.jpg?sfvrsn=a38cbf30_0 "Our History")
Banking Made Better
Since 1898
The rich history of Better Banks dates back to 1898 when Dunlap Bank was founded. Since then, we’ve expanded to serve eight communities: Peoria, Dunlap, Morton, Chillicothe, Bartonville, Wyoming, Astoria, and Glasford. We continue to remain true to our founder's philosophy to “remain a strong, locally owned, community bank” with a complete line of financial solutions aimed at providing efficient, convenient, and friendly service so you can spend more time doing what you love.
In 1957, B.F. “Chip” Backlund, a Senior Bank Examiner, joined Dunlap Bank as an Executive Vice President. He became President of the bank in 1967 and later Chairman. Chip recognized the importance and need for locally owned community banks and orchestrated the purchase of Glasford State Bank in 1965, Wyoming Bank in 1967, Bartonville Bank in 1970, and Farmers State Bank in Astoria in 1979.
Better Banks has deep roots, and as we grow, we continually reflect on our history and how it has shaped us into the company we are today.
Bartonville Bank, founded in 1918, and Wyoming Bank, founded in 1935, shared the same banking philosophy as Dunlap: to be pillars of strength and stability, serving the banking needs of their respective communities with loyalty, honesty, and dignity.
Seeing the need for additional locations, enhanced services, and more products, Chip’s youngest son, Steve Backlund, directed the opening of Bartonville Bank II on Garfield in 1982 and Dunlap Bank II on North Knoxville in Peoria in 1990. Steve organized the purchase of the First National Bank of Chillicothe in 2014 and the opening of the Morton location in 2017.
Glasford Bank merged with Better Banks in 2022. Both were part of the holding company Backlund Investment Company, established by Steve Backlund in 2003.
While further strengthening the bank overall, the bank combinations enable us to offer customers an enhanced range of products and services, as well as provide additional locations and ATMs for added convenience.
Historical Timeline
1898 – Dunlap Bank formed in Dunlap, IL.
1933 – Dunlap Bank remained open during President Roosevelt’s 4-day banking holiday. (Also known as the Emergency Banking Act of 1933)
1957 – B.F “Chip” Backlund, former Senior Bank Examiner, joined Dunlap Bank as Executive Vice President.
1967 - Chip Backlund became president of Dunlap Bank and purchased Wyoming Bank. (founded in 1935 in Wyoming, IL)
1970 – Bartonville Bank, founded in 1918 in Bartonville, IL, joined Dunlap and Wyoming Bank.
1986-1992 – Chip Backlund served on the board of directors of the Federal Reserve Bank of Chicago.
1979 – Steve Backlund, Chip’s youngest son, joined Dunlap Bank.
1981 – Steve Backlund was named Vice President of Dunlap and Bartonville Banks.
1982 – Bartonville Bank opened a second location on Garfield Avenue in Bartonville.
1990 – Dunlap Bank opened a second location on North Knoxville Avenue in Peoria.
2002 – Steve Backlund named CEO and Chairman of Bartonville Bank.
2003 – Backlund Investment Company was formed as the holding company for Dunlap, Bartonville, and Wyoming Banks.
2004 – Dunlap and Bartonville Banks were combined to form Better Banks.
2006 – Wyoming Bank joined the Better Banks group.
2011 – Farmer’s State Bank of Astoria joined Better Banks.
2014 – First National Bank of Chillicothe was acquired and became a Better Banks branch.
2016 – Mike Stratton was named President of Better Banks.
2017 – Better Banks opened its 8th branch in Morton.
2022 – Glasford State Bank becomes part of Better Banks.
2025 - Mike Stratton was promoted to CEO, and Marvin Streitmatter was named President of Better Banks.
