The Hancock-Henderson Quill, Inc.
Speaking at the Bank of Stronghurst Annual Meeting, September 25, 2021, which also included its celebration of the bank's 75th Anniversary, Chuck Neff, a current bank Director of the bank, told the stockholders and guests that it was on "Saturday, April 27th, 1946 at 9:00 a.m., the Bank of Stronghurst opened for business.
Neff said, "The Stronghurst Graphic newspaper, which was renamed The Henderson County Quill in the 1970s and was published in the 1940s by current Publisher Dessa Rodeffer's grandfather and father, Charles M. Bell and Paul G. Bell, had proclaimed: "Welcome Bank of Stronghurst" in a bold headline on April 25th, 1946 and the newspaper informed the community on how the bank's opening would benefit Stronghurst and the surrounding vicinity and they also included profiles of the employees who would assist the banks' operation upon opening.
"I can remember while growing up my father telling me in general terms how the Bank of Stronghurst came into existence. Dad told me how, Chuck Fort, who served Stronghurst for many years as the town's resident attorney, had long hoped that a full-service financial institution would eventually return to the community.
Chuck Fort approached my father, Clarence Neff, in late 1945 to ask if he would lead the effort to establish a Bank in Stronghurst, which had not had a bank in town since the Stronghurst State Bank closed permanently on
November 30, 1932 during the Great Depression.
Chuck Fort had purchased the State Bank's building following it's closure and used it for his law office for a decade, but through his foresight, Chuck hoped the building would eventually be used for a new banking concern in our community.
From the State Bank's closing in 1932 until the new bank came to fruition, Stronghurst did have what was called the "Merchant's Exchange" which would assist citizens and local business' with some limited banking services, but Chuck Fort and other leaders recognized that demand for bank loans would be significant and needed by the public during the post-war years and that a bank was necessary to assist those who needed full-service banking as the economy grew following WWII.
The local economy had been poor through the 1930s and early 40s as the Great Depression ended, showing little demand during that time for loans, but the local economy had begun to improve during the years of World War II with the increased demand for grain and livestock foodstuffs needed from our local farmers to feed America and her allies.
The Stronghurst Graphic reported that in 1945 $845,000 worth of livestock were shipped by rail from Stronghurst, with $845,000 being the equivalent of over $12,000,000 in today's currency. That shows that bottom lines for farmers were improving and in a farming community like Stronghurst, that prosperity trickled down to help local merchants and other residents of the community.
So my father took Chuck's challenge and in early 1946, he served as chairman for the organizing committee for a new Stronghurst bank.
The Graphic reported in their February 14th, 1946 edition that the organizing committee had met and a goal was set to have a bank established and opened within 90 days. It was also at the first organizational committee meeting the name "Bank of Stronghurst" was selected.
It was determined by the organizing committee to sell up to 350 shares of common stock for the prospective bank at $150.00 per share.
The Graphic reported that on Wednesday, February 13th the organizing committee officially went out to canvass the community and offered bank shares to Stronghurst merchants and village residents. 150 shares were "pledged" to be purchased int hat one day.
Following this one-day canvass, the Graphic wrote that "This shows that the Village of Stronghurst is enthusiastic about opening a bank here".
Next, the committee sought out pledges for stock purchases from area farmers and others living outside the community who had interest in a prospective Stronghurst banking house. So, according to the Graphic's reporting, on Thursday, February 28th, committee members canvassed the farm-areas surrounding Stronghurst for pledges. The Graphic reported in this story that, prior to this canvass day, "numerous farmers had already volunteered to purchase stock."
Within days, all 350 shares of stock were pledged and sold. When the bank was founded, 164 stockholders owned all 350 shares of the bank's stock.
The bank's application to organize was quickly approved by state regulators and the first meeting of stockholders was held in Stronghurst at the then-Farm Bureau Building on Friday, March 28th, 1946 to organize and elect the bank's first board of directors.
Chuck Fort was appointed as the temporary chairman and Glenn Marshall acted as secretary. The members of the Board of Directors were elected at this meeting and those elected as the bank's officers were:
Clarence Neff as President, Joe Peasley as 1st VP, and O. W. Lauver as 2nd VP. The new board formally approved the selection of Howard Grigsby as the Bank's Cashier and first employee at this meeting.
I'd like to say a few words about how Howard Grigsby, who oversaw the bank's operation for it's first five decades, came to Stronghurst.
Howard Smith, one of the original bank directors, told the organization committee that his father-in-law knew and recommended Howard Grigsby, a recently discharged Navy officer then living in Blandinsville. Howard had 10 years of banking experience prior to his military service and it was thought that he might be a good fit to help organize and oversee the bank's operation.
So my father and other organizational committee and prospective bank board members met with Howard and after interviewing him they felt that he was the right person to run the day-to-day operations for the bank.
He was formally offered the position of cashier and he accepted their offer. Two months before the bank formally opened, Howard and his family moved to Stronghurst and he became familiar with village merchants and many of the bank's other patrons even before the doors opened for business.
Howard served the bank as cashier, executive vice-president, CEO, and succeeded my father as the bank's president in 1983. He was elected to the bank's board of directors in 1955. Besides his leadership in running the bank, Howard was committed to aiding the Stronghurst community and he served as the Village Mayor and was also the founder and 1st president of the Stronghurst Booster Club.
Howard Grigsby's imprint on the Bank of Stronghurst and community as a whole is still felt to this day long after his passing.
Besides Howard, two other employees were important in the early years of the Bank of Stronghurst and should be mentioned.
Upon opening, for at least the first few months and possibly for as long as a year, the bank employed J. F. McMillan.
J. F., who was commonly known around town by the nickname of "Flem" had been the assistant cashier of the previous State Bank of Stronghurst and was employed by that bank from1901 until the bank's closing in 1932. Although an "Elderly Gentleman" by 1946, especially by 1946 standards, he agreed to assist the bank when the doors were opened to the public.
Having utilized the bank building for many years by being previously employed there, "Flem" McMillan must have been very helpful to Howard in determining on how to make the best usage of the old bank building and even with helping Howard in understanding community banking habits.
The other employee who greatly assisted the bank's operations in it's early years was Wayne Little. Wayne, a La Harpe Native, was hired by the bank in July 1947. He had served in the Army during WWII and was seriously wounded in action in early 1945. Wayne was initially hired as a Teller, but became both assistant cashier and cashier for the bank, serving as bank officer until his death in 1972
I could not remember who the first woman employee of the bank was so I asked Stacie Newberry if she knew from her research who that person was.
She informed me that Mary Margaret Brennen, who became Mary Margaret Day later upon her marriage, was the bank's first female employee. Mary Margaret was hired by the bank in 1951, initially as a stenographer and she eventually joined the bookkeeping department for the bank.
"That's all for today's history lesson," Chuck said. The full history of the bank's 1st 75 years was provided in a booklet that was handed out to each one in attendance.
"As current Director to the Bank," Chuck thanked employees and officers of the Bank of Stronghurst for their continued dedication to the bank, it's operations, and for their overall support within all the communities that our bank serves.
Chuck also thanked the stockholders and their families for their continued support of the community's long-standing bank.
Above, Charles "Chuck" Neff, of Stronghurst gives a history lesson at The Bank of Stronghurst Annual Stockholders Meeting, Sept. 25th, during its 75th anniversary celebration. He tells the early concerns for a financial institution in Stronghurst after the Great Depression (1929-1933), describing events that led up to the establishment of The Bank of Stronghurst over 75-years ago adding notes that his father had told him, Mr. Clarence E. Neff (8/3/1909–7/16/1988). Clarence was a community leader and businessman starting the John Deere dealership and Buick dealership in town. He was asked by local attorney Chuck Fort to lead in the establishment of the bank. Neff accepted and was elected Chairman of the Board in 1946. He later served the 47th district as Illinois State Representative (1954-1983), supporting low taxes as a Republican conservative. Clarence served his community until his death at age 78 in 1988.