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First Merchants Bank in Indiana

HMDA record for properties in Indiana, calendar year 2024. National record · Indiana overview

LEI S0Q3AHZRL5K6VQE35M07
Reporting agency Consumer Financial Protection Bureau
State Indiana

HMDA data alone cannot be used to determine whether a lender is complying with fair lending laws. The data do not include some legitimate credit risk considerations for loan approval and loan pricing decisions. Cells under 25 applications are withheld.

First Merchants Bank's 2024 HMDA record for Indiana covers 5,059 applications, 3,239 of them originated, worth $502m.

Its denial rate in the state was 22.9%, close to the Indiana rate of 21.5% across all lenders and compared with the lender's national rate of 19.8%.

The median rate spread on its Indiana originations was 0.1 percentage points (state median 0.5).

Applications in the state were down 6% on 2023.

5,059applications in IN, 202460.2% of the lender's total
3,239loans originated$502m
22.9%denial rateIN all lenders 21.5%
0.1 ppmedian rate spreadIN 0.5 pp

Compared with the state and the lender's national record

MeasureIn IndianaIndiana, all lendersFirst Merchants Bank, all statesUnited States
Denial rate22.9%21.5%19.8%24.3%
Median rate spread, pp0.10.50.10.3
Originations with spread of 1.5 pp or more6.3%15.8%4.8%15.6%
Average originated loan$155k$216k$288k$329k
Home purchase share33.6%53.1%43.9%57.0%
FHA-insured share2.7%14.5%2.4%13.4%
VA-guaranteed share0.2%6.0%0.3%7.9%

Trend by year

ApplicationsOriginations

02,9625,9242022: 5,924 Applications2023: 5,396 Applications2024: 5,059 Applications2022: 4,009 Originations2023: 3,435 Originations2024: 3,239 Originations202220232024
First Merchants Bank in Indiana: applications and originations, 2022–2024

This lender in stateIndiana, all lenders

0%11.4%22.9%2022: 19.1% This lender in state2023: 22.7% This lender in state2024: 22.9% This lender in state202220232024
Denial rate by year, state rate dashed

Loan purpose and loan type in Indiana

By purpose

Home purchase 34% (1,087)Home improvement 11% (360)Refinancing 26% (852)Cash-out refinancing 3% (103)Other purpose 26% (837)

By type

Conventional 97% (3,140)FHA 3% (87)VA 0% (7)USDA 0% (5)

Denial reasons as coded

Debt-to-income ratio59.7%
Credit history26.1%
Collateral10.5%
Other2.3%
Unverifiable information0.7%
Employment history0.5%
Credit application incomplete0.2%
Insufficient cash (downpayment, closing costs)0%
Mortgage insurance denied0%

Share of 976 denials in Indiana by first denial reason coded (outlined bar: all lenders in the state).

Counties in Indiana

CountyApplicationsOriginationsAmountDenial rate
Allen County568416$63m12.3%
Delaware County476313$32m22.7%
Tippecanoe County473286$55m26.8%
Madison County431285$31m23.0%
Marion County442266$55m26.0%
Lake County350182$27m31.0%
Henry County250170$17m19.7%
Hamilton County238151$45m22.7%
White County16696$15m26.1%
Johnson County13987$11m28.0%
Hendricks County10175$12m13.8%
Jasper County12173$7.4m21.5%
Clinton County8451$5.5m31.1%
Wells County7851$5.2m20.6%
Hancock County8348$7.8m29.4%
Adams County6547$6.1m20.3%
Carroll County7544$6.0m24.1%
Montgomery County6643$5.7m27.1%
Morgan County6641$6.6m26.8%
Jay County5541$3.3m18.0%
Huntington County4940$6.5m10.9%
Porter County6939$7.8m25.5%
Wabash County4838$3.1m15.6%
Randolph County6435$3.0m35.2%
Shelby County4635$5.7m16.7%
Boone County3226$17m7.1%
Fayette County3523$2.3m22.6%
Union County3422$2.0m24.1%
Miami County3021$1.5m19.2%
Brown County2819$2.9m24.0%
DeKalb County2615$3.4m—

Counties with at least 25 applications, by originations.

Questions and answers

How many mortgages did First Merchants Bank originate in Indiana in 2024?

3,239 loans totalling $502m, from 5,059 applications reported for properties in Indiana.

What is First Merchants Bank's denial rate in Indiana?

22.9% of decided applications in Indiana were denied, against 21.5% for all lenders in the state and 19.8% for this lender nationally. HMDA data alone cannot be used to determine whether a lender is complying with fair lending laws.

Which Indiana counties does First Merchants Bank lend in most?

By originations: Allen County (416), Delaware County (313), Tippecanoe County (286), Madison County (285), Marion County (266).

Where does this data come from?

From the 2024 public HMDA loan/application register (FFIEC and CFPB), filtered to the lender's LEI and the property state. Cells under 25 applications are withheld.

Provenance

Source: HMDA public loan/application register 2022, 2023, 2024 (FFIEC and CFPB, public domain), records for this LEI with a property in Indiana. Built 30 Sep 2026; data through 1 Aug 2026. See methodology and corrections.