A Brief History of The Peoples State Bank of Newton

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. 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.

1911 - 1947

In July 1911, People’s Bank was converted to The Peoples State Bank. The bank prospered and was one of the few that weathered the Great Depression. After a period of considerable growth, the bank purchased and expanded into the adjacent former grocery store in 1947.

1961 - 1969

In 1961, The Peoples State Bank added convenience to its list of services, with the addition of its first drive-in facility at the rear of the main bank. In December 1968, due to its increased size, the bank purchased a lot and building from Jasper Columbian Home Association. Not only was the main bank enlarged and remodeled in 1969, a new drive-in facility was also constructed on South Van Buren Street, offering more convenient and accessible services.

1970

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

1975 - 1994

From the $15.8 million level in assets, The Peoples State Bank grew over $35 million at its 100th anniversary in 1975. Growth continued to over $70 million in the mid-1980s, and the bank surpassed the $100 million mark during 1994.

2001 - 2002

The Peoples State Bank has a rich history of providing financial services to Jasper County, including the purchase of the First National Bank of Newton in 2001. In 2002, the bank expanded beyond the county’s borders with the purchase of the First National Bank of Sumner, along with a branch in St. Francisville.

2010

The Peoples State Bank in Lawrenceville was purchased in 2010 and in June of the same year, a brand new drive-in facility opened in Newton.

2014

With the addition of a Bridgeport branch in 2014, The Peoples State Bank today has 5 branches in Jasper and Lawrence Counties. Growth through increased deposits and loans, as well as the addition of multiple branches, brings the bank’s most recent reported assets to $370 million.

Through the years, The Peoples State Bank has been a reliable source of funds for the growing agricultural and commercial community. More recently, the bank has established itself as a leader in the most modern financial services available in the area.

Witness to this leadership are the current offerings of local ATMs, debit cards (Peoples MasterMoney), telephone banking (Peoples Voice), online and Mobile banking (Peoples Express and One Click banking), and the local source of internet connectivity (Peoples Net). Insurance, Trust and Investment services are also available for individuals, families and businesses, preparing for whatever life brings. These services are complemented by a full menu of loan products, including fixed rate home loans, home equity loans, business loans, commercial, agricultural and consumer loans.

Peoples State Bank second floor remodel main bank

2018

In 2017 it became apparent that Peoples State Bank was outgrowing its main bank. A full remodel and restoration of the second floor, previously used as storage, kicked off that Fall. The project was completed in 2018 and created new office space for Peoples Wealth Management, Peoples Insurance Services, Peoples State Bank Trust Department and more.

During the same period, Peoples State Bank grew outwardly with the acquisition of three branch locations in Greenville, Salem and Vandalia, Illinois. By welcoming these customers, employees and communities to the PSB family, the bank was able to invest in contiguous markets, bringing new customers the outstanding personalized service and commitment to community banking that existing customers have come to expect.

Salem Vandalia Greenville Branches

Current directors include John M. Dougherty, Ed Grunloh, Dr. Adam Wolf, Gregory Ikemire, Paul B. Finley, Tamara Phillips, Stacy Moore and Brett Lessley.

In the mega-banking era of the 21st century, it is the mission of The Peoples State Bank to provide growth and stability to all the communities we serve. The Peoples State Bank is a “true” locally owned community bank, whose earnings are redirected back into Jasper, Lawrence, Fayette, Bond and Marion counties. We consider it a privilege to have served in community banking for more than 140 years, and we pledge the same quality of service for many years to come.