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| Additional information |
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| First United Bank |
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Mission statement:
Our mission is to be the premier banking and financial services provider in the communities we serve.
We are dedicated to promoting the Spirit of West Texas and devoted to cultivating genuine personal relationships by partnering with our customers to fulfill their unique financial needs.
We will offer innovative products and services delivered by responsive, friendly and knowledgeable professionals who will strive to create the ultimate customer experience. |
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History:
The year was 1907 and the landscape of the West Texas Plains was beginning to take shape. Towns were forming, farms and ranches were being cultivated and businesses were starting up across the region. Mr. C.E. McLean and a group of men with a vision for the future decided to form a new bank to service the people of the area. Starting with only $12,000 in capital, they opened the doors to The First State Bank of Dimmitt - the predecessor to First United Bank.
1928 Bedford and Broadway Streets
The original building, located at the corner of South Broadway and Jones Street, quickly became the financial center of the area. Still true today, Agriculture was the bank’s primary focus and the bank played a pivotal role in helping the farmers and ranchers in the area get started. First State Bank of Dimmitt was one of the few banks in the southwest that survived the Great Depression without new capital or reorganization. Over the next several decades, the bank thrived and grew stronger on the simple philosophy of listening to the financial needs of their customers and serving them with honesty and integrity.
E.S. Noble and Little Safe
After having operated the bank for 75 years, the McLean family sold the bank to B.E. Lloyd of Muleshoe, Texas in 1982. At this same time, computers were beginning to change the face of the American banking industry, streamlining internal operations. In 1983, the bank purchased its first computer and in 1985, the first Automated Teller Machine (ATM) was installed. Also in August of that year, Ray M. Bain joined First State Bank and later became President of the Bank. In January 1987, Mr. Bain and a small group of investors purchased the bank from Mr. Lloyd and the next phase in the bank’s history began.
Original First United Bank Board 1987
In May 1996, directors Ray M. Bain, Stanley Schaeffer, Shirley L. Garrison and Joe Josselet from the original 1987 investment group along with Mr. V.H. Harman, Jr. of Tulia, Texas, Johnny Trotter of Hereford, Texas, R. Mark Bain of Lubbock, Texas and Michael L. Bain and David Schaeffer of Dimmitt, Texas purchased the interests of all other shareholders.
1977 Broadway and Etter Streets Bedford and 3rd Streets
Under the direction and leadership of Ray M. Bain, the Bank’s Board of Directors were determined to build on the bank's strong foundation and expand to other areas throughout West Texas, from the Panhandle to the South Plains of Texas. In January of 1989, First State Bank acquired Citizen's State Bank of Earth from the FDIC in a failed bank transaction and two years later in January 1991, the First State Bank of Seagraves. Expansion continued in December 1994 with the acquisition of Shadow Hills National Bank in Lubbock. In October 1994, prior to the move into the Lubbock banking market, the bank changed its name from The First State Bank of Dimmitt to First United Bank to reflect the uniting of all banking locations under a common name and to build on the bank’s growth and emphasize its commitment to West Texas.
In April 1996, First United Bank added its second Lubbock location with the establishment of its Southwest Lubbock Banking Center. In July 2000, FUB acquired The First National Bank of Sudan, which added banking centers in Sudan and Littlefield, Texas. The Bank expanded again in December 2000 by establishing a new de novo banking center in Seminole, Texas. In February 2004, FUB expanded northward into the Texas Panhandle by opening its Center City Banking Center in downtown Amarillo, Texas. The Bank followed with the opening of a second Amarillo location in May 2004 by establishing the Colonies Banking Center in Southwest Amarillo. Amarillo’s third location, Tradewind Banking Center opened in November 2005. Then, in December 2005, the Bank established yet another de novo banking center in Canyon, Texas. In January 2007, First United Bank acquired The First National Bank of Lamesa, Lamesa Texas.
Today, First United Bank has grown to a $923 Million organization with 13 banking center offices in 10 West Texas communities. The Bank’s parent company, Plains Bancorp, Inc., is owned by 25 shareholders who are all West Texans and actively involved in the management of the bank.
From a $12,000 stake in the small West Texas town of Dimmitt and a simple philosophy to treat people right and to do the right thing, First United Bank has become one of the strongest and fastest growing institutions in the state of Texas. Ray M. Bain, President & CEO states “We are very proud of our heritage. We have been successful due to the hard work and loyalty of our customers and by hiring great people who are truly committed to our organization and to the communities in which we serve”. “We look forward to assisting our customers in a rapidly changing financial services environment and are committed to do our part to help our communities and our region, grow and prosper”.
Roots run deep in West Texas for First United Bank. In fact all our roots are right here. Since it’s beginning in March 1907 as The First State Bank of Dimmitt to First United Bank today, the business model has always been focused on West Texas communities, the people who live there and their distinct financial needs. Our Board of Directors, banking officers and employees are a who’s who of community and business leaders that live, work and volunteer their talents to the communities they live in across West Texas. They understand the importance of agriculture, energy and small business to our economy, but more importantly, they understand that people come first.
As we begin a second century of service, we’re thankful for the trust our friends and customers have placed in us… we will continue to put down our roots right here in West Texas. |
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