Merchants Bank of Indiana Receives Three Recognitions

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CARMEL, Ind. (May 6, 2019) – Merchants Bank of Indiana recently received three notable company recognitions: Best-Performing Community Bank in Indiana, the 2018 Raymond James Community Bankers Cup and Best Places to Work in Indiana.

“Congratulations to all of our talented employees for making it another year of outstanding performance for Merchants Bank,” said Michael F. Petrie, CEO and chairman of Merchants Bank of Indiana. “We are grateful to have a talented team of hardworking professionals who love what they do and are committed to providing the best experience for all of our customers in communities around Indiana.”

First, Merchants Bank of Indiana has once again been named by S&P Global Market Intelligence as a Best-Performing Community Bank, ranking No. 6 nationally.  Merchants was the highest ranking community bank in Indiana, placing No. 1 in the state. This is the 4th year the bank has received this national and statewide recognition.

The rankings are based on financials ending Dec. 31, 2018, for banks with $3 to $10 billion in assets.

Additionally, Raymond James, a diversified financial services firm, recognized Merchants Bank among the top 10% of community banks in the nation. The 2018 Raymond James Community Bankers Cup award recognizes banks based on various profitability, operational efficiency and balance sheet metrics.

The pool of banks considered for recognition includes all exchange-traded domestic banks, excluding mutual holding companies and potential acquisition targets, with assets between $500 million and $10 billion as of Dec. 31, 2018.

For the third recognition, Merchants Bank was named to the Best Places to Work in Indiana list for the fourth year in a row from the Indiana Chamber. This year, 125 Hoosier companies earned spots on the distinguished list, and Merchants Bank ranked No. 19 in the large companies category for businesses with 250 to 999 U.S. employees.

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