1st Source, Centier top Forbes Best Banks In Each State rankings • Northwest Indiana Business Magazine
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1st Source, Centier top Forbes Best Banks In Each State rankings

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Two banks based in Northwest and North Central Indiana have earned the first and third spots on Forbes' list of Best Banks in Indiana.

South Bend-based 1st Source Bank took the No. slot, while Merrillville-based Centier Bank landed No. 3.

This is Forbes sixth annual Best Banks In Each State ranking. Forbes partners with Statista to survey about 31,000 U.S. residents to come up with the results. The list focuses on smaller, regional institutions. The results also reflect ratings posted on Google between March 2020 and April 2023. Forbes gave 164 awards to 137 banks throughout the U.S.

Andrea Short, president and chief executive officer of 1st Source Bank, said the achievement lets them know that they are fulfilling their mission to help clients realize their dreams while building wealth.

“The continued trust and advocacy from our clients is something we do not take for granted,” said Short in a press release. “There are so many banking options, and we strive every day to show our clients they have made the right choice for their financial futures by entrusting us to be their partner in that journey.”

Michael Schrage, CEO and chairman of Centier Bank, said the award proves the importance of community banks and their ability to make relationships that last.

“At a time when customer service reigns supreme, we stand as a testament to the belief that personalized care, competitive offerings and remarkable experiences are the cornerstones of our approach,” Schrage said in a press release. “Our dedication to exceeding client expectations, paired with our unyielding commitment to our clients and communities fuels our pride in being recognized once again by Forbes.”

1st Source Bank was founded in 1863 and has 1,100 employees. This is the bank's second consecutive year on the Forbes' list.

Centier Bank was founded in 1895 with more than 1,000 employees. It has been on the Forbes' list for five consecutive years.

First Farmers Bank & Trust in Converse was No. 2, while Chicago-based BMO took No. 4 and Cincinnati, Ohio-based Fifth Third Bank ranked No. 5.


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