Merchants Bank appoints Stephanie Cunningham as Senior Vice President & Chief Compliance Officer

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Merchants Bank announced on Thursday, July 23, the appointment of Stephanie Cunningham as Senior Vice President, Chief Compliance Officer.

Cunningham, who will be based out of the bank’s Carmel headquarters, succeeds Carol Gassen, who has retired after a distinguished career with Merchants Bank.

In this position, Cunningham will lead the bank’s enterprise-wide compliance program, overseeing regulatory compliance and community reinvestment across the organization’s banking and mortgage sectors. She will also serve as an advisor to Merchants Bank’s CEO and Board of Directors while fostering open communication and collaboration across departments to strengthen the organization’s Compliance Management System and support effective compliance governance.

“Stephanie’s extensive experience, combined with her collaborative leadership style, makes her an outstanding fit for this role,” Merchants Bank’s President and CEO Mike Dunlap said. “She has demonstrated exceptional judgement and integrity that perfectly aligns with our mission. We’re thrilled to welcome her to the Merchants Bank team and are confident she will help strengthen our company.”

With more than 20 years of experience in the banking industry, Cunningham has fine-tuned her understanding of compliance and risk management. Prior to joining Merchants, she held multiple leadership roles at Centra Credit Union, including senior vice president of risk management, vice president of risk management, and director of compliance. Earlier in her career, Cunningham served in a variety of capacities at Ameriana Bank, where she built a strong foundation in compliance, retail banking operations, and risk management.

“I am honored to join Merchants Bank and look forward to working alongside such a talented team,” Cunningham said. “My priority lies with evolving and strengthening the compliance program, which will go on to support the bank’s long-term growth and our commitment to helping individuals, businesses, and communities thrive.”

Cunningham attended Ball State University, where she earned a bachelor’s degree with a focus in consumer finance and computer science. She is also a Certified Risk Management Professional, Certified BSA Professional, Certified Compliance Officer, and has an Enterprise Risk Management Certificate.

Learn more about Merchants Bank at bankmerchants.com.