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OUR MISSION STATEMENT
Crescent Bank and
Trust exists to provide the non-prime customer a consumer lending product
that creates an
opportunity to
build a positive credit experience, while striving to attain an above average
return for our shareholders
and creating an environment of advancement and
growth for our employees.
HISTORY OF CRESCENT BANK
Crescent Bank & Trust, a privately owned corporation,
was founded in 1991 by an investor group formed to acquire the assets of
Columbia Homestead, a savings and loan institution. On September 18, 1991,
the ownership group was granted a charter to open City Bank & Trust, a
$20 million, one-branch bank with 3 employees located on West Harrison Avenue in Lakeview.
Desiring to add to the deposit and loan accounts purchased
from Columbia,
the management team continued to purchase loan pools over the next few
months. In 1993, a decision was made that was to define and fuel the
explosive growth of the bank. Success resulting from the purchasing of loan
pools along with the management's previous experience in finance company
originations, led the Bank to develop a program to provide higher risk
consumers an alternative to conventional financing through automobile
dealers. The program, one of the nation’s first of its kind by a bank,
was highly regarded and an instant success. It has been imitated by many over
the years but never with the same level of achievement.
1994 was a year of expansion across Louisiana
for Crescent Bank. Loan offices were opened in Baton
Rouge, Lafayette, Lake
Charles, Alexandria and Shreveport to tap into
local indirect financing markets. These loan production offices have provided
a presence for the program across the state, giving the Bank penetration into
the local market. It was in 1994 that the bank's name was changed to Crescent
Bank & Trust.
Since that time,
Crescent Bank & Trust has expanded lending operations into many states
across the country, and continues to add locations every year. New Orleans remains the
home of the main operations center for Crescent Bank & Trust, in addition
to its retail branches.
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