People First Bancshares Inc. recently held its annual meeting at Peoples Bank & Trust in Pana, Illinois, where the organization reviewed the past year’s performance and recognized changes in its leadership team.
The Board of Directors honored director emeritus Michael Trexler for his 31 years of service upon his retirement. The board also welcomed Robert Swartz, who joined the company's Board of Directors in the previous year. Additionally, the organization acknowledged the retirements of Sherri Hunter, Carol Schneider, and Sue Palliser for their contributions.
In 2024, the company reported substantial financial growth, including a $34 million increase in gross loan volume, bringing the total to $413 million. Deposit volume rose by $57 million to reach $480 million, and net income climbed by $770,370, totaling slightly more than $8.2 million.
A key factor in this growth was the merger with Arcola First Bank, which added three new branches in Arthur, Arcola, and Tuscola, as well as a new customer base. In line with its mission to support local communities, the company contributed more than $150,000 to community organizations and logged over 4,000 volunteer hours by employees and directors.
The merger also expanded the company’s workforce with 17 new employees from Arcola First Bank. Additionally, Peoples Bank & Trust recruited five bank officers from outside the organization and promoted 13 existing team members to new roles, continuing its focus on team and leadership development.
