Merchants Bank of Indiana
Merchants Bank of Indiana reported total assets of $21.2 bn at Q2 2026, up 10.9% on a year earlier, the 103rd largest of 497 banks in our US coverage. The CET1 capital ratio at Merchants Bank of Indiana was 11.76%, and the uninsured share of Merchants Bank of Indiana was 28.97%. Source: FDIC Call Reports.
Key takeaways
- On return on equity (ROE), Merchants Bank of Indiana climbed from 324th to 196th among 500 US banks between and (1 = highest; FDIC Call Reports).
- Merchants Bank of Indiana has one of the highest loan-to-deposit ratio readings among banks of $10 bn to $100 bn: 120.53% at , against a median of 85.69% across 126 banks (FDIC Call Reports).
- Since , Merchants Bank of Indiana has taken over one institution; the latest was Farmers-Merchants Bank of Illinois on (FDIC Call Reports).
What sets Merchants Bank of Indiana apart
How large is Merchants Bank of Indiana?
The balance sheet of Merchants Bank of Indiana at : assets $21.2 bn, deposits $14.3 bn, net loans $17.3 bn (loans equal to 120.53% of deposits). Securities make up 7.8% of total assets at Merchants Bank of Indiana. Since , when Merchants Bank of Indiana held $2.5 bn, its assets grew 757.7%. In the year to , deposits at Merchants Bank of Indiana rose 12.5% while its total assets rose 10.9%. At , Merchants Bank of Indiana employed 743 full-time equivalent staff across 8 offices, about $28.5 mn of assets per employee and $1.8 bn of deposits per office.
How much funding at Merchants Bank of Indiana is uninsured?
At Merchants Bank of Indiana, uninsured deposits (above the FDIC limit) made up 28.97% of domestic deposits at (+4.73 pp on a year earlier); Merchants Bank of Indiana ranks 329th of 500 on this measure. In dollars, Merchants Bank of Indiana estimated $4.2 bn of uninsured deposits.
Key facts, Q2 2026
| Metric | Value | Change from a year earlier | US rank |
|---|---|---|---|
| Total deposits | $14.3 bn | +12.5% | 116th of 499 |
| Net loans and leases | $17.3 bn | +15.7% | 86th of 500 |
| Loan-to-deposit ratio | 120.53% | +3.36 pp | 13th of 500 |
| Tier 1 leverage ratio | 11.28% | +0.03 pp | 149th of 500 |
| Total risk-based capital ratio | 12.18% | -0.94 pp | 401st of 448 |
| Net interest margin | 2.86% | -0.01 pp | 432nd of 500 |
| Return on assets (ROA) | 1.49% | +0.43 pp | 156th of 500 |
| Efficiency ratio | 40.22% | -1.77 pp | 61st of 500 (1 = lowest) |
| Unrealized gain/loss on held-to-maturity securities | Loss of $1.3 mn | Widened by $655,000 | |
| Unrealized gain/loss on available-for-sale securities | Loss of $1.6 mn | Widened by $1.3 mn | |
| Noncurrent loans to total loans | 1.18% | -0.49 pp | 392nd of 500 (1 = lowest) |
| Net charge-offs to average loans | 0.41% | -0.35 pp | 425th of 500 (1 = lowest) |
US rank of Merchants Bank of Indiana: 1 = highest unless marked 1 = lowest.
Balance sheet
Merchants Bank of Indiana: assets, deposits and loans
- Total assets $21.2bn
- Deposits $14.3bn
- Net loans $17.3bn
Capital and securities
The CET1 ratio of Merchants Bank of Indiana stood at 11.76% in , -0.75 pp year on year. Low and high at Merchants Bank of Indiana since : 10.56% () to 15.35% (). Equity capital of Merchants Bank of Indiana at : $2.3 bn, or 11.0% of total assets. Merchants Bank of Indiana also reported a total capital ratio of 12.18% for , and a tier 1 leverage ratio of 11.28%.
On held-to-maturity securities, Merchants Bank of Indiana carried an unrealized loss of $1.3 mn at , equal to 0.1% of equity capital. The loss widened by $655,000 over the year. Its deepest point: $3.4 mn in . The available-for-sale portfolio of Merchants Bank of Indiana showed an unrealized loss of $1.6 mn at ; the loss widened by $1.3 mn over the year.
Merchants Bank of Indiana: capital ratios
- Total capital 12%
- CET1 12%
- Tier 1 leverage 11%
Merchants Bank of Indiana: unrealized securities gains and losses
- Available for sale -$2mn
- Held to maturity -$1mn
Profitability and loan quality
For the year to , Merchants Bank of Indiana earned a return on equity of 13.29%; return on assets: 1.49%. Net interest margin at Merchants Bank of Indiana: 2.86%, -0.01 pp in a year. Merchants Bank of Indiana net income: $151.0 mn, up 52.1% year on year. The efficiency ratio of Merchants Bank of Indiana was 40.22%: about 40 cents cost per revenue dollar, against 55 cents at the median peer.
At , noncurrent loans were 1.18% of total loans at Merchants Bank of Indiana; net charge-offs: 0.41% of average loans. Gross loans and leases at Merchants Bank of Indiana: $17.4 bn, up 15.5% in a year.
Merchants Bank of Indiana: profitability
- Return on equity 13%
- Net interest margin 2.9%
- Return on assets 1.5%
Peer group of Merchants Bank of Indiana
The peer group of Merchants Bank of Indiana is the 6 banks nearest to it by total assets at : 3 larger and 3 smaller. Of the peers, 2 share the charter type of Merchants Bank of Indiana (state nonmember bank), 6 sit in the same size group ($10 bn to $100 bn) and 1 has its head office in Indiana. Against them, Merchants Bank of Indiana shows CET1 ratio 11.76% against a peer median of 12.18%, return on equity 13.29% against a peer median of 7.69% and uninsured deposit share 28.97% against a peer median of 40.67%.
| Bank | Charter | State | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|---|---|
| First Merchants Bank | State nonmember bank | IN | $21.3 bn | 11.50% | 6.04% | 45.36% | |
| Mechanics Bank | State nonmember bank | CA | $21.2 bn | 15.48% | 7.33% | 42.90% | |
| Citizens Business Bank | National bank | CA | $21.2 bn | 14.33% | 8.05% | 54.18% | |
| Merchants Bank of Indiana | State nonmember bank | IN | $21.2 bn | 11.76% | 13.29% | 28.97% | |
| The Central Trust Bank | State member bank | MO | $20.3 bn | 12.69% | 22.10% | 38.43% | |
| Apple Bank | State-chartered stock savings bank | NY | $19.9 bn | 11.68% | 4.83% | 21.01% | |
| Stifel Bank and Trust | State member bank | MO | $19.6 bn | 10.97% | 27.27% | 17.13% | |
. FDIC Call Reports.
Last eight quarters
Two years at Merchants Bank of Indiana, to : assets +13.9%, deposits +10.8%, equity +21.8%. Staff 643 to 743; offices 6 to 8.
| Metric | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 |
|---|---|---|---|---|---|---|---|---|
| Total assets | $18.6 bn | $18.6 bn | $18.7 bn | $19.1 bn | $19.3 bn | $19.4 bn | $20.3 bn | $21.2 bn |
| Total deposits | $12.9 bn | $12.0 bn | $12.5 bn | $12.8 bn | $14.0 bn | $13.1 bn | $13.0 bn | $14.3 bn |
| Bank equity capital | $1.9 bn | $2.1 bn | $2.1 bn | $2.1 bn | $2.2 bn | $2.2 bn | $2.3 bn | $2.3 bn |
| CET1 ratio | 11.39% | 12.29% | 12.15% | 12.51% | 12.75% | 12.84% | 11.93% | 11.76% |
| Return on equity (ROE) | 16.92% | 17.54% | 11.34% | 9.41% | 9.74% | 10.59% | 12.46% | 13.29% |
| Uninsured share of domestic deposits | 20.50% | 23.56% | 24.43% | 24.24% | 26.69% | 23.34% | 26.74% | 28.97% |
| Full-time equivalent employees | 643 | 661 | 695 | 717 | 729 | 724 | 722 | 743 |
| Number of offices | 6 | 7 | 7 | 7 | 7 | 7 | 7 | 8 |
FDIC Call Reports.
Mergers and acquisitions
The FDIC history of Merchants Bank of Indiana, oldest first; figures before and after each event are not like for like.
- . Absorbed Farmers-Merchants Bank of Illinois (FDIC certificate 11329).
Large one-quarter moves at Merchants Bank of Indiana
- Total assets at Merchants Bank of Indiana changed by +34.3% in the quarter to 2019-06-30, with no FDIC structure event in that quarter.
Questions and identifiers
What were the total assets of Merchants Bank of Indiana?
Merchants Bank of Indiana reported $21.2 bn at in its Call Report. That makes Merchants Bank of Indiana the 103rd largest of 497 banks in our US coverage.
Is Merchants Bank of Indiana the same as its holding company?
No. This page covers Merchants Bank of Indiana, FDIC certificate 8056; MERCHANTS BCORP (as reported to the FDIC), its holding company, reports separately to the Federal Reserve.
Is Merchants Bank of Indiana profitable?
Merchants Bank of Indiana reported net income of $151.0 mn for the year to ; annualized return on equity: 13.29%. So yes: Merchants Bank of Indiana made a profit over these months.
When is data for Merchants Bank of Indiana next updated?
Figures from Merchants Bank of Indiana for are due after .
Where can I check the figures for Merchants Bank of Indiana?
In the FDIC BankFind Suite record for certificate 8056, and in the Call Reports of Merchants Bank of Indiana (RSSD ID 963945) at the FFIEC Central Data Repository.