State Bank renovating historic Lapel building for new branch
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Brownsburg-based State Bank has acquired a historic building in Lapel with plans to renovate it into a full-service banking center.
While details of the financial investment in the project are not known, the bank said it expects to add up to a dozen jobs when the new branch opens.
The building had been used as the Lapel Town Hall, but a spokesperson for the bank said the town has found a new location, which allowed for the acquisition.
“This is part of the Bank’s larger plan to build on the positive momentum already happening in Lapel and the surrounding area,” State Bank President Matt Price said in a news release. “Our investment will go beyond bricks and mortar and include investment in local people and organizations.”
The bank said the location is part of a strategic plan to further invest along the I-69 corridor. Lapel is located in Madison County, about 45 minutes northeast of Indianapolis.
The new location is currently in the planning stages, and the bank expects it to open in early 2026 pending regulatory approval.
State Bank currently operates 10 full-service banking centers in central Indiana and Tippecanoe County and has $826 million in assets.