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First National Bank changes name

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Albany News

By Donnie A. Lucas

Starting June 1, a legendary Albany financial institution will open for business for the first time in 140 years with a new name.

First National Bank Albany/Breckenridge will now be known as Clear Fork Bank, while continuing to provide the same local service by the same local officers and employees at each of its six branch locations.

“There is no change in personnel,” said longtime Albany president and bank director Randall Palmore. “We will have the same local staff and local ownership providing the best care to all our customers at each of the branches.”

The name change comes as the bank makes plans for continued expansion in other markets where the “First National’ name could be confused with other community banks operating under similar names.

The new name was chosen to differentiate the bank in new marketplaces and provide flexibility as it expands, according to a press release. The new name was selected as a nod to the historic Clear Fork of the Brazos River, where the roots of the original Albany bank were established in 1883.

In recent years, the local bank merged with what was previously First National of Breckenridge, also establishing branch locations in Gordon, Strawn, and more recently Abilene and Mineral Wells.

While the name is changing, the bank’s independence, culture, and commitment to local communities remains steadfast, according to the release.

The bank is touted as one of the oldest banking institutions in the state, continuing its tradition as a leading family-owned financial institution with $770 million in assets.

The bank will offer personal and business investment services, checking and savings accounts, and various types of loans up to $20 million, all with a personal banking approach, the release stated.

The board hired a new chairman of the board and CEO to head the bank. Tim Cooper, who offices at the Abilene location, will provide overall direction, while individual branches will still keep their current management teams in place.

“Our bank has been in the Texas Big Country for 140 years, and we’ve served many families for generations,” Cooper said. “While our moniker has changed to reflect the bank’s history, the new name will distinguish us in the market from similarly named banks and poise us for growth. Our independence, culture, and commitment to local communities remains steadfast.”

The release says that the bank has plans to enhance banking products and services that will balance modern banking practices with the needs of small-town Texans.