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(HMDA) records Farmers & Mechanics Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Outside any metro area | 519 | $ 55,065,000 | $ 106,098 | $ 102,246 |
| Peoria, IL | 230 | $ 51,820,000 | $ 225,304 | $ 152,000 |
| Davenport-Moline-Rock Island, IA-IL | 43 | $ 5,665,000 | $ 131,744 | $ 109,581 |
| Chicago-Naperville, IL | 9 | $ 2,435,000 | $ 270,555 | $ 191,000 |
| Seattle-Bellevue-Everett, WA | 9 | $ 4,405,000 | $ 489,444 | $ 181,000 |
| Denver-Aurora-Lakewood, CO | 5 | $ 1,755,000 | $ 351,000 | $ 226,000 |
| Bloomington, IL | 4 | $ 7,000,000 | $ 1,750,000 | $ 160,000 |
| Atlanta-Sandy Springs-Roswell, GA | 2 | $ 290,000 | $ 145,000 | $ 38,000 |
| Cape Coral-Fort Myers, FL | 2 | $ 360,000 | $ 180,000 | $ 255,000 |
| Champaign-Urbana, IL | 2 | $ 230,000 | $ 115,000 | $ 116,000 |
| Elgin, IL | 2 | $ 420,000 | $ 210,000 | $ 152,000 |
| Indianapolis-Carmel-Anderson, IN | 2 | $ 580,000 | $ 290,000 | $ 102,000 |
| Tacoma-Lakewood, WA | 2 | $ 750,000 | $ 375,000 | $ 144,000 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 2 | $ 910,000 | $ 455,000 | $ 132,500 |
| Asheville, NC | 1 | $ 115,000 | $ 115,000 | $ 99,000 |
| Boise City, ID | 1 | $ 225,000 | $ 225,000 | $ 199,000 |
| Cedar Rapids, IA | 1 | $ 175,000 | $ 175,000 | $ 30,000 |
| Charlotte-Concord-Gastonia, NC-SC | 1 | $ 405,000 | $ 405,000 | $ 356,000 |
| Columbia, SC | 1 | $ 405,000 | $ 405,000 | $ 729,000 |
| Decatur, IL | 1 | $ 225,000 | $ 225,000 | $ 125,000 |
| Hartford-West Hartford-East Hartford, CT | 1 | $ 315,000 | $ 315,000 | $ 136,000 |
| Houston-The Woodlands-Sugar Land, TX | 1 | $ 275,000 | $ 275,000 | $ 179,000 |
| Iowa City, IA | 1 | $ 205,000 | $ 205,000 | $ 79,000 |
| Knoxville, TN | 1 | $ 315,000 | $ 315,000 | $ 236,000 |
| Lake County-Kenosha County, IL-WI | 1 | $ 215,000 | $ 215,000 | $ 326,000 |
| Las Cruces, NM | 1 | $ 35,000 | $ 35,000 | $ 91,000 |
| Myrtle Beach-Conway-North Myrtle Beach, SC-NC | 1 | $ 155,000 | $ 155,000 | $ 88,000 |
| Nashville-Davidson--Murfreesboro--Franklin, TN | 1 | $ 345,000 | $ 345,000 | $ 141,000 |
| Orlando-Kissimmee-Sanford, FL | 1 | $ 385,000 | $ 385,000 | $ 474,000 |
| Phoenix-Mesa-Scottsdale, AZ | 1 | $ 175,000 | $ 175,000 | $ 121,000 |
| Port St. Lucie, FL | 1 | $ 275,000 | $ 275,000 | $ 127,000 |
| St. Louis, MO-IL | 1 | $ 235,000 | $ 235,000 | $ 67,000 |
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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with aggregated HMDA statistics today.
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