Our decades of growth and success at Crescent Bank is rooted in our unique market niche of providing auto loans to high-risk consumers in over a dozen states throughout the U.S. Alongside our national lending programs, we’ve developed robust retail and business banking practices that serve a number of communities in Louisiana.
Crescent Bank began in 1991 when a small investor group led by Gary N. Solomon Sr. and Fred B. Morgan III purchased the assets of Columbia Homestead on Harrison Avenue in New Orleans for $20 million. The bank opened with only three employees as City Bank & Trust, but because the name was similar to banks elsewhere, it was changed a few years later. The name Crescent Bank & Trust (now just Crescent Bank) was chosen to pay homage to one of the nicknames of New Orleans, the Crescent City.
Crescent Bank began to open small Limited Purpose Branches (LPBs) throughout Louisiana to provide auto loans as well as an array of essential banking services to local markets. Success spurred the bank to start establishing Loan Production Offices (LPOs) in other states. Today the financial institution operates two full-service branches, seven LPBs, and three operation centers in Louisiana. In addition, we operate 31 LPOs in 15 states outside of Louisiana. The bank employs more than 600 people with assets in excess of $850 million, and our earnings consistently outstrip our similarly sized peers.
About Gary N. Solomon Sr.
In addition to his role of chairman and CEO at Crescent Bank, Gary N. Solomon Sr. has been an active venture capitalist for over 20 years with ongoing involvement in companies that employ over 1,200 people. Solomon graduated from the University of New Orleans in 1979 and is married with three children.
Solomon has been involved in philanthropic endeavors
throughout his career. He has been or is currently involved as a founder or
board member of the following organizations:
- American Red Cross
- Baptist Community Ministries
- Bayou District Foundation
- Bring New Orleans Back Commission
- Cystic Fibrosis Foundation of Louisiana
- Emeril Lagasse Foundation
- Fore!Kids Foundation
- GNO, Inc.
- Harry Tompson Center
- Louisiana Children’s Museum
- National Donor Awareness Foundation
- National Multiple Sclerosis Foundation
- New Orleans Business Council
- New Orleans City Park Improvement Association
- NOSF – New Orleans Start Up Fund
- St. Andrew’s Village
- St. Lillian’s School – Baton Rouge
- St. Martin’s Episcopal School
- St. Michael’s Episcopal School
- St. Paul’s Homecoming Center
- The Greater New Orleans Foundation
- Unified New Orleans Plan
- UNO Business School
- UNO Foundation
- UNO Presidential Search Committee
- UNO Research & Technology
Crescent Bank Board of Directors
Gary N. Solomon Sr., Chairman
Martha N. Solomon, Investor
Gary N. Solomon Jr., President, Solomon Group
Sam Mickal Solomon, President, Bancroft Property Investments, LLC.
Conway S. Solomon, Investor
Daniel Buckman, Consultant
Ronald Briggs, President, R. Briggs Enterprises
John Meltzer, President, CRE, CCIM, Meltzer Properties
Robert Redfearn, Senior Partner, Simon Peragine, Smith & Redfearn
Fred Morgan, President and Vice Chairman, Crescent Bank