Picture of an accounting ledger from the depression era

First State Bank of Burnet History

On October 24, 1908, something great happened in the tiny farming community of Burnet, Texas. In the office of Ike D. White, a meeting was held by fifteen stockholders. The result of this organizational meeting was the creation of First State Bank of Burnet. The founders of the bank would be amazed at how their vision created a community bank which continues to be the hub of economic activity. First State Bank of Burnet has served its community from the historic square since 1908. The bank moved in the 1960s from its original location on the corner of Jackson and Pierce Streets to its present location on the corner of Washington and Pierce Streets. This location was expanded in the 1970s and again in 1998. In the early 1990s, First State Bank of Burnet opened a branch location in nearby Lampasas, Texas. The bank also expanded its motor bank services by building a new facility on South Water Street in 1996.
Over the years, the bank has overcome many historical events such as the great depression, two world wars, the assassination of a President, and acts of terrorism. These events and other factors have challenged our local and national economies. Through good times and bad, First State Bank of Burnet has remained financially strong and steadfast in our mission of serving the financial needs of our communities.
First State Bank of Burnet believes that banking is truly a people business. It’s our people who provide strength to the bank. We are neighbors serving neighbors for the good of our community. The Board of Directors has served on average for over 16 years, and the current management team has served on average for over 27 years of service at First State Bank of Burnet. Long term service is a part of the history of First State Bank of Burnet. Charles Schnabel served the bank from 1908 until the early 1960s. Marie Clark Galloway, daughter of the bank’s first President W.C. Galloway, served until 1983. Cary Johnson served as President/CEO from 1989 to 2020 and currently serves as a Senior Director. The current President/CEO Matt Kelley is only the sixth person to serve in this capacity in the history of the bank.
At First State Bank of Burnet, we share Burnet’s history. You can count on us for all of your future banking needs.