A Bank Rooted in the Community
1913 marked an important year in the History of Texas Gulf Bank. The Freeport National Bank planted its roots, receiving its charter and opening its doors with $50,000 in capital stock. Since that day, the bank has grown and thrived - moving locations, expanding, adding new banking centers, and changing its name. However, one thing remains the same - a community bank building strong foundations through strong relationships.
Freeport National Bank receives its charter and opens with $50,000 in capital stock. The first building was located on W. Park Avenue in Freeport, Texas.
Freeport National Bank begins issuing its own currency backed by the U.S. government. The National Currency Act required that each National Bank Note be signed by the Cashier and the bank's President or VP. The individual charters allowed the issuance of bank notes up to a maximum amount determined by Freeport's population. This process came to an end in 1935, when the Comptroller of the Currency shipped the last of the National Notes. Sample $5 Bill Sample $10 Bill Sample $20 Bill
The Great Depression begins. Times are difficult in the United States, but the bank continues to thrive.
The Banking Act of 1933 establishes the FDIC to provide regulatory oversight and deposit insurance to banks.
World War II breaks out, providing a dramatic effect on the economy as spending on the war begins.
Victory in Europe Day marks the end of the war, and United States bank assets are double their pre-war total.
Diner's Club International is established, and consumers begin using the "credit card."
Freeport National Bank moves from its original location to a larger building at 103 Cherry Street in Freeport. Deposits had grown to $4.5 million and loans were at $1.5 million.
The bank changes its name to First Freeport National Bank.
The first automatic cash dispenser (known today as an ATM) is installed in Barclay's Bank near London.
First Freeport National Bank builds a new three-story building on the corner of Cherry Street and 2nd Street in Freeport, Texas. There is still a branch of the bank at this location today.
First Freeport Corporation, a bank holding company, is chartered to serve as a base to expand. By this year, deposits had grown to $30 million and loans were at $17.5 million.
Chemical National Bank opens on the corner of Dixie Drive and Hwy 332 in Clute.
Alvin National opens. This location was sold to Express Bank in 1992.
First Freeport Corporation changes its name to Texas Gulf Bancshares, Inc. Wealth Management Services were also added to the bank's service offerings.
Coastal National opens its doors at 1717 N. Velasco in Angleton.
Texas Gulf Bancshares receives approval to merge its four subsidiary banks and all adopt the common name of Texas Gulf Bank, NA.
The Lake Jackson branch is opened at 107 West Way.
Texas Gulf Bancshares, Inc. acquires First Commerce Freeport on Brazosport Blvd. in Freeport.
The Lake Jackson branch moves to its current location at 203 This Way.
Texas Gulf Bank, NA opens its 6th location at 730 W. Brazos in West Columbia.
Texas Gulf Bank, NA expands into Houston and opens its 7th location at 1626 S. Voss.
The West Columbia banking center moves to its current location at 109 E. Brazos.
Texas Gulf Bank, NA expands into Friendswood and opens its 8th location at 1100-B S. Friendswood Drive.
The Friendswood banking center moves to its current location at 1003 S. Friendswood Drive.
Texas Gulf Bank, N.A. expands into West U in Houston and opens its 9th banking center at 5600 Kirby Drive
Texas Gulf Bank, N.A. opens its 10th location at 900 Town and Country Lane in Houston.