People First Bancshares Inc. Reports Increases in Customers

March 30, 2016

People First Bancshares, Inc. held its annual meeting of shareholders on March 30, 2016 at Peoples Bank & Trust in Pana, IL. During the meeting, David R. Fines, James D. Randolph and David T. Dorn, Jr. 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, Michael E. Beyers, Brad Davis, John Gardner, George Hiler, David Slater and Michael M. Trexler.

During the report of operations, John Gardner, President and CEO, recognized the Board, Management and Employees for their contributions to the bank’s success. Gardner reported that during 2015, net income was $4.2 million. Net income per average share was $13.14, resulting in an increase in book value per share from $95.01 to $104.53. These earnings represented an 11.3% return on the bank’s equity capital. This return is higher than 67% of banks in the country of similar size. Gardner stated, “With significant increases in customer relationships, solid customer satisfaction levels, and improved operations and credit quality, 2015 was a good year at Peoples Bank & Trust.” Gardner reported that the bank gained a number of new customers in 2015 with loan volume increasing $22 million and deposit volume increasing $27 million. Gardner added that based on surveys of customers in 2015, 96% of our customers consider their banking experiences with Peoples Bank & Trust to be Good or Excellent. Gardner announced that although loan volume had increased, problem loans had decreased. Non-performing loans were reduced to only 3.25% of bank capital in 2015. This level is a lower level of non-performing loans in 80% of similar banks in the country. Gardner concluded, “We’re very pleased with these results and plan to continue to improve in 2016 as we grow, improve profitability and improve bank operations.”

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.