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President and CEO S. J. Westbrook and the directors and employees of the First National Bank of Aspermont were recently joined by a huge crowd that filled up the Stonewall County Community Center to celebrate the bank's 110th anniversary. Like most banks this age, there is a lot of family history involved with the ownership and longevity of the institution. The 19 original shareholders raised $30,000 in capital to form the bank as a national charter in 1901. The bank is indicative of the importance of community banks throughout Texas. During tough times, such as the current drought, it has been strong leadership and determined bankers and ranchers that sustain small communities like Aspermont.
President and CEO S. J. Westbrook and the directors and employees of the First National Bank of Aspermont were recently joined by a huge crowd that filled up the Stonewall County Community Center to celebrate the bank's 110th anniversary. The crowd enjoyed firstclass barbecue, prizes and entertainment.
Like most banks this age, there is a lot of family history involved with the ownership and longevity of the institution. The 19 original shareholders raised $30,000 in capital to form the bank as a national charter in 1901.
The association of the Riddel family began in 1910 when Roy Riddel was hired as an assistant cashier for $65 a month. In 1939, his son, Ralph Riddel Sr., joined the bank as an assistant bookkeeper, and Roy Riddel became president in 1945.
Another long-time banker, Elwood Freeman, currently president of the Lamesa National Bank, started his career under Roy Riddel in 1945. Freeman still serves on the board of directors. In 1964, Ralph Riddel Sr. became president and his widow, Aliene Riddel, still serves as director emeritus. Ralph Riddel Jr., a long-time rancher, became a director in the 1970s. His ranch encompasses one of the famous landmark Double Mountains in the county. The newest entry in the Riddel affiliation is Vice President Ralph Riddel ??, who started at the bank as an employee and director in 2009 after working for Elwood Freeman in Lamesa.
The Springer family has also been involved with the bank since 1916, when WA. Springer became a bookkeeper. His brother, R.L. Springer, joined the bank as cashier in 1938. Today, W.A.'s grandson, Glenn Springer, and his son Cody both serve as directors.
On another note, descendants of R. L. Springer, David and Phillip Springer, serve as president and chairman of the board, respectively, at the Ballinger National Bank. Tm convinced that Aspermont and the First National Bank may have produced more bankers per capita than any town in Texas!
Aspermont is the county seat of Stonewall County, named after Confederate General Thomas J. "Stonewall" Jackson. The county was formed by the Texas Legislature in 1876, when the Young and Bexar districts were divided into 54 new counties.
It had been a few years earlier in 1862 that Army Gen. Ranald "Bad Hand" Mackenzie rode onto the scene to rid the county of the Comanche and Kiowa Indian tribes that roamed the area. He was called Bad Hand because he lost two fingers in battle and was thought to be mentally ill due to the horrendous way he led troops that basically devastated the tribes until 1880.
The town was started by A.L. Rhomberg in 1889 and remains primarily a farming and ranching community. In recent years, the area has developed as a great recreational spot for hunting deer, dove, quail and turkey. There is also significant oil and gas activity dating back to the 1940s.
The bank is indicative of the importance of community banks throughout Texas. During tough times, such as our current drought, it has been strong leadership and determined bankers and ranchers that sustain small communities like Aspermont. Congratulations to the bank and its long heritage of success!
By Donny Palmer, TBA Member Relations Officer
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Copyright Texas Banker Association Oct 2011