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Tazwell County Resource Center
Distance: 100.8 Mi
61554 Pekin
Description
In 1946, a group of Quincy businessmen decided to establish a new bank on Quincy’s North side. This new bank’s mission was to provide quality banking services to residents in the area. By 1953, the bank was doing well and received trust powers to broaden its commitment of service. Like most trust departments, it provided traditional trust services for estate settlement and trust established by a will or other agreements. In 1989, the bank saw an opportunity to expand its trust services by serving as trustee for Employee Stock Ownership Plans. In that year and several years to follow, the mutual savings institutions were converting to stock based banks and thrifts. As part of those conversions, ESOP’s were established to provide the institution’s employees with ownership in the new organization. In 1993, the trust department managed over $50 million in personal trust and employee benefit assets. On July 1, 2004, the trust department became a separate company, First Bankers Trust Services, Inc. This new company is owned by First Bankers Trustshares, Inc., the parent company of the bank, First Bankers Trust Company, N.A. Today, using our past experiences and with an eye toward the future, we have grown the trust services to over $1.2 billion in assets under management by expanding our personal trust, IRA, and employee benefit account administration. We now offer to our clients more options, including 401(k) investment platforms, and deferred compensation trust arrangements that are tailored to your needs.