Applications / Mortgage Analytics / Lenders / Indiana / The Farmers and Merchants Bank
Boswell, IN · State non-member bank · FDIC · $210 million assets · 32 loans in 2025
The Farmers and Merchants Bank's data, $215Buy the data, $2,110Get Jenner, the SAS-compatible software
32
loans originated, 2025
38
applications, 2025
1
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
The Farmers and Merchants Bank is a small Indiana lender whose loans more than doubled in 2025 but remain far fewer than in 2020.
It made 32 loans in 2025, up from 15 in 2024, while similar lenders (state non-member banks making between half and twice as many loans) were typically flat. The jump is large in proportion but small in loans. Its busiest recent year was 2020, with 239 loans, followed by 124 in 2021.
It ranked 39 of 267 lenders in Lafayette-West Lafayette, where its share rose to 0.5% from 0.3%. Purdue Federal Credit Union and First Merchants Bank lead that market. The bank has lent there since 2004 and lends in seven counties, all in Indiana.
Its loans split between home purchases (43.8%) and refinances (37.5%), with the rest for home improvement and other purposes. Its typical loan was $220,000, above the $175,000 of similar banks. On 32 loans, its shares of lending to particular borrowers and neighborhoods can swing widely from year to year, so they say little.
Similar lenders: same lender type, originations between half and twice the lender's in the data year. Written from the 2025 HMDA data and checked figure by figure against it.
FIG. 1 — LOANS ORIGINATED, 2018–2025
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. The Farmers and Merchants Bank took 38 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 43.8% · Refinance 37.5% · Other 12.5% · Home improvement 6.3%
Conventional 100.0% · of 32 loans. Purchase: buying a home. Refinance: replacing an existing mortgage, including cash-out. FHA: insured by the Federal Housing Administration. VA: guaranteed by the Department of Veterans Affairs. Conventional: neither.
SOURCE: FFIEC HMDA 2025, LOANS ORIGINATED
Where it lends, 2025
| State | Loans | Share |
|---|---|---|
| Indiana | 32 | 100.0% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Lafayette-West Lafayette | 28 |
| Lake County-Porter County-Jasper County | 1 |
| Terre Haute | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300OHTBYVLLO8NW69 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 629746 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 31843 | 2004–2017 |
Established 23 April 1903. Reported under HMDA 2004-2025.
Mergers, name changes, data editions and corrections: The Farmers and Merchants Bank's data.
The Farmers and Merchants Bank's data
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The Farmers and Merchants Bank and its peers, 2018–2025: every application in the HMDA data, cleaned and corrected, as Parquet files, with the Jenner programs that made these pages.
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Every mortgage application reported under HMDA from 1990 to 2025, cleaned and corrected, every lender followed across name changes and mergers, with the market-share and fair-lending tables behind these pages and the Jenner programs that built them: the warehouse and the datamart, as Parquet files.
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