Uncaterogized

Exchange Bank celebrates 125 Years

exchange bank

In the year 1892, the first bank in Natchitoches received its charter from the state. The name was The Exchange Bank.

To put that date into perspective, 1892 is the same year Thomas Edison received the patent for the two-way telegraph, and the General Electric Company (GE) was established. On Sept. 28, Exchange Bank celebrates 125 years of business. The original capital to establish the bank was $10,000. The doors were opened in the 600 block of Front Street. In 1903, the bank constructed a new building at the corner of Front Street and St. Denis, where it stands today. The Board of Directors of The Exchange Bank took bids in 1902 for the construction of this building. The bids ranged from $15,000 to $16,500. All bids were rejected as being too high.

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The name was changed to Exchange Bank & Trust Company around 1964 so the bank could install a trust department for the benefit of its customers. As Exchange Bank expanded its services, it outgrew the original building, which was demolished in 1971 to erect a new one that would give sufficient room for years to come. In 1984, a five-story addition was made to complete the landmark structure that stands today. The $10,000 capital that the original bank began business with has now grown to the total assets of about $125 million, which is still considered a small home-town bank. The Exchange Bank 125th Anniversary Celebration is focused on social media. “25 years ago, punch and cookies in the lobby was an on-trend celebration. In 2017, our customers want to celebrate on the go, on their terms with a click or a swipe,” stated Loan Officer and Marketing Representative Laura Lyles. At http://www.facebook.com/ExchangeBank318, the bank will feature anniversary videos, historical photos from bank archives, many small prizes given to Facebook followers and three large prize baskets over the next three months.

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Prize baskets include an NSU tailgate package, a house party package and a Christmas Festival package, each worth over $300. There will also be various cash prizes. President and CEO Mike Newton stated, “125 years of business is an incredible accomplishment for any organization. We are thankful for those who have worked with us and supported us in the past, humbled by our customers’ continued loyalty and eagerly looking forward to the future with our great team at Exchange bank.” Exchange Bank has three locations, the main office on Front Street, a branch on South Drive and the Loan Production Office in Pineville that opened in January of this year.

Categories: Uncaterogized

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