Bank · FDIC insured
Merchants Bank
Top CarrotA $21.2B bank, the 105th largest of 4,207, headquartered in Carmel, IN, with 8 branches in Indiana. Best rates: CDs 4.08% and savings 3.75% APY.
Merchants Bank Carrot Score
Carrot ScoreTop Carrot
Higher than 84% of U.S. banks and credit unions
#7 of 43 in Indianapolis, IN metroHow the score works →
Deposits are federally insured by the FDIC up to $250,000 per depositor.
About Merchants Bank
Merchants Bank is headquartered in Indiana and serves customers nationwide through banking centers, regional production offices, and a digital banking platform.
The bank provides retail and correspondent residential mortgage banking, multifamily financing, business and agricultural lending, mortgage warehouse financing, and traditional banking services.
- Headquarters
- 410 Monon Blvd, Carmel, IN 46032
- FDIC certificate
- 8056 ↗
Branches
8 branches in Indiana
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Indiana
8 branches
Indianapolis area · 3
- Merchants Bank of IndianaMain office410 Monon Blvd, Carmel, IN 46032Directions
- Merchants Bank Of Indiana Carmel Office Branch11590 N Meridian St, Carmel, IN 46032Directions
- Indianapolis Bank Branch3737 E 96th St, Indianapolis, IN 46240Directions
Lynn area · 2
- Lynn Branch201 South Main Street, Lynn, IN 47355Directions
- Spartanburg Branch6880 S Arba Pike, Lynn, IN 47355Directions
Richmond area · 2
- Merchants Bank Of Indiana - The Richmond Branch701 E Main St, Richmond, IN 47374Directions
- Richmond Branch1400 Industries Road, Suite 200, Richmond, IN 47374Directions
Bloomington area · 1
- Bloomington Branch101 W Kirkwood Ave, Bloomington, IN 47404Directions
Walk-in offices from the FDIC directory as of September 4, 2026. Directions open Google Maps. A nearby branch doesn’t mean you can join or open an account.
Financial details
| Measure | This bank | Peers’ middle | Strongest quarter |
|---|---|---|---|
| CapitalLeverage ratio | 11.28% | 9.97% | 10.85% or more |
| Troubled loansNoncurrent | 1.18% | 0.70% | 0.47% or less |
| ProfitabilityReturn on assets | 1.49% | 1.23% | 1.55% or more |
| LendingLoans per $100 deposited | $121 | $85 | — |
- CapitalLeverage ratio11.28%Peers’ middle 9.97% · Top 25% 10.85%+
- Troubled loansNoncurrent1.18%Peers’ middle 0.70% · Top 25% ≤0.47%
- ProfitabilityReturn on assets1.49%Peers’ middle 1.23% · Top 25% 1.55%+
- LendingLoans per $100 deposited$121Peers’ middle $85
Compared with the 164 banks with $10 billion or more in assets. The strongest quarter is what the best 25% of them reach: more capital and profit, fewer troubled loans. Lending has no better end.Troubled loans are noncurrent: 90 or more days late, or no longer earning interest.
Regulators’ own ratings of Merchants Bank are confidential. These figures are what it reports to the FDIC each quarter, set beside its peers; they aren’t a rating.