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Roxton's first bank was established and has enjoyed a steadily increasing business ever since. The banks first officers were President: A. H. Bywater, Vice-president: M. D. Maness, Cashier: Gibbons Poteet and Assistant cashier: J. P. Maxwell. The board of directors and stockholders included A. H. Bywaters, C. R. Caldwell, Walter Bywaters, M. D. Maness, R. S. Bywaters, F. W. Underwood, J. K. Bywaters, R. F. Scott, P. A. Bywaters and W. D. Wilkins. The Bank had ample funds and stood ready to assist citizens in all business enterprizes.
Roxton State Bank was chartered and promoted as a financial institution "for the people and by the people". The incorporators were: J. A. Underwood, F. W. Underwood, E. O. Johnson, Phil E. Hawkins and Pat Warner. The stock was taken almost entirely by home capital with the remainder distributed amoung citizens of Roxton and the surrounding community. All general banking business was done at this bank while specializing in land notes and real estate loans. Roxton was now a town with two banks to serve its citizens.
With the coming of new methods of transportation the bank's business, as well as other businesses suffered. People moved away to be near new jobs. As a results, the two banks merged in order to better serve the community. With a couple of name changes, over the years, the bank continued in busness to become the Roxton First Bank as we know it today.
Night Watchman discovers fire at three AM. The fire spread very rapidly and by the time pumper equipment arrived from Paris and due to a water shortage, firemen were unable to bring the fire under control. Cause of the blaze that started in the bank building was undetermined. The entire block was swept by flames. Destroyed were First National Bank of Roxton, Fry and Brashears Grocery (established 1923), Ralph Smith Hardware Store (established 1928) and the Landers Company which operated a grocery, general dry goods and a meat market (established 1928). Money and valuable documents contain in the vault were not affected by the fire. They had to wait two weeks for it to cool enough to be opened. Roxton is one of the older towns in this area and the Bywaters Estate Building was one of the oldest landmarks.
The bank moved into the new Bywaters Estate Building in September. Following in October by Fry and Brashears, The Landers Company and Ralph Smith Hardware moved in also. The Bywaters Estate also occupied a section of the new building.
The new structure added a distinctive modern touch to the business section of Roxton. The buildings were back twenty-five feet from the street in the fashion of shopping centers in larger cities. The Roxton merchants and the bank were back in business.
August 4,1977 The Progress.....Two men are being held in the Grayson County Jail following the robbery of the First Bank of Roxton on Tuesday morning. Justice Lee Franklin, 25 of Paris, and John Henry Goodman, 38 of Bonham, were arraigned Wednesday morning before U. S. Magistrate Charles Hughes of Sherman on federal charges of bank robbery. Bond was set at $100,000.00 each. Mrs. Kenneth (Pauline) Hatanville said she saw two men wearing ski masks escorting bank president Jim Smith and vice-president Grady Frazier into the main lobby from their offices, located to the side of the lobby. A double-barreled shotgun was used in the holdup as the bandits instructed the teller to give them the money. No one was injured in the robbery and most of the $27,000.00 taken was later recovered. The two men were captured one quarter mile north of Cooper following pursuit by law enforcement officers.
"The chimes of time ring out anew, another day is born." quoted from a beautiful old song. The chimes of time ring out realistically each new day in Roxton. In the late 1970"s Mr. Jim Smith, president of the bank, had installed the Schulmerich Quadrabelle with four loudspeakers on top of the bank building. These bells have the true sound of cast bells westminister chime and have the hour strike module. The bells are automatically controlled and set to ring the time from 8 AM to 8 PM seven days a week The chimes ring out on the hour followed momentarly by striking the time of day. Three times a day music is played.
Mr Smith has owned the bank since 1975. Mr Smith's parents, Jim and Sally Smith, were share croppers and lived around Howland at the turn of the century. So Roxton is not new to Mr. Smith. Mr. Smith purchased three types of tapes, religious, popular selections and popular patriotic songs. So for years the bells have rung and adding much to our community life. From days of old to the current time Our Bank has contributed greatly to our community.
Mr. Poteet was born in Lamar County, August 31, 1866, son of T. P. and Lucretie Neatherly Poteet who were both members of early-day families here. He was a cashier at the Bank for 40 years and was widely known as a free-lance columnist for rural newspapers and as a humorous speaker. Commonly known as "The Sage of Roxton", he was president of the "Rabbit Twisters Association" and played fiddle in the "Rabbit Twisters String Band".
Mr. Poteet developed an interest in early Lamar County history and became a student of finance and economics. He was much in demand at public gatherings for his discourses on these and kindred subjects, usually couched in humorous style. Mr Poteet was also well known as a writer on economics, having advanced a number of sure-fire cures for "depressions" as well as remedies for other economic ailments.
Over the years many local people have served our community at the bank. Pauline Aker Hatanville began at the bank in 1952 and served more than 32 years before she retired. Peggy Graham Miller started in 1955. Mrs. Ernest McGlassen, better known as Miss Holt by all her ex-students, began in 1959. The list goes on and on including Grady Frazier, Robert Rhodes, Pat West and many others who graduated or attended Roxton School. Current employees, Necie Birdsong, Nadine Starks Brem and Sharon Barnes are Roxton ex-students. Holly Brewer, Shawn Franklin and Joe Wishard did not attend school at Roxton but have become part of the Roxton business family, and have taken an active part in our community.
