Our Story

First State Bank & Trust Co. Since 1902

First State Bank Lobby 1930's

The lobby of First State Bank in the 1930s appears quaint, but it was modern for its time. Pictured are (from left) B. F. Payne, Ben Lacy, and Dan Shaw. First State Bank & Trust Co. was organized in 1902 under the name of Merchants and Farmers National Bank. This name was used until 1915 when it became Guaranty State Bank. This conversion was made and encouraged by the State of Texas in an attempt to provide greater security for customer deposits. This was the forerunner of FDIC coverage that was established in 1933.

The name of the bank was changed to First State Bank in 1925 as the Guaranty Fund of the State of Texas was eliminated. The bank was purchased in 1927 by B. F. Payne. First State Bank & Trust Co. and the controlling interest in First State Bank Carthagethe bank is retained by his family. The bank survived the Great Depression and the Bank Holiday declared by the Roosevelt Administration. When the bank reopened, accounts were covered to a maximum of $5,000.00 per account.

The last name change was made in 1963 when a trust department was added and the institution became First State Bank & Trust Co.

Today the First State Bank and Trust Co. provides the best solutions through consultation, superior hardware and software, and ongoing professional suppport and training.