Merchants Bank of Indiana (FDIC certificate #8056) is based in Carmel, Indiana. Its Q2 2026 call report shows $21.2B in total assets and $14.3B in deposits and 8 offices.
Merchants Bank of Indiana has a TellerScore of 63 out of 100 (moderate) based on Q2 2026 data — higher than only 39% of its 132 banks with $10 billion – $100 billion. Among 88 banks headquartered in Indiana, it ranks 54th. Earnings contributes the most (80/100, 1.49%); funding & liquidity contributes the least (35/100, 121% loans-to-deposits, 29% uninsured).
TellerScore · Q2 2026
Scorecard
The TellerScore is our own summary of the figures this institution reports publicly; it is not issued or endorsed by any government agency. It is not a prediction, and deposits within insurance limits are protected either way.
9 quarters
Health trend
From Q2 2025 to Q2 2026, the score rose 7 points (56 → 63), mostly because the earnings component improved by 18 points.
Show as table
| Quarter | TellerScore |
|---|---|
| Q2 2024 | 70 |
| Q3 2024 | 61 |
| Q4 2024 | 59 |
| Q1 2025 | 57 |
| Q2 2025 | 56 |
| Q3 2025 | 54 |
| Q4 2025 | 61 |
| Q1 2026 | 61 |
| Q2 2026 | 63 |
Show as table
| Quarter | Tier 1 leverage ratio |
|---|---|
| Q2 2024 | 10.55% |
| Q3 2024 | 10.40% |
| Q4 2024 | 11.20% |
| Q1 2025 | 11.85% |
| Q2 2025 | 11.26% |
| Q3 2025 | 11.58% |
| Q4 2025 | 11.28% |
| Q1 2026 | 11.91% |
| Q2 2026 | 11.28% |
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| Quarter | Noncurrent loans |
|---|---|
| Q2 2024 | 0.98% |
| Q3 2024 | 1.45% |
| Q4 2024 | 1.91% |
| Q1 2025 | 1.91% |
| Q2 2025 | 1.67% |
| Q3 2025 | 1.97% |
| Q4 2025 | 1.27% |
| Q1 2026 | 1.49% |
| Q2 2026 | 1.18% |
Show as table
| Quarter | Return on assets |
|---|---|
| Q2 2024 | 1.88% |
| Q3 2024 | 1.71% |
| Q4 2024 | 1.81% |
| Q1 2025 | 1.27% |
| Q2 2025 | 1.05% |
| Q3 2025 | 1.09% |
| Q4 2025 | 1.20% |
| Q1 2026 | 1.41% |
| Q2 2026 | 1.49% |
| Quarter | Score | Assets | Capital | Problem loans | ROA | Loans/deposits |
|---|---|---|---|---|---|---|
| Q2 2026 | 63 | $21.2B | 11.28% | 1.18% | 1.49% | 120.5% |
| Q1 2026 | 61 | $20.3B | 11.91% | 1.49% | 1.41% | 126.9% |
| Q4 2025 | 61 | $19.4B | 11.28% | 1.27% | 1.20% | 117.9% |
| Q3 2025 | 54 | $19.3B | 11.58% | 1.97% | 1.09% | 107.6% |
| Q2 2025 | 56 | $19.1B | 11.26% | 1.67% | 1.05% | 117.2% |
| Q1 2025 | 57 | $18.7B | 11.85% | 1.91% | 1.27% | 118.0% |
| Q4 2024 | 59 | $18.6B | 11.20% | 1.91% | 1.81% | 121.5% |
| Q3 2024 | 61 | $18.6B | 10.40% | 1.45% | 1.71% | 112.1% |
| Q2 2024 | 70 | $18.2B | 10.55% | 0.98% | 1.88% | 97.7% |
132 peers · $10 billion – $100 billion
How it compares with peers
Percentile against banks of similar size nationwide (100th = best among peers; for ratios where lower is better, the scale is flipped).
Similar-size banks in Indiana
| Institution | Score | Assets | Capital | Problem loans | Compare |
|---|---|---|---|---|---|
| First Merchants BankBank Muncie, IN | 58 out of 100, Moderate | $21.3B | 10.0% | 0.82% | vs |
| Centier BankBank Whiting, IN | 67 out of 100, Moderate | $10.4B | 10.7% | 0.82% | vs |
| Old National BankBank Evansville, IN | 59 out of 100, Moderate | $73.9B | 8.8% | 0.92% | vs |
Deposit insurance
Is my money safe at Merchants Bank of Indiana?
Yes. Merchants Bank of Indiana is an FDIC-insured institution (FDIC certificate #8056). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category.
An estimated 29.0% of deposits ($4.2B) are above the $250,000 FDIC insurance limit, below the peer median of 38%. Insured balances are protected regardless of the score.
The tier 1 leverage ratio is 11.28%, well above the 5% level regulators use as the "well capitalized" benchmark for this measure. Its total risk-based capital ratio is 12.18% (benchmark: 10%).
8 locations
Branches
Merchants Bank of Indiana lists 8 offices in 5 cities. Most locations:
- Carmel, IN (2)
- Lynn, IN (2)
- Richmond, IN (2)
- Bloomington, IN (1)
- Indianapolis, IN (1)
HMDA 2025
Mortgage lending
In 2025, Merchants Bank of Indiana reported 1,366 home-loan applications under HMDA (LEI 549300WRDGBHKR1BXL98): 1,014 originated ($2,167,530,000 total), 109 denied, and 229 withdrawn or closed by the applicant. Its denial rate on decided applications was 9.6%, compared with 22.2% for all lenders nationwide.
Denial rates depend heavily on loan type and applicant mix and are not a measure of fairness or of your own odds.
Identity & history
Profile
- Legal name
- Merchants Bank of Indiana
- Former names
- Greensfork Township State Bank
- Type
- State-chartered bank
- FDIC certificate #
- 8056
- RSSD ID
- 963945
- Primary regulator
- FDIC
- Holding company
- Merchants Bcorp
- Established
- June 23, 1923
- Headquarters
- 410 Monon Blvd, Carmel, IN 46032
- Website
- www.bankmerchants.com
- Employees
- 743
Quick answers
Merchants Bank of Indiana: common questions
Is Merchants Bank of Indiana FDIC insured?
Yes. Merchants Bank of Indiana is an FDIC-insured institution (FDIC certificate #8056). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category.
What is Merchants Bank of Indiana's TellerScore?
63 out of 100 (Moderate), based on its Q2 2026 publicly reported figures. The TellerScore is our own summary and is not issued by any government agency.
Has Merchants Bank of Indiana ever failed?
There is no failure record for FDIC certificate #8056 in the FDIC failed bank list.
How many branches does Merchants Bank of Indiana have?
8 offices as of the latest FDIC data.
Nearby
Highest-scoring banks and credit unions with branches near Carmel
| Institution | Score | Assets | Capital | Problem loans | Compare |
|---|---|---|---|---|---|
| H a L E Federal Credit UnionCredit union Indianapolis, IN | 100 out of 100, Very strong | $399K | 25.1% | 0.00% | vs |
| Mt Zion Indianapolis Federal Credit UnionCredit union Indianapolis, IN | 98 out of 100, Very strong | $1.4M | 38.3% | 0.00% | vs |
| Professional Police Officers Credit UnionCredit union Indianapolis, IN | 92 out of 100, Very strong | $58.7M | 14.8% | 0.00% | vs |
| 1st Street Credit UnionCredit union Sarasota, FL | 89 out of 100, Very strong | $34.5M | 14.7% | 0.10% | vs |
| Cs Credit UnionCredit union Catawba, NC | 84 out of 100, Strong | $30.5M | 18.7% | 0.46% | vs |
| Greenfield Banking CompanyBank Greenfield, IN | 84 out of 100, Strong | $930.5M | 13.9% | 0.35% | vs |