# EDGAR Filing Document

**Accession Number:** 0000938759
**File Stem:** 0000938759-23-000001
**Filing Date:** 2023-1
**Character Count:** 14255
**Document Hash:** 5428268beb80e15dd2dfd5f9694cde30
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000938759-23-000001.hdr.sgml**: 20230126

**ACCESSION NUMBER**: 0000938759-23-000001

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230126

**DATE AS OF CHANGE**: 20230126

**EFFECTIVENESS DATE**: 20230126

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MONARCH CAPITAL MANAGEMENT INC/
- **CENTRAL INDEX KEY:** 0000938759
- **IRS NUMBER:** 351923576
- **STATE OF INCORPORATION:** IN
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-04766
- **FILM NUMBER:** 23558626

**BUSINESS ADDRESS:**
- **STREET 1:** 127 WEST BERRY STREET STE 402
- **CITY:** FORT WAYNE
- **STATE:** IN
- **ZIP:** 46802
- **BUSINESS PHONE:** 2604222765

**MAIL ADDRESS:**
- **STREET 1:** 127 W BERRY STREET STE 402
- **CITY:** FORT WAYNE
- **STATE:** IN
- **ZIP:** 46802

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** MONARCH CAPITAL MANAGEMENT INC/<br>**Address:** 127 W BERRY STREET STE 402<br>FORT WAYNE, IN 46802

**Form 13F File Number:** 028-04766

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Vicki Bandor Braun<br>**Title:** Chief Compliance Officer<br>**Phone:** 260-422-2765

**Signature, Place, and Date of Signing:**

Vicki Bandor Braun  Fort Wayne, IN  01-26-2023<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 109

**Form 13F Information Table Value Total:** $326059129

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| 3M CO | COM | 88579Y101 |  | 4548686 | 37931 | SH |  | SOLE |  | 30763 | 0 | 7168 |
| ABBOTT LABS | COM | 002824100 |  | 6564344 | 59790 | SH |  | SOLE |  | 44688 | 0 | 15102 |
| ABBVIE INC | COM | 00287Y109 |  | 9284818 | 57452 | SH |  | SOLE |  | 43697 | 0 | 13755 |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 |  | 5276761 | 19775 | SH |  | SOLE |  | 15614 | 0 | 4161 |
| AES CORP | COM | 00130H105 |  | 1830689 | 63654 | SH |  | SOLE |  | 52814 | 0 | 10840 |
| AFLAC INC | COM | 001055102 |  | 5090187 | 70756 | SH |  | SOLE |  | 55910 | 0 | 14846 |
| AIR PRODS  CHEMS INC | COM | 009158106 |  | 2053265 | 6626 | SH |  | SOLE |  | 5771 | 0 | 855 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 1067583 | 12100 | SH |  | SOLE |  | 9940 | 0 | 2160 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 3612376 | 40712 | SH |  | SOLE |  | 34707 | 0 | 6005 |
| ALTRIA GROUP INC | COM | 02209S103 |  | 517063 | 11101 | SH |  | SOLE |  | 8931 | 0 | 2170 |
| APPLE INC | COM | 037833100 |  | 9604166 | 73918 | SH |  | SOLE |  | 60685 | 0 | 13233 |
| ARCHER DANIELS MIDLAND CO | COM | 039483102 |  | 1018193 | 10966 | SH |  | SOLE |  | 10791 | 0 | 175 |
| AT INC | COM | 00206R102 |  | 1441963 | 78325 | SH |  | SOLE |  | 64501 | 0 | 13824 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 |  | 9693270 | 40420 | SH |  | SOLE |  | 30809 | 0 | 9611 |
| BERKSHIRE HATHAWAY INC DEL | CL A | 084670108 |  | 468711 | 1 | SH |  | SOLE |  | 1 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 1838882 | 5953 | SH |  | SOLE |  | 3117 | 0 | 2836 |
| BLACK HILLS CORP | COM | 092113109 |  | 385463 | 5480 | SH |  | SOLE |  | 5480 | 0 | 0 |
| BP PLC | SPONSORED ADR | 055622104 |  | 865146 | 24768 | SH |  | SOLE |  | 21249 | 0 | 3519 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 1821702 | 25319 | SH |  | SOLE |  | 21849 | 0 | 3470 |
| CANADIAN NATL RY CO | COM | 136375102 |  | 498107 | 4190 | SH |  | SOLE |  | 2990 | 0 | 1200 |
| CARRIER GLOBAL CORPORATION | COM | 14448C104 |  | 1725271 | 41638 | SH |  | SOLE |  | 34245 | 0 | 7393 |
| CATERPILLAR INC | COM | 149123101 |  | 315501 | 1317 | SH |  | SOLE |  | 417 | 0 | 900 |
| CHECK POINT SOFTWARE TECH LT | ORD | M22465104 |  | 312498 | 2477 | SH |  | SOLE |  | 2214 | 0 | 263 |
| CHEVRON CORP NEW | COM | 166764100 |  | 2673324 | 14894 | SH |  | SOLE |  | 10560 | 0 | 4334 |
| CHUBB LIMITED | COM | H1467J104 |  | 1640933 | 7421 | SH |  | SOLE |  | 5945 | 0 | 1476 |
| CINCINNATI FINL CORP | COM | 172062101 |  | 3073890 | 29873 | SH |  | SOLE |  | 23544 | 0 | 6329 |
| CINTAS CORP | COM | 172908105 |  | 270972 | 600 | SH |  | SOLE |  | 600 | 0 | 0 |
| CISCO SYS INC | COM | 17275R102 |  | 7125324 | 149566 | SH |  | SOLE |  | 116853 | 0 | 32713 |
| COCA COLA CO | COM | 191216100 |  | 7303319 | 114814 | SH |  | SOLE |  | 90072 | 0 | 24742 |
| COLGATE PALMOLIVE CO | COM | 194162103 |  | 582967 | 7399 | SH |  | SOLE |  | 4775 | 0 | 2624 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 295326 | 2488 | SH |  | SOLE |  | 2058 | 0 | 430 |
| CONSTELLATION BRANDS INC | CL A | 21036P108 |  | 257474 | 1111 | SH |  | SOLE |  | 1111 | 0 | 0 |
| COPART INC | COM | 217204106 |  | 348047 | 5716 | SH |  | SOLE |  | 4200 | 0 | 1516 |
| CORECARD CORPORATION | COM | 45816D100 |  | 2191812 | 75658 | SH |  | SOLE |  | 64213 | 0 | 11445 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 396242 | 868 | SH |  | SOLE |  | 835 | 0 | 33 |
| CVS HEALTH CORP | COM | 126650100 |  | 214523 | 2302 | SH |  | SOLE |  | 1719 | 0 | 583 |
| DISNEY WALT CO | COM | 254687106 |  | 1955929 | 22513 | SH |  | SOLE |  | 18179 | 0 | 4334 |
| DOLLAR GEN CORP NEW | COM | 256677105 |  | 697714 | 2828 | SH |  | SOLE |  | 1892 | 0 | 936 |
| ELEVANCE HEALTH INC | COM | 036752103 |  | 857173 | 1671 | SH |  | SOLE |  | 1030 | 0 | 641 |
| EMERSON ELEC CO | COM | 291011104 |  | 6767619 | 70452 | SH |  | SOLE |  | 54619 | 0 | 15833 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 5896417 | 53458 | SH |  | SOLE |  | 40805 | 0 | 12653 |
| F5 INC | COM | 315616102 |  | 2207901 | 15385 | SH |  | SOLE |  | 12971 | 0 | 2414 |
| FIRST MERCHANTS CORP | COM | 320817109 |  | 399507 | 9718 | SH |  | SOLE |  | 9718 | 0 | 0 |
| FISERV INC | COM | 337738108 |  | 3264561 | 32300 | SH |  | SOLE |  | 25754 | 0 | 6546 |
| FLOWSERVE CORP | COM | 34354P105 |  | 1819383 | 59073 | SH |  | SOLE |  | 45823 | 0 | 13250 |
| FRANKLIN ELEC INC | COM | 353514102 |  | 9176992 | 115072 | SH |  | SOLE |  | 82538 | 0 | 32534 |
| GENERAL ELECTRIC CO | COM NEW | 369604301 |  | 1051773 | 12546 | SH |  | SOLE |  | 8867 | 0 | 3679 |
| GENUINE PARTS CO | COM | 372460105 |  | 4939509 | 28386 | SH |  | SOLE |  | 20759 | 0 | 7627 |
| GILEAD SCIENCES INC | COM | 375558103 |  | 4567275 | 53201 | SH |  | SOLE |  | 42879 | 0 | 10322 |
| GRAINGER W W INC | COM | 384802104 |  | 818244 | 1471 | SH |  | SOLE |  | 871 | 0 | 600 |
| HOME DEPOT INC | COM | 437076102 |  | 11149542 | 35299 | SH |  | SOLE |  | 24217 | 0 | 11082 |
| ILLINOIS TOOL WKS INC | COM | 452308109 |  | 436753 | 1972 | SH |  | SOLE |  | 1972 | 0 | 0 |
| INTEL CORP | COM | 458140100 |  | 2457567 | 92984 | SH |  | SOLE |  | 71201 | 0 | 21783 |
| ISHARES TR | MSCI EMG MKT ETF | 464287234 |  | 278186 | 7340 | SH |  | SOLE |  | 7110 | 0 | 230 |
| JACOBS SOLUTIONS INC | COM | 46982L108 |  | 1342503 | 11181 | SH |  | SOLE |  | 9231 | 0 | 1950 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 9752670 | 55209 | SH |  | SOLE |  | 40241 | 0 | 14968 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 4314131 | 32171 | SH |  | SOLE |  | 30498 | 0 | 1673 |
| KIMBERLY-CLARK CORP | COM | 494368103 |  | 723172 | 5288 | SH |  | SOLE |  | 3753 | 0 | 1535 |
| KROGER CO | COM | 501044101 |  | 6498917 | 145781 | SH |  | SOLE |  | 112848 | 0 | 32933 |
| LAKELAND FINL CORP | COM | 511656100 |  | 12402346 | 169965 | SH |  | SOLE |  | 142147 | 0 | 27818 |
| LILLY ELI  CO | COM | 532457108 |  | 544736 | 1489 | SH |  | SOLE |  | 500 | 0 | 989 |
| LINDE PLC | SHS | G5494J103 |  | 752171 | 2306 | SH |  | SOLE |  | 1256 | 0 | 1050 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 704438 | 1448 | SH |  | SOLE |  | 1200 | 0 | 248 |
| MCDONALDS CORP | COM | 580135101 |  | 11464609 | 43504 | SH |  | SOLE |  | 33880 | 0 | 9624 |
| MEDTRONIC PLC | SHS | G5960L103 |  | 5125422 | 65526 | SH |  | SOLE |  | 50519 | 0 | 15007 |
| MERCK  CO INC | COM | 58933Y105 |  | 14126129 | 126717 | SH |  | SOLE |  | 100991 | 0 | 25726 |
| MICROSOFT CORP | COM | 594918104 |  | 13372363 | 55760 | SH |  | SOLE |  | 42038 | 0 | 13722 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 5064154 | 60576 | SH |  | SOLE |  | 45481 | 0 | 15095 |
| NIKE INC | CL B | 654106103 |  | 468040 | 4000 | SH |  | SOLE |  | 4000 | 0 | 0 |
| NORFOLK SOUTHN CORP | COM | 655844108 |  | 746653 | 3030 | SH |  | SOLE |  | 2830 | 0 | 200 |
| NORTHERN TR CORP | COM | 665859104 |  | 723206 | 8107 | SH |  | SOLE |  | 5405 | 0 | 2702 |
| NUCOR CORP | COM | 670346105 |  | 519621 | 3927 | SH |  | SOLE |  | 2860 | 0 | 1067 |
| ONEOK INC NEW | COM | 682680103 |  | 819870 | 12479 | SH |  | SOLE |  | 9955 | 0 | 2524 |
| ORACLE CORP | COM | 68389X105 |  | 329657 | 4033 | SH |  | SOLE |  | 4033 | 0 | 0 |
| OTIS WORLDWIDE CORP | COM | 68902V107 |  | 1169560 | 14935 | SH |  | SOLE |  | 11575 | 0 | 3360 |
| PEPSICO INC | COM | 713448108 |  | 1888228 | 10396 | SH |  | SOLE |  | 8096 | 0 | 2300 |
| PFIZER INC | COM | 717081103 |  | 5538685 | 108093 | SH |  | SOLE |  | 85889 | 0 | 22204 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 1170199 | 11425 | SH |  | SOLE |  | 9950 | 0 | 1475 |
| PLEXUS CORP | COM | 729132100 |  | 663898 | 6450 | SH |  | SOLE |  | 4150 | 0 | 2300 |
| PNC FINL SVCS GROUP INC | COM | 693475105 |  | 512673 | 3246 | SH |  | SOLE |  | 1480 | 0 | 1766 |
| PPL CORP | COM | 69351T106 |  | 1612024 | 54929 | SH |  | SOLE |  | 44604 | 0 | 10325 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 7695004 | 50772 | SH |  | SOLE |  | 36257 | 0 | 14515 |
| QUANTA SVCS INC | COM | 74762E102 |  | 5242907 | 36780 | SH |  | SOLE |  | 30657 | 0 | 6123 |
| RAYTHEON TECHNOLOGIES CORP | COM | 75513E101 |  | 1659528 | 16444 | SH |  | SOLE |  | 12349 | 0 | 4095 |
| REGENERON PHARMACEUTICALS | COM | 75886F107 |  | 467526 | 648 | SH |  | SOLE |  | 648 | 0 | 0 |
| ROGERS COMMUNICATIONS INC | CL B | 775109200 |  | 1291497 | 27463 | SH |  | SOLE |  | 22711 | 0 | 4752 |
| SCOTTS MIRACLE-GRO CO | CL A | 810186106 |  | 972432 | 20013 | SH |  | SOLE |  | 17258 | 0 | 2755 |
| SHERWIN WILLIAMS CO | COM | 824348106 |  | 377592 | 1591 | SH |  | SOLE |  | 1258 | 0 | 333 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 421480 | 1097 | SH |  | SOLE |  | 355 | 0 | 742 |
| SPDR SER TR | NUVEEN BLMBRG SH | 78468R739 |  | 295175 | 6283 | SH |  | SOLE |  | 6283 | 0 | 0 |
| STEEL DYNAMICS INC | COM | 858119100 |  | 3787714 | 38686 | SH |  | SOLE |  | 32151 | 0 | 6535 |
| STRYKER CORPORATION | COM | 863667101 |  | 4901367 | 19986 | SH |  | SOLE |  | 16438 | 0 | 3548 |
| SYSCO CORP | COM | 871829107 |  | 5059920 | 66186 | SH |  | SOLE |  | 49527 | 0 | 16659 |
| TARGET CORP | COM | 87612E106 |  | 1983722 | 13310 | SH |  | SOLE |  | 12416 | 0 | 894 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 |  | 2728419 | 15695 | SH |  | SOLE |  | 12654 | 0 | 3041 |
| US BANCORP DEL | COM NEW | 902973304 |  | 4365533 | 99451 | SH |  | SOLE |  | 79425 | 0 | 20026 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 2798504 | 71793 | SH |  | SOLE |  | 56465 | 0 | 15328 |
| VANGUARD MALVERN FDS | STRM INFPROIDX | 922020805 |  | 3503250 | 75000 | SH |  | SOLE |  | 59188 | 0 | 15812 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 |  | 526304 | 12540 | SH |  | SOLE |  | 12000 | 0 | 540 |
| VERA BRADLEY INC | COM | 92335C106 |  | 83805 | 18500 | SH |  | SOLE |  | 16800 | 0 | 1700 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 462989 | 11751 | SH |  | SOLE |  | 8752 | 0 | 2999 |
| VIATRIS INC | COM | 92556V106 |  | 210056 | 18873 | SH |  | SOLE |  | 15898 | 0 | 2975 |
| VISA INC | COM CL A | 92826C839 |  | 389758 | 1876 | SH |  | SOLE |  | 1780 | 0 | 96 |
| VODAFONE GROUP PLC NEW | SPONSORED ADR | 92857W308 |  | 447068 | 41170 | SH |  | SOLE |  | 37577 | 0 | 3593 |
| WALGREENS BOOTS ALLIANCE INC | COM | 931427108 |  | 4568941 | 122295 | SH |  | SOLE |  | 97166 | 0 | 25129 |
| WALMART INC | COM | 931142103 |  | 8497010 | 59735 | SH |  | SOLE |  | 45189 | 0 | 14546 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 1022506 | 24764 | SH |  | SOLE |  | 17787 | 0 | 6977 |
| ZIMMER BIOMET HOLDINGS INC | COM | 98956P102 |  | 4668642 | 36548 | SH |  | SOLE |  | 28400 | 0 | 8148 |
| ZIMVIE INC | COM | 98888T107 |  | 329562 | 35285 | SH |  | SOLE |  | 27437 | 0 | 7848 |

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