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New bank set to open in March

By Hillary Akers
Around the Town Editor

February 9, 2012

University theatre
Photo by Hillary Akers
Construction continues at the new location of Lumbee Guaranty Bank in Pembroke in front of the Food Lion on West Third Street.
Lumbee Guaranty Bank plans to open a new branch currently under construction in March, said Larry Chavis, bank president and CEO.

The bank located on West Third Street, in front of Food Lion, will be a full services bank, Chavis said.

"We decided we needed a second location for the convenience of our customers," Chavis said. "Although the town is small, the traffic flow can get very busy."

Lumbee Guaranty Bank is also looking to purchase the New Century Bank located at 410 E. Third St. and the New Century Bank in Raeford, Chavis said.

If all the purchases take place, Chavis said, the New Century purchase in Pembroke will be used for offices for the corporate staff and the New Century purchase in Raeford will become a full service Lumbee Guaranty Bank.

"One difference is New Century does not have a full-time lender service," Chavis said. "We will have a full-time lender service in the branch if all goes through."

"We hope to give better service," he said.

Lumbee Guarentee Bank celebrated their 40th anniversary in December, Chavis said and is a five star bank, according to the Bauer Financial research firm.

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Updated: Saturday, March 24, 2012
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