RANKING · Q2 2026

Lowest efficiency ratio in Indiana

81 of 89 banks in Indiana that filed for the quarter ended June 30, 2026 are ranked. At least $100 million in total assets and positive revenue. Institutions with equal values share a rank. Source: FDIC quarterly financial data.

Lowest efficiency ratio in Indiana, Q2 2026
Rank	Institution	Headquarters	Efficiency ratio (noninterest expense / revenue)	Total assets
1	Grant County State Bank	Swayzee, IN	20.0%	$396 million
2	Merchants Bank of Indiana	Carmel, IN	38.8%	$21.2 billion
3	Freedom Bank	Huntingburg, IN	42.0%	$586 million
4	The Garrett State Bank	Garrett, IN	43.4%	$400 million
5	Lake City Bank	Warsaw, IN	45.3%	$7.2 billion
6	1st Source Bank	South Bend, IN	45.7%	$9.3 billion
7	First Farmers Bank & Trust Co.	Converse, IN	46.4%	$3.5 billion
8	Farmers State Bank	Lagrange, IN	46.5%	$1.3 billion
9	Centier Bank	Whiting, IN	46.5%	$10.4 billion
10	Kentland Bank	Kentland, IN	46.8%	$419 million
11	First Bank of Berne	Berne, IN	47.0%	$1.1 billion
12	Bedford Federal Savings Bank	Bedford, IN	47.4%	$303 million
13	Old National Bank	Evansville, IN	48.5%	$73.9 billion
14	German American Bank	Jasper, IN	49.1%	$8.4 billion
15	The Bippus State Bank	Huntington, IN	49.4%	$459 million
16	Bank of Wolcott	Wolcott, IN	49.6%	$280 million
17	Alliance Bank	Francesville, IN	51.6%	$455 million
18	Greenfield Banking Company	Greenfield, IN	51.8%	$930 million
19	The North Salem State Bank	North Salem, IN	53.3%	$770 million
20	American Community Bank of Indiana	Saint John, IN	53.5%	$383 million
21	Farmers and Merchants Bank	Laotto, IN	53.9%	$306 million
22	First Harrison Bank	Corydon, IN	54.1%	$1.3 billion
23	The Napoleon State Bank	Napoleon, IN	54.7%	$499 million
24	Horizon Bank	Michigan City, IN	54.8%	$6.5 billion
25	The Peoples Bank	Brownstown, IN	54.8%	$324 million
26	The National Bank of Indianapolis	Indianapolis, IN	54.8%	$3.0 billion
27	Community State Bank	Brook, IN	55.0%	$161 million
28	Centrebank	Veedersburg, IN	56.0%	$120 million
29	First Federal Savings Bank	Huntington, IN	56.3%	$554 million
30	The First National Bank of Monterey	Monterey, IN	56.9%	$431 million
31	First Merchants Bank	Muncie, IN	57.4%	$21.3 billion
32	First State Bank of Middlebury	Middlebury, IN	57.5%	$836 million
33	Demotte State Bank	Demotte, IN	57.9%	$622 million
34	Community State Bank	Avilla, IN	58.0%	$554 million
35	First Financial Bank N.A.	Terre Haute, IN	58.4%	$6.2 billion
36	Springs Valley Bank & Trust Company	French Lick, IN	58.6%	$675 million
37	First Internet Bank of Indiana	Fishers, IN	58.8%	$5.5 billion
38	Fcn Bank N.A.	Brookville, IN	59.9%	$812 million
39	Citizens State Bank of New Castle	New Castle, IN	60.5%	$909 million
40	The Riddell National Bank	Brazil, IN	62.2%	$384 million
41	Union Savings and Loan Association	Connersville, IN	62.6%	$262 million
42	First Federal Savings Bank of Angola	Angola, IN	62.7%	$137 million
43	The Peoples State Bank	Ellettsville, IN	62.9%	$507 million
44	Lnb Community Bank	Lynnville, IN	64.2%	$181 million
45	Campbell & Fetter Bank	Kendallville, IN	64.8%	$355 million
46	State Bank	Brownsburg, IN	65.3%	$916 million
47	Crossroads Bank	Wabash, IN	65.6%	$616 million
48	Community First Bank of Indiana	Kokomo, IN	66.2%	$980 million
49	The Home National Bank of Thorntown	Thorntown, IN	66.6%	$186 million
50	Hoosier Heartland State Bank	Crawfordsville, IN	67.4%	$356 million
51	Bath State Bank	Bath, IN	68.2%	$338 million
52	Star Financial Bank	Fort Wayne, IN	68.4%	$3.2 billion
53	Owen County State Bank	Spencer, IN	68.6%	$389 million
54	Fowler State Bank	Fowler, IN	68.9%	$190 million
55	The New Washington State Bank	New Washington, IN	69.3%	$798 million
56	Mutual Savings Bank	Franklin, IN	69.8%	$353 million
57	Citizens Bank	Mooresville, IN	69.9%	$691 million
58	First Bank Richmond	Richmond, IN	71.2%	$1.5 billion
59	The Farmers and Merchants Bank	Boswell, IN	71.3%	$213 million
60	The Fountain Trust Company	Covington, IN	72.5%	$845 million
61	First Federal Savings Bank	Rochester, IN	72.5%	$687 million
62	Jackson County Bank	Seymour, IN	73.0%	$1.1 billion
63	Wayne Bank and Trust Co.	Richmond, IN	74.2%	$255 million
64	First State Bank of Porter	Porter, IN	74.8%	$162 million
65	Spencer County Bank	Santa Claus, IN	75.4%	$131 million
66	Hendricks County Bank and Trust Company	Brownsburg, IN	75.5%	$247 million
67	Security Federal Savings Bank	Logansport, IN	76.3%	$464 million
68	Logansport Savings Bank	Logansport, IN	76.4%	$277 million
69	The Friendship State Bank	Friendship, IN	76.9%	$544 million
70	First Federal Savings and Loan Association of Greensburg	Greensburg, IN	78.8%	$159 million
71	Home Bank SB	Martinsville, IN	81.4%	$433 million
72	Community State Bank	Royal Center, IN	82.8%	$176 million
73	Tri-County Bank & Trust Company	Roachdale, IN	83.5%	$314 million
74	Peoples Bank	Munster, IN	84.5%	$2.0 billion
75	First National Bank	Cloverdale, IN	85.1%	$419 million
76	First Federal Savings Bank	Evansville, IN	86.8%	$576 million
77	Peoples Trust and Savings Bank	Boonville, IN	88.7%	$241 million
78	The Hometown Savings Bank	Terre Haute, IN	90.2%	$456 million
79	The Farmers Bank, Frankfort, Indiana Inc.	Frankfort, IN	99.2%	$1.1 billion
80	United Fidelity Bank FSB	Evansville, IN	106.7%	$6.5 billion
81	Farmers and Mechanics Federal Savings Bank	Bloomfield, IN	110.2%	$114 million

Rankings sort one published measure; they are not an overall judgment of any institution. Methodology · All rankings