First State Bank - Eastland, TX
Posted by: 
WalksfarTX
N 32° 24.069 W 098° 49.084
14S E 517109 N 3584916
First State Bank opened in 1909 as the first state-chartered bank in Eastland.
Waymark Code: WMQ8QK
Location: Texas, United States
Date Posted: 01/11/2016
Views: 3
Text from Historical Marker:
In 1919-21, First State Bank built a new headquarters on this site, designed by architect Henry T. Phelps. Oil production declined in the early 1920s, and First State absorbed smaller banks. City National Bank closed in 1921 after a brief incarnation as Security State Bank and Trust. First State Bank failed in January 1924, with Texas State Bank taking over the building and assets.
A few months after the stock market crash of 1929, the county's banks had decreased to seven and Texas State was Eastland's only bank. After a run on deposits on October 1, 1931, Texas State Bank closed its doors for good.