Merchants Bank Of Indiana Mortgage Rates, Fees & Info

Carmel, IN

LEI: 549300WRDGBHKR1BXL98

Tax ID: 35-0352710

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 Of Indiana is a smaller bank specializing in Home Purchase and Refi 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.) They have a low ratio of USDA loans. Their top markets by origination volume include: Indianapolis, Cincinnati, Columbus, Toledo, and Lafayette among others. We have data for 52 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Merchants Bank Of Indiana 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 Of Indiana 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.50% 12/17/24
    30 Year Conventional Purchase 6.55% 12/17/24
    30 Year Conventional Refi 6.21% 12/17/24
    30 Year Cash-out Refi 6.72% 12/17/24
    30 Year FHA Purchase 7.13% 12/17/24
    30 Year FHA Refi 6.88% 12/17/24
    30 Year USDA Purchase 6.82% 12/17/24
    15 Year Conventional Purchase 6.08% 12/17/24
    15 Year Conventional Refi 5.83% 12/17/24
    15 Year Cash-out Refi 5.83% 12/17/24
    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 Of Indiana Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Merchants Bank Of Indiana. 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

    301

    Origination Dollar Volume (All Markets)

    $414,525,000

    Employee count

    290 Show all (6) 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
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 149 $75,235,000 $504,933 $2,027 3.96%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 8 $52,390,000 $6,548,750 $2,242 4.78%
    COLUMBUS, OH (FHA|USDA|VA) 2 $36,170,000 $18,085,000 $0 5.30%
    TOLEDO, OH (FHA|USDA|VA) 2 $32,300,000 $16,150,000 $0 4.49%
    LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 2 $26,410,000 $13,205,000 $0 4.12%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 11 $25,725,000 $2,338,636 $2,342 3.93%
    SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 1 $25,105,000 $25,105,000 $0 5.14%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 2 $23,210,000 $11,605,000 $0 4.25%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $17,685,000 $17,685,000 $0 5.20%
    DAYTON-KETTERING, OH (FHA|USDA|VA) 1 $10,485,000 $10,485,000 $0 4.95%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $9,505,000 $9,505,000 $0 5.34%
    TERRE HAUTE, IN (FHA|USDA|VA) 1 $8,755,000 $8,755,000 $0 4.35%
    MUNCIE, IN (FHA|USDA|VA) 4 $8,000,000 $2,000,000 $1,804 4.52%
    Jasper, IN (FHA|USDA|VA) 1 $6,695,000 $6,695,000 $0 4.99%
    Outside of Metro Areas 31 $6,215,000 $200,484 $2,738 4.26%
    GREEN BAY, WI (FHA|USDA|VA) 1 $5,325,000 $5,325,000 $0 4.03%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $3,605,000 $3,605,000 $0 4.75%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $3,505,000 $3,505,000 $0 4.22%
    ALEXANDRIA, LA (FHA|USDA|VA) 16 $3,260,000 $203,750 $2,669 3.77%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $3,165,000 $3,165,000 $0 5.55%
    LOUISVILLE, KY (FHA|USDA|VA) 3 $2,775,000 $925,000 $2,357 4.39%
    MONROE, LA (FHA|USDA|VA) 13 $2,745,000 $211,154 $4,135 4.00%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 1 $2,505,000 $2,505,000 $0 4.29%
    ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) 1 $2,475,000 $2,475,000 $0 5.30%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 5 $2,415,000 $483,000 $3,329 4.40%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $2,300,000 $1,150,000 $7,022 4.94%
    Warsaw, IN (FHA|USDA|VA) 4 $1,590,000 $397,500 $1,939 4.00%
    WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) 1 $1,445,000 $1,445,000 $0 4.15%
    Jackson, WY-ID (FHA|USDA|VA) 1 $1,325,000 $1,325,000 $3,899 5.00%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 5 $1,295,000 $259,000 $4,148 4.20%
    Marion, IN (FHA|USDA|VA) 1 $1,215,000 $1,215,000 $0 4.73%
    BECKLEY, WV (FHA|USDA|VA) 1 $1,155,000 $1,155,000 $0 4.15%
    Breckenridge, CO (FHA|USDA|VA) 1 $1,155,000 $1,155,000 $2,732 4.00%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 3 $975,000 $325,000 $2,011 4.38%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 2 $780,000 $390,000 $2,627 3.44%
    COLUMBUS, IN (FHA|USDA|VA) 2 $770,000 $385,000 $1,686 3.81%
    London, KY (FHA|USDA|VA) 1 $725,000 $725,000 $0 4.15%
    Ruston, LA (FHA|USDA|VA) 2 $620,000 $310,000 $4,289 4.19%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $475,000 $475,000 $4,611 4.13%
    Plymouth, IN (FHA|USDA|VA) 1 $435,000 $435,000 $1,977 4.50%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $395,000 $395,000 $2,630 3.88%
    HOUMA-THIBODAUX, LA (FHA|USDA|VA) 1 $295,000 $295,000 $3,069 4.88%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $275,000 $275,000 $810 3.88%
    FORT COLLINS, CO (FHA|USDA|VA) 1 $275,000 $275,000 $1,295 3.88%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $255,000 $255,000 $5,586 3.88%
    FORT WAYNE, IN (FHA|USDA|VA) 2 $250,000 $125,000 $1,402 4.00%
    MOBILE, AL (FHA|USDA|VA) 1 $225,000 $225,000 $2,057 4.00%
    SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 1 $185,000 $185,000 $3,262 5.38%
    RALEIGH-CARY, NC (FHA|USDA|VA) 1 $145,000 $145,000 $1,984 3.75%
    LAFAYETTE, LA (FHA|USDA|VA) 1 $135,000 $135,000 $2,608 3.25%
    Frankfort, KY (FHA|USDA|VA) 1 $105,000 $105,000 $2,073 4.63%
    EVANSVILLE, IN-KY (FHA|USDA|VA) 1 $65,000 $65,000 $3,249 5.25%
    Merchants Bank Of Indiana's top markets include Indianapolis, Cincinnati, Columbus, Toledo, and Lafayette among others.

    Their top states include:
  • Indiana (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Michigan (FHA|USDA|VA)
  • California (FHA|USDA|VA)

    • Similar Lenders

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

    SOMERSET
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    The North Side Bank & Trust Company
    Similarity Rank: 55
    Fire Police City County Federal Credit Union
    Similarity Rank: 72
    Liberty Bank for Savings
    Similarity Rank: 85
    Rhode Island Credit Union
    Similarity Rank: 116
    Piscataqua Savings Bank
    Similarity Rank: 118
    First Ipswich Bank
    Similarity Rank: 139
    MYPOINT Credit Union
    Similarity Rank: 147
    CINFED Federal Credit Union
    Similarity Rank: 162
    Century Next Bank
    Similarity Rank: 176

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 286 $412,130,000 $1,441,014 $2,304 4.10%
    FHA 14 $2,200,000 $157,143 $4,455 4.22%
    USDA 1 $195,000 $195,000 $3,673 4.63%

    For 2019, Merchants Bank Of Indiana's most frequently originated type of loan was Conventional, with 286 originations. Their 2nd most popular type was FHA, with 14 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 133 $163,555,000 $1,229,737 $2,406 4.11%
    Cash Out Refi 89 $62,865,000 $706,348 $2,389 4.07%
    Refi 70 $120,470,000 $1,721,000 $2,490 4.04%
    Home Improvement 9 $67,635,000 $7,515,000 $0 4.89%

    For 2019, Merchants Bank Of Indiana's most frequently cited loan purpose was Home Purchase, with 133 originations. The 2nd most popular reason was Cash Out Refi, with 89 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 220 $58,580,000 $266,273 $2,455 4.05%
    15 Year 32 $7,400,000 $231,250 $2,138 3.79%
    3 Year 18 $198,430,000 $11,023,889 $0 4.82%
    5 Year 16 $80,320,000 $5,020,000 $0 4.44%
    Other 7 $68,345,000 $9,763,571 $0 4.81%
    20 Year 6 $1,220,000 $203,333 $2,566 4.02%
    10 Year 2 $230,000 $115,000 $1,431 3.63%

    For 2019, Merchants Bank Of Indiana's most frequently cited loan duration was 30 Year, with 220 originations. The 2nd most popular length was 15 Year, with 32 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 210 $53,900,000 $256,667
    $1k-2k 32 $6,590,000 $205,938
    $3k-4k 5 $2,305,000 $461,000
    $2k-3k 2 $470,000 $235,000
    $4k-5k 2 $570,000 $285,000
    $5k+ 1 $335,000 $335,000

    Merchants Bank Of Indiana's average total fees were $2,455, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 210 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 152 $70,690,000 $465,066
    4-5% 117 $169,895,000 $1,452,094
    5-6% 26 $172,730,000 $6,643,462
    <2.5% 5 $985,000 $197,000
    2.5-3% 1 $225,000 $225,000

    During 2019, Merchants Bank Of Indiana's average interest rate for loans was 4.05%, while their most frequently originated rate bucket for loans was 3-4%, with 152 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 103 $27,795,000 $269,854 $2,761 3.92%
    $100k-200k 91 $14,325,000 $157,418 $2,192 3.95%
    $1MM+ 47 $356,825,000 $7,592,021 $4,591 4.68%
    $100,000 or less 35 $2,205,000 $63,000 $1,732 4.35%
    $400k-600k 20 $9,610,000 $480,500 $2,046 3.95%
    $600k-1MM 5 $3,765,000 $753,000 $2,003 4.22%

    2019 saw Merchants Bank Of Indiana place emphasis on $200k-400k loans with 103 originations, totaling $27,795,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 55 $7,305,000 $132,818 $1,914 3.89%
    $75k-100k 46 $10,230,000 $222,391 $2,827 3.91%
    $100k-150k 43 $10,435,000 $242,674 $2,639 3.94%
    $50k-75k 41 $7,265,000 $177,195 $2,495 4.02%
    $150k-250k 35 $9,715,000 $277,571 $2,277 4.05%
    $250k+ 34 $19,420,000 $571,176 $2,467 4.26%

    Merchants Bank Of Indiana lent most frequently to those with incomes in the $50k or less range, with 55 originations. The second most popular income band? $75k-100k, with 46 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 74 $15,960,000 $215,676 $2,327 3.96%
    30-36% 50 $13,620,000 $272,400 $2,500 4.01%
    <20% 31 $8,605,000 $277,581 $2,130 4.01%
    38% 12 $2,280,000 $190,000 $2,613 4.01%
    44% 12 $2,450,000 $204,167 $2,825 4.14%
    37% 11 $2,555,000 $232,273 $2,167 3.98%
    45% 9 $2,195,000 $243,889 $2,300 3.82%
    40% 9 $3,915,000 $435,000 $3,138 4.26%
    42% 8 $3,040,000 $380,000 $2,296 4.13%
    43% 7 $1,835,000 $262,143 $2,903 4.02%
    47% 6 $1,460,000 $243,333 $2,174 4.19%
    39% 6 $1,700,000 $283,333 $2,317 3.88%
    36% 5 $1,265,000 $253,000 $2,314 3.90%
    46% 5 $885,000 $177,000 $2,578 3.40%
    41% 4 $1,630,000 $407,500 $2,110 4.22%
    48% 4 $900,000 $225,000 $2,947 4.00%
    49% 1 $75,000 $75,000 $2,621 4.13%

    Merchants Bank Of Indiana lent most frequently to those with DTI ratios of 20-30%, with 74 originations. The next most common DTI ratio? 30-36%, with 50 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 47 $350,155,000 $7,450,106 $0 4.69%
    White 205 $53,815,000 $262,512 $2,434 4.03%
    Asian 29 $5,735,000 $197,759 $2,187 3.78%
    Not provided 15 $3,695,000 $246,333 $2,219 3.83%
    Black 5 $1,125,000 $225,000 $3,810 4.25%

    Approval Rates

    Total approvals of all applications
    94.17%

    Merchants Bank Of Indiana has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.39%

    Merchants Bank Of Indiana has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 301 $414,525,000 $1,377,159

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 43 $350,035,000 $8,140,349
    Single Family (1-4 Units):Manufactured 1 $35,000 $35,000
    Single Family (1-4 Units):Site-Built 257 $64,455,000 $250,798

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 14 $18,380,000 $1,312,857 $1,992 3.88%
    40-60% 33 $42,555,000 $1,289,545 $1,648 4.04%
    60-80% 142 $208,340,000 $1,467,183 $2,357 4.18%
    80-100% 107 $120,445,000 $1,125,654 $2,786 4.03%
    Under 20% 5 $24,805,000 $4,961,000 $0 4.60%

    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 of Indiana 11555 N. Meridian Street, Suite 400 Carmel, IN 46032 Full Service B&M $0
    Merchants Bank of Indiana 11590 North Meridian Street Carmel, IN 46032 Full Service B&M $1,815,328
    Merchants Bank of Indiana 3737 East 96th Street Indianapolis, IN 46240 Full Service B&M $519,666
    Merchants Bank of Indiana 6880 South Arba Pike Lynn, IN 47355 Full Service B&M $6,348
    Merchants Bank of Indiana 7375 South Us Highway 27 Lynn, IN 47355 Full Service B&M $2,187,719

    For 2019, Merchants Bank Of Indiana had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $207,266
    Net interest income $122,577
    Total noninterest income $42,257
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $189
    Trading account gains and fees $3
    Additional Noninterest Income $42,065
    Pre-tax net operating income $104,453
    Securities gains (or losses, -) $0
    Income before extraordinary items $78,793
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $78,793
    Minority interest net income $0
    Net income $78,793
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $78,793

    Merchants Bank Of Indiana's gross interest income from loans was $207,266,000.
    Merchants Bank Of Indiana's net interest income from loans was $122,577,000.
    Merchants Bank Of Indiana's fee based income from loans was $189,000.
    Merchants Bank Of Indiana's net income from loans was $78,793,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $84,689
    Provision for credit losses $3,619
    Total noninterest expense $56,762
    Salaries and employee benefits $34,226
    Premises and equipment expense $4,295
    Additional noninterest expense $18,241
    Applicable income taxes $25,660
    Net charge-offs $801
    Cash dividends $43,903

    Merchants Bank Of Indiana's interest expense for loans was $84,689,000.
    Merchants Bank Of Indiana's payroll and benefits expense were $34,226,000.
    Merchants Bank Of Indiana's property, plant and equipment expenses $4,295,000.

    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 2.0%
    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 $5,315,712
    Deposits held in domestic offices $5,315,712
    Deposits by Individuals, partnerships, and corporations $5,054,069
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $261,643
    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 $2,044,379
    Demand deposits $1,933,514
    Nontransaction accounts $3,271,333
    Money market deposit accounts (MMDAs) $862,264
    Other savings deposits (excluding MMDAs) $304,401
    Total time deposits $2,104,668
    Total time and savings deposits $3,382,198
    Noninterest-bearing deposits $248,618
    Interest-bearing deposits $5,067,094
    Retail deposits $3,242,668
    IRAs and Keogh plan accounts $0
    Brokered deposits $2,147,621
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $6,167,493
    Cash & Balances due from depository institutions $500,851
    Interest-bearing balances $488,406
    Total securities $271,025
    Federal funds sold & reverse repurchase $6,723
    Net loans and leases $4,944,989
    Loan and leases loss allowance $15,388
    Trading account assets $269,891
    Bank premises and fixed assets $28,053
    Other real estate owned $144
    Goodwill and other intangibles $84,374
    All other assets $61,443

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $6,167,493
    Total Liabilities $5,534,006
    Total deposits $5,315,712
    Interest-bearing deposits $5,067,094
    Deposits held in domestic offices $5,315,712
    % insured (estimated) $74
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $160,890
    Subordinated debt $0
    All other liabilities $57,404

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $4,944,989
    Loan and leases loss allowance $15,388
    Total loans and leases (domestic) $4,960,377
    All real estate loans $1,879,739
    Real estate loans in domestic offices $1,879,739
    Construction and development loans $364,604
    Residential 1-4 family construction $1,441
    Other construction, all land development and other land $363,163
    Loans secured by nonfarm nonresidential properties $50,592
    Nonfarm nonresidential secured by owner-occupied properties $39,414
    Commercial real estate & other non-farm, non-residential $11,178
    Multifamily residential real estate $1,035,783
    1-4 family residential loans $398,053
    Farmland loans $30,707
    Loans held in foreign offices $0
    Farm loans $21,344
    Commercial and industrial loans $372,430
    To non-U.S. addressees $0
    Loans to individuals $9,773
    Credit card loans $0
    Related Plans $7,600
    Consumer Auto Loans $325
    Other loans to individuals $1,848
    All other loans & leases $2,677,092
    Loans to foreign governments and official institutions $0
    Other loans $2,677,092
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $294,917
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $4,015
    Non 1-4 family restructured loans & leases $4,015
    Total loans and leases (foreign) $0

    Merchants Bank of Indiana had $4,944,989,000 of loans outstanding in 2019. $1,879,739,000 of loans were in real estate loans. $364,604,000 of loans were in development loans. $1,035,783,000 of loans were in multifamily mortgage loans. $398,053,000 of loans were in 1-4 family mortgage loans. $21,344,000 of loans were in farm loans. $0 of loans were in credit card loans. $325,000 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 110 $18,321 $166,555
    Nonfarm, nonresidential loans - <$100k 58 $1,934 $33,345
    Nonfarm, nonresidential loans - $100-250k 22 $3,130 $142,273
    Nonfarm, nonresidential loans - $250k-1MM 30 $13,257 $441,900
    Commercial & Industrial, US addressed loans - <$1MM 231 $31,916 $138,165
    Commercial & Industrial, US addressed loans - <$100k 103 $3,524 $34,214
    Commercial & Industrial, US addressed loans - $100-250k 59 $6,387 $108,254
    Commercial & Industrial, US addressed loans - $250k-1MM 69 $22,005 $318,913
    Farmland loans - <$1MM 176 $18,317 $104,074
    Farmland loans - <$100k 46 $1,913 $41,587
    Farmland loans - $100-250k 85 $8,470 $99,647
    Farmland loans - $250k-1MM 45 $7,934 $176,311
    Agriculture operations loans - <$1MM 297 $16,692 $56,202
    Agriculture operations loans - <$100k 217 $5,406 $24,912
    Agriculture operations loans - $100-250k 60 $5,700 $95,000
    Agriculture operations loans - $250k-1MM 20 $5,586 $279,300