The Indiana Bankers Association is excited to welcome two banks to its membership.
Generations Community Bank, Indianapolis, is the state’s first de novo bank in nearly 20 years and its first Minority Depository Institution bank ever. The FDIC designation is granted to banks that 1) have at least 51% minority ownership or serve a primarily minority community or 2) have at least 51% of board seats held by minority populations. GCB became the nation’s 155th active MDI.
The bank’s headquarters and first branch are located at 2110 N. Illinois St. The facility opened in March, but a ceremonial ribbon cutting was held there on April 23 with an estimated 350 in attendance, including Mayor Joe Hogsett. Learn more at MyGC.bank.
Prospect Bank, Paris, IL, joined the Association in February. Under the direction of Chairman & CEO W. Eric Volkmann, the bank offers several personal and business accounts, including checking and savings, as well as consumer loans, commercial loans, ag loans, mortgages and HELOCs.
The bank first opened its doors in 1873 as The Edgar County National Bank. As it continued growing outside of Edgar County, Illinois, leadership changed its name to Prospect Bank in August 2017. The bank crossed state lines into Indiana for the first time in June 2025 with a branch in the 2600 block of Poplar Street in Terre Haute. Learn more at BankProspect.com.
