Top Banks in Indiana

Indiana is home to a robust banking sector, with several financial institutions consistently ranking among the top-performing in the nation. The largest and most influential banks in the state, including Old National Bancorp, 1st Source Bank, First Merchants Bank, Lake City Bank, and Centier Bank, are not only recognized for their financial strength but also for their commitment to serving both individuals and businesses. These banks have grown significantly over the years and have become central players in the state’s economy, providing a range of banking products and services that help drive local and regional development.

Old National Bancorp is the largest financial services holding company headquartered in Indiana. Its prominence in the state’s banking landscape cannot be overstated, as it has consistently performed well across various financial metrics. One of its notable achievements came when it was ranked as one of the top 25 best-performing banks in the nation by Forbes Magazine. This ranking highlighted the bank's exceptional ability to manage assets, maintain profitability, and provide valuable services to its customers. Old National Bancorp was also the highest-rated bank on the Forbes list in both Indiana and Kentucky, which underscored its status as a leading financial institution in the region. The Forbes ranking, published in December 2010, was based on several key performance indicators, including return on assets, return on equity, and efficiency ratio, among others. The recognition solidified Old National’s position as a financial powerhouse in the Midwestern United States.

In addition to its impressive performance in Forbes, Old National Bancorp has garnered numerous accolades for its community involvement, customer service, and innovation. The bank provides a wide array of services, including personal banking products like checking and savings accounts, mortgages, and home equity loans. It also offers business banking solutions such as business loans, cash management services, and merchant services, catering to the needs of small and medium-sized enterprises as well as larger corporations. The bank has continually expanded its reach by acquiring other institutions, ensuring that it remains a dominant player in the region. With a legacy that dates back to 1834, Old National Bancorp is deeply ingrained in the fabric of Indiana’s banking community, and its continued success ensures that it will play an important role in the state’s financial future.

Another major institution in Indiana’s banking sector is 1st Source Bank. Recognized as one of the best banks in the state, 1st Source Bank has built a reputation for its focus on supporting small businesses, particularly through its leadership in the Small Business Administration (SBA) lending program. In fact, 1st Source Bank ranked No. 1 in Indiana for the number of SBA 504 loans closed during the last fiscal year, outperforming over 120 other active SBA lenders in the state. This accomplishment underscores the bank’s commitment to fostering entrepreneurship and economic growth in Indiana by providing critical financing options to small businesses. SBA 504 loans are designed to help small businesses obtain long-term, fixed-rate financing for major fixed assets, such as real estate or equipment. By being the top SBA lender in the state, 1st Source Bank plays a pivotal role in enabling small businesses to thrive and expand, thus contributing to job creation and regional economic development.

1st Source Bank is known for its personalized approach to banking, offering a range of services that cater to both individuals and businesses. For consumers, the bank provides various products such as checking and savings accounts, home loans, auto loans, and personal lines of credit. On the business side, in addition to SBA loans, 1st Source offers commercial lending, cash management, and other business banking services. The bank’s focus on customer relationships and its deep understanding of the needs of local businesses have helped it build a strong customer base. With a history dating back to 1863, 1st Source Bank continues to be a trusted partner for individuals and businesses across Indiana.

First Merchants Bank is another significant player in Indiana’s banking scene. As the largest financial services holding company headquartered in Central Indiana, First Merchants has a broad and diverse customer base, offering a range of services including consumer banking, mortgage banking, business banking, cash management services, wealth management, and insurance. The bank’s footprint extends beyond Indiana, with operations in Ohio as well, making it a regional force in the banking industry. First Merchants Bank serves a variety of counties in Indiana, including Adams, Brown, Delaware, Fayette, Hamilton, and many others, which allows it to play a key role in the financial well-being of individuals and businesses across the state.

First Merchants Bank’s growth and success can be attributed to its wide array of services and its focus on both personal and business banking. The bank provides traditional banking products such as checking and savings accounts, credit cards, and loans, while also offering specialized services like business banking solutions, including loans for businesses of all sizes. It also provides wealth management services, including investment planning, retirement planning, and trust services. The bank's diverse range of products allows it to cater to the financial needs of a broad spectrum of customers, from individual consumers to large corporations. As a result, First Merchants Bank has earned a reputation as one of the most trusted and reliable financial institutions in the region.

Lake City Bank is a prominent player in the state’s banking industry, particularly in the Kosciusko County region, where it is headquartered. The bank is a subsidiary of Lakeland Financial Corporation, a holding company that has a long history of providing high-quality banking services. Lake City Bank has established itself as a key provider of commercial and retail banking services, trust and investment management, and brokerage services. With a history dating back to 1925, the bank has deep roots in the local community, and its commitment to customer service has helped it build a loyal customer base.

Lake City Bank serves a variety of customers, offering services such as business checking accounts, business loans, and commercial real estate financing to small and medium-sized enterprises. The bank also offers consumer banking services, including personal checking and savings accounts, mortgages, and auto loans. Additionally, Lake City Bank has expanded its services to include trust and investment management, allowing customers to access wealth management services and grow their assets over time. As one of the oldest state-chartered banks in Indiana, Lake City Bank’s experience and dedication to serving its customers have contributed to its strong position in the market.

Centier Bank, another important financial institution in Indiana, has made a name for itself with its community-focused approach and commitment to employee satisfaction. Centier was ranked as one of the "Best Places to Work in Indiana" by the Indiana Chamber of Commerce, earning top honors as the best employer in the state in 2010. This recognition speaks to the bank’s culture of excellence and its commitment to creating a positive work environment for its employees. Centier has also been named "Best Bank for Business" by Northwest Indiana Business Quarterly magazine, further highlighting its dedication to supporting local businesses.

Centier Bank offers a full range of services, including personal banking products such as checking and savings accounts, mortgages, and personal loans. On the business side, Centier provides commercial banking services, including business loans, cash management, and merchant services. Its focus on providing personalized, high-quality service to both individuals and businesses has earned it a strong reputation in the state.

The top banks in Indiana, including Old National Bancorp, 1st Source Bank, First Merchants Bank, Lake City Bank, and Centier Bank, are integral to the state’s economy. These institutions have earned recognition for their financial performance, customer service, and community involvement. They have consistently delivered value to their customers and contributed to the growth and development of Indiana’s economy. Whether through supporting small businesses with SBA loans, providing comprehensive wealth management services, or offering convenient personal banking products, these banks play an essential role in meeting the diverse financial needs of the state’s residents and businesses. Their continued success is a testament to their resilience and commitment to providing high-quality financial services to the communities they serve.