Thanks to a strong agricultural background, Hendricks County is home to several local community banks.
While community banks tend to focus on the needs of the businesses and families in nearby communities, lending decisions are also made by people who understand the local needs of those families, businesses and farmers.
Mike Baker, president of the State Bank of Lizton, said the original bank opened in 1910 and while technology has changed, the bank still strives to put the customer first.
“The things that we’re trying to preserve and honor are the deep ties to the agricultural community,” Baker said. “We do that through the addition of new products that we have and leasing for our agriculture clients. We continue to have a strong focus on agricultural lending.”
Growth, Baker said, has been embraced by the bank in the form of robust retail strategy and development of expertise in the commercial lending area.
While the mission and values of the bank have remained the same, Baker said the greatest change the bank has faced is the competitive environment of banking.
“I think that’s a good thing because competition sharpens your skills,” Baker said.
To combat that competition, State Bank of Lizton now has 11 locations throughout Boone and Hendricks counties and it focuses on the values of community banking.
“Community banking at its core is relationship banking. We have an ability to work with our borrowers that big banks just don’t,” Baker said. “There’s local decision making that takes place within these four walls and not in some other big city.”
The State Bank of Lizton recently opened its newest location in Brownsburg, with a ribbon cutting ceremony on May 10. The new facility not only houses a full-service branch, but it’s also home for administration for the bank.
While the bank is always looking out for good opportunities, Baker said they are currently content at developing current offices so they hit their full potential.
“People are the key and we really strive to serve our clients better,” Baker said. “We’re so excited about the future that we have to serve our communities.”
Hendricks County Bank and Trust Company has been a locally owned bank since 1908, having merged with Brownsburg State Bank in 1960.
Brownsburg State Bank, founded in April 1908, purchased all the buildings in a one-block area along Main Street in Brownsburg in '63. The old buildings were demolished and a new banking building was constructed on the corner, which still houses the Hendricks County Bank corporate offices.
In 1974, Brownsburg State Bank merged with Hendricks County Bank and Trust Company of Plainfield, a bank that began operations in '60. In 1982, a one-bank holding company, Midstate Financial Corporation, was formed.
With existing locations in Brownsburg, Brownsburg Square, Danville and Plainfield, Hendricks County Bank opened its newest Avon Banking Center in 2007, the bank’s fifth location in Hendricks County.
North Salem State Bank (NSSB) is a locally owned, community bank in North Salem with six branch locations. NSSB was founded in 1923 and began expanding its market area in '89, with the opening of its first branch location in Danville.
That remained the only branch until 1995, when the bank opened its third location in the Danville Kroger. In 1996, NSSB expanded into two other areas of west central Indiana, with further expansion in 2007.
In 2010, NSSB announced the opening of a second full-service branch in Danville. The bank opened its newest branch in Lebanon in 2013 and its first deposit taking ATM in Danville in 2014.