# Farmers State Bank

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


> **📋 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 Lagrange, IN, serving borrowers across 2 states, with 124 loans originated in the most recent reporting period.

**At a Glance:**
- **Pricing:** Ranks in the top 77% of lenders for competitive rates
- **Approval Rate:** Ranks in the top 44% for loan approval success

## Overview

- **Institution Type:** Bank
- **LEI (Legal Entity Identifier):** 549300H3GIHYP3MB0302
- **Headquarters:** Lagrange, IN
- **Geographic Reach:** Regional
- **States Served:** 2
- **State List:** IN, MI
- **Markets (MSAs):** 2
- **Primary Channel:** Direct to Consumer
- **Direct Origination:** 100%
- **Brokered/Wholesale:** 0%

## Safe Rate Ratings

### Pricing: Acceptable 🙂
- Score: 23/100
- Rating: ●●○○○ (2/5)

### Pull Through: Sound ☺️
- Score: 56/100
- Rating: ●●●○○ (3/5)

### Pricing Details
- **Average Rate Spread:** -0.098%
  - *(Average of lender's APR minus market average APR)*
- **Average Net Fees:** $1,492
  - *(Borrower paid Origination Charges minus Lender Credits)*

### Lending Volume
- **Total Loans:** 124
- **Dollar Volume:** $33 million
- **Applications Received:** 161
- **Market Share:** 0.00%

## Typical Borrower Profile

- **Average Loan Amount:** $262,823
- **Average Borrower Income:** $107,089
- **Average Property Value:** $539,919

## Performance by Loan Product

| Product | Score | Volume | Avg Spread | Avg Fees | Rating |
|---------|-------|--------|------------|----------|--------|
| Conventional | 46/100 | 123 | -0.093% | $1,496 | Sound ☺️ |

### Product Performance by Purpose

**Conventional:**
- Purchase: 78 loans, Score: 41/100 (Sound)
- Refinance: 45 loans, Score: 45/100 (Sound)

## Performance by Loan Purpose

| Purpose | Score | Volume | Dollar Volume | Avg Spread | Rating |
|---------|-------|--------|---------------|------------|--------|
| Purchase | 41/100 | 79 | $22M | -0.016% | Sound ☺️ |
| Refinance | 42/100 | 45 | $11M | -0.216% | Sound ☺️ |

## State Performance

| State | Volume | Market Share | Place Score |
|-------|--------|--------------|-------------|
| IN | 111 | 0.12% | 69/100 |
| MI | 13 | 0.01% | 45/100 |

## Top Metro Markets (MSAs)

| Market | State | Volume | Place Score |
|--------|-------|--------|-------------|
| Non |  | 93 | 60/100 |
| Elkhart | IN | 27 | 65/100 |

## Where This Lender Ranks

Farmers State Bank appears in the following market rankings:

### Best Overall Mortgage Lenders

- 🏆 **#7** in Elkhart Banks
  - [View Full Rankings](https://saferate.com/elkhart/best-mortgage-lenders/banks)
- 🏆 **#8** in Elkhart for Conventional Loans (Banks)
  - [View Full Rankings](https://saferate.com/elkhart/best-mortgage-lenders/banks/conventional-loans)
- 🏆 **#18** in Elkhart
  - [View Full Rankings](https://saferate.com/elkhart/best-mortgage-lenders)

## 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 2 states: IN, MI.

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

Farmers State Bank has a pricing score of 23/100 (Acceptable), based on analysis of their loan data including average rate spread and fees compared to market benchmarks.
Their average rate spread is 0.098% 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 Lagrange, IN.

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

Farmers State Bank has a pull-through score of 56/100 (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-in

### How to Cite

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

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