Ayers Bank Building
| Industry | Banking |
|---|---|
| Founded | 1832 |
| Fate | Shut down by federal authorities in November 1932 |
| Successor | Farmers State Bank & Trust Company (from 1939) |
| Headquarters | Jacksonville , United States |
| Products | Banking services |
The Ayers Bank Building stands as a historic banking establishment situated at 200 West State Street in Jacksonville, Illinois. This location has been the site of uninterrupted banking services since 1832, marking it as the longest-running banking venue in the state of Illinois.
History of Ayers Bank Building
Banking operations commenced in this location during the 1830s when David Ayers managed a merchant bank within his drugstore. Throughout the 19th century, the Ayers family continued to oversee banking activities at this address. By 1910, with Millard Fillmore Dunlap and Andrew Russel assuming control, Ayers Bank had become one of Illinois' premier financial institutions. They engaged Chicago architect Jarvis Hunt to design and build the present Ayers Bank Building on this historically significant site.
The institution thrived until the 1930s, when Dunlap and Russel were found guilty of unlawful banking practices, resulting in a federal shutdown in November 1932. At that time, depositors were reimbursed only 33 cents on each dollar.
In 1939, Farmers State Bank & Trust Company purchased the property for $53,000 through foreclosure. The building's upper floors were rented to healthcare providers until 1985, when Farmers undertook renovations to occupy the entire structure exclusively. As of 2017, Farmers continues to operate its headquarters from this location.
On November 20, 1986, the building was officially entered into the National Register of Historic Places.
Building architecture
Rising eight stories and reaching a height of 110 feet, the Ayers Bank Building is the tallest structure in downtown Jacksonville. It was also the city's inaugural building constructed using a steel-frame and reinforced concrete system. The design showcases Renaissance Revival architecture, characterized by a brick and cut stone facade complemented by a terra cotta egg-and-dart cornice.