| Type | Private |
|---|---|
| Industry | Finance |
| Founded | 1948 |
| Headquarters | Lubbock, Texas |
| Key people | W. R. Collier (Chairman), Mike Epps (President) |
| Products | Financial Services |
American State Bank, founded in 1948 and headquartered in Lubbock, Texas, is a financial service company with $2.5 billion[1] in assets and offers a full range of banking and financial services to customers in West Texas. They currently have 37 locations in 21 communities across Texas.
American State Bank has not and will not accept any bailout funds from the federal government.
American State Bank first opened on May 20, 1948 in Lubbock. Upon opening, the bank ran an ad in the Lubbock Avalanche-Journal, which stated, "Answering a vital public need, the American State Bank opens today."[1] The American State Bank has had unusual continuity of management - there have been three presidents since its inception. The first president, Jack Payne, had a term lasting from the banks first opening until 1974. He was succeeded by the current president, W. R. Collier, who presided through 2010. With the start of 2011, Michael Epps became the third president of ASB.
American State Bank has recently acquired new locations and as of March 2010 has 37 locations in 21 Texas communities.