People First Bancshares, Inc. held its annual meeting of shareholders on March 27, 2013 at Peoples Bank & Trust in Pana, IL. During the meeting, James D. Randolph and David R. Fines were reelected to three year terms as directors of the Bank and Holding Company. Other directors of the Bank and Holding company are Larry D. Beaty, George Hiler, David Slater, Michael E. Beyers, John Gardner and Michael M. Trexler. Barry V. Heaton and Robert Zueck were re-appointed to serve as Director Emeritus.
During the report of operations, John Gardner, President and CEO, explained that 2012 was a great year for Peoples Bank & Trust and recognized the Board, Management and Employees for their contributions to bank’s success. Gardner welcomed new officers: Cindy Whittemore, Vice President, Senior Credit Administration Officer, Carol Furnish, Vice President, Credit Administration Manager, Carl Moran, Jr., Community Bank President, Mike Rueter, Vice President, Business Banking, Robert Lyman, Vice President, Business Banking, Larry Boston, Vice President, Business Banking, Jeff Grimmett, Assistant Vice President, Consumer Banking, Lori Doolin , Assistant Vice President, Consumer Banking, and Terry Schafer, Assistant Vice President, Marketing and Human Resources.
Gardner reported that following its acquisition and merger with White Hall Bank & Wemple State Bank in December, Peoples Bank & Trust has expanded into the communities of Morrisonville, Palmyra, Waverly and White Hall. Peoples Bank & Trust now has banking facilities in ten communities representing seven distinct market areas. “We’re excited about the opportunity to join these communities.” Gardner explained, “They are very similar in nature to the communities where we’ve been most successful, and where we’ve been able to make a positive impact for the community.”
Growth and shareholder returns were financial highlights of 2012. Gardner reported that bank assets increased from $297 million to $404 million; deposit volume increased from $245 million to $335 million, the bank’s loan portfolio grew from $197 million to $274 million; and net income increased from $3.8 million to $5.3 million. Earnings per share increased from $11.80 to $16.50, resulting in an increase in book value per share from $64.02 to $74.33.
Gardner concluded, “2012 was a great year for Peoples Bank & Trust. We plan to continue to build our employee teams, operate in a safe and sound manner, focus on our customers and deliver strong shareholder returns."
Peoples Bank & Trust is a locally owned and managed, independent community bank with ten offices located in 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 business, and farmers in Central Illinois. People First Bancshares, Inc., with corporate offices in Pana, Illinois, is the holding company for Peoples Bank & Trust.