History
Equitable Bank became a publicly owned company in November of 2005, after 125 years of service to its loyal customers.
Shortly after the community of Grand Island was incorporated, a small group of pioneers met and organized the Grand Island Building and Loan Association. They were soon granted a State of Nebraska Charter and opened for business in March of 1882. The first annual report showed assets of $15,485.20. In 1890, the name was changed to The Equitable Building and Loan Association of Grand Island, Nebraska.
By 1896, the association had outgrown its original offices and moved into the Grand Island Bank Company block at 214 N. Wheeler St. In 1913, a new building was erected at 112 N. Locust Street, across from today's Main Bank. The move was made across the street in 1959 to provide more space for increasing business, and in 1965 a drive-through branch was added behind the Main Bank on the corner of 2nd and Pine Streets.
Still needing more space, a second branch was opened at 1723 S. Locust Street in the Kmart Plaza. That branch, which was in the building now occupied by Skagway South, was closed in 1989. This closing followed the establishment of a branch in the north part of Grand Island in 1985, at 2261 N. Webb Road. But the growth didn't stop there. In 1991, the main offices were enlarged, utilizing space in the former Yancey Hotel, now called The Yancey.
Grand Island's present Northwest Branch was opened in September of 2000, replacing the facility on Webb Road. With more expansion in sight, property was purchased at 3012 S. Locust Street in 2004; this location was soon to house the bank's wealth management division and a loan production office. But still more expansion was in sight as 2005 saw the establishment of a branch in North Platte and a loan production office in Omaha. Omaha became a full-service bank in 2006.
A state to federal charter change on June 10, 1992, made the official name The Equitable Building and Loan Association of Grand Island, Nebraska, A Federal Savings Bank. But more name changes were also to be seen. The name was changed to Equitable Federal Savings Bank in June of 2001 and finally to Equitable Bank in November 2005.
The year 2005 saw corporate restructuring as Equitable Mutual Holding Company and Equitable Financial Corporations were established as Equitable Bank became a public stock company, with stock trading on the NASDAQ Over-the-Counter Bulletin Board under the trading symbol of EQFC. Equitable Financial Mutual Holding Co. holds approximately 54% of the stock in Equitable Bank. Also established in 2005 was Equitable Charitable Foundation, which will preserve the Bank's long-standing commitment to the communities in which it operates. For more information on corporate matters, click here.
Equitable Bank is a member of the Federal Deposit Insurance Corporation and of the Federal Home Loan Bank system.
