State Bank announces leadership succession plan
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Central Indiana financial institution State Bank announced this week a succession plan for its leadership.
The Brownsburg-based bank said in a news release that current board director Matt Price will take the title of president. That transition will take place on April 1, 2025 at which point current president and CEO Mike Baker will become CEO and executive vice chair.
Price started with State Bank’s board of directors in 2018. He is also a partner at the law firm Dentons. In the release, board members said the fleshed out succession plan puts the bank in a solid position going forward.
“Matt [Price’s] selection is a reflection on the importance the Bank has placed on leadership succession,” said J. Kevin McGrath, a board member who led the succession planning effort. “Furthermore, the current executive talent pool will serve as a valuable asset for Matt’s future plans.”
Price’s legal career has focused on business and real estate transactions, the bank said. He is a lifelong Zionsville resident who earned his law degree from Indiana University Maurer School of Law and his bachelor’s degree from Wabash College.
Outgoing president Mike Baker has served as CEO and president since 2012. According to the release, Baker helped increase State Bank’s assets from $350 million to $826 million during his tenure. The bank also credits Baker with leading efforts in starting a commercial lending team, expanding the bank’s geographic footprint and increasing its use of technology.
State Bank has 10 full-service locations in and around central Indiana.