Legend Bank

In the Beginning�Organizing the first bank in Bowie must have been something like the homesteading of Oklahoma, if we can read between the lines of the old records left with us by those hardy financiers of over 110 years ago.

In 1890, although Bowie had existed until that time without a bank, it suddenly occurred to at least two groups almost simultaneously that such a financial institution be organized. The Articles of Association for the First National Bank were dated March 10, 1890. Just exactly what happened is not entirely clear, but we have reconstructed in this way: Beginning three days after The First National Articles of Association had been drawn, 10 men purchased stock over a two week period, using the name " Bowie National Bank."

Of this group of men, 4 were from Dallas, 2 from Galveston, 2 from Henrietta, 1 from Wichita Falls and 1 with Bowie as his address. Jon. G. James, Esq. of Henrietta was the largest purchaser of these shares, and it is known that he was also active in Wichita Falls in its earlier days.

Apparently this group failed to get a charter, or perhaps were dissuaded from pursuing their cause. At any rate, on March 19, 1890 the Comptroller of Currency issued National Bank Charter #4265 to the First National Bank.

The original stock book used by The First National Bank contains a group of twenty-seven stubs. They show to have been issued representing a total investment of $23,000 in stock of the proposed Bowie National Bank, which stubs are marked with the notation "Stockholders being paid by us, the Certificates were destroyed" and signed by Officer of the First National Bank. These shares were printed in the name of the Bowie National Bank and called for an organization with Capital Stock of $75,000, in shares of $100 each. However, the 27 certificates that were destroyed totaled $23,000, so we can only assume that this effort never did get off the ground.

The bank name on the remaining certificates was changed by rubber stamp, to the First National Bank. Capital Stock was lowered to a less ambitious $50,000 by simply marking out the higher amount and writing in the new figure in red ink. These certificates, with their crude corrections, were then issued to the organizers of the First National Bank beginning April 17, 1890 -- almost a month after the charter had been issued. The last of this book of certificates was used in October of 1943. It was not until that time that The First National Bank had its own stock certificates.

Our Bank moved into its own home after only a short time in rented quarters on the West side of Tarrant Street.

The first Board of Directors was composed of Z.T. Lowrie, T.C. Phillips, G.D. Thomas, C.H. Boedecker, B.F. Wilhite, L.A. Alsabrook and A.C.Schneider.

Pictures inside the Bank during the 1920's The Great Depression� There were dark days for Banking in Bowie. In 1932 The First National, having already seen all the other banks in Bowie close their doors, did not even spend the money to have their statements printed. That statement was of the close of business on December 14, 1932. The statement was typed, signed and copies were prepared with carbon paper, to save the cost of printing. Copied here for your information following:

RESOURCES

Loans & Discounts

Overdrafts

US Bonds Owned

Stock in Federal Reserve

Banking House

Furn. & Fixt

Real Estate Owned

Other Stock Owned

5% Redemption Fund

Cash & Exchange

LIABILITIES

Capital Stock

Surplus

Undivided Profit

Circulation

Deposits

Bills Payable

Rediscounts

It was less than three months after this date that the nationwide bank holiday was declared. Our bank was permitted to reopen for business Mach 15, 1933, the first day that any national bank outside of reserve cities and cities with clearing houses was permitted to open. The First National was forty years old, and found that it was true "Life begins at forty".

Before many years had passed some additional space was taken into the bank, and that marked all the expansion until 1947. At that time the basement was built, with a vault underground, and a vault ground level. The First National Bank Community Room was also added into the same building. Link to late 1940's and early 1950's Deposits first saw the Million Dollar mark in 1940. The wag that sometime, somewhere said "The First Million is the hardest" must have been thinking of our bank. It took 50 years to get to the first Million; less than three years later the two million milepost was passed. And then, passing eleven million in 1965.

The First National Bank saw much growth during this time period. During the early 1960's, The Bank, wanting to make the banking experience more convenient for its customers built its first motor bank, located across the street from the main building. This location was remolded during the late 1970's and again during the early 1980's. The motor bank and the bank�s main office building was also remodeled during the mid 1960's, the early 1980's, and again during the mid 1990's. It was during the 1990�s that the First National Bank of Bowie saw huge growth by acquiring and building four additional Banking Centers located in Nocona, Alvord, Henrietta, and Decatur. The combined assets of the First National Bank of Bowie achieved all time records in 1999 when they grew to over $223 million.

The 2000�s and beyond�

The First National Bank of Bowie as with the banking industry as a whole had undergone tremendous change in the past few years. Providing new products, new faces, new technologies, new branches, and new and different ways to do things, the bank was well positioned to thrive in the years ahead. Facing constant changes in banking industry, and increased competition from other banks (over 300 First National�s in Texas alone) and financial organizations, the Board of Directors realized we were limiting our future potential because our current name limits our ability to branch into other markets. With continued commitment to remaining an independent and locally owned bank, and wanting to be responsive to our customers and communities, The Board � after careful study and deliberations � voted to pursue a name change for the bank.

When choosing a new name for the bank, the Board of Directors wanted a name that would reflect on the Bank�s 111 years of outstanding financial service and support to its customers and the communities where located. In banking circles, The First National Bank of Bowie is truly a banking legend. So, it was felt that no better name could be chosen than LEGEND BANK.

As we face the new century in providing our communities� with another 111 years of sound banking and financial services, we can say with all confidence that at the LEGEND BANK, the legend continues . . .

The first President, Z.T. Lowrie was elected at that time and remained in that capacity until January 12, 1897. T.C. Phillips then succeeded to the Presidency, B.F. Wichita was named Vice President and A.E. Thomas succeeded Mr. Phillips as Cashier. Mr. Phillips served as president for about 25 years, and then turned the reins of the bank back to Mr. Lowrie who served on an interim basis for only a short while. In July 1922, J.A. Coker became President and held that office until February 1929, when T. Roy Coffield succeeded him. Mr. Coffield served as President until July 1951, when he resigned to become Chairman of the Board. Charles Graham was then elected President and continued in that post until he resigned at the end of 1956. The January 1957 Board meeting saw the election of Charles W. Coffield as Chief Executive Officer. Charles served as President until 1974. Joe E. Probst was then elected as President/CEO June 1974 and served in that capacity until his retirement March 31, 1996.Sammy York was then elected President/CEO February 20, 1996 to follow Mr. Probst�s retirement, Sammy York was then elected President. He remained President and C.E.O. until his resignation in November 2000. Our current President, James A. Woodall, succeeded Mr. York. Jim comes to us from the Dayton State Bank in Dayton, Texas.

Since formation, the bank has had fourteen Cashiers. In chronological order these have been : T.C. Phillips, A.E. Thomas, Cecil Thomas, A.L. Theisen, A.W. Johnson, L.E. Davis, J.N. Fulcher, David Warren, Lynn Garlington, Fred Lybrand, L.O. Miller, F.J. Moss, George A. Hoeldtke and Bret Meekins.