Tag Archives: community banking

PEOPLES BANK & TRUST CO. ANNOUNCES CHANGE IN LEADERSHIP

Peoples Bank & Trust Co. announced David W. Thompson is retiring as bank President and CEO. He will be succeeded by Justin St. Pierre, who most recently served as President of Lincoln County Bancorp. St. Pierre officially took on his new duties Jan. 1, 2019. However, to ensure a seamless transition, Thompson will remain working for a brief time before retiring from the bank on March 29, 2019. Thompson will retain his positions as Chairman of the Board of Directors for Lincoln County Bancorp and Peoples Bank & Trust Co. Scott Hufty has been selected for the office of President of Lincoln County Bancorp having served as Senior Accountant of Lincoln County Bancorp for the last 14 years.

“Now is the time for me to step aside and allow the next generation of bankers to take the helm,” said Thompson. “I have for several years been mentoring and training a team of wonderful individuals who are more than capable of advancing community banking to the next levels. They will serve Peoples Bank & Trust and Lincoln County Bancorp with distinction.”

Thompson, who joined Peoples Bank & Trust in 1977, has been a driving force in transforming Peoples Bank & Trust as a community bank with long-term, sustainable success. Under Thompson’s leadership, Peoples Bank has grown to $480 million in assets and expanded to a seven-branch bank with an eighth location opening in Cottleville, MO in Fall of 2019.

In addition to his leadership roles in the bank, Thompson has also devoted countless hours to many community and banking organizations including serving as Past President and Director of Missouri Independent Banker Association, Past Regent President and Regent of the Paul W. Barrett, Jr. School of Banking, Independent Community Bankers of America Committee Member, a founding board member of Lincoln County Missouri Habitat for Humanity, Director of the Lincoln County Resource Board and Director of the Mercy Health Foundation Board. In addition, Thompson was presented with the Troy Chamber of Commerce Man of the Year Award in 2018, in acknowledgment of his contributions to his local community.

In reflecting on his career, Thompson is most proud of the friendships he has gained over the last 41 years. “The daily interaction with customers and those that I work with has developed into lifelong friendships,” he said. “My employees are my family and I will honestly miss seeing them every day.”

Thompson plans to keep busy in retirement as he hopes to continue his involvement with civic organizations as well as become involved in the mission field through his church. He also looks forward to traveling and playing golf with his wife, Peggy.

About Justin St. Pierre

As President of Lincoln County Bancorp, Justin St. Pierre oversaw the operations of five community banks in Missouri: Peoples Bank & Trust Co., Bank of Louisiana, Exchange Bank of Northeast Missouri, Peoples Bank of Altenburg and New Frontier Bank. In addition, St. Pierre managed a holding company staff which provides internal banking services to all the banks such as IT, audit, loan review, investments and marketing.

St. Pierre worked as a bank examiner for the Missouri Division of Finance in 1996, before coming to Peoples Bank & Trust in 1998 as a loan officer. He then transitioned to internal loan review within the bank holding company, Lincoln County Bancorp, before becoming President of the organization in 2014.

As President and CEO of Peoples Bank & Trust Co., St. Pierre will be leading over 130 employees into the future of community banking. “I am honored to be a part of this next chapter of Peoples Bank,” said St. Pierre. “We have a talented team of employees that are dedicated to their positions and it is an exciting time to be working at the bank.”

“I am confident Justin has the knowledge, skills and leadership needed to guide Peoples Bank into the future and continue our success as a community bank,” said David Thompson.

Justin St. Pierre, originally from Louisiana, MO, is a graduate of the University of Missouri (1994) and the Graduate School of Banking (2001). He currently sits on the Board of the Missouri Independent Bankers Association, serves as a member of the Independent Community Bankers of America Safety and Soundness Committee and is the Board Treasurer of the First Christian Church of Troy, MO. St. Pierre resides in Troy, MO, along with his wife Christy and two children: Katie and Griffin.

About Scott Hufty

Scott Hufty managed the financial and tax reporting obligations of all five banks under the holding company umbrella in his role as Senior Accountant for Lincoln County Bancorp. When he transitions into his new position of President, Hufty’s duties will shift into overseeing bank affairs at a macro level and ensuring the operational needs of each chartered bank are met.

“I have worked alongside Scott for over a decade now and I am confident he will continue to guide the banks of Lincoln County Bancorp to future success,” said St. Pierre.

Scott Hufty is a graduate of Lindenwood University (2004) and a licensed Certified Public Accountant (2007). He lives in his hometown of Silex, MO with his wife Kelly and two children: Connor and Claire.

About Peoples Bank & Trust Co.

Peoples Bank & Trust Co. is a full service, independent, community bank serving the Missouri market areas of Pike, Lincoln and St. Charles Counties through seven branch locations, with an eighth branch currently under construction and expected to open in Fall of 2019.

Since 1924, Peoples Bank & Trust continues to provide full service banking solutions while maintaining the highest level of customer service. For more information or to see a complete list of products and services, visit our website at www.pbtc.net and follow Peoples Bank & Trust Co. on Twitter and Facebook. Member FDIC.

About Lincoln County Bancorp

Lincoln County Bancorp is a $800 million bank holding company based out of Troy, MO. It is the parent company of five independent, community banks in Missouri: Peoples Bank & Trust Co., Bank of Louisiana, Exchange Bank of Northeast Missouri, Peoples Bank of Altenburg and New Frontier Bank.

10 Financial Resolutions for 2017

Money Management

A new year brings exciting opportunities along with the promise of a fresh slate. Start 2017 off on the right foot with these 10 tips from Peoples Bank & Trust Co.:

  1. $1,000 Emergency Fund. Did you know most Americans do not have the savings needed to cover unexpected expenses or bills? By accumulating a decent emergency fund you have the potential to continue saving instead of withdrawing money from your monthly budget for each unplanned expense. Experts say to start with $1,000 and slowly work your way up to a three to six months’ salary of savings.
  2. Maximize Your 401(k). Employers who offer a 401(k) benefit often supplement it by matching a percentage of contributions. To take advantage of their FREE matching, start by contributing at least three percent of your income. Over time, increase it to the maximum amount. These funds will continue to grow over the coming decades and help you to build a well-rounded retirement plan.
  3. Start Saving in an IRA. Similar to the 401(k), an IRA is a great way to help you save money for your retirement. These accounts are not typically provided by your employer, but can be started through a bank or financial adviser. There are two options to choose from: A Traditional IRA  or a Roth IRA. A Traditional IRA will allow you to contribute pre-tax dollars and pay taxes upon receiving distributions at age 60. A Roth IRA will let you contribute post-tax dollars, but you don’t have to pay taxes when you receive distributions after age 60. Both options have a limit to how much you can contribute each year, so start with an affordable amount, and slowly work your way up to the maximum.
  4. File Your Taxes Early. Before the end of the year, every employee should receive their tax forms from their employers. With this information in hand, you can make an appointment with your local tax professional to determine your maximum refund. These funds can then be allocated towards paying down debt, contributing to your IRA, or deposited in your growing savings account.
  5. Save for Your Child’s Education. Children learn a great deal from their parents. Show them how to save, and get them involved with saving for their own education. By making automated transfers each month, you can ensure that you will have a designated amount to invest in their future. By incorporating this into an account like a Coverdell or 529 Plan, you can help these funds grow tax free. They can then be used for educational expenses like tuition, books, or computer equipment.
  6. Pay Off Your Credit Cards. Credit cards are notorious for having sky high interest rates. By paying off your debt quickly, you can save money. To help, our convenient calculator can determine how much you need to allocate each month for a debt-free 2017.
  7. Switch to a Community Bank. Community banks like Peoples Bank & Trust offer impeccable service without the hassle of unwanted fees. Staffed with experienced financial professionals, we have the tools to help you achieve your next financial goal.
  8. Save 10 Percent. Between your retirement, your child’s education, and your emergency fund, you should be covered for most of life’s unexpected expenses. While it’s great to save for the unexpected, having a fun goal to aim for makes the process more exciting by giving you a tangible experience to look forward to.
  9. Monitor Your Credit Score. One of the easiest ways to let your credit score dip is to forget about it! Comprised of payment history, number of accounts, and several other factors, one loose bill has the potential to compromise your entire score. The one federally authorized FREE credit reporting site, annualcreditreport.com, allows every American to have one copy of their credit report from all three reporting bureaus. This is a great tool to use annually; however, each month it is a good idea to check and see if there have been any changes. Many credit cards are now offering a service for this to help their consumers keep on top of their score.
  10. Create a Monthly Budget. Hands down the one change you can make with the biggest impact on your personal finances is to create a monthly budget. By allocating every dollar you earn to a role each month, you can ensure no money is wasted. This will also help you gain better insight into where you’re spending your funds giving you additional opportunities to find savings.

By accomplishing each of these goals in the New Year, you will complete the basic steps to attaining better personal finances. With the help of our dedicated team, you can begin today. Stop by one of our locations and see what your first step could be!

 

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

Community Banks: The Advantages of Banking Local

Banking Local

At Peoples Bank & Trust we pride ourselves on providing the best and most reliable service to our valued customers. Being a local community bank we offer unique insight into the inner workings of both commercial and personal financing, giving you, the consumer, the most bang for your buck. The next time you’re considering working with a locally operated bank, remember these important characteristics that truly make community banks stand apart from the rest.

Financing Farmers: Did you know that community banks make up almost 90% of all agricultural loans in the United States? By providing local producers with the capital needed to operate their business, banks like Peoples Bank & Trust are doing their part to help feed America.

Employing Citizens: With 51,000 community banks nationwide, the local banking sector employs approximately 700,000 Americans in their immediate areas, while also creating endlessly opportunities through their small business financing.

Rooted History: Knowing how to predict markets and financial tangibles is something that only time can teach. With more than 2,500 community banks stretching well over their first century, community bankers work together to share a wealth of knowledge when it comes to analyzing the past and anticipating the future.

Supporting Small Business: America was founded upon hard work and dedication. The idea that you can create anything you want is the dream. Community banks continue to help make those dreams happen by financing more than 50% of all small business loans within the United States.

Lasting Relationships: When working with a community banker you are not working with someone under the thumb of management, who takes months for approval. By banking locally with Peoples Bank & Trust you speak one on one with your lender, no red tape guarding your next financial decision.

There are volumes of reasons why banking local can help secure you a better financial future. This April we celebrate Community Bankers month to showcase the advancing capabilities of local financing institutions and the unparalleled service they offer. If you want to start banking locally with Peoples Bank & Trust, call us at (636) 528-7001 or stop by today!

 

Peoples Bank & Trust Co.

NMLS# 407724

Equal Housing Lender

Member FDIC