Tuesday, August 22nd, 2017

iAB Financial Bank is introduced to community

Posted: Friday, October 12, 2012

A ribbon cutting ceremony was held Tuesday, October 9 to introduce iAB Financial Bank – the consolidation of Grabill Bank and MarkleBank. The application for interagency bank merger was approved by the Federal Deposit Insurance Corporation and the Department of Financial Institutions in August. The two bank’s individual holding companies merged in 2005, leaving the banks separately chartered, and became Independent Alliance Banks, Inc. (iAB). The banks have had consolidated administrative and operations functions since then but have maintained individual identities. Consolidation has been the plan for several years in order to make the organization more efficient, control costs and better position the company for future growth.

This new bank consolidation allows for processing of customer transactions from a wider service network including 17 branch offices, a mortgage center with 2 regional offices and a wealth management division. The combined organization is nearly $1 billion in assets with 275 employees. The new bank is governed by the existing iAB board of directors.

Management for iAB Financial Bank include Michael C. Marhenke, president and chief executive officer; Kevin J. Himmelhaver, executive vice president and chief financial officer; Gregory A. Smitley, executive vice president and chief operating officer; Paul J. Grandlienard, executive vice president and chief credit officer; Karen J. Cameron, executive vice president/corporate services; and Michael A. Rice, executive vice president/operations. Customers can expect to be served by the same people they have worked with in their local community for more than 60 years.

“Both banks have been successful in providing quality services to customers as well as being leaders in the communities we serve. The company is strategically focused on growth, and this consolidation into a single bank allows us to expand our service network, provide larger loans to our borrowers, offer increased career opportunities for our employees and have a larger base from which to support our local communities,” stated Michael C. Marhenke, president and chief executive officer.

iAB Financial Bank is the sole banking subsidiary of Independent Alliance Banks, Inc. The bank serves 30,000 customers in our local communities which include Fort Wayne, Bluffton, Grabill, Harlan, Huntington, Leo, Markle, New Haven, Ossian, Roanoke, Van Buren and Warren.

For more information contact Karen Cameron at (260) 469-6284 or karen.cameron@iabfinancial.com