Peoples Savings Bank was organized August 13, 1935 in Rhineland Missouri as a locally owned independent community bank. Throughout the next forty years, the bank had steady growth and in 1971 built a new bank adjacent to the old bank building. The bank was threatened by the flood of 1973, but was protected by sandbags placed around the building by the hard-working people of the community. In 1978, an addition was built to keep up with the bank’s growth.
The bank continued to be a success growing throughout the 70’s and 80’s. In 1993 Peoples Savings Bank, along with the Rhineland community, survived “The Great Flood.”
The Missouri River rose out of its banks and broke the levees. The bank had three feet of water in the lobby in July and six feet in the lobby in August. The bank provided its customers with temporary branches in Hermann and Big Spring. Our employees were there with the rest of the community riding in johnboats across the swollen Missouri River in an effort to help the community cope through the disaster.
Once the floodwater receded, clean up began and over the next few years, many of the houses in Rhineland were moved to higher ground.
In 1995, Peoples Savings Bank also decided to move out of the flood plain and a new bank was constructed. Also in 1995, Peoples Savings Bank opened our first permanent full service branch in Hermann, Missouri. This branch houses the central operations of the institution. Growth began to accelerate at a pace beyond the bank’s beliefs.
During 1997, the bank was approved for a third location in New Florence, Missouri. The bank started the branch with a mobile unit. Growth was higher than anticipated and plans began for a new permanent bank.
In 2004 plans were initiated for two more facilities. Montgomery City became the fourth location of Peoples Savings Bank. New Haven was opened shortly after the Montgomery City location, giving us the opportunity to serve the people of New Haven and Franklin County.
September of 2011 Peoples Savings Bank opened its sixth location in New Melle, Missouri. This facility is in St. Charles County, adjacent to the State of Missouri owned Busch Wildlife Reserve.
Peoples Savings Bank added their seventh location in October 2013 by adding a second location in the St. Charles region. The WingHaven branch is located near the intersection of Hwy DD and Hwy 40 intersections.
Summer 2018, Peoples Savings Bank had the opportunity to acquire a new building location in Montgomery City, Missouri. This new building allowed for a move of the existing branch to 105 N Sturgeon.
In 2020, PSB would expand their foot print during a year of the COVID 19. In December of 2020, PSB purchased CBC Bank adding four more branches in Troy, Bowling Green, Clarksville, and St. Peters. PSB now has 11 branches across 7 counties.
You can visit a Peoples Savings Bank location in: Hermann, Rhineland, New Florence, Montgomery City, New Haven, New Melle, WingHaven, St. Peters, Troy, Bowling Green, & Clarksville.