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| Additional information |
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| First Bank & Trust Company |
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History:
FirstBank Lubbock Bancshares began with the vision of a small group of people. People who knew banks would become profitable through relationships, hard work and determination. “It is our goal to be the BEST community bank in the Lubbock area,” states Barry Orr, Chairman & CEO. “We knew we could help build a better Lubbock by serving the needs of customers our way.”
The first step involved forming an equipment finance company that could meet the equipment needs of businesses, as well as acquiring a company out of Fort Worth called RALL mortgage, which was moved to Lubbock and served as the launching pad of the entire operation.
The next step was to put together a group of investors who purchased a small bank in White Deer, Texas that was finalized on June 30th, 1996. That bank was relocated to Lubbock and the first lobby doors were opened on September 12th, 1996.
All that remained was to build the right team of people. “We could dream all day long about what type of company we wanted to be, but without good, smart, energetic people, you can’t even get out of the blocks,” Orr added. Greg Garland was the first key component to that team. He came on board and took charge of building what has become one of the largest community banks in Lubbock.
All the pieces of Outsource Capital Group, Inc. were falling in place. The original plan of combining an equipment finance division with a community bank and mortgage company was complete.
Those humble beginnings consisted of a portable building in the parking lot of what eventually would become the corporate headquarters for the next 13 years. With just 14 employees in all three divisions, and $10 million in assets, it was clear their work was cut out for them. In just three months time, assets had grown to $44 million and six new employees were hired.
That handful of employees knew they were on to something big. And it was only going to get bigger. By December of 2000, the company consisted of more than 50 employees and reached the milestone of $100 million in assets.
This time of expansion and growth saw many key people added to the rank and file. PrimeWest mortgage added Vada White, Ron Rogers and Phebe Ellis-Roach to a growing management team. Abel Castro, with a strong regulatory background became Chief Deposit Officer at FirstBank & Trust while Brent Burrows, CPA, took the role of Chief Financial Officer after spending many years as the external auditor for FirstBank & Trust.
In 2003, the second office, MidCity was completed at 22nd and Indiana. Drew Anderson served as the first president of MidCity and currently serves as Chief Lending Officer. Shay Wallace took his position and serves as the current president of the MidCity Location.
In 2004, the company changed its name from Outsource Capital Group, Inc., to FirstBank Lubbock Bancshares to help build a brand between the bank and the holding company.
By the time FirstBank & Trust reached our 10th anniversary, we had more than $330 million in assets and more than 125 employees.
The following year saw the acquisition of Wilson State Bank with branches in Wilson and Tahoka, Texas. “Adding those two branches really helped us enter into the agricultural market,” adds Abel Castro, Chief Deposit Officer. “We know how important small communities are to the health and growth of this area and the farming and ranching industries are a big part of that.”
2007 also saw the creation of FB&T Wealth Management, a wholly owned subsidiary led by a seasoned financial consultant, Mitch Watson. Now the bank could provide investment services to customers planning for retirement or financial growth.
Today, we have reached another milestone of $500 million in assets and our little family has grown to include more than 150 people. The FirstBank & Trust way of doing business continues to put an emphasis on the customer. With the opening of our new multi-million dollar corporate headquarters, FirstBank Centre at 98th and Slide, we continue to help make the Lubbock community the best place to live and work in the entire United States.
Yet with the astounding growth, we still remain committed to those core principles that have made FirstBank & Trust what it is today. “Philosophically, we really put an emphasis on the customer,” Orr commented. “What I called it when we started is that we are going to have across-a-lobby, hug-your-neck service. Your name is going to be used. People may not know you when you walk in, but every transaction we are going to use your name. Touch-your-heart customer service, that’s what made this bank what it, is. That’s the first thing people say when they walk in”
Greg Garland said it’s been amazing to watch the bank grow while firmly holding onto its driving principles. “The best thing about this is that it’s been a family deal,” he said. “You can’t underestimate the power of that. You know the people here work together for a common bond to grow this organization and make customers feel welcome the moment they walk in the door. Every employee is willing to do whatever it takes to insure our customers get the best possible service.
Those beliefs are summed up in our Core Values:
Family First
Customer Focused
Community Involved
These three things are what we focus on as a bank. The way we follow those core values ranges from making sure employees get the time they need to watch their kids play in baseball tournaments, to providing a cookout team for our customer’s grand openings and taking part in the United Way or American Diabetes Association. “It’s those core values,” Orr said, “that differentiates FB&T from a marketplace crowded with competition. The fact that we can run a successful business, make time for our families, and help this community thrive is proof that we are truly blessed to live and work in Lubbock, Texas!” |
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