Mercantile Bank in Florida vs the state
13.3%Denial rate-7.73 pts vs state
14.3%Decision denial rate-12.95 pts vs state
80.0%Origination rate+27.31 pts vs state
7.00%Median rate+0.38 pts vs state
0.41Rate spread (pts)+0.15 pts vs state
$325kMedian applicant income
12Loans originated
2Denied
Trend in Florida
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 18 | 11 | 11.1% | 7.75% | #852 |
| 2024 | 15 | 7 | 13.3% | 6.75% | #835 |
| 2025 | 15 | 12 | 13.3% | 7.00% | #824 |
What Mercantile Bank lends in Florida
By loan purpose
By loan type
Why it denied Florida applicants
Where in Florida
Counties with the most Mercantile Bank applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Charlotte County | 4 | 2 | 1 | 25.0% |
| Lee County | 3 | 3 | 0 | 0.0% |
| Monroe County | 2 | 2 | 0 | 0.0% |
| Walton County | 2 | 2 | 0 | 0.0% |
| Pinellas County | 1 | 1 | 0 | 0.0% |
| Sarasota County | 1 | 0 | 1 | 100.0% |
| Sumter County | 1 | 1 | 0 | 0.0% |
| Collier County | 1 | 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: 15 applications in 2025, of which 12 were originated and 2 denied.
13.3% of all applications, or 14.3% of the applications it actually decided on. The Florida statewide average across all lenders was 21.1%.
The median rate on loans Mercantile Bank originated in Florida in 2025 was 7.00%, against a statewide median of 6.63%.
About this data. Figures are Mercantile 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