Question 1

What is First Texas National Bank?

Accepted Answer

First Texas National Bank is an independent, locally owned community bank headquartered in Floydada, Texas. With approximately $186 million in total assets and $165 million in deposits, the bank serves the families and businesses of Floyd County and surrounding communities in the Texas Panhandle.

As a national bank regulated by the FDIC and the Office of the Comptroller of the Currency (OCC), First Texas National Bank operates two offices, both located in Floyd County. The institution maintains a strong focus on agricultural lending and consumer banking services, reflecting the economic character of the rural West Texas region it serves.

Question 2

When was First Texas National Bank founded?

Accepted Answer

The bank traces its origins to 1890, when it was established as the James B. Posey Bank in Floydada. In 1900, the institution became the Floyd County Bank when L.T. Lester joined James B. Posey as a partner.

The bank received its federal charter in 1903 and was renamed First National Bank of Floydada. L.T. Lester served as the first president, and the original stockholders included prominent local figures such as Posey, Lester, Columbus Surginer, Will W. Nelson, R.C. Andrews, J.R. Burrus, and John N. Farris, who succeeded Lester as president in 1911.

The bank has occupied its location at 124 South Main Street in downtown Floydada since 1912. In August 2022, after 132 years of operation, the bank rebranded from First National Bank of Floydada to First Texas National Bank to reflect its expansion strategy into other areas of Texas while maintaining its local ownership and decision-making structure.

Question 3

Where is First Texas National Bank headquartered?

Accepted Answer

First Texas National Bank is headquartered in Floydada, Texas, a city in Floyd County located approximately 50 miles northeast of Lubbock in the High Plains region of the Texas Panhandle. The bank's main office is located at 124 South Main Street, a site it has occupied since 1912 and which is recognized with a Texas Historical Marker commemorating its significance to Floyd County's development.

Question 4

Where does First Texas National Bank operate?

Accepted Answer

First Texas National Bank operates exclusively in Floyd County, Texas, with two offices serving the local community. Floyd County is located in the High Plains region of the Texas Panhandle, approximately 60 miles northeast of Lubbock.

The bank's assessment area encompasses Floyd County's two middle-income census tracts. While the bank has expressed intentions to expand its franchise into other areas of Texas following its 2022 rebrand, its current operations remain focused on serving Floydada, Lockney, and the surrounding rural communities of Floyd County.

Question 5

What services does First Texas National Bank offer?

Accepted Answer

First Texas National Bank provides comprehensive banking services tailored to both personal and business customers. Personal banking services include checking accounts (including free checking options), savings accounts, interest-bearing accounts, certificates of deposit, personal loans, auto loans, secured loans, and residential mortgage services.

For business customers, the bank offers commercial checking and savings accounts, business loans for real estate and equipment purchases, lines of credit, and commercial lending solutions designed to support local business growth and expansion.

Digital banking services include online banking with account management capabilities, a mobile banking app available on iOS and Android platforms, mobile deposit capture for remote check deposits, bill pay services, e-statements, telephone banking, direct deposit, and debit card controls that allow customers to turn cards on and off for security purposes. Customers can also set up account alerts for balance notifications and transaction monitoring.

Question 6

What makes First Texas National Bank unique?

Accepted Answer

First Texas National Bank distinguishes itself through its unwavering commitment to local ownership and local decision-making. Unlike many community banks that have been acquired by regional or national holding companies, First Texas National Bank remains independent and locally owned, with every loan decision and service innovation made locally rather than in a distant corporate office.

The bank has served Floyd County for over 130 years, demonstrating remarkable institutional continuity. It has occupied the same downtown Floydada location since 1912 and received a Texas Historical Marker in 1990 recognizing its important role in the county's development.

First Texas National Bank maintains exceptional penetration to borrowers of various income levels and to farms of different sizes, reflecting its deep understanding of the local agricultural economy. According to OCC Community Reinvestment Act evaluations, the bank has consistently earned "Satisfactory" ratings for its community lending practices, with excellent penetration to individuals of different income levels and reasonable lending to agricultural operations of various sizes.

Question 7

What type of financial institution is First Texas National Bank?

Accepted Answer

First Texas National Bank is a National Bank, operating under a federal charter granted by the Office of the Comptroller of the Currency (OCC) and regulated by both the OCC and the Federal Deposit Insurance Corporation (FDIC). National banks are commercial banks chartered by the federal government rather than by individual states.

As a community bank, First Texas National Bank emphasizes relationship banking and local market knowledge. The institution is wholly owned by Floyd County Bancshares, Inc., a one-bank holding company also located in Floydada, which allows the bank to maintain its independence while focusing on serving the specific credit and financial needs of Floyd County and the surrounding Texas Panhandle region.

The bank's primary lending focus on agricultural loans and consumer loans reflects its role as a rural community bank serving an economy based primarily on agricultural production, particularly cotton cultivation and livestock operations.

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