LUMBEE BANK was incorporated under the laws of North Carolina on September 29, 1971, and commenced operations as a North Carolina state-chartered bank on December 20, 1971. This day, what appeared to be an impossible dream became a reality, and history was made because Lumbee Bank was the first Indian owned bank in the United States.

The Bank was originally founded by area residents who believed that there was a growing need and demand for a locally owned and operated commercial Bank.

On May 19, 1971, Mr. Charles G. Rose, III, representing the organizers of the proposed Lumbee Bank, and a delegation of 22 interested citizens of the Pembroke community traveled to Raleigh for the hearing on the application of the incorporators. The delegation was asked to stand as a group. Mr. Rose introduced the five organizers of the proposed Lumbee Bank as follows: "Mr. Adolph Dial, a Professor of Political Science at Pembroke State University, a lifelong resident of the Pembroke community and one of the organizers; Dr. Brooks, the only physician in the community of Pembroke serving not only the Pembroke community but a very large area around that community; Mr. John Robert Jones, a businessman and a farmer in the Pembroke community, a native of that area and has widely held business interests in that community; Mr. Howard Brooks is a pharmacist and owner and manager of Pembroke Drugs in the community of Pembroke, a lifelong resident and a businessman in the Pembroke community; and Mr. Harbert Moore, a farmer and a full-time employee of the United Methodist Church. He does extensive lay work and extensive organizational work for the United Methodist Church in the Pembroke community and he, too, is a lifelong resident of that community."

Ray Liles served as the first president of Lumbee Bank from 1971 until 1977 and was succeeded by Ralph Hunt who served as interim president. James A. Hunt was appointed president in August 1977 and served until August 1984. Curtis Pierce became president in August 1984 and served in that capacity until July 1987. Presently, Larry Ray Chavis is the president of Lumbee Guaranty Bank and has served as president since July 1987.

On September 22, 1971, a meeting of the incorporators of Lumbee Bank was held in the Log Cabin Office on 3rd Avenue. The following incorporators were present: Adolph Dial, Martin L. Brooks, Howard Brooks, Harbert Moore and John R. Jones. The Articles of Incorporation were read and approved.

The Board of Directors were nominated as follows: Adolph Dial, Martin L. Brooks, Howard Brooks, Harbert Moore, John R. Jones, Charles G. Rose, III and Ray Liles. Howard Brooks was nominated Chairman of the Board of Directors, John R. Jones was nominated Vice-Chairman of the Board and Charles G. Rose, III was nominated as Secretary. Ray Liles was nominated President of Lumbee Bank.

The Commission advised the temporary board to raise $667,000 in bank stock. The Commission modified its recommendation and required that at least three-fourths of the $667,000 be raised from Native American Indians at which time the temporary board decided to place a $20,000 cap on individual stockholders.

From a log cabin office on Third Street in Pembroke, the organizers set out to sell the necessary stock needed to open the Bank. The community was very excited about the prospects of the first Indian Bank in the nation. Many people were with the organizers in spirit but did not have the money. Some people, who were financially able, purchased large blocks of stock and others purchased one (1) to ten (10) shares of stock. Several families purchased one share of stock for each member of the family. Selling the necessary stock proved to be no small task, but soon it too was accomplished with 97 percent of the 750 subscribers Indian.

The final step was FDIC approval. This was finally granted on December 21, 1971, and the following morning area residents gathered for a brief dedication and ribbon cutting ceremony. It was a cold, windy day. Rev. D. F. Lowry delivered the invocation. Mr. Earlie Maynor, Mayor of Pembroke, officially signaled the opening of Lumbee Bank. The Honorable Charlie Rose made this comment in his remarks at this ceremony, "Never have so few done so much for so many." Lumbee Bank opened its doors in a modified mobile home purchased to house the Bank. Earl Hughes Oxendine had the distinction of being the bank's first depositor. The original staff was Ray Liles, President, Curtis Pierce, Ester Hedrick, Brenda Shoemake and Vernice Oxendine. Business was conducted in the mobile unit until Rep. Adolph Dial, a local developer and one of the major stockholders, built an extension to a Piggly Wiggly shopping center in Pembroke. The Bank moved into the permanent quarters on February 20, 1973. The grand opening was held March 14, 1973.

Presently the Directors of Lumbee Guaranty Bank are Arnold Locklear, Chairman, Dr. Martin Brooks, Larry Brooks, Redell Collins, C. A. Maynor, Sybil Bullard and James Thomas. Ray Liles served as the first president of Lumbee Bank from 1971 until 1977 when he was succeeded by Ralph Hunt who served as interim president. James A. Hunt was appointed president in August 1977 and served until August 1984. Curtis Pierce, who began as the bank's cashier and became vice president/cashier in 1975, became president in August 1984 and served in that capacity until July 1987. Presently, Larry Ray Chavis is the president of Lumbee Guaranty Bank and has served as president since July 1987.

Lumbee Guaranty Bank, which began as a "hometown bank" trying to serve the Pembroke community has grown to ten locations: nine Robeson County and one in Cumberland County. In February 1989 a branch was opened in Lumberton. The St. Pauls and Hope Mills branches were purchased from Resolution Trust Corporation in June 1991. It was in 1991 that the name changed to Lumbee Guaranty Bank. Bank officials described the new name as just one more significant change at a bank that had seen two decades of change. The Maxton branch was purchased from First Scotland Bank in November 1995. Branches in Red Springs and Rowland were acquired from Centura in November 1995. A Fairmont branch was acquired from Progressive Savings and Loan and opened in July 1997.

Lumbee Guaranty Bank opened a second office in Lumberton located at 2799 West 5th Street on December 15, 1998. The Bank opened a third office in Lumberton located at 4829 Fayetteville Rd in July 1999.

In 1996 the Board of Directors and President/CEO of Lumbee Guaranty Bank announced construction of their new home office and on July 3, 1996, a Groundbreaking Ceremony was held at 403 East Third Street, Pembroke, North Carolina. Among the distinguished guests was Mr. Hal Lingerfelt, Commissioner of the North Carolina Banking Commission. This special occasion marked another milestone for Lumbee Guaranty Bank. In 1996 the Bank also celebrated its 25th Anniversary.

The Bank opened its new Corporate/Branch office in September of 1997. The new facility designed and constructed by Consultants and Builders of Norcross, Georgia, is equipped with state-of-the-art banking equipment and technology to better serve our customers. The Board of Directors, officers and staff of Lumbee Guaranty Bank are proud of the beautiful three-story, 17,000 square feet corporate office and main branch in Pembroke.

Lumbee Guaranty Bank has moved four branches to a new location. The new Rowland Branch grand opening ceremony was October 2000; the location is 201 N. Bond Street. The New Red Springs Branch grand opening was July 30, 2002; the location is 215 E. 4th Street. The New St. Pauls Branch grand opening was March 13, 2003; the location is 306 South 5th Street. Lumbee Guaranty Bank purchased the former Centura Office located at 600 N. Pine Street, Lumberton and renovated the building relocating the office at 111 North Court Square. The Bank opened this office on April 11, 2004 and the Grand Opening was held May 20, 2004.

Lumbee Guaranty Bank is in the process of building a new office for the relocation of our Fairmont Office. The project is scheduled to be completed in 2005.

Lumbee Guaranty Bank has more than 80 employees full time and part time. The Bank's assets are approximately $172,000,000 with deposits of approximately 152,000,000.

The Home office includes our Bookkeeping, Credit, Training and Audit Departments and the Corporate Offices. The Corporate Offices include the Bank's President and CEO, Executive Secretary, Credit Administrator, Operations Officer, Compliance Officer, Accounting Officer and Personnel Director.

Larry R. Chavis, President/CEO, believes that Lumbee
Guaranty Bank is what it is today with some 1,700 stockholders because the foundation was there and sacrifices were made in the early years.

Lumbee Guaranty Bank is a Community Bank dedicated to meeting the needs of the customers we serve.