Finding the Best Banks in Indiana

As we dive in today and find you the best banks in Indiana, it’s no secret that today’s bank is significantly different that the one your parents had, even if you’ve been banking within the same branch. Technological advances, as well as the ability for more and more people to grow their wealth, has lead the way to comprehensive services which truly give new meaning to the term banking.

Whether you are looking for banks in Fort Wayne or Evansville or even banks in Indianapolis, your search isn’t made any easier because of your location. Choices are still numerous and, as always, not every bank in Indiana is going to be what it seems.

Best Banks in IndianaAward Emblem: Best Banks in Indiana

However, you don’t have to take each Indiana bank for its word just yet; you can trust our detailed review instead. To gather the most pertinent and trustworthy information available, we’ve applied a stringent selection methodology to all of our selections for best Indiana banks, and we used this methodology to help us narrow down a long list of providers to a select few banks which, in the end, leave the rest in the dust.

AdvisoryHQ’s List of the Best Banks in Indiana

List is sorted alphabetically (click any of the names above to go directly to the detailed review section for that bank)

Top Banks in Indianapolis, Fort Wayne, and Evansville, Indiana
(List is sorted alphabetically)

1st Source BankNorthern & Central Areas
BMO Harris BankNorthern & Central Areas
Fifth Third BankVarious Areas
First Financial BankSouthern Area
First Merchants BankCentral Area
KeyBankNorthern & Central Areas
Huntington Bancshares, Inc.Central Area
MainSource BankCentral Area
Old National BankCentral Area
PNC BankCentral Area
Regions BankVarious Areas

Methodology for Selecting the Best Banks in Indiana

What methodology did we use in selecting this list of best banks in Indiana?

Using publicly available sources, AdvisoryHQ identified a wide range of banks in Indiana that provide services in Indianapolis, Fort Wayne, and Evansville.

We then applied AdvisoryHQ’s “Breakthrough Selection Methodology” to identify the final list of the best banks in Indiana.

Click here for a detailed review of our methodology: Methodology for Selecting Top Banks & Credit Unions

Detailed Review – Top Ranking Banks in Indiana

Here, you will find detailed reviews of each Indiana bank that has been selected to be on our list of the best banks in Indiana. We have highlighted some of the factors that allowed these banks to score so high in our selection ranking.

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 1st Source Bank Review

Lead by a personal mission of straight talk and sound advice, 1st Source Bank has stood the test of time for over 150 years and remains as one of Indiana’s most trusted ways to bank.

Both personal and business banking services lead the way to 1st Source’s accumulation of over $5.25 billion in assets within 80 banking centers throughout Northern Indiana and southwestern Michigan.

Best banks in IndianaImage source: Pixabay

Key Factors That Enabled This Firm to Rank as a Top Banking Firm

The following is a listing of key factors that allowed 1st Source Bank to rank as one of the top 11 banks in and around Indianapolis, Fort Wayne, and Evansville, Indiana.

The Personal Advantage:

Clients of 1st Source have a lot to take advantage of in order to make their dreams a financial reality. The foundation starts with exceptional customer service that always puts you first, no matter what. The team at 1st Source states that it views personal banking as a partnership, and this seems to be evident in all the services it offers. As you make the important decision of where to bank, knowing you have an experienced team that is focused on your success should be a comfort.

Personal Checking Options:

1st Source has several convenient checking options available for your personal needs. All account options come with free online banking, mobile banking, and more. Below, we’ve highlighted these options for your consideration along with their major features:

  • Easy Banking Club: A great checking option for those planning to utilize direct deposits. Open an account with just $25 and watch your balance grow interest over time.
  • Portfolio Checking: The perfect account to grow your portfolio. Tiered money market rates apply to daily balances, and MAX Bill Pay allows you up to 50 bill pay transactions per month.
  • 1st Checking: A basic account for those who don’t require all the extras. Make $500 in monthly deposits to avoid account and check writing fees. A $25 deposit is all it takes to get started.
  • E-Student Checking: Designed for young adults ages 16–24, this account features no monthly maintenance fee, a discount rate for your first car loan, and other exciting freebies throughout the year.

Comprehensive Lending Services:

1st Source offers a wide range of loans that can help you get the things you want and need. Loans are, of course, subject to credit approval and start at just $1,000 ($5,000 for home equity lines or loans) and include:

  • Auto loans
  • Home equity loans and lines of credit
  • Personal loans
  • Home improvement loans
  • First-time homebuyers
  • Mortgages
  • Credit starter loans
  • Credit cards

Take Your Investments Further:

Expert investment advice from industry-experienced advisors can be found right where you already do business. 1st Source Corporation Investment Advisors, Inc. can manage separate accounts for both institutions and individuals with highly intuitive portfolio management services.

Strategic partnerships with Wasatch Mutual Funds further serve to strengthen your long-term investments and yield true results that mitigate market volatility as much as possible.

However, it is important to note that certain investments, insurance, annuities, and mutual funds obtained through 1st Source are NOT FDIC-insured.

The Business Side of Things:

1st Source Business Banking services are expertly designed to grow and guide your business in ways you previously thought impossible. This usually entails taking into account your past, present, and future goals and shaping services around YOU. Here’s what you can expect:

  • Business checking services
  • Treasury services
  • Loans and leasing
  • SBA loans
  • Specialty equipment financing
  • Industry solutions
  • Insurance
  • Business 401(k) plans
  • Portfolio management

 First Merchants Bank Review

First Merchants Bank, a division of First Merchants Corporation, was founded over a century ago in 1893 and has since grown to become one of Central Indiana’s largest financial services holding companies. It prides itself on local leadership, community involvement, and giving good advice in order to create lasting relationships. Services include personal and business banking, lending, cash management, and wealth management services.

Key Factors That Enabled This Firm to Rank as a Top Banking Firm

Below, please take a look at the key factors that enabled First Merchants Bank to rank as one of the top 11 banks in and around Indianapolis, Fort Wayne, and Evansville, Indiana.

True Community Banking:

With a rich background in serving the community, First Merchants offers competitive rates and products that are shaped to fit the needs of a variety of clients. When it comes to checking options, there’s quite a few to choose from. However, no matter which way you go, all accounts offer:

  • $100 minimum deposit to open an account
  • Free online banking.
  • Free mobile and text banking
  • Free gold standard rewards
  • Free debit card
  • Free phone banking
  • Free online bill pay
  • Free ATM access

Let’s explore what your checking options are:

  • First eChecking: A great option for those on the go who prefer online and digital banking to in-branch services
  • First Choice Checking: A basic starter account that gives you everything you need – without the unnecessary frills
  • First Value Checking: Get access to nice extras, like FREE checks and discounts on personal loans, while maintaining the simplicity of your account with no minimum balance
  • First Preferred Checking: Let your money earn interest and take advantage of best-in-class features
  • First Senior Checking: The perfect option for seniors age 62 or older
  • First Student Checking: A flexible account to help students up to age 25 get started on the right foot

Mortgages Designed for You:

Whether you are buying your first home or your third, First Merchants has a comprehensive mortgage solution for you. The online mortgage center allows you to view current rates, apply online, and get pre-approved in minutes. Financing options are available for:

  • Pre-approvals
  • USDA rural housing
  • Fixed or adjustable-rate mortgages
  • Jumbo mortgages
  • First-time home buyers
  • Home equity lines of credit or loans
  • Veterans administration mortgages (VA)
  • Construction loans
  • Federal housing administration insured mortgages (FHA)
  • IHCDA Indiana housing
  • Refinancing

Wealth Management Services:

First Merchants is more than just a bank. It offers powerful wealth management solutions that create value to last you a lifetime. Wealth management services are available to individuals, families, and organizations of all kinds. First Merchant employs a large staff of more than 60 professional attorneys, CFAs (Chartered Financial Analysts), CFPs (Certified Financial Planners), and more, who manage over $1.8 billion in client assets.

With customized solutions for every goal, wealth management services from First Merchants include:

  • Investment management
  • Custody/guardianships
  • Estate planning
  • Financial planning
  • Profit-sharing plans
  • Cash balance plans
  • Trust administration
  • 401(k) plans and 403(b) plans
  • SEP/simple IRAs
  • Tailored lending and deposits
  • Estate administration
  • Pension plans
  • Private banking
  • Retirement planning
  • Brokerage services

Redefining the Logic of Business:

With over a century of creating partnerships with businesses in the community, First Merchants has garnered vast financial resources to help your business thrive in today’s market. Expert personalized service is coupled with powerful solutions from A to Z, and they include:

  • Business checking
  • Investment sweep services
  • Investments
  • New online banking
  • Mobile services
  • Business savings
  • Business lending
  • Employee benefits

   MainSource Bank Review

As an entity with 110 years of service behind it, MainSource Bank believes that personal service truly matters in all it does. Due to this, MainSource works hard to build strong community relationships and offers people a chance to live a better life through holistic commercial and consumer banking services.

Indiana MainSource Bank ReviewImage Source: Pixabay

However, it doesn’t just stop there – MainSource Bank also offers a variety of insurance, trust, title, and brokerage services that truly encompass most (if not all) of your financial needs.

Key Factors That Enabled This Firm to Rank as a Top Banking Firm

The following is a listing of key factors that allowed MainSource Bank to rank as one of the top 11 banks in and around Indianapolis, Fort Wayne, and Evansville, Indiana.

Personal Checking Services:

MainSource says that checking should be simple – downright simple. For this reason, it offers a variety of checking options that give you the features you need, none of the ones you don’t, and maintains a simplified approach for a worry-free experience. Checking options include:

  • Wow Checking: An exclusive account that offers discounts and other benefits when you use your card
  • Student Wow Checking: A chance for students (up to age 23) to get the benefits of a Wow Checking account
  • Simple Checking: Just the basics, for those whose needs don’t require all the extras
  • Premium Checking: An interest-bearing option which features lots of freebies, like online and mobile banking, bill pay, and ATM access
  • Worry Free Checking: An account designed to eliminate overdraft worries by declining all non-sufficient fund transactions
  • Fresh Start Checking: Rebuild your credit with a second chance at banking

Borrowing Options to Fit Your Needs:

MainSource offers personal and business loans that help your dreams become a reality. Take advantage of convenient terms and flexible lending options which will help you secure your future today. Loan options include:

  • Personal loans
  • Mortgages
  • Home equity loans
  • Credit cards
  • Commercial loans
  • Term loans
  • Real estate term loans
  • Construction loans
  • Letters of credit
  • Commercial liens
  • AG lending
  • SBA lending
  • Auto loans

The Best Way to Save:

A savings account can give you exactly the security you need for a brighter tomorrow, no matter what your goals are. Additionally, MainSource offers other options that help you save today for a great return in the future. Let’s take a look:

  • Student Savings: An account for students 13–23 with no service fees and no minimum balance
  • Sunny’s Super Savings: A great way for kids 12 and under to start learning financial responsibility
  • Dream Maker Savings: Earn interest and avoid the temptation to make withdrawals with a 4-withdrawals-per-year limit

Additional Savings Options:

  • CDs
  • Money markets
  • IRAs
  • HSAs

Plan Ahead for Your Future:

In today’s ever-changing world, it’s more important than ever to have a trusted advisor who can help you plan for both the expected and the unknown. The professional team at MainSource can be that guide every step of the way. The following is a list of financial services outside of traditional banking that consumers can take advantage of for both private and business needs:

  • Trust services
  • Investment services
  • Financial planning
  • Retirement planning
  • Asset planning
  • Health savings accounts
  • Wealth management

   Old National Bank Review

If you are looking for a bank which touts strength, integrity, and exceptional service, Old National Bank may be just what you’re looking for. It is a community bank dating all the way back to 1834, where it was among the first to provide financial services to a variety of clients. Today, although it has expanded greatly, Old National Bank remains a humble institution offering personal and business banking services, with small town service in mind.

Key Factors That Enabled This Firm to Rank as a Top Banking Firm

Next is a listing of major factors that enabled Old National Bank to rank as one of the top 11 banks in and around Indianapolis, Fort Wayne, and Evansville, Indiana.

The HAS Authority:

In 2004, Old National was one of the first banks to offer Health Savings Accounts as part of the Medicare Prescription Drug, Improvement, and Modernization Act. Today, with experience and flexibility, Old National stands as a leading HAS provider and serves clients in all 50 states. Turnkey solutions are implemented regularly and serve groups, individuals, and employers alike.

Checking Account Options:

As a client, you have more than just one option for checking accounts. After all, not everyone has the same needs, so why should they all receive the same services? A convenient structure allows Old National to cater to a variety of client needs through the following types of accounts:

  • ONB Everyday Checking: The basic option for basic, everyday needs
  • ONB Advantage Checking: A comprehensive account which offers added benefits, discounts, and protection
  • ONB Preferred Checking: A tiered account option for interest-earning goals
  • ONB Student Checking: A student option designed specifically to meet young people’s checking needs
  • ONB Classic Checking: A specially designed account for those 50+
  • ONB Ultimate Advantage Checking: Enjoy ONB Advantage Checking benefits at a discounted rate
  • ONB EZ Access Account: Keep the benefits while skipping the overdraft fees

Invest in Your Future:

Old National offers investment, wealth management, and retirement planning solutions to families, individuals, and organizations that need help paving a clear path for the future. Planning options include:

  • Investment planning
  • Wealth management
  • Estate and trust planning
  • Private banking
  • Retirement planning
  • Financial planning
  • Insurance
  • Brokerage accounts
  • Treasury management

Borrowing with Confidence:

Finding the right loan solution can sometimes be a lot more difficult than it should be. Whether you are planning to buy your first house or need a personal loan for anything else, Old National has affordable rates and flexible terms to make the process as easy as possible. Loans can be taken out for:

  • Auto loans
  • Personal loans
  • Credit cards
  • Mortgage loans
  • Home equity loans
  • Quick home refinance
  • Student loans

Advantaged Insurance Services:

Recently, Old National has partnered with ONI Risk Partners as its insurance provider of choice. While the name and face has changed, clients can still expect the same level of service and exceptional benefits. When you are in the market for additional protection, here’s just some of the types of insurance offered by Old National through ONI Risk Partners:

  • Health insurance
  • Auto insurance
  • Homeowners insurance
  • Life insurance
  • Personal umbrella policies
  • Watercraft insurance
  • Renter’s and tenant’s insurance
  • Identity fraud insurance
  • Earthquake insurance
  • Flood insurance

To browse exclusive reviews of all top rated banks in Indiana, please click on any of the links below.

Conclusion – Top 11 Banks in Indiana

Top Banks in Indiana Image source: Pixabay

Now that you’ve had the opportunity to learn about how each of the banks on our list of the best banks in Indiana can best serve your needs, you still have a lot of options! So, what’s a person to do from here? Something we continually recommend is to make a brief yet subjective list of what exactly it is that you want to gain from your Indiana bank of choice.

Are you looking for straightforward checking and savings options? Do you need to get a great rate on a loan? Perhaps you need comprehensive financial services or help with your investments? Are you a business needing services to guide you?

All of these questions can help point you in the direction of an Indiana bank which has a custom-tailored approach to your needs. While there is no one bank in Indiana that will be right for everyone, you can rest assured that one of the banks on our list is right for you. Happy banking!

AdvisoryHQ (AHQ) Disclaimer:

Reasonable efforts have been made by AdvisoryHQ to present accurate information, however all info is presented without warranty. Review AdvisoryHQ’s Terms for details. Also review each firm’s site for the most updated data, rates and info.

Note: Firms and products, including the one(s) reviewed above, may be AdvisoryHQ's affiliates. Click to view AdvisoryHQ's advertiser disclosures.