Gifford State Bank buys ex-Busey facility in Thomasboro
THOMASBORO – Gifford State Bank has bought the former Busey Bank facility in Thomasboro.
First Busey Corp. closed the bank along with the Busey main bank on Sangamon Avenue in downtown Rantoul in May.
Gifford State Bank President Tony McLain said the purchase of the Thomasboro branch includes the 4,000-square-foot building and a front lot east of the building. The bank will erect an electronic message board on that lot. The bank will allow village- and school-related announcements to be placed on the message board.
The building will be renovated and the lobby, which had been closed for several years, reopened. Bank business in recent years had been strictly at a drive-up window, McLain said.
The branch will employ four, including a loan officer, two full-time tellers and a part-time teller.
Customers will be able to open certificates of deposit and accounts and make loan applications, McLain said.
He said bank officials will meet with an architect, and it is hoped the renovation will begin within 30 days.
The village of Thomasboro had leased a portion of the building for its offices, and McLain said that will continue. McLain said about 2,100 square feet of the building is used by the village as a place to pay water bills as well as for village offices, including police.
Tony Grilo, Thomasboro village board president, welcomed the acquisition of the property.
"We were ... disappointed when Busey announced the closing, but we certainly understand that with the current economic environment they had to make some changes," Grilo said. "We hate to see them go. They treated us very well as far as using the village hall."
Grilo said village officials are looking forward to having Gifford State Bank in Thomasboro. "Gifford State Bank is certainly one of the most respected banks around," he said.
The bank was built in 1976 by First National Bank of Thomasboro. Don Schlorff of Busey Bank said it was sold to Busey Dec. 31, 1985.
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