The Farmers & Merchants Bank Mortgage Lending & HMDA Data, 2024
In 2024, The Farmers & Merchants Bank of Boswell, IN reported 22 mortgage applications totaling $4.3 million, down 58% from 2023. The average application was for $196,818, and applicants reported an average income of $136,090. 68% of its applications resulted in an originated loan and 14% were denied. Its largest markets were Lafayette-West Lafayette, IN (20) and Lake County-Porter County-Jasper County, IN (2).
| 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 | 22 |
| Total Mortgage Loan Application Amount | $4,330,000 |
| Average Mortgage Loan Application Amount | $196,818 |
| Highest Mortgage Loan Application Amount | $845,000 |
| Average Applicant Income | $136,090 |
| Highest Applicant Income | $529,000 |
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records The Farmers & Merchants Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Lafayette-West Lafayette, IN | 20 | $ 3,620,000 | $ 181,000 | $ 142,000 |
| Lake County-Porter County-Jasper County, IN | 2 | $ 710,000 | $ 355,000 | $ 119,000 |
Mortgage Loan Application Detail Totals for The Farmers & Merchants Bank in 2024
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 | 15 | $3,135,000 | $209,000 | $845,000 | $123,000 | $256,000 |
| Refinancing | 4 | $940,000 | $235,000 | $505,000 | $110,000 | $183,000 |
| Other Purpose | 2 | $110,000 | $55,000 | $55,000 | $298,000 | $529,000 |
| Home Improvement | 1 | $145,000 | $145,000 | $145,000 | $113,000 | $113,000 |
| Cash-out Refinancing | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 19 | $3,045,000 | $160,000 | $505,000 | $140,000 | $529,000 |
| Not applicable | 3 | $1,285,000 | $428,000 | $845,000 | $0 | $0 |
| Not Provided | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| Hispanic | 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) | 22 | $4,330,000 | $196,000 | $845,000 | $140,000 | $529,000 |
| 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 | 15 | $2,945,000 | $196,000 | $845,000 | $164,000 | $529,000 |
| Application Denied By Financial Institution | 3 | $745,000 | $248,000 | $505,000 | $107,000 | $183,000 |
| Application Withdrawn By Applicant | 2 | $390,000 | $195,000 | $305,000 | $84,000 | $95,000 |
| File Closed For Incompleteness | 1 | $45,000 | $45,000 | $45,000 | $170,000 | $170,000 |
| Application Approved But Not Accepted | 1 | $205,000 | $205,000 | $205,000 | $56,000 | $56,000 |
| 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 | 22 | $4,330,000 | $196,000 | $845,000 | $140,000 | $529,000 |
| 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 2024 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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