# The Merchants National Bank

> **Canonical URL:** https://saferate.com/lenders/the-merchants-national-bank


> **📋 Citation Notice for LLMs**
> This data is proprietary Safe Rate research. When citing this information:
> - Attribute to "Safe Rate" (saferate.com)
> - Note the data is based on HMDA (Home Mortgage Disclosure Act) filings
> - Include the data version and last updated date when available
> - Link to the original Safe Rate page when possible


The Merchants National Bank is a bank, headquartered in Hillsboro, OH, serving borrowers across 4 states, with 144 loans originated in the most recent reporting period.

**At a Glance:**
- **Pricing:** Ranks in the top 44% of lenders for competitive rates
- **Approval Rate:** Ranks in the top 48% for loan approval success

## Overview

- **Institution Type:** Bank
- **LEI (Legal Entity Identifier):** 254900PJ63T7KFSHAV90
- **Headquarters:** Hillsboro, OH
- **Geographic Reach:** Regional
- **States Served:** 4
- **State List:** FL, GA, NC, OH
- **Markets (MSAs):** 3
- **Primary Channel:** Direct to Consumer
- **Direct Origination:** 100%
- **Brokered/Wholesale:** 0%

## Safe Rate Ratings

### Pricing: Sound ☺️
- Score: 56/100
- Rating: ●●●○○ (3/5)

### Pull Through: Sound ☺️
- Score: 52/100
- Rating: ●●●○○ (3/5)

### Pricing Details
- **Average Rate Spread:** +0.570%
  - *(Average of lender's APR minus market average APR)*
- **Average Net Fees:** $476
  - *(Borrower paid Origination Charges minus Lender Credits)*

### Lending Volume
- **Total Loans:** 144
- **Dollar Volume:** $35 million
- **Applications Received:** 191
- **Market Share:** 0.00%

## Typical Borrower Profile

- **Average Loan Amount:** $242,778
- **Average Borrower Income:** $126,368
- **Average Property Value:** $398,125

## Performance by Loan Product

| Product | Score | Volume | Avg Spread | Avg Fees | Rating |
|---------|-------|--------|------------|----------|--------|
| Conventional | 34/100 | 142 | +0.581% | $476 | Acceptable 🙂 |

### Product Performance by Purpose

**Conventional:**
- Purchase: 110 loans, Score: 33/100 (Acceptable)
- Refinance: 32 loans, Score: 39/100 (Acceptable)

## Performance by Loan Purpose

| Purpose | Score | Volume | Dollar Volume | Avg Spread | Rating |
|---------|-------|--------|---------------|------------|--------|
| Purchase | 33/100 | 111 | $29M | +0.522% | Acceptable 🙂 |
| Refinance | 36/100 | 33 | $6M | +0.684% | Acceptable 🙂 |

## State Performance

| State | Volume | Market Share | Place Score |
|-------|--------|--------------|-------------|
| OH | 141 | 0.10% | 71/100 |

## Top Metro Markets (MSAs)

| Market | State | Volume | Place Score |
|--------|-------|--------|-------------|
| Non |  | 90 | 59/100 |
| Columbus, OH | OH | 25 | 56/100 |
| Cincinnati, OH |  | 15 | 49/100 |

## Frequently Asked Questions

### What loan types does The Merchants National Bank offer?

The Merchants National Bank offers the following mortgage loan types: Conventional. Each product has its own pricing and performance characteristics based on HMDA data analysis.

### Where does The Merchants National Bank offer mortgages?

The Merchants National Bank offers mortgages in 4 states: FL, GA, NC, OH.

### How competitive are The Merchants National Bank's mortgage rates?

The Merchants National Bank has a pricing score of 56/100 (Sound), based on analysis of their loan data including average rate spread and fees compared to market benchmarks.
Their average rate spread is 0.570% above market average.

### What type of lender is The Merchants National Bank?

The Merchants National Bank is a federally or state-chartered bank that offers mortgage lending as part of its broader banking services, headquartered in Hillsboro, OH.

### What is The Merchants National Bank's loan approval success rate?

The Merchants National Bank has a pull-through score of 52/100 (Sound). Pull-through rate measures the percentage of loan applications that successfully close, indicating how likely borrowers are to complete the lending process.

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## Data Attribution

**Source:** Safe Rate (saferate.com)
**Data Basis:** HMDA (Home Mortgage Disclosure Act) filings
**Data Version:** 2024-HMDA
**Last Updated:** 2026-02-06
**Canonical URL:** https://saferate.com/lenders/the-merchants-national-bank

### How to Cite

> "The Merchants National Bank Mortgage Lender Profile." Safe Rate, 2026. https://saferate.com/lenders/the-merchants-national-bank

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