Page 54 - South Mississippi Living - August, 2016

BUSINESS & INDUSTRY bank on it
WHERE PEOPLE
COME FIRST!
The Peoples Bank celebrates 120 years serving the Gulf Coast
story by Ed Lepoma Lphotos courtesy of The Peoples Bank
ike the historic Light House on front beach, The Peoples Bank in downtown Biloxi stands as a symbol of resilience and hope. The bank’s stately brick building at the corner of Lameuse Street and Howard Avenue has endured World
Wars, hurricanes, the Great Depression and recessions, and is flourishing. It’s the oldest bank on the Mississippi Gulf Coast.
Biloxi was experiencing rapid growth near the end of
the 19th Century due to its booming seafood, timber and tourism industries, and was declared a city by Gov. A.J. McLaurin when its population reached 5,000. The bank was organized to address the need for banking services.
The first Peoples Bank was located on the northwest corner of Howard Avenue and Lameuse Street and officially opened for business April 15, 1896. It remained there until 1925 when it moved to its present location.
The Swetman family has been associated with the bank since its inception. J.W. Swetman was one of the founders, and his brother, Orcenith George (O.G.) Swetman joined
LEFT: THE PEOPLES BANK original home of ce (circa 1896). MIDDLE: THE INTRODUCTION of computers in the 1960s. RIGHT: A DRIVE-UP window in the 1950s.
the bank in 1903 as an assistant teller, then served as the president and chief executive officer from 1951 to 1963. O.G.’s son, Glen L. Swetman, succeeded his father in 1963, serving as president and chairman of the board until 1983 when he was succeeded by his son, Chevis C. Swetman, who is the current CEO.
Swetman, who represents the third generation of his family with the bank, credits its success to strategic planning. “In the late 1980s, the local economy was struggling, and, in conjunction with local business leaders, we led efforts to diversify and stimulate the economy, bringing the state legislature to legalize gambling — an industry that continues to attract investment along the entire Coast,” he said.
For more than 118 years, The Peoples Bank has provided financial products and services to the Mississippi Coast. The Swetman family has been instrumental in preserving the area’s heritage, establishing The Peoples Heritage Foundation in 1981 to further preserve and restore local structures of historical significance.
The Peoples Bank operates 18 branches in Hancock, Harrison, Jackson and Stone counties and is a wholly- owned subsidiary of Peoples Financial Corporation, listed on the NASDAQ Market under the symbol PFBX.
54 SOUTH MISSISSIPPI Living • August 2016
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The Peoples Bank
228.435.5511 www.thepeoples.com