Merchants Bank of Indiana
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Data as of · sourced from FFIEC call reports. How we update
Merchants Bank of Indiana is an FDIC-insured commercial bank headquartered in Carmel, IN, established in 1923 (FDIC certificate 8056), and it is supervised by the FDIC. At Q2 2026 it reported total assets of $21.17B, up 10.9% from Q2 2025, the 3rd largest of 87 banks headquartered in Indiana. Its CET1 capital ratio was 11.76% at Q2 2026, above regulatory requirements.
- Charter
- Commercial bank
- Regulator
- FDIC
- Deposit insurance
- FDIC
- FDIC certificate
- 8056
- Headquarters
- Carmel, IN
- Established
- 1923
- Total assets, Q2 2026
- $21.17B
- Assets vs Q2 2025
- +10.9%
- CET1 ratio, Q2 2026
- 11.76%
- Domestic offices
- 8 FDIC institution directory, current count
- Routing number
- 074909153
- Latest call report
- Q2 2026, FFIEC 041 · Merchants Bank of Indiana call report
- Holding company
- MERCHANTS BANCORP
- Asset rank in state
- 3rd of 87 in Indiana
Merchants Bank of Indiana pays more for its money than most banks of its size. Its balance sheet stood at $21.2 billion at June 30, 2026, up 10.9% from a year earlier; it is based in Carmel, Indiana. It pays an average of 3.44% on its deposits and borrowings, higher than about 9 in 10 of the 124 banks with $10 billion to $100 billion in assets (median 1.91%). It also carries problem assets equal to 11.6% of the capital and reserves that would absorb them, about triple the median of 4.2% for banks its size.
Earnings jumped: net income for the quarter was $81 million, 103% above the same quarter a year earlier. Problem loans eased: loans on nonaccrual or 90 or more days past due, net of government guarantees, were 1.18% of loans, down from 1.67% a year earlier. Where it has less room is capital: it holds common equity equal to 11.76% of its risk-weighted assets, lower than about three-quarters of banks its size (median 12.98%).
As of June 30, 2026, Merchants Bank of Indiana reported a CET1 capital ratio of 11.76%, a return on assets of 1.58%, a nonperforming-loan ratio of 1.18% and a Texas ratio of 11.64%. The figures come from its call report filed with the FFIEC.
Merchants Bank of Indiana ranks as the 3rd largest of the 87 banks based in Indiana, by total assets at Q2 2026. From Q1 2026 to Q2 2026, its total assets rose 4.5% to $21.17B, loans rose 4.4% and deposits rose 10.0%. The largest part of its loan book on June 30, 2026 was loans to nondepository financial institutions, at 45.0% of total loans, ahead of multifamily loans at 19.2%. Its 8 offices in the FDIC Summary of Deposits are in 5 cities in IN; its Carmel 2 offices book 92% of its branch deposits. Judged on its Q2 2026 call report, Merchants Bank of Indiana meets every capital ratio test for well capitalized.
Headquarters Profile
- Address
- 410 Monon Blvd, Carmel, IN 46032
- County
- Hamilton
- Metro Area
- Indianapolis-Carmel-Greenwood, IN
- Charter
- Commercial bank, state charter, Fed non-member, FDIC-supervised
- Primary Regulator
- FDIC
- FDIC Region
- Chicago (Region 9)
- Federal Reserve member
- No
- Federal Reserve district
- District 7, Chicago
- Fiduciary (trust) powers
- Full trust powers granted
- Call Report form
- FFIEC 041
- Established
- June 23, 1923
- Domestic offices
- 8 FDIC institution directory, current count
- Employees (FTE)
- 743
- Domestic deposits
- $14.34B
- Allowance for credit losses
- $75.8M
- Net charge-offs (YTD)
- $34.1M
- Average total assets
- $20.52B
- Average total loans
- $16.54B
- Average interest-bearing deposits
- $13.40B
- Tax status
- C corporation
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- January 1, 1934
- FDIC Cert
- 8056
- Fed RSSD
- 963945
- SEC CIK
- 1629019 → filed by MERCHANTS BANCORP
- Website
- www.bankmerchants.com →
- Parent Holding Company
- MERCHANTS BANCORP (RSSD 3530786) · MBIN
Management
Senior officers at parent holding company, from SEC Form 3/4/5 disclosures
| Name | Role | Title |
|---|---|---|
| Michael F. Petrie | CEO | Chairman and CEO |
| Martin A Schroeter | PRES | President-Warehouse Lending |
| Michael J. Dunlap | PRES | President, COO |
| Sean A. Sievers | CFO | CHIEF FINANCIAL OFFICER |
| Terry A Oznick | GC | SVP, General Counsel |
Profitability
Q2 annualizedCapital & Liquidity
Balance Sheet
Income Statement
Operating & Funding
Ratios tagged annualized use the Q2 income alone. The UBPR and FDIC annualize the year to date instead. FDIC BankFind divides by the average of quarter-end total assets, the UBPR by RC-K average assets. The YTD margin is the UBPR's tax-equivalent figure over its own average earning assets; FDIC BankFind's margin is not tax-equivalent. How we compute these figures
Quarterly trends
Over the 12 quarters to Q2 2026, Merchants Bank of Indiana's total assets ran between $16.17B (Q3 2023) and $21.17B (Q2 2026), and it earned a profit in all 12 quarters. The line under each chart compares Q2 2026 with Q2 2025. How these charts are built
$21.17B total assets against $19.08B; $18.85B total liabilities against $16.95B.
$17.29B net loans and leases against $14.94B; $14.34B total deposits against $12.75B.
$1.65B securities against $1.88B; $314.7M cash and balances due against $647.2M.
$293.4M total interest income against $303.7M; $154.5M total interest expense against $172.5M.
$138.9M net interest income against $131.2M.
$44.8M total noninterest income against $49.7M; $71.3M total noninterest expense against $76.5M.
$9.2M provision for credit losses against $53.0M.
$81.0M net income against $39.9M.
1.58% return on assets against 0.84%; 2.86% net interest margin against 2.88%.
11.76% CET1 capital ratio against 12.51%; 11.28% tier 1 leverage ratio against 11.26%.
Inside the full Merchants Bank of Indiana terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeWatch flags
Automated conditions triggered on this bank's latest filing. Advisory only; see the source metric pages for full context. Each flag is tagged Regulatory when it cites an official supervisory threshold, or BRR analysis when it's our own band, informed by our data and models.
Loans outstanding are at or above total deposits. The bank reports little borrowing or brokered funding, so the difference is carried mainly by equity and other liabilities. Worth watching if loan growth continues to outpace deposits. Industry heuristic, not a supervisory threshold.
Commercial real estate loans exceed 300% of total capital, the threshold at which the 2006 interagency guidance flags a bank for heightened supervisory scrutiny. CRE concentration has been the central stress vector for regional banks since 2023. 2006 Interagency CRE Concentration Guidance (SR 07-1).
Merchants Bank of Indiana rankings
Its closest position to the top of a national ranking is 102 of 4,196, for total assets; its furthest is 1,792 of 2,134, for CET1 ratio.
Metric pages for Merchants Bank of Indiana: Efficiency ratio.
Quarterly trend: last 8 quarters
Across the 8 quarters to Q2 2026, its return on assets ran from 0.84% (Q2 2025) to 2.10% (Q4 2024) and its net interest margin ran from 2.86% (Q2 2026) to 3.06% (Q3 2024).
| Quarter | CET1 | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 11.76% | 1.58% | 1.18% | 11.64% | 2.86% |
| Q1 2026 | 11.93% | 1.48% | 1.49% | 13.24% | 2.94% |
| Q4 2025 | 12.84% | 1.46% | 1.27% | 11.17% | 2.98% |
| Q3 2025 | 12.75% | 1.20% | 1.97% | 13.37% | 2.90% |
| Q2 2025 | 12.51% | 0.84% | 1.67% | 11.65% | 2.88% |
| Q1 2025 | 12.15% | 1.34% | 1.91% | 12.95% | 2.91% |
| Q4 2024 | 12.29% | 2.10% | 1.91% | 13.14% | 3.05% |
| Q3 2024 | 11.39% | 1.37% | 1.45% | 10.40% | 3.06% |
Swipe the table sideways to see every column.
Branch Network
View all 8 branches → Branch count from the FDIC Summary of Deposits, June 30, 2026. The domestic office count above is the FDIC's current figure, so the two can differ.
| Branch | Location | ZIP | Deposits |
|---|---|---|---|
| Merchants Bank of Indiana (main office) | Carmel , IN | 46032 | $12.64B |
| Merchants Bank of Indiana - the Richmond Branch | Richmond , IN | 47374 | $492.1M |
| Merchants Bank of Indiana Carmel Office Branch | Carmel , IN | 46032 | $490.4M |
| Indianapolis Bank Branch | Indianapolis , IN | 46240 | $452.7M |
| Lynn Branch | Lynn , IN | 47355 | $142.7M |
| Spartanburg Branch | Lynn , IN | 47355 | $67.6M |
| Bloomington Branch | Bloomington , IN | 47404 | $45.1M |
| Richmond Branch | Richmond , IN | 47374 | $13.4M |
Events & Regulatory History
Mergers, charter changes, enforcement actions, FDIC assistance, and (if applicable) failure events recorded against this institution. Click a year to see what else was happening across US banking that year.
| Date | Category | Event | Source |
|---|---|---|---|
| January 27, 2024 | M&A | Acquired Farmers-Merchants Bank of Illinois merger for the acquired bank | SEC |
| January 27, 2024 | Structure Change | Acquired Farmers-Merchants Bank of Illinois Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| January 26, 2024 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| January 1, 2009 | M&A | Acquired Symphony Bank merger for the acquired bank | SEC |
| January 1, 2009 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| January 1, 2009 | Structure Change | Acquired Symphony Bank Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
Sourced from the bank event history (FDIC, Federal Reserve NIC, OCC, and OTS). Showing the most recent 6 events.
Regulatory record
Facts as filed or published, not a rating.
- Deposit market share
- 6.5% of deposits in IN, rank 4 of 129 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- Mortgage lending (HMDA)
- 1,912 applications, 1,014 loans originated, $2.17B originated, across 45 states
- Period: Calendar year 2025. Source: FFIEC HMDA loan application register.
- SBA 7(a) lending
- 84 loans, $115.5M approved, $1.4M average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2025 (October to September). Source: SBA 7(a) and 504 loan data (FOIA).
- Not on file
- Enforcement actions, Consumer complaints, CFPB enforcement, CRA examination rating. No record from these sources, which is not the same as a clean record. Sources
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Frequently asked about Merchants Bank of Indiana
What are Merchants Bank of Indiana's total assets?
As of the Q2 2026 filing, Merchants Bank of Indiana reported total assets of $21.17 billion in its FFIEC call report.
Where is Merchants Bank of Indiana headquartered?
It is headquartered in Carmel, IN, United States.
When was Merchants Bank of Indiana founded?
It was established in 1923, per the FDIC institution directory.
Is Merchants Bank of Indiana FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #8056). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates Merchants Bank of Indiana?
Merchants Bank of Indiana's primary federal regulator is the FDIC.
What is Merchants Bank of Indiana's CET1 capital ratio?
It reported a Common Equity Tier 1 (CET1) capital ratio of 11.76% in its Q2 2026 call report, above regulatory requirements.
How many branches does Merchants Bank of Indiana operate?
It operates 8 domestic offices, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is Merchants Bank of Indiana's Texas Ratio?
Its Texas Ratio is 11.64% in its Q2 2026 call report, within the healthy range (at or below 50%, the level at which problem assets reach half of the capital cushion). The Texas Ratio measures non-performing assets against the bank's capital and reserves.
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