State Bank of Cherry, Financial Information

Terms and Definitions

• Domestic deposits

  The sum of all domestic deposits, including demand deposits, money market deposits and time deposits.
• Equity capital

  Total equity capital (includes preferred and common stock, surplus and undivided profits).
• ROA

  Return on assets, net income after taxes and extraordinary items (annualized) as a percent of average total assets.
• ROE

  Return on equity, annualized net income as a percent of average equity on a consolidated basis.

On May 7, 1906, H.C. Haugan, John W. Blee, and Charles L. Connolly were granted permission to organize a bank under the laws of the State of Illinois. This bank became known as the State Bank of Cherry. At that time there were nineteen original shareholders. These shareholders started the bank with a combined total of $25,000.00.

In 1973 a new building was constructed to the south of the bank. This was to be the new home of the State Bank of Cherry. In 1979 the old bank building was demolished and an addition was added to the building constructed in 1973. This structure is now the location of the bank at 110 South Main Street.

May of 2006 completed 100 years of faithful banking service. The people of Cherry and of the Illinois Valley have shown patronage, friendship and loyalty to the State Bank of Cherry.

State Bank of Cherry
110 South Main Street
Cherry, IL 61317
Phone Numbers: 1-800-447-9138
815-894-2345
Fax: 815-894-2090