# Merchants Bancorp competitors: and the alternatives

Source: https://www.bankingnewsai.com/banks/merchants-indiana/competitors
Last updated: Oct 19, 2026

*Part of the [Merchants Bancorp AI strategy profile](https://www.bankingnewsai.com/banks/merchants-indiana). Peer group: Customers Bancorp, Texas Capital Bancshares, Western Alliance Bancorporation, Axos Financial, Live Oak Bancshares, The Bancorp, Inc., Hilltop Holdings.*

## Who are Merchants Bancorp's competitors, and what are the alternatives?

Merchants Bancorp's 2025 10-K, filed February 27, 2026, says it competes in commercial and retail banking, SBA, residential mortgages, warehouse lending and multifamily FHA, Fannie Mae and Freddie Mac affordable lending, against community banks, thrifts, credit unions, non-depository lenders, large banks, mortgage bankers and multifamily origination businesses, and increasingly against online banks and lending platforms. Its three businesses each have different rivals. In mortgage warehousing, where it funded $66.3 billion of loans in 2025 and calls itself one of the largest warehouse lenders in the country, Texas Capital, Western Alliance and Customers all lend to mortgage companies. In agency multifamily lending and servicing, where Merchants is one of the largest GSE multifamily lenders, the field is led by non-banks and the commercial real estate arms of big banks: Walker & Dunlop, the sixth-largest commercial and multifamily servicer with $144.0 billion, names Wells Fargo, PNC Real Estate and Berkadia among its competitors. In tax-credit syndication, Walker & Dunlop ranks itself ninth and names Raymond James among its rivals. For deposits Merchants has only seven Indiana branches, so it competes nationally online with branchless banks such as Axos and with fintechs such as Chime. In SBA lending, where Merchants is a Preferred Lender in four states, Live Oak is making small loans on an AI origination platform. ([Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm), [SEC EDGAR](https://www.sec.gov/Archives/edgar/data/1077428/000107742826000010/tcbi-20251231.htm), [Western Alliance Bancorporation (SEC filings)](https://www.sec.gov/Archives/edgar/data/1212545/000162828026010336/wal-20251231.htm), [Customers Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1488813/000148881326000029/cubi-20251231.htm), [Walker & Dunlop (SEC filings)](https://www.sec.gov/Archives/edgar/data/1497770/000110465926020249/wd-20251231x10k.htm), [Axos Financial (Business Wire)](https://businesswire.com/news/home/20260730727486/en/Axos-Financial-Inc.-Reports-Fiscal-Year-2026-Results), [Chime](https://investors.chime.com/news-releases/news-release-details/chime-reports-second-quarter-2026-financial-results), [American Banker](https://www.americanbanker.com/news/how-ai-is-quickly-overhauling-one-segment-of-sba-lending))

## What does Merchants Bank of Indiana say about its competition?

"We compete in several areas, including commercial and retail banking, SBA, residential mortgages, warehouse lending, and multi-family FHA, Fannie Mae, and Freddie Mac affordable loan originations in the multi-family and healthcare sectors. These industries are highly competitive, and the Company faces strong direct competition for deposits, loans, loan originations, and other financial-related services. We compete with other non-depository financial institutions and community banks, thrifts and credit unions. Although some of these competitors are situated locally, others have statewide or regional presence. In addition, we compete with large banks and other financial intermediaries, such as consumer finance companies, brokerage firms, mortgage banking companies, business leasing and finance companies, insurance companies, multi-family loan origination businesses, securities firms, mutual funds and certain government agencies as well as major retailers, all actively engaged in providing various types of loans and other financial services." (Item 1, "Competition", 2025 Form 10-K, filed February 27, 2026.) ([Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm))

"Additionally, we face growing competition from online businesses with few or no physical locations, including online banks, lenders and consumer and commercial lending platforms, as well as automated retirement and investment service providers. We believe that the range and quality of products that we offer, the knowledge of our personnel, and our emphasis on building long-lasting relationships, along with our diversified business model, sets us apart from our competitors." ([Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm))

From the risk factors of the same 10-K: "These competitors include national banks, regional banks and community banks, as well as many other types of financial institutions, including savings and loan institutions, finance companies, brokerage firms, insurance companies, credit unions, mortgage banks and other financial intermediaries. In addition, a number of out-of-state financial intermediaries have opened production offices or otherwise solicit deposits in our market areas. ... There has also been a rise in financial technology companies that develop new technology to compete with traditional financial methods in the delivery of financial services." ([Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm))

"Many of our non-bank competitors are not subject to the same extensive regulations that govern our activities and may have greater flexibility in competing for business. The financial services industry could become even more competitive as a result of legislative, regulatory and technological changes and continued consolidation. In addition, some of our current commercial banking customers may seek alternative banking sources as they develop needs for credit facilities larger than we may be able to accommodate." ([Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm))

## Who competes with Merchants Bank of Indiana in each of its businesses?

| Business line | Competitor | Type | Why it competes |
| --- | --- | --- | --- |
| Mortgage warehouse lending and mortgage finance | [Texas Capital Bancshares](https://www.bankingnewsai.com/banks/texas-capital) | Bank | Texas Capital's 2025 10-K lists 'mortgage warehouse lending and mortgage finance services' among the products it offers business customers; Merchants funded $66.3 billion of warehouse loans in 2025 and calls itself one of the largest warehouse lenders in the country. ([SEC EDGAR](https://www.sec.gov/Archives/edgar/data/1077428/000107742826000010/tcbi-20251231.htm), [Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm)) |
| Mortgage warehouse lending and mortgage finance | [Western Alliance Bancorporation](https://www.bankingnewsai.com/banks/western-alliance) | Bank | Western Alliance's 2025 10-K lists mortgage warehouse lines among its commercial loans and notes the seasonality of its mortgage warehouse deposits; it also owns AmeriHome, with an about $78 billion servicing portfolio. ([Western Alliance Bancorporation (SEC filings)](https://www.sec.gov/Archives/edgar/data/1212545/000162828026010336/wal-20251231.htm), [Western Alliance Bancorporation (SEC filings)](https://www.sec.gov/Archives/edgar/data/1212545/000162828026033850/wal_investordayx2026xfin.htm)) |
| Mortgage warehouse lending and mortgage finance | [Customers Bancorp](https://www.bankingnewsai.com/banks/customers) | Bank | Customers' 2025 10-K says its bank provides mortgage finance loans nationally alongside specialized lending and equipment finance; Merchants' warehouse lines go to independent mortgage bankers and large agency seller/servicers. ([Customers Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1488813/000148881326000029/cubi-20251231.htm), [Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm)) |
| Agency multifamily and healthcare lending, servicing and tax-credit syndication | Walker & Dunlop | Non-bank lender | Walker & Dunlop originates and services multifamily loans through Fannie Mae, Freddie Mac, Ginnie Mae and HUD, had the sixth-largest commercial and multifamily servicing portfolio at $144.0 billion (MBA, year-end 2025) and is the ninth-largest tax-credit syndicator; Merchants is one of the largest GSE multifamily lenders and also syndicates LIHTC funds. ([Walker & Dunlop (SEC filings)](https://www.sec.gov/Archives/edgar/data/1497770/000110465926020249/wd-20251231x10k.htm), [Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm)) |
| Agency multifamily and healthcare lending, servicing and tax-credit syndication | [PNC Real Estate](https://www.bankingnewsai.com/banks/pnc) | Bank | Walker & Dunlop's 2025 10-K names PNC Real Estate among its competitors in multifamily finance and again among LIHTC syndicators, the two businesses of Merchants' Multi-family Mortgage Banking segment. ([Walker & Dunlop (SEC filings)](https://www.sec.gov/Archives/edgar/data/1497770/000110465926020249/wd-20251231x10k.htm), [Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm)) |
| Agency multifamily and healthcare lending, servicing and tax-credit syndication | [Wells Fargo](https://www.bankingnewsai.com/banks/wells-fargo) | Bank | Named first among Walker & Dunlop's multifamily competitors in its 2025 10-K, which says commercial real estate units of large national banks may have an advantage when borrowers already bank with them. ([Walker & Dunlop (SEC filings)](https://www.sec.gov/Archives/edgar/data/1497770/000110465926020249/wd-20251231x10k.htm)) |
| Agency multifamily and healthcare lending, servicing and tax-credit syndication | Berkadia Commercial Mortgage | Non-bank lender | Named by Walker & Dunlop's 2025 10-K among the commercial real estate finance companies it competes with for agency multifamily lending and servicing, the market where Merchants' MCC subsidiary originates and services. ([Walker & Dunlop (SEC filings)](https://www.sec.gov/Archives/edgar/data/1497770/000110465926020249/wd-20251231x10k.htm), [Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm)) |
| Agency multifamily and healthcare lending, servicing and tax-credit syndication | [Raymond James](https://www.bankingnewsai.com/banks/raymond-james) | Broker or asset manager | Walker & Dunlop's 10-K names Raymond James & Associates among the competitors of its LIHTC syndication business; Merchants' MCC is a fully integrated tax-credit equity syndicator for Section 42 LIHTC projects. ([Walker & Dunlop (SEC filings)](https://www.sec.gov/Archives/edgar/data/1497770/000110465926020249/wd-20251231x10k.htm), [Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm)) |
| National online deposits | [Axos Financial](https://www.bankingnewsai.com/banks/axos) | Bank | A branchless bank with $24.6 billion of deposits at June 30, 2026 that bought Jenius Bank's consumer deposits and Capital One IRA deposits in 2026; Merchants gathers deposits nationally through online and mobile banking from seven Indiana branches. ([Axos Financial (Business Wire)](https://businesswire.com/news/home/20260730727486/en/Axos-Financial-Inc.-Reports-Fiscal-Year-2026-Results), [SEC EDGAR](https://www.sec.gov/Archives/edgar/data/1299709/000129970926000038/ax-20260502.htm), [SEC EDGAR](https://www.sec.gov/Archives/edgar/data/1299709/000129970926000066/ax-20260921.htm), [Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm)) |
| National online deposits | [Chime](https://www.bankingnewsai.com/fintech/chime) | Fintech | An online business with no branches of the kind Merchants' 10-K names as a growing competitor; Chime's 10-K claims 'a significant cost advantage compared to traditional banks' and it had 10.4 million active members at June 30, 2026. ([Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm), [Chime via SEC EDGAR](https://www.sec.gov/Archives/edgar/data/1795586/000179558626000013/chym-20251231.htm), [Chime](https://investors.chime.com/news-releases/news-release-details/chime-reports-second-quarter-2026-financial-results)) |
| National online deposits | [Live Oak Bank](https://www.bankingnewsai.com/banks/live-oak) | Bank | A bank built on Amazon Web Services from its founding whose Glia Banking AI reports 93% first-contact resolution, with 25% of customers now holding both a loan and a deposit account (October 2026); Merchants also gathers deposits nationally online. ([American Banker](https://www.americanbanker.com/news/are-banks-saving-money-as-they-migrate-to-the-cloud), [Glia (Business Wire via Yahoo Finance)](https://finance.yahoo.com/technology/ai/articles/4-banks-credit-unions-recognized-134500710.html), [Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm)) |
| SBA and small-business lending | [Live Oak Bank](https://www.bankingnewsai.com/banks/live-oak) | Bank | Live Oak Express makes SBA 7(a) loans under $350,000 on Casca's AI origination software and targets at least $750 million a year; Merchants holds SBA Preferred Lender status with originators in Illinois, Indiana, Ohio and Texas. ([American Banker](https://www.americanbanker.com/news/huntington-live-oak-to-invest-in-deploy-gen-ai-based-lending), [Moby via Yahoo Finance](https://finance.yahoo.com/markets/stocks/articles/live-oak-bancshares-inc-q2-123000999.html), [Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm)) |
| SBA and small-business lending | [The Bancorp](https://www.bankingnewsai.com/banks/the-bancorp) | Bank | The Bancorp said in September 2026 it will end new Small Business Lending originations by year-end 2026 under its Apex 2030 restructuring, leaving the SBA market Merchants serves to fewer national lenders. ([The Bancorp (Business Wire via Yahoo Finance)](https://finance.yahoo.com/small-business/articles/bancorp-advances-apex-2030-continued-200500324.html), [Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm)) |

## How do the AI and digital offerings of Merchants Bank of Indiana's competitors compare?

Merchants Bank of Indiana first, then each competitor. Use-case counts, index scores and latest moves are computed from our profiles of each company; "No profile" means this site has no page on it yet.

| Company | AI or digital offering | On the record (our profiles) | Latest dated AI move |
| --- | --- | --- | --- |
| [Merchants Bancorp (this page)](https://www.bankingnewsai.com/banks/merchants-indiana) | Not disclosed | [Index 1.8 (#118); 12 use cases, 10 in production](https://www.bankingnewsai.com/banks/merchants-indiana) | Blue Sage reports 200%+ jumbo correspondent volume growth (Aug 27, 2026) ([Blue Sage Solutions](https://bluesageusa.com/news/merchants-bank-grows-jumbo-correspondent-lending-volume-over-200-with-blue-sage)) |
| [Texas Capital Bancshares](https://www.bankingnewsai.com/banks/texas-capital) | MAP mortgage-asset platform with Black Lake Digital Markets; Ranger assistant used by about 80% of staff ([Texas Capital](https://texascapitalbank.com/who-we-are/newsroom/news/2026/05/18/texas-capital-launches-maptm), [The Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/texas-capital-tcbi-q1-2026-155141524.html)) | [Index 49.1 (#60); 12 use cases, 8 in production](https://www.bankingnewsai.com/banks/texas-capital) | Chief risk officer departs; chief credit officer steps in (Sep 16, 2026) ([SEC EDGAR](https://www.sec.gov/Archives/edgar/data/1077428/000107742826000063/tcbi-20260916.htm)) |
| [Western Alliance Bancorporation](https://www.bankingnewsai.com/banks/western-alliance) | AI program: 150,000+ employee hours saved (May 2026) ([Western Alliance Bancorporation (SEC filings)](https://www.sec.gov/Archives/edgar/data/1212545/000162828026033850/wal_investordayx2026xfin.htm)) | [Index 71.8 (#32); 17 use cases, 16 in production](https://www.bankingnewsai.com/banks/western-alliance) | AI team first used to defend against Mythos (Sep 16, 2026) ([Investing.com](https://www.investing.com/news/transcripts/western-alliance-at-barclays-conference-shift-to-profits-buybacks-93CH-4904090)) |
| [Customers Bancorp](https://www.bankingnewsai.com/banks/customers) | OpenAI collaboration; commercial loan closing cut to 7 days in a pilot ([American Banker](https://americanbanker.com/news/openai-will-embed-staff-at-customers-bank-under-multiyear-deal), [Customers Bancorp (Business Wire via Morningstar)](https://morningstar.com/news/business-wire/20260723160284/customers-bancorp-reports-results-for-second-quarter-2026)) | [Index 75.5 (#29); 16 use cases, 11 in production](https://www.bankingnewsai.com/banks/customers) | Q2 2026 10-Q: no AI language (Aug 7, 2026) ([Customers Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1488813/000148881326000095/cubi-20260630.htm), [Customers Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1488813/000148881326000068/cubi-20260331.htm)) |
| Walker & Dunlop | Not disclosed | No profile | Not disclosed |
| [PNC Real Estate](https://www.bankingnewsai.com/banks/pnc) | PNC AI factory ([American Banker](https://www.americanbanker.com/news/why-pnc-is-building-its-own-ai-factory), [American Banker](https://www.americanbanker.com/news/pncs-solution-to-rising-ai-costs-build-its-own-ai), [PNC via FT Markets](https://markets.ft.com/data/announce/detail?dockey=600-202607070807PR_NEWS_USPRX____NE98867-1), [Investing.com](https://uk.investing.com/news/stock-market-news/pnc-at-barclays-conference-growth-ai-and-branch-push-93CH-4868299)) | [Index 68.2 (#38); 14 use cases, 8 in production](https://www.bankingnewsai.com/banks/pnc) | Head of ATM Banking hired with an AI mandate (Sep 25, 2026) ([Columbus Business First (bizjournals.com)](https://www.bizjournals.com/columbus/potmsearch/detail/submission/6578669/Mark_Williamson)) |
| [Wells Fargo](https://www.bankingnewsai.com/banks/wells-fargo) | Fargo and the Google Cloud agent stack ([Wells Fargo](https://www.wellsfargo.com/assets/pdf/about/investor-relations/earnings/fourth-quarter-2023-financial-results.pdf), [VentureBeat](https://venturebeat.com/business/wells-fargos-ai-assistant-just-crossed-245-million-interactions-with-zero-humans-in-the-loop-and-zero-pii-to-the-llm), [Wells Fargo (Business Wire)](https://www.businesswire.com/news/home/20260326542274/en/Wells-Fargo-Reaches-Major-Digital-Milestones), [American Banker](https://www.americanbanker.com/news/wells-fargo-plans-to-unleash-googles-agentic-ai-bank-wide)) | [Index 88.8 (#7); 16 use cases, 13 in production](https://www.bankingnewsai.com/banks/wells-fargo) | Q3 2026 call: AI agents in code, marketing, cyber, underwriting (Oct 13, 2026) ([PYMNTS](https://pymnts.com/earnings/2026/wells-fargo-enhances-banking-capabilities-using-ai-and-digital-assets), [Wells Fargo](https://www.wellsfargo.com/assets/pdf/about/investor-relations/earnings/third-quarter-2026-earnings.pdf)) |
| Berkadia Commercial Mortgage | Not disclosed | No profile | Not disclosed |
| [Raymond James](https://www.bankingnewsai.com/banks/raymond-james) | Rai, AI Search and the advisor desktop ([Raymond James](https://raymondjames.com/news-and-media/press-releases/2026/01/27/raymond-james-launches-proprietary-digital-ai-agent-to-bolster-operational-excellence), [GlobeNewswire via FT Markets](https://markets.ft.com/data/announce/detail?dockey=1330-9525266en-2G3EBTACBF0CHV70SD1J7K5BF2), [Raymond James](https://raymondjames.com/athens-branch/about-us/press-releases/2025/05/15/raymond-james-expands-service-focused-technology-investment-with-zoom-ai-companion)) | [Index 84.5 (#12); 16 use cases, 14 in production](https://www.bankingnewsai.com/banks/raymond-james) | Meta's Muse reignites the AI selloff (Sep 22, 2026) ([CNBC](https://www.cnbc.com/2026/09/23/metas-muse-ai-causes-schwab-selloff.html)) |
| [Axos Financial](https://www.bankingnewsai.com/banks/axos) | Enterprise AI assistant with 500+ users; 90% of committed code written by AI ([The Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/axos-ax-q3-2026-earnings-223633142.html)) | [Index 56.7 (#50); 12 use cases, 10 in production](https://www.bankingnewsai.com/banks/axos) | Proxy: Technology Committee chair named; Axos Clearing head retired (Sep 24, 2026) ([SEC EDGAR](https://www.sec.gov/Archives/edgar/data/1299709/000129970926000073/ax-20260924.htm)) |
| [Chime](https://www.bankingnewsai.com/fintech/chime) | Jade, an in-app AI financial partner ([Chime](https://help.chime.com/manage-money-56350c4d/jade-financial-partner-09a6e8e3/what-is-jade-financial-partner-d9c77341)) | [8 use cases, 6 in production](https://www.bankingnewsai.com/fintech/chime) | Agreement to acquire Stride Bank (Sep 8, 2026) ([Chime](https://investors.chime.com/news-releases/news-release-details/chime-announces-agreement-acquire-stride-bank)) |
| [Live Oak Bank](https://www.bankingnewsai.com/banks/live-oak) | Casca AI loan origination; target of 7 to 10 days from application to funding ([American Banker](https://www.americanbanker.com/news/how-ai-is-quickly-overhauling-one-segment-of-sba-lending)) | [Index 53.1 (#54); 10 use cases, 6 in production](https://www.bankingnewsai.com/banks/live-oak) | Glia names Live Oak a Catalyst Awards Pacesetter (Oct 8, 2026) ([Glia (Business Wire via Yahoo Finance)](https://finance.yahoo.com/technology/ai/articles/4-banks-credit-unions-recognized-134500710.html)) |
| [The Bancorp](https://www.bankingnewsai.com/banks/the-bancorp) | Not disclosed | [Index 21.3 (#96); 10 use cases, 4 in production](https://www.bankingnewsai.com/banks/the-bancorp) | Chime says it will buy a bank of its own (Sep 8, 2026) ([American Banker](https://americanbanker.com/payments/news/how-the-banking-as-a-service-model-is-changing)) |

## Who should look beyond Merchants Bank of Indiana, and where?

| If you are | Look at | Why |
| --- | --- | --- |
| Multifamily owners who want a large national servicer and broker in one firm | Walker & Dunlop | Merchants concentrates on affordable multifamily and healthcare facilities through FHA, Fannie Mae and Freddie Mac. Walker & Dunlop services $144.0 billion of loans, the sixth-largest commercial and multifamily portfolio in the MBA's year-end 2025 survey, and offers appraisal through its Apprise subsidiary. ([Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm), [Walker & Dunlop (SEC filings)](https://www.sec.gov/Archives/edgar/data/1497770/000110465926020249/wd-20251231x10k.htm)) |
| Small businesses that want a small SBA loan through a mostly digital process | [Live Oak Bank (Live Oak Express)](https://www.bankingnewsai.com/banks/live-oak) | Merchants' SBA lending is a regional business with originators in four states. Live Oak Express targets SBA 7(a) loans under $350,000 with AI origination and aims for seven to ten days from application to funding (April 2026). ([Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm), [American Banker](https://www.americanbanker.com/news/how-ai-is-quickly-overhauling-one-segment-of-sba-lending)) |
| Mortgage companies that also want investment banking and treasury services from their warehouse bank | [Texas Capital](https://www.bankingnewsai.com/banks/texas-capital) | Texas Capital offers mortgage warehouse lending alongside investment banking and advisory, treasury management and foreign exchange; its investment-banking fees doubled to $32 million in Q1 2026. Merchants' warehouse segment offers warehouse financing, commercial loans and deposit services. ([SEC EDGAR](https://www.sec.gov/Archives/edgar/data/1077428/000107742826000010/tcbi-20251231.htm), [American Banker](https://www.americanbanker.com/news/texas-capital-buoyed-by-turnaround-to-pay-first-ever-dividend), [Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm)) |
| Savers who want a full-service digital bank with an AI-heavy technology team | [Axos Financial](https://www.bankingnewsai.com/banks/axos) | Merchants' retail bank operates mainly in central Indiana and Richmond and grows nationally through online account opening. Axos is branchless, held $24.6 billion of deposits at June 30, 2026, and says AI writes 90% of its committed code. ([Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm), [Axos Financial (Business Wire)](https://businesswire.com/news/home/20260730727486/en/Axos-Financial-Inc.-Reports-Fiscal-Year-2026-Results), [The Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/axos-ax-q3-2026-earnings-223633142.html)) |
| Consumers who want an app-only account with an AI assistant | [Chime](https://www.bankingnewsai.com/fintech/chime) | Merchants discloses no customer AI assistant. Chime avoids branches, had 10.4 million active members at June 30, 2026, and offers some members Jade, an in-app AI financial partner. ([Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm), [Chime via SEC EDGAR](https://www.sec.gov/Archives/edgar/data/1795586/000179558626000013/chym-20251231.htm), [Chime](https://investors.chime.com/news-releases/news-release-details/chime-reports-second-quarter-2026-financial-results), [Chime](https://help.chime.com/manage-money-56350c4d/jade-financial-partner-09a6e8e3/what-is-jade-financial-partner-d9c77341)) |

## Where does Merchants Bancorp compete, and how big is it there?

Each Merchants segment with the scale it reports and the rivals the record names in that market.

| Segment | Merchants scale | Rivals on the record | As of |
| --- | --- | --- | --- |
| Mortgage Warehousing | $66.3 billion funded in 2025 ($45.6 billion in 2024; $33.0 billion in 2023); $42.5 billion in the first half of 2026 | Texas Capital, Western Alliance and Customers lend to mortgage companies | June 30, 2026 ([Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm), [Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926092702/mbin-20260630x10q.htm), [SEC EDGAR](https://www.sec.gov/Archives/edgar/data/1077428/000107742826000010/tcbi-20251231.htm), [Western Alliance Bancorporation (SEC filings)](https://www.sec.gov/Archives/edgar/data/1212545/000162828026010336/wal-20251231.htm), [Customers Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1488813/000148881326000029/cubi-20251231.htm)) |
| Multi-family Mortgage Banking | $21.5 billion serviced for others; $4.3 billion sub-serviced; one of the largest GSE multifamily lenders | Walker & Dunlop ($144.0 billion servicing); Wells Fargo, PNC Real Estate, Berkadia, CBRE, JLL, Newmark and Northmarq named by Walker & Dunlop | June 30, 2026; December 31, 2025 ([Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926092702/mbin-20260630x10q.htm), [Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm), [Walker & Dunlop (SEC filings)](https://www.sec.gov/Archives/edgar/data/1497770/000110465926020249/wd-20251231x10k.htm)) |
| Tax-credit syndication (within Multi-family) | Fully integrated LIHTC equity syndicator | Walker & Dunlop (ninth-largest); Raymond James, PNC Real Estate, Boston Financial and Enterprise Community Partners named by Walker & Dunlop | December 31, 2025 ([Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm), [Walker & Dunlop (SEC filings)](https://www.sec.gov/Archives/edgar/data/1497770/000110465926020249/wd-20251231x10k.htm)) |
| Banking | Seven branches in Indiana; national online deposits; SBA Preferred Lender with originators in four states; correspondent residential mortgage | Axos and Chime for online deposits; Live Oak in SBA lending | December 31, 2025 ([Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm), [Axos Financial (Business Wire)](https://businesswire.com/news/home/20260730727486/en/Axos-Financial-Inc.-Reports-Fiscal-Year-2026-Results), [Chime](https://investors.chime.com/news-releases/news-release-details/chime-reports-second-quarter-2026-financial-results), [American Banker](https://www.americanbanker.com/news/how-ai-is-quickly-overhauling-one-segment-of-sba-lending)) |

## Which companies fill the competitor classes in Merchants Bancorp's 10-K?

Merchants' 10-K names classes of competitors rather than companies. This table pairs each class with a company the record places in Merchants' markets.

| Class named in Merchants' 10-K | Example on the record | Where they meet |
| --- | --- | --- |
| Multi-family loan origination businesses | Walker & Dunlop, Berkadia, Northmarq | Agency multifamily origination and servicing; Walker & Dunlop names the other two as its own rivals ([Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm), [Walker & Dunlop (SEC filings)](https://www.sec.gov/Archives/edgar/data/1497770/000110465926020249/wd-20251231x10k.htm)) |
| Large banks | Wells Fargo and PNC Real Estate | Multifamily finance and, for PNC, LIHTC syndication, per Walker & Dunlop's 10-K ([Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm), [Walker & Dunlop (SEC filings)](https://www.sec.gov/Archives/edgar/data/1497770/000110465926020249/wd-20251231x10k.htm)) |
| Securities firms | Raymond James & Associates | LIHTC equity syndication, per Walker & Dunlop's 10-K ([Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm), [Walker & Dunlop (SEC filings)](https://www.sec.gov/Archives/edgar/data/1497770/000110465926020249/wd-20251231x10k.htm)) |
| Online banks with few or no physical locations | Axos (branchless) and Chime (fintech) | National deposit gathering, where Merchants raised $680 million online in under a year (vendor-reported) ([Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm), [Axos Financial (Business Wire)](https://businesswire.com/news/home/20260730727486/en/Axos-Financial-Inc.-Reports-Fiscal-Year-2026-Results), [Chime](https://investors.chime.com/news-releases/news-release-details/chime-reports-second-quarter-2026-financial-results), [Alkami](https://alkami.com/resources/client-success/case-study/500m-raised-in-deposits-in-just-6-weeks)) |
| Commercial lending platforms | Live Oak's Casca-built Live Oak Express | Small SBA 7(a) loans, where Merchants is a Preferred Lender in four states ([Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm), [American Banker](https://www.americanbanker.com/news/huntington-live-oak-to-invest-in-deploy-gen-ai-based-lending)) |
| Banks lending to mortgage companies (not a named class; the warehouse market) | Texas Capital, Western Alliance, Customers | Mortgage warehouse and mortgage finance lines ([SEC EDGAR](https://www.sec.gov/Archives/edgar/data/1077428/000107742826000010/tcbi-20251231.htm), [Western Alliance Bancorporation (SEC filings)](https://www.sec.gov/Archives/edgar/data/1212545/000162828026010336/wal-20251231.htm), [Customers Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1488813/000148881326000029/cubi-20251231.htm)) |

## How big is Merchants Bancorp next to other specialty lenders?

Assets and staff as each company reports them, with the date. Merchants runs a $21 billion balance sheet with 735 employees.

| Company | Assets | Employees | As of |
| --- | --- | --- | --- |
| Merchants Bancorp | $21.2 billion | 735 | June 30, 2026; December 31, 2025 ([Merchants Bancorp (PR Newswire)](https://prnewswire.com/news-releases/merchants-bancorp-reports-second-quarter-of-2026-results-302836726.html), [Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm)) |
| Axos Financial | $30.0 billion | 2,191 full-time | June 30, 2026 ([Axos Financial (Business Wire)](https://businesswire.com/news/home/20260730727486/en/Axos-Financial-Inc.-Reports-Fiscal-Year-2026-Results), [SEC EDGAR](https://www.sec.gov/Archives/edgar/data/1299709/000129970926000060/ax-20260630.htm)) |
| Texas Capital | Not stated in the cited record | 1,790 | February 2026 ([Banking Dive](https://www.bankingdive.com/news/texas-capital-ceo-transformation-takeover-bank-acquisitions/811837/)) |
| Hilltop Holdings | $15.8 billion | About 3,500 | December 31, 2025 ([Hilltop Holdings (SEC filing)](https://www.sec.gov/Archives/edgar/data/1265131/000110465926015264/hth-20251231x10k.htm)) |
| The Bancorp | $9.2 billion (lead bank) | 733 full-time | June 30, 2026; December 31, 2025 ([Federal Reserve Board](https://www.federalreserve.gov/releases/lbr/current/), [The Bancorp, Inc. (SEC filing)](https://www.sec.gov/Archives/edgar/data/1295401/000129540126000002/tbbk-20251231x10k.htm)) |
| Walker & Dunlop (non-bank) | $162.6 billion managed portfolio, including $144.0 billion serviced | Not stated in the cited record | December 31, 2025 ([Walker & Dunlop (SEC filings)](https://www.sec.gov/Archives/edgar/data/1497770/000110465926020249/wd-20251231x10k.htm)) |

## Common questions

### Who are Merchants Bancorp's biggest competitors?

It depends on the business. In mortgage warehousing, banks such as Texas Capital, Western Alliance and Customers. In agency multifamily lending and servicing, Walker & Dunlop, Wells Fargo, PNC Real Estate and Berkadia, all named in Walker & Dunlop's 10-K. In deposits, online banks such as Axos and fintechs such as Chime. ([SEC EDGAR](https://www.sec.gov/Archives/edgar/data/1077428/000107742826000010/tcbi-20251231.htm), [Western Alliance Bancorporation (SEC filings)](https://www.sec.gov/Archives/edgar/data/1212545/000162828026010336/wal-20251231.htm), [Customers Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1488813/000148881326000029/cubi-20251231.htm), [Walker & Dunlop (SEC filings)](https://www.sec.gov/Archives/edgar/data/1497770/000110465926020249/wd-20251231x10k.htm), [Axos Financial (Business Wire)](https://businesswire.com/news/home/20260730727486/en/Axos-Financial-Inc.-Reports-Fiscal-Year-2026-Results), [Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm))

### Is Walker & Dunlop a competitor of Merchants Bank?

Yes, in agency multifamily lending, servicing and LIHTC syndication. Both originate and service Fannie Mae, Freddie Mac and FHA multifamily loans and syndicate tax-credit equity. Walker & Dunlop services $144.0 billion of loans and is the ninth-largest tax-credit syndicator; Merchants services $21.5 billion for others and sub-services $4.3 billion. ([Walker & Dunlop (SEC filings)](https://www.sec.gov/Archives/edgar/data/1497770/000110465926020249/wd-20251231x10k.htm), [Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm), [Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926092702/mbin-20260630x10q.htm))

### Who competes with Merchants in mortgage warehouse lending?

Among banks this site profiles, Texas Capital, which offers mortgage warehouse lending and mortgage finance services; Western Alliance, which lists mortgage warehouse lines among its commercial loans; and Customers, which provides mortgage finance loans nationally. Merchants funded $66.3 billion of warehouse loans in 2025. Flagstar sold its warehouse lending portfolio in 2024. ([SEC EDGAR](https://www.sec.gov/Archives/edgar/data/1077428/000107742826000010/tcbi-20251231.htm), [Western Alliance Bancorporation (SEC filings)](https://www.sec.gov/Archives/edgar/data/1212545/000162828026010336/wal-20251231.htm), [Customers Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1488813/000148881326000029/cubi-20251231.htm), [Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm), [Flagstar Bank (SEC filings)](https://www.sec.gov/Archives/edgar/data/910073/000091007326000025/fbc-20251231.htm))

### What are alternatives to Merchants Bank for SBA loans?

Live Oak Bank's Live Oak Express makes SBA 7(a) loans under $350,000 on an AI origination platform, with $82 million of originations in Q2 2026. Merchants is an SBA Preferred Lender with originators in Illinois, Indiana, Ohio and Texas. The Bancorp is ending new small-business lending originations by year-end 2026. ([American Banker](https://www.americanbanker.com/news/huntington-live-oak-to-invest-in-deploy-gen-ai-based-lending), [MarketBeat via Yahoo Finance](https://finance.yahoo.com/markets/stocks/articles/live-oak-bancshares-q2-earnings-210730288.html), [Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm), [The Bancorp (Business Wire via Yahoo Finance)](https://finance.yahoo.com/small-business/articles/bancorp-advances-apex-2030-continued-200500324.html))

### Is Chime a competitor of Merchants Bank?

For national deposits, yes by category: Merchants' 10-K names online banks with few or no physical locations as growing competitors, and it gathers deposits nationally online. Chime's 10-K says its branchless model gives it a cost advantage over traditional banks; it had 10.4 million active members at June 30, 2026. Neither names the other. ([Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm), [Chime via SEC EDGAR](https://www.sec.gov/Archives/edgar/data/1795586/000179558626000013/chym-20251231.htm), [Chime](https://investors.chime.com/news-releases/news-release-details/chime-reports-second-quarter-2026-financial-results))

### Is PNC a competitor of Merchants Bancorp?

In multifamily finance and tax-credit syndication, yes as Walker & Dunlop's 10-K describes the market: it names PNC Real Estate among its multifamily competitors and again among LIHTC syndicators. Merchants originates and services affordable FHA, Fannie Mae and Freddie Mac multifamily loans and syndicates LIHTC equity. Neither Merchants nor PNC names the other. ([Walker & Dunlop (SEC filings)](https://www.sec.gov/Archives/edgar/data/1497770/000110465926020249/wd-20251231x10k.htm), [Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm))

### Who competes with Merchants in low-income housing tax credit syndication?

Walker & Dunlop calls itself the ninth-largest LIHTC syndicator and names Boston Financial Investment Management, Raymond James & Associates, Enterprise Community Partners, The Richman Group, National Equity Fund and PNC Real Estate as rivals. Merchants' MCC is a fully integrated syndicator whose fund investors are banks, insurers and large corporations. ([Walker & Dunlop (SEC filings)](https://www.sec.gov/Archives/edgar/data/1497770/000110465926020249/wd-20251231x10k.htm), [Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm))

### Does Merchants Bank have branches?

Seven depository branches, in Carmel, Indianapolis, Lynn, Spartanburg and Richmond, Indiana, at year-end 2025. Its retail bank operates mainly in central Indiana and Richmond and grows its national footprint through online and mobile banking; its warehouse, multifamily and correspondent mortgage businesses are national. ([Merchants Bancorp (SEC filings)](https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm))

## Peers on this site

- [Customers Bancorp AI strategy](https://www.bankingnewsai.com/banks/customers) · [vs peers](https://www.bankingnewsai.com/banks/customers/vs-peers)
- [Texas Capital Bancshares AI strategy](https://www.bankingnewsai.com/banks/texas-capital) · [vs peers](https://www.bankingnewsai.com/banks/texas-capital/vs-peers)
- [Western Alliance Bancorporation AI strategy](https://www.bankingnewsai.com/banks/western-alliance) · [vs peers](https://www.bankingnewsai.com/banks/western-alliance/vs-peers)
- [Axos Financial AI strategy](https://www.bankingnewsai.com/banks/axos) · [vs peers](https://www.bankingnewsai.com/banks/axos/vs-peers)
- [Live Oak Bancshares AI strategy](https://www.bankingnewsai.com/banks/live-oak) · [vs peers](https://www.bankingnewsai.com/banks/live-oak/vs-peers)
- [The Bancorp, Inc. AI strategy](https://www.bankingnewsai.com/banks/the-bancorp) · [vs peers](https://www.bankingnewsai.com/banks/the-bancorp/vs-peers)
- [Hilltop Holdings AI strategy](https://www.bankingnewsai.com/banks/hilltop) · [vs peers](https://www.bankingnewsai.com/banks/hilltop/vs-peers)

## Sources

1. Merchants Bancorp Annual Report on Form 10-K for the fiscal year ended December 31, 2025 — Merchants Bancorp (SEC filings), Feb 27, 2026. https://www.sec.gov/Archives/edgar/data/1629019/000110465926021549/mbin-20251231x10k.htm
2. Texas Capital Bancshares Annual Report on Form 10-K for the fiscal year ended December 31, 2025 — SEC EDGAR, Feb 10, 2026. https://www.sec.gov/Archives/edgar/data/1077428/000107742826000010/tcbi-20251231.htm
3. Western Alliance Bancorporation Annual Report on Form 10-K for the fiscal year ended December 31, 2025 — Western Alliance Bancorporation (SEC filings), Feb 23, 2026. https://www.sec.gov/Archives/edgar/data/1212545/000162828026010336/wal-20251231.htm
4. Customers Bancorp, Inc. Annual Report on Form 10-K for the fiscal year ended December 31, 2025 — Customers Bancorp (SEC filings), Feb 27, 2026. https://www.sec.gov/Archives/edgar/data/1488813/000148881326000029/cubi-20251231.htm
5. Walker & Dunlop, Inc. Annual Report on Form 10-K for the fiscal year ended December 31, 2025 — Walker & Dunlop (SEC filings), Feb 26, 2026. https://www.sec.gov/Archives/edgar/data/1497770/000110465926020249/wd-20251231x10k.htm
6. Axos Financial, Inc. Reports Fiscal Year 2026 Results — Axos Financial (Business Wire), Jul 30, 2026. https://businesswire.com/news/home/20260730727486/en/Axos-Financial-Inc.-Reports-Fiscal-Year-2026-Results
7. Chime Reports Second Quarter 2026 Financial Results — Chime, Aug 5, 2026. https://investors.chime.com/news-releases/news-release-details/chime-reports-second-quarter-2026-financial-results
8. How AI is quickly overhauling one segment of SBA lending — American Banker, Apr 28, 2026. https://www.americanbanker.com/news/how-ai-is-quickly-overhauling-one-segment-of-sba-lending
9. Western Alliance Bancorporation Investor Day 2026 presentation (Form 8-K, Exhibit 99.1) — Western Alliance Bancorporation (SEC filings), May 12, 2026. https://www.sec.gov/Archives/edgar/data/1212545/000162828026033850/wal_investordayx2026xfin.htm
10. Axos Financial, Inc. Form 8-K (Item 2.01: completion of the Jenius Bank deposit acquisition) — SEC EDGAR, May 4, 2026. https://www.sec.gov/Archives/edgar/data/1299709/000129970926000038/ax-20260502.htm
11. Axos Financial, Inc. Form 8-K (Item 2.01: completion of the Capital One IRA deposit acquisition) — SEC EDGAR, Sep 21, 2026. https://www.sec.gov/Archives/edgar/data/1299709/000129970926000066/ax-20260921.htm
12. Chime Financial, Inc. Annual Report on Form 10-K for the fiscal year ended December 31, 2025 — Chime via SEC EDGAR, Mar 6, 2026. https://www.sec.gov/Archives/edgar/data/1795586/000179558626000013/chym-20251231.htm
13. Are banks saving money as they migrate to the cloud? What you need to know — American Banker, Sep 9, 2024. https://www.americanbanker.com/news/are-banks-saving-money-as-they-migrate-to-the-cloud
14. 4 Banks and Credit Unions Recognized for AI Innovation — Glia (Business Wire via Yahoo Finance), Oct 8, 2026. https://finance.yahoo.com/technology/ai/articles/4-banks-credit-unions-recognized-134500710.html
15. Huntington, Live Oak to invest in, deploy gen AI-based lending — American Banker, Aug 19, 2025. https://www.americanbanker.com/news/huntington-live-oak-to-invest-in-deploy-gen-ai-based-lending
16. Live Oak Bancshares, Inc. Q2 2026 Earnings Call Summary — Moby via Yahoo Finance, Jul 23, 2026. https://finance.yahoo.com/markets/stocks/articles/live-oak-bancshares-inc-q2-123000999.html
17. The Bancorp Advances Apex 2030 Through Continued Organizational Alignment — The Bancorp (Business Wire via Yahoo Finance), Sep 4, 2026. https://finance.yahoo.com/small-business/articles/bancorp-advances-apex-2030-continued-200500324.html
18. Merchants Bank Grows Jumbo Correspondent Lending Volume Over 200% with Blue Sage — Blue Sage Solutions, Aug 27, 2026. https://bluesageusa.com/news/merchants-bank-grows-jumbo-correspondent-lending-volume-over-200-with-blue-sage
19. Texas Capital Launches MAP — Texas Capital, May 18, 2026. https://texascapitalbank.com/who-we-are/newsroom/news/2026/05/18/texas-capital-launches-maptm
20. Texas Capital (TCBI) Q1 2026 Earnings Transcript — The Motley Fool (Yahoo Finance), Apr 23, 2026. https://finance.yahoo.com/markets/stocks/articles/texas-capital-tcbi-q1-2026-155141524.html
21. Form 8-K: departure of Chief Risk Officer (Item 5.02) — SEC EDGAR, Sep 16, 2026. https://www.sec.gov/Archives/edgar/data/1077428/000107742826000063/tcbi-20260916.htm
22. Western Alliance at Barclays Conference: shift to profits, buybacks (transcript) — Investing.com, Sep 16, 2026. https://www.investing.com/news/transcripts/western-alliance-at-barclays-conference-shift-to-profits-buybacks-93CH-4904090
23. OpenAI will embed staff at Customers Bank under multiyear deal — American Banker, Apr 27, 2026. https://americanbanker.com/news/openai-will-embed-staff-at-customers-bank-under-multiyear-deal
24. Customers Bancorp Reports Results for Second Quarter 2026 — Customers Bancorp (Business Wire via Morningstar), Jul 23, 2026. https://morningstar.com/news/business-wire/20260723160284/customers-bancorp-reports-results-for-second-quarter-2026
25. Customers Bancorp, Inc. Quarterly Report on Form 10-Q for the quarter ended June 30, 2026 — Customers Bancorp (SEC filings), Aug 7, 2026. https://www.sec.gov/Archives/edgar/data/1488813/000148881326000095/cubi-20260630.htm
26. Customers Bancorp, Inc. Quarterly Report on Form 10-Q for the quarter ended March 31, 2026 — Customers Bancorp (SEC filings), May 8, 2026. https://www.sec.gov/Archives/edgar/data/1488813/000148881326000068/cubi-20260331.htm
27. Why PNC is building its own 'AI factory' — American Banker, Jun 11, 2026. https://www.americanbanker.com/news/why-pnc-is-building-its-own-ai-factory
28. PNC's solution to rising AI costs: build its own AI — American Banker, Jun 12, 2026. https://www.americanbanker.com/news/pncs-solution-to-rising-ai-costs-build-its-own-ai
29. PNC's New Mobile App Delivers an Intuitive, Personalized Experience to Help Clients Seamlessly Manage Their Day-to-Day Financial Lives — PNC via FT Markets, Jul 7, 2026. https://markets.ft.com/data/announce/detail?dockey=600-202607070807PR_NEWS_USPRX____NE98867-1
30. PNC at Barclays conference: growth, AI and branch push (transcript) — Investing.com, Sep 14, 2026. https://uk.investing.com/news/stock-market-news/pnc-at-barclays-conference-growth-ai-and-branch-push-93CH-4868299
31. Mark Williamson hired as Head of ATM Banking — Columbus Business First (bizjournals.com), Sep 25, 2026. https://www.bizjournals.com/columbus/potmsearch/detail/submission/6578669/Mark_Williamson
32. 4Q23 Financial Results — Wells Fargo, Jan 11, 2024. https://www.wellsfargo.com/assets/pdf/about/investor-relations/earnings/fourth-quarter-2023-financial-results.pdf
33. Wells Fargo's AI assistant just crossed 245 million interactions – no human handoffs, no sensitive data exposed — VentureBeat, Apr 8, 2025. https://venturebeat.com/business/wells-fargos-ai-assistant-just-crossed-245-million-interactions-with-zero-humans-in-the-loop-and-zero-pii-to-the-llm
34. Wells Fargo Reaches Major Digital Milestones — Wells Fargo (Business Wire), Mar 26, 2026. https://www.businesswire.com/news/home/20260326542274/en/Wells-Fargo-Reaches-Major-Digital-Milestones
35. Wells Fargo plans to unleash Google's agentic AI bank-wide — American Banker, Aug 5, 2025. https://www.americanbanker.com/news/wells-fargo-plans-to-unleash-googles-agentic-ai-bank-wide
36. Wells Fargo Enhances Banking Capabilities Using AI and Digital Assets — PYMNTS, Oct 13, 2026. https://pymnts.com/earnings/2026/wells-fargo-enhances-banking-capabilities-using-ai-and-digital-assets
37. Wells Fargo Reports Third Quarter 2026 Net Income of $6.0 billion, or $1.87 per Diluted Share — Wells Fargo, Oct 13, 2026. https://www.wellsfargo.com/assets/pdf/about/investor-relations/earnings/third-quarter-2026-earnings.pdf
38. Raymond James launches proprietary digital AI agent to bolster operational excellence — Raymond James, Jan 27, 2026. https://raymondjames.com/news-and-media/press-releases/2026/01/27/raymond-james-launches-proprietary-digital-ai-agent-to-bolster-operational-excellence
39. Raymond James Hires David Solganik as Head of AI Strategy — GlobeNewswire via FT Markets, Sep 8, 2025. https://markets.ft.com/data/announce/detail?dockey=1330-9525266en-2G3EBTACBF0CHV70SD1J7K5BF2
40. Raymond James expands service-focused technology investment with Zoom AI Companion meeting summaries — Raymond James, May 15, 2025. https://raymondjames.com/athens-branch/about-us/press-releases/2025/05/15/raymond-james-expands-service-focused-technology-investment-with-zoom-ai-companion
41. Meta's Muse reignites AI disruption fears. Traders are targeting this brokerage stock as next casualty — CNBC, Sep 23, 2026. https://www.cnbc.com/2026/09/23/metas-muse-ai-causes-schwab-selloff.html
42. Axos (AX) Q3 2026 Earnings Call Transcript — The Motley Fool (Yahoo Finance), Apr 30, 2026. https://finance.yahoo.com/markets/stocks/articles/axos-ax-q3-2026-earnings-223633142.html
43. Axos Financial, Inc. Proxy Statement (DEF 14A) for the 2026 annual meeting — SEC EDGAR, Sep 24, 2026. https://www.sec.gov/Archives/edgar/data/1299709/000129970926000073/ax-20260924.htm
44. What is Jade Financial Partner? (help centre, retrieved 2026-09-23) — Chime, Sep 23, 2026. https://help.chime.com/manage-money-56350c4d/jade-financial-partner-09a6e8e3/what-is-jade-financial-partner-d9c77341
45. Chime Announces Agreement to Acquire Stride Bank — Chime, Sep 8, 2026. https://investors.chime.com/news-releases/news-release-details/chime-announces-agreement-acquire-stride-bank
46. How the banking-as-a-service model is changing — American Banker, Sep 21, 2026. https://americanbanker.com/payments/news/how-the-banking-as-a-service-model-is-changing
47. Texas Capital, buoyed by turnaround, to pay first-ever dividend — American Banker, Apr 23, 2026. https://www.americanbanker.com/news/texas-capital-buoyed-by-turnaround-to-pay-first-ever-dividend
48. Merchants Bancorp Quarterly Report on Form 10-Q for the quarter ended June 30, 2026 — Merchants Bancorp (SEC filings), Aug 7, 2026. https://www.sec.gov/Archives/edgar/data/1629019/000110465926092702/mbin-20260630x10q.htm
49. $500M+ Raised in Deposits in Just 6 Weeks (Merchants Bank of Indiana case study) — Alkami, Aug 21, 2025. https://alkami.com/resources/client-success/case-study/500m-raised-in-deposits-in-just-6-weeks
50. Merchants Bancorp Reports Second Quarter of 2026 Results — Merchants Bancorp (PR Newswire), Jul 28, 2026. https://prnewswire.com/news-releases/merchants-bancorp-reports-second-quarter-of-2026-results-302836726.html
51. Axos Financial, Inc. Annual Report on Form 10-K for the fiscal year ended June 30, 2026 — SEC EDGAR, Aug 20, 2026. https://www.sec.gov/Archives/edgar/data/1299709/000129970926000060/ax-20260630.htm
52. Texas Capital CEO touts transformation amid M&A chatter — Banking Dive, Feb 10, 2026. https://www.bankingdive.com/news/texas-capital-ceo-transformation-takeover-bank-acquisitions/811837/
53. Hilltop Holdings Inc. Form 10-K for the fiscal year ended December 31, 2025 — Hilltop Holdings (SEC filing), Feb 13, 2026. https://www.sec.gov/Archives/edgar/data/1265131/000110465926015264/hth-20251231x10k.htm
54. Large Commercial Banks (data as of June 30, 2026) — Federal Reserve Board, Oct 2, 2026. https://www.federalreserve.gov/releases/lbr/current/
55. The Bancorp, Inc. Form 10-K for the fiscal year ended December 31, 2025 — The Bancorp, Inc. (SEC filing), Feb 25, 2026. https://www.sec.gov/Archives/edgar/data/1295401/000129540126000002/tbbk-20251231x10k.htm
56. Flagstar Bank, N.A. Annual Report on Form 10-K for the fiscal year ended December 31, 2025 — Flagstar Bank (SEC filings), Feb 27, 2026. https://www.sec.gov/Archives/edgar/data/910073/000091007326000025/fbc-20251231.htm
57. Live Oak Bancshares Q2 Earnings Call Highlights — MarketBeat via Yahoo Finance, Jul 23, 2026. https://finance.yahoo.com/markets/stocks/articles/live-oak-bancshares-q2-earnings-210730288.html

---

Canonical page: https://www.bankingnewsai.com/banks/merchants-indiana/competitors
Part of [BankingNewsAI](https://www.bankingnewsai.com/). Markdown versions of every reference page: append `.md` to the page URL; index at https://www.bankingnewsai.com/llms.txt.