Bank Reale—What is in a name?
In the 1690′s, Americans used English, Spanish and French currencies as an exchange for goods and services. The most common was the Spanish Eight Reale or Spanish Dollar.
Pieces of Eight were Eight Reale silver coins minted by the Spanish monarchy in the 17th and 18th centuries. These coins were widely used throughout the world (Spain owned 2/3 of the known world during this time).
These coins were the predecessor to the US Dollar. You have heard of a quarter being called two bits; one bit is one Reale, one “piece of eight.” These coins were legal currency and the most widely used form of currency in the US at the time of the American Revolution.
The back of this coin has two pillars with a ribbon wrapped around them. This was the predecessor of the dollar sign ($). You may remember that stock prices used to be quoted in the 1/8th’s; this is why a bit was the smallest unit of currency at the birth of our country.
The board selected “Bank Reale” as the name of the bank because it represented the foundation for financing the birth of a nation and businesses that would eventually need to access to capital in order to thrive.
In much the same way Bank Reale is Pasco’s only community bank… Our focus is building long term relationships with our business and agricultural clients in the Columbia Basin. Our goal is to provide them with long term stability for growth and a source of capital to meet the needs of their daily operations. Allowing them the opportunity to thrive and become successful; benefiting their families and our community.