OUR HISTORY

    On July 3, 1980, The First National Bank of Murphysboro received a charter from the State of Illinois Commissioner of Banks and Trust Companies.  For the previous ninety-one years, the bank operated under a national charter.  This change in charters necessitated a change in the name of the bank.  Thus, it became The First Bank and Trust Company of Murphysboro.

    While the name was changed, the bank itself has remained true to the goals, hopes, and aspirations of its founders, that is, to provide the best banking service possible while promoting safety for depositors and stockholders.

    The first Board of Directors and officers were elected at a meeting of the stockholders held April 19, 1889, in the office of Mr. Thomas M. Logan on the north side of the square in Murphysboro.

 

The Directors elected were as follows:

George Kennedy, Sr.
Thomas M. Logan
William Murphy
George W. Parker
Joseph VanCloostere
George W. Wall
Willard Wall

The Officers elected were as follows:

William K. Murphy, President
Joseph VanCloostere, Vice President
Willard Wall, Cashier

 

    On April 25, 1889, Mr. Murphy opened an account with the Central-Hanover Bank and Trust Company of New York, with a deposit of $50,000.00, being full payment of the total amount of capital stock subscribed.  The Comptroller of the Currency was notified of the deposit and, pursuant to law, issued a charter for these men to conduct a business of banking.

    The First National Bank of Murphysboro opened its doors for business on the 13th day of May 1889.  The Jackson County Bank, a private institution owned by Medar Lucier and Joseph VanCloostere, was purchased.  The First National Bank occupied their quarters, on the south side of the square, until 1891 when its new building was completed in connection with the Logan House.  In the organization of this bank, William K. Murphy of Pinckneyville was particularly prominent.  With him were associated George Kennedy, Sr., Thomas M. Logan, Joseph VanCloostere, E.A. Wells, G.H.C. Bodeker, C.H. Sundmacher of Murphysboro, George W. Parker of St. Louis, George W. Wall, and Willard Wall, of DuQuoin; all of the above signed the original application for the bank’s charter.  Mr. Murphy gave a great deal of his time to the active management of the bank until his health began to fail in the early years of 1900.  He resigned the Presidency in 1907.
 
    The Murphysboro Savings Bank, organized under state laws in 1883, was principally owned by the stockholders of the First National Bank.  It was organized for the purpose of making loans on real estate which national banks, at that time, could not do.
 
    In 1889, the population of Murphysboro was 3,750 and the assets of the First National Bank of Murphysboro, on its opening day, were $69,547.28.  Today, the population is about 13,295 and the bank’s assets are about $56,000,000.00.
 
    The bank’s first charter expired in 1909 and was renewed for a second twenty-year period in accordance with the laws prescribed by the National Banking Act.

    Wars, booms, depressions and disasters have come and gone in the over 100 years since 1889.  The terrible tornado of March 18, 1925 changed the life and industry of many of the citizens of Murphysboro because of its toll in life and property.  Its total destruction of many homes and business places brought an unusual responsibility to the financial institutions of the city.  The First National Bank and its affiliate, Murphysboro Savings Bank, cooperated in every way to re-build our community.
 

    Many homes and businesses were made possible by the assistance of these two institutions.

    In short, The First National Bank has met every test of stability with uninterrupted success because it has held fast to the conservative policies laid down by its founders.