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| Additional information |
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| Macon Bank, Inc. |
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History:
During the summer of 1922, a young Franklin, North Carolina attorney, Gilmer A. Jones, had an idea - one that was to contribute much to the progress of Macon County - the organization of a building and loan association. He recognized an urgent need for an institution offering citizens an opportunity to become home owners, and a depository that would pay a good rate of interest on individual savings in Macon County. The Franklin Press dated August 25, 1922, stated that: "An organization that is destined to do more for the upbuilding of our town than anything that has ever been attempted here was formed last Saturday night." Mr. Jones' idea became reality, when on October 6, 1922, the Macon County Building and Loan Association opened its office upstairs above the Bank of Franklin Building.
The association remained small for several years. However, even during the real estate "bust" and the Great Depression of the early 1930's, not a penny was lost on a loan. By 1963, assets had grown to $2.6 million. The original small office had become inadequate and a full time manager was needed. In 1964 the Association moved to a building at the corner of West Main and Maple Streets. The Association signed up that same year for insurance of deposits provided by the Federal Savings and Loan Insurance Corporation. The rate of growth increased sharply thereafter.
In October of 1972, Macon Building and Loan Association changed its name to Macon Savings and Loan Association. Macon Savings continued to grow and opened its first branch office in downtown Murphy in 1981, as the bank approached its 60th year.
In 1985, Franklin's main branch moved into the new colonial-style building located in the heart of downtown Franklin. On June 25, 1988, during a severe electrical storm, the building was struck by lightning and completely destroyed. Although disaster had struck, Macon Savings never missed an hour of service. The drive-thru lanes were kept open and other operations were moved to the Maple Street location for the year required for reconstruction.
In 1989 Macon Savings and Loan Association became Macon Savings Bank and continued to enjoy record growth. Since 1993 and now known as just Macon Bank, ten more branches have been opened, including another in Franklin at Holly Springs Plaza, one in Highlands, Brevard, Sylva, Cashiers, Arden, Columbus, Saluda and two in Hendersonville.
As a mutually-owned, locally-controlled financial institution, the Board and management of Macon Bank maintain a strong commitment to remaining independent.
The Bank's corporate headquarters overlooks the Franklin area from a site on a ridge to the east of US Highway 441. Increased efficiency has resulted by consolidation of staff that had previously been located in multiple rental locations. The 36,000 square foot building houses the corporate offices, loan processing and a training facility.
Macon Bank is like no other local bank. Bank staff and directors are community residents. The people deciding your loan status often are your neighbors and friends. Also, Macon Bank is not stockholder controlled. Management decisions are not based on turning profits each quarter – the decisions are made with only the best interest of the bank and customers at heart.
We are proud of our roots beginning in 1922 with one small building in Macon County, North Carolina to today with 11 full service branches. Our branches now serve Brevard, Cashiers, Columbus, Hendersonville, Highlands, Franklin, Saluda, Sylva and Murphy. |
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| Formerly known as:
Macon Savings Bank |
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