Prairie State Bank & Trust

What Prairie State Bank & Trust does

Prairie State Bank & Trust is a privately held community bank founded in 1968, operating as a subsidiary of American Central Bancorp, Inc. The bank delivers retail and commercial banking services across Central Illinois, with 17 branch locations spanning Springfield (headquarters), Bloomington, Decatur, Charleston, Jacksonville, Mattoon, and multiple smaller communities, plus a recently opened Quincy location extending its footprint into Western Illinois. Its product set covers personal banking (checking, savings, CDs/IRAs, credit cards, mortgages, consumer loans), business banking (deposit accounts, business lending, ag services, business credit cards), and a dedicated Mortgage Loan Center staffed by regional lenders covering fixed-rate, conventional, FHA, VA, construction-to-permanent, and home equity products. Differentiated retail offerings include Bank Anywhere Checking with 32,000+ surcharge-free ATM access, Voyagers Checking for customers aged 50+, a Young Savers Club, Health Savings Accounts, and a Change-It-Up round-up savings program.

The bank runs on standard community-bank technology infrastructure: a CSI Web-based digital banking platform (branded PSB-T) available on iOS and Android, online account opening, remote deposit capture, mobile deposits, bill pay, and third-party integrations for credit card servicing (ezcardinfo), mortgage origination, and Deluxe check ordering. There is no disclosed proprietary technology, AI/ML capability, or custom platform; technology serves as delivery infrastructure rather than a differentiator.

Prairie State Bank & Trust makes money primarily through net interest income on its deposit and loan book (consumer, mortgage, commercial, agricultural), supplemented by fee income from interchange, mortgage origination, gift cards, treasury/cash management, and safe deposit services. Its go-to-market is a hybrid direct-to-consumer community banking model: physical branch relationship banking as the bottom-of-funnel conversion channel, supplemented by digital self-service (online and mobile banking) and community engagement (e.g., Founders Club launch event in Quincy). Customer segments are horizontal—personal banking customers, small/mid-market businesses, and agricultural operators across Central and Western Illinois—with no disclosed large-anchor institutional clients, implying a low-concentration, long-tail revenue base.

Name

Prairie State Bank & Trust

Legal name

American Central Bancorp, Inc.

Website

https://psbank.net

Company type

Private

Founded year

1968

Operating status

Operating

Headcount range

101–250 employees

Short description

Prairie State Bank & Trust is a privately held community bank founded in 1968 under American Central Bancorp, Inc., serving personal, business, and agricultural customers across 17 branches in Central and Western Illinois with deposits, lending, mortgages, and digital banking.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Depository Credit Intermediation (5221), Commercial Banking (52211), Commercial Banking (522110)

SIC

National Commercial Banks (6021), State Commercial Banks (6022), Functions Related To Depository Banking, Nec (6099)

akta.pro primary industry

Mutual Savings Banks & Mutual Thrifts (FSABAEAD)

akta.pro secondary industry

Agricultural & Rural Cooperatives (Farm Credit/Co-op Banks) (FSABAEAG)

Keywords

• Community banking services
• Personal banking accounts
• Business lending solutions
• Agricultural banking services
• Residential mortgage lending

Headquarters

HQ city

Bloomington

HQ country

United States

HQ region

North America

Offices17 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Personal Banking Services: Deposit accounts (checking, savings), credit cards, mortgages, and consumer loans for personal customers.
2. Business Banking Services: Business deposit accounts, business lending, business services, credit cards, and agricultural services for commercial customers.
3. Mortgages: Residential mortgage products including fixed rate, conventional, FHA, VA, and construction-to-permanent loans originated through the bank's mortgage center.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Prairie State Bank & Trust is a community bank that provides personal banking products (checking, savings, CDs/IRAs, mortgages, consumer loans, credit cards, trust services), business banking products (deposit accounts, business lending, ag services, business credit cards), and digital banking through online and mobile channels. The bank serves individuals, small and mid-sized businesses, and agricultural operations across 17 branch locations in Central and Western Illinois.

Product overview

Prairie State Bank & Trust is a community bank offering a comprehensive suite of personal and business banking products. The core offerings include personal and business checking/savings accounts, mortgage lending, and business services. Digital banking is enabled through online and mobile platforms (iOS and Android apps). The bank operates branch locations across Central Illinois and has recently expanded into Western Illinois (Quincy). Products are organized into personal banking (checking, savings, mortgages, loans, CDs/IRAs, credit cards), business banking (deposit accounts, business lending, agricultural services), and mortgage products. The bank also offers specialized accounts such as Health Savings Accounts, Young Savers Club for minors, and a Change-It-Up rounding savings program.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Banking Comprehensive personal banking services including checking accounts, savings accounts, mortgages, consumer loans, CDs/IRAs, credit cards, and financial/trust services for individual consumers.
• Business Banking

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Busey Bank: Illinois-headquartered community bank offering personal, business, and agricultural banking across Central Illinois with similar branch footprint and ag lending exposure, making it the closest direct comparable to PSB&T.
• Heartland Bank (Heartland BancCorp): Community bank serving Central Illinois with personal/business banking and ag lending — overlapping footprint with PSB&T in Bloomington and surrounding markets.
• First Mid-Illinois Bancshares (First Mid Bank & Trust): Central Illinois community bank offering comparable personal, business, mortgage, and ag banking products with a similar multi-branch distribution model.
• INB (Illinois National Bank): Springfield, Illinois-based community bank with personal and business banking, mortgages, and treasury services — directly competing with PSB&T in its headquarters market.
• Town & Country Bank (Heartland Financial USA / Dubuque Bank and Trust affiliate): Illinois community bank serving Springfield, Decatur, Bloomington, and other Central Illinois cities — substantial branch overlap with PSB&T's footprint.
• Bank of Springfield (BOS Financial): Springfield-headquartered community bank offering consumer and commercial banking with strong local presence in the same Illinois markets as PSB&T.
• Banterra Bank: Regional community bank in Illinois and neighboring states with personal, business, and ag banking — overlapping customer segments and product mix.

Broad incumbents

• Old National Bank: Large super-regional bank with significant Illinois branch presence offering the full suite of retail, commercial, mortgage, and wealth services — a scaled competitor to PSB&T across Central Illinois.
• State Farm Bank: Bloomington, Illinois-based large retail bank with national digital footprint and direct deposit/loan products competing for the same consumer base as PSB&T.

Emerging players

• Farm Credit Illinois: Agricultural lending cooperative serving Illinois farmers — a specialized competitor for the ag lending segment that PSB&T targets with its Ag Services line.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/PSBank.net
• LinkedInlinkedin.com/company/prairie-state-bank-&-trust

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Prairie State Bank & Trust