MERCHANTS NATIONAL BANK ANNOUNCES UPCOMING STRATEGIC EXECUTIVE LEADERSHIP TRANSITION
May 28, 2025 – Hillsboro, OH – After nearly 45 years at the helm, Paul W. Pence, Jr. will be retiring from his role as Chief Executive Officer of Merchants National Bank (MNB), effective December 31, 2025. He will continue to serve as Chairman of the Board.
Paul began his banking career in June 1973 in Mason, Ohio, and joined Merchants National Bank as Executive Vice President and member of the Board of Directors in January 1981. When Paul first joined the Bank, assets totaled $37 M, and MNB had 2 locations in Hillsboro—the main office and a branch location on the north side of town.
Later in 1981, Paul was promoted to President and CEO, succeeding his father’s leadership. For over four and a half decades, he has led the bank through significant changes and periods of remarkable growth—including three bank acquisitions and multiple branch builds, which have resulted in the Bank’s footprint expanding to what it is today, with $1.3 Billion in assets and 17 branches reaching across ten Ohio counties. Guided by a deep commitment to the values of a REAL Community Bank, Paul’s leadership reflects the Bank’s promise to serve—with every decision rooted in service to our customers, shareholders, employees, and communities.
“The Board of Directors expresses its deep appreciation for Paul’s long-tenured leadership, recognizing the steadfast commitment and vision he has brought to Merchants National Bank throughout his tenure,” said Christopher Walker, Vice Chairman of the Board. “Paul has played an instrumental role in shaping the strength, culture, and reputation of the Bank. His decades of service have left a lasting impact on our people and strategic direction, and we are grateful for the legacy he leaves behind.”
As we look to the future, the Board of Directors is pleased to announce that Denise Fauber, currently serving as President and Chief Operating Officer, will assume the role of President and Chief Executive Officer effective December 31, 2025. This transition marks the fulfillment of a well-defined succession plan that the Board has carefully developed and implemented over the past several years to ensure strong, consistent leadership. Fauber brings deep institutional knowledge, proven strategic vision, and a track record of operational excellence that will continue to guide Merchants National Bank forward. “I have complete confidence in Denise and our Senior Management Team," said Pence. "Her experience, leadership, and commitment to our mission ensure that the bank is in strong, capable hands and well-positioned for continued stability and long-term success.”
Customers and community members are welcome to stop by the main office at their convenience to visit with Paul and extend their well wishes.
About Merchants National Bank
Established in 1879, MNB is an independent institution built upon a foundation of financial strength and customer service to be a REAL Community Bank.
MNB employees specialize in providing exceptional service on a personal level. The bank is large enough to provide financial products at competitive prices, yet small enough to know its customers.
MNB offers real estate, construction, bridge, agricultural, commercial, and installment loans, all designed to meet dynamic customer needs. MNB has 17 convenient local offices in Athens, Hillsboro, Greenfield, Washington Court House, London, Mt. Orab, Springfield, Batavia, Georgetown, Marysville, Wilmington, and Logan. Supported by ATMs at 15 locations, each office is individually and locally managed.
