First Merchants Bank in Illinois vs the state
16.5%Denial rate-0.64 pts vs state
22.7%Decision denial rate+1.05 pts vs state
55.0%Origination rate-3.79 pts vs state
6.71%Median rate-0.04 pts vs state
0.15Rate spread (pts)-0.23 pts vs state
$156kMedian applicant income
50Loans originated
15Denied
Trend in Illinois
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 237 | 148 | 11.8% | 6.95% | #196 |
| 2024 | 190 | 90 | 24.7% | 7.30% | #232 |
| 2025 | 91 | 50 | 16.5% | 6.71% | #359 |
What First Merchants Bank lends in Illinois
By loan purpose
By loan type
Why it denied Illinois applicants
Where in Illinois
Counties with the most First Merchants Bank applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Cook County | 65 | 35 | 13 | 20.0% |
| DuPage County | 12 | 7 | 0 | 0.0% |
| Will County | 10 | 5 | 2 | 20.0% |
| Kane County | 3 | 3 | 0 | 0.0% |
| Kendall County | 1 | 0 | 0 | 0.0% |
Other large lenders in Illinois
| Lender | Grade | Applications | Denial rate | Median rate |
|---|---|---|---|---|
| Guaranteed Rate | B | 17,479 | 4.9% | 6.63% |
| Rocket Mortgage | C | 16,971 | 19.7% | 6.75% |
| United Shore Financial Services | B | 15,644 | 13.0% | 6.50% |
| JPMorgan Chase Bank | B | 13,574 | 9.7% | 6.49% |
| U.S. Bank | D | 10,076 | 38.3% | 7.00% |
| Crosscountry Mortgage | B | 8,779 | 4.5% | 6.75% |
| Fifth Third Bank | D | 8,628 | 32.1% | 7.50% |
| The Huntington National Bank | D | 8,226 | 31.9% | 6.99% |
| BMO Bank | F | 8,007 | 32.7% | 8.33% |
| Loandepot.Com | D | 7,019 | 17.7% | 6.88% |
Frequently asked questions
Illinois: 91 applications in 2025, of which 50 were originated and 15 denied.
16.5% of all applications, or 22.7% of the applications it actually decided on. The Illinois statewide average across all lenders was 17.1%.
The median rate on loans First Merchants Bank originated in Illinois in 2025 was 6.71%, against a statewide median of 6.75%.
About this data. Figures are First Merchants Bank's own HMDA filing for properties located in Illinois, 2025. The grade is national; state-level figures are shown for context and are not separately graded. Methodology