The First National Bank of Sycamore offers a full range of lending services for your personal and business financial needs. First National Bank of Sycamore can help with home equity loans or lines of credit. First National Bank of Sycamore also offers lending options for both new and used automobiles at competitive rates.
In 1919 a group of Sycamore area residents decided to form a bank for the good of the community. 500 shares of stock were issued at $100 per share in order to raise $50,000 in capital. There were 96 initial shareholders who purchased between 1 and 10 shares apiece.
In 1929, after ten years of operation and on the eve of the Great Depression, the Bank had grown to $317,000 in total assets and $71,000 in capital. While the survival of any bank during the 1930’s was certainly not assured, the Bank managed to survive and continue to serve the community. Our country had just emerged from the Great Depression and entered World War II at the end of 1941 when total assets of the Bank were $636,000 and capital totaled $62,000.
The new millennium ushered in an era of promise with a roaring stock market fueled by speculative investing in the .com industries. The technology bubble began to burst early in the decade with the final blow being the terror attacks of September 11, 2001. During these tumultuous events, the Bank’s assets grew to over $75,000,000 and capital to $10,961,000.
The Dow Jones Industrial Average recovered after the September 11, 2001 terror attacks to set a new record high in 2006.
Sycamore Main Office: 419-927-6392 or 800-451-3942
McCutchenville Branch: 419-981-5555
New Riegel Branch: 419-595-2231
Mortgage Office: 419-927-6693
