Born in South Bend, Mr. Barnette graduated from Wabash College in 1961, and received his MBA from Indiana University in 1968. He graduated from the Stonier Graduate School of Banking at Rutgers University in 1972 and the AMA President's Course in Planning in 1981.

His career in banking started in Indianapolis at American Fletcher National Bank/Bank One in 1962. In 1969 Mr. Barnette joined The First National Bank of Evanston in Evanston, Illinois as President, CEO where he served until 1976. He then joined Lake View Trust and Savings Bank in Chicago as President, CEO from 1976 until 1981 when he returned to Indiana as Vice-Chairman of Banc One Indiana Corporation. Mr. Barnette has been with Banc One from that time and now serves as Chairman.

His community and professional involvement is extensive. The awards he has received include Sagamore of the Wabash, the Thomas W. Moses Good Scout Award for Outstanding Contributions to the Caliber of Life for Citizens in Central Indiana, Wabash College 2000 IAWM Man of the Year. From the King Walker Wilkins Young Memorial Award, he received the Whitney Young Individual Award as "Expression of Thanks" for the Contribution to the Indianapolis African-American Community and he has been inducted into "The Indiana Academy", A Recognition of achievement by all the private colleges and universities in the state.