Bill > HR0240

This resolution congratulates The Peoples State Bank of Newton on its 150th anniversary (sesquicentennial), highlighting the bank's long and significant history in Jasper County, Illinois. Originally established in 1875 with $100,000 in capital stock, the bank survived the Great Depression and has experienced substantial growth over the decades, expanding from its initial location to multiple branch locations across South Central Illinois. The resolution traces the bank's development, including key milestones such as adding drive-in facilities in 1961, expanding its physical premises in the late 1960s, and growing its total assets from $15.8 million in 1970 to over $700 million by 2024. The document emphasizes the bank's commitment to local communities by redirecting its earnings back into the regions it serves and positioning itself as a locally owned financial institution. The Illinois House of Representatives formally recognizes the bank's achievements and commits to delivering a copy of the resolution to The Peoples State Bank as a gesture of respect and acknowledgment of its significant contribution to the local economy.

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=240&GAID=18&DocTypeID=HR&SessionID=114&GA=104