First State Bank
Loraine, Mitchell County, Texas
Marker Inscription
A leader in area growth. Organized with a capital of $18,000 (1908). Farmers and cattlemen were in majority as stockholders. Presidents have included S.E. Brown, J.C. Hall, K.L. Taylor, and H.J. Mearse. In 1922 a new building was erected and in 1962 the interior was remodeled. (1969)
Erected by Texas Historical Commission
The Story
Founded in 1908 with $18,000 in capital, this bank reflected the West Texas community it served — its stockholders were mostly farmers and cattlemen. It grew with Loraine, erecting a new building in 1922 and remodeling its interior in 1962. A succession of local presidents guided the institution through decades of area growth.
Why it matters
Small-town banks funded the farms and ranches that were the lifeblood of rural West Texas, making them quiet engines of local prosperity.
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Themes & tags
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