Total Assets
$19.0B
Total balance-sheet footings
FDIC Cert #4365 · Muncie, Indiana · Est. 1893
First Merchants Bank - FDIC Bank Health Profile
A community-scale look at First Merchants Bank's own numbers, pulled straight from its quarterly FDIC Call Report.
- $19.0B
- Total assets
- A
- Health grade · Excellent
- 1.27%
- Return on assets
- 11.9%
- Tier 1 capital
Data updated July 2026
The verdict
First Merchants Bank earns a PlainBankData health grade of A (80/100), with well-capitalized at 11.86% Tier 1, profitable at 1.27% ROA, efficient (55% cost ratio).
- #108
- largest of 4,313 FDIC banks by assets
- 98th
- percentile by asset size, nationally
- 11.86%
- Tier 1 ratio - above the 10% well-capitalized line
- 62nd
- percentile for profitability (ROA), nationally
The grade above reflects PlainBankData's own read of the bank's regulatory filings, not an FDIC judgment, deposit coverage stays at $250,000 per depositor, per category, unaffected by it.
How First Merchants Bank's 80/100 score adds up
Each factor is scored from this bank's own FDIC Call Report figures, then summed to the composite health score.
First Merchants Bank's composite health score
Tier 1 Capital Ratio (11.86%) 28/40
Return on Assets (ROA) (1.27%) 20/25
Texas Ratio (2.77%) 20/20
Efficiency Ratio (54.97%) 12/15
80 of 100 points earned across four weighted factors. See our methodology for the full scoring formula.
Balance sheet at a glance
Total Deposits
$15.3B
Customer-funded liabilities
Net Loans
$13.6B
Outstanding loan book
Net Income
$236M
Bottom-line earnings
Capital adequacy vs federal thresholds
Where First Merchants Bank ranks
Every one of the 4,307 FDIC-insured banks with a computed health score, bucketed by score. First Merchants Bank's score of 80/100 falls in the highlighted band.
First Merchants Bank's size among FDIC-insured banks
Every one of the 4,307 FDIC-insured banks with reported assets, bucketed by total-asset scale (note the buckets are powers of 10, most banks cluster in the $100M-$1B range). First Merchants Bank's $19.0B falls in the highlighted band.
Safety metrics
Tier 1 capital ratio
Well-capitalized 10%
11.86% of risk-weighted assets - above the federal "well-capitalized" threshold of 10%.
Tier 1 Capital Ratio
11.86%
Texas Ratio
2.77%
Equity Capital
$2.5B
Profitability metrics
Return on Assets (ROA)
62nd percentile nationally
1.27%
Return on Equity (ROE)
9.95%
Efficiency Ratio
54.97%
What the numbers say about First Merchants Bank
First Merchants Bank is an FDIC-insured institution (Certificate #4365) headquartered in Muncie, Indiana, established in 1893. It holds $19.0B in total assets - 108th of 4,313 FDIC-insured banks, $15.3B in customer deposits, and $13.6B in net loans. Capital-wise, the Tier 1 ratio sits at 11.86%, clearing the federal 10% well-capitalized bar; the Texas Ratio reads 2.77%, a healthy figure under the 50% watch level. That combination rolls up into a PlainBankData health grade of A (80 of 100), blending Tier 1 capital, ROA, the Texas Ratio, and efficiency. These figures come directly from the bank's quarterly FDIC Call Report.
Nationally, First Merchants Bank sits in the top decile of all FDIC-insured institutions by asset size (108th of 4,313), and within Indiana it ranks 3rd of 90 state-chartered and national banks headquartered there. The next-largest bank in the state by assets is Centier Bank, at $9.7B. A bank of this scale carries systemic weight in its market -- its lending and deposit decisions move local credit availability in a way a community-scale institution's simply cannot.
Income & expense breakdown
$925M
Interest Income
$124M
Non-Interest Income
$371M
Non-Interest Expense
Asset quality, Texas Ratio detail
The Texas Ratio compares troubled assets to the capital available to absorb losses. First Merchants Bank reports a Texas Ratio of 2.77% - comfortably in the healthy band; non-performing loans are a small fraction of the bank’s loss-absorbing capital.
Texas Ratio
Caution 50%
2.77% - lower is safer; 100% is the level at which troubled assets equal loss-absorbing capital.
Top banks in Indiana by total assets
National size peers: banks closest to First Merchants Bank by assets
Measured strictly by total assets rather than geography, First Merchants Bank's closest national peers include Trustmark Bank, FirstBank Puerto Rico, Apple Bank, Merchants Bank of Indiana, spanning 6 different states -- a reminder that at this scale, competition and comparison happen nationally, not just within Indiana. Averaged across this asset-matched cohort, return on assets runs 1.12% (First Merchants Bank is above that at 1.27%), the efficiency ratio averages 55.16% (First Merchants Bank runs leaner at 54.97%), and Tier 1 capital averages 12.68% (First Merchants Bank holds less at 11.86%). None of this cohort competes on branch count alone -- balance-sheet scale, funding mix, and regulatory capital posture are the metrics that actually separate similarly-sized institutions.
At $19.0B in assets, First Merchants Bank has crossed the $10 billion threshold at which the CFPB takes over direct supervision for consumer-protection compliance under Dodd-Frank Act Section 1025, rather than leaving that oversight solely to the bank's primary prudential regulator.
| Bank | State | Assets | ROA | Efficiency | Tier 1 |
|---|---|---|---|---|---|
| First Merchants Bank (this bank) | IN | $19.0B | 1.27% | 54.97% | 11.86% |
| Trustmark Bank | MS | $18.9B | 1.26% | 62.79% | 12.33% |
| FirstBank Puerto Rico | PR | $19.1B | 1.69% | 49.71% | 15.60% |
| Apple Bank | NY | $19.2B | 0.34% | 78.94% | 11.30% |
| Merchants Bank of Indiana | IN | $19.4B | 1.20% | 43.06% | 12.84% |
| Stifel Bank and Trust | MO | $19.4B | 1.82% | 27.28% | 11.18% |
| Bank of Hope | CA | $18.5B | 0.42% | 69.20% | 12.82% |
Source: FDIC BankFind Suite, Call Report (FFIEC 031/041) First Merchants Bank (FDIC Cert #4365) - Tier 1 capital ratio, total assets, deposits, ROA/ROE · 2025 FDIC Call Reports filed quarterly; latest publicly-available vintage shown. Health grades are PlainBankData's interpretation of regulatory filings and are not official FDIC ratings.
Other banks in Indiana
All Indiana banks →| Bank | Assets | Grade | ROA |
|---|---|---|---|
| Old National BankEvansville | $71.8B | B | 1.16% |
| Merchants Bank of IndianaCarmel | $19.4B | A | 1.20% |
| Centier BankWhiting | $9.7B | A | 1.67% |
| 1st Source BankSouth Bend | $9.1B | A | 1.84% |
| German American BankJasper | $8.4B | A | 1.46% |
| Lake City BankWarsaw | $7.0B | A | 1.61% |
| Horizon BankMichigan City | $6.4B | C | -1.96% |
| United Fidelity Bank, fsbEvansville | $6.3B | D | -0.09% |
Frequently asked questions
What is First Merchants Bank's health grade?▼
First Merchants Bank receives a health grade of A (80/100) based on four FDIC financial metrics: Tier 1 Capital Ratio (40%), Return on Assets (25%), Texas Ratio (20%), and Efficiency Ratio (15%). This bank demonstrates excellent financial health with strong capital ratios and profitability.
How large is First Merchants Bank?▼
First Merchants Bank holds $19.0B in total assets and $15.3B in deposits, ranking 108th of 4,313 FDIC-insured banks by asset size. It is headquartered in Muncie, Indiana.
Is my money safe at First Merchants Bank?▼
Yes, deposits at First Merchants Bank (Certificate #4365) are FDIC-insured up to $250,000 per depositor, per ownership category, regardless of health grade.
What is First Merchants Bank's Tier 1 Capital Ratio?▼
First Merchants Bank has a Tier 1 Capital Ratio of 11.86%. That clears the federal 10% bar regulators use to call a bank "well-capitalized."
What is the Texas Ratio for First Merchants Bank?▼
First Merchants Bank has a Texas Ratio of 2.77%. Staying under 50% is the level analysts treat as healthy. The Texas Ratio measures non-performing loans against equity and reserves, a higher ratio signals greater exposure to loan losses.
How efficient is First Merchants Bank?▼
First Merchants Bank has an Efficiency Ratio of 54.97%. Under the 60% mark counts as efficient, more of every revenue dollar reaches the bottom line. This metric compares non-interest expenses to total revenue.
What to do with this
How to read First Merchants Bank's profile as a depositor or analyst.
- First Merchants Bank's grade reflects capital, profitability, and asset quality, read the four pillars before drawing conclusions. How grades work
- Compare First Merchants Bank against other Indiana banks before moving funds. Indiana banks
Not financial advice. Health grades are PlainBankData's interpretation of public FDIC Call Report data, not official FDIC ratings or predictions. Verify the latest figures at the FDIC BankFind Suite.
Every figure on PlainBankData is rendered directly from FDIC federal source data, no number is typed in by an editor. Informational only, not professional advice; consult a qualified professional before acting on it. See our editorial standards & corrections policy, the methodology behind these numbers, or report a data error. Data current as of Q4 2025.
Disclaimer: Data from the FDIC BankFind Suite. PlainBankData does not rate or rank banks as investment or safety recommendations. Health grades are informational only, computed from public regulatory filings. Always verify current standing directly with FDIC.gov before making financial decisions.