Question 1

What is Progressive Bank?

Accepted Answer

Progressive Bank is a community-focused commercial bank headquartered in Monroe, Louisiana, serving customers across North Louisiana. With approximately $752 million in assets and $670 million in deposits as of August 2022, Progressive Bank operates nine financial centers throughout the region.

The bank has evolved from its agricultural banking roots into a comprehensive financial services provider, offering retail and commercial banking, wealth management, and investment services. Progressive Bank emphasizes personalized customer service and positions itself as a financial solutions leader in its markets.

Question 2

When was Progressive Bank founded?

Accepted Answer

Progressive Bank was founded in October 1975 in Winnsboro, Louisiana, originally as Progressive State Bank. The bank was established by George W. Cummings, Jr., who served as its founder and first president.

The institution was created primarily to serve the special banking needs of the agricultural community in the Franklin Parish area. Under Cummings' leadership, Progressive State Bank grew to over $42 million in assets by the end of 1996. In 1997, under the guidance of CEO George W. Cummings III, the bank expanded beyond Franklin Parish into the Monroe market and changed its name to Progressive Bank.

Question 3

Where is Progressive Bank headquartered?

Accepted Answer

Progressive Bank is headquartered in Monroe, Louisiana, at 1411 North 19th Street. This location serves as the bank's Corporate Office and 19th Street Financial Center.

Completed in 2004, the Monroe headquarters houses multiple divisions including Retail Banking, Wealth Management and Investment Services, Private Banking, Commercial Banking, Residential Lending, and Commercial Treasury Management. The facility also serves as the hub for the bank's technology network and includes a state-of-the-art training center in an adjacent annex building.

Question 4

Where does Progressive Bank operate?

Accepted Answer

Progressive Bank operates exclusively in North Louisiana, serving multiple parishes through nine financial center locations. The bank's geographic footprint includes Monroe, West Monroe, Winnsboro (Franklin Parish), Bossier City, and Shreveport.

Specific locations include the North 19th Financial Center and Lamy Lane Financial Center in Monroe, the Cypress Street Financial Center and Trenton Financial Center in West Monroe, the Winnsboro Financial Center, the Airline Financial Center in Bossier City, and three Shreveport locations on Fern Avenue, Youree Drive, and Ellerbe Road. The bank's expansion into Northwest Louisiana began in 2008 with the Bossier City location, followed by Shreveport offices in 2010 and 2019.

Question 5

What services does Progressive Bank offer?

Accepted Answer

Progressive Bank provides a comprehensive suite of banking and financial services to both personal and commercial customers. Personal banking services include checking and savings accounts, with specialized products like Rewards Checking that offers rewards interest or cash back options.

The bank offers various lending services including residential mortgages, home equity loans, and consumer loans. Commercial banking services encompass business deposit accounts, commercial lending, and commercial treasury management solutions.

Progressive Bank distinguishes itself by offering full wealth management and investment services, private banking, retirement services, and 401(k) plans—making it one of only a few community banks in Louisiana with such comprehensive investment capabilities. Digital banking services include mobile banking with features like mobile check deposit, card control, fund transfers, bill pay, and integration with Zelle for secure payments. The PB Mobile app is available on iOS and Android platforms, providing customers with 24/7 account access.

Question 6

What makes Progressive Bank unique?

Accepted Answer

Progressive Bank stands out through its commitment to maintaining community banking values while offering sophisticated financial services typically associated with larger institutions. The bank is one of the few community banks in Louisiana that provides full investment and wealth management services alongside traditional banking products.

The institution operates under the "Progressive Bank Pledge," introduced by founder George W. Cummings, Jr., which emphasizes service excellence and helping customers achieve their dreams. Despite significant growth—from $46 million in assets in 1997 to over $812 million by June 2024—the bank has maintained its personal touch and dedication to local markets.

Progressive Bank's agricultural banking heritage continues to influence its approach to relationship banking, even as it has evolved into a modern financial services provider. The bank has invested heavily in technology infrastructure and digital banking capabilities while preserving its commitment to in-person customer service through its nine financial centers.

Question 7

What type of financial institution is Progressive Bank?

Accepted Answer

Progressive Bank is a state-chartered commercial bank. It operates as a full-service community bank that serves both retail and commercial customers across North Louisiana.

As a commercial bank, Progressive Bank accepts deposits, makes loans, and provides a broad range of financial services to individuals, businesses, and organizations. The institution is FDIC-insured and operates under state banking regulations, holding FDIC Certificate Number 22139. Progressive Bank functions as an independent community bank with local decision-making authority, allowing it to respond quickly to customer needs while maintaining strong ties to the communities it serves.

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