ROANOKE – Another entity has popped up in the downtown business district, as Goodfield State Bank opened a branch July 8 in the former Prairie Capital Management office at 320 N. Main St.
According to President and Chief Executive Officer Chad Martin, they had been pondering the possibility of expanding into town.
“I’d say we’d been looking at the Roanoke market for several years,” he commented. “It’s something we had considered.”
GSB had pondered a move into the former Commerce Bank on the west side, but they declined due to the latter’s philosophy of not selling to another financial institution.
“We like being downtown. We’ve seen plenty of interest,” pointed out Vice President and Loan Officer Matt Sauder. “For now, we like the downtown location.”
According to Martin, they were able to take advantage of Commerce’s exit.
“We’re excited to be in town. As one of the bigger banks is pulling out of the market, we see it as an opportunity,” he stated.
According to Sauder, there will be a staff of three to four employees.
“We’ll have two lenders who are splitting time. They’ll be a lender in there every day,” he noted. “We’re a full-service bank. One thing we did not want to do is go into Roanoke and not have somebody who can make lending decisions.”
Sauder and fellow VP/loan officer Aaron Householter will be the two lenders
In addition, the local branch will have an automated teller (ATM) machine someplace in town and, eventually, a drive-thru.
The branch will also offer investment services through financial consultant Jeff Schumacher.
GSB was incorporated in December of 1920. In August of 2001, they opened their present location at the intersection of U.S. Route 150 and Illinois Route 117 in Goodfield.
They are one of the few independent financial institutions still in existence.
“It’s our identity. It’s that identity we’re proudly held,” said Martin. “You can drive around to the other banks in Woodford County, but we’re the only one with its original charter.”
This will be the third GSB branch in the county. One opened in Eureka in ‘07 and another six years later in Metamora.
While no new branches will be popping up in the short term, that could change somewhere down the line.
“We’ll continue to expand inside Woodford County or beyond the county line,” offered Martin.
GSB is next door to Axline Pharmacy, which opened Aug. 1 of ‘18. The former will host an open house this Friday from 11 a.m. to 7 p.m., which will include free food and other events. The highlight will be a drawing where the grand prize winner receives $1,000 in cash.
Notes: The bank’s hours are 8 a.m. to 5 p.m. Monday through Friday and 8 a.m. to noon on Saturday. Their phone number is (309) 923-9189.