History of the State Bank of Cherry

  • On May 7, 1906,  H.C. Haugan, John W. Blee, and Charles L. Connolly were granted permission to organize a bank under the laws of the State of Illinois. This bank became known as the State Bank of Cherry.
  • At the time of founding there were nineteen original shareholders. These shareholders started the bank with a combined total of $25,000.00.
  • As with most of the Illinois Valley and surrounding area, the main business was coal mining.  In the beginning years, this coal mining was the element the bank was built around.
  • Mr. John W. Blee was president until 1929. Cashier of the bank from the very beginning was Mr. Charles L. Connolly.
  • Mr. Michael H. Flaherty was President from 1930 to 1964.  He sucessfully guided the bank through the Great Depression.
  • In 1950, Mr. Burton Waite became Cashier.
  • In 1964, Mr. Howard Lewis became President and Mr. John T. Connolly was named Cashier.
  • In January of 1974, Mr. John T. Connolly was named President and Miss Catherine Zanarini was named Cashier.
  • An addition was built on to the bank building in 1960.  In 1973 a new building was constructed to the south of the bank. This was to be the new home of the State Bank of Cherry. In 1979 the old bank building was demolished and an addition was added to the building constructed in 1973.  This structure is now the location of the bank at 110 South Main Street.
  • Mr. Daniel L. Carrico was named President in 1992. Miss Catherine Zanarini remained as Cashier.
  • In November of 2004, Miss Zanarini retired. Mrs. Judie Hahn, Assistant Cashier, was named Cashier. Mr. Carrico remains as President.
  • In May of 2006, the bank celebrated 100 years of faithful service to the community.  It has been the people of Cherry and of the Illinois Valley who have contributed to this success through their friendship and loyalty.
  • In January of 2017, Mr. Howard Raef and Mrs. Judie Hahn retired after 38 years of service.
  • In March of 2017, Mr. Daniel Carrico retired after 25 years of service.  At the same time, Mr. Daniel Wujek was named President and Mr. Joseph Stouffer was named Vice President / Cashier.
  • The continued success of the bank is due to the loyal customers who support us in so many ways.

 

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