Merchants Bank Mortgage Rates, Fees & Info

Winona, MN

LEI: 549300OZIFHR7THILC90

Tax ID: 41-0632402

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Merchants Bank is a smaller bank specializing in Home Purchase loans. Merchants Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Minneapolis, Winona, La Crosse, Rochester, and Fergus Falls among others. We have data for 58 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Merchants Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Merchants Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 4.26% 12/16/24
    30 Year Conventional Purchase 6.41% 12/16/24
    30 Year Conventional Refi 6.37% 12/16/24
    30 Year Cash-out Refi 6.57% 12/16/24
    30 Year FHA Purchase 7.29% 12/16/24
    30 Year FHA Refi 6.27% 12/16/24
    30 Year VA Purchase 5.87% 12/16/24
    30 Year USDA Purchase 6.55% 12/16/24
    15 Year Conventional Purchase 5.72% 12/16/24
    15 Year Conventional Refi 5.86% 12/16/24
    15 Year Cash-out Refi 5.86% 12/16/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Merchants Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Merchants Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    2,544

    Origination Dollar Volume (All Markets)

    $405,260,000

    Employee count

    399 Show all (14) awards

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 501 $95,265,000 $190,150 $3,564 4.14%
    Outside of Metro Areas 339 $55,365,000 $163,319 $3,086 4.45%
    Winona, MN (FHA|USDA|VA) 493 $55,255,000 $112,079 $2,995 4.11%
    LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 307 $45,345,000 $147,704 $1,914 4.35%
    ROCHESTER, MN (FHA|USDA|VA) 251 $39,605,000 $157,789 $3,031 4.14%
    Fergus Falls, MN (FHA|USDA|VA) 114 $21,180,000 $185,789 $3,235 4.49%
    Red Wing, MN (FHA|USDA|VA) 150 $20,170,000 $134,467 $3,620 3.99%
    Marshall, MN (FHA|USDA|VA) 40 $7,470,000 $186,750 $3,114 4.50%
    EAU CLAIRE, WI (FHA|USDA|VA) 51 $7,225,000 $141,667 $2,045 4.27%
    DULUTH, MN-WI (FHA|USDA|VA) 36 $6,280,000 $174,444 $3,256 4.66%
    Brainerd, MN (FHA|USDA|VA) 32 $6,130,000 $191,563 $3,416 4.46%
    GRAND FORKS, ND-MN (FHA|USDA|VA) 26 $5,180,000 $199,231 $3,782 4.42%
    ROCKFORD, IL (FHA|USDA|VA) 23 $4,495,000 $195,435 $2,066 4.47%
    FARGO, ND-MN (FHA|USDA|VA) 22 $4,170,000 $189,545 $4,015 4.68%
    Willmar, MN (FHA|USDA|VA) 17 $3,285,000 $193,235 $3,665 4.59%
    MANKATO, MN (FHA|USDA|VA) 20 $2,890,000 $144,500 $3,081 4.69%
    ST. CLOUD, MN (FHA|USDA|VA) 12 $2,680,000 $223,333 $3,983 4.46%
    Alexandria, MN (FHA|USDA|VA) 10 $2,230,000 $223,000 $3,539 4.28%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 6 $2,050,000 $341,667 $5,713 4.36%
    Faribault-Northfield, MN (FHA|USDA|VA) 11 $2,005,000 $182,273 $4,110 4.15%
    Baraboo, WI (FHA|USDA|VA) 2 $1,880,000 $940,000 $0 5.03%
    BISMARCK, ND (FHA|USDA|VA) 7 $1,595,000 $227,857 $4,903 4.20%
    Mason City, IA (FHA|USDA|VA) 12 $1,260,000 $105,000 $2,405 4.34%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $1,155,000 $1,155,000 $11,248 3.65%
    Hutchinson, MN (FHA|USDA|VA) 5 $815,000 $163,000 $3,864 4.43%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 4 $760,000 $190,000 $2,669 4.46%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $700,000 $350,000 $6,175 4.71%
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 2 $690,000 $345,000 $9,036 3.40%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $580,000 $290,000 $0 4.56%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 2 $570,000 $285,000 $4,271 4.34%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $550,000 $275,000 $4,659 4.96%
    MADISON, WI (FHA|USDA|VA) 3 $505,000 $168,333 $2,514 3.78%
    Bemidji, MN (FHA|USDA|VA) 2 $410,000 $205,000 $2,520 4.09%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 2 $380,000 $190,000 $1,776 3.84%
    Owatonna, MN (FHA|USDA|VA) 2 $380,000 $190,000 $3,309 4.46%
    Minot, ND (FHA|USDA|VA) 2 $370,000 $185,000 $4,613 4.15%
    New Ulm, MN (FHA|USDA|VA) 3 $345,000 $115,000 $2,733 4.73%
    Norfolk, NE (FHA|USDA|VA) 1 $345,000 $345,000 $3,054 4.65%
    Albert Lea, MN (FHA|USDA|VA) 3 $335,000 $111,667 $3,211 4.73%
    Fernley, NV (FHA|USDA|VA) 2 $280,000 $140,000 $5,488 4.34%
    Menomonie, WI (FHA|USDA|VA) 3 $245,000 $81,667 $2,389 4.59%
    JACKSONVILLE, FL (FHA|USDA|VA) 1 $235,000 $235,000 $4,925 4.65%
    Rochelle, IL (FHA|USDA|VA) 1 $235,000 $235,000 $2,259 3.90%
    WAUSAU-WESTON, WI (FHA|USDA|VA) 1 $235,000 $235,000 $1,640 4.53%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 1 $225,000 $225,000 $4,678 5.11%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $215,000 $215,000 $5,267 4.28%
    Worthington, MN (FHA|USDA|VA) 1 $195,000 $195,000 $4,249 4.53%
    COLUMBUS, IN (FHA|USDA|VA) 1 $185,000 $185,000 $1,352 4.65%
    SIOUX FALLS, SD (FHA|USDA|VA) 1 $175,000 $175,000 $5,094 4.40%
    Austin, MN (FHA|USDA|VA) 3 $165,000 $55,000 $1,330 5.02%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $155,000 $155,000 $0 4.00%
    Wahpeton, ND-MN (FHA|USDA|VA) 1 $155,000 $155,000 $3,833 4.65%
    Brookings, SD (FHA|USDA|VA) 1 $145,000 $145,000 $3,338 4.40%
    LINCOLN, NE (FHA|USDA|VA) 1 $115,000 $115,000 $1,891 5.15%
    Fairmont, MN (FHA|USDA|VA) 1 $115,000 $115,000 $3,561 4.40%
    Freeport, IL (FHA|USDA|VA) 1 $105,000 $105,000 $1,819 4.65%
    OCALA, FL (FHA|USDA|VA) 1 $95,000 $95,000 $3,309 4.28%
    Burlington, IA-IL (FHA|USDA|VA) 1 $85,000 $85,000 $2,047 4.90%
    Merchants Bank's top markets include Minneapolis, Winona, La Crosse, Rochester, and Fergus Falls among others.

    Their top states include:
  • Minnesota (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • North Dakota (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Merchants Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

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    Similarity Rank: 184

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,779 $350,685,000 $197,125 $3,030 4.58%
    HELOC 724 $47,090,000 $65,041 n/a 3.43%
    VA 17 $4,055,000 $238,529 $6,318 4.75%
    FHA 13 $2,035,000 $156,538 $5,768 5.02%
    USDA 11 $1,395,000 $126,818 $4,223 4.53%

    For 2018, Merchants Bank's most frequently originated type of loan was Conventional, with 1,779 originations. Their 2nd most popular type was HELOC, with 724 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,310 $274,660,000 $209,664 $3,276 4.52%
    Refi 526 $65,260,000 $124,068 $2,431 4.36%
    Other 313 $18,125,000 $57,907 $390 3.26%
    Cash Out Refi 213 $36,895,000 $173,216 $3,070 4.56%
    Home Improvement 182 $10,320,000 $56,703 $1,332 3.46%

    For 2018, Merchants Bank's most frequently cited loan purpose was Home Purchase, with 1,310 originations. The 2nd most popular reason was Refi, with 526 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,965 $299,895,000 $152,618 $3,230 4.16%
    15 Year 211 $38,545,000 $182,678 $2,921 4.03%
    20 Year 127 $22,395,000 $176,339 $2,864 4.77%
    5 Year 77 $13,275,000 $172,403 $319 4.86%
    Other 76 $16,860,000 $221,842 $692 5.28%
    10 Year 59 $9,835,000 $166,695 $2,597 4.61%
    1 Year 19 $3,145,000 $165,526 $0 5.19%
    3 Year 10 $1,310,000 $131,000 $1,744 5.15%

    For 2018, Merchants Bank's most frequently cited loan duration was 30 Year, with 1,965 originations. The 2nd most popular length was 15 Year, with 211 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 583 $115,975,000 $198,928
    $1k-2k 444 $60,990,000 $137,365
    $2k-3k 345 $74,385,000 $215,609
    $3k-4k 109 $31,575,000 $289,679
    $4k-5k 36 $12,480,000 $346,667
    $5k+ 11 $4,765,000 $433,182

    Merchants Bank's average total fees were $3,230, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 583 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 1,415 $274,855,000 $194,244
    2.5-3% 472 $29,120,000 $61,695
    3-4% 324 $52,930,000 $163,364
    5-6% 313 $46,585,000 $148,834
    6-7% 18 $1,730,000 $96,111
    7-8% 1 $35,000 $35,000

    During 2018, Merchants Bank's average interest rate for loans was 4.16%, while their most frequently originated rate bucket for loans was 4-5%, with 1,415 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 916 $45,550,000 $49,727 $1,942 3.93%
    $100k-200k 913 $133,525,000 $146,249 $2,964 4.46%
    $200k-400k 602 $161,380,000 $268,073 $3,632 4.40%
    $400k-600k 91 $40,015,000 $439,725 $3,854 4.46%
    $600k-1MM 14 $10,890,000 $777,857 $2,177 4.57%
    $1MM+ 8 $13,900,000 $1,737,500 $11,248 4.60%

    2018 saw Merchants Bank place emphasis on $100,000 or less loans with 916 originations, totaling $45,550,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 536 $94,660,000 $176,604 $3,252 4.11%
    $50k-75k 515 $66,175,000 $128,495 $3,067 4.26%
    $50k or less 444 $45,000,000 $101,351 $2,755 4.38%
    $75k-100k 429 $64,745,000 $150,921 $3,172 4.18%
    $150k-250k 277 $55,215,000 $199,332 $3,477 4.18%
    $250k+ 144 $33,460,000 $232,361 $3,665 4.19%

    Merchants Bank lent most frequently to those with incomes in the $100k-150k range, with 536 originations. The second most popular income band? $50k-75k, with 515 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 616 $87,080,000 $141,364 $2,958 4.04%
    30-36% 447 $67,835,000 $151,756 $3,020 4.25%
    <20% 233 $29,265,000 $125,601 $2,964 3.96%
    41% 108 $14,590,000 $135,093 $3,222 4.03%
    40% 99 $14,675,000 $148,232 $2,924 4.22%
    39% 90 $13,190,000 $146,556 $2,886 4.03%
    37% 87 $13,895,000 $159,713 $3,276 4.09%
    36% 84 $14,260,000 $169,762 $3,557 4.24%
    38% 77 $11,815,000 $153,442 $2,745 4.33%
    43% 70 $13,190,000 $188,429 $3,530 4.45%
    42% 68 $11,960,000 $175,882 $2,962 4.51%
    44% 61 $9,835,000 $161,230 $3,226 4.48%
    46% 42 $8,760,000 $208,571 $3,447 4.41%
    49% 41 $7,525,000 $183,537 $3,359 4.51%
    48% 40 $8,160,000 $204,000 $3,321 4.31%
    50-60% 36 $6,840,000 $190,000 $3,579 4.36%
    45% 35 $6,825,000 $195,000 $3,331 4.46%
    47% 34 $6,780,000 $199,412 $3,936 4.49%
    >60% 27 $5,855,000 $216,852 $3,243 4.27%

    Merchants Bank lent most frequently to those with DTI ratios of 20-30%, with 616 originations. The next most common DTI ratio? 30-36%, with 447 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,185 $338,645,000 $154,986 $3,115 4.22%
    Not applicable 143 $38,815,000 $271,434 $0 4.94%
    Not provided 179 $20,345,000 $113,659 $2,763 4.17%
    Asian 24 $4,900,000 $204,167 $2,695 4.47%
    American Indian 4 $740,000 $185,000 $3,500 4.78%
    Black 5 $575,000 $115,000 $4,098 4.59%
    Vietnamese 1 $445,000 $445,000 $315 4.78%
    Other Asian 1 $385,000 $385,000 $1,890 4.78%
    Filipino 1 $235,000 $235,000 $4,592 3.53%
    Native Hawaiian 1 $175,000 $175,000 $2,736 5.15%

    Approval Rates

    Total approvals of all applications
    96.70%

    Merchants Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    89.23%

    Merchants Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,544 $405,260,000 $159,300

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 7 $4,955,000 $707,857
    Multifamily:Site-Built 24 $15,860,000 $660,833
    Single Family (1-4 Units):Manufactured 34 $3,970,000 $116,765
    Single Family (1-4 Units):Site-Built 2,479 $380,475,000 $153,479

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 296 $26,480,000 $89,459 $1,916 3.74%
    40-60% 276 $44,850,000 $162,500 $2,694 4.30%
    60-80% 707 $150,565,000 $212,963 $3,084 4.53%
    80-100% 829 $166,085,000 $200,344 $3,336 4.55%
    Over 100% 5 $1,185,000 $237,000 $9,148 4.85%
    Under 20% 430 $15,840,000 $36,837 $532 3.57%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    MORGAN STANLEY & CO. LLC Conventional home mortgage Struggling to pay mortgage 1 33.3%
    MORGAN STANLEY & CO. LLC Home equity loan or line of credit (HELOC) Trouble during payment process 1 33.3%
    MORGAN STANLEY & CO. LLC Other type of mortgage Closing on a mortgage 1 33.3%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Merchants Bank, National Association 100-106 East Third Street Winona, MN 55987 Full Service B&M $379,466
    Merchants Bank, National Association 101 Jessie Street West Rushford, MN 55971 Full Service B&M $40,947
    Merchants Bank, National Association 1130 Whitewater Avenue St. Charles, MN 55972 Full Service B&M $60,706
    Merchants Bank, National Association 115 West Washington Street Caledonia, MN 55921 Full Service B&M $55,056
    Merchants Bank, National Association 118 Parkway Avenue North Lanesboro, MN 55949 Full Service B&M $44,151
    Merchants Bank, National Association 126 West Main Street Spring Grove, MN 55974 Full Service B&M $33,799
    Merchants Bank, National Association 15055 Chippendale Avenue South Rosemount, MN 55068 Full Service B&M $33,210
    Merchants Bank, National Association 1525 Vermillion Street Hastings, MN 55033 Full Service B&M $52,750
    Merchants Bank, National Association 1600 Greenview Dr Sw Rochester, MN 55902 Full Service B&M $42,159
    Merchants Bank, National Association 18550 Joplin Avenue Lakeville, MN 55044 Full Service B&M $40,966
    Merchants Bank, National Association 20150 Highview Avenue Lakeville, MN 55044 Full Service B&M $84
    Merchants Bank, National Association 23280 Main Street Hampton, MN 55031 Full Service B&M $21,631
    Merchants Bank, National Association 2728 Mall Drive Eau Claire, WI 54701 Full Service B&M $49,712
    Merchants Bank, National Association 2835 South Service Drive Red Wing, MN 55066 Full Service B&M $64,353
    Merchants Bank, National Association 300 West Main Street Cannon Falls, MN 55009 Full Service B&M $89,855
    Merchants Bank, National Association 3140 Market Place Onalaska, WI 54650 Full Service B&M $94,178
    Merchants Bank, National Association 316 Main Street La Crescent, MN 55947 Full Service B&M $78,950
    Merchants Bank, National Association 3586 55th Street Nw Rochester, MN 55901 Full Service B&M $59,718
    Merchants Bank, National Association 4124 Sixth Street-Goodview Winona, MN 55987 Full Service B&M $20,699
    Merchants Bank, National Association 627 Mankato Avenue Winona, MN 55987 Full Service B&M $18,288
    Merchants Bank, National Association 7200 East Douglas Point Road South Cottage Grove, MN 55016 Full Service B&M $47,631
    Merchants Bank, National Association 7300 147th Street West, Suite 100 Apple Valley, MN 55124 Full Service B&M $54,451

    For 2018, Merchants Bank had 22 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $73,789
    Net interest income $66,225
    Total noninterest income $18,412
    Gross Fiduciary activities income $1,553
    Service charges on deposit accounts $2,591
    Trading account gains and fees $0
    Additional Noninterest Income $14,268
    Pre-tax net operating income $28,911
    Securities gains (or losses, -) $0
    Income before extraordinary items $21,650
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $21,650
    Minority interest net income $0
    Net income $21,650
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $21,650

    Merchants Bank's gross interest income from loans was $73,789,000.
    Merchants Bank's net interest income from loans was $66,225,000.
    Merchants Bank's fee based income from loans was $2,591,000.
    Merchants Bank's net income from loans was $21,650,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $7,564
    Provision for credit losses $811
    Total noninterest expense $54,915
    Salaries and employee benefits $35,185
    Premises and equipment expense $3,419
    Additional noninterest expense $16,311
    Applicable income taxes $7,261
    Net charge-offs $1,138
    Cash dividends $8,730

    Merchants Bank's interest expense for loans was $7,564,000.
    Merchants Bank's payroll and benefits expense were $35,185,000.
    Merchants Bank's property, plant and equipment expenses $3,419,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 1.0%
    Nonfarm, nonresidential loans 1.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $1,437,349
    Deposits held in domestic offices $1,437,349
    Deposits by Individuals, partnerships, and corporations $1,383,443
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $53,906
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $392,160
    Demand deposits $242,576
    Nontransaction accounts $1,045,189
    Money market deposit accounts (MMDAs) $357,875
    Other savings deposits (excluding MMDAs) $381,984
    Total time deposits $305,330
    Total time and savings deposits $1,194,773
    Noninterest-bearing deposits $352,663
    Interest-bearing deposits $1,084,686
    Retail deposits $1,350,171
    IRAs and Keogh plan accounts $44,439
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,766,499
    Cash & Balances due from depository institutions $59,234
    Interest-bearing balances $13,187
    Total securities $138,022
    Federal funds sold & reverse repurchase $12,291
    Net loans and leases $1,425,160
    Loan and leases loss allowance $18,469
    Trading account assets $0
    Bank premises and fixed assets $27,590
    Other real estate owned $1,309
    Goodwill and other intangibles $36,011
    All other assets $66,882

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,766,499
    Total Liabilities $1,551,264
    Total deposits $1,437,349
    Interest-bearing deposits $1,084,686
    Deposits held in domestic offices $1,437,349
    % insured (estimated) $70
    Federal funds purchased and repurchase agreements $84,883
    Trading liabilities $0
    Other borrowed funds $9,225
    Subordinated debt $0
    All other liabilities $19,807

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,425,160
    Loan and leases loss allowance $18,469
    Total loans and leases (domestic) $1,443,629
    All real estate loans $917,059
    Real estate loans in domestic offices $917,059
    Construction and development loans $80,246
    Residential 1-4 family construction $30,129
    Other construction, all land development and other land $50,117
    Loans secured by nonfarm nonresidential properties $393,359
    Nonfarm nonresidential secured by owner-occupied properties $180,723
    Commercial real estate & other non-farm, non-residential $212,636
    Multifamily residential real estate $53,310
    1-4 family residential loans $292,785
    Farmland loans $97,359
    Loans held in foreign offices $0
    Farm loans $47,264
    Commercial and industrial loans $357,818
    To non-U.S. addressees $0
    Loans to individuals $42,094
    Credit card loans $17,886
    Related Plans $2,189
    Consumer Auto Loans $16,178
    Other loans to individuals $5,841
    All other loans & leases $79,836
    Loans to foreign governments and official institutions $0
    Other loans $2,306
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $3,932
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $452
    Non 1-4 family restructured loans & leases $449
    Total loans and leases (foreign) $0

    Merchants Bank had $1,425,160,000 of loans outstanding in 2018. $917,059,000 of loans were in real estate loans. $80,246,000 of loans were in development loans. $53,310,000 of loans were in multifamily mortgage loans. $292,785,000 of loans were in 1-4 family mortgage loans. $47,264,000 of loans were in farm loans. $17,886,000 of loans were in credit card loans. $16,178,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 625 $145,802 $233,283
    Nonfarm, nonresidential loans - <$100k 140 $7,109 $50,779
    Nonfarm, nonresidential loans - $100-250k 223 $30,064 $134,816
    Nonfarm, nonresidential loans - $250k-1MM 262 $108,629 $414,615
    Commercial & Industrial, US addressed loans - <$1MM 1,431 $115,091 $80,427
    Commercial & Industrial, US addressed loans - <$100k 931 $24,238 $26,034
    Commercial & Industrial, US addressed loans - $100-250k 303 $30,285 $99,950
    Commercial & Industrial, US addressed loans - $250k-1MM 197 $60,568 $307,452
    Farmland loans - <$1MM 333 $51,536 $154,763
    Farmland loans - <$100k 87 $4,228 $48,598
    Farmland loans - $100-250k 158 $21,205 $134,209
    Farmland loans - $250k-1MM 88 $26,103 $296,625
    Agriculture operations loans - <$1MM 532 $26,847 $50,464
    Agriculture operations loans - <$100k 399 $9,075 $22,744
    Agriculture operations loans - $100-250k 98 $9,903 $101,051
    Agriculture operations loans - $250k-1MM 35 $7,869 $224,829