Originally compiled by past East Peoria Historical Society President, Frank Borror, in January 2015, with revisions July 2025

The First National Bank of East Peoria opened for business on June 1, 1903, with assets of $35,000, as the first financial institution in the Village of East Peoria. It was located in the Jochem Building on the southeast corner of Main and Washington Streets where the Centennial Bell Tower once sat. Founders included Hon. Joseph V. Graff, attorney and United States Representative from this congressional district for 18 years; A. B. Claudon, president of A. B. Claudin Bank of Fairbury; Herbert Railsback Dennis, former Superintendent of Morton Schools; Milton Mooberry, Groveland Township farmer; Moses Roth, Groveland Township farmer and breeder of purebred cattle and hogs; J.A. Ellis, farmer and grain dealer; and Samuel Mosiman, of the grain firm Moschell and Mosiman. Samuel Mosiman served as president of the bank until his death in 1909. He was replaced by Herbert R. Dennis, who was the only other man to serve as president. Dennis had his substantial home at 400 North Main, which was later razed for the construction of Interstate 74. 

In 1918, K. C. Snelling constructed a new building for the bank across the street at the north-east corner of Main and Washington Streets, and the bank moved in January 1919. The new building was a three-story structure 77 feet by 33 feet, with a full basement and was defined by the East Peoria Post as “East Peoria’s first Skyscraper.” It contained a “community room” measuring 18 by 32 feet that was available to local clubs and organizations for meetings. The new bank was located on the former site of the old Eagle Roller Mill, also known as the Blue Town Mill, operated by Henry F. Capps, which ground grain into meal and flour. Hon. Joseph J. Arnold, East Peoria’s well-known veteran, made the first deposit in the new bank building as he had done fifteen years earlier when the bank first opened. Arnold came to Fondulac Township with his family in the early 1850s and served in the Illinois 150th Infantry in the Civil War. The January 17, 1919 edition of the East Peoria Post had this to say about the bank: “The success of many farmers and merchants is due to the aid rendered them by our bank. Many East Peoria homes have been purchased and paid for by financial aid given at the right time, and our people surely appreciate it. The public spirit of the First National Bank is attested by the fact that the funds for the building of the Roosevelt school and the financing of the new Central High School building was (sic) furnished by the bank, and it has encouraged in a substantial way the paving of the principal streets and the construction of our modern water works.” The bank issued a calendar at that time with a service flag containing the names of 200 local men who served in World War I. The Historical Society has a copy of that calendar, and it is on display at its museum. 

The year 1933 bore witness to much economic and financial turmoil, and prompted President Roosevelt to enforce a variety of measures aimed at stabilizing financial institutions in the hope of stemming the growing tide of unease and panic among American citizens. A casualty of this era was the First National Bank of East Peoria. It was not strong enough to survive the scrutiny it was placed under by the government, and it was forced to cease operations. The following year, a new bank, First National Bank in East Peoria, was formed and assumed all of the assets of the old bank, including the bank building. The new bank remained in the building until 1965, and the building was razed for the widening of Main Street in 1985.