Question 1

What is State Bank of Wynnewood?

Accepted Answer

State Bank of Wynnewood is a community-focused commercial bank specializing in agricultural lending. Located in Wynnewood, Oklahoma, the bank operates as a single-branch institution with approximately $110 million in total assets.

As an independent state-chartered bank regulated by the FDIC, State Bank of Wynnewood serves Garvin County and surrounding rural communities. The bank is owned by Garvin County Bancshares Inc., a one-bank holding company also headquartered in Wynnewood.

With 16 employees, the bank focuses on providing personalized banking services to individuals, families, farms, and businesses in south-central Oklahoma.

Question 2

When was State Bank of Wynnewood founded?

Accepted Answer

State Bank of Wynnewood was founded in 1910, making it over 115 years old. The bank was established during a period of significant growth in Oklahoma banking, just three years after Oklahoma achieved statehood in 1907.

Throughout its history, the bank has maintained its commitment to serving the agricultural and commercial needs of rural communities in the region. The institution has remained locally owned and operated for more than a century, adapting to changing economic conditions while preserving its community banking values.

Question 3

Where is State Bank of Wynnewood headquartered?

Accepted Answer

State Bank of Wynnewood is headquartered at 117 South Dean A. McGee Avenue in Wynnewood, Oklahoma. Wynnewood is located in Garvin County in south-central Oklahoma, approximately 75 miles south of Oklahoma City.

The bank's single location serves as both its headquarters and its only branch office, reflecting the institution's deep roots in the local community.

Question 4

Where does State Bank of Wynnewood operate?

Accepted Answer

State Bank of Wynnewood operates from its single branch location in Wynnewood, serving Garvin County and the surrounding rural areas of south-central Oklahoma. The bank's Community Reinvestment Act (CRA) assessment area includes portions of multiple counties in the region.

Despite having only one physical location, the bank has extended its reach through agricultural lending relationships. Historical records indicate the bank has served customers across Oklahoma and even in neighboring states through specialized agricultural and equipment financing programs.

The bank's primary service area encompasses communities such as Pauls Valley, Lindsay, Elmore City, and other towns in the non-metropolitan region of southern Oklahoma.

Question 5

What services does State Bank of Wynnewood offer?

Accepted Answer

State Bank of Wynnewood offers a comprehensive range of traditional banking services tailored to rural communities:

Commercial and Agricultural Lending: The bank specializes in agricultural financing, including farm loans, ranch financing, and equipment leasing. Commercial and industrial loans are also available for local businesses.

Real Estate Lending: The bank provides residential mortgage loans, home equity loans, and commercial real estate financing. Real estate-secured loans represent a significant portion of the bank's lending portfolio.

Deposit Services: Customers can access checking accounts, savings accounts, certificates of deposit (CDs), and IRA accounts with competitive rates.

Consumer Banking: Personal loans and consumer financing options are available, though the bank does not offer credit card products.

Digital Banking Services: The bank provides online banking and mobile banking platforms, allowing customers to manage accounts remotely, transfer funds, and deposit checks. The bank also operates one ATM for cash access.

Customer service is available by phone at 405-665-2001 or toll-free at 800-752-2624, emphasizing personal accessibility and local decision-making.

Question 6

What makes State Bank of Wynnewood unique?

Accepted Answer

State Bank of Wynnewood distinguishes itself through several key characteristics:

Agricultural Specialization: The bank holds an official Agricultural Specialization designation from federal regulators, reflecting its expertise in farm and ranch financing. This specialization enables the bank to understand the unique financial challenges facing agricultural producers.

Local Decision-Making: All lending decisions are made locally by bankers who live in and understand the communities they serve. This contrasts with larger regional or national banks where decisions may be made at distant headquarters.

Strong Financial Performance: The bank maintains a robust Tier 1 Leverage Ratio of 15.28%, well above regulatory requirements, demonstrating exceptional financial strength and stability. The bank's return on assets (ROA) of approximately 1.0% indicates solid profitability.

Century-Plus Legacy: With over 115 years of continuous operation since 1910, State Bank of Wynnewood has weathered economic cycles, the Great Depression, agricultural crises, and modern financial challenges while remaining independent and locally owned.

Community Reinvestment: The bank earned a "Satisfactory" rating in its most recent Community Reinvestment Act evaluation, demonstrating its commitment to meeting the credit needs of its entire community, including low- and moderate-income neighborhoods.

S-Corporation Structure: The bank operates as an S-Corporation, which provides certain tax advantages and reflects its status as a closely held, community-focused institution.

Question 7

What type of financial institution is State Bank of Wynnewood?

Accepted Answer

State Bank of Wynnewood is a State-Chartered Commercial Bank with agricultural specialization. As a state-chartered institution, it is regulated by the Oklahoma State Banking Department and the FDIC, but is not a member of the Federal Reserve System.

The bank operates under the traditional community banking model, emphasizing relationship-based banking and local ownership. Unlike larger regional or national banks, State Bank of Wynnewood maintains a single location and focuses on serving a defined geographic area.

As a commercial bank with agricultural specialization, the institution provides a full range of deposit and lending services while maintaining particular expertise in farm and ranch financing. This classification reflects both its regulatory structure and its market positioning as a rural community bank serving agricultural producers alongside traditional retail and commercial customers.

State Bank of Wynnewood

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About State Bank of Wynnewood in the United States