History
In the late 1960’s a group of area businessmen began to talk seriously about the possibility of organizing a bank. Eventually a group of eight directors was formed, which along with interested citizens did much ground work toward getting a bank started. The eight original directors were: Rodell Beaty, Ray B. Dewhirst, Robert J. Greive, Roscoe Herman and Gordon Perry, all of Edinburg and Jack Marantz, Tom McGary and Conrad Noll, all of Springfield.

Four additional directors, Robert Ashbaugh, William Hartel, Robert Kohl and Glenn Luttrell were obtained at a meeting held in June 1970. These young men attended a school on banking at the Springfield Capitol Bank and Trust Company one night each week for several months.

Finally after all requirements of the Federal Deposit Insurance Corporation and Commissioner of Banks of the State of Illinois were met, they applied for a charter and on July 2, 1970 a permit was issued by the Commissioner of Banks and Trust Companies of Illinois to organize the Citizens Bank of Edinburg, to be located on Washington Avenue. Total capitalization equaled $400,000 with capital stock of $160,000 and reserves for operations of $80,000. 16,000 shares of stock were to be sold at $25.00 per share. In the first week of the sales sixty percent of the stock was sold. The stock sale closed on August 20th, 1970.

A stockholders meeting was held at the Community Building September 24, 1970, at which time the following directors were elected, Robert Ashbaugh, Rodell Beaty, Ray B. Dewhirst, Robert J. Greive, William Hartel, Roscoe Herman, Robert D Kohl, Glenn W Luttrell, Thomas H McGary, Conrad Noll Jr. and Gordon E. Perry. A Board of Director’s organizational meeting was held following the stockholders meeting with Ray B. Dewhirst being elected chairman of the Board, Rodell Beaty, President, Tom McGary and Robert J Greive, Vice-Presidents and Robert Ashbaugh, Cashier.

Construction of the building at the corner of Washington Avenue and Easton Street was started in November, 1970 and completed in July 1971. Open house was held on July 15th and the new banking facility opened for business July 16th, 1971, with Senator Robert McCarthy and Mayor Herbert Huffines officiating at the ribbon cutting.

At the end of the first year of business in 1971 the total assets were $2,174,651.85 and a 10 percent stock dividend was paid to the stockholders. Total assets at the close of business December 31, 2010 were $19,353,787.58.
 


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