The First Bank of Pike has been serving the people of Pike County since 1901. It received its charter in September of that year as the “Bank of Molena” when a group of local citizens worked together to buy out the Molena branch of the Barnesville Savings Bank. Those original stockholders are names still familiar to the people of Molena: Jordan, Brooks, Carriker, Hardy, Dunn, Willis and Lawrence. Since that time, the bank has acted as a partner with the communities it serves to assure the financial stability of the area.
Meeting the needs of its customers has always been an important role of the bank, and those needs have changed dramatically over the years. In 1916, for example, the Bank of Molena purchased a registered bull to be shared by the community to up-grade the quality of the local cattle. During the early years, items such as mules, milk cows, pigs, horses and buggies, bales of cotton, pianos, as well as automobiles, were listed as collateral on loans.
The Bank of Molena made its first installment loan in 1926. A Ford Tudor sedan was purchased by the Molena’s Rural Letter Carrier. Thirteen separate notes were made, each coming due one month after the other, for $33.30 each.
Surviving the 1926 financial panic and the great Depression following the 1929 stock market crash were a challenge to the Bank of Molena. Employees took pay cuts, stockholders shored the bank financially, and citizens of the community had enough faith in the bank to leave their money deposited in the bank, thus averting a run on the bank. All of these factors played a part in the bank weathering those turbulent times.
By the mid 1930’s, money had started to flow into the community again, and the Bank of Molena again saw black ink on its balance sheet in an era when many banks closed their doors forever.
The bank continued to grow, and by 1978, the building that had housed the business since the turn of the century was no longer large enough. A new bank building was completed that incorporated the original banking house entirely within it. The Molena branch has the original bank’s marble name and date embedded in its façade.
The growth and expansion continued with the opening of its Concord branch on August 7, 1989. The Zebulon branch was opened February 19, 1991, and the Bank of Molena changed its name to the First Bank of Pike to reflect its growing interests throughout the county.
The First Bank of Pike is proud of the part it has played in the history of Pike County. We pledge to continue to inspire the confidence of our customers, who are the bank’s most valuable asset.