Carmel-based Merchants Bancorp (Nasdaq: MBIN) is being recognized as the best-performing bank in the country by the 2021 S&P Global Market Intelligence Ranking. The annual ranking assesses the performance of community banks and credit unions around the country.
Merchants is ranked first among public banks in the U.S. with more than $10 billion in assets.
“It is an honor to receive this top ranking from S&P Global Market Intelligence, which serves as yet another testament to the hard work and dedication of our Merchants employees,” said Michael Petrie, chief executive officer of Merchants Bancorp. “Our company’s growth driven by our unique business model has enabled us to expand our footprint in Indiana, the Midwest and across the U.S., while continuing to maintain the highest quality of customer service for our clients.”
The bank says companies were measured by three key indicators: growth, profitability and safety and soundness, based on year-end financials for 2021.
Merchants has been included on the S&P Global Market Intelligence Ranking for seven consecutive years, ranking the highest of any other Indiana institution since 2015. The bank had $11.3 billion in assets at year-end 2021. Merchants says its total operating revenue has grown by at least 21% each year since 2017.