Community Trust Bank has a long heritage of being a family owned independent financial institution for much of its history. Starting back in February of 1923 when Alfred Pitchford was appointed president of the Richview State Bank. Alfred was the grandfather of Lester Pitchford who currently serves as President and Chairman of the Board. Lester has served as president for 50 years after being appointed in 1950. Also, currently serving on the Board of Directors is Lester's daughter, Nancy Roethemeyer who replaced her grandfather, Raymond Pitchford's upon his death in 1976 and his granddaughter Sheila Burcham who is currently serving as CEO and director.
Over the past 138 years, Community Trust Bank has been known by three different names. Starting out in 1860 the bank was a private business ran by Samuel Phillip Cooper and called the The Exchange Bank of S.P. Cooper located in Richview, Illinois. In 1912, when Mr. Cooper passed away his son-in-law, Jack Stanton sold the bank to a group of investors who changed the name to The Farmer's and Merchants Bank. On August 7, 1913 the State of Illinois gave permission to another group of men to form the Richview State Bank and as a result, by September 15th of the same year, the new bank had bought out Farmer's and Merchants Bank. After moving to Irvington on December 12, 1966, the directors changed the name to Community Trust Bank for which it is known today.
This financial institution has seen many economic changes throughout its history. During the depression in 1932, the bank was closed for two weeks due to the Bank Moratorium but re-opened after a trip to Springfield with the books to prove its solvency. However, during this time, in order to keep the bank operating, the 3% semi-annual dividend was eventually reduced to zero and the $1 per meeting directors fee was given back to the bank by all board members. These measures paid off as the bank weathered the depression almost unscathed.
Community Trust has been through numerous expansions after the move to Irvington in 1966. The building in Irvington was expanded once in the early 80's. In 1981, the board and management decided to expand their operations to include the Centralia area by putting a branch facility on the east side of town and an ATM facility on the west side of town. This facility was again expanded by doubling its space and adding a basement in the fall of 1994 enabling the data processing operations to be moved in the fall of 1996. Wanting to expand its market and continue to grow, the Board of Directors decided to expand with a branch facility in the Nashville, Illinois area. This branch officially opened on April 1, 1999.