Patterson State Bank
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History

In April 1925, E.F. Marin and Harry Williams formed Patterson State Bank by purchasing the assets of the Union Bank which was located in Patterson. The Union Bank was already showing deterioration in its assets and the country was starting to experience the early stages of a recession that would eventually lead to The Great Depression of 1929. Although Patterson State Bank was only four years old during the start of the depression era, it was able to withstand the full brunt of the economic downturn and weather the storm….a storm that caused many banks in the United States to close. Marin and Williams ran the bank conservatively and put personal customer service at the top of their priority list when dealing with bank customers. Personal customer service is still what makes this small community bank so popular.

According to the PSB Board Minutes written during the early years of the bank, it was not uncommon for a team of mules to be pledged as security for a loan. A crop pledge from one of the many plantations in the area was also common. 

During 1925, Williams was named president of the new bank and Marin was named its cashier. In 1936, Williams, the renowned aviator and financier, was killed in a plane accident that stunned the area. He was a colorful resident since he was married to a movie star, traveled a great deal and was included in interesting circles of people around the world. Patterson residents cherish memories of his deeds. After Williams’ death, R.N. Bauer was elected president of PSB. Later, during 1941, Marin purchased the Williams bank stock.

The second Marin generation got in the bank business when E.F. Marin involved his son, William R. “Bill” Marin, Sr., as the bank cashier in 1945. 

Following Bauer’s death in 1963, E.F. Marin became president of the bank. That year is remembered around the world as the year JFK was assassinated, and it was also the year that PSB deposits first exceeded $5 million.

In 1971, Bill Marin Sr. was elected president of the bank and his father E.F. Marin took the position of Chairman of the Board, a position he held until his death in 1974.

In January of 1975, PSB opened its Morgan City office on Victor II Blvd and installed the first ATM in St. Mary Parish in July of 1975. 

The untimely death of Bill Marin Sr., in 1977, brought about the third generation of the Marin family to hold the office of bank president. Bill Marin, Jr., who had been employed at the bank since the early ‘70’s, was elected president and Robert Watson, who was married to Jane Marin, daughter of Bill and Lovie Marin, was elected as chairman of the board.  In April 2011, Bill Marin, Jr. was named the Chairman of the Board and Robert Watson was named Chairman Emeritus.

The current PSB president, Peter J. Lipari, has held the office since 1988 and has been employed by the bank since 1971. According to Lipari a review of the minutes of the board meetings since 1925, indicates that the one constant during those years has been a personalized way of doing business. “From my first days at PSB, Bill Marin Sr. always taught that the bank’s philosophy was to know its customers and to do whatever it takes to make people feel comfortable when they come into the bank. So many businesses these days operate in terms of quantity and not quality. We feel that there will always be room for a bank that does an excellent job of giving personal customer service, and we intend to continue providing the type of service that would make Harry Williams and E. F. Marin proud.”

The bank opened its present main office, which is located on U.S. 90 West in Patterson, in 1985. Its Berwick office was opened in the early 1980’s. During 1998, the bank was the first bank in St. Mary Parish to introduce internet banking, which included bill pay. In 2003, PSB invested in an industry leading check imaging system and during the latter part of 2005, the bank did an upgrade in its core banking system with the latest technology that provides bank customers with improved products and services.

Patterson State Bank has persevered during the recent worldwide banking crisis as well as during the past and present economic downturns. We look forward to standing strong with our local communities and hope to continue serving this area with excellent customer service.

Year Total Deposits Total Loans Total Assets
1925 303,000 208,000 363,000
1935 332,000 91,000 394,000
1945 2,300,000 400,000 2,400,000
1955 3,300,000 1,300,000 3,600,000
1965 6,500,000 2,300,000 7,100,000
1975 17,500,000 10,600,000 19,700,000
1985 51,100,000 28,300,000 57,700.000
1995 51,200,000 20,800,000 55,300,000
2005 128,400,000 104,600,000 149,000,000
2010 187,414,000 141,279,000 213,268,000

 

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