Two Kindred Community Banks Are Becoming One
First National Bank in Spearman, Texas, and Bank of the Panhandle in Guymon, Oklahoma, are excited to announce their merger to become “Panhandle First Bank.” The two banks have frequently partnered over the past 39 years to serve their communities, and have determined that the communities will be better served by combining the two institutions into one. They intend to complete the merger during the second quarter of 2024, pending regulatory and shareholder approval.
The combination of these two locally owned community banks will combine efforts to build community one relationship at a time. The shareholders and team members have lived and worked in the Panhandle –for generations – where many are living out legacies started by their great-great grandparents who settled in the area five generations ago. They know the grit and determination that it takes to thrive in the Panhandle, and they know that success comes when working together stating, “We are better together, and are committed to building the Panhandle for future generations.”
Bank of the Panhandle opened in October 1976 in Guymon, Oklahoma. By 1979, the bank was purchased by a group of investors, including the Baggerly family, the Long family, and the Etling family. All three of these families are still shareholders today. One of the founding board members was Max Baggerly of Spearman, Texas.
Just a few years later a new charter was issued for a bank in Spearman, Texas. Bill and Ginger Pittman and a large group of community investors, including Max Baggerly, came together to open First National Bank in April 1985.
Max Baggerly served as a board member of Bank of the Panhandle and First National Bank from the day First National Bank opened until he passed away in 2007. At that time, his son, Steve Baggerly, Chairman of the Board at Bank of the Panhandle, stepped onto the board at First National Bank. “Working in Guymon and serving on the board in Spearman gave us the opportunity to determine what worked best between the locations,” Steve Baggerly said. “Whenever I believed First National had a better process than ours, I adopted it. They did the same, so we’ve been aligning policies and procedures for seventeen years.”
In 2011, Sally Pittman Hawkins, Bill and Ginger’s daughter, joined Bank of the Panhandle. Sally came to the bank by way of brief careers in public accounting and law. She recalls, “My heart was in community banking. I grew up inside First National Bank, and as I got older, I realized the critical role that locally owned, community banks play for small communities. I wanted to be part of that, so I was looking for a bank to join, and Steve was looking for a CFO. I moved to Guymon, and Steve taught me how to be a banker.”
In 2012, Bill Pittman joined Bank of the Panhandle’s board, and in 2016, Ginger Pittman joined the board of directors of Panhandle Bancshares, Inc., the holding company of Bank of the Panhandle. Over the past 12 years, these banks have continued to leverage each other’s strengths to better serve their respective communities. As the years passed, the banks continued to grow together in strategic vision and in values, and it became obvious that they are better together.
Customers can expect the same great people in the same locations serving their needs, but additional products and new technology advancements will be offered. “When you call us, the same people you’ve always known will answer the phone. We believe the customer signs our paycheck, and that people bank with people. We are excited to expand our service area through this merger, and we would love the opportunity to earn your business,” Bill Pittman said.
These banks exist to build community. As they combine forces and become Panhandle First Bank, they are excited to continue building their local communities with community involvement, financial education opportunities, and standing by our customers through the highs and the lows. “Come see us and discover how we really are better together.”
For more information, please contact Sally Hawkins, Panhandle First Bank CEO & President, at 806-316-1177.