Question 1

What is Bank of Erath?

Accepted Answer

Bank of Erath is a community-focused commercial bank serving Vermilion Parish in Louisiana. With approximately $106 million in total assets and $92 million in deposits, this independent state-chartered institution specializes in commercial lending while maintaining deep roots in the local communities of Erath, Delcambre, and Abbeville. The bank operates three full-service branches and employs around 28 people.

Bank of Erath is held by Bank of Erath Holding Company, an S-Corporation formed in 2010, and maintains FDIC insurance while operating as a state-chartered, non-Federal Reserve member bank.

Question 2

When was Bank of Erath founded?

Accepted Answer

Bank of Erath was organized in August 1910 and officially opened its doors for business on November 18, 1910. The bank was founded by prominent local families whose names remain familiar in Vermilion Parish today, including Moresi, Caldwell, Broussard, and LeBlanc.

The institution became FDIC-insured in 1934, during the early years of the Federal Deposit Insurance Corporation. In 2010, the bank celebrated its centennial anniversary and was honored by the Louisiana House of Representatives with a resolution recognizing its 100 years of service to the community.

Question 3

Where is Bank of Erath headquartered?

Accepted Answer

Bank of Erath is headquartered in Erath, Louisiana, at 105 W. Edwards Street. The town of Erath is located in Vermilion Parish in the southern part of the state, within the Lafayette metropolitan area.

Question 4

Where does Bank of Erath operate?

Accepted Answer

Bank of Erath operates exclusively in Vermilion Parish, Louisiana, with three full-service branch locations. The main office is in Erath, with additional branches in Delcambre (opened October 22, 1962) and Abbeville (opened May 5, 1986).

All locations are situated within the Lafayette, LA Core Based Statistical Area, serving the local communities and businesses of southwestern Louisiana's Acadiana region.

Question 5

What services does Bank of Erath offer?

Accepted Answer

Bank of Erath provides a comprehensive range of banking services tailored to both personal and commercial customers. The bank specializes in commercial lending, including commercial and industrial loans as well as real estate-secured lending.

Personal banking services include checking accounts, with special offerings like free student checking accounts for those with valid student and state IDs. The bank also offers savings accounts and various loan products, including consumer lending and credit services.

Digital banking services include online banking, mobile banking through the Bank of Erath mobile app, mobile deposit for remote check deposits, and electronic statements (eStatements). These digital tools allow customers to manage their accounts and conduct banking transactions from anywhere.

Question 6

What makes Bank of Erath unique?

Accepted Answer

Bank of Erath has maintained its identity as the "friendly hometown bank" throughout its 114-year history, emphasizing personal relationships and local decision-making. The bank remains family-owned and operated, with current Chairman Paul G. Moresi III representing the great-grandson of founder Damas Moresi.

The institution's continuity is remarkable, with founding family names still represented on the board of directors, including Moresi, Caldwell, and Broussard descendants. This multi-generational leadership demonstrates a long-term commitment to the communities it serves.

Bank of Erath's focus on commercial lending specialization allows it to serve as a key financial partner for local businesses while maintaining the accessibility and personal service characteristic of community banks. The bank's small size (28 employees across three locations) enables direct communication between customers and decision-makers.

Question 7

What type of financial institution is Bank of Erath?

Accepted Answer

Bank of Erath is a commercial bank with state charter and non-Federal Reserve membership, supervised by the FDIC. This classification places it in the category of state-chartered community banks that focus on traditional banking services.

As a commercial bank, Bank of Erath emphasizes business and commercial lending while also providing retail banking services to individuals and families. The bank's commercial lending specialization means it dedicates significant resources to supporting local businesses through loans, credit facilities, and financial services tailored to commercial needs.

Question 8

How is Bank of Erath governed?

Accepted Answer

The bank operates under the governance of Bank of Erath Holding Company and maintains a board of directors with deep connections to the founding families and local community. Current board members include Paul G. Moresi III (Chairman), Dr. Howard Alleman, Robert Johnson, Vernon L. Caldwell III, Charley S. Steen III, Michael Broussard, and Thomas Pigott.

Paul G. Moresi, Jr. serves as President of the bank and represents the third generation of the Moresi family in bank leadership. This governance structure emphasizes continuity, local knowledge, and long-term relationships with the communities served by the institution.

Bank of Erath

in the United States 🇺🇸

Crypto-Friendliness

All done!

About Bank of Erath in the United States