United Prairie Bank history

One year later, on January 31, 1821, due partly to the impetus of Ross, Pike County was officially formed.

As a captain of the "First Rifles" Company, Ross was one of the first to willingly shoulder the responsibility of assembling the required quota of men from Pike County to serve in the Blackhawk War of 1832.

The time was 1833 and settlers had been pouring into Pike County.

Although political conditions were unstable and banking laws unsound, in 1854 he established Pike County's first real bank in Pittsfield, known as "Ross and Co." It was initially a success, but conditions worsened as threats of Southern secession progressed.

In February of 1864, Congress had enacted the National Banking Act and President Lincoln, the lanky youth of Colonel Ross' military past, signed the law into effect.

Earl Shriver Grigsby was born November 28, 1887 in Pittsfield, Illinois.

Pike County Democrat, December 20, 1888

Pike County Democrat, January 31, 1889

The first year of business was successful and the bank enjoyed a $1,614.07 profit! On June 13, 1891 the Pittsfield Bank’s name was changed to Farmers State Bank, the first bank in Illinois to be known as Farmers State Bank.

His father-in-law, John Hull, Sr., served as a director and vice president until 1895.

In 1904, fourteen stockholders organized Farmers National Bank with a $25,000 capital investment and opened its doors at 115 Shelbyville Street, Center, Texas.

He started working at the Bank on October 1, 1908, and worked continuously to the day of his death.

In 1909, F.L. Berry and John Wiley founded The Farmers Bank.

The Farmers State Bank and Trust Company was organized in 1910 under a charter issued by the State of Illinois.

Upon subscribing the necessary capital, a group of prominent businessmen and farmers in the Morgan County Community officially opened the bank for business on January 4, 1911.

When it opened its doors in November of 1915, it boasted 40 stockholders and at the end of the first day’s business, resources of over $35,000.

Ross Matthews served continuously as director, cashier and eventually president of the bank until he retired in 1918.

United Prairie Bank was founded on July 21, 1919 and has been serving the financial needs of their customers for over 101 years.

Trust powers were granted to the bank on July 15, 1927, and, ever since, an active trust department has served the needs of the Pittsfield community.

Over the next 13 years, the bank’s resources grew steadily, and in 1928, totaled over a quarter of a million dollars.

In 1931, the Owsley County community began the rebuilding process after the Great Depression.

Bank failures were common throughout the nation, and by March of 1933, the crises had become so acute that President Franklin D. Roosevelt’s very first official act as President was to close every bank in the nation for evaluation and classification.

Public confidence in Farmers State Bank was so strong that in 1934 a group of interested citizens asked to bring a bank to LaGrange and maintain the Stroh office as a branch.

In 1937, the Topeka office opened followed by the Wolcottville office a year later.

His wife, Bessie (Bahl) McBride, worked for Farmers State Bank for 65 years before retiring in 1975.

In 1976, the Bank opened a Full-Service Branch on West Morton Road in Jacksonville.

In 1978, the total assets reached $50 million and then doubled to $100 million over the next 12 years.

In 1981, due to the increasing need for more room and better technology, FSB built a new bank building beside the old building which was left vacant.

In 1989, Farmers State Bank opened a branch in Howe and two years later, one in Shipshewana.

In 1991, a one bank holding company, Community Independent Bancorp, Inc, was formed, and The Farmers State Bank of West Salem became Farmers State Bank (FSB) at that time.

In 1995, the assets doubled again to $200 million.

United Prairie was formed in 1996, when Unity Grain and Grand Prairie Cooperative combined their crop production divisions in order to serve their customers more efficiently.

Extensive remodeling was done at the West Salem location in 1998 to better utilize available space, and the main entrance was moved from the front of the building to the side where a new lobby area continues to greet customers.

In 2002, the bank decided to invest money in remodeling the old building and making it a working facility.

A Sturgis, Michigan branch was opened in 2003.

FSB acquired the banking business of The First National Bank of Fremont in 2005.

The most recent branch opening was in Millersburg, in 2008.

Then in 2009, Grand Prairie Cooperative merged with Jamaica Farmers Elevator and Fisher Farmers Grain & Coal to form Premier Cooperative.

In 2015, CHS Cooperative invested their central Illinois assets and became part of the ownership group.

Danvers Farmers Elevator also invested in 2017.

© 2021 Farmers State Bank.