It was a day of celebration as Merchants Bank and Merchants Capital officially opened the new expansion of their headquarters in Carmel. On Friday, Oct. 24, team members from both organizations, Merchants retirees, Hopper the Mascot, city representatives, community members, and more, came together to mark this important milestone in the company’s continued growth.
Located in Carmel’s Midtown Plaza, the newly opened five-story, 110,000-square-foot building represents an exciting new chapter for our company. “With this new building, we will be able to further grow our efforts in financing affordable housing across the United States, which is what we started out doing 35 years ago and is what we’re continuing to do today,” said Merchants Bank’s Chairman and Co-Founder Michael Petrie.
When the original headquarters opened in 2019, Petrie and other members of Merchants’ leadership joked about how they would ever fill the 120,000-square-foot space. With such a grand space, it felt like wishful thinking. Today, every desk is filled. The new campus, located next door and connected via a skybridge, adds capacity for more employees, giving Merchants room to continue growing while staying rooted in the Carmel community.
Petrie further reflected on this development, saying, “This campus is more than a new addition to the Carmel skyline. It is a testament to our efforts right here in Hamilton and Marion Counties, and throughout the dozen other markets where a Merchants’ office stands. This is a moment of recognition for past and present employees making a difference in the communities we serve.”
Prominent voices within the community joined in celebrating this milestone, including OneZone Chamber President Jack Russell and Carmel City Councilors Adam Aasen and Jeff Worrell. “You’ve helped strengthen the very fabric of what makes Carmel so special,” said Russell. “This expansion isn’t just a sign of your company’s success. It’s a reflection of the confidence you have in this community.”
Both the original and expansion buildings were designed by Studio M Architecture and built by Dillon Construction Group.
Merchants Bank and Merchants Capital are recognized in the community for their active roles in various local projects. This includes financing properties such as the North End Apartments, a mixed-use, mixed-income development that also provides housing for adults with intellectual and developmental disabilities, the popular Railyard at Midtown, and Portrait Midtown, which is anticipated to open in spring 2026.
To learn more about Merchants Bank and Merchants Capital, visit www.bankmerchants.com and www.merchantscapital.com or find us on Facebook, LinkedIn, Twitter, and Instagram.
