Philo Exchange Bank is a locally-owned bank dedicated to serving customers and communities. Philo Exchange Bank's history spans six generations of customers across east central Illinois. Started in 1883 by Dr. Calvin Ebeneezer Parker, the bank was purchased by Elisha Hazen, a local grain and implement dealer, in 1899.
In 2004, the two banks received FDIC approval to merge. When the merger was completed in 2005, the Allerton bank and its facility in Broadlands became facilities of Philo Exchange Bank.
Today, Philo Exchange Bank's personnel, facilities and range of services continue the tradition of friendly, caring community banking while demonstrating its viability for the future.