Member Spotlight: Bank of Springfield (BOS)
BOS Community Bank President Brian Hendrian says opening a branch office in Quincy in 2008 was a natural progression down Interstate 72.
“When we expanded into Jacksonville in 2000, we noticed that agricultural clients from closer to Quincy were coming to us for services,” says Hendrian. “Ag clients referred commercial clients, and the company believed there was a market here for us. As it turns out, we’ve grown faster than expected.”
Today, Bank of Springfield has outgrown its location at 1828 Broadway and is planning to open a new, full-service bank with a drive-thru later this year at 1111 Maine. The new location will have longer hours, a night drop box, ATM, and four to six additional employees.
Founded by Jack A. Marantz in 1965 as a neighborhood bank on Springfield’s southeast side, BOS has grown to a regional bank with nine locations in Illinois and more than $750 million in assets. Marantz’s son, Tom, now serves as Chairman of the Board and Chief Executive Officer.
“We cover a larger area, but we remain a community bank,” says Hendrian. “That means we provide personal customer service—you’ll always have a live person on the phone, never an automated system—and since we make all loan decisions locally, our customers will have decisions on their loan applications quickly.” The bank also sponsors community events and encourages employees to serve on boards and become active in local service organizations.
Bank of Springfield is a full service bank, offering checking, savings and Money Market accounts, certificates of deposit, consumer loans, mortgage loans and commercial and ag services. They also provide customers with experts in the areas of private banking, wealth management, trust and insurance. Online banking products for business can significantly reduce the time it takes to manage a company’s finances.
“Our online cash management software for business is phenomenal,” says Hendrian. “Not only can you complete payroll and accounts payable in minutes, but we also have a remote deposit program so you don’t even have to drive to the bank to make deposits. Tracking is easy, too, because the software is compatible with a variety of accounting software packages.
“We also have Mobile Banking that allows our customers to check their account balances and transactions from their cell phone,” he continues. “Later this year, we will be releasing an app for your Android or iPhone, too. Someday, this software will eliminate the need to carry a debit card. People will just ‘swipe’ the code on their phone to make a purchase. It will be like carrying your wallet in your phone.”
Bank of Springfield is open from 8 a.m.-5 p.m. Monday through Thursday, 8 a.m.-6 p.m. on Fridays and 8 a.m.-noon on Saturdays. For more information, call 641-5555 or visit www.bankwithbos.com.
