Effective Saturday, June 29, The First National Bank will become The FNB Community Bank. The name change reflects the bank’s move to an Illinois state chartered bank and state member of the Federal Reserve Bank of St. Louis. The charter conversion will have no impact on customers or the services provided by the bank. The FNB Community Bank will remain a member of the Federal Deposit Insurance Corporation (FDIC).
Todd Shulman, Chairman of the Board of Directors, explained, “We have been conducting business as 1st National Bank since 1865, so making the decision to change our name was very difficult. However, the benefits of becoming a state charter far outweigh any negatives. We are still the same bank, in the same locations, with the same employees working to provide the best banking service.”
Michael Radliff, CEO/President, said the name may be new but it reflects the bank’s 154 year tradition of serving the community. “We are unifying our brand of banking – a small town community bank meeting the needs of farms, neighbors, and businesses,” Radliff noted.
As a state chartered bank, The FNB Community Bank will be working with regulators who are closer in proximity and have a deeper understanding of an agricultural economy.
Radliff explained, “We’ve always been a community bank. Our employees live, work, serve, and invest in our communities. The FNB Community Bank name reflects that core reason for our success since 1865.”
Over the coming weeks, signage, brochures, and other marketing materials will be replaced with those featuring a new logo.
Originally chartered in August 1865 as The National Bank of Vandalia, the institution was reorganized in 1895 as The First National Bank of Vandalia. In April 1994, branches in Ramsey and Patoka were added. Growth continued in 2008 with the addition of locations in Mulberry Grove and Greenville. The FNB Community Bank has over $337 million in assets and is headquartered in Vandalia.