People First Bancshares, Inc. held its annual meeting of shareholders on March 26, 2014 at Peoples Bank & Trust in Pana, IL. During the meeting, Larry D. Beaty, George Hiler and David Slater were reelected to three year terms as directors of the Bank and Holding Company. Other directors of the Bank and Holding company are James D. Randolph, David Fines, Michael E. Beyers, John Gardner and Michael M. Trexler.
During the report of operations, John Gardner, President and CEO, explained that 2013 was a successful year for Peoples Bank & Trust and recognized the Board, Management and Employees for their contributions to the bank’s success. Gardner recognized Robert Zueck and Barry Heaton who are both retiring from the Board of Directors after over fifteen years of service.
Gardner reported that the bank generated record earnings, maintained fundamental strengths and completed the integration of banks recently acquired in a very challenging environment.
Gardner also reported that during 2013, net income increased from $5.310 million to $5.475 million. Net income per average share also increased from $16.25 to $16.80, resulting in an increase in book value per share from $74.52 to $77.23.
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. People First Bancshares, Inc., with corporate offices in Pana, Illinois, is the holding company for Peoples Bank & Trust.