WMS19 - Brevard Trust Center

Formerly Brevard Banking Company, Transylvania Trust Company, First Union National Bank, Wachovia Bank

History

The history of the bank building at 67 W. Main Street is defined by its architectural significance as a Neoclassical Revival structure and its role as the center of Brevard banking through numerous ownership changes, mergers, and expansions that altered its footprint. 

Founding and Initial Design (1898–1925) 

The institution that built the facility, the Brevard Banking Company (BBC), was founded in 1898 by Nathan McMinn. Before the construction of its purpose-built headquarters on West Main Street, the BBC operated out of the McMinn Building and later the Aethelwold Hotel until 1925. 

Construction for the permanent bank building was underway in 1924. It was designed by Hendersonville architect Erle Stillwell (also cited as H.G. Stillwell in some records), with R.P. Kilpatrick (sometimes noted with J.M. Kilpatrick) serving as the contractor. Construction for the new facility, located on the corner of Main and Caldwell streets, was estimated to cost $50,000.

The two-story Neoclassical Revival building was constructed of yellow Flemish-bond brick with limestone detailing. The front elevation features a monumental entry portico detailed in limestone, including half columns, a full entablature, and an arched window above the recessed front door. (Note: “half columns means that the columns are attached to the building; the entablature is made up of the horizontal pieces on top of the columns - part of which contain the carving or etching of the bank name) The front windows on either side of the door have decorative limestone garlands above them. Inside, the building was detailed with gray marble, bronze grills, and walnut woodwork. The structure included a large vault located in the basement, designed to hold about 400 individual safety deposit boxes. The rear of the building is more like a typical two-story brick building. Modern stucco office spaces were added to the rear in the 1970s. 

The basement of the building extends from the front of the main room’s present-day vault to the back of the building where the former exterior brick wall is visible in the bathroom alcove. 

The BBC opened for business in the new facility on Monday morning, March 16, 1925, noting that it was "one of the most handsome and commodious banking houses in the state". The formal opening occurred shortly after on April 8, 1925, and included soft music by the Brevard Band and refreshments served by the directors' wives and daughters. 

Depression, Reopening, and Expansion (1930–1970s) 

The Brevard Banking Company failed in 1929 and subsequently closed due to the Depression, with the operational closure date generally reported as December 15, 1930. 

Transylvania County acquired the property shortly after the bank's closure through deposit claims against the defunct BBC. Banking was re-established in the building in November 1931 by the Transylvania Trust Company. The county considered selling the building in May 1934 for use as the Brevard Post Office. However, the building was ultimately sold at a public auction on February 8, 1937, where F.D. Clement was the high bidder at $7,000. Clement assigned his bid to the Transylvania Trust Company, and the conveyance was officially recorded in March 1937. 

The Transylvania Trust Company operated there until approximately 1957, initiating a period of physical expansion: 

• 1957 Expansion: Transylvania Trust purchased the adjacent Tinsley Building (WMS18) next door and announced plans to raze it to install new drive-through lanes and a parking lot. Following the demolition, walk-up and drive-through windows were added to the bank building where the Tinsley Building had stood. 

• Mergers: The institution reorganized around 1957 as First National Bank & Trust and soon merged to become the First Union National Bank of North Carolina (FUNB) around 1958. 

• 1965 Expansion: FUNB purchased the Bagwell Building, which was located immediately behind the bank. The Bagwell Building, which had housed Mrs. M.W. Galloway’s millinery store in the late 1920s and apartments in the 1930s, was being razed in June 1965 to provide customer parking. The parking lot area behind the bank is sometimes referred to as "Mull's Arcade," named after BBC founder Wales Mull, who lived in a trailer behind the bank in his later years. 

FUNB subsequently conveyed the main bank parcel, along with the properties of the former Tinsley and Bagwell Buildings, to the National Investment Company on January 1, 1973 (recorded June 8, 1973). The conveyance of the main bank tract specifically included the use of an alley between the bank and the former Bagwell Building. During renovation work in 1980, the name of the bank's predecessor, Transylvania Trust Company, was uncovered above the columns on the front of the building. 

Modern Occupancy and Vacancy (1990–Present) 

FUNB continued to occupy the premises until around the late 1990s. The ownership chain continued with: 

• The transfer of the property to Carolina-Relco Limited Partnership on September 17, 1990. 

• The sale of the property from Carolina-Relco Limited Partnership to First States Investors 400C LLC in May 2003. 

• Around 2001, Wachovia Bank took over operations. Wachovia moved out in 2008, leaving the building empty for a period. Research did not discover a purchase of the building by Wachovia, and First States later sold it. The supposition is that Wachovia leased the building.

The property changed hands several more times: 

• In June 2012, First States Investors 4000C, LLC conveyed the property to CDP Aloe Properties, LLC. 

• In September 2017, CDP Aloe Properties, LLC granted a memorandum of option contract to BZA Works, Inc., which included a lease and an option to purchase exercisable by September 15, 2020. No evidence was found that the option was ever taken.

• The property was conveyed to 1600 West Morehead Street, LLC on November 30, 2018. 

The structure, which was in continuous use as a bank from its opening in 1925 until 2008, is also noted to have a plain two-story brick section, apparently original, to the rear, and a modern stucco addition, dating from the ca. 1970s. The drive-through area added to the east is covered by a gabled roof. The restored historic bank building is now locally known as the Trust Center. 

In 2025, the building was leased to a foundation that allows local organizations to host events in the facility. The space was originally rented to for-profit and non-profit organizations, but in January 2025 it was decided that they would only allow non-profits to host events on the main open floor an the mezzanine.  

The building's function as a bank led to the demolition of two adjacent properties to facilitate vehicle access and parking: 

1. The Tinsley Building (WMS18): Located to the left of the bank on Main Street. Transylvania Trust announced its purchase of the Tinsley Building in January 1957, with plans to raze it to install new drive-through lanes and a parking lot. Subsequently, walk-up and drive-through windows were added where the Tinsley Building had stood. 

2. The Bagwell Building: Located behind the bank. In addition to Bagwell’s grocery store, this building housed various occupants, including offices and apartments; other businesses known to have been in the building are:

   • Mrs. M.W. Galloway Hat Shop, which moved to the first floor from the former Trantham’s Haberdashery on Main Street in July 1929

   • Sledge’s Radio Repair Shop moved into the Hat Shop’s space when they vacated in May 1939.

   • Burrell Motor Company in 1944.  Burrell temporarily worked out of the building while their new home on Broadway (Broad street) was being constructed across from the high school.

   • McBride’s Variety Store. In May, 1945, this store moved into the space vacated by Burrell.

   • Bryant Machine Shop. This shop moved out of the Bagwell Building in May 1945, although it’s not known when they moved in.

   • Canteen Cafe.  After being on Main Street for several years, the Canteen moved into renovated spaces in the building soon after Bryant left in May 1945.

In June 1965, the Bagwell Building, immediately behind First Union National Bank, was being razed to provide a parking lot for the bank's customers. The parking lot area today is known as "Mull's Arcade," named after Wales Mull, a Brevard Banking Company founder who lived in a trailer behind the bank in his later years. 

Some older property descriptions reference the inclusion of an easement for the use of an alley located between the bank building and the Bagwell Building.