The Farmers & Merchants 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 412 home-equity (HELOC) lenders. Higher is better. Components the lender does not report are left out and the weights redistributed.
Approval oddsdecision denial rate, weight 45%
80th15.4% deniedPricingmedian rate spread over APOR, weight 30%
34th0.30 ptsProcesswithdrawn + incomplete share, weight 15%
57th11.3%Closing coststotal loan costs ÷ loan amount, weight 10%
59th2.82% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 1,298 | 995 | 14.6% | 15.9% | 7.50% | $187M |
| 2024 | 1,211 | 896 | 15.4% | 17.1% | 8.00% | $141M |
| 2025 | 1,468 | 1,089 | 13.6% | 15.4% | 7.50% | $190M |
What The Farmers & Merchants 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: 806 home-equity lines, 0 reverse mortgages, 36 manufactured homes, 120 investment properties.
Why The Farmers & Merchants State Bank denies applications
Primary reason reported for each of the 200 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at The Farmers & Merchants 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 | 359 | 243 | 23.2% |
| $50k – $100k | 548 | 409 | 15.0% |
| $100k – $150k | 225 | 177 | 9.1% |
| $150k – $250k | 116 | 87 | 11.2% |
| Over $250k | 61 | 51 | 7.3% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under 25 | 114 | 74 | 15.9% |
| 25–34 | 286 | 211 | 15.4% |
| 35–44 | 292 | 213 | 17.6% |
| 45–54 | 253 | 186 | 17.2% |
| 55–64 | 191 | 145 | 16.6% |
| 65–74 | 173 | 129 | 16.1% |
| Over 74 | 87 | 63 | 11.0% |
Where The Farmers & Merchants State Bank lends
12 states and 88 counties in 2025. Click a state for the lender's full record there.
Frequently asked questions
The Farmers & Merchants State Bank denied 15.4% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 80th percentile of home-equity (HELOC) lenders.
The most common reason The Farmers & Merchants State Bank gave in 2025 was "credit history", cited on 42.5% 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 The Farmers & Merchants State Bank originated in 2025 was 7.50%, and its median rate spread over the average prime offer rate was 0.30 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 33% of its applications were for home purchases, 30% for refinancing (including cash-out), and 37% 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.