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Our Bank History

Farmers National Bank of Newcastle, Texas originated as First State Bank of Newcastle in November 1908. T.R. Coffield traveled from Bowie, Texas by train with $10,000.00 in a suitcase to organize a bank. Mr. Coffield had made arrangements to put the money in the vault in a dry goods store when he arrived. The train arrived late, so Mr. Coffield spent the night in front of the lumber yard guarding the suitcase with his pistol. He conducted business at the lumberyard, carrying the bank roll and receipts with him at night. The first bank building was located on the same lot on which the present building now stands.

The Articles of Association were adopted in November 1908. There were 250 shares of stock held by eleven stockholders. The charter of First State Bank of Newcastle was signed in Austin on December 11, 1908. The First State Bank was organized as a corporation and opened January 2, 1909 to conduct the business of receiving money for deposit, buying and selling gold and silver coins, and loaning money. The first Board of Directors included J.J. Perkins, Wichita Falls, J.A. Kemp, Wichita Falls, T.R. Coffield, Bowie, G.W. Terrell, True, and P.P. Langford, Wichita Falls. The first officers were G.W. Terrell, President, J.J. Perkins, Vice-President, and T.R. Coffield, Cashier. Mr. Terrell served as president until 1911. J.J. Perkins was elected president at that time. In November 1914, a two-story brick building was erected at the cost of $7,575.00 This building, which was remodeled in 1954, was used until October 1994.

The directors of First State Bank of Newcastle met November 14, 1933 to work out plans for a new national banking association which would be known as Farmers National Bank of Newcastle. The agreement of purchase between Farmers National Bank and First State Bank included buying the building and furniture, and assuming all ledger liabilities and assets.

The first Board of Directors of Farmers National Bank were J.J. Perkins, Wichita Falls, T.R. Coffield, Bowie, C.B. Daniels, Newcastle, T. J. Gardner, Newcastle, and E. Joe Vanvetterman, Newcastle. This Board of Directors elected the following officers: J.J. Perkins, President, T.R. Coffield, Vice-President, C.B. Daniels, Vice-President, E. Joe Vanvetterman, Cashier, and Clarence Daniels, Assistant Cashier.

J.J. Perkins served as president until 1940. C.B. Daniels was elected president in 1940 and served until December 1951. E. Joe Vanvetterman served as president from January 1952 until September 1952. E. H. Remington was elected as president at this time and served until 1962. Clarence Daniels was elected as president in 1962 and served until November 1988. Horace "Dutch" Morgan was elected president in January 1989 and retired December 31, 2001 after 53 years in banking. Dutch remained on the Board of Directors until his passing in September 2014. Jerry Whiteley was elected president by the Board of Directors in January 2002. He retired from Farmers National Bank after 45 years of service in December 2007 and remains on the Board of Directors.

In early 1994 the directors broke ground to construct a new bank building. This building was completed in October 1994. In addition to more work space, a drive-up window and night deposit were made available to our customers.

In March 2000, the directors of Farmers National Bank made the decision to offer debit cards and Internet banking in response to the changing needs of our customers.

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