March 20, 2018: At its annual meeting held March 19, 2018, the Warren-Boynton State Bank elected Lester Gray of Hettick to its Board of Directors. Mr. Gray spent many years on the board of the former Bank of Modesto and currently operates Gray Lumber in Modesto. His many years of business experience and bank board experience will be a valuable asset to Warren-Boynton State Bank.
Additionally, the following officers were reappointed in the Modesto/Palmyra market: Alvin Barrow, Senior Vice President; Todd Lucas, Loan Officer; Trista Woods, Assistant Vice President/Assistant Cashier; and Amy Huff, Palmyra Branch Manager.
The $174 million in assets Warren-Boynton State Bank is headquartered in New Berlin and has branches in Springfield, Modesto and Palmyra.
February 15, 2018: Warren-Boynton State Bank is partnering with the Sangamon County Circuit Clerk to bring the passport registration process to you. Come to our New Berlin branch on Saturday, April 28 from 9am - Noon. Contact the Circuit Clerk's office at 753-6674 or visit their website for more information about passport registration.
December 2017: Warren-Boynton State Bank was awarded a 5-star rating by Bauer Financial. In order to qualify, a financial institution must be financially sound and operating well above its regulatory capital requirements. Each institution on Bauer’s Recommended Bank Report has a tangible capital ratio greater than 6% and a total risk-based capital ratio greater than 10%. Five-star banks generally have twice the capital required by regulators. For more information on Bauer ratings, please visit www.bauerfinancial.com.
September 29, 2017: Warren-Boynton State Bank marks 140 years of service as a locally owned and independent community bank. The bank was established in New Berlin in 1877 and became state chartered in 1897. Warren-Boynton acquired the First State Bank in New Berlin in 1989. In 2004, a branch office opened on the west side of Springfield on Spring Mill Drive. Warren-Boynton expanded in July 2017 with the acquisition of Bank of Modesto, adding branches in Modesto and Palmyra, both in northwestern Macoupin County.
Warren-Boynton State Bank is a full-service bank offering loan services for farm, commercial, and consumer purposes as well as commercial and residential real estate loans. The bank has a comprehensive line of deposit products for both businesses and consumers including checking accounts, money markets, savings, IRAs and certificates of deposit. Warren-Boynton State Bank has a robust internet banking service including bill payment and My Money Manager, a personal financial management tool. Our smart phone app was recently redesigned and offers the latest features. The WBSB blog on our website includes over 15 helpful articles.
Our success over the past 140 years can be attributed to loyal customers and dedicated employees. Although many changes have occurred in the banking industry since 1877, Warren-Boynton State Bank remains committed to serving the financial needs of our customers and supporting the communities where we do business. Contact us today to see how we can assist with your banking needs.
July 24, 2017: We are delighted to officially welcome Bank of Modesto and Bank of Modesto-Palmyra branch customers to Warren-Boynton State Bank.
January 31, 2017: WB Bancorp, Inc. and its wholly owned subsidiary Warren-Boynton State Bank are pleased to announce it has reached a definitive agreement for the acquisition of 100% of MC Bancorp, Inc. and its wholly owned subsidiary, Bank of Modesto. Bank of Modesto is a full service bank and has locations in Modesto and Palmyra in Macoupin County. Warren-Boynton State Bank has locations in New Berlin and Springfield.
"We believe this is in the best interest of our customers and communities as the banking environment changes. We have known the people of Warren-Boynton for many years and believe they will continue the tradition of customer service and loyalty to the community that has been the hallmark of the Bank of Modesto for over 125 years," stated Phil Lovelace, President/CEO of Bank of Modesto. Jim Weast, President/CEO of Warren-Boynton State Bank indicated, "We are excited to be joining the two banks, as both banks are community focused institutions and have very similar cultures and values. This will be an excellent partnership going forward."
The combined banks will have assets of approximately $175,000,000 with deposits of approximately $140,000,000. The proposed acquisition is subject to regulatory approval and the approval of MC Bancorp, Inc.'s shareholders and is expected to close in the second quarter of 2017.