Peoples Bank & Trust

What Peoples Bank & Trust does

Peoples Bank & Trust is an FDIC-insured, privately-held community bank headquartered in Pana, Illinois, founded in 1953 and operating 13+ branches across Central Illinois communities including Altamont, Arcola, Arthur, Charleston, Morrisonville, Palmyra, Springfield, Taylorville, Tower Hill, Tuscola, Waverly, and White Hall. The bank serves four primary customer segments — individual consumers, business owners, agricultural producers, and municipalities — through a relationship-based model featuring dedicated consumer bankers and business bankers with local decision-making authority. Its core product set spans consumer checking, savings, CDs, IRAs, consumer loans and mortgages (including a Downpayment Plus assistance program), business checking and cash management, agricultural lending (seasonal operating, capital asset, and real estate loans), municipal banking, wealth management and trust services, debit and credit cards, ATM Plus machines with live video banker support, remote deposit capture, merchant services, and ACH origination. Underlying technology is standard community bank infrastructure: Bank PBT Online platform, a mobile banking app with 256-bit encryption, ATM Plus hardware with tap-to-connect and live CSR banker video, and remote deposit capture — with no disclosed AI/ML capabilities or proprietary technology platforms.

The bank's revenue model is built on traditional community banking mechanics: net interest income from consumer, business, agricultural, and mortgage lending; deposit account service charges (tiered checking accounts with monthly fees ranging from $0.94 to $14.22, plus per-item and balance-based charges); overdraft fees ($34.97 per NSF item with daily cap of $244.79); transaction-based merchant services revenue via Elavon; wealth management referral economics through Wintrust Investments and LPL Financial; and recently launched credit card economics through Elan Financial Services. Pricing is publicly disclosed in downloadable PDF fee schedules, with loan and CD rates quoted on a contact-the-banker basis. Distribution is primarily through the branch network and dedicated bankers (relationship-led GTM) supplemented by direct-to-consumer online and mobile channels. Strategic posture is measured community bank growth: a pending merger with Arcola First Bank announced in January 2024, a credit card product launch in March 2026, deep agricultural lending expertise (one of 11 USDA-AFSA preferred lenders in Illinois with 270+ years of combined ag team experience), and SBA Express & Export Express Lender status.

Name

Peoples Bank & Trust

Legal name

Peoples Bank & Trust

Website

https://bankpbt.com

Company type

Private

Founded year

1953

Operating status

Operating

Headcount range

11–50 employees

Short description

Peoples Bank & Trust is a privately-held, FDIC-insured community bank founded in 1953, headquartered in Pana, Illinois, operating 13+ branches across Central Illinois to serve consumers, small businesses, agricultural producers, and municipalities with deposit, lending, cash management, and wealth management products.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

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

SIC

State Commercial Banks (6022)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industry

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)

Keywords

• Community banking services
• Agricultural lending
• Municipal banking services
• Consumer deposit accounts
• Small business lending

Headquarters

HQ city

Pana

HQ country

United States

HQ region

North America

Offices13 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Consumer Banking: Traditional consumer banking services including checking accounts, savings accounts, CDs, IRAs, personal loans, mortgages, home equity lines of credit, and debit cards. Revenue generated through interest income on loans, account fees, and ATM charges.
2. Business Banking: Commercial banking services including business checking, money market accounts, business loans, agricultural loans, municipal banking, cash management, merchant services, and ACH origination. Revenue from interest income, transaction fees, and cash management service charges.
3. Wealth Management and Trust Services: Investment services through partnership with Wintrust Investments (LPL Financial), plus full-service trust department including living trusts, testamentary trusts, guardianships, memorial/scholarship trusts, land trusts, and estate executor services.
4. Credit Card Services: New credit card services for both personal and business customers, offered in partnership with Elan Financial Services, providing payment flexibility and enhanced purchasing power.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

Peoples Bank & Trust is a community bank offering consumer banking (checking, savings, CDs, IRAs, personal loans, mortgages, home equity, debit cards) and business banking (business checking, agricultural loans, municipal banking, cash management, merchant services, ACH origination, credit cards). It also provides wealth management and trust services through Wintrust Investments/LPL Financial, with delivery through 13+ branches, ATM Plus machines with live banker video, and online/mobile banking platforms.

Product overview

Peoples Bank & Trust is a community bank offering a comprehensive suite of banking products and services through two main divisions: Consumer Banking Services and Business Banking Services. The consumer banking arm provides checking accounts (Value Checking, Smart Checking, Peoples Club Account, Elite Money Market), savings accounts, CDs & IRAs, consumer loans and mortgages including the Downpayment Plus assistance program. The business banking division offers business checking, business loans, agricultural loans, municipal banking, and wealth management services through partnerships with Wintrust Investments and LPL Financial. Digital banking is supported through online and mobile banking platforms with 256-bit encryption. Additional products include debit and credit cards (issued through Visa/Elan Financial Services), ATM Plus enhanced machines, merchant services via Elavon, ACH origination, remote deposit, and Bounce Protection overdraft services. The bank has over 270 years of agricultural lending experience and serves multiple communities across Illinois.

Differentiator

Problem solved

Functional benefit

Products and services

• Consumer Banking Services Personal banking services including checking accounts, savings accounts, loans, retirement funds, home loans, and debit cards with dedicated consumer bankers providing personalized service for individual customers.
• Business Banking Services Business banking products including checking, savings, cash management, loans, agricultural lending, municipal banking, and deposit products tailored to business needs, with dedicated business bankers.
• Consumer Checking Accounts Multiple consumer checking account options including Value Checking, Smart Checking, Peoples Club Account, and Elite Money Market with various features, minimum balances, and fee structures for different life stages and balances.
• Consumer Savings Accounts Savings products including Target Savings, Building Blocks Savings, and Health Savings Accounts with various features and minimum balance requirements for individual customers.
• Certificates of Deposit (CDs) and IRAs FDIC-insured certificate of deposit products including standard CDs (30 days to 5 years), Easy Builder CDs, Roth IRA CDs, Traditional IRA CDs, and Easy Builder IRA certificates with various terms and tax benefits.
• Consumer Loans and Mortgages Personal loans for vehicles, motorcycles, boats, and recreational vehicles; fixed-rate secondary market residential mortgages; in-house adjustable rate mortgages; home equity lines of credit; second mortgage loans; certificate of deposit loans; and Peoples Cash Line of Credit.
• Downpayment Plus Down payment and closing cost assistance program for income-eligible homebuyers, providing forgivable grants up to $10,000 or 25% of the first mortgage amount, with a minimum $1,000 personal-fund contribution.
• Business Loans Business financing options including operating lines of credit, capital asset loans, construction and real estate loans, SBA/USDA government loan programs, and Express & Export Express Lender services through SBA.
• Agricultural Loans Specialized agricultural lending with over 270 years of combined team experience, including seasonal operating loans, capital asset loans, real estate loans, and USDA-FSA and IFA loan programs. One of 11 USDA-AFSA preferred lenders in Illinois.
• Municipal Banking Banking services for government institutions featuring negotiated interest rates, insured deposits, security repurchase agreements, ACH origination for payroll and municipal billing, remote deposit, tax anticipation warrants, and municipal leasing.
• Wealth Management and Trust Services Comprehensive wealth management through Wintrust Investments offering advisory services, retirement planning, estate planning, trust administration, and portfolio management. Trust services include living trusts, testamentary trusts, guardianships, memorial/scholarship trusts, land trusts, and executor services.
• Online and Mobile Banking Digital banking services enabling customers to access accounts, check balances, transfer funds, pay bills, view statements, set balance alerts, and make loan payments through computers and mobile devices with 256-bit encryption security.
• Debit Cards Visa debit cards allowing purchases directly from checking accounts with fraud protection, purchase alerts through Visa, and mobile wallet compatibility including Apple Pay and Google Pay.
• Credit Cards Personal and business credit cards issued through Elan Financial Services offering various options including low rate, cash back, or flexible rewards, with features including free online expense reporting, no-fee employee cards, mobile payments, and zero fraud liability.
• ATM Plus Enhanced ATM machines with expanded capabilities allowing deposits, withdrawals, loan payments, fund transfers, and balance inquiries with 24/7 availability, plus live CSR Plus banker assistance during extended hours (M-F 7a-7p, Sat. 8a-2p).
• Merchant Services Payment acceptance solutions through Elavon including in-person, online, and mobile payment solutions, smart terminals, chip card/EMV terminals, tablet POS systems, ecommerce solutions, loyalty and gift card programs, mobile wallet acceptance, and next-day business funding.
• ACH Origination Cash management service enabling businesses to generate ACH transactions online including direct deposit payroll, accounts receivable collection, state and federal tax payments, trade creditor payments, and cash concentration.
• Remote Deposit Electronic payment processing allowing businesses to deposit checks remotely without visiting the bank, capturing money orders, consumer checks, cashier's checks, and corporate checks electronically for faster clearing.
• Bounce Protection Overdraft privilege automatically assigned to eligible accounts without requiring a signature, covering overdrafts up to assigned limits with fees of $34.97 per debit item and daily overdraft fees of $8.04 beginning on the third business day overdrawn.

Quantifiable outcome

• Extended banking hours available through ATM Plus machines (M-F 7a-7p, Sat. 8a-2p)
• +2 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature4 records

Partnerships

Seven partnerships are on record, tiered core.

• Arcola First BankcoreStrategic or Co-development Partner · 3 January 2024Arcola First Bank announced merger with Peoples Bank & Trust, pending regulatory approval. Deal expected to close late spring or early summer 2024. Merger aims to enhance service offerings and retain employment for existing staff, focusing on community and customer service.
• Wintrust InvestmentscoreStrategic or Co-development PartnerPeoples Bank & Trust partners with Wintrust Investments to offer comprehensive brokerage and insurance solutions to customers. Financial Advisors provide investment services including advisory services, retirement planning, education savings, estate planning, trust administration, portfolio construction & review, online account access & trading, stocks, bonds, mutual funds, annuities, and life insurance.
• ElavoncoreTechnology or IntegrationMerchant services provided through Elavon, an industry leader for 25 years in payment acceptance. Elavon offers in-person, online and mobile payment solutions, smart terminals, Chip Card/EMV terminals, tablet POS systems, ecommerce solutions, loyalty and gift card programs, mobile wallet payments including Apple Pay and Android Pay, and next day business funding.
• Elan Financial ServicescoreTechnology or IntegrationCredit card issuer and creditor for personal and business Visa credit cards. Provides zero fraud liability protection, mobile purchasing capability, and 24/7 cardmember service.
• USDA Farm Service Agency (FSA)coreTechnology or IntegrationUSDA-FSA loan guarantee programs providing broader lending opportunities for agricultural production, equipment and real estate credit. Peoples Bank & Trust is one of 11 USDA-AFSA preferred lenders headquartered in Illinois.
• Small Business Administration (SBA)coreTechnology or IntegrationSBA loan programs providing financing to new or expanding businesses with attractive rates and terms. Peoples Bank & Trust has Express & Export Express Lender Status with SBA.
• LPL FinancialcoreTechnology or IntegrationRegistered investment advisor and broker-dealer (member FINRA/SIPC) through which Wintrust Investments securities and advisory services are offered. Insurance products offered through LPL or its licensed affiliates.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Morton Community Bank: Morton Community Bank operates a similar community-banking model in Central Illinois with consumer/business banking, ag lending, and municipal banking services targeting overlapping small-town and agricultural customers.
• Bank of Pontiac: Bank of Pontiac is a Livingston County, Illinois community bank offering consumer, ag, and commercial lending plus wealth services through a similar multi-branch model in Central Illinois.
• Heartland Bank (Illinois): Heartland Bank and Trust Company is a community bank serving Central Illinois with similar branch footprint, ag lending focus, and consumer/business banking mix, directly competing with Peoples Bank & Trust for the same customer base.
• State Bank of Lincoln: State Bank of Lincoln is a Logan County, Illinois community bank with overlapping ag, consumer, and business banking services and a similar small-town Central Illinois footprint and product suite.
• Dieterich Bank: Dieterich Bank is an Illinois-based community bank with a comparable ag lending franchise, multi-branch network in rural Central Illinois, and similar mix of consumer/commercial deposits and loans.
• First Mid-Illinois Bank & Trust: First Mid is a community-focused commercial bank headquartered in Mattoon, Illinois, offering ag lending, business banking, and consumer deposits across Central Illinois with comparable product mix and customer segments.
• Petefish Skiles & Company Bank: Petefish Skiles is a long-standing Illinois community bank headquartered in Beardstown with similar consumer, ag, and small business banking offerings and a comparable relationship-based GTM motion in rural Illinois communities.

Regional players

• Illinois National Bank: Illinois National Bank is a Springfield-based community bank offering consumer, business, and ag banking services, serving overlapping Central Illinois markets within Peoples Bank & Trust's branch geography.

Broad incumbents

• JPMorgan Chase (Chase): JPMorgan Chase is a broad incumbent national bank with significant Illinois branch presence, large agribusiness lending unit, and increasingly competitive digital banking capabilities that compete with Peoples Bank & Trust for deposits and consumer primary banking relationships.

Emerging players

• Farm Credit Illinois: Farm Credit Illinois is a Farm Credit System cooperative lender specializing in agricultural credit across Illinois, directly competing with Peoples Bank & Trust's ag lending franchise for farm real estate, operating, and equipment loans.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/peoplesbankandtrustcentralillinois

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles43 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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

M&A1 record

Investments

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

Frequently asked questions about Peoples Bank & Trust