Goodfield State Bank

History

In December of 1914, W.R. Simpson, Byron Colburn, and S. E. Naffziger began what is currently Goodfield State Bank. Patrons conducted banking business in one corner of Mr. Naffziger's store until a building was completed in 1915.


Goodfield State Bank was incorporated under the banking laws of the State of Illinois in December of 1920 and opened as a state chartered institution on January 3, 1921, with assets of $123,000. The bank's assets continue to grow and reached 100 million in 2015.


Goodfield State Bank remains an independent financial institution. In 2003, Goodfield Financial Corporation, a bank holding company was formed and shares of Goodfield State Bank exchanged for Goodfield Financial Corporation shares. Then in 2007, the shareholder's elected to become a Subchapter S corporation. There are currently over 220 shareholders, with the majority of shares owned by individuals with ties to the local communities.


The original facility was improved over time and the bank operated from the location until August 2001, when the bank opened a new facility on the corner of Route 117 and Route 150 in Goodfield. In 2007, Goodfield State Bank opened its first branch in a leased space in Eureka and continues to conduct business at this location. The bank opened its third location in the summer of 2013 with a new building in Metamora.


Locally owned and managed, Goodfield State Bank provides a full range of banking services to meet our customer's needs.