On March 21, 1901, just nine short days after the first townsite lots for the new city of Elk City were sold, the Thurmond Brothers - E.K., A.L., O.H., A.N., and I.C. - formed the First National Bank of Elk City. The bank was started with $25,000.00 in capital.
Since such meager beginnings, both Elk City and First National have grown in size and stature. Since 1901, descendants of the Thurmond Brothers have owned and managed the bank.
The bank has changed locations three times. The original bank location (Left) was one of the first buildings built in Elk City. In 1903 First National had outgrown its frame quarters and a beautiful new two-story brick building was constructed.
During construction of the new building the business of the bank was carried on in the old building which was set in the middle of East Broadway Avenue until the new building was finished. Upon completion of the new building (Opposite), the old frame building was sold and moved. It was later used as a classroom when the school burned down. Today a replica of the original bank building stands in the Old Town Museum Complex in Elk City.
As many banks came and went throughout the first of the century, FNB stood strong and grew stronger. As FNB approached its fiftieth anniversary, it planned a complete remodel and renovation of its bank building (Below). By this time FNB had been given the nickname as "Old Reliable" because no matter what was thrown its way it still stood strong.
(left: 1951 drawing; right: 1999 picture)
Although later again remodeled (Opposite right), this bank building is still standing and operational as our downtown branch. In the 1980s, we moved into a newer and bigger building and better meet our customer's needs. Later, the bank acquired trust powers; changed its name to First National Bank & Trust, Elk City, Oklahoma; opened a branch in Sayre, Oklahoma; and purchased an insurance agency (Western Oklahoma Insurance Agency) in order to expand our services.
Today, First National Bank & Trust is the largest, highest capitalized bank in Western Oklahoma. It is consistently recognized by independent bank rating agencies as one of the top banks in the country. It is the only local bank that started with Elk City and it is the only local bank that has been under the same ownership and management since 1901. From its meager beginnings in 1901, the bank has grown to over $232,000,000.00 in total assets and over $22,500,000.00 in capital.