About Us
About Us
Initial Formation
A group of area businessmen began to talk seriously about the possibility of organizing a bank. A group of eight directors was formed that did much of the ground work toward getting the bank started.
- Rodell Beaty
- Ray B. Dewhirst
- Robert J. Greive
- Roscoe Herman
- Gordon Perry
- Jack Marantz
- Tom McGary
- Conrad Noll
Four additional directors were added:
- Robert Ashbaugh
- William Hartel
- Robert Kohl
- Glenn Luttrell
These young men attended a school on banking at the Springfield Capitol Bank and Trust Company one night each week for several months.
Charter Obtained
After all requirements of the Federal Deposit Insurance Corporation and Commissioner of Banks of the State of Illinois were met, a permit was issued 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.
First Stockholders Meeting
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.
- 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.
Building Finished
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.
Citizens Bank of Edinburg is still going strong today.