In 1907 the U.S. Treasury Department signed a document authorizing the Groves National Bank of Hollis to commence the business of banking. The building used as the office of bank was on the northwest corner of Broadway and Second Street.
The name of the bank was changed to City National Bank.
During the year of 1916, Mr. Oscar H. Abernethy went to work for the City National Bank in Hollis. The Groves National Bank of Hollis had changed its name to this a few years before. Oscar began as the bookkeeper and official floor-sweeper and trash dispenser. Mr. Abernethy quit the bank in 1917 to join the army, but returned to the bank as assistant cashier in 1919. After two years, he became cashier and continued in this capacity until 1928.
Sometime during 1929, H.H. Reeves, S.W. Hopkins, J.B. Ellis, O.H. Abernethy and Sam C. Hall bought City National Bank and named it First State Bank and Trust Company, and a short time later purchased National Bank of Commerce. This purchase began the foundation of what became the First State Bank and Trust Company.
During the stock market crash of 1933, when the economy of the United States was in turmoil and hundreds of banks were closing under pressure, The First State Bank and Trust Company of Hollis received a notice from the government that it could remain open for business. There were few other banks given this notice. Many banks that were forced to close never reopened their doors.
In 1988 First State Bank and Trust Company purchased the banks at Eldorado and Olustee. On December 14, 1989 The City National Bank, Sayre, became a part of the First State Bank and Trust and later purchased The First National Bank of Mangum, and Farmers and Merchants Bank in Granite.
Great Plains National Bank was chartered July 17, 1996 and expanded to Elk City at that time. At this time First State Bank and Trust became Great Plains National Bank.
Hometown strength and stability was important to the owners of Great Plains National Bank. They wanted to maintain their hometown identity while growing enough to enjoy the efficiencies of larger institutions. The banking industry, like agriculture and energy, had gone through changing times, but the flux and change of past years now presented opportunities. Because of those opportunities, the original banks are still on-going, and Great Plains National Bank has since opened new branches in Burns Flat, Cordell and Hobart, as well as a second branch in Elk City. . It is a progressive organization committed to serving the people of southwest Oklahoma.
Each bank is operated independently. The banks are all clustered in southwest Oklahoma. Most of the share holders live in southwest Oklahoma. The share holders for the most part are not bankers. Some are bankers, but there is a mix of ownership from teachers to cotton farmers to business men and women.
Men who have served as presidents are:
E.M. Slaughter
Herman Howard Reeves
E.J. Smith
J.N. Coursey
W.C. Caswell
Ray Powell
Horace Eaton
Art Harris
