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Sarah has served as president and chief executive officer of INB, N.A. (formally Illinois National Bank) since January 2011. She provides leadership for the strategic direction of the Springfield-based financial institution, which delivers financial services to the central Midwest region.

Sarah began her career at First of America Bank (which had previously been the original Illinois National Bank) as a personal banker and moved into several other roles. When a group of local investors were pulling together a team to start a new bank, she was excited to be on the ground floor of a new organization. She managed the retail branches, residential mortgage, marketing and held a variety of administration positions in the early years of INB before being named president and chief executive officer. She serves on the INB Board of Directors and is Secretary of the INB Bancorp.

She serves on the board of the SIU Healthcare Board of Directors, is the Treasurer of the Springfield Sangamon Economic Development Commission and is Treasurer of the Abraham Lincoln Presidential Library Foundation. She currently serves on the Board of Directors for Brandt, Inc..

A Springfield resident, Phalen earned a master of business administration degree from the University of Illinois Springfield, as well as a bachelor of arts degree in Economics from the University of Illinois Urbana-Champaign.