First State Bank of Middlebury

Middlebury, Indiana, Elkhart County

$836M in total assets, the 1,236th largest of 4,309 US banks and 27th of 89 headquartered in Indiana.

At a glance

Compared with 59 banks headquartered in Indiana with $100 million to $1 billion in assets, as of June 30, 2026.

Measure	This bank	Percentile	Peer median
Total assets	$836M	92%	$396M
Loans	$659M	97%	$265M
Deposits	$651M	86%	$339M
Return on assets	1.38%	76%	1.02%
Net interest margin	4.25%	83%	3.72%
Efficiency ratio	57.3%	25%	65.8%
Equity to assets	11.62%	85%	9.41%
Loans to deposits	101%	95%	82%

Total assets grew 3.4% a year over the last 5 years and 5.6% a year over 10 years, without acquisitions.

6 branches in 2 counties.

County	Deposits	Market share	Rank
Elkhart County, IN	$620M	12.8%	4 of 16
St. Joseph County, IN	$32M	0.5%	11 of 15

Deposits by branch from the FDIC Summary of Deposits, June 2026. Rank among all banks with branches in that county.

Net loss of 1 branch since 2016 (7 to 6, −14.3%). 1 opened, 0 acquired, 2 closed or sold.

Period	What happened	Opened or acquired	Closed or sold	Net change	Branches at end
Start of 2016	Starting point				7
2017	Closed Mishawaka	0	1	−1	6
2021	Opened South Bend	1	0	+1	7
2022	Closed South Bend	0	1	−1	6

Type	This bank	Peers
Commercial real estate	37%	20%
1-4 family residential	32%	43%
Business (C&I)	15%	9%
Construction and land	5%	6%
Farmland	4%	9%
Multifamily	4%	3%
Agricultural	1%	5%
Consumer	1%	3%
Other	0%	1%

Type	This bank	Peers
Other interest-bearing	59%	56%
Time deposits	21%	27%
Noninterest-bearing	19%	17%

Brokered deposits are 1.7% of deposits (peers 2.1%).

Trailing four quarters, with the peer median.

Noncurrent loans exclude government-guaranteed portions.

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-state-bank-middlebury-in