Glasford State Bank

Glasford State Bank was established on September 1, 1932, in Glasford, Illinois. Throughout its history, the bank underwent several changes in regulatory status and location. Initially, it was a member of the Federal Reserve System and remained classified as such until February 15, 1966, when it withdrew from the system and became a state-chartered bank not affiliated with the Federal Reserve. The bank's main office relocated multiple times, with significant moves occurring in 1989 to Main Street, 1992 to 305 East Main Street, and finally in 2021 to 305 West Main Street in Glasford, Illinois. On June 17, 2022, Glasford State Bank merged with Better Banks, based in Peoria, Illinois, marking the end of its operations as an independent entity.

Below is a list of some important events in banks history, including mergers and acquisitions.

1932-09-01Institution established. Original name: Glasford State Bank.

1941-02-07Institution becomes member of the Federal Reserve System.

1941-02-07Changed Bank Class to State Chartered Bank, member of the Federal Reserve System (FRS).

1941-02-07Changed Primary Federal Regulatory Agency to FED.

1966-02-15Institution withdraws from membership in the Federal Reserve System.

1966-02-15Changed Bank Class to State Chartered Bank, not member of the Federal Reserve System (FRS).

1966-02-15Changed Primary Federal Regulatory Agency to FDIC.

1989-09-30Main Office moved to Main Street, Glasford, IL 61533.

1992-06-15Main Office moved to 305 East Main Street, Glasford, IL 61533.

2021-08-29Main Office moved to 305 W Main St, Glasford, IL 61533.

2022-06-17Merged and became part of Better Banks in Peoria, IL.