After nearly four decades in banking Doug Sanders will retire as executive vice president of CBI Bank & Trust effective Jan. 5, 2026.
Sanders joined what was then known as F&M Bank in 1997 and rose through the ranks to serve as executive vice president, chief investment officer, and eventually president and CEO of the Galesburg-area operations. Under his leadership, assets in the bank’s Knox, Warren, and Peoria County markets grew nearly fourfold.
His tenure saw the construction of new full-service branches on Henderson Street and Seminary Square in Galesburg, the successful integration of multiple acquisitions, several core-system conversions, a charter consolidation, and most recently the rebranding from F&M Bank to CBI Bank & Trust as part of the company’s “one team, one brand” initiative.
“Doug has been a cornerstone of our organization and the community for many years. To say his knowledge, expertise and leadership will be missed is an understatement,” said Dwayne Sieck, president and CEO of Central Bancshares. “We are forever grateful for his dedication and commitment to CBI Bank & Trust and the relationships he built with our associates, clients and members of the community.”
Beyond the bank, Sanders has been a fixture in Galesburg civic life since moving to the area in 1997. He has served on the boards of Discovery Depot Children’s Museum, Knox County YMCA, Galesburg Downtown Council, Galesburg Regional Economic Development Association (GREDA), Soangetaha Country Club, Illinois Bankers Association, National Railroad Hall of Fame, Knox County Partnership for Economic Development, St. Ambrose University president’s advisory council, and the Knox-Galesburg Symphony. He has also played key roles in multiple nonprofit capital campaigns.
In retirement, Sanders plans to spend more time with his wife Heather, their adult children, and his grandson.
CBI Bank & Trust, headquartered in Muscatine, Iowa, operates 24 branches across eastern Iowa, western Illinois, and southern Wisconsin with total assets exceeding $1.6 billion. Its trust and investment divisions manage an additional $1.4 billion in client assets.