Farewell, Captain – John Kennedy Retires as President & CEO

John Kennedy, President & CEO of GBC Bank, retired from the Bank on April 11, 2023. We are fortunate enough that John will continue to remain on the Board of Directors as Chairman of the Board.

I had the pleasure of speaking at our annual shareholder meeting on April 11th to highlight John’s illustrious career. And as I said that night, while John is retiring as President & CEO, I know he has many great accomplishments left in his career and look forward to seeing what he does next.

John joined the bank in September 2005 as Vice President and Trust Officer in our Wealth Division. Similar to his Naval career, John steadily rose through the ranks at GBC becoming Controller and BSA Officer in 2008. In November of 2009, John was appointed Executive Vice President and joined the Board of Directors in January of 2010. John succeeded Jim Miller as President & CEO in June of 2012, becoming the 15th President of GBC Bank.

John’s leadership over the last 11 years has been unwavering. He always had a vision for the future and seemed to be a step ahead. He led a culture of empowerment and accountability. He had the foresight to re-brand us as GBC Bank, as we no longer simply serve just Greenfield but also Fortville, McCordsville, Cumberland, New Palestine, and other communities in Hancock County. Hancock County will always be home, but we also have a major footprint in Central Indiana – our reach and sharing of the GBC culture has extended further than it ever has.

John’s skill in management of the balance sheet is truly phenomenal. As Jim Miller saw the bank through the last great financial crisis, John endured one of the lowest decades of interest rates this country has seen in the last 60-70 years – he remained steady. And as GBC saw an influx of deposits come into the bank in 2020 & 2021, he recognized the unprecedented growth and historically low interest rates, and remained patient with short investments or cash – most of our peer banks did not, which has caused the banking issues in recent months throughout the country. Largely due to John’s expertise, GBC is one of the most well-positioned banks in all of Indiana in 2023.

Mr. Kennedy led us through a number of hurdles, but without a doubt the biggest would be the COVID pandemic. Under John’s leadership, there was a calmness in our building through the first few months. Our staff kept serving our customers, but we also protected our employees as much as we could, often sending groups of people home to separate staff while continuing to pay them. I still remember sitting in John’s office as he made the call to move forward with the PPP loan program – it carried a lot of risks, and a lot of unknowns. But the call was made to move forward with it because it was the right thing to do. GBC performed almost 700 PPP loans, saving a number of jobs and businesses in our communities. Mr. Kennedy has led us as a community bank even though we’ve experienced great growth and success, a legacy I will continue.

Personally, I want to say thank you to John for his mentorship through the years. In 2015, he took a chance on me while I took a chance on him – something that has been great for both of us, but I certainly wouldn’t be here today without John. Thank you, John, for the friendship we have formed over the last eight years, which I truly cherish.

Once again, and on behalf of myself, the staff, the board of directors, and the shareholders, thank you John for your dedication, focus, and loyalty to GBC over the last 11 years. You’ve set this bank up for success well into the future. Congratulations on a job well done!

Your Friend,

Michael R. Graf
President & CEO