Question 1

What is Fairfield National Bank?

Accepted Answer

Fairfield National Bank is a federally-chartered community bank serving southeastern Illinois with approximately $615 million in assets. As Fairfield's largest and oldest locally-owned bank, the institution specializes in farm and consumer lending while providing traditional banking services throughout Wayne County and surrounding areas. With three locations in Fairfield, Grayville, and Wayne City, the bank has maintained its commitment to personalized service since its founding in 1903.

Question 2

When was Fairfield National Bank founded?

Accepted Answer

Fairfield National Bank began business on March 2, 1903, with an initial capital of $60,000. The new institution was established as a successor to the respected nine-year-old Pendleton, Johns, and Company banking business and the earlier E. Bonham & Company Bank.

The bank's conservative, community-minded financial policies produced steady, solid growth even during difficult economic times. A significant milestone occurred on November 23, 1931, when Fairfield National accepted the assets and liabilities of the First National Bank, creating a combined capital of $1.5 million that assured long-term stability for the institution.

The original 2½ story brick and limestone building on Main and Third Streets anchored Fairfield's skyline and business district for over a century. In 1971, a modern banking facility was erected to continue serving the community's varied financial needs, which remains in operation today.

Question 3

Where is Fairfield National Bank headquartered?

Accepted Answer

Fairfield National Bank is headquartered in Fairfield, Illinois, at 220 East Main Street. Fairfield is the county seat of Wayne County in southeastern Illinois.

Question 4

Where does Fairfield National Bank operate?

Accepted Answer

Fairfield National Bank operates in southeastern Illinois with three branch locations: the main office in Fairfield, and branches in Grayville and Wayne City. The bank's assessment area encompasses all six census tracts in Wayne County, along with portions of Jefferson, Edwards, Wabash, and White Counties.

The bank maintains three deposit-taking automated teller machines (ATMs) and five ATMs that do not take deposits, extending convenient access throughout its service area. All bank locations are situated to serve the local communities where its employees are friends and neighbors of its customers.

Question 5

What services does Fairfield National Bank offer?

Accepted Answer

Fairfield National Bank offers traditional banking products and services with a strategic focus on farm and consumer loans. The bank provides comprehensive consumer banking including checking and savings accounts, consumer loans, and various deposit products.

For agricultural customers, the bank specializes in farm lending, reflecting the rural character of its market area. Commercial lending services are also available, though farm and consumer loans represent the bank's primary product offerings based on its business strategy.

Digital banking services include internet banking, mobile banking, and telephone banking, complementing the bank's branch and ATM network. The bank offers identity protection services through IDProtect to help safeguard customers' personal information.

Fairfield National Bank also operates the Fairfield National Bank Community Foundation, demonstrating its commitment to philanthropic activities in the communities it serves.

Question 6

What makes Fairfield National Bank unique?

Accepted Answer

Fairfield National Bank distinguishes itself as the oldest and largest locally-owned bank in Fairfield, with over 120 years of continuous service to the community. The bank's dedication to personalized service remains central to its identity, with employees who are friends and neighbors of their customers.

The bank's performance in community development has been recognized as outstanding by federal regulators. During evaluation periods, Fairfield National Bank has demonstrated excellent responsiveness to community development needs through substantial lending, investments, and services. Notable contributions include funding for a farm market's building renovation, supporting local parks districts, financing community college improvements, and funding school construction serving low-to-moderate income students.

The bank's conservative yet progressive approach has enabled it to navigate economic challenges while maintaining steady growth. From the Great Depression era, when it strengthened its position by acquiring another bank, to modern times, Fairfield National Bank has held true to the foundational values established in 1903.

The institution's focus on farm lending reflects deep understanding of the agricultural economy that defines its market area. This specialization, combined with strong consumer lending, positions the bank as uniquely attuned to the needs of rural Illinois communities.

Question 7

What type of financial institution is Fairfield National Bank?

Accepted Answer

Fairfield National Bank is a National Bank, as indicated by its charter designation. Operating under federal charter number 6609, the bank is regulated by the Office of the Comptroller of the Currency (OCC).

National banks are federally-chartered institutions that can operate across state lines, though Fairfield National Bank focuses its operations on its local Illinois market. This charter type provides federal oversight and allows the bank to offer a full range of commercial and retail banking services while maintaining its community banking mission and local ownership structure.

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About Fairfield National Bank in the United States