Iowa | 1 | $ 127,000 | $ 127,000 | $ 153,000 |
| Oklahoma, Oklahoma | 1 | $ 417,000 | $ 417,000 | $ 273,000 |
Mortgage Loan Application Detail Totals for Farmers & Mechanics Bank in 2016
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 | 250 | $22,676,000 | $90,000 | $460,000 | $78,000 | $554,000 |
| Refinancing | 179 | $17,395,000 | $97,000 | $671,000 | $81,000 | $748,000 |
| Home Improvement | 31 | $1,638,000 | $52,000 | $309,000 | $100,000 | $902,000 |
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 | 425 | $38,759,000 | $91,000 | $671,000 | $83,000 | $902,000 |
| Hispanic | 15 | $843,000 | $56,000 | $132,000 | $60,000 | $165,000 |
| Not applicable | 9 | $1,226,000 | $136,000 | $451,000 | $0 | $0 |
| Black or African American | 7 | $474,000 | $67,000 | $176,000 | $100,000 | $381,000 |
| Asian | 4 | $407,000 | $101,000 | $172,000 | $55,000 | $76,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiin 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) | 425 | $38,433,000 | $90,000 | $671,000 | $83,000 | $902,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 26 | $1,827,000 | $70,000 | $155,000 | $40,000 | $85,000 |
| VA-guaranteed (Veterans Administration) | 9 | $1,449,000 | $161,000 | $287,000 | $79,000 | $119,000 |
| 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 | 419 | $39,184,000 | $93,000 | $671,000 | $82,000 | $902,000 |
| Application Denied By Financial Institution | 21 | $1,218,000 | $58,000 | $141,000 | $47,000 | $123,000 |
| Application Approved But Not Accepted | 16 | $1,161,000 | $72,000 | $188,000 | $84,000 | $367,000 |
| Application Withdrawn By Applicant | 2 | $82,000 | $41,000 | $42,000 | $40,000 | $44,000 |
| File Closed For Incompleteness | 2 | $64,000 | $32,000 | $33,000 | $32,000 | $48,000 |
| 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 |
|---|---|---|---|---|---|---|
| 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 2016 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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