Farmers State Bank at a glance, 2025
Every figure is from the lender's own HMDA filing. "vs national" compares with all lenders combined.
How the B grade breaks down
Each component is a percentile rank among 1,883 small mortgage lenders. Higher is better. Components the lender does not report are left out and the weights redistributed.
Approval oddsdecision denial rate, weight 45%
60th7.5% deniedPricingmedian rate spread over APOR, weight 30%
53rd0.24 ptsProcesswithdrawn + incomplete share, weight 15%
89th1.9%Closing coststotal loan costs ÷ loan amount, weight 10%
76th1.25% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 343 | 228 | 9.0% | 9.3% | 7.38% | $35M |
| 2024 | 421 | 313 | 5.2% | 5.4% | 6.95% | $96M |
| 2025 | 516 | 390 | 7.4% | 7.5% | 6.75% | $105M |
What Farmers State Bank lends
Applications by purpose and loan type in 2025, with the denial rate for each. A lender's mix explains a lot of its headline rate: HELOCs and FHA loans are denied far more often than conventional purchase loans.
By loan purpose
By loan type
Also: 0 home-equity lines, 0 reverse mortgages, 4 manufactured homes, 82 investment properties.
Why Farmers State Bank denies applications
Primary reason reported for each of the 38 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at Farmers State Bank
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 50 | 39 | 16.0% |
| $50k – $100k | 174 | 118 | 11.6% |
| $100k – $150k | 114 | 82 | 6.4% |
| $150k – $250k | 79 | 68 | 0.0% |
| Over $250k | 43 | 32 | 2.4% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under 25 | 37 | 28 | 5.4% |
| 25–34 | 120 | 96 | 11.1% |
| 35–44 | 126 | 94 | 7.2% |
| 45–54 | 82 | 54 | 8.9% |
| 55–64 | 62 | 45 | 8.2% |
| 65–74 | 37 | 25 | 5.4% |
Where Farmers State Bank lends
5 states and 36 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Iowa | 509 | 384 | 7.5% | 6.75% | #43 |
Frequently asked questions
Farmers State Bank denied 7.5% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 60th percentile of small mortgage lenders.
The most common reason Farmers State Bank gave in 2025 was "credit history", cited on 50.0% of its denials. Lenders report up to four reasons per denial to the CFPB; the full breakdown is on this page.
The median interest rate on loans Farmers State Bank originated in 2025 was 6.75%, and its median rate spread over the average prime offer rate was 0.24 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 50% of its applications were for home purchases, 34% for refinancing (including cash-out), and 16% for home improvement or other purposes. By loan type: 100% conventional, 0% FHA, 0% VA.
Every figure on this page comes from the Home Mortgage Disclosure Act (HMDA) Loan/Application Register published by the CFPB, which lenders are required by federal law to file. We add the grade and the comparisons; we do not add facts.