The First State Bank of Paint Rock (Paint Rock, Texas)

USA / Texas / Paint Rock / Paint Rock, Texas
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On October 18, 1909, a meeting of all the subscribers to the $25,000 capital stock of a proposed new state bank was held in the offices of W. C. Montgomery Co. in downtown Paint Rock, Texas. The stockholders, many of whom became directors in the bank, were area ranchers and businessmen whose desire for an independent community bank lead them to form an organization that no single stockholder could dominate. None of the original stockholders owned more than 30% of the stock of the bank, and no one has ever owned a majority interest in the bank to this day. The bank opened for business in April 1910, as the Guaranty State Bank of Paint Rock.
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Coordinates:   31°30'27"N   99°55'16"W
This article was last modified 15 years ago