Dieterich Bank was chartered on November 15, 1909, as the First National Bank of Dieterich, providing crucial financial service to local farmers, merchants, and people of the Village of Dieterich.
From the very beginning, Dieterich Bank showed dedication to its employees and community. Many of the values we still hold as a bank today started with our founding, and this helped the bank continue to grow and prosper over the years.
In 1919, it was owned and operated by N. J. Stipp, President, and R. C. Crays, Cashier, who both saw the bank through the 1930s and survived the Great Depression. Bank assets were $228,000 in 1930, and by 1944 when Stipp and Crays sold the bank to J. M. Schultz, bank assets were $857,000. Then, after years of success in our original location, the bank moved into a new building at 103 West Section Street in Dieterich in 1969.
In 1986, the bank expanded yet again, and a new bank was built at 101 South Main Street in Dieterich, where it still operates today as a branch facility. Tom Niebrugge was named president, bank assets were at $18,000,000, and the bank now had nine employees.
It was not long after this that our reach would expand even more, opening up the opportunity to be a reliable, local financial partner for even more people. The bank realized significant growth, and in 1993 discussions began regarding expansion into other communities.
Thanks to the special dedication and conscientious work ethic of the bank’s employees, and the progressive vision of its Board of Directors, in 1996 the Teutopolis Banking Center, now known as Dieterich Bank – Teutopolis, and the Newton facility serving Jasper County was established. The Lake Sara facility opened soon after in November of 1999 inside a convenience store at the corner of Route 33/32 and Lake Sara Road in Effingham.
Now the bank had four locations, had grown to $100,000,000 in assets, and had forty-four employees. We were well established, poised to take on the new millennium with confidence and community spirit.
As the new millennium took hold, the community banking industry became increasingly competitive. Not only were community banks competing for market share, but the bigger regional and national banks were also viable competitors. Our values and our commitment to the people we serve never wavered; the bank continued supporting its communities through innovation, technology, and genuine customer service.
The bank’s growth, and our vision for the future, continued to grow. In 2007, the bank broke ground for a fifth banking facility located at 510 West Fayette Avenue in downtown Effingham, IL. The new Effingham facility opened its doors in May of 2008, and despite the economic downturn, the bank ended the year with $232,000,000 in assets.
In December 2009, the new stand-alone banking facility located at 10911 E. State Hwy. 33 in Effingham opened. The new full-service bank replaced the convenience store operation at Route 32/33 and Lake Sara Road.
In 2012, we completed our first acquisition. The First State Bank of Red Bud, and its branch in Belleville, IL, joined our operation in January and contributed $95,000,000 in assets to the bank. The new facilities have had a seamless transition into our culture. Their background was very similar to ours and working together seemed like a natural fit for the two organizations.
Later that year, we opened the Corporate Center in Effingham. We were presented with a great opportunity to purchase the old Ameren building. After some remodeling, the building served as home to the loan processing department and corporate staff. In mid-2015, the Operations Department also moved to the Corporate Center from its location in Dieterich.
Dieterich Investment Centers was established in February 2014, beginning with one location inside Dieterich Bank’s Effingham Branch. We were proud to add such a comprehensive investment program to our bank. This addition would allow the residents of Effingham and surrounding communities to have access to an array of financial products and services which could help them prepare for the future, including Retirement Planning, IRAs, Life and Disability Service and more. The broker-dealer for Dieterich Investment Centers is Commonwealth Financial Network.
In September 2015, the First National Bank of Dieterich simplified its name to Dieterich Bank. This change was not the result of a merger, but of character and loyalty. With hundreds of First National Bank of Somethings out there, we wanted to stand out and reflect who we are. The Village of Dieterich is part of our heritage, so it was only fitting that Dieterich is now our first name.
The Bank’s eighth branch officially opened in St. Elmo, Illinois, on September 14, 2015, in a temporary facility. On February 5, 2018, our newly constructed, permanent St. Elmo facility was opened at 423 E Cumberland Rd.
Dieterich Bank was chartered in 1909 as a national bank, and as of June 25, 2018, the bank officially converted to a state bank charter. This marks a significant milestone in the bank’s history, as we dedicated ourselves even further to the communities we serve.
Hoping to increase our ability to serve local businesses as well as individuals, a loan production office was opened in April 2020 in South County St. Louis. This would allow us to pursue loan opportunities in that area and continue to grow our commercial loan portfolio.
On February 24, 2020, Dieterich Bank announced that it signed a purchase and assumption agreement with First Bank, Creve Coeur, Missouri, to acquire five of First Bank’s Illinois branch locations. The branch offices are located in Breese, Chester, Columbia, Red Bud, and Waterloo, bringing with them approximately $221 million in deposits as well as fixed assets and some loans. The transaction was finalized on August 10, 2020.
In July 2021, the Bank officially finished expanding its footprint into the Metro East market with a new permanent branch in Edwardsville, Illinois. We are proud and very excited to bring the Dieterich Bank experience to the community of Edwardsville. The addition of this new branch makes Dieterich Bank a $1 billion community bank with 13 locations and over 170 employees!
For three years in a row, Dieterich Bank has received an award for being named a Best Place to Work in Illinois. Dieterich Bank has created a culture of opportunity for its employees and offers perks outside of the regular pay and benefits package that employees appreciate and enjoy. Talk to us today and experience for yourself what makes us a financial partner.