2024 Journal of Community Bank Case Studies

2024 COMMUNITY BANK CASE STUDY COMPETITION

SECOND PLACE

University of Illinois Springfield

Introduction This case study will look at one community bank, INB in Springfield, Illinois, and examine how it was affected by, and how it responded to, the bank failures of 2023. Through this case study, we will attempt to determine how INB is different from the banks that failed and how they are ensuring that they will be around to serve their community for years to come. History of INB The Illinois National Bank name has a long history in Springfield, going back to the late 1800s. In the late 1980s though, the bank was bought by a multi-bank holding company, which was sold to a larger bank, which was then eventually sold to an even larger bank. The Illinois National Bank name was lost along the way. Also lost was the focus on customer service found in a community bank. And so, in 1999, former employees of the original Illinois National Bank decided to start their own bank, reclaiming the name and the community-oriented approach that gave A Case Study in the Resilience of Community Banks: Evidence from Springfield, IL

Students: James M. Aldus Robert S. Lassiter Kurtis Wagner Advisors: Dr. Serkan Karadas David Saner

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