If there was one strategy that defined the top-performing regional banks of 2021, it was their capacity not to be so regional anymore.
“We think of ourselves as a national bank,” said Michael Dunlap, president and CEO of Merchants Bank of Indiana, the subsidiary of Merchants Bancorp which finished No. 1 on the list of top-performing publicly traded banks with assets between $10 billion and $50 billion compiled by the financial services consulting firm Capital Performance Group.
Merchants has “always called ourselves a nontraditional bank,” Dunlap said in an interview. With 10 branches managing $9 billion in total deposits, the Carmel, Indiana, bank provides traditional services including small-business as well as commercial and industrial lending.
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