Merchants Bank Of Indiana Mortgage Rates, Fees & Info
Carmel, INLEI: 549300WRDGBHKR1BXL98
Tax ID: 35-0352710
5 stars
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Bank Data
Overview
Merchants Bank Of Indiana is a small bank specializing in Refi and Home Purchase loans. Merchants Bank Of Indiana 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.) Their top markets include Indianapolis, Chicago, St. Louis, Providence, and Cincinnati among others. Merchants Bank Of Indiana has an above average approval rate for mortages when compared nationally. They have an average pick rate when compared to the same sample of other lendors. Merchants Bank Of Indiana is typically a low fee lendor.Originations
3,602Origination Dollar Volume (All Markets)
$2,789,120,000Employee count
451Awards
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Merchants Bank of Indiana - 2021
Merchants Bank of Indiana is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
Merchants Bank Of Indiana's average 30 year fixed rate mortgage of loans were
2.97%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.18%.
Relative Fees
Merchants Bank Of Indiana's average total fees for a 30 year fixed rate
mortgage are $3,293.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 477 | $413,485,000 | $866,845 | $2,044 | 3.03% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 258 | $245,380,000 | $951,085 | $2,830 | 2.75% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 563 | $238,475,000 | $423,579 | $1,512 | 2.81% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 487 | $142,875,000 | $293,378 | $2,973 | 2.75% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 26 | $96,980,000 | $3,730,000 | $3,951 | 3.19% |
| FORT WAYNE, IN (FHA|USDA|VA) | 12 | $96,340,000 | $8,028,333 | $1,998 | 3.25% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 19 | $68,565,000 | $3,608,684 | $5,767 | 3.09% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 171 | $66,125,000 | $386,696 | $3,768 | 2.68% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 48 | $65,580,000 | $1,366,250 | $3,895 | 2.63% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 10 | $62,210,000 | $6,221,000 | $4,277 | 2.66% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 15 | $61,575,000 | $4,105,000 | $6,446 | 2.86% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 28 | $60,630,000 | $2,165,357 | $5,467 | 2.70% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 1 | $54,255,000 | $54,255,000 | $0 | 4.00% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 121 | $45,975,000 | $379,959 | $4,118 | 2.78% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 4 | $43,710,000 | $10,927,500 | $14,195 | 3.88% |
| GRANTS PASS, OR (FHA|USDA|VA) | 2 | $36,000,000 | $18,000,000 | $0 | 6.63% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 15 | $35,485,000 | $2,365,667 | $4,034 | 3.12% |
| COLUMBUS, OH (FHA|USDA|VA) | 125 | $33,725,000 | $269,800 | $2,937 | 2.90% |
| EVANSVILLE, IN-KY (FHA|USDA|VA) | 6 | $33,520,000 | $5,586,667 | $0 | 3.44% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 55 | $31,635,000 | $575,182 | $4,645 | 2.74% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 3 | $31,605,000 | $10,535,000 | $2,721 | 3.21% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 5 | $28,895,000 | $5,779,000 | $3,779 | 2.71% |
| BLOOMINGTON, IN (FHA|USDA|VA) | 7 | $26,745,000 | $3,820,714 | $3,729 | 3.27% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 6 | $26,240,000 | $4,373,333 | $6,983 | 3.10% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 11 | $25,435,000 | $2,312,273 | $6,785 | 2.89% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 2 | $25,220,000 | $12,610,000 | $8,080 | 2.81% |
| CUMBERLAND, MD-WV (FHA|USDA|VA) | 1 | $25,005,000 | $25,005,000 | $0 | 3.60% |
| VALDOSTA, GA (FHA|USDA|VA) | 1 | $22,575,000 | $22,575,000 | $0 | 3.05% |
| RAPID CITY, SD (FHA|USDA|VA) | 2 | $20,430,000 | $10,215,000 | $0 | 3.75% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 3 | $19,235,000 | $6,411,667 | $7,846 | 3.00% |
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 4 | $19,150,000 | $4,787,500 | $1,108 | 3.29% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 10 | $19,100,000 | $1,910,000 | $6,206 | 2.81% |
| Outside of Metro Areas | 59 | $17,675,000 | $299,576 | $3,293 | 2.97% |
| LUBBOCK, TX (FHA|USDA|VA) | 1 | $16,375,000 | $16,375,000 | $0 | 3.25% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 51 | $16,175,000 | $317,157 | $3,895 | 2.70% |
| ALBANY, GA (FHA|USDA|VA) | 3 | $15,815,000 | $5,271,667 | $0 | 4.13% |
| BOWLING GREEN, KY (FHA|USDA|VA) | 3 | $15,655,000 | $5,218,333 | $7,907 | 3.63% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 26 | $15,610,000 | $600,385 | $4,090 | 2.73% |
| WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) | 3 | $14,845,000 | $4,948,333 | $0 | 3.05% |
| KOKOMO, IN (FHA|USDA|VA) | 5 | $14,825,000 | $2,965,000 | $1,502 | 3.74% |
| CANTON-MASSILLON, OH (FHA|USDA|VA) | 61 | $14,655,000 | $240,246 | $3,037 | 2.91% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 3 | $14,265,000 | $4,755,000 | $7,376 | 3.26% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 1 | $14,005,000 | $14,005,000 | $0 | 5.50% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 40 | $13,410,000 | $335,250 | $3,991 | 2.73% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 3 | $13,085,000 | $4,361,667 | $9,385 | 3.16% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 5 | $12,975,000 | $2,595,000 | $2,450 | 3.13% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 43 | $12,565,000 | $292,209 | $4,840 | 2.77% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 53 | $12,505,000 | $235,943 | $5,629 | 2.79% |
| ALEXANDRIA, LA (FHA|USDA|VA) | 49 | $12,235,000 | $249,694 | $3,676 | 2.65% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 33 | $12,095,000 | $366,515 | $3,560 | 2.83% |
| Marion, IN (FHA|USDA|VA) | 4 | $11,680,000 | $2,920,000 | $0 | 3.72% |
| LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) | 5 | $11,035,000 | $2,207,000 | $6,100 | 3.18% |
| PITTSBURGH, PA (FHA|USDA|VA) | 37 | $10,985,000 | $296,892 | $4,542 | 3.03% |
| MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) | 2 | $10,720,000 | $5,360,000 | $6,834 | 2.83% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 7 | $10,345,000 | $1,477,857 | $4,153 | 2.98% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 5 | $10,145,000 | $2,029,000 | $3,061 | 3.23% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 3 | $9,405,000 | $3,135,000 | $3,520 | 2.54% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 30 | $9,380,000 | $312,667 | $4,055 | 2.54% |
| IOWA CITY, IA (FHA|USDA|VA) | 1 | $9,075,000 | $9,075,000 | $0 | 3.50% |
| COLUMBIA, MO (FHA|USDA|VA) | 2 | $8,650,000 | $4,325,000 | $2,008 | 3.06% |
| BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) | 1 | $8,405,000 | $8,405,000 | $0 | 3.50% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 11 | $8,235,000 | $748,636 | $6,016 | 2.99% |
| SIOUX FALLS, SD (FHA|USDA|VA) | 2 | $7,200,000 | $3,600,000 | $0 | 3.75% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 4 | $7,190,000 | $1,797,500 | $5,291 | 2.71% |
| MUNCIE, IN (FHA|USDA|VA) | 6 | $6,950,000 | $1,158,333 | $2,515 | 3.18% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 18 | $6,330,000 | $351,667 | $5,228 | 2.78% |
| BECKLEY, WV (FHA|USDA|VA) | 2 | $6,130,000 | $3,065,000 | $0 | 3.25% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 13 | $5,785,000 | $445,000 | $4,813 | 2.49% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 14 | $4,770,000 | $340,714 | $3,698 | 2.72% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 14 | $4,680,000 | $334,286 | $3,090 | 2.72% |
| MONROE, LA (FHA|USDA|VA) | 18 | $4,470,000 | $248,333 | $4,360 | 2.74% |
| LAKE CHARLES, LA (FHA|USDA|VA) | 16 | $4,450,000 | $278,125 | $5,202 | 2.77% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 22 | $4,260,000 | $193,636 | $3,227 | 3.26% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 10 | $4,040,000 | $404,000 | $3,328 | 2.56% |
| LONGVIEW, TX (FHA|USDA|VA) | 1 | $4,035,000 | $4,035,000 | $0 | 3.25% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 15 | $3,905,000 | $260,333 | $4,995 | 2.66% |
| AKRON, OH (FHA|USDA|VA) | 19 | $3,625,000 | $190,789 | $3,383 | 2.78% |
| SYRACUSE, NY (FHA|USDA|VA) | 2 | $3,410,000 | $1,705,000 | $0 | 3.63% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $3,375,000 | $3,375,000 | $0 | 3.55% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 3 | $2,975,000 | $991,667 | $3,358 | 3.46% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 4 | $2,890,000 | $722,500 | $5,421 | 2.92% |
| Salem, OH (FHA|USDA|VA) | 22 | $2,830,000 | $128,636 | $3,130 | 2.82% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 8 | $2,770,000 | $346,250 | $3,725 | 2.73% |
| VALLEJO, CA (FHA|USDA|VA) | 9 | $2,715,000 | $301,667 | $3,110 | 2.74% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 3 | $2,535,000 | $845,000 | $3,331 | 2.96% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 14 | $2,500,000 | $178,571 | $3,302 | 2.88% |
| MADISON, WI (FHA|USDA|VA) | 11 | $2,435,000 | $221,364 | $1,879 | 2.83% |
| STOCKTON, CA (FHA|USDA|VA) | 8 | $2,350,000 | $293,750 | $3,258 | 2.95% |
| NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) | 6 | $2,340,000 | $390,000 | $6,547 | 2.73% |
| Warsaw, IN (FHA|USDA|VA) | 6 | $2,320,000 | $386,667 | $2,250 | 2.79% |
| BOISE CITY, ID (FHA|USDA|VA) | 7 | $2,305,000 | $329,286 | $5,338 | 2.66% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 6 | $2,010,000 | $335,000 | $5,623 | 2.81% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 5 | $1,995,000 | $399,000 | $3,566 | 3.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 6 | $1,880,000 | $313,333 | $3,805 | 2.90% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 4 | $1,820,000 | $455,000 | $2,981 | 2.75% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 5 | $1,695,000 | $339,000 | $3,544 | 2.68% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 5 | $1,635,000 | $327,000 | $3,105 | 2.58% |
| NAPA, CA (FHA|USDA|VA) | 3 | $1,585,000 | $528,333 | $4,058 | 2.83% |
| BATON ROUGE, LA (FHA|USDA|VA) | 5 | $1,585,000 | $317,000 | $6,269 | 2.58% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 6 | $1,520,000 | $253,333 | $6,011 | 2.69% |
| SALINAS, CA (FHA|USDA|VA) | 4 | $1,500,000 | $375,000 | $3,367 | 2.53% |
| MODESTO, CA (FHA|USDA|VA) | 4 | $1,470,000 | $367,500 | $4,166 | 2.78% |
| Richmond, IN (FHA|USDA|VA) | 15 | $1,455,000 | $97,000 | $1,432 | 3.58% |
| COLUMBUS, IN (FHA|USDA|VA) | 4 | $1,390,000 | $347,500 | $2,321 | 2.88% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 3 | $1,375,000 | $458,333 | $4,464 | 2.63% |
| FORT COLLINS, CO (FHA|USDA|VA) | 4 | $1,320,000 | $330,000 | $3,570 | 2.81% |
| WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) | 11 | $1,315,000 | $119,545 | $3,191 | 2.70% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 4 | $1,310,000 | $327,500 | $3,975 | 2.50% |
| Breckenridge, CO (FHA|USDA|VA) | 2 | $1,300,000 | $650,000 | $0 | 3.00% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 4 | $1,290,000 | $322,500 | $4,527 | 2.94% |
| Logansport, IN (FHA|USDA|VA) | 1 | $1,225,000 | $1,225,000 | $0 | 3.25% |
| REDDING, CA (FHA|USDA|VA) | 4 | $1,180,000 | $295,000 | $2,939 | 2.88% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 7 | $1,175,000 | $167,857 | $5,319 | 2.89% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 3 | $1,125,000 | $375,000 | $3,838 | 3.13% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 4 | $1,060,000 | $265,000 | $3,434 | 2.59% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 2 | $1,040,000 | $520,000 | $3,685 | 2.75% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 3 | $1,015,000 | $338,333 | $3,467 | 2.29% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 3 | $965,000 | $321,667 | $6,152 | 2.83% |
| Edwards, CO (FHA|USDA|VA) | 3 | $965,000 | $321,667 | $12,195 | 2.63% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 3 | $955,000 | $318,333 | $3,479 | 2.79% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 5 | $945,000 | $189,000 | $7,421 | 2.85% |
| COLUMBIA, SC (FHA|USDA|VA) | 2 | $860,000 | $430,000 | $6,374 | 2.63% |
| TUCSON, AZ (FHA|USDA|VA) | 3 | $825,000 | $275,000 | $3,746 | 2.83% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 3 | $735,000 | $245,000 | $6,903 | 2.58% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 2 | $730,000 | $365,000 | $4,936 | 2.31% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 2 | $710,000 | $355,000 | $5,732 | 2.81% |
| DeRidder, LA (FHA|USDA|VA) | 3 | $705,000 | $235,000 | $5,649 | 3.13% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 4 | $680,000 | $170,000 | $8,479 | 2.97% |
| JANESVILLE-BELOIT, WI (FHA|USDA|VA) | 3 | $675,000 | $225,000 | $873 | 3.21% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 2 | $670,000 | $335,000 | $3,976 | 2.69% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $6,420 | 3.00% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $4,406 | 2.94% |
| Brainerd, MN (FHA|USDA|VA) | 1 | $595,000 | $595,000 | $3,914 | 3.00% |
| EL CENTRO, CA (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $6,702 | 2.88% |
| YUBA CITY, CA (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $5,839 | 3.00% |
| TOLEDO, OH (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $6,258 | 2.88% |
| Jackson, WY-ID (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $4,512 | 2.75% |
| Albertville, AL (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $6,779 | 2.25% |
| LAFAYETTE, LA (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $4,188 | 2.75% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $4,731 | 2.44% |
| FRESNO, CA (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $2,966 | 2.69% |
| Watertown-Fort Atkinson, WI (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $1,310 | 2.88% |
| HAMMOND, LA (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $5,528 | 2.50% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $3,166 | 2.38% |
| MONROE, MI (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $10,984 | 2.88% |
| BISMARCK, ND (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $7,057 | 2.50% |
| CORVALLIS, OR (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $9,587 | 2.88% |
| Jennings, LA (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $4,563 | 3.25% |
| Opelousas, LA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $3,332 | 3.25% |
| Farmington, MO (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $1,041 | 2.63% |
| MONTGOMERY, AL (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $11,381 | 3.13% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $2,575 | 2.56% |
| SPRINGFIELD, OH (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $3,128 | 3.75% |
| Greenville, OH (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $0 | 4.25% |
| YAKIMA, WA (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $2,174 | 3.00% |
| Nogales, AZ (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $4,710 | 2.50% |
| Brookings, OR (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 3.38% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $3,169 | 3.25% |
| FARMINGTON, NM (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $7,352 | 2.13% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $3,930 | 2.50% |
| LYNCHBURG, VA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $5,072 | 2.88% |
| CAPE GIRARDEAU, MO-IL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $2,815 | 2.88% |
| BEND, OR (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $11,044 | 2.63% |
| LAS CRUCES, NM (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $7,467 | 2.63% |
| MADERA, CA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,106 | 2.00% |
| Natchitoches, LA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,292 | 2.50% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $2,745 | 3.13% |
| BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $7,284 | 2.63% |
| New Philadelphia-Dover, OH (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $4,050 | 2.99% |
| VISALIA, CA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,076 | 2.50% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $4,421 | 2.50% |
| Easton, MD (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,590 | 2.63% |
| EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $10,323 | 3.00% |
| Athens, OH (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,245 | 3.00% |
| Alamogordo, NM (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $7,913 | 2.88% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $9,040 | 2.75% |
| ROCHESTER, MN (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $4,711 | 2.75% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $6,391 | 3.00% |
| HATTIESBURG, MS (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $10,001 | 2.75% |
| WENATCHEE, WA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $2,097 | 3.13% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $2,939 | 3.13% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,035 | 3.00% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $4,713 | 2.88% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $8,118 | 2.38% |
| ANN ARBOR, MI (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $7,910 | 2.88% |
| SANTA FE, NM (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,786 | 2.50% |
| HARRISONBURG, VA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $2,836 | 3.25% |
| SALEM, OR (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $11,533 | 2.75% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $6,476 | 2.38% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $4,105 | 2.63% |
| TUSCALOOSA, AL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $2,814 | 3.13% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $4,279 | 3.75% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $8,062 | 2.63% |
| Picayune, MS (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $8,123 | 2.50% |
| HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,426 | 3.25% |
| Stillwater, OK (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $6,033 | 2.63% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,696 | 2.50% |
| Eureka-Arcata, CA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $2,981 | 2.88% |
| Arkadelphia, AR (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $10,811 | 2.75% |
| New Castle, IN (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $1,520 | 3.25% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $4,737 | 2.75% |
| LEWISTON-AUBURN, ME (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $5,971 | 2.25% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $8,676 | 2.25% |
| HINESVILLE, GA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $8,848 | 2.25% |
| MORGANTOWN, WV (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $2,180 | 2.75% |
| Albemarle, NC (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $7,800 | 2.25% |
| Meridian, MS (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,630 | 2.25% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $7,370 | 2.50% |
| Holland, MI (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,395 | 2.50% |
| ANCHORAGE, AK (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $9,597 | 2.00% |
| Wooster, OH (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $5,731 | 2.75% |
| Astoria, OR (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $7,084 | 2.50% |
| SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,423 | 2.75% |
| ST. CLOUD, MN (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $1,038 | 2.25% |
| ROCKFORD, IL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $5,653 | 2.88% |
| Jasper, IN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $1,930 | 3.50% |
| Mount Vernon, OH (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,584 | 3.00% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,590 | 3.25% |
| North Wilkesboro, NC (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,762 | 2.63% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,150 | 2.88% |
| MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,679 | 2.75% |
| WICHITA, KS (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $4,160 | 2.38% |
| New Castle, PA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,258 | 2.88% |
| LINCOLN, NE (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,864 | 2.25% |
| FOND DU LAC, WI (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,700 | 2.88% |
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $1,002 | 2.50% |
| Rochelle, IL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,548 | 3.25% |
| Frankfort, IN (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $1,379 | 2.75% |
| Wabash, IN (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $1,509 | 3.13% |
| Bedford, IN (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,534 | 3.00% |
| Angola, IN (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $1,498 | 2.75% |
Merchants Bank Of Indiana's top markets include Indianapolis, Chicago, St. Louis, Providence, and Cincinnati among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 3,576 | $2,784,030,000 | $778,532 | $3,122 | 2.84% |
| FHA | 26 | $5,090,000 | $195,769 | $5,673 | 2.89% |
For the 2021 period, Merchants Bank Of Indiana's most frequently originated loan type of loans were Conventional, with 3,576 originations. Their 2nd most popular type is FHA, with 26 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Refi | 1,812 | $963,220,000 | $531,578 | $2,902 | 2.69% |
| Home Purchase | 952 | $1,373,570,000 | $1,442,826 | $3,188 | 3.03% |
| Cash Out Refi | 790 | $227,120,000 | $287,494 | $3,634 | 2.92% |
| Home Improvement | 48 | $225,210,000 | $4,691,875 | $0 | 3.67% |
For the 2021, Merchants Bank Of Indiana's most frequently cited loan purpose of loans were Refi, with 1,812 originations. The 2nd most popular reason of loans were Home Purchase, with 952 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 2,271 | $672,905,000 | $296,303 | $3,293 | 2.97% |
| 15 Year | 723 | $180,745,000 | $249,993 | $2,828 | 2.40% |
| 20 Year | 298 | $84,190,000 | $282,517 | $3,163 | 2.68% |
| Other | 196 | $1,319,710,000 | $6,733,214 | $2,009 | 3.27% |
| 10 Year | 68 | $15,100,000 | $222,059 | $2,767 | 2.32% |
| 3 Year | 37 | $409,275,000 | $11,061,486 | $0 | 3.50% |
| 5 Year | 7 | $104,865,000 | $14,980,714 | $0 | 3.59% |
| 1 Year | 2 | $2,330,000 | $1,165,000 | $0 | 3.15% |
For the 2021, Merchants Bank Of Indiana's most frequently cited loan length of loans were 30 Year, with 2,271 originations. The 2nd most popular length of loans were 15 Year, with 723 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 1,478 | $453,930,000 | $307,124 |
| $<1k | 1,353 | $353,145,000 | $261,009 |
| $5k+ | 186 | $58,280,000 | $313,333 |
| $3k-4k | 139 | $37,745,000 | $271,547 |
| $2k-3k | 116 | $30,850,000 | $265,948 |
$3,293 of loans were Merchants Bank Of Indiana's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 1,478 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 1,804 | $681,420,000 | $377,727 |
| <2.5% | 918 | $253,930,000 | $276,612 |
| 3-4% | 842 | $1,739,490,000 | $2,065,903 |
| 4-5% | 33 | $56,195,000 | $1,702,879 |
| 5-6% | 2 | $39,010,000 | $19,505,000 |
| 6-7% | 2 | $13,910,000 | $6,955,000 |
| Over 8% | 1 | $5,165,000 | $5,165,000 |
During 2021, Merchants Bank Of Indiana's average interest rate of loans were 2.97%, while their most frequently originated rate bucket of loans were 2.5-3%, with 1,804 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 1,818 | $516,630,000 | $284,175 | $3,339 | 2.78% |
| $100k-200k | 859 | $134,605,000 | $156,700 | $2,498 | 2.86% |
| $400k-600k | 591 | $283,315,000 | $479,382 | $3,579 | 2.77% |
| $1MM+ | 147 | $1,809,545,000 | $12,309,830 | $0 | 3.56% |
| $100,000 or less | 140 | $10,910,000 | $77,929 | $2,168 | 3.06% |
| $600k-1MM | 47 | $34,115,000 | $725,851 | $3,885 | 3.08% |
2021 saw Merchants Bank Of Indiana place emphasis on $200k-400k loans with 1,818 originations, totaling $516,630,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 894 | $271,700,000 | $303,915 | $3,264 | 2.78% |
| $150k-250k | 730 | $255,290,000 | $349,712 | $3,190 | 2.72% |
| $50k-75k | 585 | $123,515,000 | $211,137 | $3,268 | 2.87% |
| $75k-100k | 540 | $143,970,000 | $266,611 | $3,284 | 2.82% |
| $50k or less | 419 | $66,655,000 | $159,081 | $2,526 | 2.98% |
| $250k+ | 273 | $111,065,000 | $406,832 | $3,036 | 2.71% |
Merchants Bank Of Indiana lent most frequently to those with incomes in the $100k-150k range, with 894 originations. The second most popular income band? $150k-250k, with 730 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 974 | $279,000,000 | $286,448 | $2,956 | 2.77% |
| 30-36% | 604 | $170,580,000 | $282,417 | $3,216 | 2.80% |
| <20% | 476 | $131,200,000 | $275,630 | $2,883 | 2.70% |
| 38% | 131 | $38,435,000 | $293,397 | $3,039 | 2.90% |
| 42% | 117 | $32,065,000 | $274,060 | $3,166 | 2.93% |
| 36% | 116 | $32,540,000 | $280,517 | $3,650 | 2.84% |
| 40% | 114 | $31,040,000 | $272,281 | $2,881 | 2.93% |
| 44% | 111 | $31,865,000 | $287,072 | $3,789 | 2.94% |
| 43% | 109 | $31,415,000 | $288,211 | $3,485 | 2.91% |
| 37% | 101 | $29,425,000 | $291,337 | $3,112 | 2.78% |
| 41% | 98 | $29,190,000 | $297,857 | $3,239 | 2.87% |
| 39% | 91 | $25,255,000 | $277,527 | $3,305 | 2.85% |
| 45% | 88 | $25,920,000 | $294,545 | $3,380 | 2.92% |
| 49% | 79 | $22,755,000 | $288,038 | $2,900 | 2.89% |
| 46% | 78 | $20,250,000 | $259,615 | $3,425 | 2.89% |
| 48% | 70 | $18,720,000 | $267,429 | $3,778 | 2.77% |
| 47% | 65 | $17,715,000 | $272,538 | $3,284 | 2.80% |
| 50-60% | 17 | $4,635,000 | $272,647 | $5,510 | 2.72% |
| >60% | 2 | $190,000 | $95,000 | $0 | 3.63% |
Merchants Bank Of Indiana lent most frequently to those with DTI ratios of 20-30%, with 974 originations. The next most common DTI ratio? 30-36%, with 604 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 161 | $1,816,925,000 | $11,285,248 | $0 | 3.61% |
| White | 2,688 | $759,480,000 | $282,545 | $3,089 | 2.81% |
| Asian | 421 | $114,885,000 | $272,886 | $2,920 | 2.82% |
| Not provided | 244 | $76,110,000 | $311,926 | $3,856 | 2.74% |
| Black | 72 | $17,870,000 | $248,194 | $3,689 | 2.98% |
| American Indian | 7 | $1,985,000 | $283,571 | $5,462 | 2.88% |
| Native Hawaiian | 9 | $1,865,000 | $207,222 | $4,048 | 2.90% |
Approval Rates
Total approvals of all applications98.28%
Merchants Bank Of Indiana has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination93.11%
Merchants Bank Of Indiana has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 3,602 | $2,789,120,000 | $774,325 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3,602 | $2,789,120,000 | $774,325 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 285 | $114,685,000 | $402,404 | $3,067 | 2.63% |
| 40-60% | 911 | $453,475,000 | $497,777 | $3,148 | 2.68% |
| 60-80% | 1,594 | $1,605,610,000 | $1,007,284 | $3,128 | 2.88% |
| 80-100% | 762 | $526,760,000 | $691,286 | $3,190 | 3.00% |
| Over 100% | 1 | $7,205,000 | $7,205,000 | $0 | 3.40% |
| Under 20% | 43 | $78,965,000 | $1,836,395 | $3,233 | 3.59% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Merchants and Medical Credit Corporation, Inc. | Conventional home mortgage | Struggling to pay mortgage | 1 | 100.0% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Merchants Bank of Indiana | 701 E Main St Richmond, IN 47374 | Full Service B&M | $873,345 |
| Merchants Bank of Indiana | 11590 North Meridian Street Carmel, IN 46032 | Full Service B&M | $1,131,786 |
| Merchants Bank of Indiana | 7375 South Us Highway 27 Lynn, IN 47355 | Full Service B&M | $26,494 |
| Merchants Bank of Indiana | 3737 East 96th Street Indianapolis, IN 46240 | Full Service B&M | $670,085 |
| Merchants Bank of Indiana | 410 Monon Blvd. Carmel, IN 46032 | Full Service B&M | $5,144,079 |
| Merchants Bank of Indiana | 6880 South Arba Pike Lynn, IN 47355 | Full Service B&M | $9,997 |
For 2021, Merchants Bank Of Indiana had 6 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $303,023 |
| Net interest income | $274,118 |
| Total noninterest income | $155,116 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $359 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $154,757 |
| Pre-tax net operating income | $304,087 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $226,430 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $226,430 |
| Minority interest net income | $0 |
| Net income | $226,430 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $226,430 |
Merchants Bank Of Indiana's gross interest income from loans was $303,023,000.
Merchants Bank Of Indiana's net interest income from loans was $274,118,000.
Merchants Bank Of Indiana's fee based income from loans was $359,000.
Merchants Bank Of Indiana's net income from loans was $226,430,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $28,905 |
| Provision for credit losses | $4,833 |
| Total noninterest expense | $120,314 |
| Salaries and employee benefits | $83,183 |
| Premises and equipment expense | $6,878 |
| Additional noninterest expense | $30,253 |
| Applicable income taxes | $77,657 |
| Net charge-offs | $2,072 |
| Cash dividends | $33,447 |
Merchants Bank Of Indiana's interest expense for loans was $28,905,000.
Merchants Bank Of Indiana's payroll and benefits expense were $83,183,000.
Merchants Bank Of Indiana's property, plant and equipment expenses $6,878,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 0.0% |
| Real Estate loans | 0.0% |
| Construction & Land Development loans | 0.0% |
| Nonfarm, nonresidential loans | 0.0% |
| 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 | $8,795,024 |
| Deposits held in domestic offices | $8,795,024 |
| Deposits by Individuals, partnerships, and corporations | $7,234,860 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $1,536,461 |
| Deposits by Commercial banks and other depository institutions in U.S. | $23,702 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $4,902,956 |
| Demand deposits | $4,720,802 |
| Nontransaction accounts | $3,892,067 |
| Money market deposit accounts (MMDAs) | $2,548,106 |
| Other savings deposits (excluding MMDAs) | $213,266 |
| Total time deposits | $1,130,697 |
| Total time and savings deposits | $4,074,221 |
| Noninterest-bearing deposits | $636,153 |
| Interest-bearing deposits | $8,158,871 |
| Retail deposits | $6,256,661 |
| IRAs and Keogh plan accounts | $645 |
| Brokered deposits | $2,129,780 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $10,994,199 |
| Cash & Balances due from depository institutions | $1,028,974 |
| Interest-bearing balances | $1,016,523 |
| Total securities | $301,878 |
| Federal funds sold & reverse repurchase | $5,888 |
| Net loans and leases | $9,394,168 |
| Loan and leases loss allowance | $29,560 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $28,575 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $119,002 |
| All other assets | $115,714 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $10,994,199 |
| Total Liabilities | $9,897,172 |
| Total deposits | $8,795,024 |
| Interest-bearing deposits | $8,158,871 |
| Deposits held in domestic offices | $8,795,024 |
| % insured (estimated) | $68 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $1,010,778 |
| Subordinated debt | $0 |
| All other liabilities | $91,370 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $9,394,168 |
| Loan and leases loss allowance | $29,560 |
| Total loans and leases (domestic) | $9,423,728 |
| All real estate loans | $4,847,879 |
| Real estate loans in domestic offices | $4,847,879 |
| Construction and development loans | $655,050 |
| Residential 1-4 family construction | $4,963 |
| Other construction, all land development and other land | $650,087 |
| Loans secured by nonfarm nonresidential properties | $919,246 |
| Nonfarm nonresidential secured by owner-occupied properties | $83,027 |
| Commercial real estate & other non-farm, non-residential | $836,219 |
| Multifamily residential real estate | $2,370,439 |
| 1-4 family residential loans | $867,633 |
| Farmland loans | $35,511 |
| Loans held in foreign offices | $0 |
| Farm loans | $22,839 |
| Commercial and industrial loans | $562,244 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $4,200 |
| Credit card loans | $0 |
| Related Plans | $3,356 |
| Consumer Auto Loans | $640 |
| Other loans to individuals | $204 |
| All other loans & leases | $3,986,566 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $3,936,566 |
| Loans to depository institutions and acceptances of other banks | $50,000 |
| Loans not secured by real estate | $333,877 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $4,059 |
| Non 1-4 family restructured loans & leases | $4,059 |
| Total loans and leases (foreign) | $0 |
Merchants Bank of Indiana had $9,394,168,000 of loans outstanding in 2021. $4,847,879,000 of loans were in real estate loans. $655,050,000 of loans were in development loans. $2,370,439,000 of loans were in multifamily mortgage loans. $867,633,000 of loans were in 1-4 family mortgage loans. $22,839,000 of loans were in farm loans. $0 of loans were in credit card loans. $640,000 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 | 151 | $28,555 | $189,106 |
| Nonfarm, nonresidential loans - <$100k | 64 | $2,297 | $35,891 |
| Nonfarm, nonresidential loans - $100-250k | 24 | $3,288 | $137,000 |
| Nonfarm, nonresidential loans - $250k-1MM | 63 | $22,970 | $364,603 |
| Commercial & Industrial, US addressed loans - <$1MM | 347 | $40,423 | $116,493 |
| Commercial & Industrial, US addressed loans - <$100k | 161 | $4,850 | $30,124 |
| Commercial & Industrial, US addressed loans - $100-250k | 75 | $6,720 | $89,600 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 111 | $28,853 | $259,937 |
| Farmland loans - <$1MM | 193 | $17,861 | $92,544 |
| Farmland loans - <$100k | 55 | $2,005 | $36,455 |
| Farmland loans - $100-250k | 84 | $7,013 | $83,488 |
| Farmland loans - $250k-1MM | 54 | $8,843 | $163,759 |
| Agriculture operations loans - <$1MM | 278 | $16,285 | $58,579 |
| Agriculture operations loans - <$100k | 197 | $4,986 | $25,310 |
| Agriculture operations loans - $100-250k | 58 | $5,447 | $93,914 |
| Agriculture operations loans - $250k-1MM | 23 | $5,852 | $254,435 |
