Harrington Bank — A Brief History

In June of 1999, Harrington Financial Group, a holding company based in Richmond, Indiana, opened an independent operating unit in the Europa Center in Chapel Hill, North Carolina. This new bank opened its doors with the mission to bring true community banking back to the Raleigh-Durham-Chapel Hill area by establishing a high level of customer service not seen in other local banks. From a 2,000 square foot office space, the Bank's first four employees were able to grow its deposit base from zero to $32 million in just six months. The quick growth surprised even the Bank's President, Larry Loeser, but provided confirmation that there was a niche for a full service community bank.

To better serve its growing customer base, Harrington Bank obtained its own bank charter and became a full service, North Carolina-based, privately owned, community bank in December 2001. The Bank quickly found itself outgrowing its Europa Center office. Plans were made to relocate to the intersection of Highway 54 and Farrington Road, in a new building visible from Interstate 40 and convenient to Chapel Hill, Durham, RTP, and Raleigh.

On June 17, 2002, the new headquarters of Harrington Bank opened, offering a wide range of personal and business deposit accounts, loans and other services. The Bank began offering drive-up banking, safe deposit boxes, night depository, and a drive-up ATM. The building itself was designed with the Bank's customers in mind. From the eye-catching architecture outside, to the comfortable and welcoming interior, it is evident that this is not a typical bank.

Today, Harrington Bank has a dedicated Board of Directors, composed of successful individuals from the local business and academic community, and a progressive management team, with over 100 years of combined banking experience, leading its growth and progress. The focus of the Bank continues to be on providing a superior experience for its customers. Gourmet coffee, sodas, cookies, fresh flowers, internet accessibility, and satellite television are just of few of the unique comforts available in the Bank's lobby. The personal service, flexibility, and custom tailored banking services offered to the Bank's individual and business customers are hallmarks of Harrington Bank's commitment to community banking.

Early in 2005, our total outstanding loans reached the $100,000,000 mark. The Triangle market's demand for customized lending backed by excellent customer service has been the primary reason for the success of our small business, home equity and mortgage loan products.

In June of 2005, the Bank opened its first branch office in the Southern Village neighborhood of Chapel Hill. Southern Village and the surrounding area have given this branch and our version of community banking a wonderful reception. Like the Farrington Road office, it is a comfortable and welcoming place to do business.

In September of 2005, our customers' deposits at the Bank reached $100,000,000. These votes of confidence are extremely rewarding to the Bank's staff and owners. We are very encouraged about our future prospects and hope to see continued growth of our loyal customer base. All of us are committed to providing the high level of service upon which we have built our reputation.

We look forward to welcoming you in person when you stop by to visit us.

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