A Timeline of Lumbee Guaranty Bank
May 1971 – A delegation of 22 citizens traveled to Raleigh for the hearing on the application of the proposed Lumbee Bank.
September 1971 – Lumbee Bank was incorporated under the laws of North Carolina. The Board of Directors worked to raise $667,000 in bank stock, with a cap of $20,000 on individual stockholders and at least three-fourths required to be raised from Native Americans. In the end, 97% of the 750 subscribers were Native American.
December 1971 – Operations commenced as a state-chartered bank and the first Native American owned bank in the United States. At the ribbon cutting ceremony, the Honorable Charlie Rose said, “Never have so few done so much for so many.”
February 1973 – The bank moved into its permanent headquarters in Pembroke.
July 1987 – Larry Ray Chavis became president of Lumbee Bank, a role he continues to hold to this day.
February 1989 – A branch was opened in Lumberton.
June 1991 – The St. Pauls and Hope Mills branches were purchased from Resolution Trust Corporation.
1991 – After 20 years, Lumbee Bank changed its name to Lumbee Guaranty Bank, reflecting the bank’s growth and success.
November 1995 – The Maxton branch was purchased from First Scotland Bank. Branches in Red Springs and Rowland were acquired from Centura.
July 1996 – On the bank’s 25th anniversary, a groundbreaking ceremony was held as the bank announced construction of its new home office in Pembroke.
July 1997 – A Fairmont branch was acquired from Progressive Savings and Loan.
September 1997 – The bank opened its new office in Pembroke, a beautiful three-story, 17,000-square-foot building where headquarters still remain.
December 1998 – A second branch in Lumberton was opened.
July 1999 – A third branch in Lumberton was opened. Two branches in Fayetteville were also opened.
September 2006 – The Falcon Village branch was opened.
July 2007 – The Lake Rim branch was opened.
2012 – Lumbee Guaranty Bank acquired two branches from New Century Bank, entering the Raeford market and opening a second branch in Pembroke.
Today – Lumbee Guaranty Bank has some 1,700 stockholders and holds assets of more than $300 million.
Contact InformationPhone Number: (910) 521-9707
Address: 403 East Third Street Pembroke, NC 28372
Email: [email protected]