In 1933, Ernest Anderson and his brother, Bishop, established Anderson Brothers Bank in the rear of a tobacco warehouse in Mullins, S.C. This was to meet the need of tobacco warehousemen for financing to pay farmers following the sale of their tobacco. Founded on the mission of serving the community, Anderson Brothers Bank continues to operate as a full-service, family-owned community bank offering a complete range of loan and deposit products.
With 25 branches located throughout the Pee Dee, Coastal and Low Country regions of South Carolina, Anderson Brothers Bank serves both consumers and businesses alike. From home mortgages and small personal loans for individuals to convenient cash management and remote deposit capture for businesses, ABB is able to blend the elements of traditional personal service and advanced technology to meet customers’ financial needs.
“Thirty-six percent of our loans are consumer loans (auto and personal loans) versus only three percent for our peers. We make nearly 1,000 consumer loans per month to customers with credit scores as low as 550. These customers are underserved by banks and over charged by finance companies. This, along with our commercial loans and services, sets us apart from other banks,” says David E. Anderson, President/CEO.
In 2014, Anderson Brothers Bank set a goal to double in size to $1 billion in total assets by 2024. Due largely to the great reception in Horry County, the bank was able to achieve its $1 billion goal in 2020. Despite its growth, ABB continues to encourage and empower employees to “think like owners” in order to handle customers’ requests quickly and efficiently with minimum delay.
Looking ahead in 2021, the bank will complete several important milestones: a new 6,000 square foot employee training center in Mullins, construction of a call center in Aynor, and adding new administrative and retail space along the Grand Strand.
According to Anderson, “These projects and many more are what is required to remain competitive in today’s market.”
101 N. Main Street, Mullins, SC 29574