401(k) · DOL Form 5500 · 2023

Merchants Bancorp 401(k) Plan

Data updated 2026-08-25

$36M
Total assets Below avg plan size
576
Participants Below avg headcount
82nd
Percentile by assets National rank
$62,223
Avg per participant Low balance/head
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Official DOL plan name: Merchants Bancorp 401(k) Plan · Sponsored by Merchants Bancorp · Indiana · Finance & Insurance

$36M in assets, 576 participants

Merchants Bancorp's Merchants Bancorp 401(k) Plan reported $36M in total assets and 576 participants in its 2023 DOL Form 5500 filing, ranking in the 82nd 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.

  • #6,382 in Finance & Insurance (8,869 peers)

Where Merchants Bancorp 401(k) Plan sits by assets

Merchants Bancorp 401(k) Plan sits in the top quartile of all filed plans by assets, $36M for 576 participants (~$62,223/participant), up 51.1% in 2023.

#6,382
in Finance & Insurance (8,869 peers)
+51.1%
assets growth YoY
0.4×
vs typical plan assets (national mean)

Merchants Bancorp 401(k) Plan's outsized position by total assets

Merchants Bancorp 401(k) Plan vs every filed plan by assets

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

$35,840,567 Top 18% higher than 82% 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 401(k) 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 401(k) Plan sits mid-pack in the medium band (576 participants).

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • Merchants Bancorp 401(k) Plan reported net income rose from $391K in the plan year 2022 filing to $12M in the plan year 2023 filing.
  • Merchants Bancorp 401(k) Plan end-of-year assets rose from $24M in the plan year 2022 filing to $36M in the plan year 2023 filing.
  • Merchants Bancorp 401(k) Plan reported participants rose from 501 in the plan year 2022 filing to 576 in the plan year 2023 filing.

See the national 2022→2023 release diff →

EBSA filing schedule strip

Filing strip 350352710 · Merchants Bancorp PY 2023 · 401(k)

Merchants Bancorp 401(k) Plan · $36M · 576 · 82nd

  • ASSETS $36M
  • PCT 576
  • EIN 82nd
  • RANK 401(k)
  • PHOTO near Campbell Scientific, Inc. 401(k) Profit Sharing Plan
  • IND ind #6382

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 Finance & Insurance retirement plans → · Plans in Indiana →

Merchants Bancorp 401(k) Plan in the asset neighbourhood

Merchants Bancorp 401(k) Plan$36MCampbell Scientific, Inc. 401(k) Profit Sharing PlanCampbell Scientific, Inc. 40…$36MMuller Engineering Company, Inc. 401(k) PlanMuller Engineering Company, …$36MMccorvey Sheet Metal Works LP Profit Sharing Plan & TrustMccorvey Sheet Metal Works L…$36MSbera 401(k) Plan as Adopted by Watertown Savings BankSbera 401(k) Plan as Adopted…$36M
End-of-year total assets ($M) among Merchants Bancorp 401(k) Plan and nearest nationwide 401(k) peers. Source: DOL Form 5500 plan year 2023.

Scale-class filing particulars (2023)

Total Assets (Beginning of Year)$24M
Net Assets (End of Year)$36M
Net Income$12M
Employer EIN350352710
Plan Effective Date2016-01-01
Filing StatusFILING RECEIVED

Sponsor Plan History (Merchants Bancorp)

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

Nearby 401(k) Plans in Indiana

Peer 401(k) plans, same state, same plan type, ranked by total assets.

Merchants Bancorp 401(k) Plan vs. nearby 401(k) plans in Indiana, assets vs. participants Scatter plot of 6 data points. -20000020000400006000080000100000 -5051015 Total assets ($B) Participants Merchants Bancorp 401(k) Plan, Total assets ($B): 0.035840567 · Participants: 576Merchants Bancorp 401(k) PlanThe Lilly Employee 401(k) Plan, Total assets ($B): 11.133214731 · Participants: 17583The Lilly Employee 401(k) PlanElevance Health 401(k) Plan, Total assets ($B): 11.042395257 · Participants: 76590Elevance Health 401(k) PlanCummins Retirement and Savings Plan, Total assets ($B): 5.730057183 · Participants: 28381Cummins Retirement and Savings PlanIu Health 401(k) Savings Plan, Total assets ($B): 3.907792365 · Participants: 38575Iu Health 401(k) Savings PlanSteel Dynamics, Inc. Profit Sharing and Retirement Savings Plan, Total assets ($B): 2.573079703 · Participants: 9015Steel Dynamics, Inc. Profit Sharing and Retirement Savings Plan
Merchants Bancorp 401(k) Plan vs. nearby 401(k) plans in Indiana, assets vs. participants
Compare Merchants Bancorp 401(k) Plan side-by-side with 3 peers →

Merchants Bancorp 401(k) Plan's out-of-state 401(k) peers by assets and headcount

Outside Indiana, the nearest 401(k) by assets is Campbell Scientific, Inc. 401(k) Profit Sharing Plan in UT ($36M); by covered participants it is Rockwall Regional Hospital, LLC 401(k) Profit Sharing Plan and Trust in TX (576 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (576 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 401(k) Plan assets move in 2023? ▼
Merchants Bancorp 401(k) Plan surged - up 51.1% during 2023, from $24M to $36M. Reported net income was $12M.
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.
Where does Merchants Bancorp 401(k) Plan rank by assets among Form 5500 filers? ▼
Merchants Bancorp 401(k) Plan ranks in the 82nd percentile by end-of-year assets among 127,072 plans that reported assets for plan year 2023 (in the top quartile of all filed plans by assets).
Which 401(k) plans are similar in size to Merchants Bancorp 401(k) Plan? ▼
Among 401(k) plans in other states, the closest by assets is Campbell Scientific, Inc. 401(k) Profit Sharing Plan in UT ($36M, 576 participants).
Which 401(k) plans cover a similar participant headcount to Merchants Bancorp 401(k) Plan? ▼
Among 401(k) plans in other states, the closest by covered participants is Rockwall Regional Hospital, LLC 401(k) Profit Sharing Plan and Trust in TX (576 participants, N/A 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.