ESOP · DOL Form 5500 · 2024

Merchants Bancorp ESOP

Data updated 2026-08-25

$5M
Total assets Small plan by assets
577
Participants Below avg headcount
41st
Percentile by assets National rank
$8,189
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

$5M in assets, 577 participants

Merchants Bancorp's Merchants Bancorp Employee Stock Ownership Plan reported $5M in total assets and 577 participants in its 2024 DOL Form 5500 filing, ranking in the 41st 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.

  • #2,353 in Finance & Insurance (8,549 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 $5M / 577 participants.

#2,353
in Finance & Insurance (8,549 peers)
+7.1%
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 2024 · DOL Form 5500

$4,724,972 41st percentile higher than 41% 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 Employee Stock Ownership 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 Employee Stock Ownership Plan sits mid-pack in the medium band (577 participants).

What changed between DOL Form 5500 filings

plan year 2023 → plan year 2024

  • Merchants Bancorp Employee Stock Ownership Plan reported net income fell from $2M in the plan year 2023 filing to $312K in the plan year 2024 filing.
  • Merchants Bancorp Employee Stock Ownership Plan reported participants rose from 505 in the plan year 2023 filing to 577 in the plan year 2024 filing.
  • Merchants Bancorp Employee Stock Ownership Plan end-of-year assets rose from $4M in the plan year 2023 filing to $5M in the plan year 2024 filing.

See the national 2023→2024 release diff →

Published 5500 schedule card

Filing strip 350352710 · Merchants Bancorp PY 2024 · ESOP

Merchants Bancorp Employee Stock Ownership Plan · $5M · 577 · 41st

  • RANK $5M
  • PHOTO 577
  • IND 41st
  • EOY ESOP
  • 5500 near Keystone Petroleum Equipment Employee Stock Ownership Plan
  • ASSETS ind #2353

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

Keystone Petroleum Equipment Employee Stock Ownership PlanKeystone Petroleum Equipment…$5MClark-Devon Hardware Company Employee Stock Ownership PlanClark-Devon Hardware Company…$5MMerchants Bancorp Employee Stock Ownership PlanMerchants Bancorp Employee S…$5MApplied Behavior Consultants, Inc. Employee Stock Ownership PlanApplied Behavior Consultants…$5MNautical Restaurants, Inc. Employee Stock Ownership PlanNautical Restaurants, Inc. E…$5M
End-of-year total assets ($M) among Merchants Bancorp Employee Stock Ownership Plan and nearest nationwide ESOP peers. Source: DOL Form 5500 plan year 2024.

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 (2024)

Total Assets (Beginning of Year)$4M
Net Assets (End of Year)$5M
Net Income$312K
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. -1000010002000300040005000 -0.500.511.522.5 Total assets ($B) Participants Merchants Bancorp Employee Stock Ownership Plan, Total assets ($B): 0.004724972 · Participants: 577Merchants Bancorp Employee Stock Ownership PlanJasper Holdings, Inc Employee Stock Ownership Plan and Trust, Total assets ($B): 2.185109137 · Participants: 4295Jasper Holdings, Inc Employee Stock Ownership Plan and TrustUrschel Laboratories Employee Stock Ownership Plan, Total assets ($B): 0.432438721 · Participants: 509Urschel Laboratories Employee Stock Ownership PlanNibco Inc. Employee Stock Ownership Plan, Total assets ($B): 0.376983564 · Participants: 1370Nibco Inc. Employee Stock Ownership PlanDucharme, Mcmillen & Associates, Inc. Employee Stock Ownership Plan, Total assets ($B): 0.170278352 · Participants: 622Ducharme, Mcmillen & Associates, Inc. Employee Stock Ownership PlanErmco, Inc. Employee Stock Ownership Plan, Total assets ($B): 0.151428287 · Participants: 123Ermco, 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 Keystone Petroleum Equipment Employee Stock Ownership Plan in PA ($5M); by covered participants it is Schnabel, Inc. Employee Stock Ownership Plan in VA (577 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (577 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 Employee Stock Ownership Plan assets move in 2024? ▼
Merchants Bancorp Employee Stock Ownership Plan grew at a solid clip - up 7.1% during 2024, from $4M to $5M. Reported net income was $312K.
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 Keystone Petroleum Equipment Employee Stock Ownership Plan in PA ($5M, N/A 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 Schnabel, Inc. Employee Stock Ownership Plan in VA (577 participants, $110M 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.