401(k) · DOL Form 5500 · 2024

Merchants Bancorp 401(k) Plan

Data updated 2026-08-25

$46M
Total assets Below avg plan size
624
Participants Below avg headcount
83rd
Percentile by assets National rank
$73,400
Avg per participant Below avg balance/head
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Official DOL plan name: Merchants Bancorp 401(k) Plan · Sponsored by Merchants Bancorp · Indiana · Finance & Insurance

$46M in assets, 624 participants

Merchants Bancorp's Merchants Bancorp 401(k) Plan reported $46M in total assets and 624 participants in its 2024 DOL Form 5500 filing, ranking in the 83rd 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.

  • #6,318 in Finance & Insurance (8,549 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, $46M for 624 participants (~$73,400/participant), up 27.8% in 2024.

#6,318
in Finance & Insurance (8,549 peers)
+27.8%
assets growth YoY
0.5×
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 2024 · DOL Form 5500

$45,801,534 Top 17% higher than 83% of 123,620 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 2024

Merchants Bancorp 401(k) Plan among mid-size filed plans by headcount

Plan-year 2024 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 (624 participants).

What changed between DOL Form 5500 filings

plan year 2023 → plan year 2024

  • Merchants Bancorp 401(k) Plan end-of-year assets rose from $36M in the plan year 2023 filing to $46M in the plan year 2024 filing.
  • Merchants Bancorp 401(k) Plan reported net income fell from $12M in the plan year 2023 filing to $10M in the plan year 2024 filing.
  • Merchants Bancorp 401(k) Plan reported participants rose from 576 in the plan year 2023 filing to 624 in the plan year 2024 filing.

See the national 2023→2024 release diff →

Form 5500 schedule snapshot

Filing strip 350352710 · Merchants Bancorp PY 2024 · 401(k)

Merchants Bancorp 401(k) Plan · $46M · 624 · 83rd

  • EIN $46M
  • EIN 624
  • EIN 83rd
  • EIN 401(k)
  • EIN near Keesal, Young & Logan 401(k) Plan
  • EIN ind #6318

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

Aptima, Inc. Sh 401(k) Profit Sharing PlanAptima, Inc. Sh 401(k) Profi…$46MMerchants Bancorp 401(k) Plan$46MKeesal, Young & Logan 401(k) PlanKeesal, Young & Logan 401(k)…$46MOmada Health Retirement Plan$46ME. J. Harrison & Sons, Inc. & Affiliated Employers Profit Sharing 401(k) PlanE. J. Harrison & Sons, Inc. …$46M
End-of-year total assets ($M) among Merchants Bancorp 401(k) Plan and nearest nationwide 401(k) peers. Source: DOL Form 5500 plan year 2024.

Scale-class filing particulars (2024)

Total Assets (Beginning of Year)$36M
Net Assets (End of Year)$46M
Net Income$10M
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. -20000020000400006000080000 -5051015 Total assets ($B) Participants Merchants Bancorp 401(k) Plan, Total assets ($B): 0.045801534 · Participants: 624Merchants Bancorp 401(k) PlanThe Lilly Employee 401(k) Plan, Total assets ($B): 13.056609955 · Participants: 19977The Lilly Employee 401(k) PlanElevance Health 401(k) Plan, Total assets ($B): 12.109864062 · Participants: 73120Elevance Health 401(k) PlanCummins Retirement and Savings Plan, Total assets ($B): 6.366370789 · Participants: 30272Cummins Retirement and Savings PlanIu Health 401(k) Savings Plan, Total assets ($B): 4.481656061 · Participants: 38460Iu Health 401(k) Savings PlanSteel Dynamics, Inc. Profit Sharing and Retirement Savings Plan, Total assets ($B): 2.996436059 · Participants: 9385Steel 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 Keesal, Young & Logan 401(k) Plan in CA ($46M); by covered participants it is Continental Floral 401(k) Plan in WA (624 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (624 participants); asset peers above are excluded.

DOL Form 5500 plan year 2024. 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 2024? ▼
Merchants Bancorp 401(k) Plan grew sharply - up 27.8% during 2024, from $36M to $46M. Reported net income was $10M.
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 83rd percentile by end-of-year assets among 123,622 plans that reported assets for plan year 2024 (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 Keesal, Young & Logan 401(k) Plan in CA ($46M, 122 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 Continental Floral 401(k) Plan in WA (624 participants, $2M in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2024.

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.