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. Commins. 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 Tempe 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.

Assets
TrustBank is a wholly owned subsidiary of Rich Land Bancorp, Inc., a one-bank holding company. As of September 30, 2008, total assets were $157 million, with capital of $17.5 million.

Who We Serve
We serve the Southeastern Illinois counties of Richland and Wayne with three financial centers: two in Olney, Illinois and one in Cisne, Illinois. We also serve the counties of Maricopa and Pinal in Arizona via a branch office located in Tempe. In addition to the traditional full-service branch network, TrustBank offers banking by phone and via the internet to reach beyond these physical locations. Our service delivery system is designed to make banking more convenient - from home, work, or wherever you travel.

Using Technology to Benefit the Customer
We continue to redefine customer convenience through the use of technology and creative approaches in our delivery of banking services.

Community Commitment
We are deeply committed to the communities where we do business. Our employees are actively involved in community organizations and we provide financial and in-kind support to organizations that help area communities to be a better place to live and do business. We are committed to doing our part to create a vibrant local economy in markets where we do business by providing business and consumer loans and credit lines whenever possible.

TrustBank™ – the only bank you’ll ever need.

>Back to About TrustBank Home