Congratulations to the Light family from The Community Bank in Liberal for receiving the Century of Family Banking Award! This prestigious award recognizes more than 100 years of the Light family’s service and commitment to community banking in southwest Kansas.
The Light family’s banking history began in 1914 with Peoples State Bank, located in the current Al Shank Insurance building on 2nd Street in Liberal, Kansas. In December 1929, the bank transitioned to a national charter and became Peoples National Bank of Liberal, eventually relocating to the corner of 3rd and Main Street. Peoples National Bank was later sold to Bank IV in December 1992, which ultimately transitioned into Bank of America.
The Community Bank journey began in August 1997, when Phil Light and Cliff Haltom announced plans to start a new bank in Liberal. They believed that the rise of large corporate banks would shift decision-making and accountability away from local communities and into out-of-state authority, resulting in slower service and less flexibility for customers.
In October 1997, the application for The Community Bank was approved by the Kansas State Bank Commissioner. On April 3, 1998, a charter authorizing The Community Bank to open effective April 6, 1998, was officially issued. The Community Bank was also the first state-chartered bank in western Kansas in 25 years, and the first bank chartered in Liberal since Peoples State Bank in 1914.
The Community Bank opened in April 1998 with $2.6 million in assets and grew to $28 million in assets by the end of its first year, surpassing all projections. Growth continued steadily over the years, reaching $57 million at five years, $75 million at 10 years, $98 million at 15 years and $159 million at 25 years.
The bank’s original facility was a triple-wide building formerly used by Exchange Bank of Leawood, Kansas. The Community Bank began with 12 employees who had previously worked together at Peoples National Bank. Original directors included Phil Light, Stan Reiss, Jim Madden, Keith Hill, Jack Call, Paul Boles and Bruce Shannon. In September 1999, Mark Schepers replaced Cliff Haltom as President and CEO.
In September 2003, The Community Bank purchased the South Motor Bank facility at 303 S. Kansas Ave., a former Peoples National Bank branch, and construction on the bank’s current building was completed in 2004. The original triple-wide facility was later moved to Oakley, Kansas, where it is still being used as a bank.
In December 2022, longtime President and CEO Mark Schepers retired. Mike Lyles, a former Peoples National Bank employee, was hired as CEO, and Matt Peters was promoted to President. Today, The Community Bank has more than 20 employees and continues to invest in Liberal and the surrounding communities while following the Light family vision of community banking.
Congratulations to the Light family for receiving the Century of Family Banking Award and for their lasting contributions to Kansas banking and their community.
