Market Intelligence

Indianapolis-Carmel-Muncie, IN

Banking market profile · FDIC Summary of Deposits (SOD), June 30, 2026
Market Intelligence › Indianapolis-Carmel-Muncie, IN

Indianapolis-Carmel-Muncie, IN, a Combined Statistical Area, holds $104.7 billion in deposits across 61 insured institutions and 619 branches, and ranks #26 of 293 U.S. markets by economic output. JPMorgan Chase Bank is the largest deposit holder at 15.2% share. The top three banks hold 41% of deposits, which places the market in the Fragmented band. Deposits have grown 20.0% since 2021 while the branch count fell by 2.1%.

Economic scale
2024 Real GDP
$192.0B
#26 of 293
Population
2.72M
#28 of 293
GDP per Capita
$70,509
#32 of 293
Deposit market
Deposits (SOD, 6/30/26)
$104.7B
#33 of 293
Deposits per Capita
$38,464
#58 of 293
Deposits per Branch
$169M
#48 of 293
Competitive structure
Insured Institutions
61
#24 of 293
Branches per 100k Pop.
22.7
#169 of 293
Median Deposits per Institution
$383M
The median deposits booked by a single institution in the market. #51 of 293. A lower figure means institutions typically hold smaller deposit positions here; it reflects local deposit presence, not an institution’s overall size. See Community & Regional Bank Share for institution scale.
Community & Regional Bank Share
47.9%
of market deposits held by banks with $100M to $100B in assets. #197 of 293. A higher share points to a market where small to mid-size institutions, the kind that compete on relationships and local decision-making, hold more ground.
Top-3 Banks’ Deposit Share: Fragmented
41%
The combined deposit share of the top three banks by deposits in the market. A lower share means deposits are spread across more institutions.

Ranks show where the market stands among the 293 markets (Combined and Metropolitan Statistical Areas). They describe relative position, not a rating of market quality or suitability.

Deposit trend

Market Deposits (SOD, 2021 to 2026) +20.0% over 5 years
$87.3B
2021
$93.8B
2022
$96.7B
2023
$101.3B
2024
$101.9B
2025
$104.7B
2026

Branches: 632 in 2021 to 619 in 2026. Institutions: 57 to 61. Top-three share: 40% to 41%. Average deposits per branch: $169M.

Institutions by deposits

InstitutionDepositsShare Branches5‑yr
deposits
JPMorgan Chase Bank$15.9B15.2%61-6%
Merchants Bank of Indiana$13.6B13.0%3+96%
PNC Bank$13.6B13.0%48+22%
First Merchants Bank$7.4B7.0%35+46%
Fifth Third Bank$6.5B6.3%40-6%
The Huntington National Bank$6.0B5.8%36+20%
First Internet Bank of Indiana$4.8B4.6%1+50%
BMO Bank$4.2B4.1%35+4%
Bank of America$3.6B3.4%14+8%
KeyBank$3.1B3.0%19-1%
Old National Bank$2.9B2.8%28+25%
The National Bank of Indianapolis$2.7B2.6%130%
First Financial Bank$2.4B2.3%22+4%
Regions Bank$1.7B1.6%24-13%
First Farmers Bank & Trust Co.$1.7B1.6%15+65%
STAR Financial Bank$1.5B1.4%22+19%
Horizon Bank$851M0.8%100%
Community First Bank of Indiana$814M0.8%7+89%
Greenfield Banking Company$799M0.8%8+10%
Jackson County Bank$796M0.8%9+50%
State Bank$733M0.7%9+32%
Lake City Bank$692M0.7%9+12%
The North Salem State Bank$688M0.7%9+48%
Centier Bank$648M0.6%11+81%
Citizens Bank$623M0.6%9+10%
Citizens State Bank of New Castle, Indiana$565M0.5%7+23%
Northwest Bank$482M0.5%6-7%
United Fidelity Bank, fsb$424M0.4%1+138%
The Farmers Bank, Frankfort, Indiana$411M0.4%6+77%
Stock Yards Bank & Trust Company$392M0.4%7+82%
First National Bank$383M0.4%7-2%
Home Bank SB$371M0.4%6+17%
Hoosier Heartland State Bank$327M0.3%7+33%
The Peoples Bank$299M0.3%4+27%
German American Bank$297M0.3%6+19%
Mutual Savings Bank$284M0.3%4+40%
Tri-County Bank & Trust Company$259M0.2%5+28%
CFBank$250M0.2%1no 2021 presence
Hendricks County Bank and Trust Company$226M0.2%5+18%
The Napoleon State Bank$190M0.2%3+20%
Busey Bank$190M0.2%1+102%
The Home National Bank of Thorntown$167M0.2%2+26%
Union Savings Bank$155M0.1%3+5%
First Federal Savings and Loan Association of Greensburg$141M0.1%3-10%
The Peoples State Bank$103M0.1%4+57%
First Bank of Berne$96M0.1%1-5%
The Fountain Trust Company$86M0.1%3+29%
The New Washington State Bank$78M0.1%1-9%
First Bank Richmond$49M<0.1%1+2%
Flagstar Bank$46M<0.1%1+29%
First Financial Bank$44M<0.1%1+26%
Crossroads Bank$39M<0.1%1+117%
Security Federal Savings Bank$37M<0.1%3+28%
Union Savings and Loan Association$37M<0.1%1+15%
Woodforest National Bank$35M<0.1%15-15%
1st Source Bank$31M<0.1%1no 2021 presence
American Bank of Freedom$17M<0.1%1no 2021 presence
CIBM Bank$10M<0.1%1-74%
Generations Community Bank$6M<0.1%1no 2021 presence
Logansport Savings Bank$5M<0.1%1no 2021 presence
The Bank of New York Mellon Trust Company$0M0.0%1no 2021 presence

The 61 insured institutions with a branch presence in this market, per the FDIC Summary of Deposits, June 30, 2026. Five-year change compares the same institution’s deposits in 2021 and 2026. Institutions are tracked by FDIC certificate number, and where an institution acquired another bank, the acquired bank’s prior deposits are folded into the baseline so the change reflects the combined, continuing franchise rather than reading as new. “No 2021 presence” means neither the institution nor a bank it later absorbed reported deposits in this market that year. Deposit figures are nominal and are not adjusted for inflation.

Counties in this market

CountyStateGDP PopulationShare of Market GDP Share of Market Deposits
Marion CountyIndiana$108.7B992,19656.6%41.0%
Hamilton CountyIndiana$24.9B387,03613.0%29.1%
Hendricks CountyIndiana$7.8B193,5104.1%4.6%
Bartholomew CountyIndiana$7.1B85,7293.7%1.9%
Johnson CountyIndiana$5.9B174,2623.1%3.9%
Howard CountyIndiana$4.9B83,9042.6%1.9%
Boone CountyIndiana$4.8B80,6892.5%1.8%
Delaware CountyIndiana$4.3B113,1062.2%3.4%
Madison CountyIndiana$4.3B135,0882.2%1.8%
Hancock CountyIndiana$3.8B90,9692.0%1.6%
Jackson CountyIndiana$2.9B47,3701.5%1.2%
Morgan CountyIndiana$2.4B74,9671.2%1.4%
Shelby CountyIndiana$2.2B45,8821.1%2.0%
Montgomery CountyIndiana$1.8B38,9540.9%0.9%
Decatur CountyIndiana$1.6B26,5760.9%0.7%
Henry CountyIndiana$1.5B49,1370.8%0.8%
Putnam CountyIndiana$1.1B37,8760.6%0.8%
Miami CountyIndiana$969M34,4870.5%0.8%
Tipton CountyIndiana$592M15,3190.3%0.3%
Brown CountyIndiana$342M15,7770.2%0.2%

Recruiting in the Indianapolis-Carmel-Muncie market

No single institution dominates deposits here, which often means more competitors of a size where a well-positioned team has room to compete. Who holds the deposits, and how contested the market is, shapes both the runway for growth and the competition you would be recruiting against. We recruit commercial relationship managers, banking teams, and market leaders for banks building in markets like this one.

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Other markets in Indiana

All 293 markets and the 1,523 counties with a branch within a CSA or MSA are covered in the Market Intelligence resource. See the methodology for how each figure is built and when to expect updates, or the disclaimer for how this data should, and should not, be read.