State Bank Announces New Location in Carmel

Andy Pinegar

Andy Pinegar

BROWNSBURG (October 1, 2020) – State Bank, an independently owned and operated community bank, today announced the spring 2021 opening of its first and newest branch in Carmel, located at 126th Street and Gray Road. It will be the 10th branch office for State Bank and the first in Hamilton County.

“We are very proud of our history as a quality community bank and that is reinforced by more customers throughout central Indiana who are recognizing the benefits of working with our locally owned Indiana bank,” said Mike Baker, CEO of Brownsburg-based State Bank. “As we began seeing more of our customers from Hamilton County come to our bank, it was natural to expand our services to customers outside of Boone and Hendricks counties.”

The Brookshire Village Shoppes retail center was purchased in September 2019 by KennMar, an Indianapolis-based real estate investment firm. State Bank will acquire the bank location in the strip center.  Additionally, State Bank has provided acquisition and redevelopment financing in support of the revitalization of the entire retail center.  Plans are to open the new banking center in Spring, 2021.

In addition to the new branch opening, the bank will slightly modify its name to now be State Bank, which allows flexibility to grow and nurture new opportunities.

Andy Pinegar, a senior commercial lender at State Bank, has been named as the Carmel/Hamilton County Market President.  He will be focused on establishing and growing the State Bank footprint in Carmel.  “Andy’s depth of experience and hands on approach make him a great fit for this market.  He already has great customers in this area and is committed to working with family-owned and privately-held businesses as well as individuals and families who are looking to improve their banking relationship”, said Baker.

“We are a relationship bank, no doubt, and we are proud of the loyal customer relationships we have built over the years,” said Baker. “We are building on our reputation as a premier community bank and look forward to continuing to support and serve the needs of our customers wherever they work and live.

With its nearly 110-year history, the community bank was voted best bank in Hendricks County nine out of the past 10 years. In addition, State Bank has been named a 5-Star Bank by Bauer Financial based on their strength and performance. State Bank will continue to support its current and prospective customers at its nine banking centers in Boone and Hendricks counties.

State Bank offers a full line of personal and commercial banking services where decisions are made locally.  In addition to operating nine full-service locations throughout Hendricks and Boone Counties, State Bank is a part of the Allpoint ATM network of 55,000+ ATMs nationwide.  Their offices are in Avon, Brownsburg (2), Plainfield, Lizton and Pittsboro in Hendricks County and in Lebanon (2) and Zionsville in Boone County.  To learn more, you may visit any SBL location, call 866-348-4674 or find us on the web at

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