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Financial Security Since 1854 

Our History

Trust in a bank develops over time - not in a few months or years, but over decades, and in some cases, centuries. Cornerstone Bank & Trust, N.A. began operations in the mid-nineteenth century and continues to be a "cornerstone" of financial security in the twenty-first century. Established in 1854, Cornerstone appears to be the oldest active bank headquartered in Illinois. (Source: the FDIC Institution Directory, a national database of FDIC-insured banks)

Our Founders

When the bank was first established in 1854, it was operated out of David Pierson's mercantile on the east side of the public square in Carrollton, Illinois. The first bank in Greene County, it was initially called simply "David Pierson, Banker." Pierson owned the first iron safe in the county and made it available to those who wished to store money securely. Many of the local farmers were paid in gold and silver coins for the livestock and grain they shipped to St. Louis via the Illinois River.

In January 1858, Pierson disposed of his dry goods business to devote all his attention to banking. The following year, he had a three-story brick building erected for his bank on the northwest corner of the Carrollton square, on the south side of North Main Street. It was the first three-story building on the square.

By 1875, all three of Pierson's sons (Ornan, Robert, and David D.) had joined him in the business. The firm was known as "David Pierson & Sons," and the bank was called "Pierson's Exchange Bank."

When David Pierson decided to retire from active participation in banking in the late 1870s, a successor organization was formed. A national charter was granted, and the bank started operating as Greene County National Bank in 1878. The Pierson sons served as officers and directors, providing continuity with Pierson's Exchange Bank. Two later generations of Piersons would be involved in the bank's management until 1994, when board member Julia Pierson, great-granddaughter of founder David Pierson, passed away.

New Building

In 1905, a two-story building was constructed for the bank across the street in Carrollton: still on the northwest corner of the public square but on the north side of North Main Street. This structure serves as the east wing of the bank's current Carrollton facility.

New Charters

In 1918, bank officials allowed their national charter to expire so they could replace it with a state charter. The bank's new name was Greene County State Bank. One of the main reasons for the change was that state banks could loan more money to individual farmers than national banks could - an important consideration in a largely agricultural community.

By 1935, though, regulations had changed, and the bank chose to become nationally chartered again as Greene County National Bank in Carrollton. It has remained a national bank ever since.

Expansion

In 1977, work began on a major addition to the west side of the bank. The teller area was enlarged, and new drive-up lanes were constructed. The old and new wings of the building were connected by a narrow corridor to preserve two centuries-old trees.

For the first 142 years of its existence, the bank had only one office: in Carrollton. Near the end of the twentieth century, the bank expanded into Jersey and Madison Counties. A Jerseyville facility (originally called First Community Banking Center of Jersey County) opened at 533 South State Street in March 1996; a new, three-story facility in Alton (near Alton Square Mall), in October 1999.

New Name

As the bank grew, the name "Greene County National Bank in Carrollton" no longer described the bank's service area. To better reflect the bank's involvement and growing presence in more than one community, its name was changed to Cornerstone Bank & Trust, N.A. in April 1999. "Cornerstone" denoted strength and stability, "Trust" signified the offering of trust services, and "N.A." (short for "National Association") indicated the bank's national charter.

New Ownership

In October 2003, Cornerstone Bank & Trust, N.A. was purchased by Carlinville National Bank Shares, Inc. (CNBS), based in Carlinville, lllinois. Like Cornerstone, CNBS is committed to community banking. Its four affiliate banks, all located in south-central Illinois, have separate names and charters and are involved in their own communities. In addition to Cornerstone, they include Carlinville National Bank, Palmer Bank, and Citizens State Bank. Cornerstone "after the sale" looks very much like Cornerstone "before the sale" since all officers, directors, and employees were retained.

A Look Back, A Look Forward

The bank has had a number of different names through the years:

1854 - David Pierson, Banker (or David Pierson's Bank)
1874 - Pierson's Exchange Bank (David Pierson & Sons)
1878 - Greene County National Bank
1918 - Greene County State Bank
1935 - Greene County National Bank in Carrollton
1996 - First Community Banking Center of Jersey County (name of the Jerseyville facility only)
1999 - Cornerstone Bank & Trust, N.A. (all 3 facilities)

Regardless of the name, throughout its rich history, the bank has sought to meet the needs of the communities it serves. In 1855, this meant purchasing an iron safe so that Carrollton farmers would have a secure place to store the gold and silver coins they received from selling livestock and grain. In 1978, this meant being the first bank in Greene County to sell motor vehicle license plates and stickers "over the counter" so that customers could save themselves a trip to the driver's license facility. In 2005, it meant establishing an internet banking site to offer customers the convenience of online banking and bill paying.

"Whatever the future holds," said CEO Larry Franklin, "Cornerstone Bank & Trust, N.A. will be there to provide friendly personal service and the products our customers want and need. The bank has endured for more than 150 years. We look forward to providing financial security to our area for many more years to come."