Movement Bank opens in Randleman

RANDLEMAN — Randleman citizens have seen their banking options dwindle over the past couple of years as major names have pulled out of the city.

That changed on Jan. 27 when Movement Bank opened its new branch at 117 S. Main St., formerly the location of a Wells Fargo branch. 

The launch is the third among the bank’s growing network of community-based branches. Movement has loan production branches in Asheboro, Asheville, Greensboro and Charlotte and full service banks in Danville, Va., Fort Mill, S.C., and now, Randleman.

Bank officials plan to host a grand opening on Tuesday, April 19, beginning around 5:30 p.m., after normal business hours. A ribbon cutting will be sponsored by the Randleman Chamber of Commerce.

While Movement Bank is new to Randleman, the faces that customers will see in the branch are not.
Wayne Rowe is the branch’s vice president/executive market leader and branch manager. Many will remember Rowe from his days at Pinnacle Bank, BNC Bank and Randolph Bank & Trust. Rowe is joined by Luis Sanchez, Lisa Hayes and Amber Southard.

From time to time, visitors to Movement Bank in Randleman may see Greg Spainhour, another local who is no stranger to the area banking community. Now, most of his time is spent at Movement’s loan production office in Asheboro where he works on business and commercial loans but he gets out to the Randleman location, too.

Rowe said in an interview he believes banking customers look forward to seeing familiar faces when they come to do business.

“Our team knows the Randleman market well,” said David Rupp, Movement Bank president in a press release. “In our discussions with local leaders, we were impressed with their plans for the future of Randleman, and we have an exciting vision about how we can work together to make the community even more special.” 

Rowe said Movement Bank has a mission to provide access to financial services in underserved communities. The bank started in the basement of a church in 1919 as The Savings Bank of Danville as a minority-owned bank, Rowe said. According to the bank’s website, The Rev. Samuel Moses, who pastored a local Baptist church, sold $10,000 of stock to 200 shareholders to get the bank off the ground.

The bank changed its name to First State Bank in 1953. It was acquired by Movement Mortgage, based in Charlotte, in 2017.

Movement Bank offers everyday consumer financial services and a variety of mortgage options, as well as commercial lending and cash management products. Movement Bank debit cards are accepted at all ATMs around the country. Rowe said that if a competitor’s ATM charges a finance fee, Movement will reimburse its customers for the full amount.

He expects the Wells Fargo ATM in his branch parking lot to be removed sometime towards the end of May. Rowe said Movement Bank will replace that ATM with one of its own in June.

Rowe said there has been a trend in the banking industry towards online services. That’s OK, he said, because Movement offers a full line of digital banking services in addition to the smiling faces and friendly service it promises people will find in its brick-and-mortar operation.

“If you are in your 20s and you like to do your banking online, we provide that,” he said. “Or, if you’re older or you just prefer a traditional banking experience, we’re here for that. 

“We find that it is important to have a physical presence in the community because, at one time or another, everyone needs a place where they can walk in and find answers.”

Rowe hopes area businesses will also appreciate the convenience of a bank with a physical presence in the community. While many consumers may carry out most of their banking digitally, Rowe said businesses still need services like a place to buy change or to make large check deposits.

He added that Movement understands there are still people in rural communities who do not have a bank account. They need to be able to cash their payroll checks. He said when Movement Bank partners with area businesses, their workers can use the bank to do just that.

The bank offers a comprehensive suite of products and services, including checking, savings, money market, and certificates of deposit for individuals and businesses. The bank also specializes in mortgages, home equity, auto and personal loans for individuals, and lines of credit, commercial and real estate financing for businesses. Movement Bank offers online and mobile banking, credit and debit cards, and a range of other services.

Movement Bank is open Monday-Friday, 9 a.m.-5 p.m. To contact Movement Bank in Randleman, call 336-800-0373. Or visit it online at www.movementbank.com.