In 1901, the Greenville Banking and Trust Company was created when it established an office on Evans Street. At the time of its inception, the bank was headed by president Larry L. Moore and had a capital stock of $10,000. During the first quarter of the 20th Century, the bank expanded its business, catering to local farmers and merchants, and its capital, which reached nearly $150,000 by 1927. Throughout its early years, the bank was known for its lavishly decorated buildings and its security-conscious staff. With the coming of the Great Depression, many banks in Eastern North Carolina were forced to close their doors; the Greenville Banking and Trust Company, because of its good business practices and enormous stock of available capital, was able to survive and even expand. As the bank expanded into nearby communities such as Bethel and Snow Hill, its officers decided that a name change was in order. In 1938, the bank was renamed the Guaranty Bank and Trust Company. During the 1940s and 50s, the company continued to expand its business and became the largest bank in Eastern North Carolina with nearly $30,000,000 in assets. In 1960, the same year that the company built a new branch on the corner of West Fifth and Washington Streets in Greenville, Wachovia Bank and Trust Company showed interest in merging with the local institution. The merger became a reality later that year and the Guaranty Bank and Trust Company ceased to be.