Two Indiana Banks on Forbes Best List
Forbes has ranked the best banks in the country and Indiana has placed two on the list. First Merchants Bank finished 2nd, and Old National Bancorp came in at 97.
The metrics used by the publication include tangible common equity, return on average assets, net interest margin, efficiency ratio and net charge-offs as a percentage of total loans. Forbes also factored nonperforming assets as a percentage of assets, CET1 ratio, risk-based capital ratio and operating revenue growth.
Muncie-headquartered First Merchants was listed as having $9.8B in assets with 25.3% operating revenue growth. The 1893-founded bank offers personal banking, business banking, mortgage lending, treasury management services, and wealth management.
Evansville-based Old National Bancorp was listed with $17.6B in assets with 10.8% operating revenue growth. The community banking company was founded in 1834 and employs over 2,800.
The top 5 best banks according to Forbes:
- Home Bancshares – Conway, AR
- First Merchants – Muncie, IN
- Community Bank System – DeWitt, NY
- CVB Financial – Ontario, CA
- SVB Financial Group – Santa Clara, CA
Click here for the entire list.