State Bank Expands in Lapel

State Bank announced its acquisition of a new banking center in Lapel.  State Bank’s investment in Lapel includes renovation of an historic building, now used for the Town Hall, into a full-service banking center.  The new location in Lapel will meet the community’s local needs while complimenting the Bank’s strategic plan to further invest along the I-69 corridor.

“In the over 50 years I resided in Madison County, Lapel has never had a brighter future than what lies in front of it right now,” State Bank CEO Mike Baker said. “Our bank and its leaders are thrilled to partner with Lapel and its proud people to deliver locally based decisions through local bankers, committed to outstanding, personalized service with second to none digital products.”

“This is part of the Bank’s larger plan to build on the positive momentum already happening in Lapel and the surrounding area,” Matt Price, President of State Bank said. “ Our investment will go beyond bricks and mortar and include investment in local people and organizations.  We believe there is no substitute for locally based bankers, empowered to make decisions and equipped to serve customers, with an unrivaled digital platform.”

The acquisition will launch a new partnership with the Town of Lapel.  “I’d especially like to thank the Bank for their commitment and willingness to be a genuine partner to our community,” Town Council President, Brian Robertson said. “On behalf of the Town of Lapel, I want to warmly welcome State Bank.  We eagerly anticipate the opening of the new branch, further strengthening the fabric of the community.”

The new location is in the planning stages with the Bank’s design team and is expected to open in early 2026, subject to regulatory approval.