Business View Magazine | September 2022

110 BUSINESS VIEW MAGAZINE VOLUME 9, ISSUE 9 “That initial group, the founding folks, essentially went door to door and sold stock for $10 a share. There were some subscribers that bought one share, they bought what they could afford, but they wanted to be part of the bank. They raised $667,000 in capital and 98% of the subscribers were Native Americans. Interestingly, some of those initial shareholders that bought that one share are still shareholders today.” Since first opening its doors in December of 1971, Lumbee Guaranty Bank has grown to include 1,700 stockholders, with assets of $490 million. Headquartered in Pembroke, the bank has 14 branches, spanning three counties throughout rural southeastern North Carolina. Lumbee Guaranty Bank is proud to offer a complete range of deposit, loan and investment products. “We are a community bank, but we like to say we have everything that the big boys are able to offer, from mobile banking to online banking, all the bells and whistles, so to speak,” says Chavis, adding that this is accomplished while remaining locally focused and committed to the communities they serve. With close to 100 employees, the bank made the decision at the onset of COVID to allow staff who were able to do so, to work from home. “What I refer to as our backroom people, or operations folks who kind of run the back room of the bank, were able to work from home during COVID-19 in 2020, and the first part of 2021. We were able to acquire some technology AT A GLANCE LUMBEE GUARANTY BANK WHAT: A full-service native American owned community bank WHERE: 14 Branches throughout southeastern North Carolina WEBSITE: www.lumbeeguarantybank.com