Applications / Mortgage Analytics / Lenders / Indiana / Farmers State Bank
Lagrange, IN · State non-member bank · FDIC · $1.3 billion assets · 548 loans in 2025
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548
loans originated, 2025
642
applications, 2025
3
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Farmers State Bank is an Indiana bank whose originations rose 26% in 2025, faster than most similar banks, and whose share of lending in Elkhart-Goshen rose.
Originations rose 26% to 548, against 9% for the typical similar lender (state non-member banks making between half and twice as many loans) and 10% for the whole market, faster than more than four in five peers. Its dollar volume rose to $118.2 million from $73.8 million, and its typical loan to $155,000 from $105,000.
Purchases were 40.3% of its loans, refinances 29.7%, other purposes 15.5% and home improvement 14.4%. All were conventional. 6.2% were for manufactured homes, against 1.6% for peers, more than at four in five.
It ranks 15 of 201 lenders in Elkhart-Goshen, with 2.0% of the dollars against 1.3% a year earlier, in a market led by Interra Credit Union, Cardinal Financial Company and Ruoff Mortgage Company.
Only 1.3% of its loans were in low- and moderate-income (LMI) tracts, against 15.8% for peers, among the lowest of them, and 0.7% in majority-minority tracts, against 8.0%. One possible reason is that few such tracts lie in the 17 counties where it lends; its largest market is non-metro Indiana.
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Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Farmers State Bank took 642 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 40.3% · Refinance 29.7% · Other 15.5% · Home improvement 14.4%
Conventional 100.0% · of 548 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 |
|---|---|---|
| Indiana | 495 | 90.3% |
| Michigan | 52 | 9.5% |
| Florida | 1 | 0.2% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Elkhart-Goshen | 89 |
| South Bend-Mishawaka | 5 |
| Fort Wayne | 2 |
| Lafayette-West Lafayette | 1 |
| North Port-Bradenton-Sarasota | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300H3GIHYP3MB0302 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 113441 | 2010–2023 |
| Respondent ID (the HMDA filer code before 2018) | 314578 | 2009–2017 |
Established 16 July 1934. Reported under HMDA 2009-2025.
Mergers, name changes, data editions and corrections: Farmers State Bank's data.
Farmers State Bank's data
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Farmers 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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