Farmers & Mechanics Bank Mortgage Lending & HMDA Data, 2014
In 2014, Farmers & Mechanics Bank of Galesburg, IL reported 458 mortgage applications totaling $38.4 million, down 13% from 2013. The average application was for $83,842, and applicants reported an average income of $77,751. 88% of its applications resulted in an originated loan and 7% were denied. Its largest markets were Peoria, IL (55), Davenport-Moline-Rock Island, IA-IL (16) and Oklahoma City, OK (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 | 458 |
| Total Mortgage Loan Application Amount | $38,400,000 |
| Average Mortgage Loan Application Amount | $83,842 |
| Highest Mortgage Loan Application Amount | $1,300,000 |
| Average Applicant Income | $77,751 |
| Highest Applicant Income | $949,000 |
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(HMDA) records Farmers & Mechanics Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Peoria, IL | 55 | $ 9,364,000 | $ 170,254 | $ 96,000 |
| Davenport-Moline-Rock Island, IA-IL | 16 | $ 1,306,000 | $ 81,625 | $ 63,000 |
| Oklahoma City, OK | 2 | $ 464,000 | $ 232,000 | $ 209,000 |
| Clarksville, TN-KY | 1 | $ 192,000 | $ 192,000 | $ 217,000 |
| Columbia, SC | 1 | $ 385,000 | $ 385,000 | $ 124,000 |
| Crestview-Fort Walton Beach-Destin, FL | 1 | $ 90,000 | $ 90,000 | $ 153,000 |
| Fort Worth-Arlington, TX | 1 | $ 133,000 | $ 133,000 | $ 73,000 |
| Lake County-Kenosha County, IL-WI | 1 | $ 25,000 | $ 25,000 | $ 56,000 |
| North Port-Sarasota-Bradenton, FL | 1 | $ 200,000 | $ 200,000 | $ 42,000 |
| Racine, WI | 1 | $ 145,000 | $ 145,000 | $ 97,000 |
| Sebastian-Vero Beach, FL | 1 | $ 100,000 | $ 100,000 | $ 168,000 |
| Tampa-St. Petersburg-Clearwater, FL | 1 | $ 65,000 | $ 65,000 | $ 68,000 |
| Waterloo-Cedar Falls, IA | 1 | $ 32,000 | $ 32,000 | $ 45,000 |
Mortgage Loan Application Detail Totals for Farmers & Mechanics Bank in 2014
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 | 212 | $19,348,000 | $91,000 | $721,000 | $87,000 | $949,000 |
| Refinancing | 202 | $17,924,000 | $88,000 | $1,300,000 | $73,000 | $668,000 |
| Home Improvement | 44 | $1,128,000 | $25,000 | $214,000 | $55,000 | $153,000 |
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 | 421 | $34,188,000 | $81,000 | $809,000 | $81,000 | $949,000 |
| Not applicable | 17 | $2,796,000 | $164,000 | $1,300,000 | $0 | $0 |
| Hispanic | 9 | $593,000 | $65,000 | $212,000 | $67,000 | $165,000 |
| Black or African American | 7 | $212,000 | $30,000 | $93,000 | $42,000 | $90,000 |
| Asian | 3 | $601,000 | $200,000 | $270,000 | $102,000 | $148,000 |
| Not Provided | 1 | $10,000 | $10,000 | $10,000 | $36,000 | $36,000 |
| 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) | 427 | $36,435,000 | $85,000 | $1,300,000 | $80,000 | $949,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 28 | $1,810,000 | $64,000 | $114,000 | $42,000 | $83,000 |
| FHA-insured (Federal Housing Administration) | 2 | $98,000 | $49,000 | $64,000 | $44,000 | $77,000 |
| VA-guaranteed (Veterans Administration) | 1 | $57,000 | $57,000 | $57,000 | $36,000 | $36,000 |
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 | 401 | $35,042,000 | $87,000 | $1,300,000 | $81,000 | $949,000 |
| Application Denied By Financial Institution | 33 | $1,662,000 | $50,000 | $130,000 | $52,000 | $160,000 |
| Application Withdrawn By Applicant | 13 | $750,000 | $57,000 | $133,000 | $39,000 | $73,000 |
| Application Approved But Not Accepted | 11 | $946,000 | $86,000 | $375,000 | $71,000 | $207,000 |
| 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 |
|---|---|---|---|---|---|---|
| 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 2014 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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