First Merchants Bank in Michigan vs the state
10.8%Denial rate-7.71 pts vs state
13.2%Decision denial rate-9.43 pts vs state
70.6%Origination rate+10.68 pts vs state
6.50%Median rate-0.25 pts vs state
0.06Rate spread (pts)-0.34 pts vs state
$115kMedian applicant income
1,861Loans originated
285Denied
Trend in Michigan
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 2,451 | 1,691 | 11.1% | 6.75% | #30 |
| 2024 | 2,513 | 1,746 | 11.1% | 6.80% | #33 |
| 2025 | 2,637 | 1,861 | 10.8% | 6.50% | #37 |
What First Merchants Bank lends in Michigan
By loan purpose
By loan type
Why it denied Michigan applicants
Where in Michigan
Counties with the most First Merchants Bank applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Oakland County | 879 | 652 | 77 | 8.8% |
| Wayne County | 537 | 380 | 63 | 11.7% |
| Monroe County | 342 | 214 | 80 | 23.4% |
| Washtenaw County | 315 | 223 | 19 | 6.0% |
| Macomb County | 176 | 124 | 15 | 8.5% |
| Livingston County | 75 | 53 | 7 | 9.3% |
| Kent County | 40 | 30 | 6 | 15.0% |
| Jackson County | 32 | 19 | 3 | 9.4% |
| Genesee County | 26 | 20 | 1 | 3.8% |
| Ottawa County | 22 | 14 | 2 | 9.1% |
Other large lenders in Michigan
| Lender | Grade | Applications | Denial rate | Median rate |
|---|---|---|---|---|
| Rocket Mortgage | C | 30,644 | 16.3% | 6.75% |
| United Shore Financial Services | B | 29,330 | 11.7% | 6.60% |
| The Huntington National Bank | D | 20,047 | 30.0% | 7.49% |
| Lake Michigan Credit Union | A | 16,662 | 5.6% | 6.75% |
| Fifth Third Bank | D | 11,176 | 26.4% | 7.50% |
| 21st Mortgage | F | 7,424 | 53.4% | 11.04% |
| Citizens Bank | C | 6,592 | 29.0% | 7.65% |
| Triad Financial Services | D | 6,426 | 56.1% | 8.49% |
| Union Home Mortgage | B | 5,303 | 4.3% | 6.75% |
| PNC Bank | D | 5,161 | 26.3% | 7.36% |
Frequently asked questions
Michigan: 2,637 applications in 2025, of which 1,861 were originated and 285 denied.
10.8% of all applications, or 13.2% of the applications it actually decided on. The Michigan statewide average across all lenders was 18.5%.
The median rate on loans First Merchants Bank originated in Michigan in 2025 was 6.50%, against a statewide median of 6.75%.
About this data. Figures are First Merchants Bank's own HMDA filing for properties located in Michigan, 2025. The grade is national; state-level figures are shown for context and are not separately graded. Methodology