About Us - History
The present bank in Normangee - Normangee State Bank - was chartered
in 1912. A building committee made up of J.H. Wooley, T.A. Cozart, J.C.
Ford and Joe Rogers was given the charge of developing plans and
instructions for a bank building, and the bank's first vice president,
W.T. Hollis, purchased $6,500 in U.S. two percent bonds and deposited
them with the U.S. Treasurer, as required by law to secure the bank's
formation. The charter, number 10275, was issued in Washington, D.C., on
Oct. 10, 1912, authorizing the bank to begin business. The property at
the northeast corner of Main and Second streets was purchased, and the
bank home was completed on Sept. 9, 1913, at a cost of about $4,300.
Many banks throughout the country failed during the Depression, but the
First National Bank kept its doors open.
When the town's other bank, the First State Bank, failed, the First
National Bank purchased the assets of the First State Bank on May 27,
1936. The liabilities purchased totaled $18,300.
During the late 1930s, the directors of the First National Bank were Joe
Lagravier, M.L. Bennett Jr., W.L. Martin and Mrs. J.L. Wooley. Otho
Youngblood was vice president and chief operating officer of the bank at
He was succeeded by Tom Burke in January 1943. In 1946, the directors
were Jack Ellison, P.L. Westmoreland, Davis Cozart, Tommy Hill, Carl
Martin, Joe Lagravier, Ray Epps, Dr. J.L. Jinkins and Mr. Burke.
Mr. Burke was killed in an automobile accident in 1954, and John R.
"Bob" Hines became chief operating officer. Jack McCain was president
from April 1955 to January 1961.
The bank received a state charter in March 1962, and was renamed the
Normangee State Bank. Walter Young was executive vice president from
April 1961 to February 1962.
The Normangee State Bank took a major step forward in 1967, when it was
purchased by four businessmen: Percy Westmoreland, Mac L. Bennett Jr.,
Royce Shaw and Doyle Reed. It has been locally owned and operated since
that time. Mr. Bennett and Bill Novosad became directors, and Molly
Sweeden and Sandra Shaw joined the bank staff.
The assets of the bank at that time were $1,381,074.94, and a major push
was begun to increase those assets to $2 million. That was accomplished
on Aug. 4, 1969. At that time, Novosad, Bennett, Westmoreland, Reed and
Shaw were directors, and Rachael Bennett, Molly Bowman, Sandra Shaw and
Gary Martin joined Royce Shaw as the bank employees.
The bank continued to increase its assets over the next 30 years. In
1974, they had reached almost $4.5 million, and that figure increased to
over $6.5 million at the end of 1976. The next six years saw a jump to
almost $15 million at the end of 1982, and six more years saw those
assets increase to over $24 million. At the close of business at the end
of 2000, the bank had assets of almost $45 million. It has consistently
ranked among the top banks in the state among those considered to be
solid financial institutions.
Dr. W.A. Bilsing joined the bank as a director in 1974, and Victor
Hillman became a director and employee in 1976. Joel and Jake Shaw
joined the employee ranks in 1982 and, along with Molly Sweeden, became
directors in 1988. Royce Glen Shaw became an employee in 1999.
In 2000, Royce Shaw turned the day-to-day operation of the bank over to
his oldest son, Joel, giving him the title of executive vice president.
In 2001, Royce Shaw relinquished more of the leadership of the bank to
Joel, giving him the title of chief executive officer.
In the past 10 years, the bank has twice added space, remodeled both its
interior and exterior, and added services to its customers. Under the
leadership of the Shaw family, it has adhered to the philosophy that
loans should not be made that are secured beyond a reasonable length of
time. Distribute your loans rather than concentrate them in a few hands.
Treat your customers liberally, bearing in mind the fact that a bank
prospers as its customers prosper.
Today, the bank continues to be a vital part of the community. Directors include W. A. Bilsing, M.D., Victor R. Hillman, Tom G. Holmes, C. Jack Hunter, Jake Shaw, Jamie Shaw, Joel A. Shaw, Royce Shaw, Royce Glen Shaw, Jr. and Molly Sweeden. Officers and employees include Royce Shaw – Chairman of the Board, Joel A. Shaw – Chief Executive Officer, C. Jack Hunter – President, Royce Glen Shaw, Jr. – Vice President, Jake Shaw – Vice President, Dena Stewart – Cashier, Manon Burleson – Assistant Cashier, Lyn Shaw – Assistant Cashier, Nina Theiss – Teller, Sonia Nava – Teller, Diana Smith – Teller and Mary Clements – Teller.