ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Friday, April 12, 1996 TAG: 9604120053
SECTION: CURRENT PAGE: NRV-2 EDITION: NEW RIVER VALLEY
DATELINE: PULASKI
SOURCE: PAUL DELLINGER STAFF WRITER
The formal dedication of Community National Bank came a little late Thursday.
The building at Memorial Avenue and U.S. 11 has, after all, been occupied since the end of 1994.
What's more, said President and Chief Executive Officer Wayne Carpenter, the bank - started in August 1994 in temporary quarters - has grown into a $20 million institution, which amounts to growth of about $1 million a month.
It already has loans to local customers totaling nearly $9 million.
It is also about the only place in Pulaski where people can still rent a safe-deposit box. Other banks are running out of them. Carpenter said Community National still has some left and intends to install more.
Community National Bank had its beginning three years ago when 11 county citizens, now its board of directors, announced plans to organize it.
Dublin Town Manager Gary Elander, also representing the Pulaski County Chamber of Commerce at the dedication ceremony, recalled the months of those directors working to meet the various banking regulatory requirements to establish the county's only home-owned bank. Jerry White, representing the county Board of Supervisors, said it started as a vision by local people that has now been realized. "This locally owned and developed facility represents a milestone in community development," said Pulaski Mayor Andy Graham.
The sale of stock in the bank ended in mid-1995. It is now difficult to buy, Carpenter said, because none of the earlier purchasers are selling.
Hiawatha Nicely, board chairman, reminded those attending the outdoor ceremony of the bank's motto "that we do have our roots where others have branches."
Community National operates longer than traditional banking hours, with its lobby open weekdays from 8:30 a.m. to 6 p.m., and 8:30 a.m. to 12 noon Saturdays. It has two officers, eight full-time and six part-time employees, and plans to add more lending staff soon.
LENGTH: Short : 43 linesby CNB