State National Bank
Groom, Carson County, Texas
Marker Inscription
Founded in 1904 as a private bank by John Walter Knorpp (1867-1952), member of an established banking family of Missouri, New Mexico, and Texas, and Eugene Sherwood Blasdel (1878-1930), oil and grain business developer of this region. In 1905 Blasdel sold his interest to Knorpp. A state charter was obtained in 1908, but surrendered in 1926 for national charter. Patronage from diligent, thrifty early settlers advanced the career of this bank. On its Board of Directors have been members of the pioneer Britten, Fields, Fraser, Harrell, Johnson, Krizan, Slay, and Steele families. I. C. Unsell was cashier from 1908 to 1932. Cecil Culver (born 1903), who came to the bank in 1929 as assistant cashier, purchased the controlling interest from Knorpp and became president in 1951. Adjusting to the crises in the region, State National Bank weathered the panic of 1907, the adversities of the 1930s Dust Bowl, two World Wars, and other national and international experiences. It continues to bolster the cattle, grain, oil, beef feedlot, and other agribusiness interests, and the cultural facilities of Groom and surrounding area.
Erected by Texas Historical Commission
The Story
State National Bank opened in 1904 as a private bank founded by John Walter Knorpp, of an established Missouri and Southwestern banking family, together with regional oil and grain developer Eugene S. Blasdel. Chartered by the state in 1908 and nationally from 1926, it drew its strength from the thrifty settlers and pioneer families of the Panhandle. The bank weathered the Panic of 1907, the Dust Bowl, and two world wars while backing the region's cattle, grain, and oil economy.
Why it matters
A country bank's survival through panic, drought, and depression illustrates how local finance underwrote the settlement and agribusiness of the Texas Panhandle.
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Related people
- · John Walter Knorpp
- · Eugene Sherwood Blasdel
- · Cecil Culver
Related events
- · Dust Bowl
- · Panic of 1907
Themes & tags
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