ESOP · DOL Form 5500 · 2023

Merchants Bancorp ESOP

Data updated 2026-08-25

$4M
Total assets Small plan by assets
505
Participants Below avg headcount
42nd
Percentile by assets National rank
$8,739
Avg per participant Low balance/head
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Official DOL plan name: Merchants Bancorp Employee Stock Ownership Plan · Sponsored by Merchants Bancorp · Indiana · Finance & Insurance

$4M in assets, 505 participants

Merchants Bancorp's Merchants Bancorp Employee Stock Ownership Plan reported $4M in total assets and 505 participants in its 2023 DOL Form 5500 filing, ranking in the 42nd percentile by assets among filed plans. Figures are as reported by the plan sponsor to the Department of Labor, not audited or endorsed by PlainRetire.

  • #2,613 in Finance & Insurance (8,869 peers)

Merchants Bancorp multi-year trail

Merchants Bancorp's plans moved +96.5% in assets from 2022 to 2024; this filing shows Merchants Bancorp Employee Stock Ownership Plan at $4M / 505 participants.

#2,613
in Finance & Insurance (8,869 peers)
+121.8%
assets growth YoY

Merchants Bancorp Employee Stock Ownership Plan's mid-pack asset rank among Finance & Insurance and all filers

Merchants Bancorp Employee Stock Ownership Plan vs every filed plan by assets

End-of-year total assets · plan year 2023 · DOL Form 5500

$4,413,229 42nd percentile higher than 42% of 127,068 filed plans

This plan $0 $2,050,000,000 every filed plan with reported assets, bucketed by value

Dashed line + filled bar = this entry, among filed plans.

Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2023

Merchants Bancorp Employee Stock Ownership Plan among mid-size filed plans by headcount

Plan-year 2023 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. Merchants Bancorp Employee Stock Ownership Plan sits mid-pack in the medium band (505 participants).

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • Merchants Bancorp Employee Stock Ownership Plan reported net income rose from $438K in the plan year 2022 filing to $2M in the plan year 2023 filing.
  • Merchants Bancorp Employee Stock Ownership Plan end-of-year assets rose from $2M in the plan year 2022 filing to $4M in the plan year 2023 filing.
  • Merchants Bancorp Employee Stock Ownership Plan reported participants rose from 427 in the plan year 2022 filing to 505 in the plan year 2023 filing.

See the national 2022→2023 release diff →

Plan-year Form 5500 strip

Filing strip 350352710 · Merchants Bancorp PY 2023 · ESOP

Merchants Bancorp Employee Stock Ownership Plan · $4M · 505 · 42nd

  • 5500 $4M
  • ASSETS 505
  • PCT 42nd
  • EIN ESOP
  • RANK near Woodland Cabinetry, Inc. Employee Stock Ownership Plan
  • PHOTO ind #2613

Stamps derive from this plan's Form 5500 line items (assets, participants, type, EIN, cohort placement) - not a quality rating of the sponsor. Read with What is an ESOP? → · Plans in Indiana →

Merchants Bancorp Employee Stock Ownership Plan in the asset neighbourhood

Merchants Bancorp Employee Stock Ownership PlanMerchants Bancorp Employee S…$4MWoodland Cabinetry, Inc. Employee Stock Ownership PlanWoodland Cabinetry, Inc. Emp…$4MStanley Tree Service Employee Stock Ownership PlanStanley Tree Service Employe…$4MTurn-Key Medical, Inc. Employee Stock Ownership Plan and TrustTurn-Key Medical, Inc. Emplo…$4MCalifornia Eastern Laboratories, Inc. Employee Stock Ownership PlanCalifornia Eastern Laborator…$4M
End-of-year total assets ($M) among Merchants Bancorp Employee Stock Ownership Plan and nearest nationwide ESOP peers. Source: DOL Form 5500 plan year 2023.

Merchants Bancorp multi-year asset trail

Sponsor-wide plan assets over time

All Merchants Bancorp plans reported in each filing year

Latest sponsor-wide plan assets
$51M 96.50859458830878% vs 2022
2024 filing year
$20M$30M$40M$50M$60M 202220232024 $25.7M $50.5M ▲ +96.5%
Year Plans Participants Total Assets
2022 2 928 $26M
2023 2 1,081 $40M
2024 2 1,201 $51M

Merchants Bancorp filing trail (2023)

Total Assets (Beginning of Year)$2M
Net Assets (End of Year)$4M
Net Income$2M
Employer EIN350352710
Plan Effective Date2020-01-01
Filing StatusFILING RECEIVED

Nearby ESOP Plans in Indiana

Peer ESOP plans, same state, same plan type, ranked by total assets.

Merchants Bancorp Employee Stock Ownership Plan vs. nearby ESOP plans in Indiana, assets vs. participants Scatter plot of 6 data points. 01000200030004000 -0.500.511.522.5 Total assets ($B) Participants Merchants Bancorp Employee Stock Ownership Plan, Total assets ($B): 0.004413229 · Participants: 505Merchants Bancorp Employee Stock Ownership PlanJasper Holdings, Inc Employee Stock Ownership Plan and Trust, Total assets ($B): 1.921766853 · Participants: 3535Jasper Holdings, Inc Employee Stock Ownership Plan and TrustUrschel Laboratories Employee Stock Ownership Plan, Total assets ($B): 0.36648086 · Participants: 487Urschel Laboratories Employee Stock Ownership PlanNibco Inc. Employee Stock Ownership Plan, Total assets ($B): 0.364505967 · Participants: 1242Nibco Inc. Employee Stock Ownership PlanSuperior Industrial Solutions, Inc. Employee Stock Ownership Plan, Total assets ($B): 0.138902309 · Participants: 363Superior Industrial Solutions, Inc. Employee Stock Ownership PlanDucharme, Mcmillen & Associates, Inc. Employee Stock Ownership Plan, Total assets ($B): 0.135390454 · Participants: 558Ducharme, Mcmillen & Associates, Inc. Employee Stock Ownership Plan
Merchants Bancorp Employee Stock Ownership Plan vs. nearby ESOP plans in Indiana, assets vs. participants
Compare Merchants Bancorp Employee Stock Ownership Plan side-by-side with 3 peers →

Merchants Bancorp Employee Stock Ownership Plan's out-of-state ESOP peers by assets and headcount

Outside Indiana, the nearest ESOP by assets is Woodland Cabinetry, Inc. Employee Stock Ownership Plan in SD ($4M); by covered participants it is Showplace Wood Products, Inc. Employee Stock Ownership Plan in SD (506 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (505 participants); asset peers above are excluded.

DOL Form 5500 plan year 2023. Asset totals can differ widely at the same headcount; neither axis is a quality rating.

Frequently Asked Questions

How did Merchants Bancorp Employee Stock Ownership Plan assets move in 2023? ▼
Merchants Bancorp Employee Stock Ownership Plan surged - up 121.8% during 2023, from $2M to $4M. Reported net income was $2M.
How have Merchants Bancorp plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Merchants Bancorp's sponsor-wide assets grew 96.5%, from $26M to $51M.
Which ESOP plans are similar in size to Merchants Bancorp Employee Stock Ownership Plan? ▼
Among ESOP plans in other states, the closest by assets is Woodland Cabinetry, Inc. Employee Stock Ownership Plan in SD ($4M, 153 participants).
Which ESOP plans cover a similar participant headcount to Merchants Bancorp Employee Stock Ownership Plan? ▼
Among ESOP plans in other states, the closest by covered participants is Showplace Wood Products, Inc. Employee Stock Ownership Plan in SD (506 participants, $99M in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2023.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 350352710.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from U.S. Department of Labor Form 5500 filings (EBSA). See our methodology for details.