Question 1

What is Lumbee Guaranty Bank?

Accepted Answer

Lumbee Guaranty Bank is a full-service community bank headquartered in Pembroke, North Carolina. With approximately $539 million in assets and 14 branch locations, the bank serves communities across Robeson, Cumberland, and Hoke Counties in southeastern North Carolina.

Established in 1971 as the first Native American-owned bank in the United States, Lumbee Guaranty Bank has evolved from serving the underserved Lumbee Tribe to becoming a bank for everyone in its markets. The institution operates as a state-chartered commercial bank, providing comprehensive financial services to individuals and businesses of all backgrounds.

Question 2

When was Lumbee Guaranty Bank founded?

Accepted Answer

Lumbee Guaranty Bank was founded in December 1971 as Lumbee Bank. The bank's creation resulted from a grassroots effort by 22 Native American business leaders from Pembroke who identified a critical need for local banking services.

In 1971, residents of Pembroke had to travel approximately 20 minutes to Lumberton or Laurinburg for banking services. After Southern National Bank (later merged with BB&T) declined to open a branch in Pembroke, local leaders decided to charter their own bank. The founding group appeared before the North Carolina Commissioner of Banks and received approval to establish the institution, with the requirement that at least 75% of capital be raised from Native Americans and no individual stockholder could invest more than $20,000.

Through door-to-door fundraising, 750 initial subscribers raised $667,000 in capital, with shares selling for as little as $10 each. Remarkably, 97% of the initial shareholders were Native American. The bank commenced operations on December 20, 1971, under the leadership of its founding board and community supporters. In 1987, Larry Ray Chavis became president and CEO, guiding the institution through decades of expansion.

Question 3

Where is Lumbee Guaranty Bank headquartered?

Accepted Answer

Lumbee Guaranty Bank is headquartered in Pembroke, North Carolina. The bank's main office is located in a three-story, 17,000-square-foot building that opened in September 1997.

The headquarters moved to its current permanent location in February 1973, and the existing facility was constructed in 1997 to accommodate the bank's growth. Pembroke is located in Robeson County, which serves as the heart of the Lumbee Tribe's traditional territory.

Question 4

Where does Lumbee Guaranty Bank operate?

Accepted Answer

Lumbee Guaranty Bank operates 14 branch locations across three counties in southeastern North Carolina: Robeson, Cumberland, and Hoke Counties. The bank's footprint includes communities such as Pembroke, Lumberton, Fayetteville, Red Springs, Rowland, Maxton, Fairmont, St. Pauls, Raeford, and the surrounding areas.

The bank has strategically expanded since its founding. Early growth included branches in Lumberton (1989), St. Pauls, Hope Mills, Maxton, Red Springs, Rowland, and Fairmont through the 1990s. More recently, the bank entered the Fayetteville market with multiple locations and opened a second Pembroke branch in 2012. The institution primarily serves the Lumberton, NC Metropolitan Statistical Area.

Question 5

What services does Lumbee Guaranty Bank offer?

Accepted Answer

Lumbee Guaranty Bank provides a comprehensive range of financial services including:

Lending Products: Home mortgages (fixed and adjustable rates), construction loans, home equity lines of credit, commercial loans, small business loans, auto loans, and credit products. The bank participates in the MassHousing First-Time Homebuyer Program and actively supports small business lending in its communities.

Deposit Services: Checking accounts, savings accounts, money market accounts, certificates of deposit, and club savings accounts.

Additional Services: Investment services, insurance services, treasury management, mobile banking, and online banking platforms that provide customers with 24/7 access to their accounts.

The bank positions itself as offering "everything that the big boys are able to offer, all the bells and whistles," while maintaining a community-focused approach. Digital banking capabilities allow customers to manage their finances remotely while still receiving personalized local service.

Question 6

What makes Lumbee Guaranty Bank unique?

Accepted Answer

Lumbee Guaranty Bank stands out as one of only 19 Native American-owned banks in the United States and was the first such institution when it opened in 1971. The bank maintains approximately 75% Native American ownership among its 1,700+ shareholders, preserving its cultural heritage while serving all members of the community.

The institution's origins as a grassroots, community-created bank distinguish it from competitors. The founding story—with 750 shareholders purchasing stock for as little as $10 per share, going door-to-door to raise capital—reflects deep community investment that continues today. Some original shareholders still own their initial shares more than 50 years later.

Lumbee Guaranty Bank emphasizes relationship banking and local decision-making. As CEO Kyle Chavis describes it, "We are small enough to be able to know your name, to know that your kids are playing little league ball. We go to church with you, we go to school with you, we serve on committees with you, we are embedded in this community." All lending decisions are made locally, and deposits are reinvested directly into the communities the bank serves through mortgages, business loans, and consumer credit—typically within a 75% local concentration.

The bank has earned recognition as the favorite bank in its markets and has been voted Best Community Bank multiple times. Its commitment to remaining independent and locally focused sets it apart in an era of bank consolidation.

Question 7

What type of financial institution is Lumbee Guaranty Bank?

Accepted Answer

Lumbee Guaranty Bank is a state-chartered commercial bank organized as a cooperative/mutual savings institution. The bank is regulated by the Federal Deposit Insurance Corporation (FDIC, Certificate #20568) and operates under North Carolina state banking laws.

As a commercial bank, the institution provides both retail banking services to individuals and commercial banking services to businesses. Its organizational structure as a cooperatively-owned institution means shareholders—primarily Native American community members—have ownership stakes in the bank. This structure aligns with the bank's mission of community service and local ownership, distinguishing it from publicly traded banks or those owned by larger holding companies. The bank operates independently without a parent holding company (rssdhcr is null), maintaining full local control over its operations and strategic direction.

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