American State Bank

American State Bank was a financial service company operating 37 locations in 21 communities across Texas, mainly in West Texas.

American State Bank first opened on May 20, 1948 in Lubbock. American State Bank had unusual continuity of management - there were only 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 did not accept any bailout funds from the federal government.

On February 27, 2012, Houston-based Prosperity Bancshares, the parent company of Prosperity Bank, announced that it had signed a merger agreement with ASB, whereby ASB will merge into Prosperity Bank subject to shareholder and regulatory approval. The merger became final effective July 1, 2012.

Famous quotes containing the words american, state and/or bank:

    In European thought in general, as contrasted with American, vigor, life and originality have a kind of easy, professional utterance. American—on the other hand, is expressed in an eager amateurish way. A European gives a sense of scope, of survey, of consideration. An American is strained, sensational. One is artistic gold; the other is bullion.
    Wallace Stevens (1879–1955)

    Governments which have a regard to the common interest are constituted in accordance with strict principles of justice, and are therefore true forms; but those which regard only the interest of the rulers are all defective and perverted forms, for they are despotic, whereas a state is a community of freemen.
    Aristotle (384–322 B.C.)

    People get a bad impression of it by continually trying to treat it as if it was a bank clerk, who ought to be on time on Tuesday next, instead of philosophically seeing it as a painter, who may do anything so long as you don’t try to predict what.
    Katharine Whitehorn (b. 1926)