BankIllinois will get new name this fall

BankIllinois will get new name this fall

CHAMPAIGN – BankIllinois will be getting a new name – Main Street Bank & Trust – this fall.

The new name comes as Main Street Trust prepares to combine its banks – Champaign-based BankIllinois, First National Bank of Decatur and First Trust Bank of Shelbyville – under a common identity.

Bank officials had considered a name change for several months and made its choice after consulting with focus groups and customers, said Van Dukeman, president and chief executive officer of the holding company.

"They liked Main Street because it said 'hometown' with a high degree of sophistication," said BankIllinois President Bob Plecki.

Main Street Trust's banks have offices in Champaign, Macon and Shelby counties. But the company's 10-year strategic plan includes expanding to similar markets in and around downstate Illinois.

The Champaign, Decatur and Shelbyville banks have geographic references in their names, but the Main Street Bank & Trust name has no such geographic limitation.

Although it will be the first name change for First National Bank of Decatur, it won't be the first identity change for BankIllinois. That bank resulted from the merger of Champaign National Bank and Bank of Illinois in the mid-1990s. Both of those banks had long histories in Champaign, with Bank of Illinois known for many years as the Trevett-Mattis Banking Co.

Under the new structure, Dukeman will become president of Main Street Bank & Trust. The presidents of the Champaign, Decatur and Shelbyville banks will hold similar titles for their geographic regions. Plecki will become president of the bank's Champaign County unit; Chris Shroyer, president of the Macon County unit; and Mike Defend, president of the Shelby County unit.

Recounting developments this week, Dukeman said the Main Street Trust board voted Monday to consolidate the banks and change the name of the bank subsidiary to Main Street Bank & Trust. The name was unveiled to bank officers after the meeting, and employees were informed Tuesday morning.

Letters informing customers of the change were sent out Tuesday, along with a list of answers to frequently asked questions. The information notes customers can still use BankIllinois checks after the new name takes effect.

Dukeman said the company plans to file an application with regulators Friday, with approval expected to take 30 to 45 days. Even so, Nov. 10 has been selected as the target conversion date.

Paul Donohue, the company's executive vice president of sales and marketing, said other names were considered during the deliberations. Those names included First Trust Bank, Midwest Bank & Trust, Midwest Trust and "a variation on the Premier name," he said.

The bank also introduced a new logo, which closely resembles the current BankIllinois logo of a Doric column inside an inverted triangle. The column image has been made more prominent, reflecting columns that are part of the Decatur bank's architecture, Dukeman said.

Main Street Trust Inc. has about $1.2 billion in assets, and its wealth management group manages about $1.5 billion in assets. Dukeman said he hopes those amounts grow to the $3 billion to $5 billion level over the next five to 10 years – but he emphasized that autonomy and decision-making will remain at a local level as the bank grows.

You can reach Don Dodson at (217) 351-5227 or via e-mail at dodson@news-gazette.com.

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