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First Merchants Bank

$10B-$250B Specialty: Commercial IN FDIC cert 4365

Muncie, IN

135 branches across IN · MI · OH · IL

NEW · Q2 2026 RECAP

Your Quarter, Wrapped

A 35-second highlight reel of your Q2 — the wins worth celebrating and the one signal worth watching, pulled straight from your scorecard data.

Q2 2026 at a glance

  • 1 of 139 banks in the $10B-$250B peer group nationwide — 1 of 4 in IN.
  • Deposits +12.9% year over year ($16.8B on the books).
  • Delinquency rate 0.83%.
  • Return on assets 0.78%.
  • Efficiency ratio 63.81% vs a 53.67% peer average.
  • Loan-to-deposit ratio 91.58% vs a 82.61% peer average.

Animation disabled (reduced-motion preference). Full details in the Core Metrics table below.

139 banks in the $10B-$250B peer group nationally 4 in IN
View $10B-$250B leaderboard (IN) →

First Merchants Bank has 1 strength but faces 3 concerns

Key Strengths include matched growth signatures, metrics ranked in the top 10%, and values meaningfully above the tier average.
Key Concerns include matched risk or decline signatures, metrics ranked in the bottom 10%, and values meaningfully below the tier average.

Key Strengths

Areas where this bank excels compared to peers

  • + Delinquency Rate 0.18% below tier average

Key Concerns

Areas that may need attention

  • - Margin Compression: Bottom 5.6% in tier
  • - Cost Spiral: Bottom 66.7% in tier
  • - Net Interest Margin 0.52% below tier average
Get updates when First Merchants Bank releases new data →

Core Metrics

As of 2026-Q2

Metric Current vs Tier Tier Avg State Avg (IN) National Avg Tier Percentile
Total Assets ? $21.3B
+14.7% YoY +1.3% QoQ
-$22.3B $43.6B
-13.8% YoY
$2.5B
+3.7% YoY
$6.3B
+7.7% YoY
42%
Total Loans ? $15.4B
+17.0% YoY -0.5% QoQ
-$12.6B $28.0B
-8.6% YoY
$1.8B
+5.7% YoY
$3.2B
+9.4% YoY
48%
Total Deposits ? $16.8B
+12.9% YoY +1.6% QoQ
-$18.6B $35.4B
-14.0% YoY
$2.0B
+3.4% YoY
$4.9B
+7.3% YoY
40%
Return on Assets ? 0.78%
-38.4% YoY +17.3% QoQ
-0.61% 1.39%
+25.9% YoY
1.07%
+3.3% YoY
1.30%
+12.1% YoY
Bottom 11.5% in tier
Net Interest Margin ? 3.40%
+6.3% YoY +0.5% QoQ
-0.52% 3.92%
+8.9% YoY
3.70%
+8.1% YoY
3.95%
+4.9% YoY
39%
Efficiency Ratio ? 63.81%
+16.3% YoY -13.4% QoQ
+10.14% 53.67%
-1.9% YoY
77.20%
+13.2% YoY
70.05%
+2.5% YoY
19%
Delinquency Rate ? 0.83%
+52.3% YoY +37.3% QoQ
-0.18% 1.01%
-2.8% YoY
0.91%
+27.8% YoY
0.98%
+16.3% YoY
43%
Loan-to-Deposit Ratio ? 91.58%
+3.7% YoY -2.1% QoQ
+8.97% 82.61%
+3.1% YoY
81.91%
+1.2% YoY
79.03%
+2.3% YoY
24%
Non-Interest-Bearing Deposit Share ? 22.99%
+51.2% YoY +0.5% QoQ
+2.41% 20.58%
+4.9% YoY
16.57%
-2.9% YoY
21.98%
-0.6% YoY
52%
Nonperforming Asset Ratio ? 0.61%
+56.8% YoY +34.7% QoQ
-0.12% 0.73%
+5.8% YoY
0.69%
+42.1% YoY
0.69%
+15.8% YoY
40%
Tier 1 Capital Ratio ? 11.50%
+1.0% YoY -0.7% QoQ
-3.85% 15.35%
-0.4% YoY
16.20%
+1.2% YoY
17.09%
+0.8% YoY
Bottom 10.1% in tier
Non-Interest Income / Assets ? 0.19%
-43.3% YoY
-0.31% 0.50%
+10.5% YoY
1.78%
-1.3% YoY
0.66%
+5.2% YoY
22%

Additional Detail

Deposit mix, loan mix, capital, efficiency, asset quality & profitability · As of 2026-Q2

Deposit Composition

% of total deposits

Metric Current vs Tier Tier Avg State Avg (IN) National Avg Tier Percentile
Noninterest-Bearing 23.0%
+7.8pp YoY
+0.1pp QoQ
 +2.0pp 21.0% 16.8% 22.2% 50%
Brokered Deposits 7.5%
-0.8pp YoY
-1.4pp QoQ
 -1.7pp 9.2% 7.2% 8.5% 63%

Loan Composition

% of total loans & leases

Metric Current vs Tier Tier Avg State Avg (IN) National Avg Tier Percentile
C&I 30.8%
-3.0pp YoY
+0.9pp QoQ
 +13.6pp 17.2% 11.1% 12.5% 91%
CRE 35.9%
+3.7pp YoY
+0.7pp QoQ
 -6.1pp 42.0% 36.2% 41.4% 30%
1-4 Family 23.0%
-0.6pp YoY
-1.3pp QoQ
 -0.1pp 23.1% 40.0% 31.3% 55%
Consumer 1.0%
-0.1pp YoY
0.0pp QoQ
 -11.9pp 12.9% 3.2% 5.0% 38%

Capital

Metric Current vs Tier Tier Avg State Avg (IN) National Avg Tier Percentile
CET1 Ratio 11.5%
+0.1pp YoY
-0.1pp QoQ
 -3.8pp 15.3% 17.5% 19.7% 11%
Leverage Ratio 10.0%
0.0pp YoY
-0.4pp QoQ
 -0.5pp 10.4% 13.0% 12.6% 45%
Total Capital Ratio 12.8%
+0.1pp YoY
-0.1pp QoQ
 -3.8pp 16.5% 18.7% 20.8% 12%

Efficiency & Staffing

Metric Current vs Tier Tier Avg State Avg (IN) National Avg Tier Percentile
Full-Time Employees 2,233
+224 (+11.1%) YoY
-25 (-1.1%) QoQ
 -1,025 3,258 237 482 56%
Assets per Employee ($) $9.5M
+3.2% YoY
+2.4% QoQ
 -$17.5M $27.0M $7.5M $8.8M 30%
Branch Count 135
+15 (+12.5%) YoY
0 QoQ
 -3 137 17 18 65%

Asset Quality

Metric Current vs Tier Tier Avg State Avg (IN) National Avg Tier Percentile
Past Due 90+ Days 0.1%
0.0pp YoY
0.0pp QoQ
 -0.3pp 0.4% 0.2% 0.4% 57%
Nonaccrual 0.8%
+0.3pp YoY
+0.2pp QoQ
 0.0pp 0.7% 0.8% 1.0% 61%
Allowance Coverage 1.89x
-30.6% YoY
-16.8% QoQ
 -0.92x 2.81x 6.71x 20.23x 54%
Net Charge-off Rate (YTD) 0.2%
+0.1pp YoY
-0.1pp QoQ
 -0.2pp 0.4% 0.1% 0.2% 56%

Profitability

Metric Current vs Tier Tier Avg State Avg (IN) National Avg Tier Percentile
ROE 6.0%
-4.0pp YoY
+0.9pp QoQ
 -6.6pp 12.6% 11.2% 11.6% 8%
Cost of Funds (YTD) 2.1%
-0.1pp YoY
0.0pp QoQ
 +0.2pp 2.0% 1.8% 1.7% 61%
Net Income ($, YTD) $79.7M
-31.6% YoY
— QoQ
 -$217.1M $296.8M $16.3M $40.4M 22%

Signature Analysis

Composite behavioral patterns that combine multiple metrics to identify what stands out about this bank. Matched signatures only; metric-level callouts appear in the Key Strengths / Key Concerns summary above.

Strengths are growth signatures this bank matches (e.g. Revenue Diversifier, Profitability Leader).
Concerns are risk or decline signatures this bank matches (e.g. Margin Compression, Credit Quality Pressure).

Strengths (0)

No matched strength signatures this quarter

Concerns (2)

Margin Compression

decline
#2 of 18 • Bottom 5.6% in tier

Profitability above 0.75% ROA but margins eroding by at least 0.10pp YoY. Something changed - rising costs or falling yields need addressing.

Why this signature
Return on Assets: 0.78%
(Tier: 1.39%, National: 1.30%)
worse than tier avg
18 of 18 Large banks match · 413 nationally
→ Stable +8 banks QoQ

Cost Spiral

risk
#9 of 12 • Bottom 66.7% in tier

Historically lean operator (efficiency < 75%) now seeing 5+ point efficiency ratio increase YoY despite strong profitability. Efficiency advantage eroding.

Why this signature
Efficiency Ratio: 63.81%
(Tier: 53.67%, National: 70.05%)
worse than tier avg
12 of 12 Large banks match · 184 nationally
→ Stable +9 banks QoQ | QoQ rank improving

Metric Rankings

See how this bank ranks across all tracked metrics compared to peers.

Strengths are metrics in the top 25% (75th percentile or higher).
Concerns are metrics in the bottom 25% (25th percentile or lower).
Comparing against 139 peers in $10B-$250B

Top Strengths (0 metrics)

No strength rankings available

Top Weaknesses (5 metrics)

126
Tier 1 Capital Ratio
capital
Value: 11.50%
Peer Median: 15.35%
#126 of 139 Bottom 10.1% in $10B-$250B
124
Return on Assets
profitability
Value: 0.78%
Peer Median: 1.39%
#124 of 139 Bottom 11.5% in $10B-$250B
114
Efficiency Ratio
profitability
Value: 63.81%
Peer Median: 53.67%
#114 of 139 Bottom 18.7% in $10B-$250B
110
Non-Interest Income / Assets
revenue_mix
Value: 0.19%
Peer Median: 0.50%
#110 of 139 Bottom 21.6% in $10B-$250B
107
Loan-to-Deposit Ratio
liquidity
Value: 91.58%
Peer Median: 82.61%
#107 of 139 Bottom 23.7% in $10B-$250B
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