Question 1

What is Troy Bank & Trust?

Accepted Answer

Troy Bank & Trust is a community bank based in Troy, Alabama, serving Southeast Alabama, East Alabama, the River Region, and the Wiregrass area. With assets exceeding $1.6 billion, the bank operates 13 branch locations across Alabama in communities including Troy, Goshen, Ariton, Brundidge, Dothan, Opelika, Elba, New Brockton, and Enterprise.

Troy Bank & Trust positions itself as "the only bank you'll ever need" by offering comprehensive banking services combined with trust and investment capabilities that extend beyond traditional community bank offerings. The bank maintains a unique ownership structure that ensures its independence and commitment to local decision-making.

Question 2

When was Troy Bank & Trust founded?

Accepted Answer

Troy Bank & Trust was organized on September 5, 1906, with capital stock of $50,000. Among the original organizers and first directors were Charles Henderson, J.C. Henderson, W.C. Windham, and W.C. Black.

Charles Henderson, who also served as Alabama Governor from 1915 to 1919, became the bank's first president and continued in that role until his death in 1937. The bank opened its first location on North Three Notch Street before moving to 70 West Court Square in 1908. Over the decades, the bank continued expanding, establishing new locations and eventually building its current main office on U.S. Highway 231 in 1992.

Question 3

Where is Troy Bank & Trust headquartered?

Accepted Answer

Troy Bank & Trust is headquartered in Troy, Alabama, in Pike County. The main office is located on U.S. Highway 231, where it has been based since 1992.

Troy serves as the nucleus of the bank's legacy market, where Troy Bank & Trust holds approximately 80% of the local market share.

Question 4

Where does Troy Bank & Trust operate?

Accepted Answer

Troy Bank & Trust operates 13 branches across Southeast Alabama, serving Pike County and surrounding regions. The bank has locations in Troy (four branches), Goshen, Ariton, Brundidge, Elba, New Brockton, Enterprise, Dothan (two locations), and Auburn-Opelika.

The bank's footprint covers the Wiregrass region, East Alabama, and extends into the River Region. Troy Bank & Trust has plans to expand into additional Alabama markets including Huntsville, Gulf Shores, and Mobile, positioning itself to serve communities across the state.

Question 5

What services does Troy Bank & Trust offer?

Accepted Answer

Troy Bank & Trust offers a comprehensive suite of banking services including consumer and commercial lending, checking and savings accounts, certificates of deposit, and mortgage products. The bank provides both retail banking services for individuals and families as well as commercial banking solutions for businesses.

Beyond traditional banking, Troy Bank & Trust distinguishes itself by offering investment services and trust services that most community banks do not provide. These wealth management and estate planning capabilities reflect the bank's commitment to serving as a complete financial services provider.

Digital banking services include online and mobile banking platforms that provide modern convenience while maintaining the personalized service of a community bank. All lending decisions are made locally, ensuring prompt responses to customer needs.

Question 6

What makes Troy Bank & Trust unique?

Accepted Answer

Troy Bank & Trust has an extraordinary ownership structure that guarantees its perpetual independence. When Governor Charles Henderson died in 1937, his will created a perpetual charitable trust that transferred his 51.12% majority ownership of the bank's stock into the trust, with Troy Bank & Trust named as trustee.

The will explicitly states that the bank stock can never be sold, meaning Troy Bank & Trust can never be acquired by another institution. This provision has been challenged and upheld by the Supreme Court twice, ensuring the bank will always remain a community bank.

While Troy Bank & Trust can acquire other banks, no outside entity can ever take over the institution. This unique charter ensures lasting local ownership, stable leadership, and unwavering commitment to the communities served.

Question 7

What type of financial institution is Troy Bank & Trust?

Accepted Answer

Troy Bank & Trust is a state-chartered community bank operating as a traditional commercial bank. The bank provides both retail banking services to individuals and families as well as commercial banking services to businesses.

As a community bank, Troy Bank & Trust emphasizes local decision-making, personalized service, and long-term customer relationships. The bank's structure allows it to maintain accessibility and hometown service while offering resources and capabilities typically associated with larger regional institutions.

Question 8

How does Troy Bank & Trust support the community?

Accepted Answer

The Charles Henderson Trust, created by the bank founder's estate, focuses on addressing health and educational needs in the region. The trust provides funding to the Charles Henderson Child Health Center, which serves children in 12 counties across Alabama.

The health center operates with a mission similar to St. Jude Children's Research Hospital, providing pediatric care, dental services, nutrition programs, vaccinations, reading programs, and interpreter services. No child is turned away based on inability to pay, with the trust's funding enabling essential healthcare access for families in need.

Troy Bank & Trust recently endowed the Troy Bank & Trust Community Banking Chair at Troy University with a $1.5 million gift, honoring Governor Charles Henderson's legacy. This endowed chair supports banking education and strengthens the connection between the bank and the community it serves. Bank employees actively participate in community organizations, serve on nonprofit boards, discuss financial literacy in schools, and volunteer their time building Habitat for Humanity homes, including offering interest-free mortgages on these homes.

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