Bank of the Panhandle Revenue and Competitors

Bank of the Panhandle was chartered and opened for business on October 12, 1976. At the first quarter report of condition on 12-31-76 the bank reported total assets of 3.5 million and capital reserves of 778 thousand dollars. Over the years, the bank has grown to its current size of 74 million with capital and reserves of 7.4 million. Ownership of the bank has not changed materially since 1979 and includes a number of shareholders from the Guymon community as well as the northern Texas panhandle. The bank offers a broad range of deposit products, including a totally free checking account. Other products include the Checking with Interest Account that features free checks, no per check charge with a low monthly fee and our Money Market Account with tiered interest rates that are competitive with many money market funds. In addition to these special accounts, the bank has a full range of consumer and commercial deposit products. The bank has been very involved in lending to borrowers in the local area and offers agricultural and commercial as well as consumer and real estate loans. The bank is the only certified FSA lender in the Oklahoma Panhandle. To serve bank customers, Telephone Banking was added in 1993 as a no charge service to enable all bank customers to check account balances and verify receipt of deposits and payments of checks from any touch-tone phone at any time of day. New features continue to be added to the system, which receives approximately four thousand calls a month. Internet Banking was added in 2000 as a no charge service to enable all bank customers with internet access to view account balances and transaction history. The bank also offers ATM cards and Visa Check Cards so that customers can have access to their money at any time of day wherever they may be. In order to accommodate the growth of the last several years, the bank has replaced all drive-up equipment and increased safe deposit box storage by about 40%. In 1994, the bank added a local credit card and also replaced the outdoor electronic sign.