Merchants Bank Mortgage Rates, Fees & Info
Winona, MNLEI: 549300OZIFHR7THILC90
Tax ID: 41-0632402
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Bank Data
Review & Overview
Merchants Bank is a smaller bank specializing in Home Purchase and Refi 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 75 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 an above 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 4.26% | 4/21/24 |
| 30 Year Conventional Purchase | 6.41% | 4/21/24 |
| 30 Year Conventional Refi | 6.37% | 4/21/24 |
| 30 Year Cash-out Refi | 6.57% | 4/21/24 |
| 30 Year FHA Purchase | 7.29% | 4/21/24 |
| 30 Year FHA Refi | 6.27% | 4/21/24 |
| 30 Year VA Purchase | 5.87% | 4/21/24 |
| 30 Year USDA Purchase | 6.55% | 4/21/24 |
| 15 Year Conventional Purchase | 5.72% | 4/21/24 |
| 15 Year Conventional Refi | 5.86% | 4/21/24 |
| 15 Year Cash-out Refi | 5.86% | 4/21/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
3,201Origination Dollar Volume (All Markets)
$578,985,000Employee count
398Awards
Merchants Bank - 2019
Merchants Bank is a 2019 , due to their low .
For 2019, less than of lenders were eligible for this award.
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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) | 621 | $131,055,000 | $211,039 | $3,844 | 3.67% |
| Winona, MN (FHA|USDA|VA) | 578 | $74,190,000 | $128,356 | $3,143 | 3.74% |
| Outside of Metro Areas | 440 | $72,490,000 | $164,750 | $3,115 | 3.93% |
| LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) | 354 | $65,840,000 | $185,989 | $1,834 | 3.93% |
| ROCHESTER, MN (FHA|USDA|VA) | 374 | $58,770,000 | $157,139 | $3,410 | 3.61% |
| Fergus Falls, MN (FHA|USDA|VA) | 159 | $33,515,000 | $210,786 | $3,556 | 3.68% |
| Red Wing, MN (FHA|USDA|VA) | 167 | $28,275,000 | $169,311 | $4,209 | 3.71% |
| EAU CLAIRE, WI (FHA|USDA|VA) | 78 | $22,980,000 | $294,615 | $1,667 | 4.10% |
| MANKATO, MN (FHA|USDA|VA) | 30 | $9,260,000 | $308,667 | $3,446 | 4.01% |
| ROCKFORD, IL (FHA|USDA|VA) | 43 | $8,735,000 | $203,140 | $1,700 | 3.69% |
| DULUTH, MN-WI (FHA|USDA|VA) | 45 | $7,655,000 | $170,111 | $3,642 | 4.19% |
| Brainerd, MN (FHA|USDA|VA) | 41 | $7,515,000 | $183,293 | $3,726 | 3.74% |
| GRAND FORKS, ND-MN (FHA|USDA|VA) | 31 | $6,545,000 | $211,129 | $3,966 | 3.73% |
| Marshall, MN (FHA|USDA|VA) | 41 | $6,515,000 | $158,902 | $2,779 | 3.96% |
| Faribault-Northfield, MN (FHA|USDA|VA) | 26 | $5,510,000 | $211,923 | $3,668 | 3.55% |
| Alexandria, MN (FHA|USDA|VA) | 22 | $5,350,000 | $243,182 | $3,340 | 3.69% |
| FARGO, ND-MN (FHA|USDA|VA) | 21 | $4,685,000 | $223,095 | $4,580 | 3.89% |
| ST. CLOUD, MN (FHA|USDA|VA) | 12 | $2,930,000 | $244,167 | $2,960 | 4.01% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 7 | $1,685,000 | $240,714 | $3,082 | 3.42% |
| Willmar, MN (FHA|USDA|VA) | 7 | $1,625,000 | $232,143 | $3,079 | 4.03% |
| Owatonna, MN (FHA|USDA|VA) | 10 | $1,390,000 | $139,000 | $3,882 | 3.99% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 2 | $1,160,000 | $580,000 | $8,522 | 3.53% |
| BISMARCK, ND (FHA|USDA|VA) | 5 | $1,125,000 | $225,000 | $2,679 | 3.70% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 4 | $1,100,000 | $275,000 | $6,765 | 3.74% |
| APPLETON, WI (FHA|USDA|VA) | 3 | $1,095,000 | $365,000 | $1,610 | 3.78% |
| Mason City, IA (FHA|USDA|VA) | 5 | $865,000 | $173,000 | $3,070 | 3.88% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $850,000 | $425,000 | $3,553 | 4.15% |
| Bemidji, MN (FHA|USDA|VA) | 4 | $820,000 | $205,000 | $3,485 | 4.21% |
| Menomonie, WI (FHA|USDA|VA) | 4 | $780,000 | $195,000 | $3,670 | 3.53% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $3,963 | 3.53% |
| Austin, MN (FHA|USDA|VA) | 4 | $740,000 | $185,000 | $3,400 | 3.31% |
| JANESVILLE-BELOIT, WI (FHA|USDA|VA) | 3 | $685,000 | $228,333 | $1,781 | 3.86% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 2 | $650,000 | $325,000 | $2,933 | 3.03% |
| WAUSAU-WESTON, WI (FHA|USDA|VA) | 3 | $625,000 | $208,333 | $3,367 | 4.96% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $4,038 | 3.40% |
| Baraboo, WI (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $0 | 6.00% |
| Fernley, NV (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $8,339 | 3.71% |
| Freeport, IL (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $2,273 | 3.03% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $8,548 | 3.90% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $2,959 | 3.34% |
| New Ulm, MN (FHA|USDA|VA) | 3 | $415,000 | $138,333 | $3,456 | 3.57% |
| Fort Madison-Keokuk, IA-IL-MO (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $2,151 | 4.46% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $0 | 4.65% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $732 | 4.28% |
| Steamboat Springs, CO (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $4,438 | 3.50% |
| STAUNTON, VA (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $6,456 | 3.65% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $4,109 | 4.28% |
| RAPID CITY, SD (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $5,500 | 3.78% |
| Hutchinson, MN (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $3,072 | 4.40% |
| MADISON, WI (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $1,906 | 3.90% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $6,300 | 3.40% |
| Grand Rapids, MN (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $5,286 | 3.78% |
| Dickinson, ND (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $2,300 | 3.15% |
| Dixon, IL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $1,689 | 3.03% |
| Breckenridge, CO (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,118 | 2.78% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,838 | 2.90% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,471 | 4.28% |
| Albert Lea, MN (FHA|USDA|VA) | 2 | $220,000 | $110,000 | $3,064 | 4.21% |
| Marinette, WI-MI (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $861 | 3.15% |
| Rochelle, IL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $1,529 | 3.40% |
| Brookings, SD (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,316 | 4.28% |
| Jamestown, ND (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,710 | 4.15% |
| Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,966 | 3.90% |
| FOND DU LAC, WI (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,848 | 3.28% |
| SHEBOYGAN, WI (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,037 | 3.90% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,690 | 3.40% |
| TOLEDO, OH (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,035 | 4.53% |
| Kalispell, MT (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,987 | 2.65% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $1,528 | 3.53% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 4.90% |
| SIOUX FALLS, SD (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,265 | 3.65% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,381 | 3.40% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,430 | 4.90% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $2,516 | 4.15% |
| Enterprise, AL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $2,217 | 4.10% |
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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Product Mix
For 2019, Merchants Bank's most frequently originated type of loan was Conventional, with 2,417 originations. Their 2nd most popular type was HELOC, with 727 originations.
Loan Reason
For 2019, Merchants Bank's most frequently cited loan purpose was Home Purchase, with 1,332 originations. The 2nd most popular reason was Refi, with 908 originations.
Loan Duration/Length
For 2019, Merchants Bank's most frequently cited loan duration was 30 Year, with 2,395 originations. The 2nd most popular length was 15 Year, with 448 originations.
Origination Fees/Closing Costs
Merchants Bank's average total fees were $3,376, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 798 originations.
Interest Rates
During 2019, Merchants Bank's average interest rate for loans was 3.76%, while their most frequently originated rate bucket for loans was 3-4%, with 1,450 originations.
Loan Sizing
2019 saw Merchants Bank place emphasis on $100k-200k loans with 1,110 originations, totaling $165,040,000 in origination value.
Applicant Income
Merchants Bank lent most frequently to those with incomes in the $100k-150k range, with 729 originations. The second most popular income band? $50k-75k, with 676 originations.
Applicant Debt to Income Ratio
Merchants Bank lent most frequently to those with DTI ratios of 20-30%, with 863 originations. The next most common DTI ratio? 30-36%, with 628 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.08%
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 origination92.10%
Merchants Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 3,201 | $578,985,000 | $180,876 |
Occupancy Type Mix
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MORGAN STANLEY & CO. LLC | Conventional home mortgage | Closing on a mortgage | 1 | 8.3% |
| MORGAN STANLEY & CO. LLC | Conventional home mortgage | Incorrect information on your report | 1 | 8.3% |
| MORGAN STANLEY & CO. LLC | Conventional home mortgage | Struggling to pay mortgage | 3 | 25.0% |
| MORGAN STANLEY & CO. LLC | Conventional home mortgage | Trouble during payment process | 6 | 50.0% |
| MORGAN STANLEY & CO. LLC | Other type of mortgage | Struggling to pay mortgage | 1 | 8.3% |
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 | $384,838 |
| Merchants Bank, National Association | 101 Jessie Street West Rushford, MN 55971 | Full Service B&M | $46,556 |
| Merchants Bank, National Association | 1130 Whitewater Avenue St. Charles, MN 55972 | Full Service B&M | $59,964 |
| Merchants Bank, National Association | 115 West Washington Street Caledonia, MN 55921 | Full Service B&M | $53,704 |
| Merchants Bank, National Association | 118 Parkway Avenue North Lanesboro, MN 55949 | Full Service B&M | $45,453 |
| Merchants Bank, National Association | 126 West Main Street Spring Grove, MN 55974 | Full Service B&M | $35,938 |
| Merchants Bank, National Association | 15055 Chippendale Avenue South Rosemount, MN 55068 | Full Service B&M | $39,045 |
| Merchants Bank, National Association | 1525 Vermillion Street Hastings, MN 55033 | Full Service B&M | $56,280 |
| Merchants Bank, National Association | 1600 Greenview Dr Sw Rochester, MN 55902 | Full Service B&M | $43,414 |
| Merchants Bank, National Association | 18550 Joplin Avenue Lakeville, MN 55044 | Full Service B&M | $52,602 |
| Merchants Bank, National Association | 20150 Highview Avenue Lakeville, MN 55044 | Full Service B&M | $81 |
| Merchants Bank, National Association | 23280 Main Street Hampton, MN 55031 | Full Service B&M | $23,266 |
| Merchants Bank, National Association | 2728 Mall Drive Eau Claire, WI 54701 | Full Service B&M | $73,160 |
| Merchants Bank, National Association | 2835 South Service Drive Red Wing, MN 55066 | Full Service B&M | $73,212 |
| Merchants Bank, National Association | 300 West Main Street Cannon Falls, MN 55009 | Full Service B&M | $99,891 |
| Merchants Bank, National Association | 3140 Market Place Onalaska, WI 54650 | Full Service B&M | $91,577 |
| Merchants Bank, National Association | 316 Main Street La Crescent, MN 55947 | Full Service B&M | $83,389 |
| Merchants Bank, National Association | 3586 55th Street Nw Rochester, MN 55901 | Full Service B&M | $63,744 |
| Merchants Bank, National Association | 4124 Sixth Street-Goodview Winona, MN 55987 | Full Service B&M | $21,492 |
| Merchants Bank, National Association | 627 Mankato Avenue Winona, MN 55987 | Full Service B&M | $18,801 |
| Merchants Bank, National Association | 7200 East Douglas Point Road South Cottage Grove, MN 55016 | Full Service B&M | $50,432 |
| Merchants Bank, National Association | 7300 147th Street West, Suite 100 Apple Valley, MN 55124 | Full Service B&M | $61,723 |
For 2019, Merchants Bank had 22 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $84,628 |
| Net interest income | $72,821 |
| Total noninterest income | $17,534 |
| Gross Fiduciary activities income | $1,630 |
| Service charges on deposit accounts | $2,521 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $13,383 |
| Pre-tax net operating income | $31,084 |
| Securities gains (or losses, -) | $12 |
| Income before extraordinary items | $22,364 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $22,364 |
| Minority interest net income | $0 |
| Net income | $22,364 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $22,354 |
Merchants Bank's gross interest income from loans was $84,628,000.
Merchants Bank's net interest income from loans was $72,821,000.
Merchants Bank's fee based income from loans was $2,521,000.
Merchants Bank's net income from loans was $22,364,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $11,807 |
| Provision for credit losses | $2,180 |
| Total noninterest expense | $57,091 |
| Salaries and employee benefits | $36,073 |
| Premises and equipment expense | $3,411 |
| Additional noninterest expense | $17,607 |
| Applicable income taxes | $8,732 |
| Net charge-offs | $1,435 |
| Cash dividends | $40,450 |
Merchants Bank's interest expense for loans was $11,807,000.
Merchants Bank's payroll and benefits expense were $36,073,000.
Merchants Bank's property, plant and equipment expenses $3,411,000.
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 | 0.0% |
| 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 | 0.1% |
| 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 | $1,611,642 |
| Deposits held in domestic offices | $1,611,642 |
| Deposits by Individuals, partnerships, and corporations | $1,548,822 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $62,094 |
| Deposits by Commercial banks and other depository institutions in U.S. | $726 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $447,680 |
| Demand deposits | $262,526 |
| Nontransaction accounts | $1,163,962 |
| Money market deposit accounts (MMDAs) | $391,333 |
| Other savings deposits (excluding MMDAs) | $398,499 |
| Total time deposits | $374,130 |
| Total time and savings deposits | $1,349,116 |
| Noninterest-bearing deposits | $376,655 |
| Interest-bearing deposits | $1,234,987 |
| Retail deposits | $1,515,151 |
| IRAs and Keogh plan accounts | $47,920 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $1,864,126 |
| Cash & Balances due from depository institutions | $49,760 |
| Interest-bearing balances | $21,011 |
| Total securities | $125,867 |
| Federal funds sold & reverse repurchase | $377 |
| Net loans and leases | $1,558,665 |
| Loan and leases loss allowance | $19,214 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $35,611 |
| Other real estate owned | $442 |
| Goodwill and other intangibles | $36,791 |
| All other assets | $56,613 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $1,864,126 |
| Total Liabilities | $1,664,204 |
| Total deposits | $1,611,642 |
| Interest-bearing deposits | $1,234,987 |
| Deposits held in domestic offices | $1,611,642 |
| % insured (estimated) | $75 |
| Federal funds purchased and repurchase agreements | $9,454 |
| Trading liabilities | $0 |
| Other borrowed funds | $20,999 |
| Subordinated debt | $0 |
| All other liabilities | $22,109 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $1,558,665 |
| Loan and leases loss allowance | $19,214 |
| Total loans and leases (domestic) | $1,577,879 |
| All real estate loans | $1,016,456 |
| Real estate loans in domestic offices | $1,016,456 |
| Construction and development loans | $87,117 |
| Residential 1-4 family construction | $33,148 |
| Other construction, all land development and other land | $53,969 |
| Loans secured by nonfarm nonresidential properties | $435,357 |
| Nonfarm nonresidential secured by owner-occupied properties | $187,022 |
| Commercial real estate & other non-farm, non-residential | $248,335 |
| Multifamily residential real estate | $61,709 |
| 1-4 family residential loans | $326,693 |
| Farmland loans | $105,580 |
| Loans held in foreign offices | $0 |
| Farm loans | $46,862 |
| Commercial and industrial loans | $389,329 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $43,716 |
| Credit card loans | $18,200 |
| Related Plans | $2,435 |
| Consumer Auto Loans | $17,693 |
| Other loans to individuals | $5,388 |
| All other loans & leases | $81,986 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $1,308 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $2,325 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $301 |
| Non 1-4 family restructured loans & leases | $299 |
| Total loans and leases (foreign) | $0 |
Merchants Bank had $1,558,665,000 of loans outstanding in 2019. $1,016,456,000 of loans were in real estate loans. $87,117,000 of loans were in development loans. $61,709,000 of loans were in multifamily mortgage loans. $326,693,000 of loans were in 1-4 family mortgage loans. $46,862,000 of loans were in farm loans. $18,200,000 of loans were in credit card loans. $17,693,000 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 | 626 | $147,024 | $234,863 |
| Nonfarm, nonresidential loans - <$100k | 144 | $7,295 | $50,660 |
| Nonfarm, nonresidential loans - $100-250k | 214 | $28,008 | $130,879 |
| Nonfarm, nonresidential loans - $250k-1MM | 268 | $111,721 | $416,869 |
| Commercial & Industrial, US addressed loans - <$1MM | 1,413 | $115,764 | $81,928 |
| Commercial & Industrial, US addressed loans - <$100k | 921 | $24,585 | $26,694 |
| Commercial & Industrial, US addressed loans - $100-250k | 287 | $28,213 | $98,303 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 205 | $62,966 | $307,151 |
| Farmland loans - <$1MM | 346 | $52,441 | $151,564 |
| Farmland loans - <$100k | 91 | $4,463 | $49,044 |
| Farmland loans - $100-250k | 164 | $21,454 | $130,817 |
| Farmland loans - $250k-1MM | 91 | $26,524 | $291,473 |
| Agriculture operations loans - <$1MM | 478 | $25,029 | $52,362 |
| Agriculture operations loans - <$100k | 348 | $8,218 | $23,615 |
| Agriculture operations loans - $100-250k | 92 | $9,287 | $100,946 |
| Agriculture operations loans - $250k-1MM | 38 | $7,524 | $198,000 |