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Profitability · Indiana

Most Efficient US Banks (Lowest Efficiency Ratio) in Indiana

Ranked among banks headquartered in Indiana. Re-ranked 1-84 within the state from the same national ranking population.

#1 US Banks (Lowest Efficiency Ratio): GRANT COUNTY STATE BANK — 22.72% . The efficiency ratio measures non-interest operating expense against net revenue — a lower ratio means the bank converts more of each revenue dollar into pre-tax income.

Ranked: 84 banks with reported data Showing: Top 84 Source: FFIEC call reports (Q1 2026) What is this metric? See the Most Efficient US … glossary entry Go deeper: What Is the Bank Efficiency Ratio? Formula, Benchmarks, and What Moves It
# Bank HQ Most Efficient US … Total Assets
1 Grant County State Bank Swayzee , IN 22.72% $395.9M
2 Merchants Bank of Indiana Carmel , IN 41.71% $20.26B
3 Garrett State Bank, the Garrett , IN 43.77% $378.5M
4 Freedom Bank Huntingburg , IN 43.88% $583.7M
5 Bippus State Bank, the Huntington , IN 46.10% $432.1M
6 Lake City Bank Warsaw , IN 46.15% $7.08B
7 Old National Bank Evansville , IN 46.18% $72.61B
8 Alliance Bank Francesville , IN 46.89% $458.7M
9 1st Source Bank South Bend , IN 47.06% $9.11B
10 First Farmers Bank & Trust CO. Converse , IN 47.18% $3.55B
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11 First Bank of Berne Berne , IN 47.30% $1.08B
12 Farmers State Bank Lagrange , IN 48.69% $1.26B
13 German American Bank Jasper , IN 49.42% $8.37B
14 First Internet Bank of Indiana Fishers , IN 49.46% $5.68B
15 Centier Bank Merrillville , IN 49.77% $10.08B
16 Horizon Bank Michigan City , IN 50.45% $6.54B
17 Bedford Federal Savings Bank Bedford , IN 52.81% $285.5M
18 North Salem State Bank, the North Salem , IN 53.57% $775.1M
19 Bank of Wolcott Wolcott , IN 53.67% $278.8M
20 Kentland Bank Kentland , IN 53.90% $402.2M
21 Greenfield Banking Company Greenfield , IN 54.34% $909.0M
22 Farmers and Merchants Bank Laotto , IN 55.43% $314.5M
23 Springs Valley Bank & Trust Company French Lick , IN 55.63% $644.2M
24 Napoleon State Bank, the Napoleon , IN 55.93% $507.0M
25 First National Bank of Monterey, the Monterey , IN 56.15% $429.6M
26 Community State Bank Brook , IN 56.18% $155.0M
27 First Harrison Bank Corydon , IN 56.67% $1.28B
28 First Financial Bank, N.A. Terre Haute , IN 56.76% $6.12B
29 First State Bank of Middlebury Middlebury , IN 57.09% $811.8M
30 Peoples Bank, the Brownstown , IN 58.46% $325.6M
31 National Bank of Indianapolis, the Indianapolis , IN 59.06% $3.13B
32 Centrebank Veedersburg , IN 59.11% $118.4M
33 First Federal Savings Bank Huntington , IN 59.44% $557.5M
34 Mid-southern Savings Bank, F.S.B. Salem , IN 59.85% $228.0M
35 Fowler State Bank Fowler , IN 59.88% $190.5M
36 Crossroads Bank Wabash , IN 60.46% $598.0M
37 First Savings Bank Jeffersonville , IN 61.09% $2.39B
38 American Community Bank of Indiana Saint John , IN 61.69% $376.5M
39 Community State Bank Avilla , IN 63.87% $521.0M
40 State Bank Brownsburg , IN 64.51% $855.7M
41 Campbell & Fetter Bank Kendallville , IN 64.91% $353.4M
42 Peoples State Bank, the Ellettsville , IN 65.10% $487.4M
43 Citizens State Bank of New Castle New Castle , IN 65.61% $895.6M
44 Star Financial Bank Fort Wayne , IN 65.77% $3.19B
45 Fcn Bank, N.A. Brookville , IN 65.97% $797.6M
46 Riddell National Bank, the Brazil , IN 66.22% $381.0M
47 First Bank Midwest Richmond , IN 66.30% $1.51B
48 Fountain Trust Company, the Covington , IN 67.75% $854.7M
49 Home National Bank of Thorntown, the Thorntown , IN 67.93% $177.0M
50 The Farmers Bank, Frankfort, Indiana Frankfort , IN 68.25% $1.12B
51 First Merchants Bank Muncie , IN 68.55% $21.05B
52 Wayne Bank and Trust CO. Richmond , IN 68.77% $258.8M
53 Farmers and Merchants Bank, the Boswell , IN 68.84% $215.8M
54 First Federal Savings Bank of Angola Angola , IN 69.05% $139.8M
55 Lnb Community Bank Lynnville , IN 69.23% $184.8M
56 Union Savings and Loan Association Connersville , IN 69.60% $261.6M
57 New Washington State Bank, the New Washington , IN 69.71% $769.0M
58 Community First Bank of Indiana Kokomo , IN 70.34% $965.3M
59 Demotte State Bank Demotte , IN 70.36% $606.2M
60 Hoosier Heartland State Bank Crawfordsville , IN 70.62% $351.0M
61 Bath State Bank Bath , IN 71.05% $332.9M
62 Citizens Bank Mooresville , IN 71.74% $699.7M
63 Community State Bank Royal Center , IN 71.74% $169.3M
64 Security Federal Savings Bank Logansport , IN 72.29% $452.9M
65 Spencer County Bank Santa Claus , IN 72.32% $131.4M
66 Jackson County Bank Seymour , IN 72.35% $1.08B
67 Friendship State Bank, the Friendship , IN 72.47% $559.8M
68 Mutual Savings Bank Franklin , IN 73.02% $349.3M
69 Owen County State Bank Spencer , IN 73.05% $391.6M
70 First State Bank of Porter Porter , IN 74.58% $156.3M
71 Hendricks County Bank and Trust Company Brownsburg , IN 78.18% $239.9M
72 Logansport Savings Bank Logansport , IN 78.18% $285.5M
73 First Federal Savings Bank Rochester , IN 79.13% $690.3M
74 Tri-county Bank & Trust Company Roachdale , IN 80.96% $303.4M
75 First Federal Savings and Loan Association of Greensburg Greensburg , IN 81.42% $146.1M
76 Peoples Bank Munster , IN 83.23% $2.01B
77 Home Bank Sb Martinsville , IN 83.68% $431.7M
78 First National Bank Cloverdale , IN 85.69% $420.2M
79 First Federal Savings Bank Evansville , IN 90.45% $579.0M
80 Hometown Savings Bank, the Terre Haute , IN 94.18% $461.9M
81 Peoples Trust and Savings Bank Boonville , IN 98.50% $248.4M
82 Farmers and Mechanics Federal Savings Bank Bloomfield , IN 105.98% $116.0M
83 Clearpoint Federal Bank & Trust Batesville , IN 111.05% $133.5M
84 United Fidelity Bank, FSB Evansville , IN 160.53% $6.33B

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All data sourced from the most recent FFIEC call report filings, refreshed each quarter as new filings are processed. This leaderboard excludes banks with total assets under $100,000K to filter out anomalous micro-bank ratios. See /data-updates/ for the current data freshness window.

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