Introduction and History

On March 1, 1928, Peoples State Savings Bank opened its doors at the corner of Tremont and Second Streets and began to provide banking and other services to Kewanee and the surrounding Tri-county area. The Bank started with an 8 member staff consisting of Charles D. Terry, President; James H. Andrews, Vice President; Sam M. Cox, Vice President; Joseph N. Gamble, Vice President; Charles S. Eastman, Cashier; Frank H. Rogers, Teller; Mrs. Florence DeRycke, Bookkeeper; and Miss Mayme Phillips, Clerk and Stenographer. Members of first Board of Directors were: James Andrews, Sam Cox, Charles Eastman, Joseph Gamble, Frank Lay, Charles Terry, Peter Waller, Charles Wiffen, and Henry Zang.

In recognition of its growing strength and stability, the bank was accepted as member of the Federal Reserve System in November, 1933. On February 26, 1934, the Bank moved to its current location at 207 North Tremont Street. On June 30, 1939, the Bank converted to a national charter and was named Peoples National Bank of Kewanee (PNB). The first president of Peoples National Bank of Kewanee was Charles D. Terry. Charles S. Eastman was appointed the first Cashier. Shirley Keane became an employee of the Bank in 1942 and was employed by the Bank for 48 years before retiring in April, 1990. Charles S. Eastman was named president of the Bank in January, 1950. John H. Lewis became the third president of Peoples National Bank of Kewanee on January 8, 1952.

Through the years the Peoples National Bank of Kewanee (PNB) has shown its leadership through recognition and acceptance of new technology. In June, 1958, to provide greater convenience to our growing mobile society, the bank opened the first drive up window in Kewanee. In 1959 the Earle Hotel, located on the corner of  Tremont and Third Streets was torn down to develop PNB's current parking lot. The Bank expanded into the Wilson Building in May, 1967. As the community continued to grow the bank responded by opening the Southtown drive up facility in December, 1983. This addition provided the community with a total of 5 drive up windows. In 1996, PNB again responded to our customer's increased usage of drive up windows at the Main Bank location by creating a special "commercial customer only" window and constructing 4 additional remote drive up windows equipped with voice and video to continue our commitment to providing "face-to-face" contact with our customers.

In January, 1965, Robert H. Eastman was named the fourth president of Peoples National Bank of Kewanee.

When Automated Teller Machines (ATMs) became another resource that banks could use to provide customers more convenient, 24 hour access to their money, PNB installed the first ATM in Kewanee at the main bank location in August, 1983. A second ATM was installed at the Southtown location in June, 1990. The bank now has 9 convenient ATM locations in Kewanee, Annawan, Bradford, Buda, Manlius, Sheffield, and Tampico.

Deregulation of the banking industry in the early 1980s provided another opportunity for the bank to expand the types of financial products it could offer. Through a program developed by the Community Bankers Association of Illinois, PNB customers now have the opportunity to diversify their financial holdings with the purchase of a wide variety of mutual funds through Federated Securities.  PNB has also partnered with Ameritrade Financial Services to offer an online Internet discount brokerage service offering our customers the opportunity to invest in stocks, bonds, and mutual funds.

In June, 1988, Gary M. Combs was named the fifth president of Peoples National Bank of Kewanee.

Taking advantage of banking deregulation and changes in state banking laws, a one bank holding company, Peoples Financial Corp of Illinois was formed in February, 1990. In January, 1994, to further its presence as a locally owned community bank, PNB purchased the Bradford Banking Company and merged it into PNB establishing its first branch location. Currently employing 5 staff members, the Bradford Banking Center offers all PNB financial products and services including a 24 hour ATM.

Knowing the importance of the senior population in the community, Peoples National Bank of Kewanee became the first bank in Kewanee to create a program specifically targeted directly for seniors. The Priority Plus Club created in 1994, offers seniors a package of financial products and services in addition to travel and entertainment opportunities to over 1300 members.

In August, 1995, Charles D. "Chip" Eastman was named the sixth president of Peoples National Bank of Kewanee.

Changing lifestyles of its customers led Peoples to offer Peoples Value Checking Accounts in 1997. This package of accounts offers all PNB customers free checks, discounts, unique medical and safety-related services.

In December, 1997, PNB opened its second branch location in Sheffield. Occupying its new building in August, 1999, the Sheffield Banking Center currently employees 6 staff members and offers all PNB financial products and services including drive-up banking and a 24-hour ATM.

Recognizing its continued financial strength and stability, the Bauer Financial Rating Service has awarded Peoples National Bank of Kewanee its "Five-Star Rating" for more than 10 years.

On March 3, 2003, the Bank began a week long celebration in honor of its 75th Anniversary.

In April, 2007, PNB broke ground for its third branch location in Annawan.  On September 17, 2007, PNB opened the Annawan Banking Center located at 111 North Canal Street. The facility employs 5 staff members and offers PNB financial products and services including drive-up banking and a 24-hour ATM.

On June 6, 2008, PNB purchased the Manlius and Tampico offices of Centrue Bank and merged them into PNB, establishing the Manlius Banking Center and Tampico Banking Center.  Each facility employs 5 staff members and offers PNB financial products and services including drive-up banking and a 24-hour ATM.

Peoples National Bank currently employs 84 people. Members of the Board of Directors are: Charles D. Eastman, Reynolds M. Everett, Jr., George J. Guzzardo, James A. Rinella, John H. Spets, and Robert VerHeecke.