In December of 1914, W.R. Simpson, Byron Colburn, and S. E. Naffziger founded Goodfield State Bank in Mr. Naffziger’s country store. Patrons conducted banking business in one corner of the store until a building was completed in 1915.
Goodfield State Bank was officially incorporated in the State of Illinois in December of 1920 and opened as a state chartered institution on January 3, 1921, with assets of $123, 000. The bank's assets continue to grow and reached 100 million in 2015.
Goodfield State Bank remains an independent financial institution. In 2003, Goodfield Financial Corporation, a bank holding company was formed and shares of Goodfield State Bank exchanged for Goodfield Financial Corporation shares. Then in 2007, the shareholder's elected to become a Subchapter S corporation. There are currently over 220 shareholders, with the majority of shares owned by individuals with ties to the local communities.
The original facility was improved over time and the bank operated from the location until August 2001, when the bank opened a new facility on the corner of Route 117 and Route 150 in Goodfield. In 2007, Goodfield State Bank opened its first branch in a leased space in Eureka and continues to conduct business at this location. The bank opened its third location in the summer of 2013 with a new building in Metamora and, most recently, in Roanoke.
Locally owned and managed, Goodfield State Bank provides a full range of banking services to meet our customer's needs.
Changes to the Property Value could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
You can change the property value by moving the Property Value slider up or down or by entering a new Property Value manually in the Property Value box.
When you change the Property Value, only the LTV will change, and the Loan Amount will remain the same Loan Amount.
Other advanced sliders’ options are available with Lendersa® Advanced Calculator
CloseChanges to the loan amount, even so slightly, could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
The Loan Amount Slider
Change the Loan Amount by moving the Loan Amount slider. (The LTV will change, and the Property Value will remain unchanged).
The LTV Slider
Change the Loan Amount by moving the LTV slider. (The Property Value will remain unchanged).
Other advanced options are available with Lendersa® Advanced Calculator
CloseLTV is the abbreviation of Loan To Value, and it is the ratio between the Loan Amount and the Property Value. The formula to calculate LTV is Loan Amount divided by the property value. 
Example: Loan Amount $300,000, Property value $400,000 
Changes to the LTV, even so slightly, could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
The Loan Amount Slider
Change the Loan Amount by moving the Loan Amount slider. (The LTV will change, and the Property Value will remain unchanged).
The LTV Slider
Change the Loan Amount by moving the LTV slider. (The Property Value will remain unchanged).
Other advanced options are available with Lendersa® Advanced Calculator
Close
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NMLS 1795154