Merle Kendall passed away June 29. He was 96 years old.
Kendall began his banking career as a teller at Dale State Bank in 1954. He stayed there for 12 years until he, his wife, and local businessman William Koch purchased a controlling interest in Lake State Bank, Richmond. They soon added a branch in Santa Claus to support the development of Christmas Lake Village. That branch would later become the bank’s main office, and the name was changed to Spencer County Bank, Santa Claus.
Under his leadership, the bank grew from $2 million to $132 million in assets. Kendall was described as an insightful leader, keeping his bank at the forefront of new technologies, products and services. It was the first Spencer County-based bank to offer ATMs and one of the first in all of southern Indiana to offer debit cards.
Kendall served as president of the bank until 2016 and remained as chairman of the board until February 2025. He was a member of the Indiana Bankers Association 40 Year Club and received the Association’s highest honor when he was inducted as a member of the IBA Leaders in Banking Excellence Class of 2019.
He is survived by his wife, three children, seven grandchildren, 11 great-grandchildren and one great-great-grandchild. He was preceded in death by his parents, four siblings, one half-sibling and a son-in-law.
In lieu of flowers, contributions can be made to Friends of Lincoln State Park.
