First Merchants Bank Mortgage Lending & HMDA Data, 2023
In 2023, First Merchants Bank of Muncie, IN reported 9,050 mortgage applications totaling $1.8 billion, up 3% from 2022. The average application was for $200,451, and applicants reported an average income of $131,396. 63% of its applications resulted in an originated loan and 16% were denied. Its largest markets were Indianapolis-Carmel-Anderson, IN (1,868), Warren-Troy-Farmington Hills, MI (1,062) and Lafayette-West Lafayette, IN (613) (applications in parentheses).
| Mortgage Company & Address | First Merchants Bank 200 E. Jackson St. Muncie, IN 47305 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 |
| Total Number of Mortgage Applications | 9,050 |
| Total Mortgage Loan Application Amount | $1,814,090,000 |
| Average Mortgage Loan Application Amount | $200,451 |
| Highest Mortgage Loan Application Amount | $31,905,000 |
| Average Applicant Income | $131,396 |
| Highest Applicant Income | $4,853,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records First Merchants Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Indianapolis-Carmel-Anderson, IN | 1,868 | $ 310,880,000 | $ 166,423 | $ 119,000 |
| Outside any metro area | 1,605 | $ 246,895,000 | $ 153,828 | $ 111,742 |
| Warren-Troy-Farmington Hills, MI | 1,062 | $ 350,070,000 | $ 329,632 | $ 197,000 |
| Lafayette-West Lafayette, IN | 613 | $ 88,925,000 | $ 145,065 | $ 89,000 |
| Detroit-Dearborn-Livonia, MI | 573 | $ 99,355,000 | $ 173,394 | $ 124,000 |
| Gary, IN | 552 | $ 72,410,000 | $ 131,177 | $ 118,000 |
| Fort Wayne, IN | 515 | $ 73,485,000 | $ 142,689 | $ 78,000 |
| Muncie, IN | 512 | $ 51,420,000 | $ 100,429 | $ 80,000 |
| Columbus, OH | 469 | $ 130,195,000 | $ 277,601 | $ 195,000 |
| Monroe, MI | 308 | $ 31,230,000 | $ 101,396 | $ 94,000 |
| Ann Arbor, MI | 275 | $ 87,505,000 | $ 318,200 | $ 189,000 |
| Chicago-Naperville, IL | 214 | $ 69,660,000 | $ 325,514 | $ 144,000 |
| Grand Rapids-Wyoming, MI | 65 | $ 16,165,000 | $ 248,692 | $ 130,000 |
| Cincinnati, OH-KY-IN | 42 | $ 7,790,000 | $ 185,476 | $ 162,761 |
| Toledo, OH | 42 | $ 7,230,000 | $ 172,142 | $ 113,000 |
| Flint, MI | 38 | $ 8,260,000 | $ 217,368 | $ 111,000 |
| Jackson, MI | 29 | $ 4,355,000 | $ 150,172 | $ 94,000 |
| Lansing-East Lansing, MI | 26 | $ 6,120,000 | $ 235,384 | $ 124,000 |
| Kokomo, IN | 17 | $ 1,675,000 | $ 98,529 | $ 100,000 |
| Cleveland-Elyria, OH | 13 | $ 6,665,000 | $ 512,692 | $ 233,000 |
| Michigan City-La Porte, IN | 11 | $ 3,805,000 | $ 345,909 | $ 402,000 |
| Tampa-St. Petersburg-Clearwater, FL | 8 | $ 4,100,000 | $ 512,500 | $ 577,000 |
| Columbus, IN | 7 | $ 545,000 | $ 77,857 | $ 70,000 |
| Lake County-Kenosha County, IL-WI | 7 | $ 44,835,000 | $ 6,405,000 | $ 1,384,000 |
| Cape Coral-Fort Myers, FL | 6 | $ 2,100,000 | $ 350,000 | $ 421,000 |
| Muskegon, MI | 6 | $ 1,500,000 | $ 250,000 | $ 234,000 |
| North Port-Sarasota-Bradenton, FL | 6 | $ 2,740,000 | $ 456,666 | $ 285,000 |
| Orlando-Kissimmee-Sanford, FL | 6 | $ 4,110,000 | $ 685,000 | $ 441,000 |
| Saginaw, MI | 6 | $ 1,500,000 | $ 250,000 | $ 81,000 |
| South Bend-Mishawaka, IN-MI | 6 | $ 2,360,000 | $ 393,333 | $ 155,333 |
| Terre Haute, IN | 6 | $ 770,000 | $ 128,333 | $ 114,000 |
| Elgin, IL | 5 | $ 2,155,000 | $ 431,000 | $ 319,000 |
| Elkhart-Goshen, IN | 5 | $ 1,945,000 | $ 389,000 | $ 189,000 |
| Phoenix-Mesa-Scottsdale, AZ | 5 | $ 22,235,000 | $ 4,447,000 | $ 485,000 |
| Bay City, MI | 4 | $ 1,010,000 | $ 252,500 | $ 198,000 |
| Dallas-Plano-Irving, TX | 4 | $ 1,020,000 | $ 255,000 | $ 402,000 |
| Dayton-Springfield-Kettering, OH | 4 | $ 1,430,000 | $ 357,500 | $ 527,000 |
| Deltona-Daytona Beach-Ormond Beach, FL | 4 | $ 950,000 | $ 237,500 | $ 167,000 |
| Jacksonville, FL | 4 | $ 1,990,000 | $ 497,500 | $ 182,000 |
| Kalamazoo-Portage, MI | 4 | $ 1,950,000 | $ 487,500 | $ 610,000 |
| Louisville/Jefferson County, KY-IN | 4 | $ 1,620,000 | $ 405,000 | $ 191,000 |
| Akron, OH | 3 | $ 1,285,000 | $ 428,333 | $ 171,000 |
| Atlanta-Sandy Springs-Roswell, GA | 3 | $ 1,035,000 | $ 345,000 | $ 188,000 |
| Battle Creek, MI | 3 | $ 1,865,000 | $ 621,666 | $ 395,000 |
| Bloomington, IN | 3 | $ 505,000 | $ 168,333 | $ 112,000 |
| Hilton Head Island-Bluffton-Beaufort, SC | 3 | $ 1,005,000 | $ 335,000 | $ 356,000 |
| Kankakee, IL | 3 | $ 2,635,000 | $ 878,333 | $ 122,000 |
| Miami-Miami Beach-Kendall, FL | 3 | $ 2,035,000 | $ 678,333 | $ 931,000 |
| West Palm Beach-Boca Raton-Delray Beach, FL | 3 | $ 1,385,000 | $ 461,666 | $ 601,000 |
| Youngstown-Warren-Boardman, OH-PA | 3 | $ 215,000 | $ 71,666 | $ 89,000 |
| Charleston-North Charleston, SC | 2 | $ 480,000 | $ 240,000 | $ 130,000 |
| Denver-Aurora-Lakewood, CO | 2 | $ 950,000 | $ 475,000 | $ 207,000 |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | 2 | $ 1,040,000 | $ 520,000 | $ 439,000 |
| Greenville-Anderson-Mauldin, SC | 2 | $ 720,000 | $ 360,000 | $ 135,000 |
| Lakeland-Winter Haven, FL | 2 | $ 870,000 | $ 435,000 | $ 195,000 |
| Lexington-Fayette, KY | 2 | $ 500,000 | $ 250,000 | $ 114,000 |
| Los Angeles-Long Beach-Glendale, CA | 2 | $ 650,000 | $ 325,000 | $ 149,000 |
| Midland, MI | 2 | $ 780,000 | $ 390,000 | $ 172,000 |
| Naples-Immokalee-Marco Island, FL | 2 | $ 2,010,000 | $ 1,005,000 | $ 568,000 |
| Nashville-Davidson--Murfreesboro--Franklin, TN | 2 | $ 600,000 | $ 300,000 | $ 111,000 |
| Peoria, IL | 2 | $ 620,000 | $ 310,000 | $ 237,000 |
| Springfield, OH | 2 | $ 1,610,000 | $ 805,000 | $ 221,000 |
| Auburn-Opelika, AL | 1 | $ 245,000 | $ 245,000 | $ 550,000 |
| Baltimore-Columbia-Towson, MD | 1 | $ 425,000 | $ 425,000 | $ 205,000 |
| Birmingham-Hoover, AL | 1 | $ 75,000 | $ 75,000 | $ 44,000 |
| Bloomington, IL | 1 | $ 225,000 | $ 225,000 | $ 164,000 |
| Bremerton-Silverdale, WA | 1 | $ 605,000 | $ 605,000 | $ 157,000 |
| Charlotte-Concord-Gastonia, NC-SC | 1 | $ 505,000 | $ 505,000 | $ 176,000 |
| Charlottesville, VA | 1 | $ 505,000 | $ 505,000 | $ 265,000 |
| Daphne-Fairhope-Foley, AL | 1 | $ 285,000 | $ 285,000 | $ 125,000 |
| Decatur, IL | 1 | $ 175,000 | $ 175,000 | $ 82,000 |
| Duluth, MN-WI | 1 | $ 215,000 | $ 215,000 | $ 0 |
| Durham-Chapel Hill, NC | 1 | $ 95,000 | $ 95,000 | $ 131,000 |
| Evansville, IN-KY | 1 | $ 125,000 | $ 125,000 | $ 50,000 |
| Fort Worth-Arlington, TX | 1 | $ 315,000 | $ 315,000 | $ 195,000 |
| Huntington-Ashland, WV-KY-OH | 1 | $ 315,000 | $ 315,000 | $ 440,000 |
| Kingsport-Bristol-Bristol, TN-VA | 1 | $ 75,000 | $ 75,000 | $ 57,000 |
| Lima, OH | 1 | $ 175,000 | $ 175,000 | $ 45,000 |
| Little Rock-North Little Rock-Conway, AR | 1 | $ 325,000 | $ 325,000 | $ 116,000 |
| Lynchburg, VA | 1 | $ 215,000 | $ 215,000 | $ 84,000 |
| Manhattan, KS | 1 | $ 165,000 | $ 165,000 | $ 367,000 |
| Mansfield, OH | 1 | $ 85,000 | $ 85,000 | $ 61,000 |
| Minneapolis-St. Paul-Bloomington, MN-WI | 1 | $ 355,000 | $ 355,000 | $ 180,000 |
| New York-Newark, NY | 1 | $ 285,000 | $ 285,000 | $ 142,000 |
| Niles-Benton Harbor, MI | 1 | $ 155,000 | $ 155,000 | $ 123,000 |
| Ocala, FL | 1 | $ 495,000 | $ 495,000 | $ 118,000 |
| Panama City, FL | 1 | $ 325,000 | $ 325,000 | $ 104,000 |
| Pensacola-Ferry Pass-Brent, FL | 1 | $ 605,000 | $ 605,000 | $ 1,490,000 |
| Pittsburgh, PA | 1 | $ 115,000 | $ 115,000 | $ 187,000 |
| Port St. Lucie, FL | 1 | $ 205,000 | $ 205,000 | $ 14,000 |
| Portland-South Portland, ME | 1 | $ 1,395,000 | $ 1,395,000 | $ 2,298,000 |
| Providence-Warwick, RI-MA | 1 | $ 595,000 | $ 595,000 | $ 257,000 |
| Raleigh, NC | 1 | $ 475,000 | $ 475,000 | $ 150,000 |
| Roanoke, VA | 1 | $ 235,000 | $ 235,000 | $ 366,000 |
| Rochester, NY | 1 | $ 105,000 | $ 105,000 | $ 154,000 |
| Sebastian-Vero Beach, FL | 1 | $ 905,000 | $ 905,000 | $ 752,000 |
| St. Louis, MO-IL | 1 | $ 625,000 | $ 625,000 | $ 223,000 |
| Stockton-Lodi, CA | 1 | $ 105,000 | $ 105,000 | $ 93,000 |
| Sumter, SC | 1 | $ 2,205,000 | $ 2,205,000 | $ 0 |
| The Villages, FL | 1 | $ 235,000 | $ 235,000 | $ 73,000 |
| Tucson, AZ | 1 | $ 325,000 | $ 325,000 | $ 0 |
| Utica-Rome, NY | 1 | $ 205,000 | $ 205,000 | $ 130,000 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 1 | $ 405,000 | $ 405,000 | $ 236,000 |
| Washington-Baltimore-Arlington, DC | 1 | $ 805,000 | $ 805,000 | $ 178,000 |
| Weirton-Steubenville, WV-OH | 1 | $ 25,000 | $ 25,000 | $ 44,000 |
Mortgage Loan Application Detail Totals for First Merchants Bank in 2023
Loan Purpose |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Home Purchase | 3,933 | $1,123,675,000 | $285,000 | $31,905,000 | $133,000 | $3,448,000 |
| Refinancing | 2,029 | $333,245,000 | $164,000 | $15,005,000 | $132,000 | $4,309,000 |
| Other Purpose | 1,895 | $199,385,000 | $105,000 | $3,005,000 | $135,000 | $4,853,000 |
| Home Improvement | 919 | $89,725,000 | $97,000 | $10,205,000 | $115,000 | $2,228,000 |
| Cash-out Refinancing | 273 | $67,795,000 | $248,000 | $2,345,000 | $134,000 | $2,452,000 |
| Not Applicable | 1 | $265,000 | $265,000 | $265,000 | $0 | $0 |
Applicant Race |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| White | 6,129 | $1,135,675,000 | $185,000 | $3,405,000 | $135,000 | $4,853,000 |
| Not Provided | 955 | $169,035,000 | $177,000 | $3,005,000 | $176,000 | $4,309,000 |
| Black or African American | 704 | $100,890,000 | $143,000 | $2,405,000 | $81,000 | $1,160,000 |
| Hispanic | 530 | $91,440,000 | $172,000 | $935,000 | $88,000 | $650,000 |
| Asian | 354 | $67,990,000 | $192,000 | $1,665,000 | $110,000 | $1,557,000 |
| Not applicable | 289 | $218,615,000 | $756,000 | $31,905,000 | $0 | $0 |
| American Indian or Alaskan Native | 31 | $5,535,000 | $178,000 | $755,000 | $87,000 | $263,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $55,000 | $55,000 | $55,000 | $37,000 | $37,000 |
Loan Type |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 8,717 | $1,749,515,000 | $200,000 | $31,905,000 | $134,000 | $4,853,000 |
| FHA-insured (Federal Housing Administration) | 274 | $51,040,000 | $186,000 | $525,000 | $70,000 | $541,000 |
| VA-guaranteed (Veterans Administration) | 31 | $9,245,000 | $298,000 | $715,000 | $117,000 | $618,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 28 | $4,290,000 | $153,000 | $365,000 | $58,000 | $100,000 |
Outcome |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Loan Originated | 5,739 | $1,244,965,000 | $216,000 | $31,905,000 | $142,000 | $4,853,000 |
| Application Denied By Financial Institution | 1,403 | $156,265,000 | $111,000 | $2,435,000 | $83,000 | $1,586,000 |
| Application Withdrawn By Applicant | 1,101 | $253,495,000 | $230,000 | $6,015,000 | $140,000 | $2,774,000 |
| File Closed For Incompleteness | 415 | $72,175,000 | $173,000 | $2,285,000 | $161,000 | $4,309,000 |
| Application Approved But Not Accepted | 124 | $24,370,000 | $196,000 | $4,455,000 | $115,000 | $1,148,000 |
| Preapproval Denied by Financial Institution | 116 | $29,540,000 | $254,000 | $3,005,000 | $84,000 | $1,193,000 |
| Preapproval Approved but not Accepted | 81 | $21,685,000 | $267,000 | $1,205,000 | $102,000 | $589,000 |
| Loan Purchased By The Institution | 71 | $11,595,000 | $163,000 | $525,000 | $60,000 | $185,000 |
Denial Reason |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Not applicable | 7,531 | $1,628,285,000 | $216,000 | $31,905,000 | $141,000 | $4,853,000 |
| Debt-To-Income Ratio | 873 | $102,755,000 | $117,000 | $2,435,000 | $69,000 | $728,000 |
| Credit History | 368 | $35,440,000 | $96,000 | $2,205,000 | $87,000 | $688,000 |
| Collateral | 146 | $16,460,000 | $112,000 | $985,000 | $115,000 | $1,256,000 |
| Unverifiable Information | 46 | $10,770,000 | $234,000 | $1,505,000 | $144,000 | $1,586,000 |
| Other | 43 | $9,635,000 | $224,000 | $3,005,000 | $145,000 | $1,193,000 |
| Credit Application Incomplete | 22 | $6,880,000 | $312,000 | $1,445,000 | $108,000 | $451,000 |
| Employment History | 21 | $3,865,000 | $184,000 | $495,000 | $66,000 | $187,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into First Merchants Bank's 2023 lending activity. By analyzing detailed data on mortgage applications, total loan amounts, applicant incomes, loan purposes, and approval rates, industry professionals, researchers, and analysts can gain a clear understanding of this lender's role in the mortgage market.
This in-depth HMDA data allows real estate experts, financial analysts, and policymakers to track lending trends, evaluate borrower demographics,
and assess First Merchants Bank's mortgage approval patterns.
Utilize this powerful dataset to analyze market performance, compare lending practices, and make data-driven decisions in the ever-changing mortgage industry.
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