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 $18 billion in assets. Customers can open an account at one of its 5 branches.

Deposit Rates - November 9, 2024

MM RATES APY MIN
Money Market
4.75% $50 Compare

Overview 2024

General Bank Information

FDIC Insured Yes
FDIC Certificate # 8056
Date Established 1923
Assets $ 18.18 billion
Loans $ 14.63 billion
Deposits $ 14.97 billion
Capital $ 1,882.05 million

Summary Balance Sheet as of March 31, 2024

ASSETS
Cash & Balances due from depository institutions $ 540.88 million
Interest-bearing balances $ 530.64 million
Total securities $ 1,625.36 million
Federal funds sold and reverse repurchase $ 3.30 million
Net loans and leases $ 14.63 billion
Loan loss allowance $ 81.03 million
Trading account assets $ 682.77 million
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 186.88 million
All other assets $ 147.26 million
     Total Assets $ 16.30 billion

LIABILITIES
Total deposits $ 14.97 billion
      Interest-bearing deposits $ 14.53 billion
      Deposits held in domestic offices $ 14.97 billion
      % insured (estimated) 84.50%
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 $ 16.30 billion
      Shareholders’ Equity $ 1,882.05 million

Summary Income Statement as of March 31, 2024

INCOME AND EXPENSES
Total Interest Income $ 642.19 million
Total Interest Expense $ 381.89 million
Net interest income $ 260.30 million
Provision for loan and lease losses $ 15.35 million
Total non interest income $ 69.21 million
Total non interest expense $ 97.50 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