West Texas State Bank

West Texas State Bank was established on March 3, 1937, originally under the name First State Bank. The bank became a member of the Federal Reserve System on May 14, 1940, and subsequently changed its primary federal regulatory agency to the Federal Reserve. In 1964, West Texas State Bank withdrew from the Federal Reserve System and became a state-chartered bank regulated by the Federal Deposit Insurance Corporation (FDIC). After several decades of operation, the bank changed its name to First State Bank on December 28, 1971, while also relocating its main office to 214 South Main Street in Monahans, Texas. The institution later changed its name to West Texas State Bank on December 8, 2000, and moved its main office to 1501 West University Boulevard in Odessa, Texas. On the same day, it acquired the Bank of the West. West Texas State Bank continued operations until it merged with City Bank in Lubbock, Texas, on November 12, 2019.

Below is a list of some important events in banks history, including mergers and acquisitions.

1937-03-03Institution established. Original name: First State Bank.

1940-05-14Institution becomes member of the Federal Reserve System.

1940-05-14Changed Bank Class to State Chartered Bank, member of the Federal Reserve System (FRS).

1940-05-14Changed Primary Federal Regulatory Agency to FED.

1964-07-21Institution withdraws from membership in the Federal Reserve System.

1964-07-21Changed Bank Class to State Chartered Bank, not member of the Federal Reserve System (FRS).

1964-07-21Changed Primary Federal Regulatory Agency to FDIC.

1971-12-28Changed Institution Name to First State Bank.

1971-12-28Main Office moved to 214 South Main Street, Monahans, TX 79756.

1971-12-28Changed Trust Powers to Full.

2000-12-08Changed Institution Name to West Texas State Bank.

2000-12-08Main Office moved to 1501 West University Boulevard, Odessa, TX 79760.

2000-12-08Acquired Bank of the West in Odessa, TX.

2019-11-12Merged and became part of City Bank in Lubbock, TX.