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 under the Todd Trust, eventually, purchased the entire Bank. The Todd Trust continues to own the Bank and remain active. Unfortunately, Mr. Todd passed in January 2010. His son John Todd, daughter in law Janice Todd, and granddaughter Rona Lee Price are directors. His grandson, Todd Price is director and Market President of the Bank. Grandson Charles Todd also works 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. As of 2014, Executive management is comprised of Clinton Dunn, Chairman/CEO, Ed Lopez, President/CLO, Todd Price, Market President, and Michael Ebie, EVP/CFO.