First United Bank

First United Bank is a community bank headquartered in Durant, Oklahoma that provides personal and commercial banking, investment management, insurance, and mortgage products and services to customers at more than 85 locations throughout Oklahoma and Texas. First United has recently grown from having combined assets of over $6 billion[1] to having almost $8 billion in combined assets[2]and is the 7th largest bank in its home state of Oklahoma.[3]

First United Bank & Trust
TypePrivate
IndustryBanking
Founded(as "Durant National Bank") Durant, Oklahoma (1900)
HeadquartersDurant, Oklahoma, United States
Key people
Greg Massey, Chairman/CEO
ProductsFinancial services
Total assets$6 Billion
Number of employees
1500
Websitewww.firstunitedbank.com

First United is owned by the Massey family whose patriarch is former Oklahoma state senator, John Massey.[4] Mr. Massey serves as chairman of First United, and his son, Greg Massey[5] leads the bank as chief executive officer.

The bank defines its purpose as follows: To inspire and empower others to Spend Life Wisely. First United's Spend Life Wisely philosophy encompasses four pillars: faith, financial well-being, wellness and personal development.

History

First United[6] began as Durant National Bank[7] on Oct. 2, 1900 when it first opened its doors in Blue County, Choctaw Nation Territory, which is known today as Durant, Oklahoma. In 1915, Durant National Bank absorbed eight banks in the Oklahoma region, and in 1916, constructed a new building in Durant at 2nd and Main Streets. In 1963, Durant National Bank was renamed to Durant Bank & Trust becoming one of the first banks in Oklahoma to have full trust powers. Durant Bank & Trust was then renamed to be First United Bank in 1998.[8]

Oklahoma native, John Massey joined Durant Bank & Trust in 1966 as a director, and was appointed chairman of the board in 1986. At that time, he also became the majority shareholder and CEO. Greg Massey, joined the bank in 1990, and succeeded his father as CEO in 2003 when the bank had 18 locations in Oklahoma. After a series of acquisitions, including the merger with American Bank of Texas in 2016,[9] First United has grown to over [10] 85 locations in Oklahoma and Texas with more than $7[11] billion in assets.

References
  1. "First United Bank announces chief operating officer". Durant Democrat. Retrieved 2018-01-16.CS1 maint: others (link)
  2. "First United Bank & Trust Company". ibanknet.com.
  3. "Summary of Deposits". FDIC.
  4. "Executive profile". Bloomberg.
  5. "Executive Profile". Bloomberg.
  6. "Bank Listing". Oklahoma Banking Department.
  7. "Old Money From the Durant National Bank". Antique Money.
  8. Massey, John (October 25, 2011). "Oklahoma Bank and Commerce History Project" (PDF). Oklahoma Historical Society.
  9. Hoopfer, Evan. "Digital Reporter". Austin Business Journal. Retrieved 22 June 2016.
  10. Bank, First United. "First United Bank - Spend Life Wisely(R)". www.firstunitedbank.com. Retrieved 2018-01-16.
  11. Bank, First United. "First United Bank - Spend Life Wisely(R)". www.firstunitedbank.com. Retrieved 2019-11-05.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.