History of First State Bank
The State of Texas issued the original charter to Mesquite State Bank
on July 6, 1962. The Bank opened in the old lumberyard building beside
the railroad tracks, just off the square. The doors opened for business
in November of 1962 and the bank moved to the present location in the
summer of 1963.
Many of the original stockholders were from Mesquite. The first president
was Harold Ensey.
On May 29, 1963, controlling interest in the Bank was sold to Seagoville
Investments. Mr. “Pappy” Reeves owned Seagoville Investments.
Mr. Reeves owned or controlled other area banks also. Joe Baker was
elected president of the bank upon the sale.
The Shotgun Land and Cattle Company, Inc purchased control of the
Bank on April 27, 1965. It appears that Scott Hudson was elected Chairman
of the Board and president of the Bank at that time.
By 1968, the Bank was experiencing difficulties. The stock was devalued
and controlling interest was passed to Reuben Knight of Wichita Falls.
On January 8, 1969, Mr. Knight's trustee transferred his interest
to another group. It appears that Ralph Milburn was elected Chairman
of the Board and D.A. Weckworth as elected president.
On April 1, 1970 Briggs Todd purchased control of the Bank. He was
immediately elected Chairman of the Board and President. He brought
his son John Todd and son-in-law Ron Price on board at that time.
Mr. Todd and his family, eventually, purchased the entire Bank. The
family continues to own the Bank and remain active. Unfortunately, Mr. Todd
passed in January 2010, his son John Todd and granddaughter Rona Lee
Price are directors. His grandson, Todd Price is director and President
of the Bank. Grandchildren John Todd Jr. and Charles Todd also work at the Bank.
The Bank’s name has changed from Mesquite State Bank, to First
State Bank, to First State and Savings Bank and back to First State
Bank since 1970, but management has remained the same.