ON CHRISTMAS Eve in 1960, Charles Gleghorn stepped behind the teller’s counter at Lincoln County Bank for the first time. He slid open a heavy wooden cash drawer, its metal dividers clinking against neatly stacked bills. He calculated transactions on the mechanical adding machine beside him with a series of sharp clacks. He recorded each transaction by hand. Gleghorn noted customers’ savings in an ink-stamped passbook. Banking was slow and deliberate — built on face-to-face trust.
By 2002, Gleghorn had launched and led the Bank of Lincoln County (BOLC). Today, his daughter, Gay Dempsey, serves as BOLC’s chief executive officer. Tellers barely touch cash before it moves through the system. Transactions happen in seconds, screens replacing ink-stamped ledgers. Customers tap phones instead of handing over paper checks. But despite all that’s changed, one thing remains the same: the bank’s mission to make a difference in the lives of its customers, its staff, and the community it serves.
That mission extends beyond banking — it’s about strengthening the local economy.
“Giving back is truly part of the DNA of the Bank of Lincoln County,” Dempsey said. “And part of that is supporting our local small businesses.”
One of the bank’s most visible efforts is “cash mobs,” a targeted initiative that sends a surge of shoppers to a selected small business.
“The goal of a cash mob is to highlight a local small business and provide an economic stimulus for that business,” Dempsey explained. “The bank gives each employee a specific amount of money, and each person shops at that business on a specific day. Each person typically spends more money than they’re given, so it provides a significant economic impact on the business.”
The initiative also draws in community members, ensuring businesses gain new customers and an immediate boost in sales.
BOLC also celebrates Small Business Month, spotlighting local entrepreneurs and fostering community engagement. A more playful approach comes through the “Where’s Iggy?” campaign, named after the bank’s beloved mascot. The bank posts videos of Iggy “shopping” at different local stores, encouraging the community to guess his location.
“The first person to guess where Iggy is shopping wins a gift from that small business,” Dempsey said.
Beyond promotional events, the bank itself leads by example.
“I’m not sure that people ever stop to think that the Bank of Lincoln County is also a local small business,” Dempsey said. “Our shareholders are from Fayetteville and Lincoln County. So when our bank and our community succeed, we all win.”
The bank invests in local restaurants and caterers for events, purchases from nearby vendors, and helps entrepreneurs secure funding to launch or expand their businesses.
Every dollar spent at a Lincoln County business strengthens the local economy. Every deposit at BOLC stays in the community, funding new homes, farms, and businesses.
“When you deposit your money at the Bank of Lincoln County, that money stays here and is invested back into Lincoln County,” Dempsey stated. “It stays here and makes a difference here.”
Rooted in trust, the Bank of Lincoln County continues to strengthen the community, one local business at a time. GN
For more information, follow Bank of Lincoln County on Facebook or visit bolconline.com.
