Inside INdiana Business

Forbes ranks ‘best banks’ in Indiana

(photo courtesy of Centier Bank)

Forbes has released its second annual ranking of the “Best Banks in Each State.” The publication says the list was compiled from surveys of customers, who rated the banks on criteria such as branch services, digital services and financial advice.

Merillville-based Centier Bank tops the list for Indiana, followed by Citizens Bank in Mooresville at No 2. and Terre Haute-based First Financial Bank at No. 4. The ranking also includes Ohio-based Huntington Bank at No. 3 and Chicago-based BMO Harris Bank at No. 5. Both banks have a large presence in Indiana.

Forbes says it partnered with Germany-based market research firm Statista to produce the list to measure whose customers gave their banks the highest grades. Nearly 25,000 customers in the U.S. were surveyed for their opinions on their current and former banking relationships.

In January, Forbes released its 2020 list of “America’s Best Banks,” a separate list based on growth, profitability and asset quality metrics. Muncie-based First Merchants Bank (Nasdaq: FMRE) was ranked as No. 2 and Evansville-based Old National Bancorp (Nasdaq: ONB) ranked in at No. 58.

You can connect to the full list of rankings by clicking here.

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