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.
In 1993, the company’s ninth, and current, president, Tony Wolfe assumed office. Mr. Wolfe continued the company growth begun by Presidents Abernethy and Hunsucker. In 1995, the company entered the town of Claremont with a new branch office location. In 1995, an electronic method of filing customer statements was deployed, increasing efficiency and reducing the need for paper storage.
In 1996, PeoplesTouch, a telephone system that allowed customer access to their banking accounts, was introduced. A preliminary investigation of internet banking was begun, reserving “peoplesbanknc.com” for future use.
In 1997, the Denver and Triangle offices were opened; in the next year, 1998, a second office in Hickory, in the Viewmont area, was opened. Again, in 1998, to provide financing for continued growth, the company completed another successful public offering of 230,000 shares of common stock.
In 2001, the bank opened an office in Lincolnton and relocated the Newton office to West A Street; in 2002, the Abernethy Laurels satellite office and the West Lincoln office were opened. In 2005, a loan production office in Denver, NC went into operation. Then, in 2007, the first “lake area” office in Cornelius was opened. And in 2008, the bank opened its first Mooresville office; a second office followed in 2009.
By 2010, the Peoples Bank was operating 22 banking offices, two administrative offices and one loan production office. It is of interest to note that the bank had learned free standing offices were not the only way to build new facilities. Beginning with the new headquarters in Newton, and continuing with the new Cornelius and Mooresville Gateway office, the bank opened leased offices in retail centers. This permitted the bank to have market presence at a greatly reduced cost.
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