First Bank Arcola

What First Bank Arcola does

First Bank Arcola, operating under the legal name Peoples Bank & Trust, is a locally owned and managed community bank founded in 1874 and headquartered in Arcola, Illinois. The bank operates 13 branch facilities across central Illinois, including locations in Altamont, Arcola, Arthur, Charleston, Morrisonville, Palmyra, Pana, Springfield, Taylorville, Tower Hill, Tuscola, Waverly, and White Hall. Its core product portfolio is divided across four business units: Consumer Banking (checking, savings, CDs/IRAs, consumer loans, mortgages, debit cards, wealth management), Business Banking (checking, savings, deposits, cash management, business loans), Agricultural Banking (specialized loan products for farming operations), and Municipal Banking (services for government entities). The bank operates a "personal banker" model that assigns one dedicated banker to each customer across all product lines.

The bank's revenue mechanics are typical of community banking: net interest income from deposit gathering and loan origination (consumer, mortgage, agricultural, commercial, municipal), supplemented by fee income from wealth management, debit cards, and account services. Distribution is primarily through the 13-branch physical network with supplementary self-service channels including a third-party online banking platform (web5.secureinternetbank.com), mobile banking application, and the ATM Plus network. The Stepping Stones sub-brand provides segmented financial guidance across six life stages, and a subsidiary called Peoples Assistance Company supports community charitable activities. The bank is FDIC-insured, designated as an Equal Housing Lender, and operates under USA Patriot Act compliance frameworks. No public ticker, SEC filings, or institutional investment is referenced; the entity is described as privately held and locally owned.

Name

First Bank Arcola

Legal name

Peoples Bank & Trust

Website

https://arcolafb.com

Company type

Private

Founded year

1874

Operating status

Operating

Headcount range

1–10 employees

Short description

First Bank Arcola (Peoples Bank & Trust) is a locally owned community bank founded in 1874, operating 13 branches across central Illinois and offering consumer, business, agricultural, and municipal banking, plus wealth management and digital banking services.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

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

SIC

State Commercial Banks (6022)

akta.pro primary industry

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

akta.pro secondary industry

Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI)

Keywords

• Community banking
• Consumer banking
• Business banking
• Agricultural lending
• Wealth management

Headquarters

HQ city

Arcola

HQ country

United States

HQ region

North America

Offices13 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Distribution channels4 records

Marketing channels3 records

Core offering

First Bank Arcola (legal name: Peoples Bank & Trust) is a privately held, locally owned community bank founded in 1874 and headquartered in Arcola, Illinois. It provides a full range of consumer and business banking products through 13 branch locations across Illinois, including deposit accounts, loans, mortgages, agricultural financing, municipal banking, and wealth management services, supplemented by online and mobile banking channels.

Product overview

Peoples Bank & Trust offers a unified banking platform providing both consumer and business banking services through a network of 13 physical branch locations. The core product portfolio includes Consumer Banking (checking, savings, CDs/IRAs, loans/mortgages) and Business Banking (deposit products, business loans, agricultural loans, municipal banking). Add-on digital services include Online Banking and Mobile Banking for remote account management. The Stepping Stones sub-brand provides segmented financial guidance across six life stages from students to retirees. Wealth Management services are available for both personal and business customers. All services are delivered through dedicated personal and business bankers with a community banking approach.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Checking Accounts Checking account products designed for individual consumers for everyday transactions and personal banking needs.
• Personal Savings Accounts Savings account products for individual consumers to accumulate and grow personal funds.
• Certificates of Deposit (CDs) Fixed-term deposit products that pay a set interest rate over a specified period, available to individual consumers.
• Individual Retirement Accounts (IRAs) Retirement savings accounts designed to help individuals save for retirement with potential tax advantages.
• Personal Loans Loan products for individual consumers to finance personal expenses and purchases.
• Residential Mortgages Home loan products that finance the purchase of residential real estate for individual homebuyers.
• Business Deposit Accounts Business checking and savings account products for small and mid-sized commercial customers.
• Cash Management Services Cash management tools and services provided to business customers to manage working capital and treasury operations.
• Business Loans Loan products for commercial and small business borrowers to fund operations, expansion, and capital needs.
• Agricultural Loans Specialized loan products for farm operators and agribusinesses, supporting crop production, equipment, livestock, and operational financing needs.
• Municipal Banking Banking services for local municipalities, government units, and public sector entities in the bank's service area.
• Wealth Management Wealth management services provided to individual and family clients to manage savings, investments, and financial planning needs.
• Online and Mobile Banking Online and mobile banking channels that allow consumer and business customers to access accounts, transfer funds, and pay bills digitally.

Segments9 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• FDIC (Federal Deposit Insurance Corporation)coreOthersFDIC-insured bank backed by the full faith and credit of the U.S. Government. This is a regulatory insurance partnership that protects depositors up to the insured limit.

Scale indicators1 record

Recent moves5 records

Expansion highlights2 records

Direct peers

• First Busey Corporation: Illinois-based community bank with similar focus on consumer, business, and agricultural banking across central Illinois communities. Comparable footprint, product suite, and community-banking value proposition.
• Tomkinson Financial / Tompkins Financial Corporation: Community-focused bank operating across multiple branches in the Midwest/Northeast with comparable consumer/business banking product suite and similar size and branch footprint model.
• CNB Financial Corporation: Community-oriented bank offering deposit products, commercial lending, and wealth services comparable to First Bank Arcola's product suite, with comparable scale and multi-branch distribution.
• Inland Bank and Trust: Illinois-headquartered community bank serving suburban Chicago and central Illinois with similar deposit, loan, and wealth management offerings. Closely comparable community-banking peer in terms of geography and product mix.
• S&T Bancorp: Mid-Atlantic community bank offering consumer banking, commercial lending, and wealth management with a relationship-driven branch model comparable to FBA's approach.
• First Mid-Illinois Bancshares: Illinois-based community bank holding company with similar consumer, business, and agricultural lending focus. Directly comparable as a peer community bank operating in overlapping Illinois geographies with a multi-branch relationship-banking model.

Others

• Jack Henry & Associates: Core banking technology and digital banking platform provider serving thousands of U.S. community banks. Directly relevant as the likely technology infrastructure behind FBA's online and mobile banking experience.
• Federated Hermes (community banking adjacency): Wealth and cash management provider serving community bank clients; relevant as a wealth-management ecosystem partner for community bank product suites that include trust and investment advisory services.

Emerging players

• Ally Financial: Digital-first neobank and consumer lender. Relevant as the disruptive competitor threatening community bank deposit and consumer-lending share through technology-led UX and pricing.

Broad incumbents

• Heartland Financial USA / HTLF: Multi-state community bank holding company with strong Midwest franchise. Comparable as a larger community-banking peer with similar relationship-led approach and broader geographic spread.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/arcola-first-bank

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

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 First Bank Arcola