Merchants Bank of Indiana


Merchants Bank of Indiana is an FDIC insured institution headquartered at 410 Monon Blvd, Carmel, IN 46032.
It was founded in 1923 and has approximately $11 billion in assets. Customers can open an account at one of its 5 branches.

Deposit Rates - March 30, 2023

MM RATES APY MIN
Money Market
4.50% $50 Compare

Overview 2023

General Bank Information

FDIC Insured Yes
FDIC Certificate # 8056
Date Established 1923
Assets $ 10.82 billion
Loans $ 9.69 billion
Deposits $ 10.17 billion
Capital $ 1,326.67 million

Summary Balance Sheet as of September 30, 2022

ASSETS
Cash & Balances due from depository institutions $ 319.15 million
Interest-bearing balances $ 307.17 million
Total securities $ 1,317.59 million
Federal funds sold and reverse repurchase $ 3.50 million
Net loans and leases $ 9.69 billion
Loan loss allowance $ 38.22 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 153.47 million
All other assets $ 147.26 million
     Total Assets $ 10.39 billion

LIABILITIES
Total deposits $ 10.17 billion
      Interest-bearing deposits $ 9.83 billion
      Deposits held in domestic offices $ 10.17 billion
      % insured (estimated) 72.58%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 1,420.75 million
Subordinated debt N.A.
All other liabilities $ 107.08 millionn
      Total Liabilities $ 10.39 billion
      Shareholders’ Equity $ 438.34 million

Summary Income Statement as of September 30, 2022

INCOME AND EXPENSES
Total Interest Income $ 291.89 million
Total Interest Expense $ 71.93 million
Net interest income $ 219.96 million
Provision for loan and lease losses $ 11.11 million
Total non interest income $ 99.90 million
Total non interest expense $ 94.39 million
Pre-tax Net Operating Income $ 137.57 million

Customer Reviews for Merchants Bank of Indiana (1)

Rated 3.00 stars out of 5 - based on 1 reviews
  • Seems to be run by one really nice young lady who is working her ass off to answer the phone. I feel so sorry for her, but the absence of a transfer process made this one too difficult for me.


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Merchants Bank of Indiana Locations