Applications / Mortgage Analytics / Lenders / Ohio / The Farmers & Merchants State Bank
Archbold, OH · State non-member bank · FDIC · $3.4 billion assets · 1,089 loans in 2025
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1,089
loans originated, 2025
1,468
applications, 2025
10
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
The Farmers & Merchants State Bank is an Ohio lender of small conventional loans that grew 22% in 2025 and lends more to low- and moderate-income borrowers than nearly all similar lenders.
Its typical loan was $105,000 against $195,000 at similar lenders (state non-member banks making between half and twice as many loans), smaller than at more than nine in ten of them. Refinances were 32.1% of its loans, purchases 32.0%, other purposes 19.4% and home improvement 16.5%, and all were conventional.
Originations rose 22% to 1,089, against 10% at peers and the whole market, and its dollar volume rose from $141.4 million to $190.1 million. Its mergers in the record date from 2021 and before. It made 1,491 loans in 2020.
LMI (low- and moderate-income) borrowers took 47.3% of its loans against 27.1% at peers, higher than nearly all of them, and up from 30.5% five years before. LMI areas took 6.7% against 14.8%, and majority-minority areas 1.2% against 7.1%; the make-up of the non-metro Ohio and Indiana markets it serves is one possible reason.
Its share of Toledo, its market since before 1990, rose 0.1 points to 1.5%, ranking 19 of 334. In Springfield, Ohio, which it entered in 2021, its share rose 0.4 points to 0.6%, ranking 30 of 216.
Questions the data can answer next
Similar lenders: same lender type, originations between half and twice the lender's in the data year. Written from the 2025 HMDA data and checked figure by figure against it.
FIG. 1 — LOANS ORIGINATED, 2018–2025
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. The Farmers & Merchants State Bank took 1,468 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Refinance 32.1% · Purchase 32.0% · Other 19.4% · Home improvement 16.5%
Conventional 100.0% · of 1,089 loans. Purchase: buying a home. Refinance: replacing an existing mortgage, including cash-out. FHA: insured by the Federal Housing Administration. VA: guaranteed by the Department of Veterans Affairs. Conventional: neither.
SOURCE: FFIEC HMDA 2025, LOANS ORIGINATED
Where it lends, 2025
| State | Loans | Share |
|---|---|---|
| Ohio | 659 | 60.5% |
| Indiana | 373 | 34.3% |
| Michigan | 44 | 4.0% |
| Florida | 5 | 0.5% |
| Kentucky | 3 | 0.3% |
| Georgia | 1 | 0.1% |
| Illinois | 1 | 0.1% |
| North Carolina | 1 | 0.1% |
| Tennessee | 1 | 0.1% |
| Texas | 1 | 0.1% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Toledo | 246 |
| Fort Wayne | 54 |
| Springfield | 24 |
| Warren-Troy-Farmington Hills | 17 |
| Columbus | 8 |
| Cincinnati | 7 |
| Indianapolis-Carmel-Greenwood | 7 |
| Elkhart-Goshen | 5 |
| Muncie | 4 |
| Monroe | 3 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 254900LDNBFL67R4FW27 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 214414 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 35969 | 1990–2017 |
Established 1 April 1897. Reported under HMDA 1990-2025.
Mergers, name changes, data editions and corrections: The Farmers & Merchants State Bank's data.
The Farmers & Merchants State Bank's data
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The Farmers & Merchants State Bank and its peers, 2018–2025: every application in the HMDA data, cleaned and corrected, as Parquet files, with the Jenner programs that made these pages.
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Every mortgage application reported under HMDA from 1990 to 2025, cleaned and corrected, every lender followed across name changes and mergers, with the market-share and fair-lending tables behind these pages and the Jenner programs that built them: the warehouse and the datamart, as Parquet files.
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