Mutual Savings Bank has named a new leader for its board of directors.
Jerry D. Petro was elected as chairman of the board by the board of directors of Third Century Bancorp and Mutual Savings Bank. The bank was founded in Franklin in 1890 and has five locations in Franklin, Greenwood, Nineveh and Trafalgar.
Petro has served as a director of Mutual Savings Bank since 1997 and Third Century Bancorp since 2004. The previous chairman of the board, Robert Schafstall, who has served as member of the board for Mutual Savings Bank since 1999, will continue to serve as a member of the board of directors for both entities.
Petro is a retired entrepreneur. Prior to his retirement, he owned commercial real estate for light industrial use, bottle water distribution businesses and commercial coatings businesses.
He is a graduate of Franklin College and Indiana University.
