History of Peoples State Bank
The Story of the Founding, Life and Growth of Peoples State Bank
Let's Start a Bank … 1913
Every community has leaders. Two of them were E. C. Dillon, the oldest native of Many, and John H. Boone, a successful practicing attorney. They were men discussing business proposals, while at the same time wanting to do something for the town and parish in which they lived.
"Let's start a bank," said Mr. Dillon. The idea was mentioned to a few friends and the result was that within a short time the proposal accumulated the endorsement of enough men with capital and foresight to convert the street remark into a reality.
Consequently, a new bank was born named The Peoples State Bank. Since that time, The Peoples State Bank has been all that its name implies. Its officers and directors have been leaders of Sabine Parish and have appreciated the confidence and respect of the individuals and firms it has served through the years.
The original officers of the bank were E. C. Dillon, President; J. H. Boone and P. H. Lester, Vice Presidents; O. O. Cleveland, Cashier. The first Board of Directors included E. C. Dillon, J. H. Boone, O. O. Cleveland, P. H. Lester, J. G. Montgomery, G. C. Addison, John A. Hoagland, S. C. Cade, J. H. Phares, F. R. Aaron, R. M. Mitchell, D. D. King, and J. A. Taylor.
E. C. Dillon served as President until his death in February 1934; J. H. Boone, as Vice President until his death in April 1932. John J. Blake was elected Cashier in October 1914, and served in that capacity until October 1934.
Following the death of Mr. Dillon in 1934, John. J. Blake was named President; R. J. Lucius, Vice President; and J. B. Vandegaer, Cashier. J. M. Jordan was elected Cashier in August 1942, and Executive Vice President in 1962. J. R. Jordan, who was employed in November 1949, was elected as Manager of the new Zwolle branch in 1953. The first location of the Zwolle branch was on the corner of Port Arthur and Hammond Street. John J. Blake, Jr. was employed in March 1948, and was elected Cashier in 1962.
The bank began a new chapter in 1967, as John J. Blake, Jr. was elected the new President of Peoples State Bank. Like his father before him, John J. Blake, Jr. had also served as Cashier before being promoted first to Executive Vice President, and then to President.
In 1976, under the direction of John J. Blake, Jr., the Zwolle branch was relocated to a new building, its present location, on Highway 171 in the center of town.
For nearly 20 years, John J. Blake, Jr. continued the services initiated by his father until he retired from the financial industry in 1986. In 1984, while John J. Blake, Jr. was still President of Peoples State Bank, local businessman Pete Abington formed a one-bank holding company, PSB Financial Corporation, and purchased the outstanding shares of Peoples State Bank. Through his dedication to Peoples State Bank and the communities it serves, Pete Abington has been very instrumental in the growth of the bank, expanding from $28 million in assets in 1984 with 2 locations,to its present strength of over $400 million in assets and 16 locations.
John J. Blake, III began his employment with Peoples State Bank in 1975 as a part-time employee. 
Like his father and grandfather before him, John J. Blake, III became a full-time Assistant Cashier in 1979, after graduation from college. In December 1982, he was promoted to Assistant Vice President, and in April 1985, as Executive Vice President under his father. Continuing his family's legacy, he served in that capacity until his appointment as President in 1986-at that time, the youngest bank president in the State of Louisiana. John J. Blake, III earned this position by exemplifying leadership, being progressive and creative, and demonstrating his strong banking knowledge, as well as compassion for others. His strong leadership skills will guide Peoples State Bank confidently into the future.
