Bonan: Bank in Wood Building for long term

 

By JIM MUIR

Much like Mark Twain … news of the death of Peoples National Bank on the Benton Public Square is much exaggerated.

Bill Bonan II, president of the PNB facility located in the historic Wood Building, said the confusion about the future of the downtown location started when it was announced that a new banking branch would be added in West City, in the Rend Lake Shopping Plaza.

Bonan said with the new renovation project in West City at the facility that formerly housed Auto Credit, he and other employees of PNB have received numerous inquiries about the future of the Wood Building facility.

“The point I want to stress is that we are not moving off the square,” said Bonan. “First, we have too much invested in the facility to just walk away. We put a lot of money in the Wood Building, and we are not going to get a dollar return on that money, that was done to better Benton. It was an eyesore for many years and we’re proud that the building was saved from demolition. But, I want to emphasize that we made a commitment to Benton that we are here in the Wood Building long term. And when we say long term we are not talking five years, we’re talking 50 years.”

Bonan stressed that he has a personal stake in the Wood Building facility.

“I have a personal interest because I live on the top floor of the Wood Building, my home is here on the top floor,” Bonan said. “I don’t have another house, I’m here … this is my home. My wife and I love living in Benton, we like the people of Benton and Franklin County.”

However, Bonan stressed that the new West City location, which is scheduled to open on January 8, will provide PNB customers and new customers another full service facility.

“The facility in West City is a full-service facility that can operate by itself, it will be fully-staffed,” Bonan said. “So, a person could actually go to the facility in West City and take care of any banking business they have and never have to drive in town.”

Bonan said part of the reason for the expansion came from comments concerning traffic that is sometimes clogged in Benton because of construction or accidents on Interstate 57. A second reason is that West City does not have a banking facility.

“One of the biggest complaints we get is the traffic in the downtown area is sometimes heavy and its just hard to get here, people don’t have time.,” said Bonan. “This is only for the convenience of our customers and the room for expansion is certainly here so we recognized that. West city doesn’t have a bank until we open, so we are proud to be the only bank in that community.”

Bonan said PNB entered into a long term lease for the building that is located immediately across the street from Applebees.

PNB has 20 employees at the facility on the Benton Public Square and will add an additional 12 employees – 11 of them full-time – when the new West City branch office opens.

The new West City location marks the 20^th banking facility owed by PNB in Southern Illinois and the St. Louis metropolitan area.

“We are proud to offer the folks in West City and all of Franklin County another banking facility but we are open for business and will be for a long time in the Wood Building.,” Bonan said. “It is something that is very important to us.”