For the Third Year in a Row, First Merchants Bank is Named a “Newsweek Best Bank” for 2023

Wednesday, December 7, 2022

MUNCIE, Ind. – Newsweek released its 2023 America's Best Banks rankings placing First Merchants at the top of the list in Indiana and distinguishing it for having attentive service and dependable bankers. While this honor recognizes the bank’s work in Indiana, these attributes exemplify the bank’s ‘helping you prosper’ philosophy across its four-state footprint.

“In mid-November, we were recognized by the American Banker as one of the “Best Banks to Work For”, determined by surveys of our employees,” says Mark Hardwick, CEO for First Merchants Bank. “Now we are recognized as a “Best Bank” based on best-in-class financial services, like checking and savings accounts. It is humbling to receive acknowledgment for the alignment of our strategic initiatives, affirming our enhancement to the financial wellness of the diverse communities we serve.”

First Merchants was selected from more than 2,500 financial institutions and assessed by more than 30 criteria including the overall health of the bank, customer service performance and features, digital and branch presence, account and loan options, interest rate offerings, and fees. First Merchants shines in all these categories, said Mike Stewart, President of First Merchants Bank.

“First Merchants is filled with a collection of dynamic colleagues who share a passion for ’helping you prosper,’” Stewart shared. “Our attentive community bank feel and robust tools like a top-rated mobile app and our innovative personal finance tool deliver customer satisfaction, as this recognition suggests. We work hard to go above and beyond in being attentively helpful to customers, and it’s rewarding to be recognized again. This recognition shows that we are continuing to be proactively attentive to the needs of our customers and exceed their expectations.”

This recognition is the latest of many for First Merchants this year. The bank received two Comparably awards in 2022, one for “Best Leadership Team” and a second for “Best Work-Life Balance”. Additional awards include being ranked among the top 20 banks by S&P Global Market Intelligence, fourth on the list of “2022 Great Employers to Work for in Indiana” by Best Companies Group, a “2022 Best Banks to Work For” by American Banker, and a ”Best in-State Bank” in Indiana for customer satisfaction by Forbes.

Read the full Newsweek article.


About First Merchants Corporation
First Merchants Corporation (NASDAQ: FRME), with assets of more than $18 billion and operating in Indiana, Illinois, Ohio, and Michigan, is the parent company of First Merchants Bank. The Muncie, Indiana-based bank is committed to providing exceptional financial services while making meaningful contributions in each community it serves. First Merchants Bank promotes economic mobility through its five community pillars: Employee Empowerment; Community Investments and Charitable Giving; Financial Wellness; Community Home Lending; and Diversity, Equity, and Inclusion. The company has been honored for its excellence in banking by Forbes, Newsweek, and S&P Global Intelligence. The company attributes this recognition to a mission-driven team that is passionate about “helping you prosper” as its genuine approach to customer service. To see how First Merchants Bank is making a difference, go to (