Merchants Bank of Indiana: Call Report & UBPR Financial Data
Data as of · sourced from FFIEC call reports. How we update
Merchants Bank of Indiana is a regional commercial bank serving Indiana and adjacent markets, with headquarters in Carmel. The Q2 2026 balance sheet stands at $21.2B in assets, including $17.4B in loans. Profitability is strong, 1.58% ROA, paired with 14.15% ROE and a 2.86% net interest margin. Regulatory capital is solid, 11.76% CET1 and 12.18% total risk-based capital ratio. Credit conditions bear watching: 1.66% NPL ratio with a 15.13% Texas Ratio (elevated but below the 100% concern level). 8 branches make up the footprint.
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 1.66%, a Texas ratio of 15.13%, per financial data filed with the FFIEC.
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
- Offices
- 8 domestic
- 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 |
|---|---|---|
| Dury Michael R. | CEO | CEO of Merchants Capital |
| Sievers Sean A. | CFO | CHIEF FINANCIAL OFFICER |
| Dunlap Michael J. | COO | President, COO |
| Petrie Michael F. | CHR | Chairman and CEO |
| Schroeter Martin A | PRES | President-Warehouse Lending |
| Oznick Terry A | GC | SVP, General Counsel |
Profitability
Capital & Liquidity
Balance Sheet
Income Statement
Operating & Funding
Rows tagged YTD are fiscal year to date through June 30, 2026, as filed. Net income is tagged Q2 because it is that quarter's own figure, not a running total, so it cannot be compared with a YTD row.
Quarterly trends
Last 12 quarters from this bank's own FFIEC call reports. Dollar figures are the quarter's own amount: the income statement is filed year to date, so those lines are shown net of the preceding quarter.
Balances at each quarter end. The gap between the two lines is equity capital.
Balances at each quarter end. Loans rising toward deposits is the loan-to-deposit ratio tightening.
Balances at each quarter end. Each line is its own balance, not stacked on the other.
Each bar is that quarter alone. The gap between the two is net interest income.
What the balance sheet earned on spread that quarter, before fees and operating costs.
Fees, trading and other income against salaries, premises and the rest of the cost base.
What the bank charged to earnings that quarter to build its allowance for expected losses.
The quarter's own net income, as filed. It needs no adjustment because the filing does not accumulate it through the year.
CET1 is common equity tier 1 as a share of risk-weighted assets; the leverage ratio is tier 1 capital as a share of average total assets. A bank that files the community bank leverage ratio reports no CET1 ratio, so only its leverage line appears.
Inside the full Merchants Bank of Indiana terminal
26 years of quarterly trends · 8 tabs · peer percentiles · Excel export
Unlock Merchants Bank of Indiana, 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
How this bank ranks on each leaderboard. Click any rank to see the full ranked list.
Ranked among banks that report this metric, so the total differs from card to card. The CET1 ranking leaves out community bank leverage ratio filers, which report no CET1 ratio.
Quarterly trend: last 8 quarters
Quarter-over-quarter movement in the five most-watched ratios. Sourced from the bank's own FFIEC call report filings.
| Quarter | CET1 | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 11.76% | 1.58% | 1.66% | 15.13% | 2.86% |
| Q1 2026 | 11.93% | 1.48% | 1.62% | 14.54% | 2.94% |
| Q4 2025 | 12.84% | 1.46% | 2.13% | 16.90% | 2.98% |
| Q3 2025 | 12.75% | 1.20% | 2.72% | 19.09% | 2.90% |
| Q2 2025 | 12.51% | 0.84% | 2.53% | 17.49% | 2.88% |
| Q1 2025 | 12.15% | 1.34% | 2.54% | 17.54% | 2.91% |
| Q4 2024 | 12.29% | 2.10% | 2.54% | 17.71% | 3.05% |
| Q3 2024 | 11.39% | 1.37% | 1.91% | 14.12% | 3.06% |
Swipe the table sideways to see every column.
Branch Network
Every branch from the FDIC Summary of Deposits, mapped, and listed with the deposits booked at each location. The FDIC's office count above also includes administrative and limited-service offices, so the two totals can differ. View all 8 branches →
| 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 | merger | 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 | merger | 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
What the public regulatory sources show for Merchants Bank of Indiana, each with its period and source. These are facts as filed or published, not a rating or score. "Not on file" means we hold no record from that source, which is not the same as a clean record.
- Enforcement actions
- Not on file: no matched FDIC, Federal Reserve or OCC action
- Period: not on file. Source: FDIC, Federal Reserve and OCC enforcement releases.
- Deposit market share
- 6.5% of deposits in IN, rank 4 of 131 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.
- Consumer complaints
- Not on file: no CFPB complaints matched
- Period: not on file. Source: CFPB consumer complaint database.
- CFPB enforcement
- Not on file: CFPB enforcement actions are not loaded
- Period: not on file. Source: CFPB enforcement actions.
- CRA examination rating
- Not on file: FFIEC CRA ratings are not loaded
- Period: not on file. Source: FFIEC CRA ratings.
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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. All figures come directly from the bank's quarterly Schedule RC filing.
Where is Merchants Bank of Indiana headquartered?
Merchants Bank of Indiana is headquartered in Carmel, IN, United States. It files quarterly FFIEC call reports as required of all FDIC-insured commercial banks.
When was Merchants Bank of Indiana founded?
Merchants Bank of Indiana was established in 1923, per the FDIC institution directory.
Is Merchants Bank of Indiana FDIC-insured?
Yes. Merchants Bank of Indiana 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. All FDIC-insured banks also report to the FDIC and, depending on charter, the Federal Reserve.
What is Merchants Bank of Indiana's CET1 capital ratio?
Merchants Bank of Indiana 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?
Merchants Bank of Indiana 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?
Merchants Bank of Indiana's Texas Ratio is 15.13% in its Q2 2026 call report, within the healthy range (under 25%). The Texas Ratio measures non-performing assets against the bank's capital and reserves; the glossary entry for the Texas Ratio carries the full definition.
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