In the spring of 2017, the concept of Beacon Community Bank was developed by a group of local businessmen and women to fill a void created by recent mergers and acquisitions of a number of locally owned banks. At that time, only one local bank remained, when a decade prior there had been as many as seven.
As we all know, Charleston's growth during that same period was astronomical. Our group believed that our local businesses needed a better banking partner to continue to fuel that growth -a bank that was local, and understood the needs and demands of our community. As well as a bank that provided swift decision making and concierge service.
Ultimately, more than three hundred local individuals agreed and became founding investors in Beacon Community Bank, investing more than $34 million. This level of support was crucial to our ability to build the bank we felt was needed here in Charleston. As our Chairman often says, 'it's not my bank, it's not your bank, it's OUR bank'. We extend this sentiment not only to our shareholders, but to every person that comes in the door and allows us the privilege to serve them.
- January 8, 2018 - Open for Business at 578 East Bay Street in Charleston, SC. We begin with 14 full-time employees.
- September 2018 - We crossed over $50 million in assets.
- May 2019 - Opened our second branch at 966 Houston Northcutt Blvd. in Mount Pleasant, SC and have 24 full-time employees.
- August 2019 - We crossed over $100 million in assets.
- March 2020 - Through the government aided Payroll Protection Plan, we are able to loan $50 million dollars back to local businesses struggling during the COVID-19 pandemic.
- April of 2020 - We crossed over $200 million in assets. Virtually all of these dollars have been reinvested back into Charleston through the loans we make to our local customers.