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First National Bank in Alamogordo

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First National Bank in Alamogordo

History:

The First National Bank in Alamogordo was chartered in June, 1956. The original Board of Directors were M. R. Prestridge, Mose Cauthen, H. H. Stevenson, C. F. Loggains, P. B. Hendricks and George Abbott (Chairman of the board until 1986).

The original capital stock of 20,000 shares was issued to 79 local residents as shareholders. The bank began its operations in a small remodeled doctor's office at the present location. After several remodeling and enlargements over the years, the present building was completely remodeled in 1986. The branches include the Uptown Branch, First Street Branch, Cloudcroft Branch, the North Branch and the Tularosa Branch.

In 1982 a holding company, First Alamogordo Bancorp, Inc., was formed by the Board of Directors and the majority of the outstanding shares of First National Bank in Alamogordo were retired and reissued to the shareholders as holding company stock and debentures. In 1990 the Board of Directors purchased the majority of the holding company stock from the minority shareholders and now hold the majority of the shares of the holding company and First National Bank in Alamogordo.

The present board of Directors are: S. W. Atkins, Chairman of the Board, Paul Brusuelas, Kenneth Eaton, Kenneth Garland, James Lynch, Mark Eaton, Bert Atkins, and Pete Cook, President.

First National Bank has grown from a 3.6 million dollar bank in 1956 to a 225 million dollar bank in 2009. As a full service community bank we serve families and businesses throughout Otero County, New Mexico, Holloman Air Force Base and beyond. We have been consistently rated as one of the safest, most secure and best performing banks in the United States by both Veribanc, Inc. and Bauer Financial Reports, Inc.

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