HistoryOld Exterior Lobby

Since 1864, Grundy Bank has had deep roots in Grundy County.

  • Captain Sam Hull built his frame grocery store and 2nd floor residence in 1847. It had other tenants, but was moved to make way for the bank in 1867.
  • Mrs. Atwater & N.C. Pettey built the present 3 storefront 2 story brick building in 1867. The bank was on the corner with the Widney & Viner Hardware next south and also it wrapped around the bank with an opening on Washington Street. H.R. Green & Son had the 3rd store.
  • The bank building had major structural changes made in 1905, 1926, and 1964.
  • The improvements in 1926 were estimated on May 1, 1926 at $35,260. They were completed in October with a final price on October 12, 1926 of $37,247.
  • Grundy County National Bank was formed on June 3, 1864. The Board of Directors originated with five stockholders. There were 11 original stockholders.
  • The first meeting of the Stockholders was on September 16, 1864. The capital stock originated at $50,000 to be divided into 500 shares at $100/share.
  • In 1918, F.H. Clapp was President of Grundy Bank. He was elected the Grundy Chairman for the Grundy County Liberty Loan Committee. The Liberty Loan Committee was established to raise money for the federal government during the War. Quoted from an article titled Liberty Loan Publicity Campaigns, was the following: "The men who served on the central committees and on the principal sub-committees represented the most capable, experienced and influential men in their respective communities – financial, professional and industrial."
  • "The Grundy County National Bank" merged with "The Farmers & Merchants Bank" in 1931.
  • As of December 31, 1960 Capital Stock Common was $125,000, Surplus was $250,000 & Undivided Profits were $481,004.
  • It opened the first drive thru branch bank at Main & Franklin streets in 1967.
  • In 1982 Illinois Valley Bancorp, Inc. was formed.
  • Jewel branch opened February 1997.
  • Walmart branch opened July 1998.
  • The S-Corporation was formed 1998.
  • Opened Wilmington branch in November of 1999.
  • Grundy Bank became a state bank on June 28, 2002.
  • Currently 4th oldest bank in Illinois.

Click here for a letter from the President, Kevin L. Olson.

Community Friends, Financial Partners