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| Nixon State Bank |
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Mission statement:
As an independent community bank and the seventh oldest state chartered institution in the State of Texas, we commit ourselves to our community, customers, fellow employees, regulators, suppliers and all others who come in contact with Nixon State Bank, with a promise to provide friendly, professional and exceptional service and to always conduct ourselves in accordance with the highest standard of ethics. It is our desire to:
- be viewed by the public as a valuable, responsible and vital part of the community;
- constantly be on the leading edge of providing products and services which best meet the needs of our customers;
- compete vigorously in our market without compromising any of the values that have made us who we are;
- treat each other exactly as we ourselves wish to be treated;
- understand that if we hold true to each of these values that our profits and other benefits of our business will come to us in fair measure. |
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History:
Perhaps the group of men who met in Gonzales County, Texas in 1906 could not foresee their nation enduring two world wars, a great depression, at least three major banking crises and a direct attack on the country’s financial capital by terrorists, but the men did foresee the need for a bank in the newly incorporated town of Nixon. That foresight has served Nixon’s citizens well for the last one hundred years. Under the leadership of town founder and attorney Robert F. Nixon and banker C.S. Penfield, a group of ten shareholders raised twenty-five thousand dollars in capital and were granted a charter by Texas Secretary of State O.K. Shannon on August 25, 1906. By the end of 1906 the new town, with the assistance of its new bank, had sold over 200 lots and boasted seventeen businesses, a railroad depot, a cotton platform and a school. The bank grew so rapidly in its first year of operation that it quickly abandoned a temporary wood building for the two-story brick structure still occupied by the bank today.
In 1911 the bank acquired the Gonzales County State Bank. D.N. Campbell became the bank manager following the merger and eventually became the bank’s majority shareholder. Mr. Campbell remained the largest shareholder until his death in 1950. During his tenure the bank survived the Great Depression and accompanying banking crisis. The other bank in the community, Nixon National Bank, did not fare as well and was acquired by Nixon State Bank on March 6, 1933 during the mandatory bank holiday declared by President Franklin D. Roosevelt.
Collin Campbell, the nephew of D.N. Campbell, became the manager and major stockholder of the bank following his uncle’s death. In the early 1960’s Collin Campbell sold the bank to a group of investors from Corpus Christi American Dividend Credit. Various men managed the bank during this period, including Clarence Van Lowe, John Dempsey, Johnny Shuler, Jr., Bob Chapman and Abner Moore. After a defaulted bank stock loan in 1964, Continental Bank of Houston, under Mike Wells, obtained control of Nixon State Bank. In 1965 Continental sold the bank to C.J. Kehoe of Houston.
In 1967 C.J. Kehoe hired Ashley H. Turberville from the Angleton Bank of Commerce in Angleton, Texas to manage Nixon State Bank. The bank had a little more than $2.1 million in assets at that time. Mr. Turberville assumed the presidency of the bank in the early 1970’s and acquired a controlling interest in the bank from Frank Head of Houston in 1984. In the 1980’s Nixon’s economy was still primarily agriculture-based with cattle ranching and poultry farming as the primary catalysts, though an oil refinery was built west of town in the early 80’s that was a major employer until its closure in 1991. After weathering the storm of the banking crisis of the late 1980’s and early 90’s, Mr. Turberville made the decision to open the bank’s first branches. The bank opened de novo branches in La Vernia in 1995 and China Grove in 1998. The addition of the branches, under the leadership of branch managers Wanda Von Minden in La Vernia and Romanita Jachade in China Grove, fueled a rapid growth period for the bank as assets grew from $20 million in 1995 to the bank’s current size of just under $70 million.
As the bank enters its second century of service to its communities, Mr. Turberville continues to serve as the bank’s Chairman. Brad Akin came on as the bank’s President in 2003 and assumed the CEO duties in 2007. The board of directors is comprised of outside directors John L. Cook, Marvin Ashley and Bruce Patteson, bank officers President and CEO Brad S. Akin and Executive Vice-President Richard White and advisory director Dr. Chris J. Ortman. |
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