The History of the First National Bank of Stanton
The First National Bank of Stanton has served Martin County and the surrounding area for over 100 years. It has survived two World Wars, the Great Depression and the Dust Bowl. It has continued to operate during numerous droughts and several oil booms and busts. The Bank plans to continue to offer the same quality service in the future that it has for the last 100 plus years.
The First National Bank of Stanton was organized by seven stock holders, six of whom were local people, in 1906 with Capital Stock of $25,000.00 and Surplus of $25,000.00. The first bank building, which served the bank for 45 years, was soon constructed. This original building is now the home of Stanton Drug. In 1951 the Bank moved across the street to the south of the original bank building where it is still located today.
The first active manager of the Bank was Paul Konz who was a member of a pioneer family that moved to Stanton when the town was in its infancy. He served the Bank well until his untimely death in 1919. Jim Tom, another member of a pioneer family that had worked for the Bank since 1909, then took over as manager. Mr. Tom guided the Bank through many critical times during his sixty years of service before he passed away in 1969. R.O. Anderson succeeded Mr. Tom as active manager.
The original stockholders of the Bank were A.L. Houston, J.E. Millhollon, Paul Konz, J.H. Epley, E.R. Bryan, Mrs. Mollie Robertson and J.T. Pemberton. These directors helped guide the Bank for as long as they lived.
The first president was A.L. Houston, a charter member, who served from 1906 to 1931. He was followed by J.E. Millhollon, also a charter member, who served from 1931 to 1938. The third president was W.Y. Houston serving from 1938 to 1946. In 1946 Jim Tom was promoted from Cashier to President, a position he held until 1966 when he became Chairman of the Board until his death. R.O. Anderson was elected to serve as President in 1966 which he held until 1976 at which time he moved to a newly created position as Chief Executive Officer and Chairman of the Board. Ed Lawson then took over as president until 1985. Paul Crosthwait served as president from 1985 to 1994 and served as CEO and Chairman of the Board from 1990 to 1994. Raymond Walton served as President, CEO and Chairman of the Board from 1994 until his retirement in 2006. David Matthews currently serves in this capacity.
First National Bank of Stanton