Freedom Bank President Eric Olinger Retires, Moves to Advisory Role

Freedom Bank announced on December 30, 2025 that Eric Olinger, the bank’s president and a co-founder, will retire from his day-to-day executive role and move into an advisory position. The bank thanked Olinger for his years of service and credited him with taking Freedom Bank from an idea to an operating institution, marking the end of an active leadership era and the start of a planned transition.

For customers and local businesses, the development matters because leadership changes at community banks can influence lending priorities, local sponsorships, and the continuity of customer service. Olinger’s move to an advisory role suggests the bank plans to retain his institutional knowledge during the transition, which can help preserve relationships with business borrowers, mortgage customers, and local nonprofit partners while new operational leadership takes the reins.

Community banks like Freedom Bank play an outsized role in Dubois County’s economy by supplying credit to small businesses and homeowners that larger regional banks may deem less profitable. A stable succession process is therefore important to minimize disruptions to loan approvals and deposit services. While the announcement did not outline a successor for the presidency or a timetable for any additional leadership changes, the advisory designation typically means that Olinger will remain available to consult on strategy and help onboard new executives.

From a risk and policy perspective, a routine transition at a locally headquartered bank is usually less likely to unsettle depositors than abrupt departures or regulatory action. Deposits at federally insured banks are protected up to $250,000 per depositor, per insured bank, for each account ownership category, a point local customers may consider when evaluating account safety during leadership shifts. Regulators and the bank’s board will watch for how any new leadership maintains underwriting standards, community lending commitments, and compliance with banking rules.

Residents, business owners, and municipal officials with existing relationships at Freedom Bank should expect follow-up communications from the bank about operational leadership and any changes to services. Maintaining dialogue with loan officers and branch managers will help customers assess whether the bank’s credit and community programs will change under the next executive leadership. The move closes one chapter for a locally founded institution while positioning its founder to continue influencing strategy behind the scenes.