Indiana Bankers Association History 1897-2022
As of 11/18/22
The Indiana Bankers Association was founded in 1897 and is the sole association of banking institutions in Indiana, having merged with the Indiana League of Savings Institutions in 2000 and the Community Bankers Association of Indiana in 2006. As of November 2022, the IBA serves a membership of 119 banks, thrifts and trust companies operating in Indiana, which includes all 91 banks headquartered in-state, 24 banks headquartered out-of-state and four trust companies located in Indiana.
The history of banking in Indiana traces back to 1814, before the state was officially formed, when the Indiana Territorial Legislature chartered two banks. Both were short-lived. From 1824 to 1834, the state experienced “wildcat banking,” so named because the absence of banks meant that redemption of bank notes occurred where “only the wildcats roamed.”
Indiana banking resumed when the Indiana Legislature chartered a multibranch bank in 1834, and from that year forward banking has been a permanent statewide fixture. In 1891, two Indiana bankers sought to create an association to promote the welfare of the growing industry. Their effort, while initially promising, was thwarted by the Financial Panic of 1893.
The concept of a bank trade association was revived in 1897 by five banking leaders who were successful in establishing the Indiana Bankers Association. The IBA has since operated continuously throughout wars, droughts, economic downturns and two pandemics. Mirroring the longevity of the Association, 86 IBA-member banks have been in operation 100 years or longer.
IBA history is intertwined with the history of the Indiana State Police. In the 1920s, high rates of bank robberies prompted the IBA to develop a guard program that armed and trained bank employees, for whom the IBA hosted annual “shoots” at Fort Benjamin Harrison. In 1926, the IBA sponsored legislation which established the Indiana Bureau of Identification and Investigation. This bureau was enlarged in 1932 into the Department of Public Safety, leading to the creation of the Indiana State Police.
IBA history also ties in with the 1933 formation of the Indiana Department of Financial Institutions, which was assisted by a study commission led by the late Herman B Wells. Wells had joined the IBA in 1928 as a part-time field representative. He would later join the newly formed Indiana DFI as a bank supervisor before filling his legendary role as chancellor of Indiana University.
Significant bank-related legislation during IBA history includes: the Banking Structure Reform Act of 1985, which permitted Indiana banks to branch across contiguous county lines; the federal Gramm-Leach-Bliley Act of 1999, which removed barriers between investment banks and commercial banks; and the signing of HEA 1018 into Indiana law in 2013, creating a statutory fence around the Public Deposit Insurance Fund, a pool of funds that protects local taxpayers.
The IBA is governed by a 17-member Board of Directors and currently is led by President and CEO Amber R. Van Til. She is the 12th state executive in the Association’s 125-year history.
Notable Facts
As of 11/18/22
The Indiana Bankers Association, founded in 1897, supports Indiana banking through issues advocacy, professional education, and products and services that enhance financial institutions’ ability to help build better communities. The Indiana banking community employs more than 30,000 Hoosiers. FDIC call report figures as of June 30, 2022, show statewide assets of $163,582,000,000 and deposits of $135,671,000,000.
Each year, the IBA hosts more than 850 seminars, webinars, schools, conferences and forums to assist Indiana bankers with professional development. More than 4,300 banking professionals take advantage of these educational opportunities. IBA’s signature convening event is its Mega Conference, attracting more than 1,100 participants annually. Other major IBA events include the Annual Convention and Banking on Women Conference.
Recent IBA accomplishments include helping to establish two banking minors at Indiana universities –
a first in the state’s history – at Purdue University Northwest and Ball State University. The Association also has created a BankLEAD Internship Program to provide hands-on banking experience to college-level students. Additionally, the IBA is working to develop the next level of banking talent through offerings such as its Future Leadership Division and Leadership Development Program.
During the height of the 2020 pandemic, the IBA remained in close communication with member-banks to support their participation in the Paycheck Protection Program. Ultimately, the Indiana banking community provided approximately $10 billion to Hoosier small businesses during the COVID-19 shutdown.
The IBA adopted an aspiration statement in 2022: “The Indiana Bankers Association strives to grow stronger banks and stronger communities.”
A Look Back at Past Anniversary Milestones
 125 Years (click to read) |
 100 Years |
 75 Years |
 50 Years |
IBA Historical Archives
The Indiana Bankers Association: A Century of Progress and Change
1997 Centennial Anniversary Hoosier Banker Article
Hoosier Banker Heritage
In 2016 Hoosier Banker magazine, the flagship publication of the Indiana Bankers Association, celebrated 100 years of publication. In celebration, each issue in 2016 featured “Hoosier Banker Heritage,” decade-by-decade summaries of Indiana banking history. The anniversary year culminated with a special-edition issue in December, with features including member bank stories.
• 1916-19 - January 2016 HB
• 1920-29 - February 2016 HB
• 1930-39 - March 2016 HB
• 1940-49 - April 2016 HB
• 1950-59 - May 2016 HB
• 1960-69 - June 2016 HB
• 1970-79 - July 2016 HB
• 1980-89 - August 2016 HB
• 1990-99 - September 2016 HB
• 2000-09 - October 2016 HB
• 2010-16 - November 2016 HB
• Commemorative issue - December 2016 HB