The year was 1909. The first Lincoln head pennies were minted, the Indianapolis 500 race track opened, and the Town of Fuquay Springs was incorporated.

Early that summer with $7,500 from investors in hand, a group of local businessmen met to form a financial institution to serve the town.

The average wage that year was 22 cents per hour, which meant the average worker only made between $200 and $400 per year. And even with the cost of sugar at four cents a pound, eggs at 14 cents per dozen, and coffee at the tune of 15 cents a pound, $7,500 was a sizeable amount of cash.

The Bank of Fuquay, which would later become Fidelity Bank, opened for business on August 10 in a one-room office with K. B. Johnson serving as the first president. In a matter of months, a new building was constructed, however, for the first six years of operation, Eugene Howard was the only associate and handled all of the bank’s business with the community.

By 1914 the capital stock of the bank had increased by $2,500 and in 1921, the initial capital had doubled.

In 1922, Robert Prince, a 24-year-old mail carrier, was hired by the bank and known as the “youngest cashier in the state.” Prince’s salary was $60 a month, however, records show that he supplemented it by performing janitorial duties at the bank for an extra 25 cents a day.

Robert Prince was named president of the bank sometime around 1945 and retired in that capacity in 1969. Brother, Can You Spare a Dime?

On October 29, 1929, known as Black Tuesday, the U.S. stock market took a major plunge and crashed. The nation’s economy collapsed, taking many international markets down with it. It was the beginning of the Great Depression, an era of long bread lines, bankruptcies and homelessness.

In 1932, E.Y. Harburg wrote the lyrics to Brother, Can You Spare a Dime? which became known as the anthem for many folks during the years when the entire nation was suffering from shattered hopes and dreams of the depression era.

Amazingly enough, throughout those devastating years, The Bank of Fuquay remained strong and steadfast.

In August of 1935, the bank celebrated its 26th year anniversary with a grand banquet at the Ben Wiley Hotel. The guest speaker of the evening was Carl Goerch, editor of The State Magazine.

The Ben Wiley Hotel, constructed in 1925 by local physician Wiley Cozart, was well-known as a venue for entertaining guests from around the state during holidays and special celebrations.

Today, the 84-year-old structure, located at 331 South Main Street, sports the name of Ben Wiley Apartments and is a Fuquay-Varina Historic Landmark as well as being listed on the National Register of Historic Places.

In 1936, a new vault door, weighing over 11 tons, was installed in the building that housed the bank. Excitement over the new oddity ran rampant, especially after the bank purchased a full page ad to run in The Independent newspaper inviting the public to see the new door.

The vault door, enhanced with intricate works and engravings, is still in use. Middle years

In the 1940s, the Robert Holding family of Smithfield purchased an interest in the bank as well as another financial institution, The Bank of Biscoe, which was following a parallel path as that of The Bank of Fuquay.

Robert Holding, Jr. went to work at The Bank of Fuquay and eventually served as its president and chairman of the board. Under his leadership and through the bank’s growth and desire to reach more people, the first branch office was opened in Cary in March of 1952.

On June 1, 1970, The Bank of Fuquay and The Bank of Biscoe merged and changed the name to Fidelity Bank. The new bank then served six towns. Fire

In March of 1946, fire broke out in a adjacent building which housed the Proctor-Barbour Company workshop. The fire was intense and the bank was closed until restoration was completed, however, the main structure was saved by a high fire wall.

Another fire in March of 1977 threatened the building when the entire front of the block burned. The bank was once again saved by high fire walls.

That same year Holding encouraged and helped plan the new home office of Fidelity Bank in Fuquay-Varina. Today

Fidelity Bank has grown and changed since the summer of 1909 when a handful of businessmen gathered with $7,500 and a lot of dreams.

But their concept has remained constant. Even though they’ve experienced massive growth, their roots remain in small towns and communities that have nurtured Fidelity Bank throughout the years. Their mission is to be the independent, sound and profitable bank that businesses and families come to first and bank with for life.

Still head-quartered in Fuquay-Varina, the bank owns and operates 69 branches in 26 counties throughout North Carolina and Virginia and currently has more than $1.5 billion in assets. The bank employs more than 450 people and leading the way is the current President and CEO, Mike Whitley. Recently rated five stars (a superior rating or the highest rating possible) by BauerFinancial, Inc., an independent ratings company that analyzes banks and credit unions, the Fidelity Bank offers excellent financial security, a strong equity base, top-notch asset quality, steady earnings and high liquidity. Fidelity Bank, once known as The Bank of Fuquay, located in Fuquay Springs, celebrated their 100th anniversary this year.