133 banks currently operate in the state of Indiana. These are banks that are also insured by the federal deposit insurance corporation. Of the banks operating within the state, 93 are also headquartered in the state. Therefore, these 93 banks can be considered Indiana-based banks though they might operate nationally or internationally. Banks operating within the state had in total $133 billion of assets, $110 billion of deposits and $82 billion of loans outstanding as of this writing. Looking at the asset composition of banks in Indiana, residential mortgages made up 12% of the assets managed by these banks. In addition to this, these banks in total employ 17,136 people within the state. This represents 0.3% of the population.

Density of Banks in Indiana

Banks in Indiana currently have a total of 1,830 branches located within the state. This equates to 2.7 branches per 10,000 people in Indiana.  If we take the data on the banks in Indiana and compare it with the banks operating in other states, we find that on this metric, banks in Indiana rank 29th out of the 52 states and territories. This is ranked in order of most to least branches per capita.  Taking a different approach, let’s look at the physical density of branches within this state. When the total square mileage of a state is factored in, banks in Indiana had on average 5.1 branches per 100 square miles. Therefore, Indiana ranks 15th out of 52 states and territories in terms of the most branches per square mile.

Performance of Banks in Indiana

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  • Net Interest Margin – banks in this state are on average above the national average on this metric. In total the net interest margin for the banks in Indiana is ranked 34th out of the 52 states and main territories in the country.
  • Return on Assets – in terms of this important return metric, banks in this state are on average higher than the national average. Altogether the Return on Assets for the banks in Indiana is ranked 16th out of the 52 states and main territories in the country.
  • Return on Equity – banks in the state of Indiana are on average generating a higher return on equity than the average bank in the United States. In total, the return on equity for banks in Indiana is ranked 25th out of the 52 states and main territories in the United States.
  • Loan to Deposit – Banks in this state are on average below the national average when it comes to loan to deposit. Loan to deposit ratio is a good way to assess the liquidity of a bank. Lower is better as it means that a bank is funding more of its lending activities with its deposit base. Banks in Indiana are ranked 17th out of the 52 states and main territories in the country when it comes to loan to deposits.
  • Nonperforming Assets – this metric is a good way to compare the quality of the assets of a bank as well as the performance of the assets. Banks operating in the state of Indiana are on average better than the national average when it comes to nonperforming assets. The level of nonperformance is what is important as a higher figure indicates a lower quality or a lower performing asset base. In total, banks in Indiana are ranked 18th out of the 52 states and main territories in the country on this metric.

5 Largest Banks in the state of Indiana

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As of this writing JPMorgan Chase Bank is the largest bank operating in Indiana and this is based on its share of deposits within the state. JPMorgan Chase Bank currently has a 16% share of the deposits within the state. Below is summary information on the top 5 largest banks in Indiana.

JPMorgan Chase Bank

JPMorgan Chase Bank currently has the largest share of deposits within the state and has $28.0 billion of deposits. In addition to this the bank also has 129 offices within the state, which represents 3% of its total domestic offices.

Main Office Address: 1111 Polaris Pkwy. Columbus, OH 43240

Website: www.jpmorganchase.com

PNC Bank

PNC Bank currently has the second largest share of deposits within the state and has $14.5 billion of deposits. The bank also has 100 offices within the state, which represents 5% of its total domestic offices.

Main Office Address: 222 Delaware Ave. Wilmington, DE 19899

Website: www.pnc.com

Fifth Third Bank

Fifth Third Bank currently has the third largest share of deposits within the state and has $13.0 billion of deposits. The bank also has 108 offices within the state, which represents 10% of its total domestic offices.

Main Office Address: 38 Fountain Sq. Plaza Cincinnati, OH 45263

Website: https://www.53.com

First Merchants Bank

First Merchants Bank currently has the fourth largest share of deposits within the state and has $9.7 billion of deposits. Further, the bank also has 79 offices within the state, which represents 71% of its total domestic offices.

Main Office Address: 200 E Jackson St Muncie, IN 47305

Website: http://www.firstmerchants.com

Old National Bank

Old National Bank currently has the fifth largest share of deposits within the state and has $9.4 billion of deposits. In addition, the bank also has 81 offices within the state, which represents 47% of its total domestic offices.

Main Office Address: 1 Main St. Evansville, IN 47708

Website: www.oldnational.com