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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 Native American-owned Minority Depository Institution. 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 and CEO of Lumbee Bank.
  • February 1989 – A branch was opened in Lumberton as its second location.
  • June 1991 – The bank purchased the St. Pauls and Hope Mills branches from the Resolution Trust Company.
  • 1991 – After 20 years, Lumbee Bank changed its name to Lumbee Guaranty Bank, reflecting the bank’s growth and success.
  • November 1995 – The bank purchased the Maxton branch from First Scotland Bank and acquired the Red Springs and Rowland branches from Centura Bank.
  • July 1996 –On its 25th anniversary, the bank announced construction of a new home office in Pembroke and held a groundbreaking ceremony.
  • July 1997 –The bank acquired the Fairmont branch 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 our headquarters still remains.
  • December 1998 – The bank opened a second branch in Lumberton on West Fifth Street.
  • July 1999 –The bank opened a third Lumberton office on Fayetteville Road.
  • September 2006 – The bank opened its second Fayetteville branch at Falcon Village.
  • July 2007 – The bank opened its third branch in Fayetteville at Lake Rim.
  • 2012 – Lumbee Guaranty Bank acquired two branches from New Century Bank, entering the Raeford market and opening a second branch in Pembroke.
  • January 2016 – The bank acquired the loans and deposits of Southern Bank in Red Springs and consolidated them into our existing Red Springs branch.
  • February 2020 – The bank opened our Hay Street branch in downtown Fayetteville.
  • Today – Lumbee Guaranty Bank has over 1,700 shareholders and assets of nearly $500 million.