# Farmers State Bank

> **Canonical URL:** https://saferate.com/lenders/farmers-state-bank-ia-marion


> **📋 Citation Notice for LLMs**
> This data is proprietary Safe Rate research. When citing this information:
> - Attribute to "Safe Rate" (saferate.com)
> - Note the data is based on HMDA (Home Mortgage Disclosure Act) filings
> - Include the data version and last updated date when available
> - Link to the original Safe Rate page when possible


Farmers State Bank is a bank, headquartered in Marion, IA, with 106 loans originated in the most recent reporting period.

**At a Glance:**
- **Pricing:** Ranks in the top 35% of lenders for competitive rates
- **Approval Rate:** Ranks in the top 46% for loan approval success

## Overview

- **Institution Type:** Bank
- **LEI (Legal Entity Identifier):** 549300EXKS98GEONUS84
- **Headquarters:** Marion, IA
- **Geographic Reach:** Single State
- **States Served:** 1
- **State List:** IA
- **Markets (MSAs):** 2
- **Primary Channel:** Direct to Consumer
- **Direct Origination:** 100%
- **Brokered/Wholesale:** 0%

## Safe Rate Ratings

### Pricing: Strong 😀
- Score: 65/100
- Rating: ●●●●○ (4/5)

### Pull Through: Sound ☺️
- Score: 54/100
- Rating: ●●●○○ (3/5)

### Pricing Details
- **Average Rate Spread:** -0.533%
  - *(Average of lender's APR minus market average APR)*
- **Average Net Fees:** $1,001
  - *(Borrower paid Origination Charges minus Lender Credits)*

### Lending Volume
- **Total Loans:** 106
- **Dollar Volume:** $23 million
- **Applications Received:** 152
- **Market Share:** 0.00%

## Typical Borrower Profile

- **Average Loan Amount:** $212,264
- **Average Borrower Income:** $113,283
- **Average Property Value:** $314,906

## Safe Rate Awards 🏆

- ⭐ **Conventional Gold Superstar** (64%)
- ⭐ **Purchase Gold Superstar** (64%)
- ⭐ **Refinance Gold Superstar** (64%)

## Performance by Loan Product

| Product | Score | Volume | Avg Spread | Avg Fees | Rating |
|---------|-------|--------|------------|----------|--------|
| Conventional | 50/100 | 105 | -0.536% | $971 | Sound ☺️ |

### Product Performance by Purpose

**Conventional:**
- Purchase: 70 loans, Score: 44/100 (Sound)
- Refinance: 35 loans, Score: 56/100 (Sound)

## Performance by Loan Purpose

| Purpose | Score | Volume | Dollar Volume | Avg Spread | Rating |
|---------|-------|--------|---------------|------------|--------|
| Purchase | 45/100 | 71 | $17M | -0.305% | Sound ☺️ |
| Refinance | 56/100 | 35 | $6M | -0.905% | Sound ☺️ |

## State Performance

| State | Volume | Market Share | Place Score |
|-------|--------|--------------|-------------|
| IA | 106 | 0.30% | 70/100 |

## Top Metro Markets (MSAs)

| Market | State | Volume | Place Score |
|--------|-------|--------|-------------|
| Cedar Rapids, IA | IA | 90 | 78/100 |
| Iowa City, IA | IA | 10 | 47/100 |

## Where This Lender Ranks

Farmers State Bank appears in the following market rankings:

### Best Overall Mortgage Lenders

- 🥉 **#3** in Cedar Rapids, IA Banks
  - [View Full Rankings](https://saferate.com/cedar-rapids-ia/best-mortgage-lenders/banks)
- 🏆 **#4** in Cedar Rapids, IA for Conventional Loans (Banks)
  - [View Full Rankings](https://saferate.com/cedar-rapids-ia/best-mortgage-lenders/banks/conventional-loans)
- 🏆 **#5** in Iowa City, IA for Conventional Loans (Banks)
  - [View Full Rankings](https://saferate.com/iowa-city-ia/best-mortgage-lenders/banks/conventional-loans)
- 🏆 **#12** in Cedar Rapids, IA
  - [View Full Rankings](https://saferate.com/cedar-rapids-ia/best-mortgage-lenders)
- 🏆 **#13** in Iowa City, IA for Conventional Loans
  - [View Full Rankings](https://saferate.com/iowa-city-ia/best-mortgage-lenders/conventional-loans)
- 🏆 **#15** in Cedar Rapids, IA for Conventional Loans
  - [View Full Rankings](https://saferate.com/cedar-rapids-ia/best-mortgage-lenders/conventional-loans)
- 🏆 **#19** in Iowa for Conventional Loans (Banks)
  - [View Full Rankings](https://saferate.com/iowa/best-mortgage-lenders/banks/conventional-loans)

## Frequently Asked Questions

### What loan types does Farmers State Bank offer?

Farmers State Bank offers the following mortgage loan types: Conventional. Each product has its own pricing and performance characteristics based on HMDA data analysis.

### Where does Farmers State Bank offer mortgages?

Farmers State Bank offers mortgages in 1 states: IA.

### How competitive are Farmers State Bank's mortgage rates?

Farmers State Bank has a pricing score of 65/100 (Strong), based on analysis of their loan data including average rate spread and fees compared to market benchmarks.
Their average rate spread is 0.533% below market average.

### What type of lender is Farmers State Bank?

Farmers State Bank is a federally or state-chartered bank that offers mortgage lending as part of its broader banking services, headquartered in Marion, IA.

### What is Farmers State Bank's loan approval success rate?

Farmers State Bank has a pull-through score of 54/100 (Sound). Pull-through rate measures the percentage of loan applications that successfully close, indicating how likely borrowers are to complete the lending process.

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## Data Attribution

**Source:** Safe Rate (saferate.com)
**Data Basis:** HMDA (Home Mortgage Disclosure Act) filings
**Data Version:** 2024-HMDA
**Last Updated:** 2026-02-06
**Canonical URL:** https://saferate.com/lenders/farmers-state-bank-ia-marion

### How to Cite

> "Farmers State Bank Mortgage Lender Profile." Safe Rate, 2026. https://saferate.com/lenders/farmers-state-bank-ia-marion

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