Applications / Mortgage Analytics / Lenders / Iowa / Farmers State Bank
Marion, IA · State non-member bank · FDIC · $1.1 billion assets · 147 loans in 2025
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147
loans originated, 2025
194
applications, 2025
2
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Farmers State Bank lends to low- and moderate-income (LMI) borrowers at about twice the rate of similar banks, and ranks 8 of 210 in Cedar Rapids, its largest market.
LMI borrowers took 56.4% of its loans, against 28.1% at similar lenders (state non-member banks making between half and twice as many loans), higher than at nearly all of them. Five years before, the figure was 40.8%. LMI areas took 22.6%, against 17.2%.
It made 147 loans, 17% fewer than in 2024, while similar lenders and the whole market each grew 10%. Yet its lending in dollars rose, from $42.4 million to $57.7 million. Jumbo loans (larger than the conforming limit) rose to 4.4% from 0.6%.
Its share of Cedar Rapids rose from 2.5% to 3.0%, behind GreenState Credit Union and Hills Bank and Trust Company. In Iowa City its share fell to 0.5% from 0.8%. That could reflect its smaller loan count this year, or stronger lending by the market's leaders.
All its loans were conventional and 74.8% were for home purchase. Its typical rate was 6.62%, against 6.97% at peers, lower than at about six in seven of them. Higher-priced loans (a rate well above the average for similar loans) were 1.1% of its total, against 3.0%.
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Originated means the loan was made: applications denied, withdrawn or not accepted are not counted.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 194 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 74.8% · Refinance 18.4% · Home improvement 5.4% · Other 1.4%
Conventional 100.0% · of 147 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 |
|---|---|---|
| Iowa | 146 | 99.3% |
| Kentucky | 1 | 0.7% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Cedar Rapids | 117 |
| Iowa City | 18 |
| Des Moines-West Des Moines | 3 |
| Ames | 1 |
| Davenport-Moline-Rock Island | 1 |
| Louisville/Jefferson County | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300EXKS98GEONUS84 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 1006148 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 314209 | 1990–2017 |
Established 27 August 1927. Reported under HMDA 1990-2025.
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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