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Anderson State Bank: Things you need to know.

Most importantly we are a safe and sound financial institution. Anderson State Bank is well-capitalized. Capital serves as a “buffer” against any losses. To be considered well-capitalized, the banking regulators require a total risk-based capital ratio greater than 10%. All institutions in the state of Illinois have average risk-based capital of 12.47%. Anderson State Bank greatly exceeds that at 42.44%. In addition, Bauer Financial Reports, Inc. has awarded Anderson State Bank a Five-Star Superior rating, which is its highest rating. Five-star institutions are safe, financially sound, and are generally operating with twice the capital required by regulators.

We also try to keep things simple and fun. We work hard to take the complexity out of your banking experience. We have long term employees who know our customers, their kids, grandkids and even their pets. Generations of customers have banked at Anderson State Bank. Drop by any time and learn why.


Anderson State Bank’s operation spans three centuries of service to Knox and Henry counties. The Bank was opened in 1876 by A.B. Anderson. In 1917 the bank became incorporated under the name of Anderson State Bank.

Andrew B. Anderson came to Knox County in May 1852. A native of Scotland, Andrew first stopped in Victoria where he worked as a blacksmith, a trade he learned from his father. He came to Oneida in the summer of 1857 and continued his work as a blacksmith until 1864. He then entered the hardware business and in 1874 began his banking career at the age of 42.

A.B. Anderson’s son, John, joined the bank in 1889. John’s two sons and daughter would later join the family business - John Jr., in 1937 and Andrew in 1950 and Margaret became a director in 1939 and remained on the board until her death in 2013. John, Jr.’s son, Bill, is Chairman/CEO and Andy’s son, Dick, is President/COO.

Anderson State Bank remains a locally owned, independent institution today.