BROWNSBURG, Ind. – State Bank announced today that Matt Price has assumed the role of
president and chief executive officer, effective Jan. 1, 2026. Price succeeds Mike Baker, who
retired as CEO on Dec. 31, 2025, following more than a decade of leadership.

“This leadership transition represents a pivotal moment for our organization as we focus on
disciplined, long-term growth,” State Bank Board Chair Andy Wernsman said. “We were
intentional about selecting a leader in Matt who understands the importance of investing in our
people and systems to continue building shareholder value in the long term.”

As president and CEO, Price will lead a strategy emphasizing an employee-centric culture that
prioritizes internal advancement and leadership development, further enhancing the bank’s
efforts to grow intentionally over time.

“Serving with Mike over the past year reinforced the importance of discipline, relationships, and
doing things the right way,” Price said. “As president and CEO, my focus will be on developing
our people and growing the bank in a thoughtful, sustainable manner that benefits our
customers, employees, shareholders, and communities in which we operate.

Before being named president, Price practiced law for more than 30 years, most recently at
Dentons. He advised clients on business, real estate and local government matters. He also
previously served on the State Bank Board of Directors. A lifelong Zionsville resident, he has
been active in civic and economic development efforts across central Indiana.

Under Baker’s leadership, State Bank grew from approximately $350 million in assets to $870
million, expanded into new markets, and invested in technology and services to better serve
customers.

“Mike leaves State Bank in a position of strength,” Wernsman said. “We are grateful for his
leadership and confident in Matt’s ability to lead the bank forward.”

About State Bank

State Bank is a $870 million community bank serving customers' needs in central Indiana. In
addition to operating 10 full-service locations, State Bank is a part of the AllPoint™ ATM network
of 55,000+ ATMs nationwide. Bauer Financial has named State Bank a 5-Star Bank based on
its strength and performance since 2017. Its offices are in Avon, Brownsburg, Plainfield, Lizton,
and Pittsboro in Hendricks County; Lebanon (2) and Zionsville in Boone County; Carmel in Hamilton County; and Lafayette in Tippecanoe County. Visit www.StateBank1910.bank to learn
more.