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Crescent Bank & Trust
USINFO | 2013-08-20 14:03
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.
