Matthew W. Howrey is president & CEO of North Salem State Bank and its holding company, North Salem State Bancorporation, positions he has held since 2010. Prior to joining the bank in 2008 as chief financial officer, he served as a bank examiner for the Indiana Department of Financial Institutions, reaching the level of senior financial examiner.

The all-cash deal is valued at $40 million.

Reading Time: 4 minutesCommunity banks are the backbone of local economies, and the regulatory environment that governs them is undergoing significant change.

North Salem State Bank appointed Jeff Joyce, its chief financial officer, to its board of directors effective January 1, 2026.

Reading Time: 4 minutesMarket adjustments, counteroffers and off-cycle raises, while well-intentioned and driven by legitimate business needs, pose a common, source of employment litigation risk.