As we celebrate the 100th anniversary of Peoples Bank, we look back at the bank’s history, its founders and its growth in our community. See the full list of stories here. Be sure to pick up a copy of our cookbook “Centennial Commemorative: Recipes & Remembrances” at your local branch office.
Less than two decades after Peoples Bank began in 1912, the nation was gripped by the Great Depression. Even in rural North Carolina, the hard times brought about by the market crash and the credit crisis resulted in a severe decline in the livelihood of many people. Eighty years later, the Great Recession struck, bringing a post war economic decline not experienced in modern times. Both the Depression and the Recession had severe effects on a great number of bank customers and others.
Yet, Peoples Bank successfully survived both. Partly, this was due to the support from the bank’s community of constituents. But it was primarily because the Board and Management were true to the bank’s heritage: build upon success, manage for the future—and never stray far from their conservative roots.
It’s impossible to acknowledge all the persons who have been sources of encouragement to this Bank. Peoples Bank is most grateful for the support of its shareholders and directors. Our employees have been a constant source of inspiration. Of course, we are most grateful to our customers, many of whom have done business with us for more than fifty years.
The very fact that the bank has not just survived, but thrived the past 100 years, is a credit to all those who have been associated with us as shareholders, customers and employees. Such loyal support from all those provides confidence in our heritage. We’re certain that if we maintain the spirit of those early Catawbans who formed us, and if we can continue to enjoy the support of our constituents, we can confidently look forward to another century of service.
Previous Centennial Edition: Focusing on customer’s needs for convenience