A winning team. A dedicated family.

Interested in joining our growing team? Take a look at our career opportunities.


Merchants Bank of Indiana is headquartered in Carmel, Indiana. Merchants focuses on several aspects of mortgage and agricultural lending and retail banking services from five Central Indiana locations.

Merchants Bank of Indiana has received national recognition from SNL Financial (an offering of S&P Global Intelligence) as one of the top performing community banks nationally with assets between $1 billion and $10 billion.  Merchants was listed as #25 in the nation, the highest rated Indiana bank on the list.

Merchants was also listed in the Indianapolis Business Journal (IBJ) Banking and Finance edition in May 2017 as the 12th largest Indianapolis Area Bank.  Merchants understands the positive impact of making employees feel valued and is proud to once again be recognized by the Indiana Chamber of Commerce’s Best Places to Work Program.  Achieving the #9 spot on the 2017 Best Places to Work in Indiana list, this was the second year in a row that Merchants was recognized as a Best Places to Work organization.

Adding to the performance accolades, the IBJ recently identified Merchants Bank of Indiana as one of the fastest growing companies in the Indianapolis area.  Merchants was listed as the #21 fastest growing company with 70% revenue growth from FY 2014 through 2016.  The results also reflect a 33% increase in FTEs during the same period.

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2017 and 2016 Best Places to Work in Indiana

Proudly named to the 2017 and 2016 Best Places to Work in Indiana list, Merchants Bank of Indiana strives to create a work environment that rewards hard work and strong performance while encouraging a positive work-life balance. At Merchants we believe our people make the difference in our business and our full range of top-notch employee benefits are key to building and maintaining our amazing team. Merchants Bank of Indiana is proud to be an Equal Opportunity Employer.

  • Medical
  • Dental
  • Vision
  • Disability
  • Life
  • 401K

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Current Open Positions

Commercial Banker

Posted: 11/15/2017
The Commercial Banker is responsible for proactively sourcing, acquiring and retaining customer relationships while maximizing sales opportunities. This role will spend a majority of time in the field, on sales appointments, generating leads and closing business. This position is commission eligible in addition to a strong, competitive base salary. A successful Commercial Banker will focus on growth and profitable relationships by meeting the demands of the business banking market with particular attention on bank products and services such as deposits, treasury management, loans, letters of credit, SBA lending, credit cards and other related products. Essential Duties and Responsibilities:
  • Achieve established revenue, sales production and business goals;
  • Proactively manage assigned portfolio of clients, identifying needs and maximizing opportunities;
  • Generate leads and close opportunities, including originating simple and complex loans, performing renewals and managing problem credits;
Knowledge, Skills, Abilities and Experience:
  • Requires a minimum of five years of banking experience;
  • Minimum of three years in business banking preferred.
  • Bachelor’s degree required, focus in business, accounting, finance or related field strongly preferred.
  • Requires prior credit training.
  • Requires SBA lending experience.
  • Requires outside calling skills, including demonstrated successful prospecting and contact management.
  • Requires strong working knowledge of credit structuring and processing, in addition to strong analytic skills with the demonstrated ability to manage and present complex financial information in a format that is easily understood.
The Commercial Banker position is a full-time, exempt position.  Qualified applicants may submit their resume online.  Apply Online

Bank Compliance Specialist

Posted: 11/08/2017
The Bank Compliance Specialist is responsible for administering monitoring programs under the bank’s compliance management system to ensure compliance with laws, regulations and rules governing operations and product offerings. This position will actively execute established quality control reviews and testing to measure compliance practice effectiveness in support of the broader responsibilities of the Chief Compliance Officer.   A successful Compliance Specialist will have a working knowledge of federal and state regulations affecting financial institutions and efficiently and accurately produce compliance outcomes to satisfy related regulations, including fair lending, HMDA, CRA, BSA, AML, OFAC monitoring, and BSA filings such as CTRs and SARs.   Essential Duties and Responsibilities:  
  • Provide recommendations to the Chief Compliance Officer for continual development of compliance procedures/controls.
  • Respond to inquiries from various business units regarding interpretations of applicable regulatory requirements.
  • Review and maintain compliance policies, procedures, forms, disclosures, letters and notifications.
  • Review new and/or expanded products and services and perform regulatory research as needed.
  • Gather relevant compliance data and prepare internal bank reports including the BSA Risk Assessment.
  • Conduct daily reviews of NuMonitor reports and file related CTRs and SARs as warranted by individual circumstances.
  • Review and perform account risk ratings and trend analyses.
  Knowledge, Skills, Abilities and Experience:  
  • Requires bachelor’s degree from an accredited institution.
  • Prefers a minimum of two years’ bank compliance experience; certification additionally preferred.
  • Requires basic working knowledge of deposit operations and lending activities; prefers working knowledge of related BSA/AML regulations.
  • Must demonstrate strong written and verbal communication skills with the ability to analyze information, interpret the information with proper context, and relay resulting opinion in an understandable manner.
  • Must be proficient in basic computer use including Microsoft Office and Outlook and other relevant software.
  • Must successfully demonstrate a strong attention to detail and a high standard for accuracy.
  • Must be able to effectively prioritize and work independently to meet outside demands and shifting expectations.
  • Must exhibit strong interpersonal skills with a service-oriented attitude and strong customer relations skills necessary to build productive professional relationships and cultivate a strong team environment.
  The Bank Compliance Specialist position is a full-time position.  Qualified applicants may submit their resume online.  Apply Online

Credit Analyst

Posted: 11/10/2017
The Credit Analyst position is focused in the commercial real estate finance industry through a fast-paced, deal-driven environment. The position will be assigned analysis tasks geared toward underwriting and presenting the best financing options for commercial real estate borrowers. The analyst will work closely with sales staff, borrowers and senior management to meet the financial needs of customers while diligently protecting the bank’s capital.   We are seeking two additions to our team. Our desire is one candidate with brief but relevant experience combined with relevant formal education AND the other candidate with solid commercial real estate financing experience.   This position is physically located at our Carmel, Indiana, headquarters.   Essential Duties and Responsibilities:
  • Analyze credit data, tax returns and financial statements to determine the degree of risk involved in extending credit or lending money.
  • Generate financial ratios and trend analyses using computer programs to evaluate customers’ financial status and payback ability.
  • Prepare reports including credit analyses and summaries of loan requests, and timely submit to loan committees for approval.
  • Assist the management of the loan portfolio in regard to loan covenants, reporting requirements and delinquencies.
  • Work with sales staff to manage renewal and modification requests as needed.
  • Visit with prospective and current bank clients in conjunction with sales staff both inside and outside the bank.
Knowledge, Skills, Abilities and Experience:
  • Must have professional work experience in a closely-related role for a minimum of one year; preferably a minimum of five years’ commercial real estate financing experience.
  • Requires a bachelor's degree in a related field of study from an accredited institution.
  • Candidates must demonstrate successful critical thinking skills.
  • Requires the ability to successfully multitask and perform accurate, timely work with multiple priorities and deadlines.
  • Must demonstrate strong customer service skills and/or interpersonal and communication skills.
  • Requires a demonstrated working knowledge of Microsoft Excel, Word and Outlook at a moderate to advanced level.
The Credit Analyst positions are full-time, exempt positions eligible for the annual discretionary bonus program.  Qualified applicants may submit their resume online.  Apply Online

Mortgage Servicing Specialist

Posted: 11/16/2017
The Mortgage Servicing Specialist is responsible for ensuring the timely and accurate processing of single-family mortgage servicing transactions. A successful Mortgage Servicing Specialist will focus on producing accurate, timely mortgage servicing outcomes including tracking of loan details and processing of required related transactions. This position will also establish positive customer experiences and produce a high level of customer satisfaction.   Essential Duties and Responsibilities:  
  • Manage reporting, remitting, and reconciling activities for all first mortgage portfolio and HELOCs.
  • Track all loan-related insurance requirements.
  • Provide accurate payoffs and loan verifications.
  • Monitor daily reports on all loans performing routine account maintenance.
  • Assist with tax and insurance payments on escrow accounts.
  • Verify payment of all taxes and insurance for non-escrow accounts.
  • Review and track credit disputes.
  • Manage HELOC renewals.
  • Book first mortgages and HELOCs onto servicing system.
  • Analyze data and research issues and exceptions while making or recommending appropriate changes.
  • Produce and mail late notices and monthly statements and sort and process payments.
  • Analyze potential default loans to determine next steps, minimize charge-offs and mitigate potential loss.
  • Set up ACH plans upon receipt of authorization forms.
  Knowledge, Skills, Abilities and Experience:  
  • Requires a minimum of three years’ mortgage banking experience in areas of loan servicing, or an educational background that provides a level of knowledge typically gained from three years’ or more experience.
  • Requires at least a high school diploma or GED from an accredited institution.
  • Previous mortgage loan servicing experiences strongly preferred.
  • Strong organizational skills required with the ability to prioritize work to meet deadlines.
  • Must demonstrate excellent verbal and written customer service skills.
  • Requires proficient knowledge of MS Word, Excel and Outlook.
  The Mortgage Servicing Specialist position is a full-time, non-exempt position. Qualified applicants may submit their resume online.  Apply Online    

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