First Merchants Bank Mortgage Rates, Fees & Info
Muncie, INLEI: S0Q3AHZRL5K6VQE35M07
Tax ID: 35-0508403
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Mortgage Data
Bank Data
Review & Overview
First Merchants Bank is a smaller bank specializing in Other and Home Purchase loans. First 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: Indianapolis, Chicago, Columbus, Fort Wayne, and Lafayette among others. We have data for 99 markets. (Some data included below & more in-depth data is available with an active subscription.)First Merchants Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. First 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) | 6.27% | 4/21/24 |
| 30 Year Conventional Purchase | 6.27% | 4/21/24 |
| 30 Year Conventional Refi | 6.47% | 4/21/24 |
| 30 Year Cash-out Refi | 6.65% | 4/21/24 |
| 30 Year FHA Purchase | 7.47% | 4/21/24 |
| 30 Year FHA Refi | 7.19% | 4/21/24 |
| 30 Year VA Purchase | 6.38% | 4/21/24 |
| 30 Year USDA Purchase | 6.59% | 4/21/24 |
| 15 Year Conventional Purchase | 5.90% | 4/21/24 |
| 15 Year Conventional Refi | 6.53% | 4/21/24 |
| 15 Year Cash-out Refi | 6.53% | 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. | ||
First 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
4,776Origination Dollar Volume (All Markets)
$689,820,000Employee count
1,698Awards
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First Merchants Bank - 2018
First Merchants Bank is a 2018 , due to their low .
For 2018, 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 |
|---|---|---|---|---|---|
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1,250 | $171,200,000 | $136,960 | $2,216 | 5.01% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 533 | $98,065,000 | $183,987 | $2,380 | 4.94% |
| COLUMBUS, OH (FHA|USDA|VA) | 404 | $97,550,000 | $241,460 | $3,285 | 4.69% |
| FORT WAYNE, IN (FHA|USDA|VA) | 477 | $67,075,000 | $140,618 | $2,262 | 4.87% |
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 475 | $56,335,000 | $118,600 | $1,739 | 5.10% |
| MUNCIE, IN (FHA|USDA|VA) | 392 | $33,700,000 | $85,969 | $1,803 | 5.11% |
| Outside of Metro Areas | 312 | $27,000,000 | $86,538 | $1,524 | 5.14% |
| BLOOMINGTON, IN (FHA|USDA|VA) | 8 | $14,380,000 | $1,797,500 | $3,938 | 4.75% |
| New Castle, IN (FHA|USDA|VA) | 179 | $12,705,000 | $70,978 | $1,411 | 5.16% |
| ELKHART-GOSHEN, IN (FHA|USDA|VA) | 4 | $12,540,000 | $3,135,000 | $2,346 | 4.58% |
| Decatur, IN (FHA|USDA|VA) | 93 | $10,135,000 | $108,978 | $2,255 | 4.87% |
| Warsaw, IN (FHA|USDA|VA) | 26 | $9,300,000 | $357,692 | $2,752 | 4.92% |
| Bluffton, IN (FHA|USDA|VA) | 103 | $7,965,000 | $77,330 | $1,629 | 5.02% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 7 | $5,585,000 | $797,857 | $8,696 | 4.14% |
| Crawfordsville, IN (FHA|USDA|VA) | 49 | $4,185,000 | $85,408 | $1,423 | 5.18% |
| Auburn, IN (FHA|USDA|VA) | 26 | $3,840,000 | $147,692 | $2,055 | 4.98% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 37 | $3,805,000 | $102,838 | $2,740 | 5.02% |
| Frankfort, IN (FHA|USDA|VA) | 51 | $3,565,000 | $69,902 | $1,101 | 5.28% |
| Richmond, IN (FHA|USDA|VA) | 30 | $2,730,000 | $91,000 | $1,570 | 5.52% |
| Wabash, IN (FHA|USDA|VA) | 37 | $2,455,000 | $66,351 | $1,375 | 5.03% |
| Plymouth, IN (FHA|USDA|VA) | 20 | $2,420,000 | $121,000 | $2,359 | 5.08% |
| Huntington, IN (FHA|USDA|VA) | 40 | $2,410,000 | $60,250 | $1,423 | 5.34% |
| COLUMBUS, IN (FHA|USDA|VA) | 7 | $2,345,000 | $335,000 | $2,629 | 4.32% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 7 | $1,975,000 | $282,143 | $4,385 | 4.86% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 3 | $1,895,000 | $631,667 | $3,151 | 4.33% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 8 | $1,790,000 | $223,750 | $4,052 | 4.33% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 3 | $1,605,000 | $535,000 | $5,184 | 4.25% |
| Connersville, IN (FHA|USDA|VA) | 24 | $1,560,000 | $65,000 | $1,451 | 5.26% |
| Angola, IN (FHA|USDA|VA) | 12 | $1,540,000 | $128,333 | $2,288 | 4.84% |
| Heber, UT (FHA|USDA|VA) | 1 | $1,505,000 | $1,505,000 | $0 | 4.92% |
| SUMTER, SC (FHA|USDA|VA) | 1 | $1,505,000 | $1,505,000 | $0 | 5.01% |
| Peru, IN (FHA|USDA|VA) | 19 | $1,425,000 | $75,000 | $1,248 | 5.40% |
| Marion, IN (FHA|USDA|VA) | 11 | $1,135,000 | $103,182 | $2,825 | 5.07% |
| Kendallville, IN (FHA|USDA|VA) | 7 | $875,000 | $125,000 | $2,280 | 4.84% |
| MADISON, WI (FHA|USDA|VA) | 1 | $815,000 | $815,000 | $2,510 | 3.75% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 2 | $790,000 | $395,000 | $9,134 | 4.81% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 3 | $765,000 | $255,000 | $3,780 | 4.33% |
| KOKOMO, IN (FHA|USDA|VA) | 7 | $715,000 | $102,143 | $2,412 | 4.57% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 8 | $670,000 | $83,750 | $2,414 | 5.02% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 3 | $625,000 | $208,333 | $2,940 | 4.62% |
| Edwards, CO (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $3,468 | 3.88% |
| KANKAKEE, IL (FHA|USDA|VA) | 3 | $595,000 | $198,333 | $5,426 | 5.63% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $2,548 | 3.75% |
| Greensburg, IN (FHA|USDA|VA) | 3 | $575,000 | $191,667 | $1,087 | 5.62% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $0 | 5.75% |
| TERRE HAUTE, IN (FHA|USDA|VA) | 5 | $565,000 | $113,000 | $2,941 | 4.60% |
| MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) | 3 | $515,000 | $171,667 | $0 | 4.63% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $3,086 | 3.88% |
| Bellefontaine, OH (FHA|USDA|VA) | 3 | $505,000 | $168,333 | $2,885 | 4.62% |
| LOUISVILLE, KY (FHA|USDA|VA) | 4 | $490,000 | $122,500 | $2,787 | 4.72% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $4,467 | 3.88% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $0 | 4.50% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $4,743 | 3.88% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $7,534 | 3.88% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $2,839 | 3.75% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $2,776 | 4.50% |
| Logansport, IN (FHA|USDA|VA) | 9 | $445,000 | $49,444 | $731 | 5.07% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 3 | $435,000 | $145,000 | $0 | 4.67% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $3,996 | 4.38% |
| SAVANNAH, GA (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $3,293 | 4.44% |
| Sturgis, MI (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $2,960 | 4.25% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $3,673 | 4.63% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $1,843 | 4.63% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $9,347 | 5.00% |
| KNOXVILLE, TN (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $4,450 | 4.94% |
| Breckenridge, CO (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $2,278 | 4.13% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $8,480 | 4.75% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $2,605 | 4.50% |
| Ottawa, IL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 4.50% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $6,613 | 5.13% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,748 | 4.13% |
| AKRON, OH (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 5.25% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $2,901 | 4.25% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,847 | 3.50% |
| Traverse City, MI (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $2,815 | 3.88% |
| Marion, OH (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $2,521 | 3.63% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 2 | $220,000 | $110,000 | $3,065 | 4.69% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 2 | $220,000 | $110,000 | $6,113 | 4.31% |
| EVANSVILLE, IN-KY (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $2,107 | 4.94% |
| Mount Vernon, OH (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $2,308 | 4.63% |
| Bedford, IN (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,134 | 4.88% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,290 | 4.00% |
| Sevierville, TN (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,871 | 3.88% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,421 | 4.50% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 4.24% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,349 | 4.38% |
| Madison, IN (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,462 | 4.50% |
| Greenville, OH (FHA|USDA|VA) | 3 | $135,000 | $45,000 | $2,539 | 4.79% |
| Jasper, IN (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $1,787 | 4.88% |
| Seymour, IN (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,780 | 4.25% |
| Mineral Wells, TX (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $4,899 | 4.88% |
| Coldwater, MI (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 5.00% |
| Van Wert, OH (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,405 | 4.38% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $2,604 | 4.38% |
| WHEELING, WV-OH (FHA|USDA|VA) | 2 | $40,000 | $20,000 | $199 | 5.75% |
| NILES, MI (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $461 | 7.24% |
| BAY CITY, MI (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $199 | 6.59% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 4.75% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 5.49% |
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Product Mix
For 2018, First Merchants Bank's most frequently originated type of loan was Conventional, with 2,441 originations. Their 2nd most popular type was HELOC, with 2,083 originations.
Loan Reason
For 2018, First Merchants Bank's most frequently cited loan purpose was Other, with 1,860 originations. The 2nd most popular reason was Home Purchase, with 1,489 originations.
Loan Duration/Length
For 2018, First Merchants Bank's most frequently cited loan duration was 30 Year, with 3,616 originations. The 2nd most popular length was 15 Year, with 383 originations.
Origination Fees/Closing Costs
First Merchants Bank's average total fees were $2,854, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2,158 originations.
Interest Rates
During 2018, First Merchants Bank's average interest rate for loans was 4.86%, while their most frequently originated rate bucket for loans was 4-5%, with 2,675 originations.
Loan Sizing
2018 saw First Merchants Bank place emphasis on $100,000 or less loans with 2,571 originations, totaling $129,575,000 in origination value.
Applicant Income
First Merchants Bank lent most frequently to those with incomes in the $50k or less range, with 1,198 originations. The second most popular income band? $50k-75k, with 1,018 originations.
Applicant Debt to Income Ratio
First Merchants Bank lent most frequently to those with DTI ratios of 20-30%, with 1,361 originations. The next most common DTI ratio? 30-36%, with 925 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications79.45%
First Merchants Bank has a below average approval rate.
Pick Rate
Approvals leading to origination82.06%
First Merchants Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 2 | $130,000 | $65,000 |
| NA | 4,774 | $689,690,000 | $144,468 |
Occupancy Type Mix
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST HORIZON BANK | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 7.1% |
| FIRST HORIZON BANK | Conventional home mortgage | Struggling to pay mortgage | 3 | 21.4% |
| FIRST HORIZON BANK | Conventional home mortgage | Trouble during payment process | 5 | 35.7% |
| FIRST HORIZON BANK | FHA mortgage | Trouble during payment process | 1 | 7.1% |
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Incorrect information on your report | 1 | 7.1% |
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 7.1% |
| FIRST HORIZON BANK | Other type of mortgage | Trouble during payment process | 1 | 7.1% |
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Problem with a credit reporting company's investigation into an existing problem | 1 | 7.1% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| First Merchants Bank | 1628 W Mcgalliard Road Muncie, IN 47304 | Full Service B&M | $101,299 |
| First Merchants Bank | 100 E State St Pendleton, IN 46064 | Full Service B&M | $71,771 |
| First Merchants Bank | 1000 North Huntington Avenue Warren, IN 46792 | Full Service B&M | $40,121 |
| First Merchants Bank | 1007 South 10th Street Noblesville, IN 46060 | Limited, Drive-thru | $0 |
| First Merchants Bank | 101 East Division Street Remington, IN 47977 | Full Service B&M | $42,419 |
| First Merchants Bank | 101 South Country Club Road Muncie, IN 47303 | Full Service B&M | $33,943 |
| First Merchants Bank | 101 West Center Street Bourbon, IN 46504 | Full Service B&M | $55,943 |
| First Merchants Bank | 1010 N Samuel Moore Pkwy Mooresville, IN 46158 | Full Service B&M | $76,138 |
| First Merchants Bank | 1011 N Main St Lapel, IN 46051 | Full Service B&M | $38,997 |
| First Merchants Bank | 10210 North Michigan Road Carmel, IN 46032 | Full Service B&M | $63,849 |
| First Merchants Bank | 103 N Prairie St. Brookston, IN 47923 | Full Service B&M | $40,602 |
| First Merchants Bank | 10333 N Meridian St, Ste 350 Indianapolis, IN 46290 | Full Service B&M | $584 |
| First Merchants Bank | 10403 Leo Road Fort Wayne, IN 46825 | Full Service B&M | $59,157 |
| First Merchants Bank | 107 East Harris Street Eaton, IN 47338 | Full Service B&M | $29,413 |
| First Merchants Bank | 107 W Union St Liberty, IN 47353 | Full Service B&M | $47,252 |
| First Merchants Bank | 1088 West Broadway Street Monticello, IN 47960 | Full Service Retail | $18,573 |
| First Merchants Bank | 110 North State Road 135 Trafalgar, IN 46181 | Full Service B&M | $28,892 |
| First Merchants Bank | 1100 East Joliet Street Dyer, IN 46311 | Full Service B&M | $35,268 |
| First Merchants Bank | 1100 South Peru Street Cicero, IN 46034 | Full Service B&M | $23,849 |
| First Merchants Bank | 11075 Isabelle Drive New Haven, IN 46774 | Full Service B&M | $40,022 |
| First Merchants Bank | 11100 W 109th Ave Saint John, IN 46373 | Full Service B&M | $22,742 |
| First Merchants Bank | 112 W Main St Portland, IN 47371 | Full Service B&M | $117,967 |
| First Merchants Bank | 1121 East Main Street Plainfield, IN 46168 | Full Service B&M | $81,554 |
| First Merchants Bank | 115 W Main St Portland, IN 47371 | Limited, Drive-thru | $0 |
| First Merchants Bank | 11521 Olio Road Fishers, IN 46037 | Full Service B&M | $51,916 |
| First Merchants Bank | 116 East Washington Street Monticello, IN 47960 | Full Service B&M | $105,782 |
| First Merchants Bank | 11991 Fishers Crossing Drive Fishers, IN 46038 | Full Service B&M | $21,195 |
| First Merchants Bank | 1202 North Park Avenue Alexandria, IN 46001 | Full Service B&M | $21,776 |
| First Merchants Bank | 122-124 West Washington Street Winchester, IN 47394 | Full Service B&M | $55,616 |
| First Merchants Bank | 1250 N Emerson Avenue Greenwood, IN 46142 | Full Service B&M | $14,644 |
| First Merchants Bank | 1250 North Cass St Wabash, IN 46992 | Full Service B&M | $31,904 |
| First Merchants Bank | 1275 Us Hwy 31 Greenwood, IN 46142 | Full Service B&M | $19,688 |
| First Merchants Bank | 1300 Mercer Avenue Decatur, IN 46733 | Full Service B&M | $1,929 |
| First Merchants Bank | 13323 S Baltimore Ave Chicago, IL 60633 | Full Service B&M | $22,261 |
| First Merchants Bank | 134 South Washington Crawfordsville, IN 47933 | Full Service B&M | $46,883 |
| First Merchants Bank | 135 E 154th St Harvey, IL 60426 | Full Service B&M | $13,237 |
| First Merchants Bank | 13505 Main St. Grabill, IN 46741 | Full Service B&M | $107,342 |
| First Merchants Bank | 13839 Amstutz Road Leo, IN 46765 | Full Service B&M | $45,492 |
| First Merchants Bank | 1401 West Dupont Road Fort Wayne, IN 46825 | Full Service B&M | $21,368 |
| First Merchants Bank | 1405 Baker Place Bluffton, IN 46714 | Full Service B&M | $69,877 |
| First Merchants Bank | 14500 West Davis Drive Daleville, IN 47334 | Full Service B&M | $29,697 |
| First Merchants Bank | 1460 Grandview Avenue Columbus, OH 43212 | Full Service B&M | $51,847 |
| First Merchants Bank | 1501 N Nebo Rd Muncie, IN 47304 | Full Service B&M | $46,789 |
| First Merchants Bank | 1526 E 53rd St Anderson, IN 46013 | Full Service B&M | $41,779 |
| First Merchants Bank | 155 N. Main Street Crown Point, IN 46307 | Full Service B&M | $97,583 |
| First Merchants Bank | 1616 East Dublin Granville Road Columbus, OH 43229 | Full Service B&M | $13,769 |
| First Merchants Bank | 1717 South Harrison Plaza Bluffton, IN 46714 | Full Service B&M | $31,121 |
| First Merchants Bank | 1720 45th Street Munster, IN 46321 | Full Service B&M | $93,487 |
| First Merchants Bank | 17505-17507 State Road 37 Harlan, IN 46743 | Full Service B&M | $39,757 |
| First Merchants Bank | 180 East Morse Street Markle, IN 46770 | Full Service B&M | $36,436 |
| First Merchants Bank | 180 W Washington Street Morgantown, IN 46160 | Full Service B&M | $25,331 |
| First Merchants Bank | 1801 North Scatterfield Rd Anderson, IN 46012 | Full Service B&M | $41,645 |
| First Merchants Bank | 1803 E Veterans Memorial Pkwy S, Suite J Lafayette, IN 47909 | Full Service B&M | $51,225 |
| First Merchants Bank | 1810 North State Street Greenfield, IN 46140 | Full Service B&M | $76,202 |
| First Merchants Bank | 189 Commercial Street Nashville, IN 47448 | Full Service B&M | $21,913 |
| First Merchants Bank | 189 West Market Street Wabash, IN 46992 | Full Service B&M | $23,383 |
| First Merchants Bank | 200 East Jackson Street Muncie, IN 47305 | Limited, Trust Office | $0 |
| First Merchants Bank | 200 East Jackson Street Muncie, IN 47305 | Full Service B&M | $944,678 |
| First Merchants Bank | 200 West Washington Street Rensselaer, IN 47978 | Full Service B&M | $122,385 |
| First Merchants Bank | 2101 South Madison Street Muncie, IN 47302 | Full Service B&M | $52,258 |
| First Merchants Bank | 2118 Bundy Avenue New Castle, IN 47362 | Full Service B&M | $133,222 |
| First Merchants Bank | 2130 Tremont Center Upper Arlington, OH 43221 | Full Service B&M | $124,407 |
| First Merchants Bank | 22 North Jefferson Street Knightstown, IN 46148 | Full Service B&M | $31,544 |
| First Merchants Bank | 2200 Elmwood Avenue Lafayette, IN 47904 | Full Service B&M | $59,510 |
| First Merchants Bank | 2206 Chester Blvd Richmond, IN 47374 | Full Service B&M | $23,196 |
| First Merchants Bank | 2259 North Morton Street Franklin, IN 46131 | Full Service B&M | $55,688 |
| First Merchants Bank | 2329 North Salisbury Street West Lafayette, IN 47906 | Full Service B&M | $86,476 |
| First Merchants Bank | 2350 Marketplace Blvd Shelbyville, IN 46176 | Full Service B&M | $16,034 |
| First Merchants Bank | 250 Main Street Lafayette, IN 47901 | Full Service B&M | $133,654 |
| First Merchants Bank | 2504 Teal Road Lafayette, IN 47905 | Full Service B&M | $60,002 |
| First Merchants Bank | 2845 Guilford Street Huntington, IN 46750 | Full Service B&M | $15,381 |
| First Merchants Bank | 2862 U.S. Highway 231 S Lafayette, IN 47905 | Full Service B&M | $56,739 |
| First Merchants Bank | 29 E Washington Street Shelbyville, IN 46176 | Full Service B&M | $55,425 |
| First Merchants Bank | 3055 W Us Hwy 36 Pendleton, IN 46064 | Full Service B&M | $28,048 |
| First Merchants Bank | 3245 North High Street Columbus, OH 43202 | Full Service B&M | $15,654 |
| First Merchants Bank | 3301 Vollmer Road Flossmoor, IL 60422 | Full Service B&M | $40,429 |
| First Merchants Bank | 3333 East State Road 32 Westfield, IN 46074 | Full Service B&M | $66,001 |
| First Merchants Bank | 335 S. College Ave, Suite 101 Oxford, OH 45056 | Full Service B&M | $22,786 |
| First Merchants Bank | 3575 Senior Place West Lafayette, IN 47906 | Full Service B&M | $0 |
| First Merchants Bank | 3650 Olentangy River Road, Suite 1 Columbus, OH 43214 | Full Service B&M | $160,580 |
| First Merchants Bank | 3853 45th Street Highland, IN 46322 | Full Service B&M | $38,028 |
| First Merchants Bank | 3901 State Road 26 East Lafayette, IN 47905 | Full Service B&M | $90,483 |
| First Merchants Bank | 400 Noble Creek Drive Noblesville, IN 46060 | Full Service B&M | $74,844 |
| First Merchants Bank | 437 North Halleck Demotte, IN 46310 | Full Service B&M | $36,560 |
| First Merchants Bank | 450 West Chestnut Street Union City, IN 47390 | Full Service B&M | $16,266 |
| First Merchants Bank | 4621 Reed Road Columbus, OH 43220 | Full Service B&M | $62,125 |
| First Merchants Bank | 4740 Indianapolis Boulevard East Chicago, IN 46312 | Full Service B&M | $79,285 |
| First Merchants Bank | 488 West Main Street Morristown, IN 46161 | Full Service B&M | $28,312 |
| First Merchants Bank | 5090 North High Street Columbus, OH 43214 | Full Service B&M | $14,340 |
| First Merchants Bank | 520 North 13th Street Decatur, IN 46733 | Full Service B&M | $128,568 |
| First Merchants Bank | 5217 Merchandise Drive Fort Wayne, IN 46825 | Full Service B&M | $186,190 |
| First Merchants Bank | 5311 Hohman Avenue Hammond, IN 46320 | Full Service B&M | $32,285 |
| First Merchants Bank | 5801 West Bethel Avenue Muncie, IN 47304 | Full Service B&M | $3,727 |
| First Merchants Bank | 5811 Sawmill Road Dublin, OH 43017 | Full Service B&M | $101,038 |
| First Merchants Bank | 5915 N College Ave Indianapolis, IN 46220 | Full Service B&M | $57,206 |
| First Merchants Bank | 60 South Main Street Frankfort, IN 46041 | Full Service B&M | $64,919 |
| First Merchants Bank | 601 East 162nd Street South Holland, IL 60473 | Full Service B&M | $42,973 |
| First Merchants Bank | 6101 Harrison St Merrillville, IN 46410 | Full Service B&M | $33,737 |
| First Merchants Bank | 651 Westfield Rd Noblesville, IN 46060 | Full Service B&M | $50,837 |
| First Merchants Bank | 6751 West Jefferson Boulevard Fort Wayne, IN 46804 | Full Service B&M | $47,045 |
| First Merchants Bank | 6950 East Main Street Reynoldsburg, OH 43068 | Full Service B&M | $13,974 |
| First Merchants Bank | 707 Ridge Road Munster, IN 46321 | Full Service B&M | $246,921 |
| First Merchants Bank | 7101 West 127th Street Palos Heights, IL 60463 | Full Service B&M | $61,229 |
| First Merchants Bank | 7231 171st St Tinley Park, IL 60477 | Full Service B&M | $44,364 |
| First Merchants Bank | 7435 West Us 52 New Palestine, IN 46163 | Full Service B&M | $28,471 |
| First Merchants Bank | 7648 East Us Hwy 36 Avon, IN 46123 | Full Service B&M | $97,799 |
| First Merchants Bank | 7650 Harvest Drive Schererville, IN 46375 | Full Service B&M | $45,635 |
| First Merchants Bank | 790 W Mill Street Middletown, IN 47356 | Full Service B&M | $62,256 |
| First Merchants Bank | 800 E. Main St Anderson, IN 46016 | Full Service B&M | $96,222 |
| First Merchants Bank | 801 South Tillotson Avenue Muncie, IN 47304 | Full Service B&M | $48,041 |
| First Merchants Bank | 805 East Columbia Street Flora, IN 46929 | Full Service B&M | $34,743 |
| First Merchants Bank | 830 Logan Street Noblesville, IN 46060 | Full Service B&M | $32,737 |
| First Merchants Bank | 8301 South Cass Avenue Darien, IL 60561 | Full Service B&M | $54,504 |
| First Merchants Bank | 832 N Central Ave Connersville, IN 47331 | Full Service B&M | $30,224 |
| First Merchants Bank | 855 Thornapple Way Valparaiso, IN 46385 | Full Service B&M | $86,117 |
| First Merchants Bank | 855 Webster Street Fort Wayne, IN 46802 | Full Service B&M | $0 |
| First Merchants Bank | 855 Webster Street Indianapolis, IN 46208 | Full Service B&M | $0 |
| First Merchants Bank | 901 S State Rd 135 Greenwood, IN 46143 | Full Service B&M | $75,382 |
| First Merchants Bank | 901 W State Road 114 North Manchester, IN 46962 | Full Service B&M | $10,271 |
| First Merchants Bank | 9031 Stellhorn Crossing Parkway Fort Wayne, IN 46815 | Limited, Trust Office | $0 |
| First Merchants Bank | 937 West Walnut Albany, IN 47320 | Full Service B&M | $25,879 |
| First Merchants Bank | 975 East Main Street Brownsburg, IN 46112 | Full Service B&M | $105,852 |
| First Merchants Bank | 990 West Main Street Peru, IN 46970 | Full Service B&M | $31,445 |
| First Merchants Bank | One East Carmel Drive, Suite 100 Carmel, IN 46032 | Full Service B&M | $373,122 |
For 2018, First Merchants Bank had 124 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $407,821 |
| Net interest income | $346,966 |
| Total noninterest income | $72,279 |
| Gross Fiduciary activities income | $13,129 |
| Service charges on deposit accounts | $21,175 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $37,975 |
| Pre-tax net operating income | $196,066 |
| Securities gains (or losses, -) | $4,269 |
| Income before extraordinary items | $168,050 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $168,050 |
| Minority interest net income | $0 |
| Net income | $168,050 |
| Sale, conversion, retirement of capital stock, net | $2,336 |
| Net operating income | $164,464 |
First Merchants Bank's gross interest income from loans was $407,821,000.
First Merchants Bank's net interest income from loans was $346,966,000.
First Merchants Bank's fee based income from loans was $21,175,000.
First Merchants Bank's net income from loans was $168,050,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $60,855 |
| Provision for credit losses | $7,227 |
| Total noninterest expense | $215,952 |
| Salaries and employee benefits | $127,975 |
| Premises and equipment expense | $31,431 |
| Additional noninterest expense | $56,546 |
| Applicable income taxes | $32,285 |
| Net charge-offs | $1,707 |
| Cash dividends | $100,000 |
First Merchants Bank's interest expense for loans was $60,855,000.
First Merchants Bank's payroll and benefits expense were $127,975,000.
First Merchants Bank's property, plant and equipment expenses $31,431,000.
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 | 1.0% |
| 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 | 0.2% |
| 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 | $7,843,337 |
| Deposits held in domestic offices | $7,843,337 |
| Deposits by Individuals, partnerships, and corporations | $6,451,020 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $1,391,484 |
| Deposits by Commercial banks and other depository institutions in U.S. | $833 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $652,126 |
| Demand deposits | $396,104 |
| Nontransaction accounts | $7,191,211 |
| Money market deposit accounts (MMDAs) | $1,130,570 |
| Other savings deposits (excluding MMDAs) | $4,573,926 |
| Total time deposits | $1,486,713 |
| Total time and savings deposits | $7,447,233 |
| Noninterest-bearing deposits | $1,536,651 |
| Interest-bearing deposits | $6,306,686 |
| Retail deposits | $7,378,603 |
| IRAs and Keogh plan accounts | $154,586 |
| Brokered deposits | $238,971 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $9,873,896 |
| Cash & Balances due from depository institutions | $170,008 |
| Interest-bearing balances | $30,760 |
| Total securities | $1,630,476 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $7,148,693 |
| Loan and leases loss allowance | $80,552 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $92,262 |
| Other real estate owned | $2,179 |
| Goodwill and other intangibles | $471,552 |
| All other assets | $358,726 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $9,873,896 |
| Total Liabilities | $8,417,676 |
| Total deposits | $7,843,337 |
| Interest-bearing deposits | $6,306,686 |
| Deposits held in domestic offices | $7,843,337 |
| % insured (estimated) | $74 |
| Federal funds purchased and repurchase agreements | $217,512 |
| Trading liabilities | $0 |
| Other borrowed funds | $314,986 |
| Subordinated debt | $0 |
| All other liabilities | $41,841 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $7,148,693 |
| Loan and leases loss allowance | $80,552 |
| Total loans and leases (domestic) | $7,229,245 |
| All real estate loans | $4,876,067 |
| Real estate loans in domestic offices | $4,876,067 |
| Construction and development loans | $545,729 |
| Residential 1-4 family construction | $66,281 |
| Other construction, all land development and other land | $479,448 |
| Loans secured by nonfarm nonresidential properties | $1,959,198 |
| Nonfarm nonresidential secured by owner-occupied properties | $724,637 |
| Commercial real estate & other non-farm, non-residential | $1,234,561 |
| Multifamily residential real estate | $630,983 |
| 1-4 family residential loans | $1,498,236 |
| Farmland loans | $241,921 |
| Loans held in foreign offices | $0 |
| Farm loans | $92,404 |
| Commercial and industrial loans | $1,726,664 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $100,908 |
| Credit card loans | $467 |
| Related Plans | $13,156 |
| Consumer Auto Loans | $58,976 |
| Other loans to individuals | $28,309 |
| All other loans & leases | $433,202 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $23,920 |
| Loans to depository institutions and acceptances of other banks | $10,070 |
| Loans not secured by real estate | $0 |
| Loans secured by real estate to non-U.S. addressees | $1,547 |
| Restructured Loans & leases | $625 |
| Non 1-4 family restructured loans & leases | $149 |
| Total loans and leases (foreign) | $0 |
First Merchants Bank had $7,148,693,000 of loans outstanding in 2018. $4,876,067,000 of loans were in real estate loans. $545,729,000 of loans were in development loans. $630,983,000 of loans were in multifamily mortgage loans. $1,498,236,000 of loans were in 1-4 family mortgage loans. $92,404,000 of loans were in farm loans. $467,000 of loans were in credit card loans. $58,976,000 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 | 2,312 | $519,277 | $224,601 |
| Nonfarm, nonresidential loans - <$100k | 530 | $20,643 | $38,949 |
| Nonfarm, nonresidential loans - $100-250k | 750 | $87,158 | $116,211 |
| Nonfarm, nonresidential loans - $250k-1MM | 1,032 | $411,476 | $398,717 |
| Commercial & Industrial, US addressed loans - <$1MM | 5,190 | $395,913 | $76,284 |
| Commercial & Industrial, US addressed loans - <$100k | 3,278 | $64,044 | $19,538 |
| Commercial & Industrial, US addressed loans - $100-250k | 919 | $81,371 | $88,543 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 993 | $250,498 | $252,264 |
| Farmland loans - <$1MM | 806 | $106,980 | $132,730 |
| Farmland loans - <$100k | 268 | $10,189 | $38,019 |
| Farmland loans - $100-250k | 327 | $38,197 | $116,810 |
| Farmland loans - $250k-1MM | 211 | $58,594 | $277,697 |
| Agriculture operations loans - <$1MM | 634 | $47,975 | $75,670 |
| Agriculture operations loans - <$100k | 387 | $10,352 | $26,749 |
| Agriculture operations loans - $100-250k | 159 | $17,519 | $110,182 |
| Agriculture operations loans - $250k-1MM | 88 | $20,104 | $228,455 |