The people of West Texas were forming towns, creating farms and ranches and starting businesses. All that activity needed capital, so a group of men led by C.E. McLean came together to form a new bank. With $12,000 in capital, they opened the doors to The First State bank of Dimmitt—the predecessor to First United Bank.
It didn’t take long before the corner of South Broadway and Jones Street became a financial hub. Solid roots in agriculture meant that many of the area’s farmers and ranchers came to rely on First State Bank’s sound financial advice and available capital. That financial wisdom and broad customer base meant FSB was one of the few banks in the southwest that survived the Great Depression without new capital or reorganization. For decades, the bank grew on the simple philosophy of listening to customers’ unique financial needs and serving them with honesty and integrity.
After 75 years of operating the bank, the McLean family sold to B.E. Lloyd of Muleshoe in 1982. In 1985, Ray M. Bain and a small group of investors purchased the bank from Mr. Lloyd, beginning an unprecedented area of growth and success.
Thanks to advances in computer technology, the 1980s brought about significant opportunities to streamline bank operations. First State Bank recognized the need to adapt to the changing lifestyles of our customers and implemented some of these technologies, including the first ATM in 1985. This ability to balance time-tested financial principles with insights into customer needs guides First United today.
In May of 1996, directors Ray M. Bain, Stanley Schaeffer, Shirley L. Garrison and Joe Josselet joined new investors V.H. Harman, Jr., Johnny Trotter, R. Mark Bain, Michael L. Bain and David Schaeffer to purchase the interests of all other shareholders.
Ray M. Bain and the bank’s Board of Directors were determined to bring their values of sound financial advice, integrity and excellent customer service to more communities in West Texas. In January of 1989, First State bank acquired Citizen’s State bank of Earth and two years later brought The First State Bank of Seagraves into the family. Another acquisition, Shadow Hills National Bank of Lubbock in 1994, confirmed the Board’s decision to change our name to First United Bank. This name better reflected the unity of a single family serving several communities.
In April of 1996, First United Bank added a second Lubbock location by opening the Southwest Lubbock Banking Center. By the end of 2000, FUB had acquired The First National Bank of Sudan, with branches in Sudan and Littlefield, and established a new banking center in Seminole. In 2004, FUB moved northward and opened the Center City Banking Center in downtown Amarillo. Soon after, the Colonies Banking Center and Tradewind Banking Center were opened to bring Amarillo’s number of locations to three. In late 2005, FUB added a Banking Center in Canyon. In January of 2007, First United Bank acquired The First National Bank of Lamesa. Wichita Falls opened its Banking Center in late 2011 and early 2012 saw the completion of Lubbock’s third location, the Southeast Banking Center.