Centier Bank earned the 11th spot nationally on American Banker's 12th annual Best Banks to Work For list in 2024.

The Merrillville-based bank also was the top-ranked bank in Indiana. Muncie-based First Merchants Bank was listed as No. 76.

“It is a true honor to be recognized by American Banker as a Best Bank to Work For, not because of the accolade, but because it is a testament to our servant heart culture,” said Michael Schrage, CEO and chairman of Centier Bank, in a press release. “Our top priority is our desire to help and serve others, which extends to our corporate values of caring, loyalty, integrity, friendship and fun.”

The 12th annual list features 90 companies from 52 to 5,200 employees. Centier Bank has been on the list all 12 years.

American Banker collaborates with Best Companies Group to determine the rankings. Two data points are used to determine the honorees: a workplace satisfaction survey of employees at banks that apply for the accolade and a review of the bank's policies and employee benefits.

“At Centier, we listen to our associates to understand their needs, and we initiate new policies based on those needs,” said Chrisanne Christ, senior partner in human resource development. “Over the years, this has included paid mental health days, access to no-cost professional development, and free, fast access to licensed health coaches and behavioral therapists.”

Centier Bank has 1,048 employees, and First Merchants Bank has 2,124 employees.

According to the American Banker, “Banks that made the list tend to prioritize engaged leaders, a strong corporate culture, job training and advancement, and a feeling of belonging within the organization.”

“By prioritizing our employees and attentively listening to their needs, we are better equipped to serve our customers and communities collectively,” says First Merchants Bank CEO Mark Hardwick, in a press release. “I am grateful to our driven and hard-working employees for their commitment to collaboration and creating a culture of belonging.”

The bank made significant strides in employee engagement since 2022 when a survey said 59% of employees did not have a plan for career development.

“Those were some eye-opening stats” that spurred the bank to take action, CEO Mark Hardwick told American Banker.

First Merchants now offers a leadership program, among other training options.

American Banker's report stated that 2023 was a particularly difficult year for banks, and 2024 posed challenges related to high interest rates and hiring and retention of employees.

Ninety percent of employees of the winning banks reported on their surveys that they want to be treated like an individual, and 86% said they received ongoing training.