Merchants Bank, National Association
HMDA Loan Application Totals
and Mortgage Lending Details
for 2023
Merchants Bank, National Association 2023 HMDA loan application data provides key insights into its mortgage lending trends, applicant demographics, and loan distribution.
The Home Mortgage Disclosure Act (HMDA) requires lenders to report detailed loan application data, offering transparency into lending patterns.
The data reveals trends in average loan size, applicant income, and mortgage approval rates, helping consumers and analysts understand lending accessibility.
Below, explore a breakdown of loan applications by county, metro area, loan purpose, applicant race, loan type, and more.
Whether you're an industry professional, homebuyer, or researcher,
this information provides valuable insights into mortgage lending activity.
Scroll down to view the full dataset and analyze lending trends in greater detail.
| Mortgage Company & Address | Merchants Bank, National Association 102 East Third Street Winona, MN 55987 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 1,708 |
| Total Mortgage Loan Application Amount | $488,850,000 |
| Average Mortgage Loan Application Amount | $191,000 |
| Highest Mortgage Loan Application Amount | $38,865,000 |
| Average Applicant Income | $126,600 |
| Highest Applicant Income | $3,959,000 |
Explore comprehensive HMDA mortgage statistics and lending trends for 2023 with Merchants Bank, National Association. Below, you'll find key insights into this lender's mortgage activity, including total loan applications, average mortgage amounts, highest application values, and income levels of top applicants. Whether you're analyzing Merchants Bank, National Association's lending patterns or researching mortgage trends, these statistics provide valuable transparency into their loan activity.
Our HMDA dataset for 2023 breaks down Merchants Bank, National Association's mortgage applications by loan purpose, applicant race, loan type, approval outcomes, and reasons for denial. These insights help homebuyers, financial analysts, and industry professionals assess borrower demographics and lending practices, offering a clearer view of how Merchants Bank, National Association serves its applicants.
Each category highlights the total number of mortgage applications processed by Merchants Bank, National Association, total loan amounts, average mortgage values, and the highest mortgage amounts recorded. You can also review borrower income trends, including the average and highest reported applicant incomes for loans issued by this lender. Whether you're evaluating lender performance, comparing mortgage approval rates, or exploring loan options, this HMDA-backed data offers a crucial look at Merchants Bank, National Association's mortgage activity for 2023.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Winona County Minnesota | 403 | $ 61,165,000 | $ 151,000 | $ 110,000 |
| Dakota County Minnesota | 147 | $ 84,465,000 | $ 574,000 | $ 146,000 |
| Goodhue County Minnesota | 120 | $ 19,750,000 | $ 164,000 | $ 106,000 |
| La Crosse County Wisconsin | 115 | $ 26,035,000 | $ 226,000 | $ 136,000 |
| Olmsted County Minnesota | 110 | $ 20,400,000 | $ 185,000 | $ 117,000 |
| Fillmore County Minnesota | 74 | $ 11,380,000 | $ 153,000 | $ 98,000 |
| Houston County Minnesota | 64 | $ 9,790,000 | $ 152,000 | $ 111,000 |
| Hennepin County Minnesota | 58 | $ 17,730,000 | $ 305,000 | $ 303,000 |
| Rice County Minnesota | 55 | $ 11,515,000 | $ 209,000 | $ 156,000 |
| Washington County Minnesota | 38 | $ 33,540,000 | $ 882,000 | $ 228,000 |
| Buffalo County Wisconsin | 29 | $ 4,455,000 | $ 153,000 | $ 114,000 |
| Ramsey County Minnesota | 28 | $ 9,340,000 | $ 333,000 | $ 160,000 |
| Scott County Minnesota | 26 | $ 7,380,000 | $ 283,000 | $ 236,000 |
| Wabasha County Minnesota | 25 | $ 3,685,000 | $ 147,000 | $ 108,000 |
| Cass County Minnesota | 21 | $ 5,445,000 | $ 259,000 | $ 148,000 |
| Eau Claire County Wisconsin | 21 | $ 22,765,000 | $ 1,084,000 | $ 124,000 |
| Trempealeau County Wisconsin | 20 | $ 4,050,000 | $ 202,000 | $ 111,000 |
| Crow Wing County Minnesota | 18 | $ 5,770,000 | $ 320,000 | $ 134,000 |
| Dodge County Minnesota | 16 | $ 2,420,000 | $ 151,000 | $ 78,000 |
| Hubbard County Minnesota | 12 | $ 3,010,000 | $ 250,000 | $ 114,000 |
| Wright County Minnesota | 12 | $ 20,280,000 | $ 1,690,000 | $ 110,000 |
| Anoka County Minnesota | 10 | $ 3,500,000 | $ 350,000 | $ 358,000 |
| Lyon County Minnesota | 10 | $ 1,920,000 | $ 192,000 | $ 81,000 |
| St. Croix County Wisconsin | 10 | $ 3,120,000 | $ 312,000 | $ 193,000 |
| Pennington County South Dakota | 9 | $ 2,585,000 | $ 287,000 | $ 0 |
| Carver County Minnesota | 8 | $ 3,500,000 | $ 437,000 | $ 204,000 |
| Otter Tail County Minnesota | 7 | $ 1,645,000 | $ 235,000 | $ 127,000 |
| Pierce County Wisconsin | 7 | $ 2,175,000 | $ 310,000 | $ 125,000 |
| Freeborn County Minnesota | 6 | $ 970,000 | $ 161,000 | $ 69,000 |
| Mille Lacs County Minnesota | 6 | $ 850,000 | $ 141,000 | $ 68,000 |
| Sherburne County Minnesota | 6 | $ 1,340,000 | $ 223,000 | $ 197,000 |
| Polk County Wisconsin | 6 | $ 1,730,000 | $ 288,000 | $ 175,000 |
| Le Sueur County Minnesota | 5 | $ 2,035,000 | $ 407,000 | $ 342,000 |
| Mower County Minnesota | 5 | $ 1,465,000 | $ 293,000 | $ 154,000 |
| Lawrence County South Dakota | 5 | $ 1,795,000 | $ 359,000 | $ 0 |
| Chippewa County Wisconsin | 5 | $ 865,000 | $ 173,000 | $ 159,000 |
| Lee County Florida | 4 | $ 3,600,000 | $ 900,000 | $ 506,000 |
| Aitkin County Minnesota | 4 | $ 850,000 | $ 212,000 | $ 120,000 |
| Blue Earth County Minnesota | 4 | $ 1,170,000 | $ 292,000 | $ 523,000 |
| Douglas County Minnesota | 4 | $ 1,200,000 | $ 300,000 | $ 110,000 |
| Isanti County Minnesota | 4 | $ 720,000 | $ 180,000 | $ 310,000 |
| Redwood County Minnesota | 4 | $ 520,000 | $ 130,000 | $ 48,000 |
| St. Louis County Minnesota | 4 | $ 690,000 | $ 172,000 | $ 96,000 |
| Todd County Minnesota | 4 | $ 680,000 | $ 170,000 | $ 59,000 |
| Cass County North Dakota | 4 | $ 1,460,000 | $ 365,000 | $ 168,000 |
| Dane County Wisconsin | 4 | $ 13,450,000 | $ 3,362,000 | $ 185,000 |
| Monroe County Wisconsin | 4 | $ 170,000 | $ 42,000 | $ 68,000 |
| Vernon County Wisconsin | 4 | $ 600,000 | $ 150,000 | $ 130,000 |
| Allamakee County Iowa | 3 | $ 495,000 | $ 165,000 | $ 116,000 |
| Winneshiek County Iowa | 3 | $ 625,000 | $ 208,000 | $ 98,000 |
| Becker County Minnesota | 3 | $ 795,000 | $ 265,000 | $ 84,000 |
| Kittson County Minnesota | 3 | $ 295,000 | $ 98,000 | $ 78,000 |
| Steele County Minnesota | 3 | $ 685,000 | $ 228,000 | $ 89,000 |
| Wadena County Minnesota | 3 | $ 605,000 | $ 201,000 | $ 73,000 |
| Mercer County North Dakota | 3 | $ 805,000 | $ 268,000 | $ 163,000 |
| Butte County South Dakota | 3 | $ 905,000 | $ 301,000 | $ 0 |
| Douglas County Wisconsin | 3 | $ 1,985,000 | $ 661,000 | $ 109,000 |
| Dunn County Wisconsin | 3 | $ 1,425,000 | $ 475,000 | $ 135,000 |
| Juneau County Wisconsin | 3 | $ 2,075,000 | $ 691,000 | $ 155,000 |
| Sauk County Wisconsin | 3 | $ 4,135,000 | $ 1,378,000 | $ 167,000 |
| Maricopa County Arizona | 2 | $ 660,000 | $ 330,000 | $ 77,000 |
| Brevard County Florida | 2 | $ 710,000 | $ 355,000 | $ 338,000 |
| Sarasota County Florida | 2 | $ 1,060,000 | $ 530,000 | $ 273,000 |
| Hancock County Iowa | 2 | $ 300,000 | $ 150,000 | $ 59,000 |
| Benton County Minnesota | 2 | $ 580,000 | $ 290,000 | $ 120,000 |
| Chisago County Minnesota | 2 | $ 670,000 | $ 335,000 | $ 125,000 |
| Lincoln County Minnesota | 2 | $ 320,000 | $ 160,000 | $ 78,000 |
| Marshall County Minnesota | 2 | $ 370,000 | $ 185,000 | $ 205,000 |
| Pine County Minnesota | 2 | $ 1,020,000 | $ 510,000 | $ 207,000 |
| Rock County Minnesota | 2 | $ 550,000 | $ 275,000 | $ 77,000 |
| Stearns County Minnesota | 2 | $ 400,000 | $ 200,000 | $ 98,000 |
| Traverse County Minnesota | 2 | $ 260,000 | $ 130,000 | $ 146,000 |
| Watonwan County Minnesota | 2 | $ 140,000 | $ 70,000 | $ 49,000 |
| Cascade County Montana | 2 | $ 2,170,000 | $ 1,085,000 | $ 133,000 |
| Nuckolls County Nebraska | 2 | $ 460,000 | $ 230,000 | $ 183,000 |
| Grand Forks County North Dakota | 2 | $ 530,000 | $ 265,000 | $ 96,000 |
| McLean County North Dakota | 2 | $ 200,000 | $ 100,000 | $ 54,000 |
| Pembina County North Dakota | 2 | $ 110,000 | $ 55,000 | $ 81,000 |
| Stutsman County North Dakota | 2 | $ 330,000 | $ 165,000 | $ 65,000 |
| Walsh County North Dakota | 2 | $ 400,000 | $ 200,000 | $ 105,000 |
| Meade County South Dakota | 2 | $ 690,000 | $ 345,000 | $ 0 |
| Barron County Wisconsin | 2 | $ 640,000 | $ 320,000 | $ 119,000 |
| Jackson County Wisconsin | 2 | $ 470,000 | $ 235,000 | $ 106,000 |
| Racine County Wisconsin | 2 | $ 700,000 | $ 350,000 | $ 132,000 |
| Sawyer County Wisconsin | 2 | $ 290,000 | $ 145,000 | $ 154,000 |
| Waukesha County Wisconsin | 2 | $ 520,000 | $ 260,000 | $ 158,000 |
| Crook County Wyoming | 2 | $ 1,100,000 | $ 550,000 | $ 0 |
| Fairbanks North Star County Alaska | 1 | $ 255,000 | $ 255,000 | $ 80,000 |
| Navajo County Arizona | 1 | $ 725,000 | $ 725,000 | $ 298,000 |
| Pima County Arizona | 1 | $ 255,000 | $ 255,000 | $ 0 |
| Adams County Colorado | 1 | $ 35,000 | $ 35,000 | $ 71,000 |
| Charlotte County Florida | 1 | $ 305,000 | $ 305,000 | $ 239,000 |
| Collier County Florida | 1 | $ 4,905,000 | $ 4,905,000 | $ 0 |
| Duval County Florida | 1 | $ 165,000 | $ 165,000 | $ 115,000 |
| Pinellas County Florida | 1 | $ 435,000 | $ 435,000 | $ 106,000 |
| Chatham County Georgia | 1 | $ 185,000 | $ 185,000 | $ 50,000 |
| Bonner County Idaho | 1 | $ 505,000 | $ 505,000 | $ 512,000 |
| Clinton County Iowa | 1 | $ 75,000 | $ 75,000 | $ 101,000 |
| Franklin County Iowa | 1 | $ 275,000 | $ 275,000 | $ 86,000 |
| Guthrie County Iowa | 1 | $ 55,000 | $ 55,000 | $ 70,000 |
| Jefferson County Iowa | 1 | $ 55,000 | $ 55,000 | $ 189,000 |
| Lee County Iowa | 1 | $ 105,000 | $ 105,000 | $ 186,000 |
| Marquette County Michigan | 1 | $ 355,000 | $ 355,000 | $ 153,000 |
| Brown County Minnesota | 1 | $ 185,000 | $ 185,000 | $ 156,000 |
| Clay County Minnesota | 1 | $ 365,000 | $ 365,000 | $ 261,000 |
| Cottonwood County Minnesota | 1 | $ 445,000 | $ 445,000 | $ 153,000 |
| Kanabec County Minnesota | 1 | $ 245,000 | $ 245,000 | $ 97,000 |
| Koochiching County Minnesota | 1 | $ 365,000 | $ 365,000 | $ 78,000 |
| Murray County Minnesota | 1 | $ 155,000 | $ 155,000 | $ 52,000 |
| Nicollet County Minnesota | 1 | $ 155,000 | $ 155,000 | $ 72,000 |
| Norman County Minnesota | 1 | $ 205,000 | $ 205,000 | $ 58,000 |
| Pipestone County Minnesota | 1 | $ 315,000 | $ 315,000 | $ 288,000 |
| Roseau County Minnesota | 1 | $ 35,000 | $ 35,000 | $ 91,000 |
| Sibley County Minnesota | 1 | $ 235,000 | $ 235,000 | $ 135,000 |
| Waseca County Minnesota | 1 | $ 105,000 | $ 105,000 | $ 69,000 |
| Yellow Medicine County Minnesota | 1 | $ 55,000 | $ 55,000 | $ 32,000 |
| Christian County Missouri | 1 | $ 205,000 | $ 205,000 | $ 66,000 |
| Yellowstone County Montana | 1 | $ 185,000 | $ 185,000 | $ 158,000 |
| Cass County Nebraska | 1 | $ 135,000 | $ 135,000 | $ 56,000 |
| Seward County Nebraska | 1 | $ 245,000 | $ 245,000 | $ 185,000 |
| Iredell County North Carolina | 1 | $ 445,000 | $ 445,000 | $ 117,000 |
| Burleigh County North Dakota | 1 | $ 405,000 | $ 405,000 | $ 151,000 |
| Oliver County North Dakota | 1 | $ 355,000 | $ 355,000 | $ 99,000 |
| Allegheny County Pennsylvania | 1 | $ 245,000 | $ 245,000 | $ 115,000 |
| Georgetown County South Carolina | 1 | $ 275,000 | $ 275,000 | $ 0 |
| Brown County South Dakota | 1 | $ 195,000 | $ 195,000 | $ 80,000 |
| Fall River County South Dakota | 1 | $ 115,000 | $ 115,000 | $ 0 |
| Minnehaha County South Dakota | 1 | $ 255,000 | $ 255,000 | $ 64,000 |
| Adams County Wisconsin | 1 | $ 245,000 | $ 245,000 | $ 137,000 |
| Bayfield County Wisconsin | 1 | $ 205,000 | $ 205,000 | $ 184,000 |
| Clark County Wisconsin | 1 | $ 475,000 | $ 475,000 | $ 114,000 |
| Crawford County Wisconsin | 1 | $ 235,000 | $ 235,000 | $ 228,000 |
| Forest County Wisconsin | 1 | $ 275,000 | $ 275,000 | $ 575,000 |
| Marathon County Wisconsin | 1 | $ 1,215,000 | $ 1,215,000 | $ 0 |
| Pepin County Wisconsin | 1 | $ 175,000 | $ 175,000 | $ 62,000 |
| Rock County Wisconsin | 1 | $ 155,000 | $ 155,000 | $ 31,000 |
| Rusk County Wisconsin | 1 | $ 405,000 | $ 405,000 | $ 258,000 |
| Vilas County Wisconsin | 1 | $ 1,115,000 | $ 1,115,000 | $ 969,000 |
| Washburn County Wisconsin | 1 | $ 35,000 | $ 35,000 | $ 71,000 |
| Wood County Wisconsin | 1 | $ 245,000 | $ 245,000 | $ 64,000 |
Mortgage Loan Application Detail Totals for Merchants Bank, National Association 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 | 901 | $381,295,000 | $423,000 | $38,865,000 | $142,000 | $1,800,000 |
| Refinancing | 307 | $62,065,000 | $202,000 | $18,705,000 | $138,000 | $3,959,000 |
| Other Purpose | 238 | $18,530,000 | $77,000 | $455,000 | $123,000 | $816,000 |
| Home Improvement | 183 | $12,045,000 | $65,000 | $1,885,000 | $126,000 | $731,000 |
| Cash-out Refinancing | 79 | $14,915,000 | $188,000 | $535,000 | $104,000 | $615,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $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 | 1,405 | $266,175,000 | $189,000 | $2,365,000 | $128,000 | $1,350,000 |
| Not applicable | 137 | $187,785,000 | $1,370,000 | $38,865,000 | $0 | $0 |
| Not Provided | 118 | $25,570,000 | $216,000 | $1,125,000 | $224,000 | $3,959,000 |
| Hispanic | 23 | $3,935,000 | $171,000 | $705,000 | $91,000 | $310,000 |
| Asian | 15 | $2,845,000 | $189,000 | $525,000 | $133,000 | $277,000 |
| Black or African American | 6 | $1,290,000 | $215,000 | $565,000 | $112,000 | $163,000 |
| American Indian or Alaskan Native | 4 | $1,250,000 | $312,000 | $615,000 | $160,000 | $222,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
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) | 1,668 | $477,240,000 | $286,000 | $38,865,000 | $136,000 | $3,959,000 |
| FHA-insured (Federal Housing Administration) | 17 | $4,255,000 | $250,000 | $525,000 | $104,000 | $240,000 |
| VA-guaranteed (Veterans Administration) | 17 | $6,135,000 | $360,000 | $855,000 | $102,000 | $180,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 6 | $1,220,000 | $203,000 | $305,000 | $64,000 | $90,000 |
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 | 1,456 | $397,570,000 | $273,000 | $38,865,000 | $138,000 | $3,959,000 |
| Application Withdrawn By Applicant | 142 | $70,340,000 | $495,000 | $17,905,000 | $129,000 | $512,000 |
| Application Denied By Financial Institution | 69 | $10,655,000 | $154,000 | $705,000 | $77,000 | $271,000 |
| Loan Purchased By The Institution | 23 | $7,445,000 | $323,000 | $725,000 | $0 | $0 |
| Application Approved But Not Accepted | 16 | $2,460,000 | $153,000 | $355,000 | $95,000 | $192,000 |
| File Closed For Incompleteness | 2 | $380,000 | $190,000 | $335,000 | $107,000 | $162,000 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
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 | 1,639 | $478,195,000 | $291,000 | $38,865,000 | $137,000 | $3,959,000 |
| Debt-To-Income Ratio | 30 | $5,260,000 | $175,000 | $705,000 | $76,000 | $245,000 |
| Credit History | 20 | $2,570,000 | $128,000 | $375,000 | $96,000 | $271,000 |
| Collateral | 12 | $1,710,000 | $142,000 | $385,000 | $67,000 | $191,000 |
| Employment History | 3 | $595,000 | $198,000 | $325,000 | $22,000 | $38,000 |
| Other | 2 | $200,000 | $100,000 | $155,000 | $131,000 | $131,000 |
| Unverifiable Information | 1 | $155,000 | $155,000 | $155,000 | $42,000 | $42,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $165,000 | $165,000 | $165,000 | $58,000 | $58,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Merchants Bank, National Association'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 Merchants Bank, National Association'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.
For a list of all lenders in Minnesota, download the full spreadsheet
with aggregated HMDA statistics today.