Merchants Bancorp on Wednesday announces it has been recognized as the best-performing bank in the country, according to the 2021 S&P Global Market Intelligence Ranking, an annual ranking that assesses the performance of community banks and credit unions across the nation. Merchants is ranked first among public U.S. banks with more than $10 billion in assets.
S&P Global Market Intelligence launched its rankings more than 10 years ago with an intricate design that measures institutions’ returns, growth and efficiency with greater emphasis on the strength and risk profile of the bank’s balance sheets. Merchants Bancorp has been recognized on this national ranking for seven consecutive years, ranking the highest of any other Indiana institution since 2015.
The Carmel-based bank, which had $11.3 billion in assets at year-end 2021, was also among the top three in the 2019 and 2020 community bank rankings. Merchants’ total operating revenue has grown by at least 21 percent annually since 2017.
This performance was one of the main drivers of the bank’s 2021 public U.S. banks category ranking, which analyzed the financial performance of operating public banks trading on the Nasdaq, the New York Stock Exchange (NYSE), or the NYSE American. Companies were measured by three key indicators – growth, profitability and safety and soundness – based on year-end financials for 2021.
“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,” Merchants Bancorp Chairman and CEO Michael Petrie said. “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. Thank you to all of our employees. I greatly look forward to witnessing our continued success.”
This ranking comes after the company was named as one of the Best Places to Work in Indiana for the seventh consecutive year in February.