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Hoosier banks included among ‘America’s Best’

(photo courtesy of First Merchants Corp.)

(Inside INdiana Business) — Two Indiana-based banks and one credit union are being recognized on Newsweek’s list of “America’s Best Banks 2022.” The publication partnered with online marketplace LendingTree to determine the list based on 50 different factors.

The Best Bank winners were split into “Best Big Banks” and “Best Small Banks” with each state having one representative on each list. The big bank winners needed to have at least one branch per 100,000 resident and at least $10 billion in assets. The small bank winners needed less than $10 billion in assets and had to be among the five banks with the most branches in the state.

Muncie-based First Merchants Bank is Indiana’s representative on the “Best Big Banks” list, while Jasper-based German American Bank was named “Best Small Bank” for Indiana.

“Receiving this designation for a second year is a reflection of our incredible team embracing our German American values of integrity, people, relationships and performance in our day-today operations and interactions,” Mark Schroeder, chief executive officer of German American Bank, said in a news release. “I am grateful to our customers who continue to appreciate our drive to provide financial solutions through technology backed by a team of people who live and work within the communities we serve.”

Credit Unions were not included in the “Best Banks” rankings, but were included for individual account winner categories. Evansville Teachers Federal Credit Union is being recognized for “Best High-Yield Checking Account.”

You can connect to the full list and methodology by clicking here.