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 $17 billion in assets. Customers can open an account at one of its 5 branches.

Deposit Rates - May 21, 2024

MM RATES APY MIN
Money Market
5.00% $50 Compare

Overview 2024

General Bank Information

FDIC Insured Yes
FDIC Certificate # 8056
Date Established 1923
Assets $ 16.64 billion
Loans $ 13.20 billion
Deposits $ 13.87 billion
Capital $ 1,645.88 million

Summary Balance Sheet as of June 30, 2023

ASSETS
Cash & Balances due from depository institutions $ 506.19 million
Interest-bearing balances $ 492.31 million
Total securities $ 1,583.88 million
Federal funds sold and reverse repurchase $ 3.35 million
Net loans and leases $ 13.20 billion
Loan loss allowance $ 71.16 million
Trading account assets $ 722.50 million
Bank premises and fixed assets N.A.
Other real estate owned $ 0.11 million
Goodwill and other intangibles $ 166.68 million
All other assets $ 147.26 million
     Total Assets $ 14.99 billion

LIABILITIES
Total deposits $ 13.87 billion
      Interest-bearing deposits $ 13.33 billion
      Deposits held in domestic offices $ 13.87 billion
      % insured (estimated) 81.12%
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 $ 14.99 billion
      Shareholders’ Equity $ 1,645.88 million

Summary Income Statement as of June 30, 2023

INCOME AND EXPENSES
Total Interest Income $ 1,062.04 million
Total Interest Expense $ 619.09 million
Net interest income $ 442.95 million
Provision for loan and lease losses $ 40.26 million
Total non interest income $ 107.89 million
Total non interest expense $ 168.14 million
Pre-tax Net Operating Income $ 137.57 million

Customer Reviews for Merchants Bank of Indiana (2)

Rated 2.00 stars out of 5 - based on 2 reviews
  • everything is a challenge for these guys.

    I would not recommend it to anyone outside their geography who can get to one of their physical locations to fix stuff in person.

  • 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