Merchants Bancorp Takes First Place in US Bank Performance Ranking for 2021

News provided by

Mar 24, 2022, 15:57 ET

CARMEL, Ind., March 24, 2022 /PRNewswire/ -- Merchants Bancorp (NASDAQ: MBIN) today 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% 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, NYSE or NYSEAM. 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," said Michael Petrie, Chairman and CEO of Merchants Bancorp. "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."

Today's ranking comes after the company was named as one of the Best Places to Work in Indiana for the seventh consecutive year in February.

Merchants Bancorp continues to seek driven employees for a variety of positions at its subsidiaries Merchants Bank of Indiana, Merchants Capital, and Farmers-Merchants Bank of Illinois. Learn about career opportunities at Merchants Bank of Indiana here, at Merchants Capital here, and at Farmers-Merchants Bank of Illinois here.

ABOUT MERCHANTS BANCORP
Ranked as the top performing U.S. public bank by S&P Global Market Intelligence, Merchants Bancorp is a diversified bank holding company headquartered in Carmel, Indiana, operating multiple lines of business, including multifamily housing and healthcare facility financing and servicing, mortgage warehouse financing, retail and correspondent residential mortgage banking, agricultural lending and traditional community banking. Merchants Bancorp, with $11.3 billion in assets and $9 billion in deposits as of Dec. 31, 2021, conducts its business through its direct and indirect subsidiaries, Merchants Bank of Indiana, Merchants Capital Corp., Farmers-Merchants Bank of Illinois, and Merchants Mortgage, a division of Merchants Bank of Indiana.

SOURCE Merchants Bancorp