State Bank of Texas history

In 1989, 134 Texas banks with assets of $23.2 billion (state and national) failed— 13.6 percent of the state's banking assets.

In 1989, the 71st Legislature enacted the Texas Health and Safety Code, a nonsubstantive codification of health and safety statutes.

Branch Locations and MoreIn 1991, First State Bank opened its first three branch bank locations in Camp Wood, Sabinal and Utopia.

In 1993, the 73rd Legislature expanded the enforcement authority of the Banking Department with respect to the sale of prepaid funeral services and merchandise, and imposed investment restrictions on prepaid funeral benefit trust funds.

In 1993, the Department was officially accredited by CSBS.

In 1993, the method of revenue generation for the bank examination program changed from examination fees (per examiner day), to annual assessments billed quarterly based upon an institution's size and condition.

In 1995, the 74th Legislature expanded the scope of the Currency Exchange Act to include currency transportation as an activity to be licensed and regulated by the banking commissioner.

In 1995, the Department began conducting annual customer surveys of banks and trust companies.

In the 1996 Sun World litigation, Sun World National Bank was owned by NationsBank, and after the relocation, Sun World was merged into NationsBank, N.A., Charlotte, North Carolina.

In 1997, the banking commissioner filed a lawsuit against NationsBank of Texas, N.A. and NationsBank, N.A., Charlotte, North Carolina, to prevent the merger of the two banks in violation of Texas opt out law.

In 1998, citing constitutional parity and the federal preemption of Article 489f for its failure to address state savings banks, the banking commissioner announced that the Department would accept applications for interstate merger and branching transactions for state-chartered banks.

In 1998 First State Bank became the first financial institution to open a second location in Uvalde, when the Bank purchased and remodeled the former Central Power and Light building at 2100 East Main Street as its fourth branch location.

The bill added new Subtitle G to Title 3, Texas Finance Code (Chapters 201-204), to govern interstate acquisitions of banks, interstate mergers between banks, interstate branching of banks, and foreign bank branching in Texas, effective September 1, 1999.

In 1999, CSBS re-accredited the Department.

In 2002, the Department issued 14 certificates of registration for 14 PCSEAs with 15 offices.

In 2002, the Department participated in its first joint state examination of a MSB with the California Division of Financial Institutions.

In 2003, the Finance Commission approved a rule authorizing state banks to offer and sell debt cancellation contracts and debt suspension agreements.

In 2003, CSBS re-accredited the Department for the third time.

In 2005, the 79th Legislature passed S.B. 1173 creating a new subchapter in 712 of the Texas Health and Safety Code to limit how a cemetery corporation could directly or indirectly sale or offer for sale an undeveloped mausoleum space to the public.

In 2005, the Department celebrated its one-hundred-year centennial anniversary.

In 2005, First State Bank was given the opportunity to purchase the former Union State Bank in Carrizo Springs creating its sixth branch, serving the communities of Carrizo Springs, Asherton, Big Wells and other parts of Dimmit County.

In 2006, the Department opted to take a proactive approach to financial education in Texas by creating a financial education coordinator position to serve as the point of contact for information exchange to address financial education issues in Texas.

In 2007, new regulations were established to report mortgage fraud in Texas.

In 2007, the national financial crisis began and a series of major financial institutions failed.

In 2008, the Department seized the records from an entity for selling prepaid funeral benefit trust-funded contracts without a permit and for failing to deposit $329,599 in money collected from these sales.

In 2009, the United States Treasury released a proposal for reforming the financial regulatory system.

In 2011, S.B. 1165 was approved to enhance the banking commissioner’s ability to ensure the safety and soundness of the Texas banking industry by allowing the commissioner to increase penalties against banks and individuals.

In 2012, the Department signed the Nationwide Cooperative Agreement for MSB Supervision.

In 2012 following the passing of Governor Briscoe and after 105 years of steady increases, the total assets of the Bank reached the $1 Billion dollar mark.

In 2013, the 83rd Legislature enacted S.B. 661 which amended Chapters 711 and 712 of the Texas Health and Safety Code relating to cemeteries.

In 2013, the Department launched the Corporate Application Filing Entry System (CAFE) to allow supervised entities to submit applications or notices electronically.

In 2015, the first concurrent MSB examination was conducted with the CFPB.

In 2015, First State Bank celebrated its 80th anniversary of serving the residents of Henderson County and East Texas.

In 2016, total assets for Texas state-chartered banks were $254.6 billion as of December 31st, up $7.7 billion over the previous year.

In 2017, the banking commissioner testified before the Senate Committee on Banking, Housing and Urban Affairs in Washington, D.C. The subject matter of the hearing dealt with a call to end the one-size-fits-all bank regulation and instead tailor regulations to different kinds of banks.

In late 2017 Bank Chairman and CEO Dickie G. Geries announced his retirement.