The History of Fayetteville Bank
Fayetteville Bank has a rich history in Fayetteville– this year, the bank is celebrating 100 years of service.
The first known bank in the area was a private bank known as Schuhmacher Bank. According to local sources, Schuhmacher Bank began operating around the turn of the century and received its state charter in 1916, becoming Fayetteville State Bank.
Farmers National Bank of Fayetteville was organized in late 1916 and was chartered and authorized to begin business in early 1917.
In September 1933, the shareholders of Fayetteville State Bank voted to dissolve their bank and surrender their charter. All of Fayetteville State Bank’s deposit liabilities were assumed by Farmers National Bank.
In 1969, the shareholders of Farmers National Bank voted to apply for a state charter and to surrender their existing national charter. The new charter was granted January 2, 1970. The “new” Fayetteville Bank began operation on the first business day of the new year.
Fayetteville Bank opened a loan production office in Schulenburg, Texas in 1990. Due to the good rapport the bank built with their local clientele, the Bank converted the office into a full-service operation in 1998.
September 2003 once again brought changes to Fayetteville Bank. Industry Bancshares, located in Industry, Texas, purchased Fayetteville Bank and James E. Lindemann became Chairman of the Board.
In 2012, Fayetteville Bank expanded their operations and opened a branch office in La Grange, Texas.
Fayetteville Bank has gone through many changes in its long history. The Bank has continuously enjoyed a stable, steady growth in deposits and earnings.