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Overview / Commentary
200 East Jackson Street
Muncie, IN 47305

First Merchants Bank (Muncie, IN) is headquartered in Muncie and is the 2nd largest bank in the state of Indiana. It is also the 158th largest bank in the nation. It was established in 1893 and as of June of 2017, it had grown to 1,520 employees at 114 locations. First Merchants Bank (Muncie, IN) has an A+ health rating.

Reviews (1)

A small local bank got worse as it got bigger

I started banking with them when it was called Cooper State Bank, which was locally owned in my city, with only a small handful of branches. They were the only bank that had very generous weekend hours, including being open for about four hours on Sundays. Due to my weird working schedule, this was the primary reason I signed up with them. Their staff was incredibly friendly and helpful, and I never had to spend more than a few moments inside to get stuff done. I am just a normal working class guy, but they still took it upon themselves to address me by name when I walked in, which made me feel at home. I had an experience with debit card fraud once, and they helped me resolve it incredibly quickly, to the point where the money was back in my account (provisionally) the next day. There were no hoops to jump through, just twenty minutes of filling out some paperwork and a brief chat with the branch manager, who not only got my money back, but gave me some tips on how to avoid this kind of problem in the future.

My savings account minimum balance is only $100, and there is no minimum on my free personal checking account. They offer CDs at pretty standard rates. I have not used any of their business services, but would feel confident with them.

However, they were acquired by a larger firm based out of a different state, called First Merchants Bank. Once this acquisition happened, some of the staff with whom I had become very familiar were replaced, and the bank changed its hours so that it was no longer open on the weekends. I have stayed with them because of their proximity to my home, and just because I am already set up through them and don't want the hassle of going elsewhere at this point. But this acquisition kind of ruined the two things (personal relations with employees, and weekend hours) that were the biggest selling points of the bank.


Health Grade Components

FDIC Certificate #4365
Year Established1893
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.35%
Return on Equity - YTD9.8%
Annual Interest Income$139.5MM
Assets and Liabilities
AssetsQ2 2017vs Q2 2016$7.76B$6.89B
LoansQ2 2017vs Q2 2016$5.55B$4.75B
DepositsQ2 2017vs Q2 2016$6.05B$5.45B
Equity CapitalQ2 2017vs Q2 2016$1.10B$967.1MM
Loan Loss AllowanceQ2 2017vs Q2 2016$70.5MM$62.2MM
Unbacked Noncurrent LoansQ2 2017vs Q2 2016$27.1MM$32.5MM
Real Estate OwnedQ2 2017vs Q2 2016$11.9MM$13.2MM

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