Question 1

What is First Southern Bank (Illinois)?

Accepted Answer

First Southern Bank is a community-focused commercial bank based in Marion, Illinois. With approximately $1.03 billion in total assets and 19 branch locations throughout Southern Illinois, First Southern Bank represents one of the region's most substantial community banking institutions.

The bank serves the Carbondale-Marion metropolitan statistical area and surrounding communities. First Southern Bank operates with strong local ties, offering both personal and business banking services with a focus on delivering customer service that meets the financial needs of local residents, businesses, and communities.

Question 2

When was First Southern Bank (Illinois) founded?

Accepted Answer

First Southern Bank traces its origins to December 15, 1937, when it was established as The Bank of Marion. The bank was founded by a group of men who had successfully organized the Bank of Heron and became interested in bringing banking services back to Marion after the Great Depression.

The bank's founding followed a challenging period for local banking. When the Great Depression hit in 1930, Marion was initially isolated enough that the Wall Street collapse went unnoticed by local press for over a week. However, by 1932, all 15 banks operating in Williamson County had closed, including the First National Bank which failed to open on December 1, 1930.

For seven years, Marion had no banking facilities. The Bank of Marion became a reality on December 15, 1937, opening at the former First National Bank location and restoring essential financial services to the community.

The bank underwent significant expansion through strategic acquisitions and organic growth. In August 2014, the institution adopted the name First Southern Bank following the acquisition of First Southern Bank in Carbondale, consolidating its Southern Illinois presence.

Question 3

Where is First Southern Bank (Illinois) headquartered?

Accepted Answer

First Southern Bank is headquartered in Marion, Illinois. The main office is located at 300 Tower Square in Marion.

Marion is located in Williamson County in Southern Illinois, serving as a regional hub for the area. The bank's presence on Tower Square maintains a historic connection to the community dating back to 1937.

Question 4

Where does First Southern Bank (Illinois) operate?

Accepted Answer

First Southern Bank operates 19 domestic branch locations throughout Southern Illinois. The bank's footprint includes Marion, Carbondale, Herrin, Eldorado, Carrier Mills, and numerous other communities across the region.

The bank's service area encompasses the Carbondale-Marion metropolitan area and extends throughout Williamson County and neighboring counties. With the most extensive branch network among community banks in the region, First Southern Bank maintains deep roots in towns and rural communities across Southern Illinois.

The bank has strategically expanded its presence through a combination of de novo branching and acquisitions of established community banks, building a comprehensive network serving both urban centers and smaller communities.

Question 5

What services does First Southern Bank (Illinois) offer?

Accepted Answer

First Southern Bank provides comprehensive personal and business banking services. Personal banking includes checking and savings accounts, certificates of deposit, individual retirement accounts (IRAs), money market accounts, and various consumer lending products.

Residential lending services feature mortgage loans, home equity loans and lines of credit, and refinancing options. The bank emphasizes personalized service with local lending teams who understand the regional real estate market.

Commercial banking solutions include business checking and savings accounts, commercial real estate loans, business term loans, lines of credit, and equipment financing. The bank offers SBA lending programs to support small business growth and development.

Digital banking capabilities include online banking, mobile banking applications, online bill payment, and electronic fund transfers. The bank combines modern technology with traditional relationship banking to serve diverse customer needs.

Question 6

What makes First Southern Bank (Illinois) unique?

Accepted Answer

First Southern Bank distinguishes itself through its remarkable growth story and values-driven approach. The bank's journey from a single location in 1937 to 19 branches with over $1 billion in assets demonstrates sustainable, community-focused expansion.

The bank's mission statement commits to "representing community banking at its best, by delivering customer service that meets the financial needs of our customers, while affording benefit to our local shareholders, employees and our community." This stakeholder-focused approach balances customer needs with community benefit.

First Southern Bank has grown through strategic acquisitions of respected local banks, including The Egyptian State Bank (2005), C.P. Burnett & Sons Bankers (2006), First Southern Bank Carbondale (2014), Herrin Security Bank (2014), and The Bank of Carbondale (2022). Rather than eliminating these institutions, First Southern Bank has consolidated them under a unified brand while maintaining community relationships.

As a locally-owned and managed bank, First Southern Bank maintains decision-making authority in Southern Illinois. The bank's management represents over a century of combined financial experience in the region, providing institutional knowledge and community connections that national or regional banks cannot replicate.

Question 7

What type of financial institution is First Southern Bank (Illinois)?

Accepted Answer

First Southern Bank is classified as a state-chartered commercial bank that is not a member of the Federal Reserve System. The bank operates under FDIC supervision and has been FDIC-insured since its establishment (FDIC Certificate #15565).

As a commercial bank, First Southern Bank offers a full range of consumer and commercial banking services. The bank operates as a subsidiary of Midwest Community Bancshares, Inc., a holding company structure that supports the bank's operations while maintaining its community banking focus.

The state charter provides flexibility in operations while maintaining strong regulatory oversight. First Southern Bank combines the resources and product offerings of a $1 billion institution with the relationship-based service model characteristic of community banks, allowing it to compete effectively against both larger regional banks and smaller local institutions.

Question 8

What is First Southern Bank's history of community reinvestment?

Accepted Answer

First Southern Bank maintains a strong commitment to community reinvestment, as evidenced by its evaluation under the State of Illinois Community Reinvestment Act. The bank is evaluated by the Department of Financial and Professional Regulation on its performance in meeting financial services needs of the community, including low-income to moderate-income households.

The bank encourages community involvement and feedback on its community reinvestment performance. This regulatory framework ensures First Southern Bank actively serves all segments of its market area, not just the most profitable customer segments.

First Southern Bank's long history of serving Southern Illinois communities, combined with its local ownership and management structure, creates natural incentives for community reinvestment beyond regulatory requirements, as the bank's success is directly tied to the economic health of the communities it serves.

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