Applications / Mortgage Analytics / Lenders / Minnesota / First Farmers & Merchants Bank
Cannon Falls, MN · State non-member bank · FDIC · $490 million assets · 59 loans in 2025
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59
loans originated, 2025
80
applications, 2025
2
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
First Farmers & Merchants Bank made 60.0% of its 59 loans in 2025 in low- and moderate-income (LMI) neighborhoods, more than nearly all similar banks.
Its LMI-neighborhood share of 60.0% compares with 18.5% at similar lenders (state non-member banks making between half and twice as many loans). It was double its own 30.0% in 2024, a jump that at 59 loans may owe something to a few loans moving. A third of its loans, 33.3%, went to LMI borrowers, against 26.9% at its peers. Bankers will note the bearing on its Community Reinvestment Act record.
Refinancing was 50.8% of its loans and purchases 33.9%, all conventional. It lends in 7 counties across 2 states, with the Twin Cities its only metro.
Its 59 loans compare with 58 in 2024, while similar lenders grew 8% and the whole market 10%. It made 237 loans in 2018 and 242 in 2019. It filed no report for 2020 to 2022, so the record has a gap there, and the data do not show why volume is lower now.
It ranked 256 of 688 lenders in Minneapolis-St. Paul-Bloomington, where it has lent since 2014. Bell Bank and United Wholesale Mortgage lead that market.
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Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Years with no HMDA report from this lender are left out: since 2020 a bank making fewer than 100 closed-end loans a year need not report. First Farmers & Merchants Bank took 80 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Refinance 50.8% · Purchase 33.9% · Home improvement 10.2% · Other 5.1%
Conventional 100.0% · of 59 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 |
|---|---|---|
| Minnesota | 16 | 27.1% |
| Wisconsin | 4 | 6.8% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Minneapolis-St. Paul-Bloomington | 20 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300TIX8J3RRFKXZ81 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 217059 | 2014–2023 |
| Respondent ID (the HMDA filer code before 2018) | 310168 | 2014–2017 |
Established 21 June 1915. Reported under HMDA 2014-2025.
Mergers, name changes, data editions and corrections: First Farmers & Merchants Bank's data.
First Farmers & Merchants Bank's data
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First Farmers & Merchants 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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