First Bank Midwest
Frankfort, Indiana, Clinton County
$1.5B in total assets, the 748th largest of 4,309 US banks and 16th of 89 headquartered in Indiana.
- FDIC certificate
- 28533
- Established
- 1887
- Owned by
- Richmond Mutual Bcorp Inc
- Primary regulator
- FDIC
- Website
- www.firstbankrichmond.com
At a glance
Compared with 16 banks headquartered in Indiana with $1 billion to $10 billion in assets, as of June 30, 2026.
| Measure | This bank | Percentile | Peer range, middle 90% | Peer median |
|---|---|---|---|---|
| Total assets | $1.5B | 31% | $3.4B | |
| Loans | $1.2B | 31% | $2.4B | |
| Deposits | $1.2B | 25% | $2.9B | |
| Return on assets | 0.86% | 38% | 1.40% | |
| Net interest margin | 3.19% | 12% | 3.68% | |
| Efficiency ratio | 69.1% | 75% | 55.8% | |
| Equity to assets | 8.82% | 38% | 9.81% | |
| Loans to deposits | 106% | 98% | 85% |
Growth
Total assets grew 5.5% a year over the last 5 years and 11.1% a year over 10 years, including 1 acquisition in the last 10 years.
Acquisitions
| Closed | Acquired bank | Assets at acquisition |
|---|---|---|
| Oct 2016 | Mfsb, National Association Sidney, OH | $123M |
Where they operate
14 branches in 6 counties.
Largest markets by deposits
| County | Deposits | Market share | Rank |
|---|---|---|---|
| Clinton County, IN | $562M | 44.2% | 1 of 5 |
| Wayne County, IN | $245M | 14.1% | 3 of 6 |
| Shelby County, OH | $161M | 11.1% | 3 of 10 |
| Miami County, OH | $84M | 3.6% | 8 of 14 |
| Franklin County, OH | $51M | 0.0% | 27 of 34 |
| Shelby County, IN | $49M | 2.4% | 7 of 9 |
Deposits by branch from the FDIC Summary of Deposits, June 2026. Rank among all banks with branches in that county.
Branch history since 2016
Net gain of 6 branches since 2016 (8 to 14, +75.0%). 3 opened, 4 acquired, 1 closed or sold.
| Period | What happened | Opened or acquired | Closed or sold | Net change | Branches at end |
|---|---|---|---|---|---|
| Start of 2016 | Starting point | 8 | |||
| 2016 | Acquired Mfsb, National AssociationOpened Sidney | 5 | 0 | +5 | 13 |
| 2018 | Closed Sidney | 0 | 1 | −1 | 12 |
| 2019 | Opened Piqua | 1 | 0 | +1 | 13 |
| 2025 | Opened Columbus | 1 | 0 | +1 | 14 |
Balance sheet and earnings
Loans by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Commercial real estate | 33% | 27% | |
| Multifamily | 17% | 11% | |
| 1-4 family residential | 16% | 23% | |
| Business (C&I) | 12% | 17% | |
| Construction and land | 7% | 7% | |
| Consumer | 1% | 3% | |
| Farmland | 1% | 6% | |
| Agricultural | 1% | 2% | |
| Other | 12% | 3% |
Deposits by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Time deposits | 49% | 21% | |
| Other interest-bearing | 42% | 60% | |
| Noninterest-bearing | 9% | 18% |
Brokered deposits are 22.9% of deposits (peers 3.6%).
Return on assets
Trailing four quarters, with the peer median.
Credit and capital
| This bank | Peer median | |
|---|---|---|
| Noncurrent loans | 1.78% | 0.54% |
| Net charge-offs, annualized | 0.15% | 0.04% |
| Reserves to loans | 1.39% | 1.30% |
| Leverage ratio | 10.90% | 10.25% |
Noncurrent loans exclude government-guaranteed portions.
Related banks
Similar size in Indiana
Largest competitors in Clinton County, IN
Figures as of June 30, 2026 from the bank's Call Report, FDIC structure and branch data, and the Federal Reserve. Short link: bankingstats.com/banks/first-bank-midwest-frankfort-in