Pulaski Bank & Trust

Pulaski Bank & Trust of Little Rock is a year away from its golden anniversary. During its history, the lender has established itself as a leading performer among its peers.

From 1997-2001, Pulaski Bank was ranked 17th in the nation for return on equity among community banks with $300 million-$1 billion in assets. The bank ended 2004 with total assets of more than $417 million and net income of $4.7 million. It is touted as offering the lowest fixed-rate credit card in the nation.

The institution was launched with $100,000 in capital in March 1956 as Pulaski Heights Bank by 200 merchants in the Heights area of Little Rock. At the time, banking laws prohibited downtown Little Rock banks from opening locations in the Heights.

James East, a civil engineer by training and former Marine aviator, bought controlling interest of the bank in 1973 when the firm had total assets of $18 million. That same year, the bank established its first branch on Rodney Parham Road. The “Heights” portion of the name was dropped in 1978 when the bank added trust services.

Pulaski Bank now does business through 11 branches in the Little Rock area and one in Cordova, Tenn. A new Memphis-area headquarters in Germantown is set to open by year’s end. The company is hoping to use this as a jumping-off point to expand its community bank model in the Memphis market.

Over the years, the East family has said thanks but no thanks to the possibility of selling Pulaski Bank. In 1979, the company moved into its current 62,000-SF headquarters at 5800 R St.

As a group, the staff invests more than 2,000 hours of unpaid night and weekend time annually to volunteer in more than two dozen community projects.

“We’re certainly very proud of our employees,” said Hunter East, who has served as CEO since 2000.