Edward Lee Spencer, Jr. was born in Loachapoka, Alabama, the son of Edward Lee Spencer and Florence Rowell Spencer.
He graduated from Alabama Polytechnic Institute (Auburn University) with a B.S. degree In 1952 and earned a regular commission in the U.S. Air Force. In addition, he received a Fulbright Scholarship and studied in England for a year. After his military service, he began working at Spencer Lumber Company and thus embarked on a career in business that included lumber, construction, banking, and ranching.
During his years in the lumber business, he expanded his interest in construction and established Lee Electrical Supply, Spencer Heating and Air Conditioning, Auburn Millwork, and real estate development.
In 1975, Spencer join AuburnBank’s board of directors and in 1980 was named the chairman of the board. Ten years later, he became the bank’s seventh president and chief executive officer. Sine 1975, the bank’s assets increased from $2.8 million to almost $780 million by mid-2011. The bank now has branches in Auburn, Opelika, Phenix City, Hurtsboro, and Notasulga along with mortgage loan offices in Valley, Phenix City, and Mountain Brook. Two small communities, Hurtsboro in 1999 and Notasulga in 2001, came to AuburnBank because their only financial institutions were closing, and the residents thought a bank was imperative for the town’s survival. AuburnBank responded to their requests and established branches in both communities. This exemplifies Spencer’s philosophy that “If you do what’s right for the community, it’s right for the bank.”
AuburnBank has been recognized for the past six years in “U.S. Banker” magazine as being among the nation’s top 200 Community Banks, one of the few banks in Alabama to receive this recognition for outstanding financial performance.
When not being a banker, Spencer can often be found in Nebraska at his Bow and Arrow Ranch in the Sand Hills, where he has a cow/calf operation.
Spencer was appointed to the board of the East Alabama Health Care Authority in June 1982 and was elected chairman in 1990 serving in that position until 2008. He also served on the Auburn Industrial Development Board and is a past president of the Auburn Chamber of Commerce. He was one of the founding members and a director of the Jule Collins Smith Museum of Fine Art in Auburn. He is responsible for financing the restoration of the Auburn University Chapel which is the oldest building in Auburn. He provides several scholarships to the Auburn University Harbert College of Business, where he was a Lowder Visiting Executive. He is a lifelong member of the First Presbyterian Church of Auburn and has served in many capacities. He played an instrumental role in the development of the Presbyterian Community Ministry. This organization was established as a way for the church to aid those who need help with their homes, paying bills for critical survives, and other emergency needs.
Spencer has long been an advocate for affordable housing for low-income families and has been a guiding force in the community for the construction and financing of housing for many citizens of Lee County.
Spencer and his wife, Ruth Priester Spencer, have three children: E.L. Spencer III, Steve Spencer, and Sandra Spencer.
