A foundation built on relationships
When you bank at a locally owned community bank, you can feel the difference. You can tell by the way you’re called by name, by the way you are appreciated and by the way our decisions have a positive impact to the communities we serve.
The First National Bank of Arcola was issued its operating charter on November 9, 1874. The Bank occupied the building of what is now the west side of Yoder’s Homestead Shop on East Main Street in Arcola. James Beggs was the Bank’s first President, and he was succeeded by his son, J. R. Beggs. The Beggs family was responsible for the first 54 years of the Bank’s life. In 1957, Thomas Monahan obtained controlling interest of the Bank and became Chairman of the Board of Directors. In 1973, Tom’s son, Joseph M. Monahan, was appointed president of the Bank. Much of the Bank’s growth can be attributed to the leadership of the Monahan family. A new bank facility located at 127 South Oak Street was built in 1969 with an addition following in 1979.
On June 7, 1991, the Bank completed the acquisition of the First Federal Bank of Tuscola giving the Bank a second location and a new market. Then in March of 1996, a third facility and market were added when the Bank acquired the Arthur Community Bank. In September of 2011, the Bank received regulatory approval to convert its charter from a national banking association to a state banking organization. The change was made to better fit the needs of the Bank and had little impact to the customer base. As a result of the charter conversion, the Bank was renamed Arcola First Bank.
The Bank currently has assets in excess of $120 million, and customers can transact business at any of the three Central Illinois banking locations.
Technology has made banking easier, faster and more convenient. But value remains in personal relationships and in knowing that your bank offers the experience of serving families and businesses in your community since 1874. Yesterday, Today, Tomorrow and for generations to come. Arcola First Bank maintains the commitment first made all those years ago, to build relationships and provide financial solutions for the individuals, businesses and communities we serve.
Arcola First Bank is proud to serve the people of Douglas County and is proud to be YOUR community bank!
ARCOLA FIRST BANK
Communities
We are a community bank, with community values. Our employees are your friends and neighbors, which is why we are so passionate about being involved in the communities that we serve. We are proud to give back to our communities by providing solutions in the following ways:
- Financial contributions and guidance
- Energetic and committed volunteers
- Leaders to advocate for business and sustainability practices within our communities
Our associates make a difference. From coaching little league to offering financial tools and advice, we give dollars and countless volunteer hours annually to the places we call home.
Putting our values in action and making a difference every day – Every Person Matters!
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ARCOLA FIRST BANK
Our Mission Statement and Vision
At Arcola First Bank, “Every Person Matters” means helping our customers, energizing our employees, respecting our shareholders, and serving the communities we call home. What it means to deliver on our mission statement is based on our three pillars:
Customers: Our mission is to deliver outstanding customer service while building lasting customer relationships, helping customers achieve their financial goals.
Employees: To enrich the lives of our employees by providing a productive learning and working environment that encourages professional development, personal growth, and community engagement.
Shareholders: To be responsive to our shareholders by maintaining a strong capital position and financial statement as a locally owned community bank with an emphasis on bank safety and soundness.
Fulfillment of our mission will facilitate profitable bank growth, increase value to our stockholders, and provide desirable and rewarding employment.
We are responsible for preserving more than 150 years of our community bank legacy—a legacy of associate excellence, outstanding customer service, community involvement and expanding shareholder value.
ARCOLA FIRST BANK
Core Values
Since we first opened our doors over 150 years ago, our Core Values have remained the same.
- We believe that a “Best” Service-Orientation is essential, we should exceed the customer service expectation of our clients.
- We believe that positive customer relationships are paramount to success.
- We believe that Team Members should be positive and upbeat to create a positive workplace environment and one in which customers want to do business.
- We believe that developing and retaining multi-faceted, profitable relationships is the key to the achievement of our corporate objectives.
- We believe that Empowerment is the freedom, responsibility and authority to act in the best interest of the Bank.
- We believe that retention and attraction of top-quality employees is critical.
- We believe that work should be enjoyable, gratifying and rewarding for all employees.
- We believe in giving back to the communities we serve.
We believe that building strong customer relationships is the result of knowing our customers. We realize the trust that you place in your bank, and we look forward to the opportunity to show you the value behind our name!