CARMEL, Ind. (Aug. 3, 2023) – Merchants Bank of Indiana (NASDAQ:MBIN) (“Merchants Bank”) is proud to announce the company’s Chairman and Co-Founder, Michael F. Petrie, has been honored by the Indiana Bankers Association (IBA) with the prestigious IBA Leaders in Banking Excellence award.
The annual Leaders in Banking Excellence awards, the IBA’s highest honor, celebrates exceptional leaders each year who have positively impacted Indiana banks and communities. Petrie, along with two other members of the Indiana banking community, will be inducted into the class of 2023 leaders in a formal ceremony on Aug. 4.
In 1990, Petrie and longtime business partner Randall Rogers founded Merchants Capital with their joint interests in mortgage banking and lending for multifamily projects. In 2002, they looked to grow the business into personal banking and founded Merchants Bank of Indiana, specializing in community banking through residential mortgage banking, personal and business banking, Small Business Administration (SBA) lending, agricultural lending, multifamily finance and mortgage warehouse lending. As of Jun. 30, 2023, Merchants Bancorp has $15.9 billion in assets, $13.1 billion in deposits, six bank branch locations across Indiana and numerous subsidiaries.
Additionally, Petrie chaired the Mortgage Bankers Association in 2004-05 and has served on numerous boards of directors, including the Federal Home Loan Bank of Indianapolis, the Society of Certified Mortgage Bankers, the Indiana Association of Community and Economic Development, the Indianapolis Neighborhood Housing Partnership, the Indiana Affordable Housing Council and Indianapolis Chamber of Commerce. He earned both his bachelor’s and master’s degrees from the Indiana University Kelley School of Business, earned the certified mortgage banker designation from the Mortgage Bankers Association, is a member of the IBA 40 Year Club and was named a Sagamore of the Wabash in 2004.
“To be named a Leader in Banking Excellence by an organization I’ve held in such high regard for decades is a tremendous honor,” Petrie said. “When I was first starting out in my finance career, my hope was that one day I could make a difference in my Indianapolis community. Being recognized for my work, dedication and influence 30 years later, I’m grateful to have made such an invaluable impact on Hoosiers statewide. Thank you to the Indiana Bankers Association for honoring me with an award my family and I will forever cherish.”
This news comes on the heels of another major award win for Petrie, as he was named to the Indianapolis Business Journal’s 2023 Indiana 250 in the financial and business services category for the second year in a row. Indiana 250 highlights 250 prominent individuals from across the state who are considered the most influential business leaders in Indiana.