In December 1993, as local banks across the country were disappearing, 18 people in Indianapolis went against the trend by launching a new community bank with $14M in capital and one banking center. The team of visionaries knew their new bank would be successful because it was going to be locally-owned and operated and focused on delivering superior service to its clients, as well as supporting the Greater Indianapolis Community.
Today, The National Bank of Indianapolis stands as the largest locally owned national bank in Greater Indianapolis and one of the 350 largest banks in the nation. The bank’s Wealth Management Division, branded as Diamond Capital Management, ranks 162nd out of 1,250 wealth management divisions nationally. It has a staff of 340 people, operates 13 banking centers and has more than $2 billion in assets. Its corporate headquarters is still located in the same 100-year-old downtown building it has used since day one.
The impact of its local focus also can be seen in a variety of metrics. Its community support has grown from $0.10 million in 1993 to nearly $10M in 2018. The bank is privately owned, not publicly traded, with substantially all of its 600 shareholders residing in Central Indiana. Its share price has grown from $10 on opening day to $108.99 as of June 30, 2018. The Board of Directors is comprised entirely of local citizens. The result is a bank that focuses on what’s best for Central Indiana residents.
“We’re responsible to local shareholders and clients, not to Wall Street,” says Morrie Maurer, President and CEO. “That makes us the only truly local bank.”
As The National Bank of Indianapolis celebrates its 25th anniversary, its continuing motivation can best be summed up in Maurer’s acceptance this year of United Way’s coveted Spirit United Award.
“Indianapolis is our home,” he says. “We live here, work here, play here. Our employees are proud to volunteer, give and lead others to the call of service.”
To underscore its ongoing commitment to the community, the bank is celebrating its silver anniversary by giving a gift of $100 to each employee to donate to the nonprofit of the individual’s choice. In addition, the bank is giving every employee one day off as an extra day of service to volunteer for a local community organization of their choice. For a complete history on the Bank and its local focus, please visit nbofi.com/25thanniversary.