The Hancock-Henderson Quill, Inc.
Bank of Stronghurst, a community bank
In 1946 a group of merchants headed by Clarence Neff formed a committee in an attempt to organize a new bank. Some of the other members of the committee were Sam Howell, Lloyd Rankin, R. L. Peasley, M.H. Lovitt, Glenn Marshall, and Otto Steffey.
An application for permission to organize the Bank of Stronghurst was completed and the State of Illinois issued a "permit to organize the Bank of Stronghurst" and to sell subscriptions for 350 shares of Common Stock at $150 per share. There would be $35,000 capital, $10,000 surplus and $7,500 reserve, making a total of $52,500. This figure is quite a bit smaller than today's capital and reserves which is $10,487,209.
Subscribers had to be found and this was not an easy task since potential investors had unpleasant memories of being assessed for additional funds when two previous banks had failed in Stronghurst. At that time there was a 100% assessment against owners of bank stock in a failed bank.
The stock sale was completed with 163 subscribers purchasing the 350 shares along with seven prospective directors purchasing ten shares each. A charter was granted to the Bank of Stronghurst on April 24, 1946, for a duration of 99 years. The bank opened for business on April 27, 1946 with a total of 130 depositors and the amount of deposits was $192,000. Diane Grigsby was the first depositor of the bank.
Directors elected by stockholders were: Clarence E. Neff, Joe R. Peasley, O.W. Lauver, A. W. Nolen, M.H. Lovitt, Howard A. Smith, and Wayne L. Waddill. Clarence E. Neff was elected President, Joe R. Peasley, First Vice-President, O.W. Lauver, Second Vice-President, and Howard E. Grigsby was selected as Cashier.
For eighteen years the bank occupied the old bank building it had purchased from Charles E. Fort. In 1964, a new building was erected on the lot just east of the old building and in 1976 an addition was added to the west end of the building. The Bank of Stronghurst has branched into Lomax, opening the Lomax Banking Center in November 1996 and last month, the Dallas Banking Center in Dallas City.
In 1992, another addition to the bank building was added at the west corner, which included offices plus installation of a new service offered by the bank, an Automated Teller Machine. (ATM) Presently there are a total of three, one at the Bank of Stronghurst, one at country Fun, near Biggsville, and one at The Pink in Lomax.
It was thought that maybe the "older" generation wouldn't take to this new banking technique, but it seems like it's a big hit with young and old alike.
Concerns for some are the financial difficulties for local businesses and the area school systems. It's very difficult to watch the numbers of businesses in the area decline and to learn about the local school systems facing cut-backs on academics and possible relocation.
For the banking system, a great concern is keeping current on the government regulations and trying to adjust those regulations from the large metropolitan banks to our small community banks and still keep that personal touch.
There are good people working in the banking system to serve customers, help people progress in business, and watch young children learn to do their banking as they mature into adults.
There have been many changes in the banking industry but computers have certainly brought about the greatest change. It has made record keeping easier and computers help retrieve information quickly.
The directors for the Bank of Stronghurst are Kenneth Nimrick, Sidney L. Dowell, Charles E. Neff, James A. Melvin, W. William Waddill, George Hennenfent and Charles E. Vaughn. Director Emeritus is Harold W. Nolen
The officers and employees are James A. Melvin, Chm. of Board; Charles E. Vaughn, President & CEO; Jerry Keimig, Vice President/Farm Loan Officer; Gary D. Kline, Vice President; Jane Malcolm, Asst. Vice President; Rodney Brake, Vice President/Cashier; Shawn R. McKoon, Vice President; Stacie A. Newberry, Assistant Cashier; Marlene Knut-strom, Executive Secretary; Brenda Brokaw, Secretary; Dianna Duncan, Teller; Sharen Burrell, Bookkeeper; Carolyn Nelson, Bookkeeper; Chris Talbott, Bookkeeper; Anne Pogue, Part-Time; and Kari Keimig, Part-Time.
Lomax Banking Center: Teller; Barbara Logan, Teller; Cathy Schaefer, and at the Dallas Banking Center:
Shawn R. McKoon, Branch Manager., Teller - Rashele Johnson; Teller- Shalyn Shirey, and Josh DeSotel.
STRONGHURST
(from left) Rod Brake, Chuck Vaughn, Sherry Burrell, Carolyn Nelson, Gary Kline, and Jerry Keimig. From front left is Jane Malcolm, Brenda Brokaw, Marlene Knutstrom, Chris Lung, Dianna Duncan and Stacie Newberry
LOMAX BANKING CENTER
(from left) Tellers Cathy Schaefer and Barbara Logan
DALLAS BANKING CENTER
(from left) Shawn McKoon, Branch Mgr., Rashele Johnson, Shalyn Shirey, and Josh DeSotel