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| Additional information |
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| First State Bank |
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Mission statement:
The mission of First State Bank, Athens, Texas is to build mutually beneficial customer relationships by being the bank and employer of choice in the communities we serve. |
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Overview:
We have worked toward that goal since 1935 when first chartered as Farmers and Merchants State Bank. Our philosophy has been to provide exceptional customer service, to know our customers personally and treat them that way, and to provide career opportunities for our employees. From humble beginnings 75 years ago and through the help of many loyal customers and employees, FSB has grown to five locations and over $300 million in assets.
FSB is an innovator in new bank technology in our region, and we are proud of the opportunities this affords our customers and employees. Through leading edge technology, customers have virtually unlimited access to account information and receive expanded services. We are proud of these achievements, yet we have maintained the "hometown" community bank culture our customers have come to expect; namely personal attention to their financial needs.
If you are already a customer, let me say we appreciate your business. If you are looking for a friendly bank with employees who really enjoy helping people then give us a call. We'd love to get to know you. |
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History:
Farmers and Merchants State Bank was granted a state charter on April 4, 1935. The bank opened for business on May 1, 1935. Thomas Faulk, Sr., was the principal organizer of the bank, and served as president until his death in 1946. The original shareholders were Thomas Faulk, Sr., J. J. Faulk, E. B. Coleman, Ritter V. Price, William W. Spencer, James R. Hicks, Telula P. Faulk, E. N. Robinson, Dan Gentry, Thomas H. Johnston, Tom D. Evans, and Sallie W. Coleman. The bank was located on the northwest corner of the square in the building currently occupied by the Henderson County Tax Assessor-Collector.
In 1960, Hurbert Aaron purchased a controlling interest in the bank. In 1962 the Deen Hotel on the southeast corner of the square was purchased and remodeled, and in 1963 the new facility was opened. The main location of First State Bank is still located in the old Deen Hotel building. If you go into the old Mallory & Magee offices on the third floor of the building, you can still see some of the old hotel windows that were bricked-over during the remodeling.
During the early sixties the bank fell on hard times. In December of 1967, Jeff Austin, Sr., and Charlie Hooser purchased the bank and began the turnaround process that has resulted in one of the most profitable and financially sound financial institutions in Texas. In 1976 the bank was again remodeled.
Presidents:
1935-1946 Thomas P. Faulk, Sr.
1946-1960 T.D. Evans
1960-1964 Hubert Aaron
1964-1967 A.M. (Bub) Barnes
1967-1970 Charles H. Hooser
1970-1981 Pat H. Neill
1981-1999 W. M. Key
1999-present Jess A. Laird
Expansion & Acquisition History
The Bank of Mabank was acquired in December 1987. The acquisition increased total assets of the bank to $120 million. In 2002 a new bank building was completed in Mabank, located at the corner of State Highway 198 and U.S. Highway Business 175. The building is designed to resemble an old-fashioned train station, as the building is located at the site of the old Mabank Depot.
The Malakoff branch was opened de nova in November of 1989. The new bank building was completed in July 2009, located at 102 W. Royall Blvd. (Hwy 31).
In August 1994, the assets of the Bank of Athens were acquired. This purchase increased total assets of the bank by $ 25 million, to $194 million. The location became known as the "Tyler St. Branch."
In February 1997, branches of Bank of America in Athens, Mabank, and Malakoff were purchased. Total assets increased by $ 42 million, to $ 245 million. The Mabank building was sold to local attorneys when the new building was completed.
In June 2005, a de nova branch was opened in Gun Barrel City in a leased facility. A permanent home for our Gun Barrel operation was opened on Labor Day weekend in 2006. The new branch bank has been very well received by the community and is described as warm, inviting, and friendly. Bank management looks forward to a long and mutually successful relationship with the community of Gun Barrel City! |
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