Question 1

What is State Bank of St. Jacob?

Accepted Answer

State Bank of St. Jacob is a community-focused commercial bank serving Saint Jacob, Illinois, and the surrounding Madison County area. With approximately $87.8 million in total assets and $74.8 million in deposits, the bank operates as an independent, locally-owned financial institution. As a state-chartered bank supervised by the FDIC, State Bank of St. Jacob specializes in providing personalized banking services to individuals, families, and small businesses in the St. Louis metropolitan area.

The bank is structured as a Subchapter S Corporation and operates under its parent company, St. Jacob Bancshares Inc.

Question 2

When was State Bank of St. Jacob founded?

Accepted Answer

State Bank of St. Jacob was established on November 3, 1903, making it over 120 years old. The bank began operations during the early 20th century when community banking was flourishing across rural Illinois.

Founded to serve the agricultural and commercial needs of Saint Jacob and surrounding communities, the institution has maintained its independence and local ownership throughout its history. The bank became FDIC-insured on January 1, 1934, shortly after the Federal Deposit Insurance Corporation was created.

Question 3

Where is State Bank of St. Jacob headquartered?

Accepted Answer

State Bank of St. Jacob is headquartered in Saint Jacob, Illinois, a village in Madison County. The main office is located at 102 West Fourth Street, Saint Jacob, IL 62281.

Saint Jacob is positioned within the greater St. Louis, MO-IL metropolitan statistical area, providing the bank access to both rural and suburban markets.

Question 4

Where does State Bank of St. Jacob operate?

Accepted Answer

State Bank of St. Jacob operates exclusively in Saint Jacob, Illinois, with two locations serving the local community:
• Main Branch: 102 West Fourth Street, Saint Jacob, IL 62281
• Drive-up Facility: 702 North Douglas Street, Saint Jacob, IL 62281

Both facilities serve Madison County residents and businesses within the St. Louis metropolitan area. The bank focuses on maintaining a strong local presence rather than expanding geographically, allowing it to concentrate resources on serving its immediate community.

Question 5

What services does State Bank of St. Jacob offer?

Accepted Answer

State Bank of St. Jacob provides a comprehensive range of traditional community banking services, including:

Deposit Accounts:
• Regular checking accounts
• NOW (Negotiable Order of Withdrawal) checking accounts
• Passbook savings accounts
• Money Market Deposit Accounts
• Certificates of Deposit

Lending Services:
• Real estate loans (approximately $19.2 million in loans secured by real estate)
• Commercial and industrial loans (approximately $4.2 million)
• Consumer loans to individuals (approximately $19.1 million)
• Agricultural lending

Digital Banking Services:
• 24-hour online banking access
• Mobile banking applications
• Online account management
• Fund transfers
• Electronic statements

The bank maintains a strong focus on relationship banking, with 11 employees providing personalized service to customers.

Question 6

What makes State Bank of St. Jacob unique?

Accepted Answer

State Bank of St. Jacob distinguishes itself through several key characteristics:

Local Independence: As a locally-owned, independent community bank for over 120 years, the institution has maintained its commitment to serving Saint Jacob without being absorbed by larger regional or national banking organizations.

Strong Financial Performance: The bank demonstrates solid profitability with a Return on Assets (ROA) of 1.24% and Return on Equity (ROE) of 8.85%, indicating efficient operations and strong financial management.

Community Focus: With only two locations and 11 employees, the bank maintains an intimate knowledge of its customers and community. The bank averages approximately $7.98 million in assets per employee, reflecting efficient operations for a small institution.

Conservative Operations: The bank maintains a robust Tier 1 Leverage Ratio of 14.7%, well above regulatory minimums, demonstrating financial strength and stability. The institution operates without trust powers, focusing on its core banking competencies.

Extended Hours: The drive-up facility offers convenient hours, opening as early as 8:30 a.m. and remaining open until 6:00 p.m. on Fridays, with Saturday morning hours available for customer convenience.

Question 7

What type of financial institution is State Bank of St. Jacob?

Accepted Answer

State Bank of St. Jacob is a community commercial bank operating under a state charter. As a state-chartered, non-member bank, it is regulated by the FDIC rather than the Federal Reserve System.

The bank fits the classic definition of a community bank—a locally-owned and operated institution with deep roots in a specific geographic area, focused on relationship banking and serving local deposit and credit needs. With assets under $100 million, State Bank of St. Jacob exemplifies the traditional small-town bank model that has served rural and small-town America for over a century.

The institution operates within the FDIC's "All Other Under 1 Billion" specialization category, indicating its focus on general-purpose community banking rather than specialization in a particular financial niche.

State Bank of St. Jacob

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About State Bank of St. Jacob in the United States