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Historical photo of Bank of Palmyra

Historical photo of Bank of Palmyra

History

HOMEBANK has its roots in Palmyra State Bank, formed in 1934 following the tragic closing of two Palmyra banks at the beginning of the Great Depression. Founders Albert L. Juette and Van B. Wilson raised $25,000 in capital to start the bank, but only after members of the Boots-Dickson Post of the American Legion pledged their support for “the right kind of bank” did the venture begin.

 

A poster printed by the Legion said they would only support “a bank that is for the interest of the people as a whole…the interest of the community…one that will instill with the majority of people a pride in the fact that it is their bank, of them and by them.” Palmyra State Bank passed the test. During the first day of business, the bank received $15,000 in deposits.

A month later, the amount had reached $111,000 and by the end of its first year, deposits totaled $333,000.

When Byron B. Webb, a retired St. Louis car dealership owner, purchased controlling interest in the bank in 1959, he recommitted to that “right kind” of community-oriented bank.

Branches of Palmyra State Bank were opened in West Quincy, MO in 1971 and in Hannibal, MO in 1997.

By 1980, the bank had grown to nearly seven times its original size and needed a larger facility. A massive colonial-style red brick structure was constructed at 400 Main Street in Palmyra and opened on June 24 of that year. The original building was donated to the City of Palmyra and is now the home of the Palmyra Public Library.

In 1999, the decision was made to explore opportunities across the Mississippi River, and the Bank of Quincy, IL was established. This bank quickly outgrew its space in the lower level of a local business complex, and land was purchased on the southwest corner of 12th and Broadway for a new building. The new facility opened on July 15, 2003, and a second branch opened at 305 North 48th Street on July 15, 2011.

Now under the leadership of the third generation of the Webb Family, HOMEBANK and Bank of Quincy merged in 2015 to form HOMEBANK as it exists today.

The HOMEBANK name was selected to reflect the Webb Family’s commitment to the bank’s original promise to be a bank “for the people” and one that instills pride in its hometown communities. The bank’s strength and security would continue indefinitely.

That strength was flexed in 2014 with the opening of a branch in Centralia, MO and again in 2017 with another branch in Canton, MO to service customers in those areas.

HOMEBANK Corporate Headquarters in Palmyra