Belser to retire from Merchants Bank of Indiana

Rick Belser, chief credit officer at Carmel, Ind.-based Merchants Bank of Indiana, is retiring at the end of this year. 

The bank’s deputy chief credit officer, Robert Burtner, is expected to succeed Belser.


Belser joined what was then Symphony Bank in 2007, prior to its acquisition and rebranding to Merchants Bank of Indiana. He spent the majority of his career at Merchants Bank and has served in executive management positions in retail banking, business banking, corporate banking and loan administration. The bank has experienced extensive growth during his career: It had approximately $11 billion in assets as of Sept. 30. 

“I am truly honored to have had the opportunity to see the exponential growth of this company over the last 14 years and work alongside these incredibly talented industry professionals,” Belser said. “It’s bittersweet to announce my retirement this year, but I am thankful for my time spent at Merchants Bank and am looking forward to the next journey ahead.”

Burtner joined Merchants Bank in 2019. Prior to serving as deputy chief credit officer, he was senior vice president, bridge and construction lending at Merchants Capital Corp. where he monitored new construction and major rehabilitation loans for the Department of Housing and Urban Development, Government-Sponsored Enterprise and Merchants Bank lending platforms. He has worked in commercial banking focusing on credit underwriting, credit management, construction monitoring and loan origination.


  “I am incredibly grateful for the opportunity to transition into this new role with Merchants Bank, and wish Rick all the best in his retirement,” Burtner said. “Our company’s commitment to both our customers and the community is unmatched, and I am eager to see this commitment strengthen as we move into the new year. I know that I have some very big shoes to fill with Rick’s retirement.”