LOL 498 will be unfurling its third banner since its inception in 1829 at an event held in Derriaghy Orange Hall this afternoon.

Grand Master Robert Saulters will unfurl the new banner at the event, which will also be attended by Junior Minister Jeffrey Donaldson.

The banner, which was painted by artist Billy McGowan, depicts King William on one side, and on the other a tribute to the members of the Lodge who fought, and those who died, in the Somme. Twenty-four of its members volunteered to go to the French battle fields during the First World War, three never returned. The banner pays tribute to the men – Second Lieutenant William Graham, 26, from the Donegall Road, Irish Guard William Wilson, 23, from Andersonstown, and North Irish Horse William Hillocks, 22, who died just one day before the war ended.

The lodge has some interesting history, although originally based on Divis Street, it is now closer to Lisburn than the nationalist west Belfast area it was formed in, having been gradually "pushed" out over the years.

It can also lay claim to having successfully sued the Irish News in 1886 during the first Home Rule Bill riots in Belfast, when the paper printed an article blaming the Lodge for smashing windows in a Methodist Church on the Falls Road. The Lodge took the paper to court for slander and won £200. It used the money to build a new hall at the top of Dunmurry Lane. The Lodge met there until the political situation, and a few failed arson attempts on the hall, made it too dangerous to stay.

The largest membership ever recorded was in 1922 when it had 68 members, it fell to its lowest of around 15 members during the Troubles, and has now built that back up to 22, with some members living in England and flying home for the Twelfth celebrations.

The unfurling will take place on Saturday afternoon in the Derriaghy Hall.