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Brown County State Bank

101 East Main Street

P.O. Box 32
Mt. Sterling, IL 62353
Phone: (217) 773-3327
Fax: (217) 773-2241
Financial Connection: (217) 773-2635
BROWN COUNTY STATE BANK

Golden State Bank, A division of Brown County State Bank
321 Quincy Street

P.O. Box 216

Golden, IL 62339
Phone: (217) 696-4423

Brief History of Brown County State Bank

The original meeting of the stockholders of the proposed Brown County State Bank was held Wednesday, July 31, 1901, at the bank of Bloomfield, Skiles and Co. in Mt. Sterling. The stockholders were: J. E. Allison, William Bloomfield, Alex Bailey, Alex Brockman, Job Dixon, Mamie B. Fry, Allen R. Fry, John Q. Fry, George D. Givens, W. T. Hersman, George J. Hersman, R. V. Hurdle, G. T. Jenning, John Kerr, Andrew Long, J. D. Milstead, Julius Mobley, Joseph M. Merservy, Frank Mills, Lucy B. McMillen, George W. McCoy, Henry Oaks, S. H. Petefish, L. A. Petefish, William Parker, Malinda L. Perry, George C. O'Neil, W. B. Rigg, W. M. Reid, Virginia O. Skiles, Matt Yaple, and Jacob Zimmerman.

The following officers where chosen: William T. Hersman, president; Wilson M. Reid, vice president; J.D. Milstead, cashier; J.E. Allison, assistant cashier; and directors W.T. Hersman, W.M. Reid, William Bloomfield, George D. Givens, George McCoy, W. B. Rigg, and S. H. Petefish. The first bylaws were adopted on August 27, 1901, and the deposits of the Bloomfield, Skiles and Co. at the time of the sale to the new bank were approximately $50,000. Brown County State Bank of Mt. Sterling was officially incorporated on September 3, 1901, and the private bank was dissolved.

Presidents of the Brown County State Bank and their tenures include: William T. Hersman, 1901-1913; J. E. Allison, 1914-1928; George J Hersman, 1929-1933; Fred Aber, 1934-1948; Charles A. Reid, 1948-1957; D. G. Gordley, 1957-1960; Maurice L. Quinn, 1960-1970; George A. McCoy, 1971-1985; Stephen T. Quinn, 1985-present.

Brown County State Bank came through the Great Depression in excellent condition and was authorzied to reopen during the banking holidays of 1933 within three weeks. All depositors received 100% of their deposits when called for, without any type of temporary waiver or waiting period.

Certainly many things have changed since Brown County State Bank was founded in 1901. In the early days, accounts were maintained on handwritten ledgers and all calculations were done manually. Over the years, mechanical adding machines and posting machines were developed to reduce the drudgery of manual process. Today, computer technology allows bank employees to process more tranactions and provide a much larger variety of products and services than bankers in 1901 would have dreamed possible. The one thing that has not changed in the 100 years, however, is our commitment to serving the financial needs of Brown County and the surrounding area. Thank you for allowing us to serve you since 1901!

Special appreciation is extended to Eileen Renaker of the Brown County Historical Society for compiling information for this web site

 

 

 


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