BankTexas celebrated the 100th Anniversary last week of its National Charter in Quitman, where it began.

The First State Bank of Quitman, now BankTexas, applied for and was granted a national bank charter on Oct. 21, 1914. During the Great Depression, it survived as the only bank in Quitman and remained the only bank in the town for almost 50 years, according to a statement.

Having originated in the 1890’s as Uncle Bill’s bank in the back of the mercantile store owned by William M. “Uncle Bill” Lloyd, and before banking regulations and deposit insurance existed, residents relied on the character and commitment of a man who they knew and trusted to take care of their money. He would often use a customer’s cattle or the seasonal crops as collateral for small loans.

Around the turn of the 20th century, Uncle Bill’s little bank had outgrown the back corner of the mercantile store and moved into its own building on the town square.

The discovery of oil in 1941 significantly changed not only the county but the bank as well. Deposits began to soar, reaching over $2 million in 1944 and over $5.5 million by the Bank’s 50th anniversary in 1964. During this time, the county moved from an agricultural base dependent on farming to one that relied on beef and dairy cattle as well as oil and gas production.

Today, the bank’s assets total more than $600 million.

When the bank moved to its current location, at 412 E. Goode St., the former location was donated in-part to the City of Quitman for use as a public library. The building is still in service under another use.

In 2001, it was the first bank in Wood County to offer online access to bank accounts. It continues to adopt new technology to serve customers.

In 2005, the bank changed its name to BankTexas, reflecting the need to differentiate itself from other banks with the same name. The bank opened its first branch in 1997 and now operates 10 locations in Quitman, Winnsboro, Mineola, Lindale, Kilgore, Holly Lake Ranch, Carthage, Tyler, Longview and Dallas, as well as online at www.banktexas.org.