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RAY M. BAIN
President, First United Bank |
| 1907 1985 1987 1989 1991 1994 1996 2000 2004 2005 2007 |
| Roll your mouse over any year for more information. |
| First United Bank - Over 100 Years of West Texas Banking at its Best |
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The year was 1907 and the landscape of the West Texas Plains was beginning to take shape. Towns were forming, farms and ranches were being cultivated and businesses were starting up across the region. Mr. C.E. McLean and a group of men with a vision for the future decided to form a new bank to service the people of the area. Starting with only $12,000 in capital, they opened the doors to The First State Bank of Dimmitt - the predecessor to First United Bank. |
| 1928 Bedford and Broadway Streets |
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The original building, located at the corner of South Broadway and Jones Street, quickly became the financial center of the area. Still true today, Agriculture was the bank’s primary focus and the bank played a pivotal role in helping the farmers and ranchers in the area get started. First State Bank of Dimmitt was one of the few banks in the southwest that survived the Great Depression without new capital or reorganization. Over the next several decades, the bank thrived and grew stronger on the simple philosophy of listening to the financial needs of their customers and serving them with honesty and integrity. |
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| E. S. Noble and Little Safe |
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1987 SEES A CHANGE IN OWNERSHIP |
| After having operated the bank for 75 years, the McLean family sold the bank to B.E. Lloyd of Muleshoe, Texas in 1982. At this same time, computers were beginning to change the face of the American banking industry, streamlining internal operations. In 1983, the bank purchased its first computer and in 1985, the first Automated Teller Machine (ATM) was installed. Also in August of that year, Ray M. Bain joined First State Bank and later became President of the Bank. In January 1987, Mr. Bain and a small group of investors purchased the bank from Mr. Lloyd and the next phase in the bank’s history began. |
| Original First United Bank Board 1987 |
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In May 1996, directors Ray M. Bain, Stanley Schaeffer, Shirley L. Garrison and Joe Josselet from the original 1987 investment group along with Mr. V.H. Harman, Jr. of Tulia, Texas, Johnny Trotter of Hereford, Texas, R. Mark Bain of Lubbock, Texas and Michael L. Bain and David Schaeffer of Dimmitt, Texas purchased the interests of all other shareholders. |
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| 1977 Broadway and Etter Streets |
Bedford and 3rd Streets |
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FIRST UNITED BANK EXPANDS IT'S TRADITION OF
PERSONAL SERVICE
AND EXCELLENCE |
Under the direction and leadership of Ray M. Bain, the Bank’s Board of Directors were determined to build on the bank's strong foundation and expand to other areas throughout West Texas, from the Panhandle to the South Plains of Texas. In January of 1989, First State Bank acquired Citizen's State Bank of Earth from the FDIC in a failed bank transaction and two years later in January 1991, the First State Bank of Seagraves. Expansion continued in December 1994 with the acquisition of Shadow Hills National Bank in Lubbock. In October 1994, prior to the move into the Lubbock banking market, the bank changed its name from The First State Bank of Dimmitt to First United Bank to reflect the uniting of all banking locations under a common name and to build on the bank’s growth and emphasize its commitment to West Texas.
In April 1996, First United Bank added its second Lubbock location with the establishment of its Southwest Lubbock Banking Center. In July 2000, FUB acquired The First National Bank of Sudan, which added banking centers in Sudan and Littlefield, Texas. The Bank expanded again in December 2000 by establishing a new de novo banking center in Seminole, Texas. In February 2004, FUB expanded northward into the Texas Panhandle by opening its Center City Banking Center in downtown Amarillo, Texas. The Bank followed with the opening of a second Amarillo location in May 2004 by establishing the Colonies Banking Center in Southwest Amarillo. Amarillo’s third location, Tradewind Banking Center opened in November 2005. Then, in December 2005, the Bank established yet another de novo banking center in Canyon, Texas. In January 2007, First United Bank acquired The First National Bank of Lamesa, Lamesa Texas. |
| CUSTOMERS AND COMMUNITY ARE NUMBER ONE |
Today, First United Bank now has approximately one billion dollars in assets, with 13 banking center offices in 10 West Texas communities. The Bank’s parent company, Plains Bancorp, Inc., is owned by 25 shareholders who are all West Texans and actively involved in the management of the bank.
From a $12,000 stake in the small West Texas town of Dimmitt and a simple philosophy to treat people right and to do the right thing, First United Bank has become one of the strongest and fastest growing institutions in the state of Texas. Ray M. Bain, President & CEO states “We are very proud of our heritage. We have been successful due to the hard work and loyalty of our customers and by hiring great people who are truly committed to our organization and to the communities in which we serve”. “We look forward to assisting our customers in a rapidly changing financial services environment and are committed to do our part to help our communities and our region, grow and prosper”. |
| A TRUE WEST TEXAS BANK |
Roots run deep in West Texas for First United Bank. In fact all our roots are right here. Since it’s beginning in March 1907 as The First State Bank of Dimmitt to First United Bank today, the business model has always been focused on West Texas communities, the people who live there and their distinct financial needs. Our Board of Directors, banking officers and employees are a who’s who of community and business leaders that live, work and volunteer their talents to the communities they live in across West Texas. They understand the importance of agriculture, energy and small business to our economy, but more importantly, they understand that people come first.
As we begin a second century of service, we’re thankful for the trust our friends and customers have placed in us… we will continue to put down our roots right here in West Texas. |
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JANUARY 1, 2007
Lamesa Banking Center established.
First United Bank Celebrates
100th Anniversary
NOVEMBER 7, 2005
Amarillo Tradewind
Banking Center established.
DECEMBER 19, 2005
Canyon Banking
Center established.
FEBRUARY 1, 2004
Amarillo Center Cities
Banking Center established
MAY 24, 2004
Amarillo Colonies
Banking Center established.
JUNE 28, 2004
Mobile Banking
Center established.
JULY 14, 2000
Sudan Banking Center established.
Littlefield Banking Center established.
DECEMBER 4, 2000
Seminole Banking
Center established.
APRIL 1, 1996
Lubbock Southwest
Banking Center established.
1994
Name changed
First United Bank
DECEMBER 1, 1994
Lubbock Northwest
Banking Center established.
JANUARY 21, 1991
Seagraves Banking
Center established.
JANUARY 20,
1989
Earth Banking Center established.
JANUARY 1, 1987
New ownership and leadership.
AUGUST 1, 1985
Ray Bain joins
First State Bank of Dimmitt.
MARCH 7, 1907
First State Bank of
Dimmitt
is established.
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