Illinois National Bank Names New President
Sarah C. Phalen was named President and CEO of Illinois National Bank (INB) effective January 1, 2011. The announcement was made by James P. Bruner, President and CEO of Illinois National Bancorp and interim President and CEO of Illinois National Bank. Bruner, a bank shareholder and director, stepped into a temporary leadership role when INB’s founding president Richard K. McCord retired earlier this year.
Phalen is an original member of the very successful management team that brought Illinois National Bank back to the Springfield area in July 1999, and has nearly 20 years’ experience in the banking industry. She is a graduate of the University of Illinois at Urbana-Champaign and holds a Master of Business Administration (MBA) from the University of Illinois at Springfield. She is also a Certified Treasury Professional. Currently, Phalen is responsible for the implementation of contracts and daily account relationships of large governmental and corporate cash management customers. She has also been responsible for the retail department, including the sales and operations of all twelve INB branches, mortgage, indirect lending and marketing. She is a Sherman native, and resides in Springfield with her family.
There was no question that the bank presidency would go to an internal candidate, according to Bruner. “We started this bank nearly twelve years ago, with a solid senior management team and a core group of 20 employees. Directors and senior management have worked in a very cohesive fashion to grow the footprint of the bank, and our employee family has expanded in like fashion. The directors all agreed to promote from within the company.”
In addition to Bruner, other INB directors include James V. Antonacci, Peter B. Fox, Richard H. Levi, Timothy J. Nicoud Sr., Carolyn B. Oxtoby, Sergio “Satch” Pecori, and Charles E. Robbins. Bruner and Antonacci, who retired as a full-time employee last year, maintain offices at the main branch. Members of INB’s senior management team include Tom Gihl, Pat Phalen, Brett Tiemann, and Andy Herrera.
As for the future, Sarah Phalen knows it will take a team effort to navigate the years ahead. “We’re blessed to have such talented and committed directors and staff. The past few years have been hard on our industry as a whole, and we anticipate numerous regulatory changes in the months ahead. Our commitment remains strong to our customers and the communities we serve.”
Illinois National Bank is based in Springfield, and operates a total of 12 branches and a remittance processing center in central Illinois. A locally-owned bank, INB provides a full range of traditional banking services to individuals and businesses, including commercial and retail banking, trust and brokerage, cash management, Internet banking and remittance processing.
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