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Business Banking


Business Product Suite

Our Business Checking Accounts are low cost and provide next day availability on most deposits. Ask us about special earnings credits and other opportunities to save. We know you are busy running your business. We form partnerships with each of our business customers and won't see you as just another number like the big banks. Let us share our "hometown service" with you. Customer service isn't just a slogan with us - it's how we do business every day.

Traditional Business Checking

Best for corporations, sole proprietorships, partnerships and other businesses. 

Account Details

  • Free VISA Check Card
  • Free Online Banking
  • $100.00 opening deposit  
  • Monthly bank statement with check images
  • First set of Premier Check Printing, Inc. checks free
    • Requirements/Fee Information
      • Must maintain a minimum balance of $2,000.00 to avoid a monthly charge of $5.00.
      • A $0.10 charge is assessed per debit item (paid or transit).
      • Earnings credit is provided to offset charges on all balances, regardless of minimums (rate subject to change). 


Small Business/Not-for-Profit Statement Checking

Best for new or low-transaction businesses. Perfect for most businesses, clubs, and organizations.

Account Details

  • Free VISA Check Card
  • Free Online Banking
  • Free Online Bill Payment
  • $100.00 opening deposit
  • First set of Premier Check Printing, Inc. checks free
    • Requirements/Fee Information
      • No monthly service charge
      • No charge for the first 100 items processed (Checks paid, items deposited), per statement cycle. After that, $0.15 each.


Business Checking With Interest

Best for large businesses or businesses with higher average balances.

Account Details

  • Monthly interest paid.
  • Free VISA Check Card
  • Free Online Banking
  • $2,500 minimum deposit to open
  • Return of check images with monthly statement
  • First set of Premier Check Printing, Inc. checks free
    • Requirements/Fee Information
      • No charge for the first 500 items processed (Checks paid, items deposited), per statement cycle. After that, $0.15 each.
      • Monthly service charge of $10 if balance falls below $2,500.


Remote Deposit:  Take advantage of our Remote Deposit program. This process allows you to scan, submit, and deposit your checks electronically to the bank from the convenience of your place of business. Our customers who are already using the program love it. It saves them time and allows them to focus on their place of business without having to rush to the bank.

ACH Origination:  The ACH (Automated Clearing House) is one of the most reliable networks for moving electronic payments. Optimize your payroll through direct deposit or collect your accounts receivable for improved cash flow.

Business Manager:  This program enables qualified small businesses to get cash for their accounts receivable deposited directly into their checking account within 48 hours. Business Manager improves a business customer's daily cash flow and can allow them to take advantage of discounts from their suppliers. An additional benefit of the Business Manager Accounts Receivable Program is that it is integrated with Quick Books. You can learn more about the Business Manager program here.

Business Manager Medical:  With a program similar to Business Manager, Business Manager Medical generates quicker cash flow for medical facilities in exchange for their accounts receivable. Improved cash flow can make a significant difference for your business. You can learn more about the Business Manager Medical program here.

Health Savings Account:  Does your business provide health insurance for employees? If the plan you suppy is a High Deductible Health Plan, then your employees may want to open a supplemental HSA. When your employees open an HSA with us, they are making an investment in the future. HSAs bridge the gap between out-of-pocket expenses and insurance benefits. They allow individuals to pay their current health expenses through tax-free distributions, and also allow them to save for future qualified medical and retiree health expenses on a tax-free basis with fund rollover year-after-year. Having HSAs will give your staff the opportunity to become health care consumers capable of taking advantage of preventative services and using better health care options. Start an HSA for yourself or tell your employees about this great money saving opportunity. 

Account Details

  • $25.00 opening deposit
  • Check, debit card, and online account access
  • No minimum balance
  • No monthly service charges
  • Monthly compounding interest (rate subject to change)
  • Monthly bank statement with check images
    • Requirements
      • Must be 18 years of age or open jointly with an adult.
      • Must meet credit requirements before being issued a debit card. May be subject to a 90 day waiting period.
      • Must complete an HSA enrollment form.
      • Must have an HDHP or High Deductible Health Plan.
      • In addition to the $25.00 opening deposit, a $20.00 set up fee must be paid at account opening.

Current Rates

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Internet Banking and Online Bill Pay

Internet Banking

Internet banking is a service that is included with the opening of any account. It provides you with the flexibility to bank anywhere at any time. You can view bank statements, loan balances, and account histories. You can also transfer funds and make loan payments. There is no charge for this service. You can sign up by clicking on "Enroll Now" under the Online Banking heading on the home page of our web site, www.flanaganstatebank.com. Individuals may select their own username and password; commercial enrollees' passwords will be mailed.

Online Bill Payment

If you open a transaction account you may elect to have the Bill Pay option added to your internet banking. With Bill Payment you can pay bills with no envelopes or stamps, saving money on postage and reducing adverse affects on the environment. Funds for electronic bill payments will be debited from your specified account on the day scheduled for transmission to the receiver. All payments by check require sufficient time for the receiver to process the payment and credit your account. We recommend that you contact your individual payee(s) for restrictions that may apply. Checks are written from your Bill Pay account and will be debited when the checks clear your account. There is no charge for this service. Let us do the work for you!

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Commercial Lending

Flanagan State Bank will partner with you to find the best funding option to suit your needs. We will work with you to purchase a parcel of land or building, acquire equipment, or to remodel your office or business space. Call, e-mail, or stop in today to get started!

Commercial Real Estate Loans

Loans for the construction, acquisition or refinancing of commercial real estate are available at competitive rates and flexible terms. Interest only payments are available during the construction and/or lease-up period.

Land Development Loans

Loans for the acquisition and infrastructure construction costs are available at competitive rates and flexible terms.

Letters of Credits

  • Performance Letter of Credits guaranty that a business will perform a specific task within a certain time period.
  • Standby Letter of Credits guaranty that a business will pay a vendor on a timely basis pursuant to the terms negotiated between the business and their vendor.

Lines of Credit

These loans are used for working capital for a period of one year or less with interest only payments due during the period.

SBA Financing

  • The SBA 7a Program is very beneficial to start-up businesses. It allows longer amortization schedules for equipment and other fixed asset purchases than conventional term loans. http://www.sba.gov
  • The SBA 504 Program provides financing for the purchase, construction or improvement of fixed assets such as land and building acquisition, construction and renovation, and/or the purchase of heavy machinery and equipment. It consists of three components:

    • Up to 50% of the project's total cost is provided by Flanagan State Bank;
    • Up to 40% is provided through the SBA 504 Program;
    • A minimum of 10% equity is provided by the small business/borrower.
    • The SBA 504 Program lends up to forty percent of a project's costs at a fixed rate up to 20 years for Real Estate secured loans. The SBA 504 Program lends up to forty percent of a project's costs at a fixed rate up to 10 years for Heavy Machinery & Equipment secured loans. http://www.growthcorp.com

Term Loans

These loans are used to purchase equipment and other fixed assets. They are available at competitive rates and flexible terms. Payments are typically due on a monthly basis. These loans are made for a set period of time, which is dependent upon the equipment or fixed asset that is being purchased.

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The Commercial Lending Team 

Rick Collings, Bloomington Branch

E-mail: rickcollings@flanaganstatebank.com  

Phone: (309) 661-6333 


Rick Collings has been in the financial services industry since 1977 and in the banking industry since 1984. Rick grew up at Bayles Lake near Loda, Illinois. He attended and graduated from the Graduate School of Banking in Madison, Wisconsin.

In 2003, Rick joined Flanagan State Bank as Senior Vice President of Commercial Lending. He serves on the Loan Committee and the Asset/Liability Committee at Flanagan State Bank. He currently resides in rural Bloomington, Illinois with his wife and her daughter, Danielle.

Doug Donner, El Paso Branch

E-mail: dougdonner@flanaganstatebank.com 

Phone: (309) 527-7300

Doug Donner joined the bank in January of 2009. As a Commercial Loan Officer, he most looks forward to going out to businesses and seeing how each one operates. He places a high value on going behind-the-scenes to see the individual efforts of the owers and employees, and examining the various inner-working components, that make a business work. 

Before working for the bank, Doug worked as everything from a restaurant dishwasher to a brick laying laborer, to a factory worker. These labor intensive jobs taught him the value of hard work. While at college at Southern Illinois University - Carbondale, he interned for Independent Bankers' Bank and worked as a teller at The Bank of Carbondale. He graduated with a degree in Finance in 2008, and went on to start his career as a universal banker at U.S. Bank.

Doug grew up in Odell and moved to Pontiac during his teens. He attended Pontiac Township High School. He currently resides in El Paso with his wife, Samantha. In his free time he enjoys playing sports, fishing and hunting, as well as spending time with his family and friends.

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