By STEVE EIGHINGER

Herald-Whig Staff Writer

First Bankers Trust posted a slight decrease in third-quarter earnings per share when compared to a year ago, but President and CEO Art Greenbank feels the recession has ended and the economy is in the process of slowly beginning to move upward.

First Bankers Trust's third-quarter earnings were 59 cents per share, compared to 69 cents a year ago.

"What has been the worst recession since the 1930s may be over," Greenbank said in a release. "Unfortunately, there has been a lot of damage done ... the recovery will be slow and moderate and additional damage will be visible for all to see in the coming year.

"We still have had a good year based on the extraordinary growth which we continue to experience."

Greenbank said deposits are up 28 percent over last year's third quarter, although First Bankers' Trust Co. is down slightly from 2008's record earnings.

"It is impressive that they have not declined more, given their national customer base and the state of the economy," Greenbank said.

First Bankers Trust has announced a definitive agreement to buy a new branch in Springfield, Ill. -- its 10th location. The newest branch is about one mile east of White Oaks Mall on Wabash Ave.

The Springfield branch is scheduled to open Nov. 13.

-- seighinger@whig.com/221-3377