A History of The Peoples State Bank of Newton, Illinois

1875

The Peoples State Bank of Newton, the oldest financial institution in Jasper County, was organized under the Illinois state banking laws on May 01, 1875, as People’s Bank, providing much needed financial services to a growing local economy. The first directors were Bernard Faller, Simpson Johnson, Aloysius Boos, John Mason, Joseph Boos, John A. Brown, St. Clair Andrews and Anthony Litzelman. The capital stock was originally $100,000, a significant investment reflecting confidence in the future of Newton and Jasper County.

Growth and Stability 1911 - 1947

In July 1911, People’s Bank was converted to The Peoples State Bank. During this era, the bank prospered and distinguished itself as one of the few institutions to weather the challenges of the Great Depression. Following a period of substantial growth, the bank expanded its physical footprint in 1947 by purchasing and renovating an adjacent former grocery store.

Growth and Modernization 1961 - 1969

Continuing to adapt to customer needs, The Peoples State Bank added its first drive-in facility in1961, located at the rea of the main bank. In December 1968, the bank purchased property from the Jasper Columbian Home Association to accommodate further growth. In 1969, the main bank was enlarged and remolded, and a new drive-in facility was constructed on South Van Buren Street, offering more enhanced accessibility and convenience.

1970

By June 30, 1970, the bank entered a period of rapid growth, reporting total assets of $15.8 million. Directors at that time included Roy McCormack, W. P. Arndt, B. B. Brummer, J. A. Eaton, Raymond Hines, Obert Pickerill, Dr. Tom Spencer, and Howard Wolf.

Rapid Growth 1975 - 1994

From this foundation, The Peoples State Bank continued to expand steadily. Assets exceeded $35 million by its 100th anniversary in 1975, surpassed $70 million in the mid-1980s, and crossed the $100 million milestone in 1994.

Regional Expansion 2001 - 2014

In 2001, the bank purchased the First National Bank of Newton, further strengthening its service to Jasper County. Expansion beyond county borders began in 2002 with the acquisition of the First National Bank of Sumner and its St. Francisville branch.

The Peoples State Bank continued to grow with the purchase of The Peoples State Bank in Lawrenceville in 2010. That same year, a brand-new drive-in facility opened in Newton. In 2014, the addition of a Bridgeport branch brought the bank’s footprint to five branches across Jasper and Lawrence Counties. By this time, total assets had grown to approximately $370 million.

Innovation and Community Commitment

Throughout its history, The Peoples State Bank has been a reliable source of funding for the region’s agricultural, commercial, and consumer needs. In recent years, the bank has established itself as a leader in modern financial services, offering local ATMs, debit cards , telephone banking , online and mobile banking platforms and locally sourced internet connectivity through Peoples Net.

The bank also provides Insurance, Trust, and Investment services for individuals, families, and businesses, along with a full range of loan products including fixed-rate home loans, home equity loans, business, commercial, agricultural, and consumer loans.

Continued Growth and Renewal (2018-2022)

In 2017, it became clear that the main bank facility had outgrown its space. A full remodel and restoration of the second floor—previously used for storage began that fall and was completed in 2018. The renovation created new offices for Peoples Wealth Management, the Trust Department, additional bank operations and room for growth.

During this same period, The Peoples State Bank expanded further with the acquisition of branch locations in Greenville, Salem, and Vandalia, Illinois. These additions allowed the bank to invest in contiguous markets while extending its personalized community banking approach to new customers and communities. In 2019 Greenville underwent a modernization of its facilities with a much-needed interior refurbishment.

2022-2026

Many facilities have had a refresh of both exteriors and interiors. St. Francisville’s exterior received this in 2023, Bridgeport’s interior in 2024, Newton’s interior in 2025 with additional office space, expansion of the IT and Accounting departments. This in an effort to accommodate the addition of several support staff positions supporting the continued growth of loan and deposit operations. The online banking platforms were upgraded in 2025 with Bannon online and mobile banking and Banno Business offering more functionality and security for this ever-growing segment of banking. As the 150^th anniversary approached, planning began to mark this milestone, with a stockholder dinner and free public concert event. To commemorate this achievement, the Feudin Hillbillys and 1973, the Music of Journey, entertained the 1200-1500 people in attendance.

In 2026, the bank continued to invest in convenient digital solutions by adding Rapid Transfers and Tap2Local. Rapid Transfers gives customers another fast, secure way to move money, while Tap2Local supports local businesses with modern payment acceptance tools. These services reflect the bank’s continued commitment to combining trusted community banking relationships with practical technology that meets customers.

Looking Ahead: The Bank of Rantoul

In 2026, Peoples Bancorp, Inc., the parent company of The Peoples State Bank of Newton, announced a definitive agreement for Bancorp of Rantoul, Inc., the parent company of Bank of Rantoul, to merge into Peoples. Bank of Rantoul, with branches in Rantoul and Rossville, represents an important step in the bank’s continued growth and development. This partnership extends Peoples State Bank’s community banking culture into a new market while bringing together two organizations with shared values, a relationship-based approach, and a commitment to serving customers and communities.

As this next chapter unfolds, Peoples State Bank remains focused on preserving the culture and heritage that have guided the bank since 1875: local decision-making, personal service, financial strength, and a commitment to helping communities thrive.

Current directors include Paul B. Finley, Stacy J. Moore, Brett A. Lessley, Tamara S. Phillips, Edward J. Grunloh, Adam J. Wolf, Jeffrey L. Ochs, and Kenneth E. Snyder.

Today, The Peoples State Bank remains deeply committed to its community banking roots, serving the agricultural, commercial, and residential needs of Jasper, Lawrence, Fayette, Bond, and Marion Counties. Guided by over a century and a half of tradition, the bank continues to invest in the people, businesses, and communities it proudly calls home.