The Peoples Bank Reports Financial Growth To Begin It’s Centennial Year

In 2019, The Peoples Bank will be celebrating its 100th year of service to Jackson County residents. Bank president Wm. Mark Norman told members of TPB Bancorp, the parent company of The Peoples Bank, and others present at its annual stockholders’ meeting on April 8.
Giving some of the history of the institution, Norman said, “Our institution was originally chartered in 1919 as the Brownstown Loan and Trust Company. The Peoples Bank was formed in 1965 with the merger of the Brownstown Loan and Trust Company and the First National Bank of Brownstown.”
In conjunction with the bank’s 100th year of service, a new logo was unveiled in January.
“The new, redesigned logo serves as a shining example that The Peoples Bank has the most modern banking tools and products for our customers,” said Norman. “We wanted our logo to match our well-established institution to show that not only do we offer the most modern products, but we also have a logo with a timeless look. We believe this a step in the right direction for our growing bank and moving forward with the most modern banking products for friends and neighbors.”
Norman encouraged customers to utilize the website for current information, to contact bank officials, and learn about the institution’s other internet services.
Robert M. Branaman, Executive Vice President and CFO, recapped company annual report for 2018;
He noted the assets of the bank at the end of 2018 were $211,519,593 as compared to $208,835,669 at the end of 2017. Net income for the year was $1,732,089 as compared to $1,595,694 in 2017. Earnings per share for 2018 were $3.51 compared to $3.23 in 2017. Book value per share at the end of 2018 was $38.71.
“The dividends of the Company in 2018 totaled $691,772 or $1.40 per share as compared to $642,340 or $1.30 per share in 2017,” Branaman said, noting “Recent stock sales had been ranging from $44.00 to $45.00 per share.”
Stockholders also re-elected directors Steven L. Ackerman and Scott E. Butt to three-year terms to the Board of Directors.
During the Board of Directors meeting, the following officers were re-elected to TPB Bancorp as officers for the holding company: Jeffrey A. Nierman, Chairman of the Board; Wm. Mark Norman, President; Robert M. Branaman, Corporate Secretary/Treasurer; Deborah A. Roll, Recording Secretary.
Re-appointed as officers of The Peoples Bank were Wm. Mark Norman, President & CEO; Robert M. Branaman, Executive Vice President & CFO/Trust Officer; M. Randall Butler, Vice President/Comptroller; Brian L. Sommers, Vice President/SR Loan Officer/Security Officer; Deborah A. Roll, Vice President/Administrative Assistant/Board Recording Secretary; Julie Cornett, Vice President/Auditor/Head Compliance Officer, Bryan Stahl, Vice President/Manager IT Services/Operations Officer, Michelle Taulman, Vice President/Loan Officer/Branch Operations, Will Spray, Assistant Vice President/Ass’t Trust Officer/Credit analysis Officer/Ass’t Security Officer and Brenda Hughes, Assistant Vice President/Mortgage Loan Officer.