The building which formerly housed First Citizens Bank on Main Street in Six Mile will soon reopen as a new “rural banking concept” branch of Carolina Premier Bank, with the trade name Our Bank.

Town joins with N.C. bank to

test ‘rural banking concept’

SIX MILE — After being without a bank for more than two months now for the first time in nearly a century, the town of Six Mile will soon be home to a bank once again.

Officials announced Friday that Six Mile has joined forces with Carolina Premier Bank, a North Carolina state-chartered bank, to create a branch under a “rural banking concept.”

The town had been home to a bank since 1919, when the Bank of Six Mile was chartered, until First Citizens Bank closed its Six Mile branch in April. The new bank, set to be operated under the trade name Our Bank, will be located in the former First Citizens building on Main Street.

In the wake of First Citizens’ departure, a group of town officials, led by town councilman James Atkinson, began a search for a new bank. Upon hearing of Carolina Premier Bank’s vision to bring banking services back to rural markets that are underserved or had lost their banking branches due to regional and national bank consolidations, the group contacted bank president and CEO John S. Kreighbaum.

“He exhibited a clear understanding of the importance of access to banking for rural communities,” Atkinson said. “He talked a lot about the need for focus on rural and underserved markets relative to banking services.

“We seemed to immediately share a philosophical common bond, and here we are today.”

Kreighbaum said demand is still high for rural banking in many areas like Six Mile.

“Notwithstanding the advent of modern technology, our research on rural banking suggests that while more and more people have access to online systems that allow them to conduct certain types of banking without a nearby branch, this technology is not available or adopted by everyone,” he said.

Working in collaboration with town officials, the bank has invested considerable time in studying the feasibility for opening in Six Mile.

“We made the final decision to move forward with the office following a meeting with members of the business community in an open forum,” said Kreighbaum. “We were astounded by the pride and passion for a bank. The emotion and support for banking by this group affirmed that the rural banking concept we have been working on for about two years had finally found a perfect beta site. We are very concerned that we have arrived at a time when banking services are being withdrawn by major banks to consolidate services or move out of rural areas completely.”

Six Mile mayor Roy C. Stoddard said the agreeement will be mutually beneficial for both the town and the bank.

“The strategic relationship and collaboration with Carolina Premier Bank can be viewed as the textbook case ‘win/win’ in providing appropriate banking services to our town,” Stoddard said.

Carolina Premier Bank was chartered in 2007 and is headquartered in Charlotte. It is recognized as being one of America’s most innovative banks offering advanced electronic banking, concierge services and old-fashioned interaction with customers. It serves personal and small business customers throughout the Charlotte region with offices in both North and South Carolina. It is FDIC insured and a member of the Federal Home Loan Bank of Atlanta.

The creation of the branch bank in Six Mile is subject to regulatory comment and approval by the North Carolina Commissioner of Banks and the FDIC.