Boom-era beginnings
Banking in Piedmont started during the 1890 economic boom with the Bank of Piedmont, opened with $50,000 in capital under president J.H. Ledbetter at North Main and Hood Streets. Its two-story building was later purchased by Dr. Joseph Allgood and sold to the city to become the Frances E. Willard II High School.
The First National Bank of Piedmont was established in 1909 by Maximilian Bethune Wellborn — a prominent businessman, chairman in the Federal Reserve system, and Alabama state senator from Anniston. Through later sales and mergers the bank became SouthTrust, then Wachovia, which merged with Wells Fargo before closing in Piedmont in 2018.
A hometown bank for a century
The Farmers and Merchants Bank opened on April 15, 1915 at 109 North Center Avenue, founded by Charley N. Thompson and J.H. Barlow — grandfathers of Margaret (Peggy) Thompson Latta. Leadership passed through the Thompson and Latta families for generations; Lin Latta became president in 1989 and serves today with his sons Chris and Chad. The bank moved to Ladiga and Church Streets on April 15, 1971 — exactly fifty-six years from its opening day — and now also serves Anniston, Oxford, Jacksonville, and Centre.
Noblebank & Trust of Anniston opened a Piedmont branch in 2008, later occupying the former Wells Fargo building on North Main Street.
