Question 1

What is First State Bank (Shallowater)?

Accepted Answer

First State Bank (Shallowater) is an independent, locally-owned community bank serving the Lubbock area and surrounding regions of West Texas. Headquartered in Shallowater, the bank has maintained its independence since its founding in 1960, providing personalized banking services to individuals, families, and businesses throughout the area.

With approximately $146 million in assets and five branch locations across Texas, First State Bank combines small-town values with comprehensive financial services. The bank operates as a subsidiary of South Texas Bancshares, Inc., while maintaining its local identity and community focus.

Question 2

When was First State Bank (Shallowater) founded?

Accepted Answer

First State Bank was founded in October 1960 with the charter of its original bank, initially known as First State Bank of Shallowater. The bank began operations in downtown Shallowater, in a building that is now known as the Shallowater Woodward Academy.

In 1975, the bank relocated to its current building at One Commerce Park in Shallowater, coinciding with a name change to First State Bank of Shallowater. In 1982, the institution simplified its name to First State Bank. Throughout its more than 60-year history, the bank has remained independently owned and locally operated.

In 2014, First State Bank expanded through acquisition, purchasing The First National Bank of Amherst on August 1, 2014, which extended the bank's presence into Amherst, Texas.

Question 3

Where is First State Bank (Shallowater) headquartered?

Accepted Answer

First State Bank is headquartered at 1 Commerce Park in Shallowater, Texas. Shallowater is a small city located in Lubbock County in the northwestern part of Texas, just northwest of the city of Lubbock.

Question 4

Where does First State Bank (Shallowater) operate?

Accepted Answer

First State Bank operates five full-service branch locations throughout Texas, with offices in the Lubbock metropolitan area and surrounding communities. The bank's branches serve Shallowater, Amherst, Dallas, and other locations in the region.

The bank's presence in the Lubbock CBSA (Core Based Statistical Area) positions it to serve one of West Texas's largest economic centers while maintaining strong connections to smaller rural communities like Shallowater and Amherst. Through digital banking channels, the bank extends its services to customers across its entire market area.

Question 5

What services does First State Bank (Shallowater) offer?

Accepted Answer

First State Bank offers comprehensive banking services designed to meet the needs of both personal and business customers:

Personal Banking: Checking and savings accounts, money market accounts, certificates of deposit, personal loans, auto loans, home mortgages, home equity loans, and consumer credit services.

Business Banking: Business checking and savings accounts, commercial real estate loans, commercial and industrial loans, small business loans, construction and development loans, equipment financing, and business lines of credit.

Credit Services: VISA Platinum credit cards with unlimited rewards programs, consumer auto loans, and various lending products.

Digital Banking: Online banking platforms, mobile banking applications, electronic bill pay, mobile check deposit, account management tools, and online check reordering services.

Specialized Lending: The bank maintains a diverse loan portfolio including 1-4 family residential loans, commercial real estate, small business lending, and agricultural loans, demonstrating its ability to serve various customer segments in West Texas.

Question 6

What makes First State Bank (Shallowater) unique?

Accepted Answer

First State Bank (Shallowater) distinguishes itself through several key attributes:

Local Independence: Unlike many banks that have been acquired by larger regional or national institutions, First State Bank has maintained its independence since 1960, keeping decision-making local and ensuring personalized service.

Community Commitment: The bank's leadership, including longtime directors and officers, maintains deep roots in the communities it serves, understanding local economic conditions and customer needs.

Experienced Leadership: The bank's management team includes President and CEO Mark Taylor, along with experienced vice presidents and a board of directors with extensive business and community knowledge.

Stability and Growth: The bank has demonstrated consistent growth while maintaining financial stability, expanding from its original Shallowater location to five branches serving multiple communities across Texas.

Relationship Banking: As a community bank, First State Bank emphasizes building long-term relationships with customers rather than treating banking as merely transactional.

Question 7

What type of financial institution is First State Bank (Shallowater)?

Accepted Answer

First State Bank (Shallowater) is a State Chartered Commercial Bank. The bank operates under a state charter and is classified as a state-chartered bank with FDIC supervision, but is not a member of the Federal Reserve System (FED Nonmember Bank).

As a commercial bank, First State Bank provides a full range of services to both retail customers (individuals and families) and commercial customers (businesses and organizations). This classification allows the bank to engage in diverse lending activities, including residential mortgages, commercial real estate, small business loans, and consumer lending.

The bank operates as a subsidiary of South Texas Bancshares, Inc., its holding company, while maintaining operational autonomy and local management control. This structure provides the bank with the resources of a larger organization while preserving its community bank character and responsiveness.

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About First State Bank (Shallowater) in the United States

First State Bank (Shall­owater)