Olney-based TrustBank acquires TNB Bank
TUSCOLA — TNB Bank in Tuscola recently got a new name and new ownership.
TrustBank is a bank group based in Olney that, prior to the acquisition, had four branches in Illinois and three in Arizona.
The sale of TNB Bank was finalized Friday, and the facility re-opened Monday under the TrustBank banner.
“The company is very excited to extend its reach into Douglas County,” stated Gina Kocher, director of marketing and business development for TrustBank. “It fits our culture. It has a family feel and similar values.”
Kocher noted TNB Bank’s long history, comparing similar pathways that TrustBank also went through.
“We survived world wars and the stock market crash,” Kocher noted. “We’ve weathered the same storms.”
TrustBank was founded in Olney in 1912. In 110 years, TrustBank adds a branch in Tuscola in addition to three branches in Olney and a location in Cisne. The three Arizona locations are in Phoenix, Scottsdale, and Chandler.
The Tuscola acquisition will increase TrustBank’s assets by roughly 33 percent.
Local management will remain the same, with Lloyd Murphy remaining as president. Under the terms of the sale, Murphy’s position will remain in place for one year.
History of TNB Bank
TNB Bank was founded in 1890 as Tuscola State Bank. It would rebrand in 1940 to Tuscola National Bank after becoming part of the Federal Reserve System. It moved to its distinctive football-shaped location in 1964; that building would later become City Hall.
The bank moved to its current location on Progress Boulevard in the mid-1990s when The Outlets at Tuscola was being built. Its name would change to TNB Bank when it became a state bank once again.
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Jake Leonard, a broadcast media and journalism veteran, is the editor-in-chief of Heartland Newsfeed. Leonard is also GM and program director of Heartland Newsfeed Radio Network, wrestling editor and contributing writer for Ambush Sports, a contributing writer for My Sports Vote and Midwest Sports Network, and a former contributor to Bleacher Report and Overtime Heroics. He resides at home in Nokomis, Ill. with his dog Buster.
