Bank History
After nearly three and a half years of effort, a core group of investors successfully organized 233 shareholders to raise $1.2 million in total capital required by the State of Illinois Commissioner of Banks and Trust Companies to start the bank. This was a very unique situation, a "start-up" bank opening in a rural community that already was home to another bank, a savings and loan, and a credit union. The original organizers who would also serve as directors were Fred McCullough, Eldon Christensen, Walter Arends, David Gill, Robert Jones, Harry Tjardes, George Tjardes, Kermit Hustedt and Robert Royal.
The first meeting of Bank of Gibson City shareholders was called to order on January 22, 1979. The bank charter was issued on February 21, 1979 and Ford County's newest bank officially opened its doors for business April 1, 1979.
At that time, the bank was housed in a temporary modular building until a permanent facility could be constructed nearby. The bank moved into the new building in August of 1980. As the bank continued to grow, it became apparent that additional space was needed so in 1995 a 3000 square foot addition housing the bookkeeping department was completed. In 2006, a lobby renovation project was finished.
On April 11, 2000, shareholders approved the reorganization of the bank into a bank holding company structure. Shares of Bank of Gibson City stock were exchanged for shares in the bank holding company, BGC Bancorp, Inc. To date Bank of Gibson City remains the only bank within BGC Bancorp, Inc.
Bank Officer History
Original bank officers were President, Fred McCullough and Vice President and Cashier, Lee Cordes. Following Fred McCullough's retirement, Lee Cordes was named President at the February 1986 annual bank reorganization meeting. Other bank officers elected at that time included Tracy Epps, Cashier, Sue Everett and Mary Wurmnest as Assistant Cashiers. At the April 2000 annual bank reorganization meeting, Tracy Epps was named to succeed Lee Cordes who retired as President. Additional bank officers were Sue Everett, Vice President and Cashier, Jody Bane, Vice President, Scott Reynolds, Assistant Vice President and Loan Officer, Lisa Gregerson, Assistant Vice President, and Barb Nagle, Assistant Cashier.
