Regular Commercial Checking

An interest bearing Commercial Checking Account can be opened for sole proprietorship, non-profit organizations and governmental units. Interest will be paid monthly. Your statement will reflect the interest earned for the month and any service charges incurred for the month.

Minimum Balance to Open $
100.00
Maintenance Fee
14.00
Checks Paid
0.17
Deposits Posted
0.45
Deposited Items On-Us
0.08
In-State
0.09
Out-of-State
0.10
Other Account Activity (see Fee Schedule)

All service charges are calculated by account analysis; including account balance and account activity. If your monthly earnings credit is greater than your activity charges, there is no service charge. When the activity charge is greater than the earnings credit for the month, you pay the net difference.

Service charges may be offset by earnings credits. Earnings credits are calculated on collected balances less a Federal Reserve Requirement of 10%.

Earnings Credit Rate is based on the prior month's average of the 91-day T-Bill rate for balances of $25,000 or more and at the 91-day T-Bill rate less 2.0% for balances of less than $25,000.


NEW ORGANIZATIONAL STRUCTURE ANNOUNCED BY LUMBEE GUARANTY BANK BOARD OF DIRECTORS

Larry R. Chavis has been promoted to EXECUTIVE VICE CHAIRMAN by the Board of Directors of Lumbee Guaranty Bank.

Kyle R. Chavis has been selected by the Lumbee Guaranty Bank (LGB) Board of Directors to succeed Larry R. Chavis (no relation) as CEO. In addition, Bryan K. Maynor has been promoted to President and Chief Operating Officer of the Bank. Both men will assume their new roles immediately.

Mr. Kyle Chavis, (47), has been an employee of LGB for 18 years. His experience includes a total of 25 years in a variety of banking roles at Wachovia Bank, Triangle Bank and others. He has been serving as Executive vice President and Chief Credit Officer of LGB for the past eight years. Kyle Chavis received a Bachelor of Arts in Business Management, with a concentration in Finance from North Carolina State University in 1991, and he is currently working toward a Master’s in Business Administration at UNC Pembroke. He attended graduate banking schools at Louisiana State University and through the North Carolina Bankers Association. He and his family reside in Lumberton, NC.

Mr. Bryan Maynor (53) has a 28-year banking career, 18 of which have been with LGB, most recently as the Executive Vice President and Chief Operations Officer. He was born and reared in Pembroke, NC and received his Bachelors of Science in Industrial Relations at UNC Chapel Hill in 1986. Maynor also attended graduate banking schools at LSU and through the NCBA. He attained an Executive Masters in Business Administration from Troy University in 2007. Maynor lives in Pembroke with his family.

In making the announcement, LGB Board of Directors Chair, Arnold Locklear, acknowledged the experience, leadership and skill that Kyle Chavis and Bryan Maynor have already contributed to the Bank, stating, “These gentlemen have been involved at a senior management level over many years of change at LGB. The Board is excited to have them as our next executive team.”

Mr. Larry Chavis said, “I have teased these guys that it will take two of them to replace me, but the truth is banking has become a much more complex business since I was a young banker. I am comforted that Kyle and Bryan will be at the helm when I slow down.”

LGB is a commercial bank founded in 1971. The Bank currently serves customers in Robeson, Cumberland and Hoke Counties. The Bank has $350 million in assets and 13 branch offices. Please visit our website: http://LumbeeGuarantyBank.com



Pembroke, NC





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© 2005 Lumbee Guaranty Bank