Farmers & Mechanics Bank Mortgage Lending & HMDA Data, 2018
In 2018, Farmers & Mechanics Bank of Galesburg, IL reported 455 mortgage applications totaling $51.3 million, up 3% from 2017. The average application was for $112,780, and applicants reported an average income of $83,740. 91% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Peoria, IL (75), Davenport-Moline-Rock Island, IA-IL (65) and Chicago-Naperville-Arlington Heights, IL (3) (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 | 455 |
| Total Mortgage Loan Application Amount | $51,315,000 |
| Average Mortgage Loan Application Amount | $112,780 |
| Highest Mortgage Loan Application Amount | $4,215,000 |
| Average Applicant Income | $83,740 |
| Highest Applicant Income | $633,000 |
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(HMDA) records Farmers & Mechanics Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 260 | $ 21,530,000 | $ 82,807 | $ 81,000 |
| Henry, Illinois | 59 | $ 4,155,000 | $ 70,423 | $ 64,000 |
| Peoria, Illinois | 50 | $ 15,760,000 | $ 315,200 | $ 115,000 |
| Warren, Illinois | 25 | $ 2,055,000 | $ 82,200 | $ 70,000 |
| Tazewell, Illinois | 16 | $ 1,930,000 | $ 120,625 | $ 123,000 |
| Fulton, Illinois | 11 | $ 875,000 | $ 79,545 | $ 43,000 |
| Stark, Illinois | 5 | $ 395,000 | $ 79,000 | $ 62,000 |
| McDonough, Illinois | 3 | $ 325,000 | $ 108,333 | $ 101,000 |
| Mercer, Illinois | 3 | $ 145,000 | $ 48,333 | $ 71,000 |
| Woodford, Illinois | 3 | $ 345,000 | $ 115,000 | $ 32,000 |
| Cook, Illinois | 2 | $ 620,000 | $ 310,000 | $ 171,000 |
| Henderson, Illinois | 2 | $ 140,000 | $ 70,000 | $ 86,000 |
| Rock Island, Illinois | 2 | $ 190,000 | $ 95,000 | $ 39,000 |
| Manatee, Florida | 1 | $ 205,000 | $ 205,000 | $ 255,000 |
| Sarasota, Florida | 1 | $ 175,000 | $ 175,000 | $ 50,000 |
| Ford, Illinois | 1 | $ 105,000 | $ 105,000 | $ 64,000 |
| Hancock, Illinois | 1 | $ 75,000 | $ 75,000 | $ 35,000 |
| Marshall, Illinois | 1 | $ 195,000 | $ 195,000 | $ 400,000 |
| Ogle, Illinois | 1 | $ 135,000 | $ 135,000 | $ 102,000 |
| Will, Illinois | 1 | $ 225,000 | $ 225,000 | $ 175,000 |
| Jackson, Iowa | 1 | $ 125,000 | $ 125,000 | $ 47,000 |
| Scott, Iowa | 1 | $ 125,000 | $ 125,000 | $ 65,000 |
| Camden, Missouri | 1 | $ 475,000 | $ 475,000 | $ 263,000 |
| Haywood, North Carolina | 1 | $ 115,000 | $ 115,000 | $ 100,000 |
| Lawrence, South Dakota | 1 | $ 235,000 | $ 235,000 | $ 57,000 |
| Harris, Texas | 1 | $ 295,000 | $ 295,000 | $ 158,000 |
| Pierce, Washington | 1 | $ 365,000 | $ 365,000 | $ 105,000 |
Mortgage Loan Application Detail Totals for Farmers & Mechanics Bank in 2018
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 | 305 | $38,635,000 | $126,000 | $4,215,000 | $82,000 | $633,000 |
| Refinancing | 57 | $7,135,000 | $125,000 | $3,085,000 | $107,000 | $305,000 |
| Cash-out Refinancing | 45 | $4,035,000 | $89,000 | $405,000 | $72,000 | $267,000 |
| Other Purpose | 29 | $945,000 | $32,000 | $115,000 | $77,000 | $198,000 |
| Home Improvement | 19 | $565,000 | $29,000 | $65,000 | $80,000 | $349,000 |
| 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 | 402 | $36,780,000 | $91,000 | $475,000 | $85,000 | $633,000 |
| Hispanic | 17 | $1,215,000 | $71,000 | $405,000 | $65,000 | $196,000 |
| Black or African American | 14 | $750,000 | $53,000 | $175,000 | $81,000 | $278,000 |
| Not applicable | 14 | $12,000,000 | $857,000 | $4,215,000 | $0 | $0 |
| Asian | 4 | $210,000 | $52,000 | $65,000 | $123,000 | $212,000 |
| Native Hawaiian or Other Pacific Islander | 2 | $220,000 | $110,000 | $135,000 | $76,000 | $90,000 |
| Not Provided | 2 | $140,000 | $70,000 | $105,000 | $39,000 | $52,000 |
| American Indian or Alaskan Native | 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) | 373 | $45,045,000 | $120,000 | $4,215,000 | $92,000 | $633,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 73 | $4,975,000 | $68,000 | $175,000 | $42,000 | $85,000 |
| VA-guaranteed (Veterans Administration) | 9 | $1,295,000 | $143,000 | $225,000 | $92,000 | $184,000 |
| 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 | 413 | $48,285,000 | $116,000 | $4,215,000 | $85,000 | $633,000 |
| Application Denied By Financial Institution | 20 | $910,000 | $45,000 | $205,000 | $55,000 | $255,000 |
| Application Withdrawn By Applicant | 17 | $1,705,000 | $100,000 | $455,000 | $83,000 | $317,000 |
| Application Approved But Not Accepted | 5 | $415,000 | $83,000 | $135,000 | $109,000 | $194,000 |
| 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 | 435 | $50,405,000 | $115,000 | $4,215,000 | $85,000 | $633,000 |
| Collateral | 6 | $490,000 | $81,000 | $205,000 | $71,000 | $255,000 |
| Debt-To-Income Ratio | 6 | $170,000 | $28,000 | $55,000 | $56,000 | $111,000 |
| Credit History | 5 | $175,000 | $35,000 | $85,000 | $46,000 | $90,000 |
| Employment History | 1 | $45,000 | $45,000 | $45,000 | $44,000 | $44,000 |
| Credit Application Incomplete | 1 | $15,000 | $15,000 | $15,000 | $50,000 | $50,000 |
| Other | 1 | $15,000 | $15,000 | $15,000 | $24,000 | $24,000 |
| Unverifiable Information | 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 2018 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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