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The Lender Report built this page from public records. Merchants Bank of Indiana has not reviewed it. Every lender's page starts this way, and it says nothing about Merchants Bank of Indiana itself. Each figure shows its source and date. Work at Merchants Bank of Indiana? You can claim this page for free.
Multifamily record
Merchants Bank of Indiana: multifamily loans made
Merchants Bank of Indiana, a bank based in Carmel, IN, made 212 multifamily loans in 2024 and 2025, $4.2B in all, in 32 states. The typical loan was about $12M, and the largest about $240M. Most were in Marion County, IN.
- Evidence
- Multifamily loans made in 2024 and 2025, HMDA
- Data as of
- HMDA 2025
- Page last changed
- November 11, 2026
- Multifamily loans
- 212
- HMDA,
- 2024 and 2025. Manufactured-home parks excluded
- Dollars
- $4.24B
- HMDA,
- Rounded amounts
- Typical loan
- $12M
- HMDA,
- Largest loan
- $240M
- HMDA,
- Rounded to 2 significant figures
- States
- 32
- HMDA,
Cite this
Source: The Lender Report, Merchants Bank of Indiana: multifamily loans made, https://lender.report/lender/merchants-bank-of-indiana-in/multifamily/, data as of December 31, 2025.
The loans, newest first
Banks report no loan-level data for office, retail, industrial or construction loans. This list shows only multifamily and SBA loans.
| Period | Place | Loan | Amount | Rate | Term | LTV | Source |
|---|---|---|---|---|---|---|---|
| 2025 | Richmond County, NY | Refinance, 150 or more units | $240M | 6.62% | 2 yr | 74% | HMDA 2025 |
| 2025 | Queens County, NY | Purchase, 150 or more units | $61M | 6.85% | 2 yr | 60% | HMDA 2025 |
| 2025 | Franklin County, OH | Purchase, 150 or more units | $60M | 6.18% | 3.5 yr | 87% | HMDA 2025 |
| 2025 | Bexar County, TX | Purchase, 150 or more units | $54M | 6.95% | 3 yr | 84% | HMDA 2025 |
| 2025 | Larimer County, CO | Purchase, 150 or more units | $51M | 6.45% | 4 yr | 80% | HMDA 2025 |
| 2025 | Montgomery County, OH | Purchase, 150 or more units | $50M | 6.5% | 3 yr | 80% | HMDA 2025 |
| 2025 | Saratoga County, NY | Purchase, 150 or more units | $50M | 8.85% | 3 yr | 64% | HMDA 2025 |
| 2025 | Boone County, IN | Purchase, 150 or more units | $47M | 6.59% | 3 yr | 58% | HMDA 2025 |
| 2025 | Clay County, MO | Purchase, 150 or more units | $47M | 6.69% | 3 yr | 62% | HMDA 2025 |
| 2025 | Gwinnett County, GA | Refinance, 150 or more units | $47M | 8.3% | 3 yr | 75% | HMDA 2025 |
| 2025 | Monroe County, IN | Purchase, 150 or more units | $47M | 6.95% | 3 yr | 67% | HMDA 2025 |
| 2025 | Palm Beach County, FL | Purchase, 150 or more units | $47M | 7.2% | 3 yr | 60% | HMDA 2025 |
| 2025 | Richmond County, NY | Refinance, 150 or more units | $45M | 7.08% | 2 yr | 65% | HMDA 2025 |
| 2025 | Madison County, AL | Refinance, 150 or more units | $44M | 6.69% | 4 yr | 80% | HMDA 2025 |
| 2025 | Hamilton County, IN | Purchase, 150 or more units | $43M | 7.03% | 3 yr | 84% | HMDA 2025 |
| 2025 | Los Angeles County, CA | Purchase, 150 or more units | $42M | 6.93% | 2.5 yr | 83% | HMDA 2025 |
| 2025 | Kent County, MI | Purchase, 150 or more units | $38M | 7.11% | 3 yr | 78% | HMDA 2025 |
| 2025 | Elkhart County, IN | Purchase, 150 or more units | $36M | 7.19% | 3 yr | 61% | HMDA 2025 |
| 2025 | Collier County, FL | Purchase, 150 or more units | $34M | 6.6% | 3 yr | 90% | HMDA 2025 |
| 2025 | Richmond County, NY | Refinance, 150 or more units | $28M | 6.87% | 2 yr | 70% | HMDA 2025 |
| 2025 | Richmond County, NY | Refinance, 150 or more units | $28M | 7.58% | 2 yr | 65% | HMDA 2025 |
| 2025 | Bronx County, NY | Improvement, 150 or more units | $26M | 7.26% | 3.5 yr | 51% | HMDA 2025 |
| 2025 | DuPage County, IL | Purchase, 50 to 99 units | $25M | 8.79% | 3 yr | 79% | HMDA 2025 |
| 2025 | Floyd County, IN | Purchase, 150 or more units | $25M | 9.36% | 2.5 yr | 66% | HMDA 2025 |
| 2025 | LaPorte County, IN | Refinance, 150 or more units | $25M | 6.68% | 4 yr | 64% | HMDA 2025 |
| 212 multifamily loans made in 2024 and 2025 | $4.24B | HMDA 2024 and 2025 | |||||
A blank means the source did not report it.
| Place | As named | Loans | Dollars |
|---|---|---|---|
| Marion County, IN | County | 20 | $333M |
| Bronx County, NY | County | 5 | $114M |
| Hancock County, IN | County | 5 | $76.0M |
| New York County, NY | County | 5 | $33.5M |
| Richmond County, NY | County | 5 | $348M |
| Allen County, IN | County | 4 | $80.0M |
| Bexar County, TX | County | 4 | $156M |
| Franklin County, OH | County | 4 | $80.8M |
| Hamilton County, IN | County | 4 | $96.0M |
| Newport News city, VA | County | 4 | $56.0M |
| Boone County, IN | County | 3 | $142M |
| Cook County, IL | County | 3 | $38.1M |
A county is named only where the public file holds 5 or more multifamily loans there in the year; otherwise the metro area or the state is.
| Loan size | Loans | Dollars |
|---|---|---|
| Under $1M | 3 | $2.62M |
| $1M to $2.5M | 10 | $20.5M |
| $2.5M to $5M | 23 | $90.1M |
| $5M to $10M | 46 | $348M |
| $10M or more | 130 | $3.78B |
| Year | Loans | Dollars | Typical loan |
|---|---|---|---|
| 2024 | 130 | $2.48B | $13M |
| 2025 | 82 | $1.77B | $11M |
| Purpose | Loans |
|---|---|
| Purchase | 127 |
| Refinance | 67 |
| Improvement | 18 |
| Units | Loans |
|---|---|
| 5 to 24 units | 3 |
| 25 to 49 units | 31 |
| 50 to 99 units | 60 |
| 100 to 149 units | 14 |
| 150 or more units | 104 |
- Merchants Bank of Indiana made 212 multifamily loans totaling $4.2B in 2024 and 2025, in 116 named places across 32 states. HMDA,
- It made 82 of them in 2025 and 130 in 2024. HMDA,
- The typical loan was about $12M, with the middle half between $7.1M and $26M. HMDA,
- The largest was about $240M. Every amount is rounded to 2 significant figures. HMDA,
- 3 loans were under $1M, and 176 were $5M or more. HMDA,
- It reported a median rate of 7.60% on 212 loans, with the middle half between 7.10% and 8.10%. HMDA,
- The median term was 3 years. HMDA,
- The median loan to value was 68%. HMDA,
- 32% of the loans were refinancings and 60% were purchases. HMDA,
- The most common property size was 150 or more units, with 104 loans. HMDA,
- Its loans were most often in Marion County, IN (20), Bronx County, NY (5) and Hancock County, IN (5). HMDA,
What we don't know
- Whether Merchants Bank of Indiana is taking new multifamily loans today.
- Its minimum or maximum loan, its fees and its other terms. HMDA reports the rate, term and loan to value, and this page shows what it reports.
- Loans on office, retail, industrial or hotel property. HMDA covers dwelling-secured loans only.
Place is a county only where the public file holds 5 or more multifamily loans of that year there, otherwise the metro area or the state. Amounts are rounded to 2 significant figures and HMDA has a year, never a date.
HMDA covers dwelling-secured loans. Manufactured-home parks are left out of every count.
Source and date appear beside each figure. Banks report balances, not loans made. Loans made come only from HMDA and SBA files. We do not audit filings and can make errors joining them. Report a problem
Figures come from public records and show the source and date beside them. Public records can be late, incomplete or wrong. A past loan does not mean a lender will make the same kind of loan today. Confirm anything important with the lender.