MainSource Bank
| File:Mainsource Bank logo.jpg | |
| MainSource Bank | |
| Formerly | Indiana United Bancorp (1983–2002) |
| Company type | Public |
| Nasdaq: MSFG (2002–2018) | |
| Industry | Banking |
| Defunct | Template:End date and age |
| Fate | Merged with First Financial Bancorp |
| Headquarters | Greensburg, Indiana, United States |
Area served | Indiana, Illinois, Kentucky, and Ohio |
Key people | Archie Brown, Jr (president/CEO) |
| Products | Banking and Mortgages |
| Website | Last version of website prior to merger |
MainSource Bank, headquartered in Greensburg, Indiana, functioned as a community bank under the umbrella of MainSource Financial Group. It provided financial services across Indiana, Illinois, Kentucky, and Ohio. Following its acquisition by First Financial Bancorp, all MainSource branches closed on May 25, 2018. Most locations resumed operations under the First Financial name on May 29, 2018, though some were shuttered due to branch redundancies.
The United States Treasury injected $57 million into MainSource shares as part of the Troubled Asset Relief Program and completed its exit from the investment by March 2012.
History
Established in 1983 as Indiana United Bancorp by founders Robert Hoptry and Howard Sanders, the company initially acquired the troubled Union Bank and Trust Co. of Greensburg. As Indiana eased restrictions on banking geography, the firm pursued growth through strategic acquisitions under Hoptry’s leadership.
In February 2002, Indiana United Bancorp unified its various subsidiaries into one entity named MainSource Bank, consolidating prominent units such as People's Trust Co. and Union Bank. This restructuring resulted in a network of 35 branches spanning 14 counties in Indiana. Concurrently, the parent holding company rebranded to MainSource Financial Group, adopting Nasdaq ticker MSFG.
The acquisition of Madison Bank & Trust Company from National City Corporation in 2005 further expanded MainSource’s presence within Indiana.
Leadership changes occurred in 2008 when Hoptry resigned as president and CEO; Archie Brown assumed these roles and later became chairman in 2011.
Throughout the early 2010s, MainSource grew its Southern Indiana footprint by opening branches in Columbus, Seymour, Bloomington, and Indianapolis while also enhancing its commercial banking operations in Louisville.
In 2016, MainSource entered the Cincinnati area by purchasing Cheviot Savings Bank for $107 million, rebranding those locations under MainSource by mid-year.
In July 2017, a definitive merger agreement was announced between MainSource and First Financial Bancorp with an anticipated closing in early 2018. Regulatory conditions mandated selling five branches located in Greensburg and Columbus to German American Bancorp in February 2018.
The merger was completed on April 1, 2018, with all former MainSource offices adopting the First Financial identity by May 29.