F&M Bank

Left:  From the time the bank opened in 1905 until the early 1960s, R.R. Harvey was associated with the bank. 

  He began as a clerk and janitor and ultimately became president and then chairman.

Left:  The F&M converted from a national charter to a state charter in early 1963.  It took the name F&M Bank. 

   This sign was only a couple of years old at the time of the conversion.  At the time the bank was still in its original building at Texas and Reynosa.

     Notice it was only a little above 50 degrees at 9:26 a.m.

Left:  Elmon Kirby came to De Leon from Tuscola in the 1950s.  He replaced Mr. Harvey as president about 1963.

Above:  The bank was updated in this 1940s photo.

Above: The F&M occupied only the south half of the building in this 1923 photo.  Steakley and Smith had a grocery in the north half.

A listing of the Farmers and Merchants National Bank from the May 1908 American Bank Reporter.  The charter number 7553 and the date the bank was established (1905) are followed by the paid in capital of $50,000.

    For a number of years the national banks were authorized to issue currency.  A plate would be made with the bank’s name and sheets of currency containing four bills would be printed.  The bank, after pledging bonds to the Treasury could then clip, sign and issue the bills as needed. 

   The top bill is signed by R.W. Higginbotham as President and W.E. Lowe as Cashier.  The Nov. 30, 1904 date toward the bottom of the bill is the date the plate was  made.  It predates the opening of the bank by a little more than a month.

      The middle bill was placed on Ebay for auction in September 2007 with a minimum bid of $4,800.  Its estimated value was between $8,000 and $12,000.  It is signed by W.E. Lowe and T.P. Weaver.  Note that the $5 bill has a blue seal while the $20 has a red seal.  The fact that the two top bills were clipped by hand is evident due to the irregular edges on the bills.

       The lower bill was issued in the 1920s.  It is signed by W.H. Williams the bank’s president and J.D. Tate, the Cashier.  This bill is the size of today’s currency while the two above bills are what’s often called “saddle blankets,” due to their larger size.

Above:  A F&M check ca 1958.  Elmon Kirby designed the bank’s emblem in the upper left corner. 

Left:  Just two years after the bank opened, De Leon Drug Company made a $50.00 deposit.  Deposit slip provided by Gary Burlison.

De Leon Dollars