MidAmerica National Bank History

In the years immediately following the stock market crash of 1929, Canton, Illinois was greatly affected by the closing of its two banks, The First National Bank and the Canton National Bank. On June 28, 1933, the stockholders of the two banks met to discuss the situation. Upon the recommendation of federal authorities, it was decided to form a new banking organization, the National Bank of Canton. Deposits of the two banks would be gradually released over a period of time, but these stockholders recognized the necessity of organizing a new bank for the good of the community as soon as possible. W.H. Barney was named chairman of this group and announced that $100,000 of new capital would be needed to start the new bank.

Toward the end of August 1933, there was a meeting of 125 committee members and other persons interested in promoting Canton's new bank. Conservators, G.W. Smith and Howard G. Heald explained the organization had the approval of the officials in Washington, D.C. Incorporators, S.A. Drake, B.M. Chiperfield, W.J. Spencer, Don Houston, W.P. Ingersoll, Warnie Wolf, E.C. Vittum and H.B. Heald were named as directors of the bank until stockholders could elect a new board.

The newly organized National Bank of Canton opened for business on November 22, 1933. During the first hours, long lines were crowded at all teller windows. The new bank had five tellers on that first day: E. Hilton Mercer, Russell C. Armstrong, E.R. Reeder, Mark Bybee, and Carl W. Parker, names that are well-known and well-remembered in the community today. The new bank was open only two days before closing for the Thanksgiving holiday, a welcome break in their busy schedule. The tellers worked long hours on those first days, often until past midnight tabulating the business of the day. It was announced that deposits during these first days exceeded withdrawals by ten to one. At the end of the first week, total resources of the bank were $770,432.

The desire to serve the community and its residents was the guiding influence in the history of The National Bank of Canton.

The National Bank of Canton purchased the State Bank of Cuba, January 12, 1987, and The Lewistown Bank was purchased March 2, 1987. Additionally, The National Bank of Canton purchased Union National Bank in Macomb, July 1, 1997, bringing local ownership back to that area.

On January 20, 1998, the Board of Directors for the National Canton Bancshares, Inc., voted to update the name of The National Bank of Canton to MidAmerica National Bank to better reflect the markets we serve and the products we offer.

MidAmerica National Bank is a full-service community bank with approximately 450 shareholders throughout the communities we serve. Local decision making and community involvement in each banking center is our trademark. The growth and success of our customers' communities is the goal of MidAmerica National Bank.