Citizens State Bank of Peotone, Illinois
From: History of Will County, Illinois
By: August Maue
Historical Publishing Company
Topeka-Indianapolis 1928


The Citizens State Bank of Peotone. - The Citizens Bank of Peotone was established in 1887 as a private banking house by L. H. Lineberger, and was purchased by Michael Collins in 1892. Following the death of Mr. Collins in 1912 the business was continued by his son, Paul M. Collins, who had been associated with his father from the beginning.

The Bank of Peotone was established in 1902 by William Yung, Elijah Esson, and E. H. Fedde. It was also conducted as a private financial institution. In January, 1921, the Citizens Bank of Peotone and the Bank of Peotone were consolidated as the Citizens State Bank, with a capital of $30,000.00. The following officers were elected: Paul M. Collins, president; E. H. Fedde, vice president; H. P. Yung, cashier; and F. J. Hinrichs, assistant cashier. The Citizens Bank brought to the consolidation deposits amounting to $400,000.00, while the Bank of Peotone contributed about $200,000.00. Since that time the deposits of the merged institution have gradually increased until they now total $475,000.00. It has correspondence relations with the First National Bank of Joliet, and the Illinois Merchants Trust Company of Chicago.


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