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Peoples Bank & Trust is owned by the holding company People First Bancshares, Inc. |
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The holding company is locally owned by shareholders in the communities that Peoples Bank & Trust serve. |
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April 9, 2013
To the Shareholders of People First Bancshares, Inc.:
The Board of Directors of People First Bancshares, Inc. is pleased to announce a distribution of $1.12 per share to shareholders of record as of April 1, 2013. Your distribution check is enclosed with this letter. This distribution represents an amount sufficient for the estimated quarterly payment of applicable state and federal income taxes associated with the S-Corporation’s income.
For complete financial results, please review the attached, management-prepared Consolidated Balance Sheet and Income Statement for People First Bancshares, Inc. and its subsidiary, Peoples Bank and Trust, for the quarter ending March 31, 2013. We are pleased with the continuing improvement in our financial performance and we are excited about the future prospects of the bank.
The Board of Directors of People First Bancshares, Inc. has authorized the purchase of a limited number of shares at $105.00 per share. If you are interested in purchasing or selling shares of People First Bancshares, Inc. stock and would like your name given to potential sellers or purchasers, or to discuss any questions or concerns pertaining to your investment, please contact John.
We appreciate the confidence you have placed in us through your stock investment as well as your banking relationship. Please contact John or any of the Peoples Bank and Trust staff to discuss any opportunities to expand our banking relationship.
Sincerely,
John Gardner
President and CEO
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PRESS RELEASE
For Immediate Release:
For Additional Information Contact: John Gardner, President and CEO
Phone: (866) 670-3455
PEOPLE FIRST BANCSHARES INC. ANNOUNCES NEW EMPLOYEES, NEW MARKETS AND OUTSTANDING PERFORMANCE
People First Bancshares, Inc. held its annual meeting of shareholders on March 27, 2013 at Peoples Bank & Trust in Pana, IL. During the meeting, James D. Randolph and David R. Fines were reelected to three year terms as directors of the Bank and Holding Company. Other directors of the Bank and Holding company are Larry D. Beaty, George Hiler, David Slater, Michael E. Beyers, John Gardner and Michael M. Trexler. Barry V. Heaton and Robert Zueck were re-appointed to serve as Director Emeritus.
During the report of operations, John Gardner, President and CEO, explained that 2012 was a great year for Peoples Bank & Trust and recognized the Board, Management and Employees for their contributions to bank’s success. Gardner welcomed new officers: Cindy Whittemore, Vice President, Senior Credit Administration Officer, Carol Furnish, Vice President, Credit Administration Manager, Carl Moran, Jr., Community Bank President, Mike Rueter, Vice President, Business Banking, Robert Lyman, Vice President, Business Banking, Larry Boston, Vice President, Business Banking, Jeff Grimmett, Assistant Vice President, Consumer Banking, Lori Doolin , Assistant Vice President, Consumer Banking, and Terry Schafer, Assistant Vice President, Marketing and Human Resources.
Gardner reported that following its acquisition and merger with White Hall Bank & Wemple State Bank in December, Peoples Bank & Trust has expanded into the communities of Morrisonville, Palmyra, Waverly and White Hall. Peoples Bank & Trust now has banking facilities in ten communities representing seven distinct market areas. “We’re excited about the opportunity to join these communities.” Gardner explained, “They are very similar in nature to the communities where we’ve been most successful, and where we’ve been able to make a positive impact for the community.”
Growth and shareholder returns were financial highlights of 2012. Gardner reported that bank assets increased from $297 million to $404 million; deposit volume increased from $245 million to $335 million, the bank’s loan portfolio grew from $197 million to $274 million; and net income increased from $3.8 million to $5.3 million. Earnings per share increased from $11.80 to $16.50, resulting in an increase in book value per share from $64.02 to $74.33.
Gardner concluded, “2012 was a great year for Peoples Bank & Trust. We plan to continue to build our employee teams, operate in a safe and sound manner, focus on our customers and deliver strong shareholder returns."
Peoples Bank & Trust is a locally owned and managed, independent community bank with ten offices located in Charleston, Altamont, Tower Hill, Pana, Taylorville, Morrisonville, Springfield, Waverly, Palmyra and White Hall. Peoples Bank & Trust is a full service bank offering outstanding customer service to consumers, small business, and farmers in Central Illinois. People First Bancshares, Inc., with corporate offices in Pana, Illinois, is the holding company for Peoples Bank & Trust.
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January 11, 2013
To the Shareholders of People First Bancshares, Inc.:
Happy New Year!
We are pleased to report that People First Bancshares, Inc. and its subsidiary, Peoples Bank & Trust, recently completed a very exciting year. We successfully completed the merger and acquisition of the Wemple State Bank and White Hall Bank – increasing our number of branch locations to ten. In addition to solid bank operations and growth throughout the year, the merger and acquisition provided a boost to our balance sheet at year end. The holding company’s total assets increased from $297 to $400 million; total loans increased from $197 to $277 million; total deposits increased from $245 to $335 million; and net income increased from $3.8 million to approximately $5.3 million. We look forward to reporting complete audited final results to you later.
The Board of Directors of People First Bancshares, Inc. is pleased to announce a distribution of $1.49 per share to shareholders of record as of January 10, 2013. This distribution represents $0.89 reimbursement for potential income tax liability associated with owning each share of stock and $0.60 per share which has historically been considered a dividend. In aggregate with distributions made earlier in 2012 for this purpose, $3.54 has been distributed as reimbursement for potential 2012 income tax liability associated with each share of stock. Your distribution check is included with this letter.
We will provide you and the Internal Revenue Service with a Schedule K-1 by February 18, 2013. The Schedule K-1 reports your share of the Corporation’s 2012 taxable income for use in filing your 2012 federal and state income tax returns. We plan to continue to make periodic distributions to shareholders for payment of their applicable federal and state income taxes on their respective share of the Company income. These distributions will be made based on an estimated marginal income tax rate of 38%. In order to roughly coincide with the due dates for quarterly income tax estimates, these distributions will continue to be made early in the months of April, June, September, and January.
The Board of Directors of People First Bancshares, Inc. has authorized the purchase of a limited number of shares at $102.00 per share. If you are interested in purchasing or selling shares of People First Bancshares, Inc. stock and would like your name given to potential sellers or purchasers, or to discuss any questions or concerns pertaining to your investment, please contact John.
We appreciate the confidence you have placed in us through your stock investment as well as your banking relationship. Please contact John or any of the Peoples Bank and Trust staff to discuss any opportunities to expand our banking relationship.
Sincerely,
Michael M. Trexler
Vice-Chairman of the Board
John Gardner
President and CEO
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December 18, 2012
To the Shareholders of People First Bancshares, Inc.:
The Board of Directors of People First Bancshares, Inc. is pleased to announce the completion of our merger of White Hall Bank and Wemple State Bank into Peoples Bank & Trust at 6:00 p.m. on Friday, December 7, 2012. Branches of Peoples Bank & Trust in Morrisonville, Palmyra, Waverly and White Hall, IL opened for business on Saturday, December 8, 2012. The bank now has over $400 million in assets and ten branch locations.
Each of the four new communities has greeted the bank in a positive manner. The former White Hall Bank and Wemple State Bank customers have been patient with us through the conversion. Peoples Bank & Trust has gained an outstanding customer base in very nice communities.
Nearly all of the former White Hall Bank and Wemple State Bank employees were retained. All of the existing and new employees in all departments of our bank have contributed to this achievement together. Many have worked long hours in a professional manner, even under complex and trying circumstances, to make this conversion a success. We’ve been blessed with a terrific staff, and we are very thankful for their efforts.
We look forward to future success with our new employees, customers, and communities. Please contact John if you have any questions related to this announcement.
We appreciate the confidence you have placed in us through your stock investment as well as your banking relationship.
Merry Christmas!
Sincerely,
Larry D. Beaty
Chairman of the Board
John Gardner
President and CEO
_____________________________________________________________
PRESS RELEASE
For Immediate Release:
For Additional Information Contact: John Gardner, President and CEO
Phone: (866) 670-3455
White Hall Bank and Wemple State Bank to Merge with Peoples Bank & Trust
PANA, Ill. John Gardner, CEO of Peoples Bank & Trust and Gary Edwards, Chairman of the Board of Wemple State Bank, headquartered in Waverly, Ill., and White Hall Bank in White Hall, Ill., are pleased to announce an agreement to merge Wemple State Bank and White Hall Bank with Peoples Bank & Trust. The bank resulting from the merger will be Peoples Bank & Trust. The agreement is subject to regulatory approval and is expected to close early this winter. In the coming weeks, Wemple State Bank and White Hall Bank customers will receive additional specific information explaining the transition before the actual transition date.
“I’m excited to bring Peoples Bank & Trust to White Hall, Waverly, Morrisonville and Palmyra. Edwards said, When I initially came to our communities, I was received with open arms. I can only expect the same welcome for Peoples Bank & Trust as they commit to the same strength, stability and community dedication as Wemple State Bank and White Hall Bank.
“This is a new opportunity for us to serve more customers and more communities. We’re eager to get to know our new customers,” said Gardner. “Our motto is, ‘We Put People First’, and we’ll work to do that in White Hall, Waverly, Morrisonville and Palmyra just as we have in each of our other banking communities.
Peoples Bank & Trust, Wemple State Bank and White Hall Bank also announced that all of the existing staff of Wemple State Bank and White Hall Bank will be retained by Peoples Bank & Trust as part of the transaction.
“Aside from the opportunity to be part of new communities, we’re excited about the opportunity to have the outstanding employees of Wemple State Bank and White Hall Bank join our existing team, said Gardner. “We believe the most important relationships in banking are the personal relationships between the customer and the bank employees that serve their financial needs. Respecting that relationship is our first step to provide outstanding customer service.
Peoples Bank & Trust, headquartered in Pana, Ill., has five additional locations in Charleston, Altamont, Tower Hill, Taylorville, and Springfield. With the addition of the White Hall, Waverly, Morrisonville and Palmyra branches, Peoples Bank & Trust will have locations and total assets of approximately $400 million.
As a locally owned, independent community bank since 1954, Peoples has a tremendous history of providing financial solutions for individuals, farmers, commercial businesses and municipal organizations in central Illinois. People First Bancshares, Inc., with corporate offices in Pana is the holding company for Peoples Bank & Trust. For more information about Peoples Bank & Trust, visit www.bankpbt.com.
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Dear Wemple State Bank Customer:
We would like to introduce you to Peoples Bank & Trust. Peoples Bank & Trust, White Hall Bank and Wemple State Bank have entered into a merger agreement, which affects accounts you hold at the Wemple State Bank. Each branch of Wemple State Bank will become branches of Peoples Bank & Trust effective at the close of regulatory approval, which we expect early this winter. You will be officially notified when changes occur. At the close of the transaction, your accounts and loans will become accounts and loans with Peoples Bank & Trust.
Peoples Bank & Trust will work to ensure your new accounts have similar account services and fee structures. You can expect more information from Peoples Bank & Trust, including a Welcome Guide, to explain this transition in greater detail. In addition, you will receive an additional update from Peoples Bank & Trust in November regarding the status of this transaction. In the meantime, Wemple State Bank will continue to provide the service you know and expect.
Here is what you can expect as part of this change:
• The current Wemple State Bank staff will become employees of Peoples Bank & Trust and continue to provide you with faces and names you trust, a smile you know, and the professional, courteous service you expect. Peoples Bank & Trust is extremely excited to have the Wemple State Bank staff as part of their team.
• All current branch facilities of Wemple State Bank will remain in operation with Peoples Bank & Trust after the close of this transaction. The branches are not closing. Peoples Bank & Trust is looking forward to serving Wemple State Bank customers in the Christian, Macoupin and Morgan County areas and being a devoted member of the communities.
• Peoples Bank & Trust is stable, financially strong and has many similarities to the mission and philosophy of Wemple State Bank, including serving similar customers and having a commitment to relationship banking.
• Further details about your accounts and the products and services offered by Peoples Bank & Trust will be included in the upcoming Welcome Guide.
We want to assure you of the security and stability of your accounts and your banking relationships going forward. Wemple State Bank has valued your business and is happy to have Peoples Bank & Trust as a partner in this transaction. Peoples Bank & Trust, headquartered in Pana, Ill., has five other locations in Charleston, Altamont, Tower Hill, Taylorville, and Springfield. As a locally owned, community bank since 1954, it has more than $290 million in assets and a tremendous history of providing financial solutions for individuals, farmers, commercial businesses and municipal organizations. We believe you’ll find that Peoples Bank & Trust is true to its motto of, ’We Put People First’.
If you have questions or concerns about this transaction, please contact Samuel C. Leak, Wemple State Bank at (217) 435-2181. You are also welcome to speak with John Gardner at Peoples Bank & Trust by calling, (866) 670-3455. Feel free to learn more about Peoples Bank & Trust by visiting their website, www.bankpbt.com. We believe you will find Peoples Bank & Trust to be a personable and valued financial partner.
Sincerely,
Samuel C. Leak
President & CEO
Wemple State Bank
John Gardner
President & CEO
Peoples Bank & Trust
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Dear White Hall Bank Customer:
We would like to introduce you to Peoples Bank & Trust. Peoples Bank & Trust, White Hall Bank and Wemple State Bank have entered into a merger agreement, which affects accounts you hold at the White Hall Bank. White Hall Bank will become a branch of Peoples Bank & Trust effective at the close of regulatory approval, which we expect early this winter. You will be officially notified when changes occur. At the close of the transaction, your accounts and loans will become accounts and loans with Peoples Bank & Trust.
Peoples Bank & Trust will work to ensure your new accounts have similar account services and fee structures. You can expect more information from Peoples Bank & Trust, including a Welcome Guide, to explain this transition in greater detail. In addition, you will receive an additional update from Peoples Bank & Trust in November regarding the status of this transaction. In the meantime, White Hall Bank will continue to provide the service you know and expect.
Here is what you can expect as part of this change:
• The current White Hall Bank staff will become employees of Peoples Bank & Trust and continue to provide you with faces and names you trust, a smile you know, and the professional, courteous service you expect. Peoples Bank & Trust is extremely excited to have the White Hall Bank staff as part of their team.
• The White Hall Bank will remain in operation as a branch of Peoples Bank & Trust after the close of this transaction. The bank is not closing. Peoples Bank & Trust is looking forward to serving White Hall Bank customers in the Greene County area and being a devoted member of the communities.
• Peoples Bank & Trust is stable, financially strong and has many similarities to the mission and philosophy of White Hall Bank, including serving similar customers and having a commitment to relationship banking.
• Further details about your accounts and the products and services offered by Peoples Bank & Trust will be included in the upcoming Welcome Guide.
We want to assure you of the security and stability of your accounts and your banking relationships going forward. White Hall Bank has valued your business and are happy to have Peoples Bank & Trust as a partner in this transaction. Peoples Bank & Trust, headquartered in Pana, Ill., has five other locations in Charleston, Altamont, Tower Hill, Taylorville, and Springfield. As a locally owned, community bank since 1954, it has more than $290 million in assets and a tremendous history of providing financial solutions for individuals, farmers, commercial businesses and municipal organizations. We believe you will find that Peoples Bank & Trust is true to its motto of, ’We Put People First’.
If you have questions or concerns about this transaction, please contact Carl L. Moran, Jr., White Hall Bank at (217) 374-2181. You are also welcome to speak with John Gardner at Peoples Bank & Trust by calling, (866) 670-3455. Feel free to learn more about Peoples Bank & Trust by visiting their website, www.bankpbt.com. We believe you will find Peoples Bank & Trust to be a personable and valued financial partner.
Sincerely,
Carl L. Moran, Jr.
President & CEO
White Hall Bank
John Gardner
President & CEO
Peoples Bank & Trust
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September 24, 2012
To the Shareholders of People First Bancshares, Inc.:
The Board of Directors of People First Bancshares, Inc. is pleased to announce an agreement to merge Peoples Bank & Trust with White Hall Bank and Wemple State Bank. The resulting bank would be Peoples Bank & Trust and the transaction would have the effect of acquiring the two banks. The agreement is subject to regulatory approval and is expected to close early this winter.
White Hall Bank and Wemple State Bank are currently owned by Lima Bancshares, Inc. White Hall Bank has an office in White Hall, IL. Wemple State Bank’s main office is currently in Waverly, IL with branch offices in Palmyra, IL and Morrisonville, IL. Peoples Bank & Trust plans to continue to operate all of the branches. The acquisition involves approximately $103 million in customer deposits and approximately $72 million in customer loans.
Aside from an opportunity for profitable bank growth, the proposed transaction will also provide the following benefits:
• Diversification of our bank’s sources of deposit funds;
• Elimination of our bank’s funding dependency from wholesale sources; and
• Reduction in the volatility of our bank’s funding cost and funding availability.
Additionally, we are excited to offer employment to all of the existing White Hall Bank and Wemple State Bank staff. These employees are respected local bankers with strong customer relationships and positions of leadership within their communities. They will be great additions to our team.
Please contact John if you have any questions related to this announcement.
We appreciate the confidence you have placed in us through your stock investment as well as your banking relationship.
Sincerely,
Larry D. Beaty
Chairman of the Board
John Gardner
President and CEO
______________________________________________________________
September 7, 2012
To the Shareholders of People First Bancshares, Inc.:
The Board of Directors of People First Bancshares, Inc. announces a distribution of $0.40 per share to shareholders of record as of August 31, 2012. Your distribution check is enclosed with this letter. The aggregate distribution this year to date includes:
$0.60 Annual Distribution paid 01/12
$1.53 Distribution for 2011 Income Tax Liability paid 01/12
$1.54 Distribution for 2012 Income Tax Liability paid 03/12
$0.71 Distribution for 2012 Income Tax Liability paid 06/12
$0.40 Distribution for 2012 Income Tax Liability enclosed
$4.78 Total Distributions 2012 Year to Date
We are also pleased with the financial performance of the bank. For complete financial results, please review the attached, management-prepared Consolidated Summary Balance Sheet and Income Statement for People First Bancshares, Inc. and its subsidiary, Peoples Bank and Trust, for the periods ending August 31, 2010, 2011 and 2012.
We appreciate the confidence you have placed in us through your stock investment as well as your banking relationship. Please contact John or any of the Peoples Bank and Trust staff to discuss any opportunities to expand our banking relationship.
Sincerely,
Larry D. Beaty
Chairman of the Board
John Gardner
President and CEO
_____________________________________________________________
PRESS RELEASE
For Immediate Release:
For Additional Information Contact:
John Gardner, President and CEO
Phone: (866) 670-3455
PEOPLES BANK & TRUST AWARDED
SMALL BUSINESS LENDING INVESTMENT BY US TREASURY
Pana, IL. People First Bancshares, Inc. has announced that the US Treasury has selected Peoples Bank & Trust for participation in the Small Business Lending Fund ("SBLF"). This will allow the bank to extend more commercial and agricultural loans to small businesses and farms.
People First Bancshares, Inc. has received $9,198,000 from the issue of senior securities to the US Treasury. Senior securities are unsecured, subordinated debentures which do not constitute a class of stock or represent any equity ownership in the holding company or bank.
The SBLF is a voluntary program intended to encourage small business and farm lending by providing additional capital at favorable rates to qualifying community banks. The rate the bank pays on SBLF funding is reduced as the bank increases its lending. This is an incentive for additional bank lending to help small businesses and farms expand and create jobs.
Peoples Bank & Trust has increased its outstanding loans to small businesses and farms by over $45 million in the past two years. "We are proud of the bank’s growth and track record in meeting the financial needs of small businesses and farms – the loans targeted by the SBLF," said John Gardner, President and CEO. “We look forward to utilizing these funds to partner with more small business and farm customers to help improve economic opportunity in the communities we serve.”
The SBLF was enacted into law as part of the Small Business Jobs Act of 2010.
Peoples Bank & Trust is a locally owned and managed, independent community bank with six offices located in Altamont, Charleston, Pana, Taylorville, Tower Hill, and Springfield. Peoples Bank & Trust is a full service bank offering outstanding customer service to consumers, small business, and farmers in Central Illinois. People First Bancshares, Inc., with corporate offices in Pana, Illinois, is the holding company for Peoples Bank & Trust.
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June 9, 2011
To the Shareholders of People First Bancshares, Inc.:
The Board of Directors of People First Bancshares, Inc. announces a distribution of $0.50 per share to shareholders of record as of May 31, 2011. Your distribution check is enclosed with this letter. The aggregate distribution this year to date is $2.63 per share. The aggregate distribution this year to date includes this distribution, the two previous distributions for tax purposes, and the annual distribution of $0.60 per share completed in January.
We are also pleased with the financial performance of the bank. For complete financial results, please review the attached, management-prepared Consolidated Summary Balance Sheet and Income Statement for People First Bancshares, Inc. and its subsidiary, Peoples Bank and Trust, for the periods ending May 31, 2009, 2010 and 2011.
The Board of Directors of People First Bancshares, Inc. has authorized the purchase of a limited number of shares at $70.00 per share. If you are interested in purchasing or selling shares of People First Bancshares, Inc. stock and would like your name given to potential sellers or purchasers, or to discuss any questions or concerns pertaining to your investment, please contact John.
We appreciate the confidence you have placed in us through your stock investment as well as your banking relationship. Please contact John or any of the Peoples Bank and Trust staff to discuss any opportunities to expand our banking relationship.
Sincerely,
Larry D. Beaty
Chairman of the Board
John Gardner
President and CEO |
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