Built in Avoyelles, Investing in Avoyelles: Why Local Banking Still Matters!

Built in Avoyelles, Investing in Avoyelles: Why Local Banking Still Matters

Across America, locally owned banks are becoming increasingly rare. Many communities now rely on financial institutions headquartered hundreds—or even thousands—of miles away with no knowledge or personal interest in the local community. Avoyelles Parish, however, still has a
bank that is locally owned, locally operated, and deeply rooted in the community it serves...The Cottonport Bank.

Founded in 1902, The Cottonport Bank has been part of the foundation of Avoyelles Parish for 124 years. It is the oldest bank in Avoyelles with 62 shareholders in Avoyelles alone. Through prosperous times and difficult periods alike, the bank has remained committed to serving its
customers, investing in the community, and maintaining safe banking practices that have allowed it to stand the test of time. That commitment has earned the bank consistent recognition as a five- star rated institution by independent rating services.

Community Commitment

The bank’s commitment to Avoyelles is evident in many ways. The bank operates eight branches within the parish—more than any other bank serving the area, contributes tens of thousands of dollars each year to local schools, nonprofits, and community initiatives, and supports public projects by donating property and facilities.

Over the years, The Cottonport Bank has also supported several public projects by donating property and facilities. The Avoyelles Parish Library building in Cottonport and the library branch location in Effie were both donated by the bank. More recently, the bank provided land for Unity Park in Cottonport, a public walking and exercise park. It has also assisted local government by selling property at reduced prices for facilities such as the Avoyelles Parish District Attorney’s Office and the Marksville Water Department. Through its affiliates, it has donated the land for the Avoyelles Public Charter School and sold the City of Marksville its City Hall.

The bank has also created initiatives to recognize those who serve the parish. The Avoyelles Veterans Monument in front of the Mansura branch honors military service members, and the annual Burger-4-Badges event provides appreciation meals for local law enforcement and first responders. Soon, the bank will launch The Cottonport Banc Foundation, designed to further assist the parish and the communities it serves.

Economic Impact

Beyond its community involvement, The Cottonport Bank is also a major employer and taxpayer in Avoyelles Parish. The bank employs 147 people overall, including 106 in the parish, with approximately 72 percent of employees living locally. Over the years, it has grown substantially and even has an insurance agency that writes all types of insurance. With 18 buildings in Avoyelles Parish, more than $575 million in assets, and over $5.2 million in local payroll— where the average salary exceeds the parish average by about $10,000—the bank ranks among
the parish’s largest employers and taxpayers.

Its economic impact extends even further. Each year, the bank spends roughly $900,000 with Avoyelles Parish businesses for goods and services, supporting additional jobs and economic activity throughout the community.

The Cottonport Bank also serves as a significant economic engine for the parish. Avoyelles residents currently have more than $266 million in deposits with the bank. Those funds are reinvested locally through more than $140 million in loans and community bonds.

Today, the bank holds about $40 million in local home loans helping families achieve the dream of homeownership, and more than $50 million is currently on its book reflecting money that has been lent to small businesses—the economic backbone of the parish. Over the years, thousands of consumer loans have helped residents meet every day needs and pursue new opportunities.

Personal, Trusted Bankers

Customers also benefit from the bank’s local ownership. Because key operations—including loan processing, deposit services, accounting, administration, and information technology—are based in Avoyelles Parish, decisions can be made quickly by people who know and understand
the community. That personal service is something customers say sets the bank apart. “We have been using Cottonport Bank for more than 15 years and have always received great customer service,” said Mr. and Mrs. Tassin. “It’s nice to walk into the bank and see familiar faces and a warm welcome.
They have helped us with both business and personal matters throughout the years, and they feel like family to us.”

Long-time customer, Mr. Jeansonne, has had similar experiences. “I prefer small, hometown banking where they know your name and treat you with respect,” he said. “I got my first house loan with Cottonport Bank 30 years ago and have been with them ever since.”

Local businesses have also benefited from the bank’s willingness to invest in the parish. “During the early stages of launching our company, Cottonport Bank stepped forward and believed in what we were building,” said representatives of Delta Engineering Group in Mansura. “Their willingness to work with us and provide financing during our startup phase helped us establish a
strong foundation for our business.”

Another Avoyelles business credits the bank with helping them expand. “If not for The Cottonport Bank and its loan officers, our business would not have grown into what it is today,” said Mr. and Mrs. Spinner of Atchafalaya Metals. “They helped us purchase equipment, land and a new building so we could better serve our customers and community.”

Agriculture has also long been a priority. Since its founding, The Cottonport Bank has remained committed to agricultural lending, supporting one of the parish’s oldest and most important economic drivers.

The Future

Beginning July 2nd of this year, the bank’s anniversary, The Cottonport Bank will begin celebrating its 125th anniversary, marking one and a quarter century of service to Avoyelles Parish. At the same time, the bank will roll out exciting new technology as it continues investing in the future with advanced mobile and online technology designed to better serve customers.

As CEO A. J. Roy III says, “We love Avoyelles. It is home! The best years for our parish and this bank are yet to come.”

In the end, the importance of a locally owned bank goes beyond financial services. It means local jobs, local investment, and personal financial advice and assistance by a competent bank family who care deeply about the community they call home.