State Bank to join Brookshire Village Shoppes in spring 2021


Andy Pinegar views a new Carmel site as a great entry into Hamilton County.

State Bank, formerly State Bank of LIzton, will open its first Hamilton County branch at 126th and Gray Road in the Brookshire Village Shoppes retail center.

CIC DOUGH 1103 State Bank

“We are big fans of that center,” Pinegar said. “That is a vibrant hub for the east side of Carmel. We’re excited to see that Needler’s (Fresh Market) is coming in. We think a community bank fares very well in that center.”

The bank, the 10th for the company, is slated to open in the spring of 2021. It is the first bank outside of Hendricks and Boone counties.

“Extending into Hamilton County is a natural extension of our brand,” Pinegar said.

Pinegar, a senior commercial lender at State Bank, has been named the Carmel/Hamilton County market president.

“This is a newly created position for our bank, effectively immediately,” Pinegar said. “I’m engaging with community leaders and our existing customer base. My principal role is to build our commercial and business banking team.”

Pinegar, who will report to State Bank President/CEO Mike Baker, will be focused on establishing and growing the State Bank presence in Carmel.

“We already have a strong customer bank there, and this bank helps us put leadership in that marketplace, build upon that and engage in the community a little bit differently than we have in the past,” he said. “We have a community banking touch that is different from other regional and national banks that may already be in the marketplace.”

Pinegar, who lives in Greenwood, said he is in the process of moving to Carmel with his wife.

“Andy’s depth of experience and hands on approach make him a great fit for this market,” Baker stated. “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.”

In 2016, State Bank acquired Indiana Business Bank, where Pinegar had been a senior vice president.