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| American Bank of Commerce |
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History:
The American Bank of Commerce is thriving in its 47th year of service to the people of West and Central Texas and along Colorado’s Front Range into Colorado Springs and Pueblo. With over $686 million in assets, ABC Bank continues to grow and offer a full range of innovative products and services with the same friendly atmosphere and community banking service that one would expect from a bank that has had the same owner and Chairman since its inception.
The American Bank of Commerce first opened for business as Wolfforth State Bank on September 11, 1962 with James S. Moore as Chairman of the Board. By the end of business on December 31, 1962, assets had reached $961,000.
In January 1963, Wolfforth State Bank moved from temporary facilities to its first home in downtown Wolfforth, Texas. Wolfforth State Bank changed its name to American Bank of Commerce at Wolfforth on June 1, 1972. By 1976, the bank had outgrown its first home and plans were drawn for a new, larger Wolfforth banking center at U.S. Highway 62-82 and Loop 193. The building was completed and occupied in 1977. By the end of 1980 the bank’s assets had increased to more than $28 million. In 1985, construction began to enlarge the Wolfforth Banking Center by an additional 9000 square feet bringing it to its current size of 22,489 square feet …and it featured Wolfforth’s first elevator. By the end of business in 1985, total assets had reached almost $54 million.
In September 1989, the American Bank of Commerce opened its first branch in Lubbock, Texas at 3721 50th Street. ABC Bank concluded 1990 with $103 million in total assets. The second Lubbock branch banking center located at 8112 Indiana Avenue opened for business in October 1993.
In the fall of 1995, the bank began plans to open a central Texas branch facility in Austin, Texas in early 1996. At the end of business in 1995 total assets had reached $190 million and cash deposits in excess of $174 million.
The American Bank of Commerce Austin-Congress Banking Center located at 522 Congress Avenue opened for business in January, 1996. ABC Bank opened its second banking center in Austin, Texas located at 2243 West Braker Lane in October, 1998. In December 1998, an Operations Center was opened in Lubbock and in 1999, the bank expanded into the global marketplace with a website at www.theabcbank.com. ABC Bank ended the year 2000 with total assets in excess of $341 million.
In September 2001, the bank opened its third branch banking center in Austin, Texas at 10920 Lakeline Mall Drive and in April 2003, ABC Bank opened its 4th Austin Banking Center to serve Travis and Williamson County customers at 2535 West Anderson Lane at Northcross Mall.
In August 2003, the bank reached $400 million is assets and in November 2003, established a presence in the Dallas Metroplex marketplace with a branch banking center located at 4901 West Park Boulevard in Plano, Texas.
American Bank of Commerce continued in 2004 with a focus on growth. Expansion into Colorado became a reality with the opening of a branch bank at 434 South Tejon in downtown Colorado Springs in March 2004. A second Colorado banking center located at 225 North Main Street in Pueblo, Colorado opened for business in July 2004.
In August 2005, two new branch banking centers were opened; Austin’s 5th branch located at 2201 West Ben White Boulevard at Pack Saddle Pass in south Austin, and a 3rd full-service branch in Lubbock at 3805 19th Street. In August 2005, as American Bank of Commerce approached its 43rd anniversary date of September 11, the bank achieved the milestone of reaching ½ billion dollars in asset size - $500,166,060. In November 2005, the bank expanded operations of the Plano banking center with the opening of a remote lending office in Mansfield, Texas. ABC Bank ended 2005 with total assets of $549 million and deposits totaling over $471 million.
In March 2006, ground was broken at 610 West 5th Street for a new downtown Austin facility to replace the banks 6th & Congress location and construction began on the 25,000 square foot multi-story professional building to feature a full-service bank, ATM/motor bank facility and additional office space available for lease. May 2006 brought the opening of a 6th banking center in north Austin, Texas located at 8668 Spicewood Springs Road.
In January 2007, ABC Bank’s new Austin headquarters at 610 W. 5th Street opened for business. American Bank of Commerce ended 2007 with total assets of over $649 million and near $565 million in deposits.
On July 2, 2008, ABC’s new banking center at 1748 East Broad Street in Mansfield, Texas, south of Arlington, opened for business. Located in a growing neighborhood on the southwest side of Mansfield near the new hospital, this is ABC’s second branch in the Dallas-Ft. Worth Metroplex area.
American Bank of Commerce opened its 16th banking center (includes the Operations Center) located at 4656 North Loop 289 (North Loop 289 at Utica Avenue) in Lubbock, Texas on November 3, 2008. Lubbock’s unique and eye-catching North Loop Branch is situated in northwest Lubbock near a growing medical center complex, a new residential area and brand new elementary school.
American Bank of Commerce ended 2009 with $712,845,000 in assets and $580,292,000 in deposits. |
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