Winchester's third bank was organized by men who were hardly strangers to the banking business. E.G. Miner and C.B. Hubbard, who had only two years before been in business together in Winchester's original bank, reformed a partnership and added Robert Frost to form the bank of Miner, Frost, & Hubbard. They opened their doors on Nov. 12, 1867 in the building that is now Gross's Animal Clinic. When the First National Bank failed in 1877, Mr. Frost purchased the building on the northwest corner where the old bank had been located.

The title of the bank was then changed to The Frost and Hubbard Bank. Upon the death of Mr. Frost, Mr. Hubbard became the only remaining member of the founders of the bank and remained so until his retirement on April 1, 1919 at which time he disposed of all his interest in the bank. On April 25 of the same year the bank, in compliance with state law, changed from a privately owned bank to a state bank and received a state charter. The reorganized bank was called The First State Bank of Winchester, Illinois and remains as such today. Succeeding generations of Robert Frost are actively involved in the present bank operations.

Partnership:

Edward G. Miner, Robert Frost, Charles B. Hubbard
Nov. 12, 1867 to Jan. 1, 1886

Robert Frost, Charles B. Hubbard
Jan.1, 1886 to April 8, 1886

Charles B. Hubbard
April 8, 1886 to April 1, 1919

Presidents R.W. Frost
(1919 to 1948)

C.R.W. Frost
(1948 to 1955)

Clarence Adams
(1955 to 1969)

Lucy Frost
(1969 to 1977)

R.E. Frost
(1977 to 1984)

William C. Robinson
(1984 to 1994)

Kenneth L. Shivers
(1994 to 2000)

R.E. Frost
(2000 to 2005)

Charles R. Frost
(2005 to Present)