Merchants Bank of Indiana: how it compares with its peers
Against 96 U.S. banks with half to twice its assets, Merchants Bank of Indiana's strongest measure in Q2 2026 is efficiency ratio (40.22% vs. a 55.30% peer median). Its weakest relative measure is net interest margin (2.86% vs. 3.67%).
| Measure | Merchants Bank of Indiana | Peer median | Rank |
|---|---|---|---|
| Return on assets Annualized net income over average assets. | 1.49% | 1.21% | Top third Ahead of 71% of peers |
| Net interest margin Annualized net interest income over earning assets. | 2.86% | 3.67% | Bottom third Ahead of 20% of peers |
| Efficiency ratio Noninterest expense per dollar of revenue. Lower is better. | 40.22% | 55.30% | Top third Ahead of 85% of peers |
| Assets per employee Total assets over full-time-equivalent staff. | $28.5M | $12.0M | Top third Ahead of 85% of peers |
| Loans to deposits Net loans and leases over total deposits. | 120.53% | 85.99% | Context |
What it means for lending operations
Its efficiency ratio of 40.22% is better than the 55.30% peer median. Banks that already run lean usually find their next gains in loan growth: faster digital applications and fewer borrowers abandoning a slow document chase.
Banks closest in size
- Citizens Business Bank, National Association Ontario, CA · $21.18B
- Mechanics Bank Walnut Creek, CA · $21.25B
- First Merchants Bank Muncie, IN · $21.32B
- Seacoast National Bank Stuart, FL · $21.34B
- Optum Bank, Inc. Draper, UT · $21.43B
- The Central Trust Bank Jefferson City, MO · $20.31B
Questions about Merchants Bank of Indiana
How big is Merchants Bank of Indiana?
Merchants Bank of Indiana, established in 1923, is headquartered in Carmel, IN. It reported $21.17B in total assets in its Q2 2026 FDIC call report and operates 8 offices.
What is Merchants Bank of Indiana's return on assets?
1.49% annualized in Q2 2026, against a 1.21% median for 96 U.S. banks with half to twice its assets, ahead of 71% of them.
What is Merchants Bank of Indiana's efficiency ratio?
40.22% in Q2 2026: it spent about 40 cents in noninterest expense for each dollar of revenue. The peer median is 55.30%, and lower is better.
Is Merchants Bank of Indiana growing its loans?
Net loans grew 15.7% over the year to Q2 2026, while deposits grew 12.5%.
Sources and method
Figures are from the FDIC’s public call report data for the quarter ending 06/30/2026, via FDIC BankFind. Return on assets and net interest margin are annualized year to date. Peers are U.S. banks with half to twice its assets in the same quarter, excluding this bank. The page refreshes daily, so new quarters appear as banks file. Compare another bank or see every Indiana bank ranked.