Merchants Bank of Indiana
Carmel, IN · Owner: Merchants Bcorp
$21.2B
total assets, June 30, 2026
$21.2B
total assets, June 30, 2026
Merchants Bank of Indiana is a state nonmember bank based in Carmel, IN, owned by Merchants Bcorp. As of June 30, 2026 it held $21.2 billion in assets and $14.3 billion in deposits; assets were up 10.9% from a year before. It has 8 branches.
Updated Oct 11, 2026 · numbers as of June 30, 2026
Total assets
$21.2B
+10.9% in a year · +4.5% in a quarter
Deposits
$14.3B
+12.5% in a year · +10.0% in a quarter
Loans
$17.4B
+15.5% in a year · +4.4% in a quarter
Profit so far
$151M
Jan 1 to Jun 30, 2026 · +52.1% in a year
Capital ratio
11.28%
+0.03 pts in a year
Return on assets
1.49%
+0.43 pts in a year
Facts
- Type
- State nonmember bank
- Head office
- 410 Monon Blvd, Carmel, IN, 46032
- County
- Hamilton
- Holding company
- Merchants Bcorp
- Established
- Jun 23, 1923
- Employees
- 743
- Branches
- 8
- Website
- www.bankmerchants.com
- Id
- b8056
Quarter by quarter
March 31, 1984 to June 30, 2026
Assets, deposits and loans
Each quarter end, US dollars
Profit by quarter
Net income of each quarter, the last 12
Ratios
Percent. Return on assets and net interest margin are yearly rates.
Branches
8 offices as of June 30, 2026, holding $14.3 billion in deposits
Branch map
Every branch, sized by its deposits
| State | Branches | Deposits | Share |
|---|---|---|---|
| Indiana | 8 | $14.3B | 100.0% |
| Largest branches | Place | Deposits |
|---|---|---|
| Merchants Bank Of Indiana (main office) | Carmel, IN | $12.6B |
| Merchants Bank Of Indiana - The Richmond Branch | Richmond, IN | $492M |
| Merchants Bank Of Indiana Carmel Office Branch | Carmel, IN | $490M |
| Indianapolis Bank Branch | Indianapolis, IN | $453M |
| Lynn Branch | Lynn, IN | $143M |
| Spartanburg Branch | Lynn, IN | $67.6M |
| Bloomington Branch | Bloomington, IN | $45.1M |
| Richmond Branch | Richmond, IN | $13.4M |
Related pages
Questions and answers
How big is Merchants Bank of Indiana?
$21.2 billion in total assets and $14.3 billion in deposits as of June 30, 2026, with assets up 10.9% from a year before. Its loans were $17.4 billion.
How many branches does Merchants Bank of Indiana have?
8 branches in Indiana as of June 30, 2026.
Is Merchants Bank of Indiana profitable?
Yes: it earned $151.0 million from January 1 to June 30, 2026 (up 52.1% from the same months a year before). Its return on assets was 1.49% a year; about 1% is typical.
Who owns Merchants Bank of Indiana?
Merchants Bank of Indiana is owned by Merchants Bcorp, its holding company.
Official public data from the reports every insured bank files each quarter. Profit so far runs from January 1 to the quarter end. Branch deposits are counted once a year, as of June 30. New quarters appear about two months after the quarter ends.