One of Indiana’s best-known bankers is stepping down as president of Salin Bank.
Alvin “Kit” Stolen joined the Indianapolis-based bank in August 2009 with big plans to boost the family-owned institution's presence in the center of the state. The bank, with $750 million in assets, has a significant presence in south-central and northern Indiana. The major Indianapolis expansion never materialized.
“While we’ll certainly miss Kit and the leadership he provided, Salin Bank is in a prime position to continue its extraordinary momentum and growth,” said William Salin II, the bank's chairman and CEO. Salin said he will assume Stolen’s duties.
Stolen is best known as the former CEO of Indianapolis-based Union Federal Bank. He spent five years there before helping orchestrate its $321 million sale to Ohio-based Sky Financial Group in the fall of 2006. Just a few months later, another Buckeye bank, Huntington Bancshares Inc., gobbled up Sky.
Salin operates 23 branches serving Burlington, Columbus, Delphi, Edinburgh, Fishers, Flora, Fort Wayne, Galveston, Gas City, Indianapolis, Kokomo, Lafayette, Logansport, Marion, Walton and West Lafayette.