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| Additional information |
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| Citizens National Bank |
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History:
The Citizens National Bank was established on July 6, 1900 by Mr. Hilliard Fort Smith, Sr. who also served as its first president. He interested T.G. Sampson of Cameron and J.T. Sneed of Georgetown in joining him and organized the Citizens National Bank. The Citizens National Bank's first financial statement, dated July 12, 1900 six days after it was granted a charter by the United States Government, showed it had $50,000 in capital stock, no surplus, and deposits of $4,591.19. Value of its banking house was $7,500. The Bank first occupied the old courthouse annex then located on the northeast corner of the courthouse grounds. After about nine months it moved to its own building, a brick structure on the Bank's present site.
J.T. Sneed lost interest in the Bank after only two years and sold his holding to Smith. Smith's son Oxsheer, became a partner after his graduation. By 1906, the Citizens National had become the largest bank in Cameron and Milam County and one of the largest in the region. H.F. Smith retired from the Bank in 1915, Oxsheer Smith succeeded him as President. The twenties meant prosperity for the region. The night of October 24, 1929 the depression years dramatically began. Although the Milam County area was especially hit hard, Citizens National never had a run made on it. During the depression years the Bank absorbed two failed financial institutions. The two decades following the depression, the Bank, and the communities it served, continued to grow at a steady rate. Citizens National Bank extensively remodeled its building in 1950. Eleven years later, in 1961, the Citizens National Bank expanded is building and added a drive-in bank to meet the needs of a growing community. It was also the first bank in the area to establish a trust department and, in 1969, the Bank issued Bank AmeriCard credit cards in response to the demand for a more convenient form of payment. The years from the seventies to the present have seen continued innovations in banking with the opening of a new motor bank in 1979 and the introduction of ATM cards, debit cards and the Century checking account. In 1988, the Citizens National Bank of Cameron purchased the Community Bank and Trust of Rockdale and it became a branch of Citizens National Bank of Milam County. The year 1990 marked the beginning of a Citizens National Bank scholarship fund. During the following years the Bank has awarded $40,000 in scholarship aid to deserving students. In 1994, the Pacific Southwest Cameron Branch was purchased and consolidated into the Bank. In 1999 the Trust Department reached the fifty million dollar mark of assets under management. In August of 2002 the Bank bought branches of International Bank of Commerce in Giddings, Taylor, and Rockdale. This transaction expanded the bank's services to a larger community and giving customers more options and access to their accounts. To the Citizens National Bank's dedicated shareholders, directors, officers and staff, the future looks just as promising as it did in 1900. When an institution strives first to serve the financial needs of its customers, growth will be the end result. To that end, the directors, officers and staff stand firmly in the present to serve the needs and concerns of the region through sound, yet innovative, banking practices. |
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Formerly known as:
Citizens National Bank Of Milam County |
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