 100th Year Anniversary! About
TrustBank |
|
TrustBank History
TrustBank
was formed on September 13, 1912. Originally called Olney Trust & Banking
Company, the bank has had two name changes, 10 presidents and much
growth since first opening for business.
| When the bank was organized in 1912, George A. McGahey was named
the president. The first bookkeeper was Lura Bailey and Cashier
was James P. Wilson. |
 |
According to an article in The Olney Times from June 1913, "When
it was learned that Mr. George A. McGahey was to be president and
James P. Wilson cashier, the stock was oversubscribed in a few
days."The bank opened with an operating capital of $50,000
and a surplus of $12,000.The bank had a five-person board of directors.
In addition to McGahey, T.A. Fritchey served as Vice-President,
and L.V. Chesrown, Henry Gassmann and Joseph Weiler were directors.
The first building, located on the corner of Whittle Avenue and
Market Street in Olney Illinois, was dedicated on June 16, 1913.
The two-story stone, steel and concrete building was constructed
at a cost of $25,000. The interior, made of marble and mahogany,
was decorated by James T. Cummins. Interest-bearing passbook savings
accounts were first available in Olney through the Olney Trust & Banking
Co.
McGahey served as president until his death in 1925, at which time
Wilson became president. Wilson was bank president for 33 years.
After Wilson's death in 1958, L.C. Blackburn took over the office.
He retired in 1965 and was succeeded by A.A. Korn. Korn's death
in 1967 brought another Blackburn to the office of president. Robert
L. Blackburn held the position of president until his death in
1972. It was in that year that Olney Trust & Banking Co. constructed
a new building at 600 E. Main Street, the same property where the
Olney Sanitarium had been built in 1898, followed by the construction
of Weber Medical Clinic. The main street branch, still home to
the bank, has been remodeled twice since its construction in 1972.
| Zean Gassmann followed as president after the death of Blackburn
and served until the end of the year, when Lawrence J. Weber Sr.
took the position. It was during Weber's presidency that the holding
company formed and the name was shortened from Olney Trust & Banking
Company to Olney Trust Bank. After Weber resigned in 1989, Lonnie
G. Doan served as interim president until 1990 when John S. Zdychnec
started serving in the position. In 1996, Bruce A. Runyon became
president and continues in the office. |
 |
In 1999, Olney Trust Bank purchased Cisne State Bank located in
Cisne Illinois. Often times we were referred to as “The Trust
Bank”. With the purchase of Cisne State Bank, it was a logical
progression to shorten the bank’s name to TrustBank. We have
trademarked that name. In 2006, TrustBank purchased a branch of Bank of the Southwest, located in Arizona.
At TrustBank, we have a clear focus on the type of bank we are
and who we can best serve. We have built the bank around our commitment
to superior service. The three areas of the market we target—area
businesses, professionals, and those individuals who want a higher
level of service—demand a bank that puts its customers first.
It has been our pleasure serving you for 100 years!!!
 For more vintage Olney, IL pictures, click here!
|
