Chartered in 1983, First State Bank opened for business on May 26 in Woodson, Texas. The first officers of the bank were Jay Gober, President, and Bobbie Parker as Cashier. The first directors of the bank were Bobby Joe Davis, B.W. Dickie, Jay Gober, Charles Gober, Don Owen, W.E. Harper, and George Harvick.
In September of 1990, First State Bank opened its second location in Throckmorton, Texas and in May of 1991 opened its new facility in Graham, Texas which would become the main bank with the Throckmorton and Woodson banks becoming branches. The Possum Kingdom Branch joined our banking family in December of 2000.
First State Bank has grown from a 'start up' with two employees to our current $121,000,000 asset size with thirty-one employees and four banking facilities. Our success has been due to professional and friendly employees who make banking a pleasant experience for our many customers.
Our current Board of Directors are Charles Gober, Jay Gober, W.E. Harper, Tot Richards and Jim Underwood.
Statement of Condition
Assets
Cash and due from bank
$52,508,799
U.S. Government Bond and Securities
$4,994
Federal Funds Sold
$0
Loans (Net)
$65,079,726
Premises and Equipment (Net)
$1,091,323
Other Assets
$3,061,150
Total Assets
$121,745,992
Liabilities and Stockholders Equity:
Demand Deposits
$30,578,398
Time Deposits
$67,494,985
Total Deposits
$98,073,383
Federal Funds Purchased
$200,000
FHLB Advances
$12,442,501
Other Liabilities
$500,720
Total Liabilities
$111,216,604
Common Stock
$412,500
Surplus
$4,987,500
Undivided Profits
$5,129,388
Total Stockholders Equity
$10,529,388
Total Liabilities and Stockholders Equity
$121,745,992
Officers and Directors
Officers
Title
Jay M. Gober
President and CEO
Jim Underwood
Executive Vice President
Barry Gober
Vice President
Burl Moses
Vice President
Eddie Tucker
Vice President and Cashier
Gloria Sims
Assistant Cashier
Kim Bruton
Assistant Cashier
Bettie McQuinn
Assistant Cashier
Janice Davis
Compliance
Directors
Title
Charles R. Gober
Chairman
Jay M. Gober
Director
W. E. Harper
Director
Tot S. Richards
Director
Jim Underwood
Director
NOTICE OF CHANGES IN TEMPORARY FDIC INSURANCE COVERAGE FOR TRANSACTION ACCOUNTS
All funds in a “noninterest-bearing transaction account” are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC’s general deposit insurance rules.
The term “noninterest-bearing transaction account” includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It also includes Interest on Lawyers Trust Accounts (“IOLTAs”). It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts, and money-market deposit accounts.
For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov.
