Question 1

What is Clay County State Bank?

Accepted Answer

Clay County State Bank is an independent, locally-owned community bank headquartered in Louisville, Illinois. With approximately $103 million in assets, the bank operates a single office serving Clay County and the surrounding southeastern Illinois region.

Established as a privately-owned corporation, the bank focuses on providing personalized banking services to residents, farmers, and businesses in this rural Illinois community. The bank maintains strong ties to its agricultural roots while offering a full range of modern banking products and services to meet the evolving needs of its customer base.

Question 2

When was Clay County State Bank founded?

Accepted Answer

Clay County State Bank was organized on September 13, 1905, following a meeting of local individuals who recognized the need for a community bank to serve Louisville and the surrounding area. The founding members included W.H. Dillman, C.S. Erwin, J.H. Moore, J.C. Bible, and J.L. McKnight.

The bank's first Board of Directors consisted of Lewis Dillman, A.H. Moore, J.H. Smith, C.S. Erwin, P.N. Smith, B.F. Scaife, W.D. Dillman, W.A. Harmon, and Thomas Abel. Lewis Dillman served as the bank's first President. The institution was originally funded with $25,000 derived from the initial sale of bank stock to professional men, business men, and farmers in the community.

Over the decades, the bank has been led by several presidents including James W. Cogswell, I.E. (Ebert) Ikemire, James W. Dawkins, James E. Pottorff, and Daniel N. Schoonover. Jon R. (Randy) Wells currently serves as President.

Question 3

Where is Clay County State Bank headquartered?

Accepted Answer

Clay County State Bank is headquartered in Louisville, Illinois, the county seat of Clay County. The main office is located at 111 North Church Street on the town square in downtown Louisville, a central and historic location in the community.

Question 4

Where does Clay County State Bank operate?

Accepted Answer

Clay County State Bank operates from a single location in Louisville, Illinois, serving Clay County and the surrounding southeastern Illinois region. The bank's market area includes rural communities and agricultural areas in this part of Illinois.

Louisville is located in southeastern Illinois, and the bank primarily serves customers from Clay County and neighboring counties. The institution has maintained its focused, single-location strategy since its founding, emphasizing deep community ties over geographic expansion.

Question 5

What services does Clay County State Bank offer?

Accepted Answer

Clay County State Bank provides a comprehensive suite of personal and business banking services. Personal banking products include checking accounts, savings accounts, certificates of deposit (CDs), and individual retirement accounts (IRAs).

The bank offers various lending products including farm loans, consumer loans, business loans, and residential real estate loans. As a locally-owned institution, customers benefit from quick approval on loan requests, with lending decisions made locally by people familiar with the community and its needs.

Digital banking services include online banking, mobile banking, text banking, and bill pay, allowing customers to manage their finances conveniently. The bank combines modern technology with traditional community banking values, providing both in-person service at its downtown location and digital access through its website at www.claycobank.com.

Drive-up banking services are available Monday through Saturday, with extended lobby hours to accommodate customer schedules.

Question 6

What makes Clay County State Bank unique?

Accepted Answer

Clay County State Bank stands out for its exceptional longevity and unwavering commitment to the Louisville community, having served residents and businesses continuously for over 119 years. The bank has remained independently owned and operated throughout its history, maintaining local decision-making and a personal approach to banking.

The institution's strong financial performance demonstrates sound management, with a return on assets of 1.23% and a return on equity of 12.12%, significantly above average for community banks. This solid performance enables the bank to continue serving its community with competitive products and reliable service.

The bank's location on the town square in Louisville symbolizes its central role in the community's economic life. Its shareholders continue to be drawn from the surrounding area, ensuring local ownership and local control. The bank's commitment to quick loan approvals and personal service reflects its philosophy that banking should be about relationships, not just transactions.

Question 7

What type of financial institution is Clay County State Bank?

Accepted Answer

Clay County State Bank is a State-Chartered Community Bank, operating under Illinois state banking regulations with FDIC supervision. It is classified as a commercial bank that serves a defined local market with a focus on relationship banking.

As a community bank, it emphasizes personal service, local decision-making, and maintaining strong relationships with customers in its market area. The bank operates as an S-Corporation and maintains fiduciary powers, allowing it to provide trust services to customers. Its structure as a privately-owned corporation with local shareholders ensures that the bank remains focused on serving the needs of Clay County and surrounding communities rather than pursuing broader geographic expansion.

Clay County State Bank

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About Clay County State Bank in the United States