First Merchants Bank in Florida vs the state
4.2%Denial rate-16.89 pts vs state
5.4%Decision denial rate-21.88 pts vs state
69.4%Origination rate+16.75 pts vs state
6.63%Median rate0.00 pts vs state
0.21Rate spread (pts)-0.06 pts vs state
$222kMedian applicant income
50Loans originated
3Denied
Trend in Florida
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 51 | 36 | 3.9% | 6.50% | #621 |
| 2024 | 68 | 51 | 8.8% | 6.80% | #549 |
| 2025 | 72 | 50 | 4.2% | 6.63% | #546 |
What First Merchants Bank lends in Florida
By loan purpose
By loan type
Why it denied Florida applicants
Where in Florida
Counties with the most First Merchants Bank applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Lee County | 16 | 11 | 0 | 0.0% |
| Collier County | 16 | 13 | 1 | 6.3% |
| Sarasota County | 6 | 4 | 0 | 0.0% |
| Manatee County | 5 | 4 | 0 | 0.0% |
| Sumter County | 3 | 1 | 0 | 0.0% |
| Palm Beach County | 3 | 3 | 0 | 0.0% |
| St. Johns County | 2 | 1 | 0 | 0.0% |
| Pinellas County | 2 | 1 | 0 | 0.0% |
| Brevard County | 2 | 2 | 0 | 0.0% |
| Charlotte County | 2 | 1 | 0 | 0.0% |
Other large lenders in Florida
| Lender | Grade | Applications | Denial rate | Median rate |
|---|---|---|---|---|
| United Shore Financial Services | B | 71,405 | 15.3% | 6.44% |
| Rocket Mortgage | C | 46,611 | 21.0% | 6.63% |
| Bank of America | F | 23,634 | 37.7% | 6.24% |
| Pennymac Loan Services | C | 19,516 | 14.1% | 6.50% |
| Navy Federal Credit Union | D | 19,452 | 23.2% | 7.59% |
| Crosscountry Mortgage | B | 19,103 | 5.2% | 6.75% |
| Newrez | D | 17,519 | 22.4% | 6.75% |
| Dhi Mortgage Company | B | 16,661 | 14.5% | 4.88% |
| Lennar Mortgage | A | 14,984 | 21.0% | 4.75% |
| Truist Bank | C | 14,140 | 41.5% | 6.60% |
Frequently asked questions
Florida: 72 applications in 2025, of which 50 were originated and 3 denied.
4.2% of all applications, or 5.4% of the applications it actually decided on. The Florida statewide average across all lenders was 21.1%.
The median rate on loans First Merchants Bank originated in Florida in 2025 was 6.63%, against a statewide median of 6.63%.
About this data. Figures are First Merchants Bank's own HMDA filing for properties located in Florida, 2025. The grade is national; state-level figures are shown for context and are not separately graded. Methodology