On August 1st, 1870, the private banking firm of Petefish, Skiles & Co. Bank opened its doors for business in Virginia, IL. Samuel H. Petefish, Ignatius Skiles and Jacob Epler, all prominent local businessmen, started the firm with Richard Elliott as cashier. Mr. Epler retired after the first year and George Virgin was admitted to the firm. In 1872, Edward T. Oliver was placed in charge of the bank after the resignation of Mr. Elliot. In April 1873, Ignatius Skiles died and his brother Oswell Skiles became a member of the firm in 1875.
In 1876, Mr. Virgin retired, and the firm became S.H. Petefish, Oswell Skiles, Edward T. Oliver, William Campbell and George Crum and this association continued for a number of years. Mr. Oliver eventually relocated to Springfield and George Conover was made cashier. Matt Yaple joined the firm in 1886 and later became its assistant cashier.
On September 24, 1902, a charter was granted from the State of Illinois, under the state banking laws, to S.H. Petefish, L.A. Petefish, Matt Yaple and Oswell Skiles, incorporating the bank. At that time, George Conover was elected President and Matt Yaple became cashier. Conover served as President until 1904, when Oswell Skiles was elected to that office and continued until his death in 1908. L.A. Petefish was elected to succeed Mr. Skiles, and served until 1912, when M.L. Crum was made President and L.A. Petefish was Vice President, Matt Yaple, cashier, George Widmayer and I.S. Yaple assistant cashiers. The bank’s capital at that time was $60, 000 and was one of the most successful and substantial of the county.
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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