Former President & Director, Matt Ayers, Retires from State Bank After 50 Years
Regulatory Expert, James M. Cooper, Elected to State Bank Board of Directors
For Immediate Release
(BROWNSBURG, IN) September 17, 2024 – State Bank today announced the retirement of Matt Ayers, former bank president and director.
“During his tenure at State Bank, Ayers exemplified unwavering dedication, exceptional leadership, and profound commitment to advancing the bank’s mission of
serving its customers with integrity and excellence,” said Michael L. Baker, President, and CEO of State Bank. “His guidance played a pivotal role in shaping the bank’s growth and success, earning him the respect and admiration of colleagues, customers, and shareholders alike.”
“Matt’s career covered 50 years of service to State Bank. His strategic foresight and innovative approach propelled the bank forward, navigating through challenges and seizing opportunities with resilience and agility”, Baker continued, “Under Matt’s stewardship, State Bank achieved significant milestones, solidifying the bank’s position as a trusted financial institution and a cornerstone in the communities we serve. His unwavering commitment to fostering a culture of collaboration, excellence, and customer-centricity has set a standard of excellence for the entire organization.”
Matt joined the bank in 1974 as assistant cashier and was quickly promoted to assistant vice president. In 1977, he became the first manager of the Brownsburg Branch, the banks third location. In 1983, Matt was appointed to President and CEO and served in that capacity for 26 years. Matt was at the bank’s helm throughout several periods of brand and operational reformation, new market expansions, unprecedented regulatory changes, and new technologies. During Matt’s 50 years of service, the bank expanded from two locations and $19 million in assets, to ten locations in four counties, and $850 million in assets.
“Matt Ayers has been an invaluable asset to State Bank, embodying our vision, mission and values throughout his tenure,” Baker said, “His leadership, integrity, and passion for excellence have left an indelible mark on our organization, and his presence will be deeply missed. We extend our heartfelt gratitude to Matt for his many years of dedicated service and wish him all the best in his well-deserved retirement.”
As Matt transitions into retirement, State Bank remains committed to building upon his legacy of success and proudly welcomes James M. Cooper to its Board of Directors. With a successful and accomplished career spanning over three decades in financial service regulation and banking industry advocacy, Cooper brings executive leadership and strategic insight. He will contribute deep understanding of financial services for the benefit of the bank’s shareholders.
Cooper’s journey to the State Bank boardroom is marked by a his most recent tenure at the Conference of State Bank Supervisors (CSBS) and the Indiana Department of Financial Institutions (DFI). As President and Chief Executive Officer of CSBS, Cooper led the charge in advancing the state banking regulatory agencies across the country. Additionally, Cooper greatly impacted Indiana’s commercial banking environment as Deputy Director of the DFI.
“We are thrilled to welcome Jim Cooper to our board,” said Michael Baker, President, and CEO at State Bank. “His unparalleled experience and proven track record of success make him a valuable addition to our board of directors. We look forward to benefiting from his insights and leadership as we continue to serve our communities and drive growth and innovation within the bank.”
Throughout his career, Cooper has demonstrated a deep understanding of state regulation and the intricacies of the financial landscape. His tenure at CSBS saw him navigating complex regulatory challenges and fostering key relationships with federal regulators, congressional leadership, industry associations, and consumer advocates. As Executive Vice President of Policy and Supervision and later as President and CEO, Cooper played a pivotal role in shaping the future of financial regulation on both state and national levels.
“I am honored to join the board of directors at State Bank and contribute to its ongoing success,” said Cooper. “State Bank has a long-standing commitment to excellence and community service, and I am excited to work alongside my fellow board members and the bank’s leadership team to further its mission and drive sustainable growth.”
Cooper’s addition to the State Bank board underscores the bank’s commitment to assembling diverse and experienced leadership dedicated to serving the needs of its shareholders, customers and communities. His deep knowledge of regulatory matters, strategic vision, and passion for community development will be invaluable assets as State Bank continues to expand its presence.
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