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Asheville Savings Bank, SSB
       
 
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Asheville Savings Bank, SSB
 
 
Mission statement: 

At Asheville Savings Bank we provide quality financial services to aid our customers in their economic growth and prosperity.
History: 

1930s - 1950s

The first charter was granted to Asheville Federal Savings and Loan Association in February 1936 and the Association opened in April that year. The first offices were at 12 Church Street (across the street from the current location) and Charles D. Parker was elected as the first President. In January 1942, Asheville Federal moved to 16 Church Street and by year-end the Association had almost 4,000 members and assets of just over $4 million. Continued growth resulted in moving again, to the street level floor at 18 Church Street, and by the end of 1955, assets stood at over $13 million.
1960s

The grand opening for the first branch of Asheville Federal, the Black Mountain Office, was in May 1960. During the early 1960's, the property at 11 Church Street was purchased from First Union National Bank and renovated. In September 1965, Asheville Federal moved into the current Main Office.
1970s

Our second branch, the Mars Hill Office, opened in 1974 and the Skyland Office opened in 1976.

In March 1978, the Main Office was renovated and a drive-through window added. Departments within the bank were organized and Money Market Certificates (6 month term, tied to the Treasury Bill rates) were authorized by FSLIC. The East Office opened in 1978 and the North Office in 1979. Assets at the end of 1979 totaled almost $161 million.
1980s

A merger occurred in 1981 --- with McDowell Savings and Loan Association in Marion (now our Marion Office). The West Branch opened in December 1981.
1990s

John B. Dickson, assumed leadership of the bank in 1990. Also in 1990, a Federal Mutual Charter was adopted and the bank name changed to Asheville Federal Bank.

In 1993, we adopted a State Savings Bank charter and the bank name was changed to the present Asheville Savings Bank.

The Hendersonville Branch opened in September 1992 and a mortgage lending office opened in Brevard in 1995.

In 1998, we established a Commercial Services Division and we are now offering a complete line of banking services to both individuals and businesses.
2000s

At the end of 2000 our assets exceeded $407 million. In early 2001 the Brevard Office expanded to offer depository services, in addition to the mortgage lending services already provided.

In 2001, our Office opened in the Reynolds Community. The Branch is located at the entrance to Eastwood Village on US74E (across from Reynolds High School).

In 2002 the announcement was made that Asheville Savings Bank would restore our Main Office, 11 Church Street to the historical beauty of the 1920's. Our Executive Management worked with the Historical Society to research the original architecture of the building. The restoration began in 2002 by removing the siding to expose the original granite exterior. Renovation of 18 Church Street began in March 2003. This building will act as a temporary facility for the Main Retail Office, Business Banking Division and Executive Management during the restoration of 11 Church Street. In mid-July 2003 the historical restoration should begin on 11 Church Street.

In February 2003, we moved into our new Operations Administration Center in the Enka Community. The new Operations Administration Center is located in the West Ridge Market Place.

In May 2003, construction began on the newest Retail Office in the Enka Community. This Office is located in the West Ridge Market Place across from the BASF plant. The Office opened November 3, 2003.

In July 2003, the Main Office in Downtown Asheville temporarily relocates from 11 Church St to a new remodeled 18 Church St (just across Church St). The reason for this relocation is to allow the Main Office at 11 Church St to undergo a complete historical restoration. The restoration will return the building to the grandeur of the 1928 era.

January 31, 2004, we ended the month with Assets just over $500 million.

On January 31, 2005, the Main Office in Downtown reopened for business. The excitement and anticipation had been building and on Monday, January 31, 2005, the newly renovated and historically restored 11 Church Street Main Office of Asheville Savings Bank opened for business in all (and more) of its’ original grandeur! It is a site to behold.

February 2005, we ended the month with Assets just over $550 million.

On August 12, 2005, the Brevard Office at 4 Chestnut Square closed only to reopen its doors on Monday, August 15, 2005, in a newly constructed building at 2 Market Street, in Straus Park, Brevard.

On January 1, 2008 Suzanne S. DeFerie assumed the position of President and CEO of Asheville Savings Bank.

On February 6, 2008 Asheville Savings Bank added the Town of Fletcher to the communities it serves. This new building is the home of our newest full service Branch.
Formerly known as: 

Asheville Federal Savings And Loan Association
Asheville Federal Bank - A Federal Savings Bank


 
 
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