Lexington State Bank
 |
|
| Industry | Banking |
|---|---|
| Fate | Merged with FNB Southeast |
| Successor | NewBridge Bank |
| Founded | 1949 |
| Defunct | 2007 |
| Headquarters | Lexington, North Carolina |
|
Key people
|
Robert F. Lowe, Chairman and CEO |
|
Number of employees
|
417 |
Lexington State Bank (commonly known as "LSB") was a banking company based in Lexington, North Carolina. Its motto was "The Bank" and its slogans were "Beeline Banking", and "Easy as L-S-B". The bank had 29 branches across the Piedmont Triad region operating in Davidson, Stokes, Forsyth, Guilford, and Randolph counties of North Carolina. LSB Bancshares, Inc. (NASDAQ: LXBK) was the holding company for Lexington State Bank. In 2007, it merged with FNB Southeast to form NewBridge Bank.
LSB was founded in 1949 by Dr. J. A. Smith, a physician, founder of Lexington Hospital, Chairman of the Lexington Utilities Commission, and two-term North Carolina Representative. Shares of the company were sold to citizens of Davidson County, North Carolina who were willing to buy them. The first banking office opened in uptown Lexington's Courthouse Square on July 5, 1949, one day after Independence Day. Dr. Smith became the new bank's President and Chairman of the Board. Assets at the close of business on December 31, 1949, totaled $1,845,680.82, including loans and discounts of $799,626.92. Liabilities included deposits of $1,602,541.59 and other liabilities of $22,201.84, capital of $150,000 and surplus of $70,937.39.
...
Wikipedia