First Guaranty State Bank - Cranfills Gap - Converted Bank Buildings on Waymarking.com

Gulbrand Olson Bronstad was born in 1856 in Romedal, Hedemarken, Norway. In 1874 at the age of 16, he immigrated to America and came to Valley Mills, Texas where he spent time with his brother, Christian. For the next two years he spent time in Valley Mills, Waco, Norway Mills and Morgan and had a variety of business experiences. He also learned to speak English. While at Morgan he met Morris Weil, who was a bookkeeper for Miller Merchandising Store. In1887 the store went bankrupt and Bronstad and Weil formed a partnership, bought the bankrupt stock and set up a store in Cranfills Gap. After a short time, Weil decided to go back to Germany leaving Bronstad as the sole owner.

G.O., as he was better known, made many trips to markets in Waco, Dallas and St. Louis to stock his store. He went by buggy to Clifton or McGregor, left his horse and buggy at a livery stable and boarded the train to his destination. When the merchandise was delivered by train to Waco, wagons drawn by mules hauled it to Cranfills Gap. He operated his business much like a bank, extending credit, making loans to his customers and others, accepting deposits of cash and accepting drafts from other banks. In 1910, he secured a $10,000 loan from an individual in Colorado to use as capitol stock for the charter of First Guaranty State Bank of Cranfills Gap. He was elected the first president of the Board of Directors.

Cranfills Gap, Looking Back and Moving Forward

The initial bank building was located on the south side of the original Old Town. In 1913, steam engines moved the bank and town buildings to the recently laid out site in New Town - Cranfills Gap.

In 1924, a new red brick building was constructed. (This location). For the next 36 years, the bank operated on this corner. In 1925, the name changed to First Security State Bank (FSSB).

In 1960 the bank built a new building at its current location across the street.