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Lyons Bancorp, Inc. is the holding company for The Lyons National Bank (LNB), the company's banking subsidiary. The Bank was chartered in 1852 as the Lyons Bank of Palmyra. In 1865, the Bank's current name was adopted. The Bank has one subsidiary, Lyons Realty Associates Corp. (LRAC), a real estate investment trust. The holding company was formed on August 4, 1987 during a time when the banking industry was going through deregulation. It gave the Bank more flexibility to offer expanded financial services.
On December 31, 1987, the year in which it was formed, holding company assets totaled $44.2 million. There were 33 employees and the total salaries and benefits expense for that year was approximately $660,000. Other than the Main Office, the Bank had one branch office, which opened in October of 1986 at the corner of Routes 14 and 31 in Lyons.
Today, the Bank has ten o