First Merchants among ‘World’s Best Banks’

Muncie-based First Merchants Corp. (Nasdaq: FRME) is included in the Forbes’ 2023 list of “The World’s Best Banks.” The list is based on an online survey of more than 48,000 people around the world who rated their banks on criteria such as general satisfaction, digital services and trust.

A total of 415 banks reached the minimum scores from the survey to be included. First Merchants is the only Indiana bank on this year’s list.

First Merchants CEO Mark Hardwick called being included on the list an honor.

“This recognition reinforces trust in First Merchants Bank throughout our four-state operating footprint,” Hardwick said in a statement to Inside INdiana Business. “Our vision is to enhance the financial wellness of the diverse communities we serve and we are committed to meeting those needs with a ‘helping you prosper’ mindset.”

Forbes said 30% of each bank’s score was based on general satisfaction, while another 30% was based on whether the person being surveyed would recommend the bank. The remaining 40% came from ratings in five categories: trust, terms and conditions, digital services, customer services and financial advice.

While the global list is not ranked, the banks are ranked based on their home country. First Merchants is ranked No. 31 in the U.S., which is led by Texas-based USAA.

You can connect to the full list by clicking here.