About Us / History

History of Commonwealth National Bank

In 1976, a small group of organizers in Mobile, Alabama had the vision to established Commonwealth National Bank; making it the first minority-owned and operated national bank in the state. Becoming a nationally chartered bank included a more vigorous approval process from Federal Regulators – a challenge that was insurmountable by many, but not for our founders. They were dedicated to a process that included grassroots fundraising that ultimately led to success. To this day, Commonwealth is one of only three nationally chartered banks in the United States with our unique ownership structure. Now, that’s vision!

Commonwealth was founded to meet the needs of individuals and businesses that had previously been denied equal access to financial services. After opening in a temporary location, Commonwealth National Bank moved into a permanent building on St. Stephens Road in the heart of the Toulminville community on June 26, 1977. Today, the newly renovated St. Stephens Road location offers full-service banking and serves as the bank's headquarters.

A second office, providing full-service banking was opened in nearby Prichard, Alabama on June 16, 1995. This location also houses the bank's operations center while serving communities east of Mobile. Commonwealth further expanded by opening a third office in the Crichton community of Mobile on September 17, 1999.

In March 2012 a dedicated Corporate Location was established at 5 Dauphin Street in the historical Downtown Mobile District. The corporate office consolidated the executive leadership team into one centralized location, and the Operations Center was relocated to the newly renovated Main Office in the Toulminville Community. The Prichard Location was closed on December 24, 2011 but still remains an asset of the bank. In an ironic way, the needs that motivated our founders more than thirty years ago vividly resemble the needs within many of the communities throughout the State of Alabama. Individuals and business owners, without regard to race, gender, or any other factor, still desire a financial institution that are willing to give them the access and attention they deserve. And, by employing bankers who are empowered to make decisions, needs are identified and met with an acute dose of superior client service. To help fill this market void, Commonwealth is aggressively making its case to the communities we serve by showing them that we are serious about earning their business.

Our efforts to expand our reach beyond Mobile and Baldwin Counties became reality in April of 2009, as we opened a regional loan production office in Birmingham, Alabama to provide individuals and businesses with access to responsible credit products and services in central and northern Alabama. In the midst of a turbulent recession, we spread our wings again in May, 2009, as we opened our fourth location on St. Joseph Street in the Downtown Business District of Mobile.

From the beginning, it has been Commonwealth's goal to become the institution of choice for anyone valuing financial solutions and personal service. We think you deserve both. So, whether you need a safe place to deposit your hard-earned money or access to capital to grow you business, rest assured, we’ve got you covered.

Commonwealth National Bank — For Community. For Business. For You.

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