The Farmers & Merchants Bank Mortgage Lending & HMDA Data, 2020
In 2020, The Farmers & Merchants Bank of Boswell, IN reported 317 mortgage applications totaling $60.1 million, up 366% from 2019. The average application was for $189,637, and applicants reported an average income of $103,280. 75% of its applications resulted in an originated loan and 16% were denied. Its largest markets were Lafayette-West Lafayette, IN (261), Indianapolis-Carmel-Anderson, IN (18) and Gary, IN (9) (applications in parentheses).
| Mortgage Company & Address | The Farmers & Merchants Bank 302 S. Old U.S. Highway 41 P.O. Box 519 Boswell, IN 47921 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 |
| Total Number of Mortgage Applications | 317 |
| Total Mortgage Loan Application Amount | $60,115,000 |
| Average Mortgage Loan Application Amount | $189,637 |
| Highest Mortgage Loan Application Amount | $1,935,000 |
| Average Applicant Income | $103,280 |
| Highest Applicant Income | $417,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records The Farmers & Merchants Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Tippecanoe, Indiana | 152 | $ 34,490,000 | $ 226,907 | $ 107,000 |
| Warren, Indiana | 55 | $ 7,975,000 | $ 145,000 | $ 88,000 |
| Benton, Indiana | 52 | $ 6,810,000 | $ 130,961 | $ 94,000 |
| Fountain, Indiana | 12 | $ 1,720,000 | $ 143,333 | $ 101,000 |
| White, Indiana | 7 | $ 1,435,000 | $ 205,000 | $ 139,000 |
| Marion, Indiana | 5 | $ 675,000 | $ 135,000 | $ 134,000 |
| Hendricks, Indiana | 4 | $ 1,130,000 | $ 282,500 | $ 118,000 |
| Newton, Indiana | 4 | $ 620,000 | $ 155,000 | $ 147,000 |
| Boone, Indiana | 3 | $ 1,045,000 | $ 348,333 | $ 132,000 |
| Clinton, Indiana | 3 | $ 445,000 | $ 148,333 | $ 86,000 |
| Lake, Indiana | 3 | $ 605,000 | $ 201,666 | $ 85,000 |
| Carroll, Indiana | 2 | $ 510,000 | $ 255,000 | $ 93,000 |
| Hamilton, Indiana | 2 | $ 450,000 | $ 225,000 | $ 144,000 |
| Johnson, Indiana | 2 | $ 390,000 | $ 195,000 | $ 81,000 |
| Vermillion, Indiana | 2 | $ 310,000 | $ 155,000 | $ 87,000 |
| Adams, Indiana | 1 | $ 145,000 | $ 145,000 | $ 92,000 |
| Allen, Indiana | 1 | $ 75,000 | $ 75,000 | $ 133,000 |
| Hancock, Indiana | 1 | $ 195,000 | $ 195,000 | $ 86,000 |
| Jasper, Indiana | 1 | $ 225,000 | $ 225,000 | $ 108,000 |
| Porter, Indiana | 1 | $ 445,000 | $ 445,000 | $ 387,000 |
| Pulaski, Indiana | 1 | $ 135,000 | $ 135,000 | $ 54,000 |
| Putnam, Indiana | 1 | $ 145,000 | $ 145,000 | $ 72,000 |
| Tipton, Indiana | 1 | $ 25,000 | $ 25,000 | $ 77,000 |
| Wabash, Indiana | 1 | $ 115,000 | $ 115,000 | $ 110,000 |
Mortgage Loan Application Detail Totals for The Farmers & Merchants 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 | 171 | $34,985,000 | $204,000 | $1,935,000 | $104,000 | $417,000 |
| Cash-out Refinancing | 84 | $14,140,000 | $168,000 | $695,000 | $111,000 | $387,000 |
| Home Purchase | 60 | $10,810,000 | $180,000 | $1,165,000 | $92,000 | $367,000 |
| Other Purpose | 2 | $180,000 | $90,000 | $155,000 | $56,000 | $85,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Home Improvement | 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 | 282 | $50,390,000 | $178,000 | $695,000 | $103,000 | $417,000 |
| Not applicable | 14 | $5,900,000 | $421,000 | $1,935,000 | $0 | $0 |
| Not Provided | 11 | $1,595,000 | $145,000 | $215,000 | $93,000 | $150,000 |
| Hispanic | 6 | $1,480,000 | $246,000 | $395,000 | $94,000 | $229,000 |
| American Indian or Alaskan Native | 2 | $290,000 | $145,000 | $205,000 | $199,000 | $314,000 |
| Asian | 1 | $105,000 | $105,000 | $105,000 | $69,000 | $69,000 |
| Black or African American | 1 | $355,000 | $355,000 | $355,000 | $68,000 | $68,000 |
| 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) | 317 | $60,115,000 | $189,000 | $1,935,000 | $103,000 | $417,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 239 | $46,065,000 | $192,000 | $1,935,000 | $104,000 | $417,000 |
| Application Denied By Financial Institution | 50 | $8,200,000 | $164,000 | $355,000 | $89,000 | $375,000 |
| Application Withdrawn By Applicant | 23 | $4,625,000 | $201,000 | $515,000 | $118,000 | $314,000 |
| Application Approved But Not Accepted | 3 | $1,075,000 | $358,000 | $695,000 | $252,000 | $380,000 |
| File Closed For Incompleteness | 2 | $150,000 | $75,000 | $105,000 | $47,000 | $54,000 |
| 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 317 | $60,115,000 | $189,000 | $1,935,000 | $103,000 | $417,000 |
| 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 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into The Farmers & Merchants 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 The Farmers & Merchants 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.
For a list of all lenders in Indiana, download the full spreadsheet
with aggregated HMDA statistics today.
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