People First Bancshares Inc. builds its communities, its customer base, its team, and its capabilities
PROTECTED CONTENT
If you’re a current subscriber, log in below. If you would like to subscribe, please click the subscribe tab above.
Username and Password Help
Please enter your email and we will send you a password reset link.
People First Bancshares Inc., held its annual meeting at Peoples Bank & Trust in Pana, IL. During the meeting, the Board of Directors recognized new directors and the organization’s performance over the past year.
Brad Davis recognized retiring director emeritus Michael Trexler for 31 years of dedicated service to the organization. On behalf of the board, Davis stated, “We thank Mike for his outstanding leadership, guidance and service.”
Davis also introduced Robert Swartz who joined the company’s Board of Directors last year. John Gardner acknowledged and thanked recent retirees, Sherri Hunter, Carol Schneider, and Sue Palliser, for their service.
In 2024, the Company recorded a $34 million increase in gross loan volume to $413 million, a $57 million increase in deposit volume to $480 million, and a $770,370 increase in net income slightly over $8.2 million. During the report of operations, Gardner reported, “But, these numbers don’t recognize the quality of earnings and growth that we experienced. These financial improvements will be sustainable because the bank spent the year Building our Communities, Customer Base, Team, and Capabilities.”
The merger of Arcola First Bank provided three new branches and communities, Arthur, Arcola and Tuscola, and many new customers – building its communities and customer base. Gardner added, “Peoples committed donations and other support of over $150,000 to local community organizations, and its employees and directors provided over 4,000 hours of volunteer service.”
Gardner noted, “Arcola First Bank was a great addition with seventeen new employees, but we didn’t stop there in building our banking team last year!” Peoples Bank & Trust is fortunate to have recruited five bank officers from outside our organization and had the opportunity to promote thirteen members of its existing team to new positions.Recognizing Andrew Olson, Trevor Taylor, and Kacie Evans’ enrollment in the Graduate School of Banking at the University of Wisconsin – Madison in 2024, Gardner stated, “Getting the staff on board isn’t enough, we continue to invest heavily each year in employee professional development including webinars, online courses, seminars, forums, conferences, software user group meetings and other industry specific training and development. “ Upon Olson, Taylor and Evans’ graduation, eighteen of current bank officers will have graduated from at least one national graduate banking school.
And finally, Gardner discussed how the bank built its capabilities in 2024, “Government guaranteed lending is a great way for our bank to provide credit that better serves our customers while managing our credit risk. It’s a strategic focus of the bank, so we focus on developing our internal capabilities and competencies in this area.” Peoples Bank & Trust was as an SBA Preferred Lender (with delegated Small Business Administration authority to authorize government guarantees for its conforming loans). In addition, the bank renewed its status as an SBA Express and SBA Export Express Lender, and a USDA Farm Service Agency Preferred Lender. While USDA’s Business and Industry Guarantee does not offer delegated authority certification, the bank continues to be one of the most active program participants in Illinois.
In closing, Gardner stated, “The board, management and staff are proud of the bank’s accomplishments in 2024. We’re excited that by building the bank’s communities, customer base, team, and capabilities, we positioned the bank for even greater success in 2025 and future years!”
Also during the meeting, David Dorn, Jr, Christopher Swing, and Brittany D Walters were re-elected to three-year terms as directors of the Bank and Holding Company. Other directors of the Bank and Holding Company are Michael E. Beyers, John Gardner, Robert Swartz, Brad Davis, Josh Shallenberger, and Kelly Evans.
During the organizational meeting of the Board of Directors of People First Bancshares, Inc. which followed the annual meeting, Brad Davis was re-elected Chairman of the Board and Christopher Swing was re-elected Vice Chairman of the Board. Other officers include John Gardner, President & CEO; James Adcock, Secretary; Terry Schafer, Asst. Secretary and Craig Deere, Treasurer & CFO.
Peoples Bank & Trust is a locally owned and managed, independent community bank with thirteen offices located in Tuscola, Arthur, Arcola, Charleston, Altamont, Tower Hill, Pana, Taylorville, Morrisonville, Springfield, Waverly, Palmyra and White Hall. Peoples Bank & Trust is a full-service bank offering outstanding customer service to consumers, small businesses, and farmers in Central Illinois. People First Bancshares, Inc., with corporate offices in Pana, Illinois, is the holding company for Peoples Bank & Trust.
For more information on Peoples Bank & Trust and their available banking services or how they can help with consumer or business lending needs, contact the bank at (888) 728-1954 or visit www.BankPBT.com.