Farmers & Merchants Bank, owned by G.D. Simpson, operated in Bells two years prior to December 24, 1904, when First National Bank of Bells received its charter and W.B. Blanton became the first President. Succeeding presidents included C.R. Badgett, W.P. Ferguson, N.C. Ferguson, G.D.F. Whiting, T.P. Wells, Jeffer Dickins, Paul Wilson, and Jim McCellan.
In 1965, the bank was sold to R.B. Detro, who wanted an ultra modern bank building, and in 1966, built a new building at the intersection of Hwy. 69 and (what was previously known as) Hwy. 82. The bank became known as “The Bank at the Crossroads”.
Mr. Detro’s idea of modern banking included replacing teller cages with desks. This was the norm for the bank until July, 1973, when the bank was robbed for the second time in its history. The bank underwent a redesign whereby teller cages were constructed.
In 1970, the bank was sold to A.L. Geer and Associates, an investor group from Anna. Wallace Carr was installed as President. The bank enjoyed stability and prosperity for eight years when, in 1978, the bank was sold to Don Anderson, who was major stockholder and also served as President.
Anderson built the current bank building in 1982 and, in the same year, sold it to a family trust. Larry Cornell became President and served until September of 1984, when Shirley Mullinix was named President/CEO. Upon her retirement December 31, 2008, C.Alan Renfroe succeeded her and is currently serving as President/CEO.
The bank has had a distinctive and interesting, if not somewhat colorful, history with just a few instances bearing mention:
- It holds the distinction of being one of the few banks that did not close during the depression of the 1930’s and overcame the multitude of Texas bank failures of the 1980’s emerging as more than merely viable but a strong, solid financial institution.
- The bank was targeted for robbery twice. First, November 21, 1934, by three men in an automobile who were thwarted in their efforts by barking dogs. Second in July,1973, when the bank was “cased” by the robber who later came back and was remembered by employees who had encountered him earlier.
- The bank made headlines when guns were found stored at the bank. A thorough investigation ensued with no wrong doing found.
After the Savoy Mayor, on behalf of the town, approached bank management pointing out that with the bank’s location being almost half way between Bells and Savoy and that since the bank served both communities, requested Savoy be added to the bank’s name. After due consideration, management, the Board of Directors, and the Stockholders did not feel it to be an unreasonable request, and in 1993 the bank’s name became the First National Bank of Bells/Savoy.
In 1997 the bank underwent a total interior make over. Increased square footage provided a conference room for Directors to meet and conduct business, additional office space, work area, and storage. The lobby was redesigned and redecorated.
Even with our makeover, the plate glass windows in front have proved a hazard. Not once but twice and during banking hours, cars, being unable to stop, have found themselves inadvertently “parked” in the lobby. Luckily, no one was injured.
Directors, Officers, and Employees of First National Bank of Bells/Savoy are very proud of its 105 year history and look forward to many more as your community bank. The bank prides itself on being an integral part and active supporter of both communities’ activities. The bank also prides itself on being a strong, solid institution that has not engaged in the type of activities which have caused trouble for the banking industry.