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About Us
Customers. People. CommunityA time honored banking tradition of serviceWhen walking through our doors, you notice something different. The Golden Rule is still in fashion and our time-honored tradition of serving the people presides. |
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CUSTOMERS are the primary reason for our existence and that their needs are our principal focus. |
The history of Peoples National Bank, chartered as a national bank in 1909, actually began in 1893, when a private firm called Peoples Bank was founded in McLeansboro, Illinois, by John H. Miller. Mr. Miller, a prominent businessman who later served as Speaker of the Illinois House, led the Bank until his death in 1907. In 1909 the trustees reorganized the bank and obtained a national bank charter as Peoples National Bank. In 1923 Peoples National Bank assumed a portion of the assets and liabilities of the Cloud State Bank, originally organized in 1871 by Chalon Cloud as a private bank under the name Hamilton County Bank. Peoples National Bank also purchased the Cloud State Bank building, which had been built by Chalon Cloud and his father, A.G. Cloud, in 1880-1882. The distinctive Cloud State Bank building had been designed by the Reid Brothers of Evansville, Indiana, who later designed the famous Hotel del Coronado near San Diego. Now on the National Register of Historic Places, this building is still the home of Peoples National Bank in McLeansboro, and has become a symbol of the long history of the Bank as a strong financial institution. Almost 80 years later, on August 8, 1988, shareholders Bill Bonan, an attorney, and his brother, Hunt Bonan, formed a bank holding company for the purpose of acquiring 100% of the stock of Peoples National Bank. The holding company was named Market Street Bancshares, Inc. as a reference to the location of their family law firm, Bonan & Bonan, on Market Street in McLeansboro. At the time the holding company was formed, Peoples National Bank assets totaled $50 million. The original Board of Directors of the holding company was comprised of:
In 1991 Peoples National Bank of McLeansboro started to expand into new markets, opening its first de novo branch in Mt. Vernon, Illinois. In 1995, Wayne County Bank in Fairfield, Illinois, was acquired and the name was changed to Peoples National Bank. De novo locations continued with expansion into Harrisburg in 1996 and Salem in 1997. In 1999, the opportunity arose to acquire a Mercantile Bank location in Dahlgren, Illinois, and the name was changed to Peoples National Bank. A de novo location was opened in Centralia in 2001. In 2003 Peoples National Bank began to move into the Metro East area with a de novo location in Swansea, Illinois. In the summer of 2004, a Missouri Bank Charter was purchased and the first Missouri bank opened in St. Charles. A former bank building was purchased in Belleville, Illinois, to house a de novo location that opened in 2005. In 2005, a second banking location was opened in Salem, Illinois at the Salem IGA. De novo locations continued with expansion into Vandalia, Marion and Effingham, Illinois and Downtown St. Louis, Missouri in 2006. Peoples National Bank continued its expansion in 2007. Cloud Capital, a subsidiary of Peoples National Bank, opened a new loan production office in Springfield, Illinois. The Salem IGA location closed and a new drive-up location opened in Harrisburg and a new de novo location opened in Benton, Illinois. In late 2007, the loan production office in Springfield, Illinois named Cloud Capital closed. In 2008, expansion continued with a second banking location opened in Mt. Vernon, Illinois at 522 Main Street and another Missouri location opened in Clayton. In fall 2008, Peoples National Bank sold its Vandalia and Effingham locations. While other banks emphasize growth through an aggressive retail sales force, Peoples National Bank has concentrated on developing a highly professional staff that includes attorneys, accountants, and financial planners. Our expertise is in the development of innovative loan, deposit, and trust products with a full array of complementary secondary market sources and specialized governmental loan and guarantee programs. Peoples National Bank has now been in continuous operation for over 100 years, having survived even the great depression. With assets of over $800 million, Peoples National Bank continues to offer financial services that meet the needs of individuals and small business owners. Information regarding the early years of Peoples National Bank was summarized from the book The Early History of Peoples National Bank, McLeansboro, Illinois by J. Michael Raley (McLeansboro, Illinois: The Peoples National Bank, 1994). |
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Peoples National Bank is participating in the FDIC's Transaction Account Guarantee Program. Under that program, through December 31, 2010, all noninterest-bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account. Coverage under the Transaction Account Guarantee Program is in addition to and separate from the coverage available under the FDIC's general deposit insurance rules.