| West Alabama Bank & Trust | |
| Categories: |
Alabama Online Banking/Business Accounts Online Banking/Corporate Accounts Online Banking/Personal Accounts |
| URL: | http://www.wabt.com/index.html |
| Description: |
West Alabama Bank & Trust is the oldest financial institution in Pickens County, Alabama. In 1944, John L. Wade moved from Linden, Alabama, to Reform, Alabama, at the request of Reform’s Rotary Club. The same year, Wade established the Bank of Reform and served as the bank’s president, while Don Alexander served as vice president. Community leaders Dr. V.L. Ashcraft, A.D. Clemmons, Walter Swedenburg, Alexander, and Wade made up the first board of directors. When the Bank of Reform opened its doors on July 29, 1944, it was capitalized at $25,000. At the end of the first year, deposits totaled $477,815 with assets of $507,872. A Trend of Growth Under John Wade’s leadership, the bank experienced strong, steady growth. The bank thrived due to loyal customers and a healthy capital base. In 1975, Wade’s son Andrew C. Wade succeeded him as President & Chief Executive Officer, with John Wade remaining as Chairman of the Board of Directors. Total deposits in January 1975 were $7,554,045. In Andrew Wade’s judgment, a single bank in a small town would face difficulties competing successfully with the larger banks of Alabama. The Board of Directors—Don Alexander, James H. “Doc” Ashcraft, Walter Swedenburg, John Wade, and Andrew Wade—decided on a course of acquisitions and expansions in Pickens County. Mergers and Acquisitions Two major events in the bank’s history occurred in the next decade, both of which were instrumental in achieving this goal of growth and expansion. In 1984, the bank became known as West Alabama Bank. Following the company’s merger in 1987 with Aliceville Bank & Trust, the name changed once more to West Alabama Bank & Trust. Shortly after that, WAB&T acquired an office in Carrollton, the county seat, and grew to a $100 million commercial bank. In 1993, the bank expanded beyond the boundaries of Pickens County with the acquisition of three new offices: Former Secor Bank locations in Fayette, Livingston, and Butler. WAB&T arrived in Lamar County in 1997 by opening a branch in Millport. In 2000, the Perry County Bank of Marion, Alabama, was merged into West Alabama Bank & Trust. The most recent expansion occurred on January 1, 2006 when Merchants & Farmers Bank was acquired by WAB&T. Our office in Millport joined forces with the M&F team and moved into the former Merchants & Farmers building. We also gained offices in Kennedy and Tuscaloosa. West Alabama Bank & Trust is excited about this acquisition and we are looking forward to serving our new markets. The bank’s assets now total over $448 million, with twelve locations in Pickens, Perry, Choctaw, Fayette, Lamar, Tuscaloosa and Sumter Counties. A Commitment to Quality Service The bank’s first president, John L. Wade, believed in an emphasis on quality service to customers. As the bank and its service area have grown, West Alabama Bank & Trust has continued to place great importance on personal service, friendliness, and community involvement. The bank continued its commitment to customers, quality service, and community involvement with the able leadership of Aliceville’s J.E. “Bud” Sanders who served as Chairman of the Board until his death in 1994, and James V. Park until his death in 1996. John Wade, Bud Sanders, and J.V. Park left a legacy of high standards that West Alabama Bank & Trust continues as the bank changes and grows. Modern Technology and Old-Fashioned Values WAB&T now offers a wide variety of banking services, from consumer and business loans to construction and real estate financing. The bank’s deposit accounts are insured to the maximum amount allowed by law under the Federal Deposit Insurance Corporation (FDIC), and the bank is actively involved in a number of community development projects and programs. As bank technology has advanced in recent years, WAB&T has added automated teller machines (ATMs), telephone banking, debit cards, check imaging, a web site and other high-tech services PO Box 580 507 First Avenue West Reform, AL 35481 (205) 375-9573 FAX (205) 375-9578 |
| Title: | West Alabama Bank & Trust |
| Clicks: | 13 |
| Link Added: | 12-24-2006 |
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