CARMEL,
Ind., May 10, 2023 /PRNewswire/
-- Merchants Bank of Indiana
(NASDAQ: MBIN) ("Merchants Bank") is proud to announce it has
received a superior rating from the nationally recognized bank
rating agency IDC Financial Publishing, Inc. Merchants Bank of
Indiana received a 300 rating, the
highest possible safety rating awarded from the agency.
Since 1985, IDC Financial Publishing, Inc. (IDC) has been rating
the safety and soundness of over 10,000 financial institutions
across the country. Each quarter, IDC evaluates financial
institutions based on the elements of "CAMEL," a unique analysis of
24 key financial ratios. Banks are then given safety ratings from 1
(the lowest) to 300 (the highest), falling into one of six
categories: Superior, Excellent, Average, Lowest Ratios and Rank of
One.
Each of the CAMEL analysis' elements are the foundation of
financial ratios that measure each institution. These ratios have a
significant impact on the quality of a financial institution.
According to the IDC, CAMEL specifically measures the
following:
- Capital risk/requirements: Credit and interest rate risk
as well as estimates risk in the asset base;
- Adequacy of capital: The levels of delinquent loans,
nonaccrual loans, restructured and foreclosed assets relative to
loan loss reserves and capital;
- Margins: The spreads between operating profit and net
operating revenues, after-tax return on earning assets less
after-tax cost of funding, and the return on equity (ROE) compared
to estimated cost of equity capital (COE);
- Earnings returns: The success of the bank's operating
and financial strategies; and
- Liquidity: The balance sheet cash flow as a percent
of Tier I capital and loans compared to stable deposits and
borrowings, plus estimated unused lines of credit at the Federal
Home Loan Bank.
Merchants Bank is no stranger to receiving high honors from IDC.
Since 2009, the bank has consistently earned superior ratings every
quarter, and for the past 12 consecutive quarters, it has been
awarded its highest rating of 300.
"At a time when faith in the American banking system is of
utmost importance, Merchants Bank of Indiana is honored that IDC has rated us
superior, a ranking we've consistently held since 2009," said
Michael F. Petrie, Merchants Bancorp
Co-Founder, Chairman and CEO. "This recognition is further proof
that Americans across the nation can confidently put their trust in
Merchants Bank of Indiana. Our
assets remain safe, stable and secure and we look forward to
continuing our service to our customers for more decades to
come."
As a whole, Merchants Bancorp has been recognized nationally as
one of the top-performing public banks in the U.S. by S&P
Global Market Intelligence. Locally, Merchants Bank of Indiana was selected as a Best Place to Work
in Indiana for seven consecutive
years, recognized as an Indianapolis Top Workplace in 2023, and
chosen as an honoree for the Indiana Bankers Association Commitment
to Community Award in 2020.
To learn more about Merchants Bank of Indiana, visit www.merchantsbankofindiana.com
or find Merchants Bank on Facebook, LinkedIn, Twitter and
Instagram.
ABOUT MERCHANTS BANK OF INDIANA
Ranked as one of the
top-performing public banks in the U.S. by S&P Global Market
Intelligence, Merchants Bank of Indiana focuses on several segments of the
banking industry, including retail and correspondent residential
mortgage banking, multifamily mortgage banking, business banking
(including small business lending), agricultural lending, mortgage
warehouse financing, and traditional community banking. Merchants
Bank of Indiana conducts business
from its six Central Indiana
banking centers and various regional production offices. Additional
information can be found at www.merchantsbankofindiana.com.
Member FDIC | Equal Housing Lender
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SOURCE Merchants Bancorp