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:
“Our fathers and grandfathers who poured over the Midwest were self-reliant, rugged, God-fearing people of indomitable courage.... They asked only for freedom of opportunity and equal chance. In these conceptions lies the real basis of American democracy. They and their fathers give a genius to American institutions that distinguished our people from any other in the world.”
—Herbert Hoover (1874–1964)
“I met a Californian who would
Talk California—a state so blessed
He said, in climate, none had ever died there
A natural death, and Vigilance Committees
Had had to organize to stock the graveyards
And vindicate the state’s humanity.”
—Robert Frost (1874–1963)
“Denouement to denouement, he took a personal pride in the
certain, certain way he lived his own, private life,
but nevertheless, they shut off his gas; nevertheless,
the bank foreclosed; nevertheless, the landlord called;
nevertheless, the radio broke,
And twelve o’clock arrived just once too often,”
—Kenneth Fearing (1902–1961)