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.
On May 19, 1911, Mr. R.R. Boggs set in motion the foundation of a new bank; a bank that had been on the minds of Catawba, NC civic leaders for some time. Mr. Boggs called to order a meeting that began at 8 pm in the Catawba School Building. It was an organizational meeting that would bring to life a new bank called Peoples Bank. When the meeting concluded, the new bank had eleven Directors and four Officers.
Soon after that meeting, the required $10,000 in capital was in-hand and Peoples Bank opened for business with one employee, a Mr. W.B. Walker, who served as Cashier. Mr. Walker’s salary was $75 a month.
Now, 100 years later, Peoples Bank is going strong with nearly $100 million in capital, 25 offices, 284 employees and total assets of approximately $1.1 billion. Along the way, Peoples Bank has served the banking needs of the citizens of Catawba, Alexander, Lincoln, Mecklenburg, Union, Wake and Iredell counties. In the past 100 years, tens of thousands of families, businesses and municipalities have benefited from the bank’s special, people-focused brand of banking; banking that today is described as “banking for real people.”
Next Centennial Edition: A bank rooted in the town of Catawba, North Carolina