History

With a $1,000,000 initial capitalization, Town North Bank was established in 1972 on the cusp of explosive development in north Dallas. From the beginning, the bank emphasized offering a progressive product line, combined with superb personal service, to meet the needs of upscale retail, professional and business customers. Within its first three years, the bank sold to a holding company owned by credit unions, and credit union ownership has remained constant since that time — currently 43 state-chartered credit unions from Texas, many of which are represented on the bank's board of directors.

The purchase of TNB in 1975 launched the bank's two-pronged business strategy: retaining exemplary personal banking services and using the bank as a springboard to enter the credit card industry. TNB has been a market leader in innovation since the beginning — as one of the first banks to offer 24-hour banking through an ATM machine, and the first company in the country to offer a credit card system to credit unions. Today, the company continues to cultivate this market-leading position through product innovation, a concentrated focus on personal customer service, and an investment in officers and employees who diligently strive for the bank's success.

Other than an early move one block down the street, TNB has stood proudly in a single location since its inception. The Town North Bank Building, located on the LBJ Freeway, is the heartbeat of the bank, housing its banking lobby, loan operations, investment services and the card services division. Most important, company executives are also onsite — involved personally in both the strategic as well as daily workings of the company.

Only two presidents have served TNB: Fred Ferguson, who served from inception to 1994, and John Reap, who became president in 1994 and continues in that role today. For 35 years, the bank has remained true to its mission and today, with assets over one billion dollars, the future is promising for this successful independent bank.