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FDIC-Insured – Backed by the full faith and credit of the U.S. Government
History

Our Beginnings

‍Piedmont Federal Bank got its start in 1903, when a small group of businessmen had the desire to help individuals and families achieve the dream of home ownership and build financial assets. It was the vision and effort of this group of founders to provide a safe and stable savings plan and an economical way for the average family to buy or build a home and pay for it in monthly installments.

They determined that the “Building and Loan” structure was the vehicle to accomplish this task, and formed the Piedmont Building & Loan Association.

1900-1909
Piedmont Building & Loan
April 21 ,1903
Certificate of Incorporation for Piedmont Building & Loan
JF Griffith
1st President - J.F. Griffith (1903-1914)
FOUNDING FATHERS
J.F. Griffith
Piedmont's First President
A.F. Moses
Piedmont's First Secretary-Treasurer
N.L. Cranford
D.G. Ford
W.A. Pegram
J.M. Rickard
L.M. Swink
J.G. Young
1903 Summary notes
Summary notes from the first meeting of the board of Piedmont Building and Loan - June 8th, 1903
January 1 ,1904
First Day of Business - Continuous operation ever since.
Piedmont federal first location
1st Location / 425 N. Liberty Street, Winston. Inside the same building as Piedmont Savings Bank.
1st Loan made for $500.00 - When sufficient deposits had been received, depositors would draw lots to see who would be the lucky one to buy or build their home.
1st Savings Plan - 25c per week - As little as 25 cents per week could be deposited to accumulate up to $100 per share. Once this was accomplished additional deposits could be applied toward another $100 share, and so on.
1907
Nicholas Mitchell became part-time bookkeeper for Piedmont Building & Loan.

A.F. Moses became the first Secretary-Treasurer. At the time he was the only paid employee at Piedmont Building & Loan and earned $10.00 per month.
1907 Second location
2nd Location / 308 N. Liberty Street, Winston. Inside the same building as Peoples National Bank.
1910-1919
Piedmont Building & Loan
January, 1911
Nicholas Mitchell became the Managing Officer and Secretary-Treasurer.
Nicholas Mitchell
In January, 1911, just a few years before Winston and Salem were officially merged into one city, Nicholas Mitchell was elected a director of the association and names its Secretary-Treasurer aand Managing officer. His salary was $25 a month.
Vintage Dollar Bills
1914
N.L. Cranford
2nd President. - N.L. Crandford (1914-1930)
1920-1929
Piedmont Mutual Building & Loan
June, 1921
Piedmont Building & Loan merged with Mutual Building & Loan to become Piedmont Mutual Building & Loan with $750,000 in assets.
Third Location
3rd Location / 302 1/2 N. Liberty Street, Winston-Salem.
1925
Fourth Location
4th Location / 16 West 3rd Street in Winston-Salem.
1928
Fifth Location
5th Location / 209 West 5th Street in Winston-Salem. Inside Wachovia Branch at 5th & Trade.
1930-1939
Piedmont Federal Savings & Loan
1930
The Great Depression
During this time of great national hardship, not a single dividend payment was missed and none of our depositors lost a single penny.
Great Depression
1930 Income Shares
A.C. Stewart
3rd President - A.C. Stewart (1930-1953)
1931
Sixth Location
6th Location / 16 West 3rd Street in Winston-Salem.
1935
Piedmont Mutual Building & Loan became Piedmont Federal Savings & Loan - the seventh financial institution in the nation to adopt a Federal Savings & Loan Charter.
1935 Charter
1940-1949
Piedmont Federal Savings & Loan
1940
Though many financial institutions failed during the Great Depression, Piedmont Federal emerged from that period stronger than ever.

The period between 1940 and 1949 proved to be a period of solid growth and performance for Piedmont Federal as illustrated by the newspaper clippings from that era.
1940 Newspaper Clippings
1940 Newspaper Clippings
1940 Newspaper Clippings
Below are examples of a financial statement and a savings account book from the decade.
1940 Financial Statement
1940 Account Book
1948
1940 Land Purchase
Piedmont Federal Savings & Loan purchased the land and buildings on the corner of 3rd and Liberty Street.
1950-1959
Piedmont Federal Savings & Loan
1953
Nicholas Mitchell
4th President - Nicholas Mitchell (1953-1960)
1953 Employees
Piedmont Federal employees circa 1953
1955
1955 Seventh Location
7th Location / Pepper Building on 104 West 4th Street while 3rd and Liberty was being razed for new construction.
1955 Construction
3rd and Liberty being razed for new construction.
1956
1957 Eighth Location
8th Location / December 30th moved to new facility at 16 West 3rd Street.
1957 Lobby
A look inside 16 West 3rd Street lobby.
1959
1959 Certificate
A certificate for Piedmont Federal Savings & Loan association issued to a customer in 1959.
1960-1969
Piedmont Federal Savings & Loan
1960's
Printed in the 1960's, the Financial Statements shown below illustrate the tremendous growth Piedmont Federal experienced during this decade.

This decade was marked by the opening of four new branches to serve the community.
1960 Financial Statement
1960 Financial Statement
1969 Financial Statement
1969 Financial Statement
N.W. Mitchell
5th President - N.W. Mitchell (1960-1981)
N.W. Mitchell serving a customer
N.W. Mitchell (picture circa 1945) serving a Piedmont Federal customer.
May 5, 1960
Northside Branch at Northside Shopping Center on North Patterson Avenue, Winston-Salem opened for business as an end-cap to the shopping center.
1960 Northside Branch
The Northside facility was the first remote branch and independently standing branch office for Piedmont Federal.

The building design for The Northside Branch became the prototype for all subsequent new branch offices.
1961
October 3rd - Kernsersville Branch at 203 North Main Street, Kernersville opened for business.
1964
June 3rd - Parkway Plaza Branch at 1101 Silas Creek Parkway, Winston-Salem opened for business.
1965
August 23rd - Thruway Branch at 395 South Stratford Road, Winston-Salem opened for business.
1970-1979
Piedmont Federal Savings & Loan
1970
Historic Milestones Realized and Four New Branches Opened
1970 Thanks a Million
1970 100 Million Staff Note
When the news came that Piedmont Federal had passed the $100 million mark in assets, bank president N.W. offered the letter of congratulations (shown above), to all employees of Piedmont Federal, thanking them for the vital role they played in helping the bank reach this historic milestone.
1971
May 24th - Sherwood Plaza at 3300 Robinhood Rd, Winston-Salem opened for business.
1973
February 26th - Boone Branch at 186 Watauga Village Drive, Boone opened for business, Main Office at 16 West 3rd Street completed a 3rd floor addition.
1974
1974 Modern Technology
June - With the acquisition of a state-of-the-art computer system, Piedmont Federal became one of the first local banking institutions to use real-time technology to modernize its operations.
1975
October 31st - Parkview Branch at 2915 Reynolds Park Road in the Parkview Mall Shopping Center opened for business.
1978
Piedmont Federal Celebrates Its 75th Anniversary
September 6th - North Wilkesboro branch at 200 Wilkesboro Avenue, North Wilkesboro opened for business.
1979
Piedmont Federal purchases the Pepper Building - a Winston-Salem Landmark located at 104 West 4th Street.
1979 Pepper Building
1980-1989
Piedmont Federal Savings & Loan
1981
Sixth President N.W. Mitchell
6th President - N.W. Mitchell (1981-2009)
National Linen Property
Purchase of National Linen Property - 201 South Stratford Road
1982
August 16th - Clemmons Branch at 3701 Clemmons Road, Clemmons opened for business.
1984
January 31st - Purchased the Standard Savings & Loan Building adjacent the Main Office.
1988
April 11th - Reynolda Road Branch at 2915 Reynolda Road, Winston-Salemopened for Business.
1990-2004
Piedmont Federal Savings & Loan
1990
April 2nd - Northside Branch relocated to an outparcel within the Northside Shopping Center complex purchased by Piedmont Federal at 3441 North Patterson Avenue.
1993
March 10th - Relocated Thruway branch (Stratford Branch) to 275 South Stratford Road, Winston-Salem.
Pepper Building Gifted
October 26th - Piedmont Federal gifted the Pepper and Crawford Building (104 West 4" Street and 110 West 4th Street) to the Downtown Winston-Salem Foundation plus $100,000 for the maintenance of the property.
2002
February 11th - Kernersville Branch relocated to 505 Pineview Drive, Kernersville.
2003
February 18th - Boone Branch relocated to 1399 Blowing Rock Road, Boone.
Piedmont Federal Celebrates 100 Safe & Sound Years As A Mortgage Lender
100 Years Emblem
2003 Safe & Sound Article
2004
April 6th - Parkway Plaza branch (Southpark Branch) relocated to 1040 Southpark Blvd.
2005-2012
Piedmont Federal Savings Bank
2006
March 13th - Sherwood Plaza Branch (Peace Haven Branch) relocated to2095 Peace Haven Road.
2007
The Next Generation
Moving forward into the 21st Century, Piedmont Federal thoughtfully crafted a dynamic strategy designed to assure that the bank would stay on the cutting edge of modern banking while remaining committed to the community we serve and the solid financial principles that have produced over 100 years of success.
2017 Whitepaper
2008
January 23rd - Piedmont FederalSavings and Loan Association changed its name to become...
PFSB Logo
2009
7th President - Richard F. Wagner, Jr.
7th President - Richard F. Wagner Jr. (2009-2017)
2010
November 8th - Northside Branch relocated (Hanes Mill Road Branch) to a new building at 5189 Northern Quarters Drive, Winston-Salem.
November 20th - Northside Branch at 3441 North Patterson Ave., Winston-Salem gifted to the Winston-Salem Urban League ($582,325) to become a Quality of Life Center.
2011
July 21st - Changed from Office of Thrift Supervision (OTS) to Office of the Comptroller of the Currency (OCC) as primary regulator.
2012
Downtown Main Office & Stratford Road Branch Relocated to 201 South Stratford Road, Winston-Salem
2012 Stratford Branch
Leadership quote
Leadership quote
Leadership quote
Leadership quote
2017-2021
Piedmont Federal Savings Bank
2017
Eighth President
8th President - Mike Hauser (2017-2019)
2019
August 19th - Palladium Branch at 3870 John Gordon Lane, High Pointopened for business.
Ninth President
9th President - David Barksdale (2019-Present)
2020
Piedmont Federal begins offering a variety of business lending options, including:

• Commercial Real Estate Loans
• Owner-occupied Real Estate Loans
• Equipment Financing
• Capital Financing
PS Recruitment
A yearlong, multifaceted training program for new bankers, with an emphasis on recruiting underrepresented populations within the banking industry.
Covid Pandemic
2020-2022
COVID PANDEMIC
MARCH 2020 - COVID-19 IS A GLOBAL PANDEMIC THAT HAS CAUSED OVER 6 MILLION DEATHS. EVERYONE IS ASKED TO WEAR FACE MASKS, SOCIAL DISTANCE, AND SELF-ISOLATE TO HELP STOP THE SPREAD.
2021
Leadership 360 logo
11 month mini-banking-school program, dedicated to training future leaders and providing them with the holistic tools needed to run the bank.
March 26th - Greensboro Loan Production Office at 303-C Pisgah Church Road, Greensboro opened for business.
2022
Piedmont Federal Savings Bank
Piedmont Federal Celebrates Hitting $1Billion in Assets
$1 Billion in Assets article
Piedmont Federal Savings Bank announces the launch of 1903 Title InsuranceCompany, LLC.
1903 Title Co
ROAR Downtown Branch
February 28th - Downtown Branch relocated to ROAR Building at 633 North Liberty Street, Winston-Salem.
Piedmont Plus logo
March - Piedmont Plus Bank @ Work Program is launched, offering bank benefits that build strong financial futures for employees whose companies partner with us.
March 1st - Lake Norman Loan Production Office at Birkdale Office Building at 8600 Sam Furr Road, Huntersville opened for business.
Piedmont Financial Holding Co
September 12th - Piedmont Financial Holding Company is formed. A mutual holding company is a parent company which can have multiple subsidiaries.

Piedmont Federal is now in a position to respond to future opportunities to expand services to our communities, customers, and teammates.
2023
Piedmont Federal Savings Bank
Piedmont Federal Celebrates Its 120th Anniversary
120 Years Logo