The bank was started by Conrad Luppen in 1893. It started out as a public bank, 1905 it became a state bank. It was located on the corner of Market and Broadway then moved 105 S. Adams St. in 1974. In 1961 the Bank was robbed. Customers, employees, and FDIC officials were tied up. Three weeks later, they were robbed again. Peoples State Bank in 2006 merged with Morton Community Bank and became Manito Community Bank. The home offices was located in Morton, IL. Today the old location of the bank, is now occupied by the Iron Stone Room Restaurant.