The First State Bank of Dimmitt—the predecessor to First United Bank—was founded in 1907 by a group of men led by C.E. McLean.
The First State Bank was one of the few banks in the southwest that survived the Great Depression without new capital or reorganization.
In 1982, the McLean family sold the Bank to B.E. Lloyd of Muleshoe.
Ray M. Bain, founder of the First United Bank of today, joined First State Bank in 1985.
Within two years of working for First State Bank, Ray M. Bain and a small group of investors purchased the Bank from Lloyd.
In May of 1996, directors Ray M. Bain, Stanley Schaeffer, Shirley L. Garrison and Joe Josselet joined new investors; V.H. Harman, Jr., Johnny Trotter, R. Mark Bain, Michael L. Bain and David Schaeffer to purchase the interests of all other shareholders.
After the acquisitions of Citizen’s State Bank of Earth, The First State Bank of Seagraves and Shadow Hills National Bank, the Board of Directors made the decision to change the name from The First State Bank of Dimmitt to First United Bank; a name better reflecting the unity of a single family serving several communities.
First United Bank currently operates 14 Banking Centers in 11 cities, including: Amarillo, Canyon, Dimmitt, Earth, Lamesa, Littlefield, Lubbock, Seagraves, Seminole, Sudan and Wichita Falls, Texas.
First United Bank employs more than 235 people and reports assets exceeding one billion dollars.
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