MORRISTOWN, Ind. — People in Morristown in northeastern Shelby County are speaking out about their little town losing its only bank. Business owners and residents don't want to be forced to leave town for their money matters.
The Kopper Kettle Inn has served up family style meals at its location on U.S. 52 in Morristown for 93 years. The building dates back 153 years as an inn for travelers going between Indianapolis and Cincinnati.
The restaurant has struggled like many during the pandemic, but is surviving thanks in part to financial help from First Merchants Bank.
But the only bank in town is leaving.
"There's a lot of community members that are pretty upset about losing a bank, losing that convenience, losing that quality of life,” said Leigh Langkabel, owner of the Kopper Kettle Inn and vice president of the Shelby County Council. “It kind of like double hits you in a time like it is now with our pandemic going on. Things are hard as it is. This is just another hard hit on this little community."
"You're losing a lot more than a bank,” said Jason Redd, a member of the Shelby Eastern Schools board and the Morristown Chamber of Commerce. “You're losing a caring community partner, which is very upsetting. With our businesses that bank local, it's going to cause an inconvenience for them."
Businesses, schools and a large elderly population will have to leave town for their banking needs. The next closest banks are a 20-minute drive from Morristown to surrounding communities. First Merchants has branches in Greenfield, New Palestine and Shelbyville.
The Morristown branch is set to close April 20. But First Merchants Bank is not picking on this small town. This closing is part of a consolidation of 17 branches across Indiana, Illinois, Ohio and Michigan.
First Merchants responded to our interview request with a statement:
For the past several years, First Merchants has been investing in our vision for a banking delivery transformation that will serve as a catalyst for our company’s future. We are continuing to build on our commitment of meeting the evolving needs of current and prospective clients, while balancing the needs of our communities. First Merchants is embracing the increased utilization of our mobile and online banking services, along with changes in banking center interactions.
The transformation starts with implementing changes to our banking center network, which includes consolidation of 17 banking centers across Indiana, Ohio, Michigan and Illinois. On April 20, the Morristown banking center located at 488 West Main Street will consolidate with and into our Shelbyville banking center located at 2350 Marketplace Boulevard.
We welcome clients who use the First Merchants Morristown banking center to access their accounts and bankers at any of our locations, along with a deposit-capable ATM which will remain in the area. First Merchants recognizes the value of our staff, so we are retaining all banking center teammates and helping each teammate find a position at First Merchants.
We believe these changes will allow First Merchants to remain a trusted choice for our clients and communities, attract and retain high-performing teammates, and continue to serve as a reliable and strong investment for our shareholders.
Debbie Robinson visited the Morristown First Merchants branch Thursday. She’s not sure if she will remain a customer after they leave town.
"They are just a staple of the community,” Robinson said. “From what I read, I don't think they're going to change their minds. I hate that because this community, it's not only going to lose a bank, but it's going to lose great women of the community."
A petition to save the bank has around 1,200 signatures, about equal to the population of the town. Community leaders hope to attract another bank if First Merchants leaves in April.