Snyder National Bank
Snyder, Scurry County, Texas
Marker Inscription
In 1890 F. J. Grayum began the Snyder Bank, a private institution, in his drugstore on the south side of the square. Although Snyder had no railroad and goods were shipped on wagons from Colorado City (25 mi. S), W. A. Fuller, a wealthy rancher, saw the need for a national bank to encourage business growth. Fuller and his associates bought out Grayum's bank. The Snyder National Bank opened on March 13, 1905, with Grayum serving on the first board of directors and as cashier. Fuller was president and E. W. Clark served as vice president. During the 1930s when many banks were closing, M. A. Fuller, who served as president from 1924-39, announced that he was bringing a plane loaded with cash into town. After unloading the sacks of money, Fuller invited the worried customers to withdraw their accounts. This dramatic move seemed to reassure the community and there was never a "run" on the bank. After operating for a short time from Grayum's Drugstore, the bank occupied several locations on the square before moving to this site in 1957. Through the years the bank has served as a stable financial force in the county. (1979)
Erected by Texas Historical Commission
The Story
Banking came to Snyder in 1890 when F. J. Grayum opened a private bank inside his drugstore, in a town so remote that goods still arrived by wagon from the railroad 25 miles south. In 1905 rancher W. A. Fuller and his associates bought out Grayum and chartered the Snyder National Bank to spur the town's growth. During the bank runs of the 1930s, president M. A. Fuller famously flew in a plane loaded with cash and invited nervous customers to withdraw their money — a bluff that steadied the community and prevented a run.
Why it matters
The bank's story captures the financial backbone of a frontier ranching town and the theatrical confidence that carried local institutions through the Great Depression.
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Related people
- · F. J. Grayum
- · W. A. Fuller
- · M. A. Fuller
Related events
- · Great Depression bank runs
Themes & tags
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