Posted 2:39 am Sunday, February 12, 2012
First State Bank Celebrates 100 Years Of Business
By KELLY GOOCH
Staff Writer
OVERTON — In the past century, First State Bank has adapted to new technology and regulations to keep up with changing times, but it has never drifted away from serving the community, Bank President Todd Meadows said.
“It is a community bank. It's all about the community. It's here to serve the community. It's here to help the community achieve its goals, whether it's some individual wanting to open a small business or someone buying a car. It serves the financial needs of a community,” he said.
The bank, 115 E. Henderson St., will celebrate 100 years of business on Wednesday, and preparations are already under way.
Rows of memorabilia sit near the front entrance — including an old teller cash book, a 1960s bank lobby photograph, a custom record book from 1915 and a 1950 counter check. Commemorative calendars also are available for patrons.
Staff Writer
OVERTON — In the past century, First State Bank has adapted to new technology and regulations to keep up with changing times, but it has never drifted away from serving the community, Bank President Todd Meadows said.
“It is a community bank. It's all about the community. It's here to serve the community. It's here to help the community achieve its goals, whether it's some individual wanting to open a small business or someone buying a car. It serves the financial needs of a community,” he said.
The bank, 115 E. Henderson St., will celebrate 100 years of business on Wednesday, and preparations are already under way.
Rows of memorabilia sit near the front entrance — including an old teller cash book, a 1960s bank lobby photograph, a custom record book from 1915 and a 1950 counter check. Commemorative calendars also are available for patrons.
Meadows said the celebration is exciting, and it's a milestone that doesn't happen often anymore.
That the bank reached it “shows something about the strength and stability of the bank and the family that is associated with it,” said Meadows, who has been with the institution for 11 years.
R.A. Motley, grandfather of First State Bank Board Chairman Rogers Pope Sr., founded First State Bank on Feb. 15, 1912, the same day his daughter was born.
Meadows said he believes Motley was involved in the timber industry, and one of the first wells in the immediate Overton facility was his well, which is still displayed on bank checks. Motley also was at one time the publisher of the local newspaper.
“He had his hands in a lot of things, and I guess he just saw a need for a community bank in Overton,” Meadows said.
That the bank reached it “shows something about the strength and stability of the bank and the family that is associated with it,” said Meadows, who has been with the institution for 11 years.
R.A. Motley, grandfather of First State Bank Board Chairman Rogers Pope Sr., founded First State Bank on Feb. 15, 1912, the same day his daughter was born.
Meadows said he believes Motley was involved in the timber industry, and one of the first wells in the immediate Overton facility was his well, which is still displayed on bank checks. Motley also was at one time the publisher of the local newspaper.
“He had his hands in a lot of things, and I guess he just saw a need for a community bank in Overton,” Meadows said.
First State bank was originally on Commerce Street, about where AJ's Place currently sits, but it moved to its East Henderson Street location in 1946. At the time, the new facility was the first fully air-conditioned building in Overton, according to the commemorative calendar.
During the 1930s oil boom, Pope said he remembers his mother telling him that many people came in the bank, and they were afraid they might be robbed. So a policeman was hired to sit on a high stool with a shotgun to ensure that people didn't rob the bank, he said.
Overton also was bustling with new businesses, hotels, and restaurants with the discovery of oil in East Texas, according to the anniversary calendar. The estimated population in the mid-1930s was more than 5,000.
Overton continued to thrive during the 1940s and 1950s, once boasting six automobile dealerships, three movie theaters, four drug stores, seven grocery stores and several clothing establishments and restaurants, the calendar states. Freight and passenger trains also made regular stops in the town. The bank celebrated its 50th anniversary in 1962 and its 75th anniversary in 1987, the same year it established a branch in New London.
During the 1930s oil boom, Pope said he remembers his mother telling him that many people came in the bank, and they were afraid they might be robbed. So a policeman was hired to sit on a high stool with a shotgun to ensure that people didn't rob the bank, he said.
Overton also was bustling with new businesses, hotels, and restaurants with the discovery of oil in East Texas, according to the anniversary calendar. The estimated population in the mid-1930s was more than 5,000.
Overton continued to thrive during the 1940s and 1950s, once boasting six automobile dealerships, three movie theaters, four drug stores, seven grocery stores and several clothing establishments and restaurants, the calendar states. Freight and passenger trains also made regular stops in the town. The bank celebrated its 50th anniversary in 1962 and its 75th anniversary in 1987, the same year it established a branch in New London.
According to the commemorative calendar, First State Bank experienced “rapid growth” in those 25 years, with a more than 500 percent increase in total assets.
The institution now has more than 3,000 individual accounts, not including businesses.
“We have a lot of customers who've been here for a long time,” Meadows said, adding that the bank has gotten a good response from its commemorative calendars.
It's “a bank that serves its community. It offers a place for them to deposit their money and a place to come when there are financial needs. It's been here for 100 years, and I hope it's here for at least another 100 more It's a good strong, stable financial institution.”
Those are some of the reasons patrons such as Ann and Isidor Saslav choose to bank with the institution.
Mrs. Saslav's father started using the bank in 1933, and the couple knows a lot of people involved with the bank, Saslav said. They enjoy the personal connections.
Additionally, the couple is good friends with Pope, who is also affiliated with Texas Bank and Trust in Longview, the same place where Saslav serves as concertmaster for the Longview Symphony.
Pope said he hopes many people like the Saslavs turnout on Wednesday at an open house anniversary event.
“We had a picture in the calendar when we moved to the new building, and there was a big crowd, so we're hoping for a good turnout this time as well,” he said. “I was there for the 50th anniversary, and we also had a good turnout then.”
Meadows said he believes First State Bank was able to sustain in large part because of Motley's family, their ties to the area and their love for Overton.
Pope said the bank's stability is shown in that more than 9,000 banks failed during the Great Depression, another 2,500 failed in the late 1980s and early 1990s, and more than 400 have failed in the most recent recession. He attributed the stability to good management and strong capital, among other things. He also noted that the bank BauerFinancial Inc., a premier rating agency, has awarded the bank with its highest five-star “superior” rating for more than 20 years.
First State Bank is “very strong. It's been there for a long time and hopefully we'll get to have another 50th or 100th anniversary down the line,” Pope said.
The institution now has more than 3,000 individual accounts, not including businesses.
“We have a lot of customers who've been here for a long time,” Meadows said, adding that the bank has gotten a good response from its commemorative calendars.
It's “a bank that serves its community. It offers a place for them to deposit their money and a place to come when there are financial needs. It's been here for 100 years, and I hope it's here for at least another 100 more It's a good strong, stable financial institution.”
Those are some of the reasons patrons such as Ann and Isidor Saslav choose to bank with the institution.
Mrs. Saslav's father started using the bank in 1933, and the couple knows a lot of people involved with the bank, Saslav said. They enjoy the personal connections.
Additionally, the couple is good friends with Pope, who is also affiliated with Texas Bank and Trust in Longview, the same place where Saslav serves as concertmaster for the Longview Symphony.
Pope said he hopes many people like the Saslavs turnout on Wednesday at an open house anniversary event.
“We had a picture in the calendar when we moved to the new building, and there was a big crowd, so we're hoping for a good turnout this time as well,” he said. “I was there for the 50th anniversary, and we also had a good turnout then.”
Meadows said he believes First State Bank was able to sustain in large part because of Motley's family, their ties to the area and their love for Overton.
Pope said the bank's stability is shown in that more than 9,000 banks failed during the Great Depression, another 2,500 failed in the late 1980s and early 1990s, and more than 400 have failed in the most recent recession. He attributed the stability to good management and strong capital, among other things. He also noted that the bank BauerFinancial Inc., a premier rating agency, has awarded the bank with its highest five-star “superior” rating for more than 20 years.
First State Bank is “very strong. It's been there for a long time and hopefully we'll get to have another 50th or 100th anniversary down the line,” Pope said.
