By DAN MCGOWAN
Writer/Reporter, Inside Indiana Business
INDIANA — Ten banks throughout the state are being recognized for profitability, capitalization and asset quality. Bank Director magazine has released its 2016 Bank Performance Scorecard and banks headquartered in South Bend and Jasper finished highest in the state in their respective categories.
The industry publication weighed five metrics to determine rankings: core return on average equity, core return on average assets, tangible common equity to tangible asset ratio, nonperforming asset to total loan and other real estate owned ratio and net charge off to average loan ratio.
South Bend-based 1st Source Corp. placed tops in the state among mid-sized peers. Jasper-based German American Bancorp Inc. was highest in Indiana for smaller banks. The list is based off of 2015 results. Anchor Bank in Wisconsin, which has since been acquired by Evansville-based Old National Bancorp, was highest-ranked small bank.
No Indiana bank was rated in the large bank category. In the mid-sized and small categories:
$5 Billion – $10 Billion Category:
- South Bend-based 1st Source Corp., number 10
- Muncie-based First Merchants Corp., number 40
$1 Billion – $5 Billion:
- Jasper-based German American Bancorp Inc., number two
- Warsaw-based Lakeland Financial Corp., number eight
- Greensburg-based MainSource Financial Group Inc., number 49
- Terre Haute-based First Financial Corp., number 67
- Michigan City-based Horizon Bancorp, number 87
- Muncie-based MutualFirst Financial Inc., number 90
- Your Community Bankshares Inc., number 137
You can connect to the complete results by clicking here.
Source: Inside Indiana Business