Header photo by Sarah Browning
In banking, many customers want to develop a professional partnership with their bankers – one that’s built on trust, communication and loyalty. More than a century old, State Bank was founded in Lizton, Indiana, in 1910. Through the years it has grown organically in central Indiana. Today the bank is approaching $1 billion in total assets. More than 100 employees work in 10 offices across five counties.
“We continue to emphasize the community banking model is unique and important because we are deeply invested in the markets we serve,” says Andy Pinegar, market president at State Bank in Hamilton County.
State Bank is a traditional bank in the sense that they offer an array of products that suit the needs of their communities, whether that be consumers, small businesses, real estate investors, or the municipalities that govern our lives. They have a suite of products that satisfy deposit needs, protecting those who access funds, and provide a safe and consistent return on those investable dollars.
“We’re lending those deposits back into the community by investing in small businesses and families to make our communities bigger, better and brighter than they have ever been before,” says Pinegar, who points out that the world of banking is an intangible product.
“My $20 bills aren’t any greener or less green than at any other bank,” he says. “Therefore, we have to differentiate ourselves through service and access.”
State Bank has a sophisticated banking platform that rivals industry competitors when it comes to customers accessing their funds. The bank has also placed senior management in their branch locations so the communities and customers have access to their bank leaders.
“Knowing you have access to those key decision makers sets us apart,” Pinegar says.
Mike Gilley, an entrepreneur with significant operations throughout central Indiana, appreciates how State Bank’s team understands small business.
“There’s nothing wrong with big banks, but it’s very different dealing with a local bank than with somebody in corporate offices in Manhattan,” says Gilley. “I appreciate the local decision making and the fact that they are part of the community.”
Wayne Kotulic, who works with a Hamilton County-based manufacturing and distribution company, stopped working with national banks 10 years ago. When he met Pinegar, he knew he was in good hands.
“That old cliché, ‘You’re not just an account number,’ rings so true,” says Kotulic. “That personal touch makes a big difference. I’ve been very impressed with everybody I’ve met through State Bank because they’re accommodating, they follow up and they really go the extra mile.”
For years State Bank has been a huge supporter of the Carmel Education Foundation (CEF), a 501(c)(3) nonprofit. Founded in 1966, the CEF has been supporting Carmel Clay students in academic achievement and lifelong learning for nearly six decades.
“A hallmark of our strategy is investing in and supporting our communities through educational foundations – not just in Carmel, but across our footprint – because community starts with its schools,” Pinegar says. “We can be fantastic in other things, but if our school system isn’t first-class, then our community isn’t going to achieve what it needs to. We believe Carmel is worth investing in.”
“I would argue that the public school system is second to none,” Pinegar adds. “That’s part of what allows Carmel to be world-class in other things.”
State Bank has chosen to invest in the foundation because it is the conduit for funding inspirational ideas within the school system that are outside of the schools’ control or budget.
Megan Melvin, retail manager at State Bank in Hamilton County, works closely with the CEF on their daily banking needs, and is instrumental in providing support for CEF’s various endeavors, such as the Taste of Carmel, CEF’s big annual fundraiser. The event, which takes place Friday, March 7, offers a night of delicious food and drink as well as a silent auction.
In addition, this is the third year that State Bank has sponsored the Start Me Up Cup, during which Carmel High School’s Intro to Business students present an entrepreneurial idea to a panel of five State Bank judges. Each student has 15 minutes for their live pitch before answering questions from the judges.
“We select a winner who then receives money to put towards some sort of educational purpose,” says Melvin. “It’s all about helping to develop the next generation of business leaders.”
State Bank is located at 4775 East 126th Street in Carmel. For more information, call 317-843-6990 or visit statebank1910.bank.
