Indiana bank shutters two of 11 offices

State Bank of Lizton, Ind., announced the closing of two of its 11 banking office in the state, effective in November.

The $500 million bank will close its Dover office and its grocery store location in Jamestown. The decision came after looking to the bank’s future, and evaluating its strategy and resource allocation, said Mike Baker, president and CEO.

The employees from the shuttered branches will be retained, and customers will continue to be served by other State Bank of Lizton locations in Boone and Hendricks counties, which are only a few miles from the shuttered offices, Baker said.

“This repositioning of our footprint paves the way for us to make new commitments in Boone and Hendricks counties that will expand our presence and provide additional growth opportunities for our customers and the bank,” Baker said.

Having served in the area for many years, the decision to close the branch locations was difficult, said Diane Stennett, senior vice president of the bank’s retail banking. “However, this will allow the bank to look forward and allocate resources in other highers growth markets where we need further expansion to better serve our growing customer base,” Stennett said.

“We will continue to support the local events and organizations as we have done in the past,” said Stennett, “and the bank remains committed to serving all of Boone and Hendricks counties.”

The bank has received continued quarterly praise from Bauer Financial since 2017, and plans to “continue to be the strongest, locally-owned bank in our market areas,” Baker said.